Metro

Nigeria’s presidency counters critics, says cost of living in Nigeria lowest in Africa

Published

3 months ago

February 5, 2024

The Nigerian presidency says despite the hardship being experienced by the citizens, the cost of living in the country is actually the lowest in Africa.

The presidency, which was reacting to criticism of the economic policies of the President Bola Tinubu administration by former vice president and presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, said Nigerians were not actually worse off as being presented by political opponents.

In a statement on Sunday titled, “Atiku Abubakar and his new hobby”, issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the presidency said the former VP, having assumed the position of opposition-in-chief to President Tinubu and his government, was not backing his criticism with facts and was only peddling falsehood to suit his narratives.

Onanuga emphasized that Atiku’s claim that the government’s policies had created aggravated cost of living pressures were not grounded on facts, claiming that recent comparative cost of living indices showed that Nigerians still enjoyed the lowest cost of living in Africa.

“Alhaji Atiku Abubakar has certainly found a new hobby to keep himself busy, having failed to achieve his lifelong ambition of becoming the President of the Federal Republic of Nigeria,” the statement reads.

“He is increasingly carving for himself the role of opposition-in-chief to President Bola Ahmed Tinubu and his government.

“However, we notice that the former Vice-President, just like in his political contests, is also doing a poor job of it, offering pedestrian and uninformed interventions on our economy and other matters of public concerns.

“Atiku’s latest diatribe was another uncharitable commentary on the state of the economy and the efforts of the President Bola Tinubu administration in remoulding it for sustained prosperity.

“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.

“All the major candidates agreed that the fuel subsidy regime, which had become an albatross on the economy, must end. They all agreed that the multiple exchange rates must be fixed. Where President Tinubu and Atiku differed was in selling NNPC Limited and other national assets. Atiku went for this so he could sell these important national assets to his friends and cronies.

“President Tinubu removed the subsidy from day one and announced moves to harmonise the exchange rates. Since then, he and his economic team have been working vigorously to harmonise the rates and also end the rampant and criminal arbitrage that the multiple windows allowed.

“Minus Atiku, 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.

“Atiku’s claims that the private sector is shrinking and that multinational companies are leaving our companies in ‘droves’ are not grounded on facts.

“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.

“Instead of mouthing platitudes every time in a bid to earn cheap political mileage, Alhaji Atiku who presumes himself as the leader of opposition should tell Nigerians what he would have done better if he had been elected President.

“The former Vice President should be honest enough to admit that President Tinubu inherited a weak economy, which to all intents and purposes and to ensure the survival of the country needs a complete overhaul.

“While President Tinubu and his able team are working very hard to make our country better, ensure our economy is stronger and more competitive, Atiku Abubakar and his cohorts may continue to belly ache.

“However, they cannot stop the serious work of nation-building already set in motion by President Tinubu”, the statement said.

Related Topics:#Presidency Atiku Abubakar Cost of Living Featured President Bola Tinubu

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Metro

I saved Nigeria from bankruptcy by removing fuel subsidy— Tinubu

Published

2 hours ago

April 29, 2024

Akanimoh Etim

Nigerian President, Bola Tinubu, on Sunday, boasted that he saved Nigeria from going bankrupt by removing fuel subsidy on his first day in office.

Tinubu had, in his inaugural speech on May 29, 2023, pronounced that his administration would discontinue fuel subsidy payments and though the ripple effect of the removal has brought untold hardship and hunger, the President has continued to praise his courage in taking that decisive action.

Tinubu who spoke at the Special World Economic Forum in Riyadh, Saudi Arabia, on Sunday, admitted that though the policy came with economic pains, it was in the best interest of Nigerians, affirming that the move has save the government money for infrastructural expansion.

While addressing his audience, Tinubu argued that removing the petrol subsidy was a necessary action for Nigeria not to go bankrupt and to reset the economy towards growth.

Tinubu said that the petrol subsidy removal equally engendered accountability, transparency and physical discipline for the country.

“Concerning the question of the subsidy removal, there is no doubt that it was a necessary action for my country not to go bankrupt, to reset the economy and pathway to growth,” Tinubu said.

“Yes, there have been drawbacks. Yes, there was the expectation that a greater number of people would feel the difficulty, but, of course, I believed it was their interest that was the focus of government.

“It is easier to manage and explain the difficulties, but along the line, there was a parallel arrangement to cushion the effect of the subsidy removal on the vulnerable population of the country.

“We shared the pain across the board. We cannot but include those who are very vulnerable. Luckily, we have a very vibrant youthful population interested in discoveries by themselves, highly ready for technology, good education, and committed to growth,” Tinubu explained.

Metro

Nigerian troops neutralise 216 terrorists, arrest 332 in one week— Official

Published

23 hours ago

April 28, 2024

Akanimoh Etim

The Nigerian Army Defence Headquarters (DHQ) says troops from different operation theaters across the country neutralised 216 terrorists and arrested 332 persons in the past one week.

A report released on Sunday morning by the Director, Defence Media Operations, Maj.-Gen. Edward Buba, disclosed that troops also succeeded in arresting 24 “perpetrators of oil theft and rescued 161 kidnapped hostages across the country” in the week under review.

Buba noted that troops in the Niger Delta region denied oil thieves crude estimated to be worth the sum of Four Hundred and Forty Eight Million Five Hundred Fifty Seven Thousand Five Hundred and Ninety Naira.

According to the Army spokesman, troops in the oil rich region also discovered and destroyed 97 dugout pits, six boats, 20 storage tanks, two receivers, 16 drums and seven vehicles used in oil bunkering activities.

“Other items recovered incl 174 cooking ovens, one pumping machine and 8 illegal refining sites,” the report noted.

“Troops recovered 533,127 litres of stolen crude oil and 24,520 litres of illegally refined AGO,” he said.

Gen. Buba said that in other operation theatres, troops recovered 234 assorted weapons and 5,994 assorted ammunition.

“A breakdown of the discoveries include 131 AK47 rifles, 3 PKT guns, one M16 rifle, 43 locally fabricated gun, 21 dane guns, one 105mm gun, 2 automatic pump action guns, 18 locally fabricated pistols, 8 single barrel guns, 2 automatic pump action guns, one LG4 bomb, one MG skeleton, 3 explosive IED case, one MOWAG APC, one 81mm mortar tripod stand

“Others are; 3,120 rounds of 7.62mm special ammo, 2,195 rounds of 7.62mm NATO, 211 rounds of 9mm ammo, 99 rounds of 7.62 x 25mm ammo, 467 live cartridges, one rifle butt, 15 magazines, 2 baofeng radios, 10 vehicles, 38 motorcycles, 43 mobile phones and the sum of N871,500.00 amongst other items.”

He reiterated that the military is going to continue to be very kinetic and strong against terrorists in ongoing counter terrorism and counter insurgency operations across the country.

“Indeed, we will banish and defeat terrorism from the nation rather than bow to it.

“Troops are maintaining the momentum in neutralizing the terrorist leaders and commanders. Indeed, we remain focused in fighting for the basic safety and security of citizens of this country,” he added.