Kogiflame
Brought Nigeria economy activity to hurt, it will only increasing the hardship on citizens it will never bring any good to Nigeria economy it will only benefit certain sections of people.
My views on Nigeria’s economic hardship and cost of living it can be trace back to recent predicament on some government policy
(1) The border closure, aimed at regulating human and material movement, had an unintended consequence – reducing the availability of daily essentials like food.
(2) The herder-farmer crisis, which led to farmers abandoning their farms due to fear of herders, further exacerbated the issue, wish led to scarcity of food
(3) The removal of subsidies, intended to combat fraud, resulted in frequent increases in fuel prices, leading to higher transportation costs and rapid price hikes in food items.
(4) These factors combined have caused unprecedented hardship for citizens, prompting calls from the NLC for a new minimum wage to alleviate the suffering of Nigerian workers.
Moreover, a mere increase in labor salary may not adequately address the issue, especially when considering the significant disparity between the working population and the total population of the country.
With less than 40% of the population being part of the formal workforce, a salary increase may only benefit a limited segment, leaving many others struggling to make ends meet. To effectively tackle hardship, a more comprehensive approach might be necessary, such as:
– Implementing policies to improve food security and access to essential goods
– Addressing income inequality through social safety nets and support programs
– Investing in education and job creation to increase the workforce participation rate
– Encouraging economic diversification to reduce reliance on a single industry
– Strengthening price control measures to prevent unjustified price hikes
By adopting a multifaceted strategy, the government can better address the root causes of hardship and work towards ensuring a more equitable distribution of resources and opportunities for all Nigerians.
However, I believe this solution will address the root causes of hardship and may even quench the rising inflation.
In conclusion, the government must address the underlying issues mentioned above to find a lasting solution to our economic woes.”
Sign by
Dr Maruff Olarewaju
OPCI president
