The President of the Muslim Ummah of South West Nigeria (MUSWEN), Alhaji Rasaki Oladejo, has warned that Nigeria’s economy is increasingly exposed to volatility due to poor governance, weak institutions and overdependence on oil revenue.
Speaking at the opening of the Guild of Muslim Professionals (GMP) Convention in Ijebu-Ode, Ogun State, Oladejo said Nigerians’ ability to withstand economic and social shocks has been severely weakened. Represented by MUSWEN Deputy President II, Alhaji Thabit Wale Sonaike, he described Nigeria as one of Africa’s least resilient economies.
He cited declining per capita GDP, rising debt, infrastructure gaps, insecurity and high poverty levels as key challenges. Oladejo also noted that inflation surpassed 40 per cent in 2024, worsening hardship, while electricity shortages and food insecurity continue to deepen economic strain.
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