Former Vice President Atiku Abubakar criticizes government's economic policies, citing declining purchasing power for Nigerians
Former Vice President Atiku Abubakar has criticized the current administration, stating that its economic policies have worsened the purchasing power of Nigerians. He referenced the latest Central Bank of Nigeria Household Expectations Survey, which indicates that families are increasingly unable to afford homes, cars, and basic household assets. Atiku, through his Senior Special Assistant on Public Communication, Phrank Shaibu, said the survey's findings contradict government claims of economic recovery. The CBN survey showed low buying conditions for motor vehicles 28.7 points, consumer durables 28.9 points, and buildings/landed property 30.0 points, with even lower willingness to purchase these items. Atiku highlighted that these figures, from the Central Bank under the current government, reflect the expectations and purchasing decisions of Nigerian households. He argued that the economic crisis extends beyond rising food prices, affecting Nigerians' ability to accumulate assets and improve their standard of living, making homes and cars increasingly unaffordable. Many families are exhausting their incomes on necessities, leaving little for savings or asset acquisition. Atiku linked these findings to the SBM Jollof Index, noting that the cost of preparing jollof rice for a family of five ₦29,578 consumes over 40 percent of Nigeria's ₦70,000 minimum wage. He accused the administration of focusing on headline economic indicators while neglecting declining household purchasi
