The Presidency has asserted that Nigerians enjoy the lowest cost of living in Africa despite the country’s skyrocketing inflation rate.

It also stated that President Bola Tinubu’s administration was committed to “solving our economic and security challenges” and acknowledged that his changes would result in “immediate pains, but will usher in an era of prosperity in the medium and long terms.”

These claims were stated in a signed statement headlined “Atiku Abubakar and his new hobby” by Mr. Bayo Onanuga, Special Advisor to the President on Information and Strategy.

Following allegations from Atiku Abubakar, the presidential candidate for the Peoples Democratic Party in 2023, that Tinubu’s economic policies were crushing hopes, inflicting suffering, and inspiring hopelessness among Nigerians, Onanuga responded.

The Presidency faulted Atiku’s assertions about the rising cost of living saying, “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.”

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

Onanuga said the former Vice President “should be honest enough to admit that President Tinubu inherited a weak economy,” which, to all intents and purposes…needs a complete overhaul.

“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,” the statement further read.