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CNG call for urgent action to address rising costs of commodities
By Abubakar Yunusa
The Coalition of Northern Groups (CNG), expresses deep concern over the indiscriminate rise in prices of essential commodities in Nigeria.
According to the group,the soaring costs of food items and other necessities have left Nigerians in a state of despair, struggling to provide for their families and faced with unaffordable basic necessities.
The National Coordinator of the group,Jamilu Aliyu Charanchi made the call in the statement shared with journalists in Abuja,on Tuesday.
According to the statement,”Despite the existence of the Consumer Protection Board, which should safeguard the interests of the people, the inaction on their part has only worsened the situation, fueling frustration and anger among citizens.
“This inaction has further aggravated the suffering faced by the majority of Nigerians, while a privileged few continue to live in opulence.
“It is disheartening to witness such a stark contrast between the lives of the elite and the suffering of the masses, and it is high time that resources are utilized for the benefit of all citizens.
“The exorbitant hike in food prices in Nigeria is not a result of natural market forces, but rather the self-serving interests of unscrupulous elites. These elites have manipulated the forex market, causing a scarcity of foreign exchange and subsequently driving up the cost of importing essential food items.
The current forex racketeering and hikes in commodity prices can be attributed to officials from the previous administration who are seeking to conceal their ill-gotten wealth. These individuals are converting their looted funds into foreign currencies, particularly dollars, as it is easier to hide large sums in foreign currency.
Additionally, these officials are responsible for hoarding foreign currencies, creating an artificial scarcity that fuels the demand and subsequently increases the prices of essential commodities.
The CNG firmly believes that the individuals responsible for the current hardships faced by Nigerians are those who have historically received substantial unregulated allocations of foreign currencies from the government. However, with the government now closing the doors on such practices, these individuals have resorted to manipulating commodity prices to maintain their profits.
Additionally, influential business holders who control production and importation further contribute to the prevailing difficulties. These individuals, often operating within monopolistic structures, have a significant influence on the availability and pricing of essential commodities. By controlling the supply chain, they can dictate prices and exploit the market to their advantage.
In addition to these factors, the CNG finds it unacceptable for the government to complicate the situation further with multiple taxation.
The Nigerian Customs Service, among other agencies, imposes excessive taxes and levies on businesses, hindering their growth and increasing the cost of goods. This burden is ultimately passed on to the consumers, exacerbating the already high prices. Moreover, the recent hikes in tariffs for utilities, such as electricity, only add to the financial strain faced by Nigerians.
In light of the prevailing circumstances, the Coalition of Northern Groups calls for swift and decisive action from the Federal and State Governments. It is imperative that these manipulative practices are exposed and those responsible are held accountable.
“We demand that the government identifies, exposes, and prosecutes those individuals responsible for the current hardships imposed on its citizens.
Furthermore, we urge the government to recognize the adverse effects of excessive taxation and tariff hikes and take immediate steps to review and reverse these policies.
“This action will alleviate the financial burden faced by citizens and create an environment conducive to economic recovery.
“We demand that a national executive council meeting be convened, bringing together representatives from the Central Bank of Nigeria, banking and financial institutions, Bureau De Change operators, and other stakeholders.
“Urgent action is needed to address the free float of the naira and other damaging policies that further impoverish the majority while enriching a few.
“The time for action is now. Failure to take urgent measures may result in national chaos as the frustration and anger of the people reach a breaking point, potentially leading to a complete breakdown of law and order.”
A Nigerian boxer, Segun “Success” Olanrewaju, has died after slumping during a boxing match in Ghana.
The Secretary-General of the Nigerian Boxing Board of Control (NBB of C), Remi Aboderin confirmed the death of the boxer on Sunday.
The 40-year-old boxer, nicknamed “Success”, stumbled to the canvas while fighting Jon Mbanugu, a Ghanian, at Fight Night 15 of the Ghana Professional Boxing League at Bukom Boxing Arena, Accra, on Saturday.
Olanrewaju was not punched or near his opponent when he collapsed violently in round three of the light-heavyweight bout.
The referee called the match immediately, and medical aid was ushered into the ring.
Olarenwaju died after he was rushed to Korle Bu Teaching Hospital.
Ther boxer was a former West African and national light-heavyweight champion.
He competed in 24 bouts with 13 wins, eight losses, and three draws.
In 2022, Chukwuemeka Igboanugo, another boxer, also died after suffering a technical knockout (TKO) in a bout at the National Sports Festival (NSF) in Delta.
Igboanugo died after he took a fatal blow to the nose and did not survive the hit.
President Bola Tinubu has revealed the political calculus behind his decision to approve the Federal Capital Territory Administration’s (FCTA) exit from the Treasury Single Account (TSA).
He disclosed that he first asked FCT Minister, Nyesom Wike, whether the move would give his party an electoral advantage in the nation’s capital.
Speaking during the 2025 Eid-el-Fitr homage by FCT residents at the Presidential Villa, Tinubu offered an unusually candid account of how the major fiscal reform came about—and the political considerations that shaped it.
“I remember the day Nyesom Wike came to me and said, ‘Please, take us out of this problem of TSA, so that I can do more work, and I achieve more,’” the President recounted.
According to Tinubu, before granting the request, he challenged Wike to explain how the reform would benefit not just governance but also his political interests.
“Then I said, ‘Okay, tell me what you’re about to do.’ And he presented it. And I threw in my own political guide. I said, ‘Would that give me any opportunity for my party to win the election in FCT?’”
The President, referencing the political dynamic between Wike—a member of the opposition—and himself, continued: “I said, ‘I know where you are coming from—your own party or my party. If this thing goes too much in your own favour, you will lose your job.’ Then he said, ‘Okay, we settle that, Oga.’”
President Tinubu also declared that hunger is reducing, security is improving, and Nigeria is beginning to feel the results of his administration’s reforms.
Tinubu attributed part of the visible progress in the FCT to the efforts of Minister Wike.
The President, who expressed gratitude to Almighty Allah for the successful completion of Ramadan, said Nigerians are starting to experience relief across several sectors.
“We are living in peace, and security is improving. There is satisfaction in our output. The hunger is coming down. Food prices lowering. We are able to go to the market and do business,” he said.
While addressing the diverse delegation from the FCT, Tinubu praised the spirit of discipline, prayer, and compassion exhibited during the holy month of Ramadan.
He urged Nigerians to carry those values into everyday life, especially in caring for the less privileged.
“We must continue to share. We must remember the orphanages, the widows, the have-nots—believing that we can share both in joy and in times of need,” he said.
Turning his attention to developments within the FCT, President Tinubu applauded Wike, for bringing progressive ideas and executing key projects.
He cited the revival of abandoned infrastructure, the rehabilitation of health centers and schools, and the modernization of public services.
“We wouldn’t have been able to open our mouth to even celebrate if not for the progressive ideas you have given,” Tinubu told Wike. “The health facilities are being upgraded, our teachers and schools are being rehabilitated. Thank you, Wike.”
He also commended Wike’s performance as a southerner effectively managing affairs in the heart of northern Nigeria.
“That is a very good reflection of our diversity that we must use for our prosperity,” the President noted.
In his remarks, Wike congratulated the President and the Muslim Ummah on the successful completion of the 30-day fast, describing the holy month as a season that instills values of sacrifice, self-discipline, compassion, and unity—values he said align with the President’s leadership style.
“This visit marks a historic moment,” Wike noted. “It is the first time residents of the FCT have had the opportunity to extend our greetings and best wishes to you in person during this blessed period. We are truly delighted to be here.”
Highlighting the developmental strides achieved under Tinubu’s administration, Wike praised the President’s support in enabling key institutional reforms in the FCT.
He cited the FCTA’s exit from the Treasury Single Account (TSA), the creation of the FCT Civil Service Commission, the establishment of new Mandate Secretariats for Women and Youths, and the appointment of Permanent Secretaries as landmark steps that have strengthened governance and service delivery in the territory.
“None of these significant strides would have been possible without your commitment to the well-being of the FCT and its residents,” Wike said.
He further affirmed the FCT Administration’s unwavering loyalty to the Tinubu-led government and reiterated its full commitment to the Renewed Hope Agenda.
According to him, the delegation that accompanied him to the Villa represented the rich diversity of the FCT—spanning religious, political, and traditional leaders, heads of security agencies, civil servants, members of the media, and everyday residents.
“Despite our different backgrounds, we are united in our unwavering support for your administration. This unity demonstrates our collective commitment to national progress under your visionary leadership,” the Minister added.
Wike also disclosed that the FCT is preparing an array of impactful projects for commissioning as President Tinubu’s second anniversary in office approaches.
These projects, he said, are focused on infrastructure development, improved economic opportunities, and enhanced quality of life for FCT residents.
“We still recall with gratitude your physical presence at five of the nine projects commissioned during your first anniversary. We now look forward to hosting Your Excellency again to witness firsthand the tangible progress made over the past 12 months,” Wike said.
Concluding his address, the FCT Minister offered prayers for the President, the First Lady, and the entire First Family, wishing them good health, wisdom, and divine guidance.
“May this Eid bring peace, prosperity, and continued progress to our nation,” he said.
Minister of the Federal Capital Territory, Nyesom Wike, has expressed gratitude to President Bola Tinubu for publicly acknowledging his efforts and calling him “Mr Infrastructure.”
Speaking to State House correspondents after the 2025 Eid-el-Fitr homage at the Presidential Villa, Wike described the President’s praise as a strong vote of confidence and a motivation to keep delivering results for residents of the FCT.
“I feel very happy that my boss has confidence in me,” Wike said. “If your boss, in public, says you are doing well, that, of course, is an encouragement for you to continue doing the job you’ve been assigned.”
The Minister, who has spearheaded a series of infrastructure and service delivery reforms across Abuja, said he remains committed to meeting the expectations of both the President and the people of the territory.
“For us, we’re happy to be identified in this administration, and we’ll continue to do what Abuja people will be happy with,” he said. “So I’m happy each time Mr. President talks about us and tries to say the little we have done. That means he’s watching, and we will not disappoint him.”
When asked about the next wave of infrastructure projects expected as the Tinubu administration approaches its second anniversary, Wike confirmed that a fresh round of projects is already in the works.
“The committee is working,” he revealed. “You can be assured it can’t be less than what we did last time.”