Nigerians Still Enjoy The Lowest Cost Of Living In Africa — FG
Nigerians are enjoying the lowest cost of living in Africa says Presidency
Presidency Nigerians enjoy the lowest cost of living in all of Africa
Nigerians have the lowest cost of living in Africa, the Presidency declared on Sunday, despite the country's skyrocketing inflation rate.
Also, it stated that President Bola Tinubu's administration was committed to “solving our economic and security challenges” and acknowledged that his reforms would result in “immediate pains, but will usher in a period of prosperity in the medium and long terms.”
The claims were made by Mr. Bayo Onanuga, the Special Advisor to the President on Information and Strategy, in a signed statement titled “Atiku Abubakar and his new hobby.”
Following allegations that Tinubu's economic policies were shattering hopes, inflicting suffering, and inspiring despair among Nigerians, Atiku Abubakar, the presidential candidate for the Peoples Democratic Party in 2023, made Onanuga's response.
The Presidency criticized Atiku's claims regarding the escalating cost of living. “his claim that the government's policies have created intense cost of living pressures are also not grounded on facts as recent comparative cost of living indices show that Nigerians still enjoy the lowest cost of living in Africa.”
Below is Atiku’s statement on X formerly known as Twitter;
“The economy's performance han, in recent works and months, been a subject of intense discourse among Nigerian citizens at home and abroad. Nigerians are gravely concerned, and rightly so, that Tinubu's poor response to Nigeria's economic challenges is setting the stage for a prolonged and deeper domestic economic cris
“His economic policies, drawn from a so-called renewed hope agenda, are ironically dashing hopes, creating pin and causing despair. The private sector is shrinking by the day as small businesses are accumulated and as Multi National Companies, confused and weary of the economy, leave Nigeria in droves. The intense cost of living pressures has created more misery for the poor in towns and villages. There is HUNGER IN THE LAND, basic commodity, including BREAD, are becoming out of reach for average Nigerians.
“His 2024 budget is a business-as-usual exercise, bereft of concrete ideas and actions that would support Nigeria's journey toward economic transformation-consisting mainly of wasteful expenditures to cater to a bloated Federal Government. Budget 2024 will not facilitate growth and cannot empower our citizens to eam a living and live a decent life.
“BAT has shown no capacity to deal with the adverse and disastrous impact of the new subsidy regime on the people and businesses and the new foreign exchange policy, which provides for a free-floating exchange rate. His initiatives are literally uninformed, arbitrary, and chaotic. BAT's palliatives are too mean, pitiable, and contemptuous of the poor. He seems genuinely lost, bewildered, and overwhelmed.
“To mask their failures, BAT and his political appointees are busy blaming his predecessor in office for bequeathing a 'dead' economy. This is a familiar game popularised by former President Buhari while in office. It reinforces what we already know: that BAT came into office unprepared.
“Tinubu and his economic management team must swallow their pride, admit their missteps and failures, and follow those who know the terrain. They must act fast before the economy sinks deeper into the abyss.
“The question is, will they? ” — AA
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