Estimated reading time: 6 minute(s)
The presidential candidate of the Peoples Democratic Party (PDP) in the coming general elections, Atiku Abubakar has said more Nigerians are poorer and more miserable now than in 2015.
The PDP presidential candidate accused the All Progressives Congress (APC) led Federal Government of worsening the nation’s economy since it took over power at the centre in the last seven years.
Atiku, who was vice president between 1999 and 2007, made the remarks on Tuesday at the Private Sector Economic Forum organised by the Lagos Chamber of Commerce and Industry (LCCI) in Lagos.
“Basic commodities are now beyond the reach of the average Nigerian. A loaf of bread costs 100% more today than it did in 2020,” he lamented. “Farmers now pay more than 200% more for a bag of fertilizer – if they see it – than they did in 2020.
“The APC-led government is dressing Nigeria in borrowed robes! Nigeria is broke. Nigeria under the APC-led government has consistently run-on budget deficits since it came to power in 2015. These budget deficits are often above the three per cent threshold permissible under the Fiscal Responsibility Law.”
The former vice president believes Nigeria has lost its esteemed position as Africa’s preferred investment destination to less endowed nations.
He added that the nation’s economic, social, political, and security challenges have persisted and were beginning to assume frightening dimensions.
Atiku also decried the level of poverty and the disturbing rate of unemployment which he said were among the major factors fuelling insecurity in the land.
He, however, hinted at some of the steps his administration would take to address the nation’s security challenges and improve its economy if elected in the coming general elections.
“We will take tough and difficult decisions on security matters without fear or favour,” he said. “Investment is a coward animal and is fearful of conflicts and insecurity. I will break the jinx in infrastructure financing.
“The Nigerian economy is crawling rather than growing. Per capita income, a measure of citizens’ well-being, has progressively fallen since 2015 because of declining output and a fast-growing population. Nigerians are worse off today than they were in 2015.”
Estimated reading time: 1 minute(s)
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