Press Release
12th October, 2024
Nigerians have suffered enough, do not push them off the economic cliff
– Reverse the recent increase in Petrol Price now
Nigerian Youths For Atiku rose from its emergency meeting in Lagos on the 11th October having critIcally reviewed the state of the nation and came to the conclusion that Nigerians have indeed over endured the policy-imposed hardship in the country. They admonished President Bola Ahmed Tinubu to take a break off his clueless policies.
The group examined the recent increase in the price of Premium Medium Spirit (PMS) and its multiplier effect on the citizens. We concluded that if the government continue the trajectory, many Nigerians may end up in a distress situation regardless of the income they earn. No one needs to inform the president about the price of an essential commodity as PMS and the effect it has on the prices of commodities in the market. A situation where the average class is completely wiped off is not only dangerous for the economy; it is a catastrophic situation where the average class is gradually being pushed into extreme poverty. This will have dire consequences.
Every advanced country subsidizes the cost of living for its citizens either directly or indirectly. There is always a take back stage in such countries by way of tax refund, tax holiday and child support. In a country where citizens provide virtually everything for themselves including common portable water, roads, security and yet the government has no sense of responsibility to cushion the effects of these burdens, it shows such government does not deserve the support of any citizen.
Policies being churned out require critical analysis, testing and feedback before execution. The government seems to have become impulsive in policy decisions and chosen the path of insensitivity in the face of public outcry which has portrayed APC government as self serving. If the government is tired of serving the people, it is best the administration takes a bow instead ingnoring the cries of its citizens. Ground/standing will not help our current situation. We need to be proactive and approach issues with apt and absolute consciousness.
The CBN recently increased interest rate to 27.25% which has compelled the commercial banks to continue to lend to businesses and individuals at over 31%. No business will thrive under such situation. There is no gainsaying that if such a policy is actually working, no company will ever think of leaving Nigeria. Even when advanced countries are reducing interest rates to encourage borrowing amongst its citizens, encourage companies to borrow to enable them inject more funds to increase production capacity at cheaper prices, the Nigerian government has continued to roll out policies that negate what could have been the gains if borrowing is encouraged.
The APC government needs to approach governance with human face to avert the imminent outbreak of uncontrollable anger that could affect the peace of the country because the government cannot continue to run in isolation.
While we encourage the government to own up to its policy gaffes, we advise the government to critically review its past policies that have pushed millions of Nigerians into abject povert and reverse same
Signed
Dare Dada
Director of Public Relations,
Nigerian Youths for Atiku
