Former House of Representatives member Hon. Farah Dagogo has called on President Bola Tinubu’s administration to implement effective economic policies to ease the suffering of Nigerians.
He highlighted the dire living conditions and warned that current indicators suggest further hardship for the populace.
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In a Sallah message to Muslim faithful, Dagogo expressed concern over the persistent misery experienced by Nigerians despite the country’s wealth of natural resources.
He noted that the purchasing power of Nigerians has plummeted, with inflation reaching unprecedented levels.
Dagogo stated, “The purchasing power of Nigerians has drastically reduced over the past year. We are witnessing levels of hyperinflation never seen before, not even during the civil war. It’s a grim reality.”
He emphasized the stark contrast in the value of money, comparing ₦40,000 in 2015 to over ₦500,000 in today’s economy. He urged a critical evaluation of the costs of goods and services over this period, pointing out that labor’s demand for a living wage is justified.
“The painful truth is that the value of most people’s earnings in 2024 remains similar to that of 2015, but their purchasing power has significantly diminished,” Dagogo added.
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“Anti-people and inhuman economic policies have exacerbated the people’s suffering. The money that could buy over 10 bags of 50kg rice in 2015 now only buys one, yet there has been no real increase in earnings.”
Dagogo called for urgent intervention to reverse these trends and alleviate the widespread suffering.
“This situation cannot continue. The current hardships must be addressed. Unfortunately, all signs point to further difficulties for the citizens,” he concluded.
