Emefiele’s Naira Redesign Policy Linked To Rising Hunger Crisis – Tinubu’s Aide

Emefiele’s Naira Redesign Policy Linked To Rising Hunger Crisis – Tinubu’s Aide

A Senior Special Adviser on Digital and New Media to the president, O’tega Ogra has claimed that naira redesign policy introduced by former Central Bank of Nigeria Governor, Godwin Emefiele is the cause of hunger and economic hardship in the country.

The presidential aide made the claim on Arise TV.

Ogra argued that the naira redesign policy stopped a lot of farmers from going to farm to plant, hence the reason for limited food output.

In October 2022, the former CBN boss, Emefiele introduced the naira redesign policy where ₦200, ₦500 and ₦1,000 old notes were replaced with new notes. The CBN also announced a plan to end the use of the old notes by January 31, 2023.

Speaking on the policy Ogra said, “The most important thing is to realise what it takes to end hunger and guarantee food security in Nigeria. It is not a magic wand. The president has said on countless occasions that he does not want to look behind and lay blames.

“But let us situate things properly. At the beginning of last year, we had the naira redesign. That Niara redesign ensured that a lot of farmers did not go to farms to plant and all that.

“It simply meant we had limited food output at the end of last year.”

Ogra said the president is importing equipment from Belarus, Brazil and the US for mechanized farming.

“We cannot use short-term solutions for long-term problems and you know the problem of food security has bedeviled this country for a very long time.

“Nigerians need to understand that this is a process. The president has also opened the borders for the importation of food items for six months in the first instance and from grains to other staples that Nigerians eat. We do hope that this will bear fruit,” he added.