Nigerian coalition express worry over high cost of living

A day after massive protest over hardship in Minna, north central state capital of Niger, Nigeria, Coalition of Northern Groups (CNG), has expressed its deep concern over high cost living in the country.

The group spoke on via a release signed by Jamilu Aliyu Charanchi,National Coordinator of CNG.

According to him, soaring costs of food items and other necessities of life have left Nigerians in a state of despair.

He says that families can barely afford to feed.

“Despite the existence of the Consumer Protection Board, which should safeguard the interests of the people, the inaction on their part has only worsened the situation, fueling frustration and anger among citizens.

“This inaction has further aggravated the suffering faced by the majority of Nigerians, while a privileged few continue to live in opulence.

“It is disheartening to witness such a stark contrast between the lives of the elite and the suffering of the masses, and it is high time that resources are utilized for the benefit of all citizens.

“The exorbitant hike in food prices in Nigeria is not a result of natural market forces, but rather the self-serving interests of unscrupulous elite.

“These elite have manipulated the forex market, causing a scarcity of foreign exchange and subsequently driving up the cost of importing essential food items.

“The current forex racketeering and hikes in commodity prices can be attributed to officials from the previous administration who are seeking to conceal their ill-gotten wealth.

“These individuals are converting their looted funds into foreign currencies, particularly dollars, as it is easier to hide large sums in foreign currency.

“Additionally, these officials are responsible for hoarding foreign currencies, creating an artificial scarcity that fuels the demand and subsequently increases the prices of essential commodities,” Charanchi said.

CNG believes that the individuals responsible for the current hardships faced by citizens are same individuals who have received substantial unregulated allocations of foreign currencies from government in the past.

“These individuals, often operating within monopolistic structures, have a significant influence on the availability and pricing of essential commodities.

“By controlling the supply chain, they can dictate prices and exploit the market to their advantage.

“In addition to these factors, the CNG finds it unacceptable for the government to complicate the situation further with multiple taxation, the group’s statement read.

But they also singled out some government agencies for blame.

“The Nigerian Customs Service, among other agencies, imposes excessive taxes and levies on businesses, hindering their growth and increasing the cost of goods.

“This burden is ultimately passed on to the consumers, exacerbating the already high prices. Moreover, the recent hikes in tariffs for utilities, such as electricity, only add to the financial strain faced by Nigerians,” it added.

CNG asked government to identifies, exposes, individuals responsible for the current hardships imposed on its citizens.

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