A prominent Senior Advocate of Nigeria, Olisa Agbakoba, has issued a stark warning about a potential ‘hunger riot’ in Nigeria if the Federal Government does not take swift action.
Addressing journalists at his Ikoyi, Lagos office on Tuesday, Agbakoba highlighted the severe poverty afflicting many Nigerians, which has left them struggling to afford basic necessities.
According to The PUNCH, despite Nigeria’s vast oil and gas resources, Agbakoba pointed out that these assets have been monopolized by foreign entities, exacerbating the poverty situation.
He stressed the urgent need for the government to prevent a scenario where widespread hunger drives desperate people to loot homes and shops for food.
“Hunger riot can occur anytime in Nigeria,” Agbakoba cautioned, urging President Tinubu to restructure his cabinet and reduce the number of ministries. “Having over 40 ministers is too large. We don’t need more than 20 ministries.”
He further recommended dismantling certain government agencies and broadening the tax base to capture defaulting multinational oil companies, instead of increasing taxes.
“Don’t increase taxes, just expand the tax net and go after defaulting IOCs,” he advised.
Nigerians are increasingly struggling to feed themselves, with food inflation reaching 40.66 percent in May.
This marks a significant rise from 25.25 percent in June 2023, reflecting a continuous increase in the cost of living as per the latest Consumer Price Index and Inflation report from the National Bureau of Statistics.
The CPI, which tracks changes in the prices of goods and services consumed daily, revealed that headline inflation increased to 33.95 percent in May, up from 33.69 percent in April.
This surge in inflation, driven by higher food and transport prices, represents the highest rate since March 1996.
In light of these alarming statistics, Agbakoba emphasized the necessity of immediate action to prevent the looming threat of a hunger riot.
