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  • News - North West - Kano
  • Updated: February 06, 2024

Governor Yusuf proposes implementation of price regulation to tackle inflation

Governor Yusuf proposes implementation of price regulation t

The Governor of Kano State, Abba Kabir Yusuf has proposed the implementation of a price regulatory mechanism to tackle inflation and provide succour to the people.

Governor Yusuf also pledged to establish a high-powered Business Community Consultative Forum in the state, which will convene regularly with government officials to combat monopoly, and create a conducive business environment for all.

The governor made this known on Monday when he hosted the state's business community to tackle the rising cost of living in the state. 

During the interaction, Governor Yusuf urged the business community to exhibit compassion and empathy towards the people of the state.

The governor who expressed concern over the challenging time, noting that many were unable to afford three meals a day, said corrective measures must be taken to tackle the inflation.

As contained in a statement by his spokesperson, Sanusi Bature Dawakin Tofa, the governor lamented that the exorbitant prices of essential goods, influenced by monopolistic practices, could be mitigated if the business community upholds moral and ethical values, emphasizing the need for a concerted effort to address the situation.

Meanwhile, some of the business leaders who spoke during the interaction attributed the inflation to factors such as high exchange rates of the Dollar, production costs, unreliable power supply for local industries, and border closures. 

They further urged the governor to seek intervention from the Federal Government to stabilize the exchange rate. 

The statement by Dawakin Tofa partly reads: "Governor Yusuf emphasized the responsibility of the state to ensure that the people feel a sense of belonging and highlighted his commitment to understanding the challenges faced by the common man.

"He has directed a comprehensive market survey of basic commodities, revealing a distressing inflation rate, and is determined to address the issue through collaborative efforts.

"Additionally, Governor Yusuf outlined plans to introduce a more effective revenue generation system to meet constitutional requirements and prevent revenue leakages.

"He urged indigenous business leaders to extend their corporate social responsibilities to their home state, emphasizing the importance of investing in their local communities."

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