Tinubu’s economic policies caused Nigeria’s cost-of-living crisis – Atiku

Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), has criticized President Bola Tinubu for exacerbating Nigeria's cost-of-living crisis through his economic policies. In a statement released by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku stated that Tinubu cannot deny responsibility for the painful consequences faced by Nigerians today.

He pointed out that Tinubu removed fuel subsidies, led to skyrocketing fuel, transport, and food prices, and is now opposing a production subsidy proposal aimed at alleviating this burden and returning funds to Nigerians' pockets. Atiku emphasized that Tinubu did not inherit the cost-of-living crisis from Nigerians; instead, his policies created and intensified it.

He highlighted that the removal of fuel subsidies has led to higher costs for fuel, transport, food, and basic necessities, making life increasingly expensive for ordinary citizens. Furthermore, Atiku cited recent reports indicating that a significant portion of the short-term assets of major Nigerian companies is now trapped in unpaid customer bills, demonstrating the negative impact of Tinubu's economic policies on businesses and consumers alike.

He illustrated the situation with an example of a woman selling frozen food in Kubwa, emphasizing how rising transportation, energy, and restocking costs, coupled with reduced purchasing power from her poorer customers, have pushed her business to the brink. Atiku urged Nigerians to recognize the daily price increases, such as fertilizers, petrol, cement, and the US dollar, and questioned the lack of tangible benefits received by the average Nigerian despite the economic hardships.

He argued that the Production Subsidy initiative, which advocates for supporting domestic production and refining, would inject money back into people's pockets and benefit Nigerians directly. Atiku also criticized Tinubu's government for granting waivers, incentives, and concessions to multinational oil companies and politically connected businesses while opposing relief for ordinary Nigerians.

He questioned the logic behind opposing targeted support for domestic production while supporting multinational interests. In conclusion, Atiku asserted that Tinubu's economic policies have been the primary cause of Nigeria's cost-of-living crisis, and he called for a shift towards policies that directly benefit the Nigerian populace.