N70,000 Allowance: Northern Youths Fault Tinubu, Raise Alarm Over $20.52bn Loans

The Northern Youth Council of Nigeria (NYCN), has criticised President Bola Tinubu’s economic management, describing the federal government’s approval of a N70,000 monthly transport allowance for public service workers as inadequate amid widespread economic hardship, while raising concerns over the President’s request for approval to secure $20.52 billion and €1.045 billion in external loans.

The National President of the council, Isah Abubakar, stated this while reacting to the federal government’s agreement with the Nigeria Labour Congress (NLC) to provide a monthly transport allowance of N70,000 to public service workers for six months, beginning in November 2026.

Abubakar acknowledged the importance of supporting workers but argued that the intervention failed to address the economic difficulties confronting millions of Nigerians outside the formal public sector.

He said farmers, traders, artisans, informal sector operators, unemployed youths and other vulnerable citizens were equally affected by rising transportation costs and food inflation but had no comparable government support.

The council described the allowance as a temporary intervention that favoured a limited segment of the population instead of addressing the structural problems responsible for the country’s economic difficulties.

“Instead of fragmented palliatives, Nigeria requires a universal social safety approach.

“True economic cushion demands direct investments in public transport networks, agricultural subsidies to crash food prices, and accessible credit for small businesses,” Abubakar said.

The council also expressed concern over President Tinubu’s fresh request to the National Assembly for approval to secure $20.52 billion and €1.045 billion in external loans.

Abubakar warned that continued borrowing without demonstrable development outcomes could further burden future generations, stressing the need for government to ensure that loans translate into tangible benefits for Nigerians.

The council further argued that the removal of the petrol subsidy in May 2023, without adequate social protection measures and functional domestic refining capacity, had worsened the financial difficulties of ordinary Nigerians.

Abubakar called on the federal government to introduce measures to stabilise energy prices and support local production to reduce the impact of international economic shocks on households and businesses.