Atiku criticises Tinubu’s policies for hurting Nigerians’ purchasing power
Former Vice President Atiku Abubakar has strongly criticised the economic policies of President Bola Tinubu’s administration. He claims that more Nigerians are unable to afford homes, cars, and basic household assets due to declining purchasing power. Atiku Abubakar referenced recent Central Bank of Nigeria survey data and the SBM Jollof Index to illustrate the economic strain on families. He argues that positive macroeconomic statistics do not reflect the daily struggles of ordinary citizens.
What we know
- Atiku Abubakar said the Central Bank of Nigeria Household Expectations Survey shows poor buying conditions for vehicles, consumer durables, and property.
- He cited the survey’s figures: 28.7 points for motor vehicles, 28.9 for consumer durables, and 30.0 for buildings and landed property, with willingness to purchase even lower.
- According to the SBM Jollof Index, ingredients for a pot of jollof rice for a family of five cost an average of ₦29,578, which is over 40% of the ₦70,000 minimum wage.
- Atiku Abubakar accused the government of focusing on headline economic indicators while ignoring the declining purchasing power of households.
- He warned that weak consumer demand could undermine businesses and economic growth, arguing that real prosperity should be measured by improvements in citizens’ daily lives.
