Nigeria Businesses Under Pressure: CNG Demands Price Reduction Amidst Naira Improvement

The Coalition of Northern Groups (CNG) has called on businesses to reassess their pricing strategies in light of the recent boost in the Naira's value against the dollar.

While acknowledging efforts to stabilize the currency, the CNG expressed disappointment over businesses' reluctance to adjust prices accordingly, citing the continued prevalence of exorbitant prices across Nigeria.

Emphasizing the moral and economic obligations of businesses to contribute to the well-being of Nigerians, the CNG urged them to lower prices to alleviate the financial burdens faced by many citizens.

Failure to do so, the group warned, could be perceived as deliberate economic sabotage. The statement comes amidst ongoing concerns over the impact of inflation on Nigerian households and underscores the need for concerted efforts to ensure economic stability and shared prosperity for all stakeholders.