In response to the economic challenges facing Nigeria, the Coalition of Northern Groups (CNG) has voiced its support for initiatives aimed at stabilizing the nation’s currency, the naira, and enhancing its value against the dollar. The coalition commends recent efforts to address economic instability, which has adversely affected the purchasing power of Nigerians.
Expressing concern over persistently high prices despite improvements in the naira’s value, the association urges businesses to adjust their pricing strategies accordingly. It emphasizes the moral and economic responsibility of businesses to contribute to the welfare of Nigerians by reducing prices to reflect the strengthened naira.
“The current exorbitant prices are detrimental to the well-being of Nigerians and undermine efforts to stabilize the economy,” stated Comrade Jamilu Aliyu Charanchi, National Coordinator of the coalition. “Businesses must prioritize the interests of the people over excessive profits.”
While acknowledging the government’s efforts to stabilize the naira, the group underscores the need for sustained action to ensure lasting economic stability. It calls on stakeholders, including businesses, to collaborate in achieving a stable economy that benefits all Nigerians.
Furthermore, the association advocates for increased oversight of businesses engaging in unethical practices that hinder economic progress. It remains committed to advocating for the welfare of northern Nigerians and encourages businesses nationwide to uphold responsible and transparent practices.