He said in an interview with Symfoni, “I don’t agree with people about all increases in everything today. So that should not be the issue that you want us to make the more to say that a two-bedroom flat should not be more than N50,000 for example or N100,000. I don’t think that’s the problem now. The purchasing power is very low for investors because of economic effect on us. I don’t agree with Nigerians saying that the cost of living is high. I don’t sincerely agree with that. There’s never been a time that Nigerians never complained about increasing rates. There was a time even as a student, when I was in university, I wanted to go and rent maybe a self-contained [apartment] at that time and they said I should pay N100,000 a year. We also complained. N100,000 a year was too high.
Are we running a socialist government? Are we running a Communist system where everything is controlled? No. We are running a capitalist economy, and these things are driven by the market forces. Yes, government can come in by setting some regulations, but the government cannot totally take over the entire process. This is something that affects everyone. Even the rich are not exempt from it. Everything today is expensive, but that’s not something that we can blame solely on the system. We are all adjusting, and like I said, it is the market that determines these things. The government can intervene, but it can’t fully control it.”CONTINUE FULL READING>>>>>
