Atiku: Tinubu’s Economic Policies Have Made Decent Living Unaffordable

Former Vice-President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has criticised President Bola Tinubu’s economic policies, saying they have made decent living increasingly unaffordable for many Nigerians.

Atiku made the claim in a statement issued on Saturday by his Senior Special Assistant on Public Communication, Phrank Shaibu, while reacting to the latest Central Bank of Nigeria (CBN) household expectations survey.

According to Atiku, the survey contradicts claims by the Federal Government that the economy is improving, as many households continue to struggle with declining purchasing power.

Citing the CBN report, he said buying conditions stood at 28.7 points for motor vehicles, 28.9 points for consumer durables and 30.0 points for buildings and landed property.

He added that willingness to purchase vehicles stood at 18.7 points, while willingness to purchase buildings and landed property was 19.2 points.

Atiku said the figures reflected the financial pressure faced by Nigerian households, arguing that incomes were increasingly being consumed by food, transportation, electricity, school fees and other basic necessities.

He said the situation had made home ownership, vehicle purchases and household appliances increasingly difficult for ordinary Nigerians to afford.

The former vice-president also cited the recent SBM Intelligence Jollof Index, which put the average cost of ingredients for a pot of jollof rice for a family of five at N29,578.

He noted that the amount represents more than 40 per cent of the N70,000 minimum wage, leaving workers with little income for rent, transportation, healthcare, electricity and other expenses.

Atiku accused the Tinubu administration of focusing on macroeconomic indicators such as GDP growth and foreign reserves while ignoring the decline in household purchasing power.

He warned that the situation could also affect businesses, as households with reduced disposable income would have less capacity to spend on goods and services.

According to him, economic success should be measured by whether citizens can work, earn, eat, save, invest and improve their standard of living.

Atiku urged President Tinubu to prioritise the welfare of Nigerians and address the pressures facing households rather than relying on what he described as “PowerPoint economics.”

He maintained that Nigerians should be able to feel the impact of economic reforms in their daily lives before the government can claim meaningful prosperity.