The Coalition of Northern Groups, on Friday, deploreed the monetary policy committee of the Central Bank of Nigeria, saying it is the worst since Nigeria’s return to civil rule in 1999.
CNG National Coordinator, Comrade Jamilu Aliyu Charanchi, while briefing newsmen in Abuja, said in response to the current hardship facing Nigerians, the government “appears” to be adopting a trial-and-error approach to the economy.
Charanchi said this had resulted in further deterioration and exposing people to avoidable hardship.
The CNG National Coordinator who quoted data from the National Bureau of Statistics and others, said over the past year, key economic indices had worsened with no solutions in sight.
According to him, “Empirical data from NBS and others reveal that over the past year, key economic indices have worsened with no definitive and evidence-based solutions in sight.
“In this dire situation, instead of providing relief, the Monetary Policy Committee (MPC) announced an increase in interest rates, which will further devastate the economy and diminish the prospects for job creation.
“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.
“The team lacks coordination, focus, foresight, and a clear understanding of the workings of the Nigerian economy. The anti-people policies of the government only enabled the few elites to primitively acquire wealth, while the vast majority of citizens continue to languish in deep poverty.”
