Governor Abba Kabir Yusuf of Kano State has expressed deep concern over the escalating cost of essential commodities, both in his state and across Nigeria, promising to personally inform Chief Bola Ahmed Tinubu of the situation.
In a statement released by his media aide, Sanusi Bature Dawakin Tofa, Governor Yusuf addressed the pressing issue of residents struggling to afford basic meals daily due to persistent inflation.
Attributing the surge in prices partially to monopolistic practices, the governor urged the business community to prioritize ethical values and collaborate with the government to address the situation.
Despite challenges posed by the rising dollar exchange rate, Governor Yusuf emphasised that corrective measures could significantly alleviate the prevailing hardships.
READ ALSO: ‘We are Suffering in this Country’, Kano Residents Protest
To better understand the challenges faced by ordinary citizens, Governor Yusuf has ordered a comprehensive market survey to assess the true extent of inflation.
He is determined to find collaborative solutions, including the establishment of a high-powered Business Community Consultative Forum. This forum aims to bring together government officials and business leaders to discuss and combat monopolistic practices, creating a more conducive business environment.
Governor Yusuf proposed the implementation of a price regulatory mechanism to stabilize inflation and provide relief to the populace. Additionally, plans were outlined to introduce a more effective revenue generation system to meet constitutional requirements and prevent revenue leakages.
During an interactive session with the Kano Business Community, leaders attributed inflation to various factors, including the high dollar exchange rate, rising production costs, unreliable power supply, and border closures.
They urged the governor to seek intervention from the Federal Government to address these critical issues.