{"id":124917,"date":"2024-07-20T16:01:02","date_gmt":"2024-07-20T15:01:02","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/hardship-we-see-looming-collapse-of-nigeria-northern-group-warns-tinubu"},"modified":"2024-07-20T17:09:04","modified_gmt":"2024-07-20T16:09:04","slug":"hardship-we-see-looming-collapse-of-nigeria-northern-group-warns-tinubu","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-we-see-looming-collapse-of-nigeria-northern-group-warns-tinubu","title":{"rendered":"Hardship: We see looming collapse of Nigeria \u2013 Northern group warns Tinubu"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Coalition of Northern Groups, CNG, says it has critically reviewed the current situation in Nigeria and strongly cautions against the looming precipitous collapse of the nation.<\/p>\n<p>In a statement signed by Comrade Jamilu Aliyu Charanchi, its National Coordinator, the CNG said it is deeply concerned about the general economic atmosphere, which portends imminent danger.<\/p>\n<p>The group said it was imperative for the current administration to address the escalating hardship that has permeated every segment of Nigerian society.<\/p>\n<p>\u201cToday, life has become highly unbearable for the overwhelming majority of citizens. The suffering of Nigerians is palpable across every stratum. The CNG holds the present and previous governments responsible for creating this dire situation for Nigerians,\u201d the group said.<\/p>\n<p>\u201cCurrent economic indices and data from the Nigeria Bureau of Statistics (NBS) paint an ugly picture of our reality, as it confirms that 133 million Nigerians are already living in<\/p>\n<p>multidimensional poverty, while 20 million people, mostly young within the bracket of productive age, are either completely unemployed or underemployed.<\/p>\n<p>\u201cThis is in addition to the social consequences created by insecurity, such as displacement of communities, loss of lives and properties, and psychological trauma.<\/p>\n<p>\u201cIt is no longer news that pervasive hardship across the country has eroded trust in the present government, and it\u2019s exponentially threatening national unity, peace, and security.<\/p>\n<p>\u201cIn responding to the current hardship facing Nigerians, the government appears to be adopting a trial-and-error approach to the economy, resulting in further deterioration and further exposing people to avoidable hardship. No definitive and evidence-based solutions are in sight.<\/p>\n<p>\u201cIn this dire situation, instead of providing relief, the Monetary Policy Committee, MPC, announced an increase in interest rates, which will further devastate the economy and diminish the prospects for job creation.<\/p>\n<p>\u201cThe anti-people policies of the government only enabled the few elites to primitively acquire wealth, while the vast majority of citizens continue to languish in deep poverty.<\/p>\n<p>\u201cThe CNG shares stakeholder\u2019s concerns that higher interest rates will not only reduce investments and economic growth but also aggravate the daunting challenges, inundating the business environment, leading to factory closures, job losses, and reduced economic activities.<\/p>\n<p>\u201cThe Manufacturers Association of Nigeria (MAN) reports that, within two months, over 16 multinational corporations relocated from Nigeria to neighbouring countries, over 300 local manufacturing companies were closed, and over 380 thousand jobs were lost sending Nigerians back to the labour market to search for non-existing employment opportunities.<\/p>\n<p>\u201dThe CNG wishes to unequivocally call on President Tinubu to reassess his economic advisers\/tax regime committees whose misguided counsel has led to policies prioritizing personal interests over national well-being, entrenching poverty, unemployment, inequality and insecurity.<\/p>\n<p>\u201dThese advisers have demonstrated a lack of understanding of our economic realities, perpetuating harmful policies that are disastrous for the country, and squandering the president\u2019s political capital. We urge President Tinubu to purge these advisers from his administration, as their incompetence is strangulating the nation\u2019s economy.<\/p>\n<p>\u201dAdditionally, the removal of fuel subsidies has led to a shocking 195% increase in petrol prices, from \u20a6238 to \u20a6701 per litre, crippling the mobility of people and goods across the country.<\/p>\n<p>\u201dDespite 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 nation.<\/p>\n<p>\u201dFor a long time, the CNG has held the firm view that increasing minimum wage amid rising inflation, devaluation of the naira and pervasive economic crises will never solve the problem of Nigerian workers.<\/p>\n<p>\u201cWhile we appreciate the federal government\u2019s intention to pay a decent living wage to Nigerian workers, we are sceptical over the federal government\u2019s plan to further increase the fuel price in order to fund the new national minimum wage.<\/p>\n<p><strong>For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Coalition of Northern Groups, CNG, says it has critically reviewed the current situation in Nigeria and strongly cautions against the looming precipitous collapse of the nation. In a statement signed by Comrade Jamilu Aliyu Charanchi, its National Coordinator, the CNG said it is deeply concerned about the general economic atmosphere, which [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":124916,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[254,945],"class_list":["post-124917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-nigeria","tag-tinubu"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Hardship: We see looming collapse of Nigeria \u2013 Northern group warns Tinubu - Nigeria<\/title>\n<meta name=\"description\" content=\"The Coalition of Northern Groups, CNG, says it has critically reviewed the current situation in Nigeria and strongly cau ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-we-see-looming-collapse-of-nigeria-northern-group-warns-tinubu\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hardship: We see looming collapse of Nigeria \u2013 Northern group warns Tinubu\" \/>\n<meta property=\"og:description\" content=\"The Coalition of Northern Groups, CNG, says it has critically reviewed the current situation in Nigeria and strongly cau ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-we-see-looming-collapse-of-nigeria-northern-group-warns-tinubu\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-20T15:01:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-20T16:09:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721478853.824587.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1728\" \/>\n\t<meta property=\"og:image:height\" content=\"1152\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-we-see-looming-collapse-of-nigeria-northern-group-warns-tinubu#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-we-see-looming-collapse-of-nigeria-northern-group-warns-tinubu\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Hardship: We see looming collapse of Nigeria \u2013 Northern group warns Tinubu\",\"datePublished\":\"2024-07-20T15:01:02+00:00\",\"dateModified\":\"2024-07-20T16:09:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-we-see-looming-collapse-of-nigeria-northern-group-warns-tinubu\"},\"wordCount\":651,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-we-see-looming-collapse-of-nigeria-northern-group-warns-tinubu#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/07\/sm_1721478853.824587.jpg\",\"keywords\":[\"Nigeria\",\"Tinubu\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-we-see-looming-collapse-of-nigeria-northern-group-warns-tinubu#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-we-see-looming-collapse-of-nigeria-northern-group-warns-tinubu\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/hardship-we-see-looming-collapse-of-nigeria-northern-group-warns-tinubu\",\"name\":\"Hardship: We see looming collapse of Nigeria \u2013 Northern group warns Tinubu - 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