The Coalition of Northern Groups (CNG) has sounded the alarm over the imminent collapse of Nigeria due to the worsening economic situation and pervasive hardship across the country.
In a statement, the CNG expressed deep concern over the escalating cost of living, poverty, unemployment, insecurity, and social consequences threatening national unity, peace, and security.
The group criticized the government’s economic policies, citing the recent interest rate hike, fuel subsidy removal, and proposed minimum wage increase as measures that will only exacerbate the suffering of Nigerians.
The CNG urged President Tinubu to reassess his economic team and adopt policies that benefit all Nigerians, not just a privileged few.
With 133 million people living in multidimensional poverty and 20 million young people unemployed or underemployed, the group warned that the country is on the precipice of collapse, urging swift action to address the dire situation.
Some of the challenges the group mentioned include:
– High cost of living
– High rate of poverty
– High rate of unemployment
– Insecurity and violence
– Displacement of communities
– Psychological trauma
– Loss of trust in government
– Threats to national unity, peace and security
– Increase in interest rates
– Closure of factories
– Job losses
– Reduced economic activity
– Increase in petrol prices
– Reduction in investments and economic growth
The group has called on President Tinubu to reassess his economic team and committees and come up with policies that will benefit all Nigerians and not just a few elites ¹ ².