The Coalition of Northern Groups (CNG) has warned of a possible revolt in Nigeria as hardship and economic deprivation persist.
The CNG Cautioned that the nation is on the brink of collapse due to escalating economic difficulties that leave people hungry.
Addressing the press in Abuja, CNG’s National Coordinator, Jamilu Aliyu Charanchi, argued that there are severe economic and social challenges facing the country and called for immediate remedy to the situation.
CNG expressed deep concern over the prevailing economic conditions in Nigeria, citing alarming statistics from the National Bureau of Statistics (NBS). “The data indicates that 133 million Nigerians are living in multidimensional poverty, while 20 million people, primarily youth, are either unemployed or underemployed,” he said.
Charanchi lamented that the general economic atmosphere is dire, with inflation creating traumatic consequences for investments, businesses, and the population at large.
According to him, Nigeria is currently facing a disturbing rise in inflation, with overall inflation climbing to 34.19% from 22.41% and food inflation surging to 40.66% from 24.82% within a year.
He highlighted the adverse impact on the cost of living, including a significant increase in electricity tariffs and a depreciation of the naira.
“The electricity tariff hike from ₦71.59 to ₦225, coupled with frequent national power grid collapses, has hampered development and industrialization efforts.
“Additionally, the naira’s depreciation from ₦463 to a dollar to ₦1,573 has led to a sharp decline in the Purchasing Managers’ Index (PMI), indicating an unhealthy trend in the private sector, he added.
The CNG criticized the government’s economic policies, describing them as anti-masses and poorly conceived.
The coalition highlighted the departure of multinational corporations and the closure of local manufacturing companies, resulting in significant job losses.
The CNG called on President Tinubu to reassess his economic advisers and tax regime committees, accusing them of prioritizing personal interests over national well-being.
The coalition also condemned the removal of fuel subsidies, which has led to a 195% increase in petrol prices, crippling the mobility of people and goods.
Charanchi rejected the government’s plan to increase fuel prices further to fund a new national minimum wage, arguing that such a move would economically burden Nigerian workers.
He urged the government to explore alternatives, such as reducing wasteful expenditure and tackling corruption, to fund the minimum wage without increasing fuel prices.
Aminu Adamu is the Managing Editor at WikkiTimes, where he oversees editorial processes and contributes to impactful journalism. His reporting focuses on accountability at the grassroots level, climate change, and other underreported issues, particularly within subnational contexts.
Aminu has conducted investigative stories that have been cross-published by reputable media outlets, showcasing his dedication to uncovering critical issues and promoting transparency. In 2023, he was selected as a GovSpend Media Fellow, further cementing his expertise in tracking public spending and governance.
