Senator Ali Ndume has voiced his concerns regarding Nigeria’s current economic climate, highlighting the alarming gap between the nation’s minimum wage and the escalating prices of essential commodities.
Addressing the situation in Borno South, Ndume remarked that the current minimum wage of N70,000 is inadequate for meeting the basic requirements of Nigerians, especially given the soaring prices of food items.
“The N70,000 minimum wage cannot even cover the cost of a 50kg bag of rice, which is now priced over N100,000, nor can it accommodate a 100kg bag of beans, which is being sold for N200,000,” he stated. “This is an intolerable situation, and the government must take more decisive action to alleviate the economic hardships faced by the populace.”
His remarks come at a time when concerns over inflation, food insecurity, and the overall cost of living in Nigeria are intensifying.
Ndume also pointed out the drastic rise in fuel prices, noting that a litre of fuel, which used to cost around N200, now ranges between N970 and N1,200 in various regions of the country.
He urged for immediate reforms, emphasizing that while the government’s economic strategies may be well-meaning, they need greater alignment with the daily realities of Nigerians.
The senator underscored the necessity of returning to agricultural practices as a sustainable approach to combat the food crisis, encouraging the youth to engage in farming and other productive activities.
Additionally, Ndume expressed his apprehensions regarding the proposed tax reforms by President Bola Tinubu, urging local leaders in his constituency to oppose these measures.
He contended that the new tax policies would exacerbate the struggles of the people and advocated for concentrated efforts on food production and agricultural investments as the solution to Nigeria’s ongoing economic difficulties.
“The path forward lies in prioritizing agriculture. We must promote local production and lessen our dependence on imports,” Ndume concluded.
