A sociopolitical youth group, Coalition of South East Youth Leaders (COSEYL), has drawn the attention of President Bola Tinubu to the increasing hardship Nigerians are going through as a result of the high cost of living and called for urgent intervention.
“The apex sociopolitical youth group in the South East geopolitical zone expresses deep concern over the alarming increase in the prices of petrol, food items, goods, and essential services across Nigeria,” COSEYL said via statement by its national president general, Comrade Goodluck Ibem.
“The current economic situation,” the group further observed, “has placed unbearable hardship on millions of Nigerians who are already struggling to meet their daily needs.”
COSEYL lamented that, “In recent times, the price of petrol has reportedly risen from about ₦900 to as high as ₦1500 per litre in several parts of the country. This sharp increase has triggered an astronomical rise in the cost of transportation, food, goods, and services.
Similarly, the prices of diesel and other petroleum products have also increased significantly, further worsening the economic pressure on businesses and households.
“These developments have created a situation where the cost of living continues to rise daily, while the salaries and incomes of citizens remain largely static.
Many Nigerians can no longer afford basic necessities such as food, transportation, and healthcare. Small businesses are also struggling to survive due to the high cost of energy and logistics.”
COSEYL expressed concern that if urgent measures are not taken to address this situation, the economic hardship facing Nigerians may deepen further and lead to severe social consequences.
The group therefore called on President Tinubu and the Federal Government to take immediate and decisive steps to alleviate the suffering of Nigerians by stabilising the price of petroleum products, strengthening the value of the naira, supporting local production, and providing relief programs for citizens and small businesses.
“We also urge the Federal Government to engage relevant stakeholders in developing sustainable solutions that will reduce the cost of living and restore hope to Nigerians.
“Nigeria is blessed with abundant resources and hardworking citizens. What Nigerians need at this critical time is responsive leadership and practical economic policies that will ease the burden on the people,” the group noted, reiterating its commitment to promoting peace, unity, and constructive engagement in national development.
