In the midst of escalating inflation rates, the Nigerian Presidency has asserted that the country boasts the lowest living costs in Africa.
According to Punch, the administration, under President Bola Tinubu, claims to be dedicated to addressing economic and security challenges, acknowledging that reforms might cause immediate pain but are anticipated to usher in a prosperous era in the medium and long terms.
The Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, defended these claims in a statement titled ‘Atiku Abubakar and his new hobby.’
Atiku Abubakar, in response, argued that Tinubu’s handling of the nation’s challenges could lead to a prolonged and deeper economic crisis.
Atiku accused Tinubu’s economic policies, derived from the so-called Renewed Hope Agenda, of dashing hopes, causing pain, and instigating despair.
He highlighted the shrinking private sector, emasculated small businesses, and the departure of multinational companies from Nigeria.
Atiku expressed concern about the rising cost of living, asserting that basic commodities, including bread, were becoming inaccessible to average Nigerians.
In a rebuttal, the Presidency disputed Atiku’s claims, stating that recent comparative cost of living indices demonstrate that Nigerians still enjoy the lowest living costs in Africa.
Onanuga, the Special Adviser, further contested Atiku’s assertions about the private sector, insisting that the former Vice President should acknowledge the weak economy inherited by President Tinubu, necessitating a comprehensive overhaul.
The Presidency accused Atiku of hypocrisy, arguing that his criticism lacked viable policy alternatives during his run for the Presidency.
The statement emphasized that Atiku failed to propose alternatives distinct from the economic reform agenda pursued by President Tinubu.