In a recent interview on Channels TV, veteran actor, lawyer, and All Democratic Congress (ADC) member, Kenneth Okonkwo, raised sharp concerns over Nigeria’s economic management, particularly regarding the country’s industrial and manufacturing sectors.
Okonkwo highlighted the contradiction between local production capacity and the continued reliance on imports, quoting prominent industrialist Aliko Dangote: “Why are you people still importing when the product is available here?” According to Okonkwo, this situation reflects systemic inefficiencies, corruption, and a lack of proper government policy to encourage domestic production.
Speaking on the government’s removal of oil subsidies, Okonkwo argued that ordinary Nigerians have not benefited from the policy, contrary to official claims. He explained that the high cost of essential commodities is not due to subsidies but rather inefficiencies, mismanagement, and monopoly practices in key sectors. Okonkwo stressed that if local refineries like Dangote’s and others were fully operational and supplied with crude oil efficiently, prices of petroleum products would be drastically reduced.
He further criticized the current administration for running multiple budgets simultaneously, describing the practice as illegal and unconstitutional. “The president is supervising three budgets at the same time, yet the people do not feel any relief in their daily lives,” Okonkwo said.
On social investment programs, Okonkwo expressed skepticism, noting that government allocations such as cash transfers and loans to youth have limited impact without addressing fundamental issues in education, healthcare, and infrastructure. “Even when billions are shared, it is often not felt by the average Nigerian household,” he said.
Okonkwo’s comments underscore a broader concern about Nigeria’s industrial strategy. He urged the government to prioritize local production, enhance efficiency, and curb corruption, arguing that doing so would reduce dependence on imports, create jobs, and stabilize the economy.
The veteran actor concluded that unless practical steps are taken to harness local production and support industries, statements from both government officials and business leaders will remain mere rhetoric.Continue, Full, Reading>>>>
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