Senator Ali Ndume has criticized the current economic situation in Nigeria, lamenting the severe disconnect between the nation’s minimum wage and the rising cost of essential goods.
Speaking in Borno South, Ndume stated that the N70,000 minimum wage is insufficient to meet the basic needs of Nigerians, particularly in light of skyrocketing food prices.
“The minimum wage of N70,000 can no longer afford a 50kg bag of rice, which now costs over N100,000, nor can it cover the price of a 100kg bag of beans, which is being sold for N200,000.
“This is an unacceptable situation, and the government needs to do more to address the economic hardship that citizens are facing,” Ndume lamented.
Ndume’s comments come amid growing concerns about inflation, food insecurity, and the rising cost of living across Nigeria.
He also drew attention to the significant rise in fuel prices, noting that a litre of fuel, which previously cost around N200, is now priced between N970 and N1,200 in some parts of the country.
The senator called for urgent reforms, noting that while the current government’s economic policies are well-intentioned, they need to be better aligned with the realities faced by everyday Nigerians.
He stressed the importance of returning to agriculture as a sustainable solution to the food crisis, urging the youth to embrace farming and other productive ventures.
Ndume also voiced concerns about the proposed tax reforms from President Bola Tinubu, urging traditional leaders in his constituency to reject them.
He argued that the new tax policies would only add to the suffering of the people and that more focused efforts on food production and agricultural investments are the key to solving the country’s ongoing economic challenges.
“The only way out of this crisis is to focus on agriculture. We need to encourage local production and reduce our reliance on imports,” Ndume said.
