FG creates, drives inflation ― ADC presidential candidate

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3 years ago

The Federal Government is responsible for the inflation in the country through its various unfavorable policies that are weakening the purchasing power of Nigerians.

The presidential candidate of the African Democratic Congress (ADC), Kachikwu Dumebi, said this in Abuja.

According to him, the government has deployed tactics of taxing the people where it is not expanding opportunities for Nigerian businesses thereby weakening her purchasing power and demanding her pay more for goods and services.

He challenged the federal government to direct banks to present records of businesses they have supported in the last seven years to boost the company’s revenue and by extension provide resources to the various businesses to pay taxes.

Dumebi said it was impossible for the Nigerian government to control inflation when its policies drove inflation in the country.

He wondered how workers in the country can cope with a difficult reality where their minimum wage is lower than a bag of rice in the market, one of the nation’s stable

His words: ‘“Inflation begins in our ports in Nigeria. Imagine the young lady who is bringing in something inside to trade. You tell her that a 20ft container is N5m even if what she has there is about $2,000. You do not care, that is a flat rate.

40ft container is N7 to N9m, the trader has to now look at the cost imposed on that container, factor it into what she brought in, and the consumer, you, and I suffer the price hike that has been steadily rising in the past few months.

‘’Now diesel is N900 a liter, a trailer that use to come from Lagos to Abuja at some point was charging N120,000 to N150,000 went to N250,00, rose to N300,000 and up again to N350,000 that trailer now is about N1.5m factor that into the cost of your business and sees if there would not be inflation in Nigeria it cuts across the board for business.

“So, this government is not looking at causes and drivers of inflation, they keep up doing the wrong things. They destroy the oil sector, now they are trying to raise the revenue from taxes and from every single thing, you cannot be taking from what you are not giving.

‘’That is what this government keeps doing because they are destroying thousands of businesses on a daily basis. The worst is that for every business that is destroyed, there is a job that is lost. That is the worst thing and the people in that bracket.’’

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