The Coalition of South East Youth Leaders (COSEYL), a sociopolitical youth group in the South East geopolitical zone of Nigeria has expressed deep concern over the alarming increase in the prices of petrol, food items and other essential services across the country.
They observed that the current economic situation has placed unbearable hardship on millions of Nigerians, who are already struggling to meet their daily needs.
Goodluck Ibem, President General, COSEYL said, “In recent times, the price of petrol has reportedly risen from about ₦900 to as high as ₦1500 per litre in several parts of the country. This sharp increase has triggered an astronomical rise in the cost of transportation, food, goods, and services. Similarly, the prices of diesel and other petroleum products have also increased significantly, further worsening the economic pressure on businesses and households.
“These developments have created a situation where the cost of living continues to rise daily, while the salaries and incomes of citizens remain largely static. Many Nigerians can no longer afford basic necessities such as food, transportation, and healthcare. Small businesses are also struggling to survive due to the high cost of energy and logistics.”
COSEYL noted with serious concern that if urgent measures were not taken to address this situation that the economic hardship facing Nigerians may deepen further and lead to severe social consequences.
Such measures according to them, should include policies aimed at stabilising the price of petroleum products, strengthening the value of the naira, supporting local production, and providing relief programmes for citizens and small businesses.
This is as they also urged the Federal Government to engage relevant stakeholders in developing sustainable solutions that will reduce the cost of living and restore hope to Nigerians.
“Nigeria is blessed with abundant resources and hardworking citizens. What Nigerians need at this critical time is responsive leadership and practical economic policies that will ease the burden on the people’, they said.
The Coalition of South East Youth Leaders expressed commitment to promoting peace, unity, and constructive engagement in national development.
“We believe that with urgent intervention, the current economic challenges can be addressed for the benefit of all Nigerians”, they stated
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