Bala Sulaiman Dalhat, a Professor of Accounting and Finance at the Abubakar Tafawabalewa University Bauchi, ATBU, has described the continued inflation trends in the country’s economy as worrisome.
Albarka Radio report that the Don vetoes adoption of economic austerity measures by the Federal and State Governments in other to turn Nigeria’s economic woes around.
He said that the recently approved N565 billion bailout for states by President Mohammed Buhari will assist in blocking financial loopholes and reckless spendings in governance while promoting progress.
Professor Bala Sulaiman Dalhat said that all the 36 states of the federation must learn to become self-reliant to avoid being dependent on revenues from the federal monthly allocation to survive.
He lamented that pervasive corruption and money laundering could only be tackled if austerity measures is being taken by the central government, considering the economic instability and high inflation rates in the country.
Professor Bala Sulaiman Dalahat attributed the current economic woes of the country to the neglect of key sectors of the economy such as Agriculture, mining and manufacturing, which has posed a serious threat to the growth and development of the national economy.