Following the increasing rate of inflation in the country, the Presidency on Sunday claimed that Nigerians are enjoying the lowest living costs in Africa.
It also said the administration of President Bola Tinubu was focused on “solving our economic and security challenges,” and while admitting that his reforms would cause “immediate pains, but will usher in an era of prosperity in the medium and long terms.”
The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, made these assertions in a statement he signed titled ‘Atiku Abubakar and his new hobby.’
Onanuga’s response followed accusations from the Peoples Democratic Party 2023 presidential candidate, Atiku Abubakar, who said Tinubu’s economic policies were dashing hopes, creating pain, and causing despair among Nigerians.
The Presidency faulted Atiku’s assertions about the rising cost of living saying, “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.”
“Atiku’s claims that the private sector is shrinking and that multinational companies are leaving our companies in ‘droves’ are not grounded on facts,” it added.
Onanuga said the former Vice President “should be honest enough to admit that President Tinubu inherited a weak economy,” which, to all intents and purposes…needs a complete overhaul.
“Nigerians can easily see through the hypocrisy of Alhaji Atiku, who in accusing President Tinubu of poor response to the nation’s challenges and causing pains and despair, didn’t offer any better policy options in his run for the Presidency different from the economic reform agenda being pursued by President Tinubu,” the statement further read.
It added that reputable local and international agencies who understand the situation the Tinubu administration found itself have commended the administration, having seen a policy trajectory that is clearly positive, realistic and sustainable.
The Presidency noted that the administration has also embarked on comprehensive fiscal and tax policy reform that will drive speedy recovery and spur economic growth and therefore its detractors “cannot stop the serious work of nation-building already set in motion by President Tinubu.”
