Khamis Badmus, an industrialist, has appealed to President Bola Tinubu to fast-track policies that would control the high inflation in the country.
Mr Badmus, also the Asiwaju Musulumi of Yoruba, Edo and Delta, appealed while speaking with journalists on Monday in Osogbo.
He decried that small businesses were passing through tough times due to inflation and a high electricity tariff.
“People who are in the production sector are passing through a lot now. They have invested billions of naira in their businesses but with little or no returns due to inflation.
“Many industries have started relocating due to the harsh business environment, but some of us don’t have anywhere to go.
“And that is why we are appealing to the federal government to fast-track policies that will reduce inflation as well as the electricity tariff in the country,” he said.
Mr Badmus said he had to shut down some sections of his farms due to the high electricity tariff. His monthly electricity bill had increased from N5 million to N15 million.
According to him, this affects production, eventually leading to the workforce’s downsizing.
Mr Badmus, however, said that, given the president’s promise that the pain would be temporary, he believes the economy will soon improve.
NAN