Index to Nigerian Newspapers

The Director-General of the Nigeria Employers’ Consultative Association Mr. Adewale-Smatt Oyerinde has expressed concerns over the rising cost of living in the country. According to him, this situation is already having a negative impact on Nigeria’s poverty and production index. Speaking in Lagos, Mr. Oyerinde said “in the last one year we have witnessed perpetual rising inflation, commodity price instability, reduced industry capacity utilization and a gradual dwindling of the purchasing power of Nigerians, all of which have further dragged many enterprises out of existence and Nigerians below the poverty lines”.

The NECA boss noted that “while the current administration has lined out policy plans to improve the living standards of the masses, such plans must be backed by deliberate and quick responses. As it is obvious to all, there is rising agitation owing to the rising cost of living, compounded by the increasing cost of PMS and threat of increment in electricity tariff amongst others.”