Inflation: Group asks FG to strengthen naira, sanction food hoarders

The African Youths Assembly for Peace (AYAP) has urged the Federal Government to make concerted efforts towards strengthening the value of naira and check the rising inflation in the country.

Mr Abdul-Aziz Yusuf, Head of Research and Information of AYAP made the call on Wednesday in an interview with our correspondent in Abuja.

While expressing concern over the prevailing economic situation, Yusuf stressed the need for the government to urgently check the rising cost of foods items and other commodities in the country.

Yusuf urged the government to ensure stringent measure by redirecting its monetary policies to stabilise the naira to tackle the problem of exchange rate.

”Government must ensure immediate and effective policy implementation that would strengthen the naira and ensure a long-term economic sustainability plan because the situation at hand required concerted effort” he said.

The AYAP scribe said the rising cost of living occasioned by the increase in food prices must be addressed by placing an embargo on food export and sanction individuals involved in hoarding food items.

”It is unfortunate that some people are taking a dangerous step of hoarding these essential commodities like food items just to put more hardship on the citizenry.

”We are in emergency situation and unpatriotic citizens are bent on using the situation to inflict more hardship on the people, I believe government should be strict in that aspect to sanction those people involve in the act.

”As far as I am concerned, hoarding food items at this critical time is a criminal act and should be treated as such” Yusuf said.

Yusuf also called on state governors to join efforts with the Federal Government to check activities of food hoarders across the country.

NEWSVERGE reports that, President Bola Tinubu had earlier directed the immediate release of 42,000 metric tons of maize, millet, garri and other commodities from the national reserve under the Presidential Committee on Emergency Food Intervention.

NEWSVERGE also reports that, the Minister of Information and National Orientation Mohammed Idris, also told reporters that the Rice Millers Association of Nigeria also committed to release about 60,000 metric tons of rice to the markets to ensure availability and affordability.