SUBSIDY REMOVAL: ADAMAWA BUSINESSMEN LAMENT WORSENING HARDSHIP

Business owners and residents in Yola, Adamawa State, have expressed concern over worsening economic hardship, which they attributed largely to the removal of the fuel subsidy.

Speaking with Arewa PUNCH in Yola, the residents said rising transportation costs, higher prices of goods and increased operating expenses had placed significant pressure on businesses and households.

A businessman at the Yola International Market, Gambo Julde, said the removal of the subsidy had contributed to sharp increases in transportation fares and the cost of running businesses.

He argued that higher transportation and production costs were eventually passed on to consumers through increased prices of goods and services.

A soft-drinks distributor, Jackson Ugese, said her profit margin had fallen by more than 70 per cent as the cost of goods and transportation increased.

She disclosed that she had been forced to disengage more than 65 workers across Adamawa, Taraba, Gombe and Bauchi states in an effort to reduce her wage bill.

Another businessman, John Okon, called on the Federal Government to review its economic policies, arguing that many Nigerians were struggling with the rising cost of living.

Some of the residents also criticised state governments, saying increased federal allocations following the subsidy removal had not translated into sufficient improvements in living conditions.

An APC chieftain, Mohammed Jimeta, similarly criticised the government’s economic policies and questioned whether ordinary Nigerians were benefiting from the additional resources available to state governments.

The residents said rising food, transportation and business costs were making life increasingly difficult for low and middle-income families.

They urged the Federal Government to review its economic policies and introduce measures capable of reducing the pressure on households and businesses while improving economic conditions across the country.