A group within the Peoples Democratic Party (PDP), New Generation, has urged the Bola Tinubu-led government to address Nigeria’s rising cost of living due to its recent fuel subsidy removal.
”We urge the Nigerian government to swiftly implement effective measures and incentives to curb the rise of inflation and protect the welfare of its people,” part of the statement sent to journalists on Friday, July 7 read.
The Director General of PDP New Generation, Audu Mahmmod, signed the statement.
The group noted that:
”The sharp increase in prices of essential commodities, such as food, housing, and fuel, has created hardships for ordinary Nigerian citizens.
”Families need help to make ends meet, and businesses are finding it increasingly challenging to maintain their operations.”
The group advocated for the government to introduce fiscal policy reforms, implement monetary adjustments, support small businesses and enhance social safety nets.
”The government should also introduce targeted incentives, such as tax breaks, low-cost financing, and streamlined regulatory processes, to support the growth and sustainability of small businesses,” the group advised.
Mahmood also called on the government to bolster social safety nets by implementing targeted welfare programs, including conditional cash transfers and subsidised healthcare.
He said it would provide immediate relief to those most affected by rising prices and help alleviate poverty.
The immediate past government had earlier announced that it had secured $800 million to disburse to 50 million Nigerians as palliative for petrol subsidy removal.
But, the Tinubu-led government has yet to provide any update so far on the move.