N40,000 in 2015 equivalent to N500,000 now -Dagogo

A former member of the National Assembly, Dr. Farah Dagogo, has expressed deep concern over the devaluation of the Nigerian currency, lamenting that the purchasing power of Nigerians has drastically reduced in recent years. Speaking on the occasion of Eid-ul-Adha, Dagogo urged the Federal Government to take concrete steps to address the economic woes plaguing the country.

According to Dagogo, who represented Degema/Bonny Federal Constituency in the House of Representatives, the value of N40,000 in 2015 is equivalent to over N500,000 today. He noted that this stark reality has left many Nigerians struggling to make ends meet, with prices of goods and services skyrocketing.

Dagogo also criticized what he called “anti-people and inhuman economic policies” that have worsened the suffering of Nigerians. He pointed out that what could have bought 10 bags of rice in 2015 can now only buy one bag, yet there has been no corresponding increase in real wages.

The former lawmaker urged the government to adopt more effective economic policies to alleviate the suffering of Nigerians. He emphasized that words alone were not enough and that concrete actions were needed to restore hope and prosperity to the country.

In a statement released on Saturday, Dagogo commended Nigerians for their resilience in the face of adversity, but also challenged them to demand better from their leaders. He urged the government to “walk the talk” and implement policies that would improve the lives of citizens rather than just making empty promises.

The government, he said, must do more to address the economic challenges facing the country and ensure that its actions reflect its rhetoric. Only then can it be said that it is truly working to renew hope and improve the lives of Nigerians.