The leadership of the Northern Youth Council of Nigeria (NYCN) has called on President Muhammadu Buhari-led government to review the national minimum wage to reflect on the present economic reality Nigerians are going through.
The NYCN National President, Isa Abubakar, in a statement made available to DAILY POST, said, “It is no longer speculation that the purchasing power of naira has dropped significantly and the higher cost of foodstuff is telling on Nigerians. People are presently living from hand to mouth in Nigeria.”
The youths also called on the government of President Buhari to immediately take steps to see how it can intervene and ameliorate the suffering of Nigerians and give them hope of living.
The youths suggested, “It is very important as well to review the monetary policy to make sure that businessmen have some sort of credit loan at a very low interest rate to help sustain their businesses, with the economic hardship on Nigerians, the economic team of Mr President must wake up and find a solution to our economic problems.”
The statement noted that it is high time for the Nigeria Labour Congress, NLC, and the Trade Union Congress of Nigeria, TUC, to step in favour of Nigerians, saying that their silence looks more like a compromise to the hardship Nigerians are suffering.
The youths observed that the government’s decision to recall currency in circulation is yielding results, stressing that there are some unpatriotic elements in the society whose action is placing a hardship on the average citizen.
The statement added that they are now buying grains like maize, soya and rice at low prices and storing them to later sell at higher prices, saying, “This has caused a skyrocket in the price of food items. There is the urgent need to arrest the situation as fast as possible, review the national minimum wage and the relevant agencies should swing into action to avoid food crisis in the country.”