Nigeria’s cost of living lowest in the whole Africa – Presidency

The Presidency has revealed that Nigerians are enjoying the lowest cost of living in Africa.

Bayo Onanuga, the Special Adviser to the President on Information and Strategy, revealed this in a statement he signed titled ‘Atiku Abubakar and his new hobby.’

Onanuga was reacting to the comments made by the People’s Democratic Party, PDP presidential candidate in the 2023 general election, Atiku Abubakar, that the Tinubu government’s economic policies were dashing hopes, creating pain, and causing despair among Nigerians.

Atiku in a statement released over the weekend said that President Tinubu’s response to the nation’s challenges was setting the stage for a prolonged and deeper economic crisis.

“The economy’s performance has, in recent weeks 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 crisis.

His economic policies, drawn from a so-called Renewed Hope Agenda, are ironically dashing hopes, creating pain and causing despair. The private sector is shrinking by the day as small businesses are emasculated and as Multinational 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 as basic commodities, including BREAD, are becoming out of reach for average Nigerians.

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 uninformed, arbitrary, and chaotic. BAT’s palliatives are too mean, pitiable, and contemptuous of the poor. He seems genuinely lost, bewildered, and overwhelmed.”

The presidential aide added that Atiku should be honest enough to admit that President Tinubu inherited a weak economy which ‘to all intents and purposes…needs a complete overhaul.’ [CONTINUE READING HERE]>>>>>