The Coalition of South East Youth Leaders (COSEYL), the apex sociopolitical youth group in the South East geopolitical zone, has expressed deep concern over the alarming increase in the prices of petrol, food items, goods, and essential services across Nigeria.

The current economic situation has placed unbearable hardship on millions of Nigerians who are already struggling to meet their daily needs.

In a statement issued on Tuesday by the President General of COSEYL, Comrade Goodluck Ibem, he observed that in recent times, the price of petrol has reportedly risen from about ₦900 to as high as ₦1500 per litre in several parts of the country.

He said that the sharp increase has triggered an astronomical rise in the cost of transportation, food, goods, and services adding that the prices of diesel and other petroleum products have also increased significantly, further worsening the economic pressure on businesses and households.

He said: “These developments have created a situation where the cost of living continues to rise daily, while the salaries and incomes of citizens remain largely static”.

According to the group, while Nigerians can no longer afford basic necessities such as food, transportation, and healthcare, small businesses are also struggling to survive due to the high cost of energy and logistics.

The Coalition therefore called on President Bola Tinubu and the Federal Government to take immediate and decisive steps to alleviate the suffering of Nigerians.

The body also urged the Federal Government to engage relevant stakeholders in developing sustainable solutions that will reduce the cost of living and restore hope to Nigerians.