Kalu Identifies Fuel Prices and Dollar Rate as Economic Issues

Orji Uzor Kalu, the Senator representing Abia North Senatorial District, stated during an interview on News Central Television that fuel prices and the dollar exchange rate are the two major problems crippling Nigeria’s economy. He emphasized that Nigeria cannot build a sustainable economy by relying solely on oil while importing essential goods.

Kalu, who previously served as the Governor of Abia State, called for a shift towards domestic production across all sectors to achieve long-term economic stability and growth. He criticized government officials for their reluctance to make sacrifices to improve the economic situation, noting that the economy has been unproductive since 1960.

Kalu stressed the importance of production, asserting that without it, the benefits of oil extraction will not solve the economic challenges. He concluded by stating that the proceeds from oil should be used to purchase necessary items, particularly food.