Speaking at the association’s 15th National Delegate Conference in Asaba, Delta State, with the theme: “Rescuing the Food Beverage and Tobacco Industry from the Danger of Collapse – Role and Expectations of Stakeholders,” President of the association, Jimoh Oyibo, said the theme was quite significant because of recent happenings in the country and particularly concerning the ease of doing business.
Decrying the economy, Oyibo said from the last National Delegate Conference in 2021, the nation had witnessed a lot of upheavals occasioned by the political climate and various policies of the government, from the naira redesign to the uncertainty of the electoral process and the abrupt removal of subsidy on petrol as well as the floating of the naira.
“One can hardly pick up a newspaper and not be regaled with such tales, yet no one has been adequately punished to serve as a deterrent to others. Thus, the culture of impunity and blatant disregard for the rule of law by public office holders and law enforcement agencies is rampant, and this has trickled down to our youths whom we are quick to tout as the leaders of tomorrow. It is rather shameful that this is the kind of legacy we are leaving for them.
He recalled that a couple of weeks ago, the NBS announced that the inflation rate increased to 33.69 percent in April 2024, 11.47 percent higher than the rate recorded in April 2023. Likewise, the food inflation rate in April 2024 was 40.53 percent, attributed to increased food prices.
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