The Conference of Nigeria Political Parties,(CNPP) have expressed doubt over the effectiveness of President Bola Ahmed Tinubu’s recent cabinet reshuffle.
The Conference suggested that the reshuffle may not bring meaningful improvements to the economic situation and urged citizens to temper their expectations.
In a press statement issued out to The Trumpet in Jalingo, Taraba state, by it deputy national publicity secretary James Ezema, they argued that while removing the petrol subsidy could be beneficial in the long term, the measure was introduced too quickly, without a practical plan to counter the immediate impact on purchasing power.
“Past administrations had implemented measures to ease the effect of rising fuel prices, but this government has had no concrete plans for over a year,” the statement noted.
The CNPP further warned that until the government reverses the subsidy removal and mitigates the adverse effects of the Naira’s devaluation, ordinary citizens will continue to experience worsening poverty and hunger.
The high cost of diesel, they added, is pushing up petrol prices, as diesel is essential for transporting petrol nationwide, contributing to increased landing costs.
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Small and Medium Enterprises (SMEs), as made known by the Conference, are also struggling under the burden of rising fuel costs and electricity tariffs.
The organization cautioned that without immediate adjustments, President Tinubu’s “Renewed Hope Agenda” may result in “renewed hopelessness,” as SMEs find it increasingly difficult to afford operational costs.
“More companies are shutting down, and SMEs are near collapse due to the high costs of fuel and electricity,” the CNPP emphasized.
CNPP, in the statement, urged the government to address the high transportation costs that are driving up food prices, warning that failure to act could lead to an escalating cost-of-living crisis for ordinary Nigerians.
