The Accord Party has called on the Bola Tinubu-led government to take urgent steps to stabilize commodity prices in Nigeria, citing the growing concerns over the rising cost of consumer goods and food items.
Dele Oladeji, the party’s Lagos chair, emphasized the need for immediate action during an interview in Lagos on Wednesday.
Oladeji highlighted the pressing need for the government to investigate and address all factors contributing to inflation, stressing the importance of stabilizing commodity prices for the well-being of Nigerians.
He pointed out that high import duties, levies, and fees at various points in the supply chain, including ports, roads, and markets, were significant contributors to the persistently high prices of goods in the country.
Oladeji stressed the necessity of revisiting, reviewing, and possibly slashing or removing these fees to alleviate the financial burden on consumers and promote economic stability.
While acknowledging the recent favourable exchange rate between the dollar and the naira, Oladeji noted that currency fluctuations were just one aspect influencing prices, and other factors needed attention.
He criticized the practice of providing tax holidays and rebates to select manufacturers, stating that such measures often failed to benefit the general populace and only enriched a few wealthy industrialists.
“Any tax incentives should be conditional, requiring manufacturers to subsidize the prices of their products to benefit consumers,” he stated.
He also urged the federal government to address the multifaceted issues contributing to the rising cost of living, reiterating the need for comprehensive solutions to reverse the trend and relieve Nigerians.
Similarly, Henry Ndukuba, the primate of the Church of Nigeria, Anglican Communion, has urged President Tinubu to take swift action to alleviate the growing hardship in Nigeria.
He also called on President Tinubu to fulfil his promise of renewed hope, stating that time was running out.
“The hardship we face in Nigeria is unbearable; there is big trouble in the land. Please, help us, Mr. President, to do something. We appreciate your efforts, but we need a quick solution to the present hardship in the country,” the archbishop stated.
