Kano State Governor Alhaji Abba Kabir Yusuf has implored the business community to exhibit compassion and empathy towards the people of the state.
In a statement by Sunusi Bature Dawakin Tofa Director General Media and Publicity Government House Kano, the governor made this plea during an interactive session with the state’s business community, aiming to devise solutions to address the escalating inflation.
Yusuf expressed deep concern for the dire circumstances faced by the populace due to the persistent inflation, noting that many are unable to afford three meals a day.
He 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.
Despite the rise in the exchange rate of the Dollar, the governor believes that corrective measures can significantly alleviate the situation.
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.
Furthermore, the governor pledged to establish a high-powered Business Community Consultative Forum, which will convene regularly with government officials to combat monopolistic practices and create a conducive business environment.
He also proposed the implementation of a price regulatory mechanism to stabilize inflation and provide relief to the populace.
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.
During the interactive session, some business leaders 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 urged the governor to seek intervention from the Federal Government to stabilize the exchange rate, emphasizing the detrimental impact of inflation on both consumers and the business community.