Atiku Blames Tinubu for Economic Hardship in Nigeria

Vice President Atiku Abubakar accused President Bola Tinubu's administration of deteriorating the purchasing power of Nigerians, making essential assets like homes and cars increasingly unaffordable. In a statement issued on Saturday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku referred to the latest Central Bank of Nigeria (CBN) Household Expectations Survey as a "damning verdict" on the government's economic policies.

The survey revealed buying conditions at 28.7 points for motor vehicles, 28.9 for consumer durables, and 30.0 for buildings and landed property, with willingness to purchase vehicles at 18.7 points and properties at 19.2 points. Atiku emphasized that these figures reflect the realities faced by Nigerian households under Tinubu's government.

He noted that many families are now spending their incomes on basic necessities, leaving little for savings or asset acquisition. Atiku also linked the CBN findings to rising food costs, using the SBM Jollof Index to illustrate the economic strain on households, where the cost of preparing a pot of jollof rice for a family of five averages ₦29,578, consuming over 40% of a minimum wage worker's income.