The Coalition of Northern Groups criticizes the Central Bank of Nigeria's Monetary Policy Committee, calling it the worst since 1999, and blames President Tinubu's economic team for worsening Nigeria's economic hardship with ineffective policies.
The Coalition of Northern Groups (CNG) has criticized the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), labeling it the worst since the country’s return to civilian rule in 1999. At a press briefing in Abuja, Comrade Jamilu Aliyu Charanchi, National Coordinator of CNG, expressed concern over the government’s economic policies, which he described as a trial-and-error approach.
Charanchi highlighted that the current economic hardship faced by Nigerians has worsened, citing data from the National Bureau of Statistics (NBS). He noted that key economic indicators have declined over the past year without any effective solutions from the government.
"In this dire situation, instead of providing relief, the MPC announced an increase in interest rates, which will further devastate the economy and diminish the prospects for job creation," Charanchi stated.
He argued that the economic policies of President Tinubu's administration have exacerbated the country's economic woes. "The outcome of the MPC economic policies is a clear manifestation that President Tinubu’s economic team is the worst since Nigeria’s return to civil rule in 1999," he asserted.
According to Charanchi, the team lacks coordination, focus, foresight, and a clear understanding of the Nigerian economy.
CNG's coordinator further criticized the government's policies as being anti-people, claiming they only benefit the elite while leaving the majority of Nigerians in deeper poverty.
The group urged the government to adopt more effective and evidence-based economic strategies to alleviate the suffering of the populace.
