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Coalition to Tinubu: Reassess your economic advisers, revolt looms

The Coalition of Northern Groups (CNG) has called on President Bola Tinubu to reassess his economic advisers and tax regime committees, whose counsels have led to policies that plunged Nigeria into an economic crisis.

CNG expressed concern over the general economic atmosphere, which it said portends imminent danger.

Addressing journalists on Friday in Abuja, the National Coordinator of CNG, Comrade Jamilu Charanchi, said the CNG has observed that inflation has created horrible and traumatic economic consequences.

He said inflation has led to huge losses on investments, disruption of business activities, an increase in poverty, and unemployment.

The CNG noted that the present administration appears to be adopting a trial-and-error approach to the economy, resulting in further deterioration and further exposing people to avoidable hardship.

“The CNG wishes to unequivocally call on President Tinubu to reassess his economic advisers and tax regime committees, whose misguided counsel has led to policies prioritising personal interests over national well-being, entrenching poverty, unemployment, inequality, and insecurity.

“These advisers have demonstrated a lack of understanding of our economic realities, perpetuating harmful policies that are disastrous for the country, and squandering the president’s political capital. We urge President Tinubu to purge these advisers from his administration, as their incompetence is strangulating the nation’s economy.

“Additionally, the removal of fuel subsidies has led to a shocking 195% increase in petrol prices, from ₦238 to ₦701 per litre, crippling the mobility of people and goods across the country.

“Despite Nigeria increasing its crude oil production from 1.18 mbpd to 1.28 mbpd and receiving favourable oil prices of $82.57 per barrel above the earlier $76.97, this increase in revenue has, sadly, not benefited the common man nor translated into any benefit for the ation,” h he said.

On minimum wage, CNG said increasing the minimum wage amid rising inflation, devaluation of the naira, and pervasive economic crises will never solve the problem of Nigerian workers.

“While we appreciate the federal government’s intention to pay a decent living wage to Nigerian workers, we are sceptical over the federal government’s plan to further increase the fuel price in order to fund the new national minimum wage.

“Hike in fuel prices, it will not only overburden Nigerian workers, but it will also economically pauperize Nigerians. Such a move is cruel and unjustified at the moment when the majority of Nigerians cannot afford a decent meal a day.

“We reject this plan and urge the government to explore humane and innovative alternatives such as reducing wasteful expenditure and high cost of governance, tackling corruption, and increasing taxes on luxury goods to fund the minimum wage. Any wage increase that hikes fuel price is self-defeating”, Charanchi noted.

“Mr. President, The CNG feels duty-bound to draw your esteemed attention to the alarming danger on the immediate horizon, as evidenced by the dark clouds of an imminent massive revolt of citizens against the government.

“Furthermore, the CNG feels compelled to inform Mr. President that the recent announcement made by the government that 740 truckloads of rice amounting to 880,020 bags of rice will be distributed nationwide to cushion the hardship shows that these token measures are clearly and totally inadequate to tackle the problems of mass hunger affecting millions of Nigerians.

“We wish to emphasise that the public relations stunt being deployed by some sections of the Nigerian Power Elite will never solve this national problem.

“Mr President must summon the needed political will and courage to urgently address the root cause of these problems, i.e., rising fuel pump prices, hikes in electricity tariffs, escalating costs of food items, the depreciating value of the naira, and the high cost of governance.

“These problems Predated your government, but the policies your government adopted since coming to power have combined to compound these problems, especially the imposition of high taxation on both citizens and businesses.

“Mr. President, cosmetic measures are usually not sufficient to contain the raging anger of the people, particularly when they are inundated by economic hardships, massive hunger and rampant poverty, while the political class and their cohorts live a life of scandalous opulence and open ostentation”, CNG added.

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