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.