Former Vice President Atiku Abubakar has raised the alarm over the rising cost of living in Nigeria, saying even a common family meal like jollof rice is becoming unaffordable for millions of households.
Atiku, in a statement on Saturday issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, said the soaring cost of preparing jollof rice reflected the worsening economic pressure on Nigerian families under the President Bola Tinubu administration.
He cited the latest SBM Jollof Index, which put the average cost of preparing a pot of jollof rice for a family of five at ₦29,578, saying the figure showed how far household incomes had been stretched.
According to Atiku, the cost of the popular meal could consume more than 40 per cent of the ₦70,000 minimum wage, leaving many workers struggling to meet other basic needs such as rent, transport, electricity, school fees and healthcare.
“Only recently, the Jollof Index told us what Tinubu’s economy has done to the Nigerian kitchen. Now the CBN survey is telling us what it has done to the Nigerian dream,” Atiku said.
The African Democratic Congress presidential candidate said the economic hardship had moved beyond food prices, adding that Nigerians were now being pushed further away from owning homes, buying cars and acquiring basic household assets.
He pointed to the Central Bank of Nigeria’s Household Expectations Survey, which showed weak willingness among Nigerians to purchase major assets.
The survey recorded purchase conditions at 28.7 points for motor vehicles, 28.9 for consumer durables and 30.0 for buildings and landed property, while willingness to buy vehicles stood at 18.7 points and buildings or land at 19.2 points.
“These are not figures manufactured by the opposition. They are the verdict of Nigerian households captured by the Central Bank under President Tinubu’s own government,” Atiku said.
He accused the administration of celebrating economic indicators such as GDP growth and foreign reserves while ignoring the struggles of ordinary citizens.
“President Tinubu should stop governing Nigeria through PowerPoint economics. The real economy is the Nigerian family’s pocket, and that pocket is increasingly empty,” he said.
Atiku said families were now forced to prioritise survival over savings, investment and long-term plans, warning that declining purchasing power could hurt businesses and economic growth.
The Federal Government has, however, continued to defend its reforms, including the removal of petrol subsidy and foreign exchange reforms, arguing that the policies are necessary to stabilise the economy and deliver long-term benefits.
But Atiku insisted that the success of any economic policy should be measured by whether ordinary Nigerians can afford basic needs and improve their standard of living.
“Before there is GDP, there must be dinner. Before there is prosperity, there must be purchasing power,” he said.
Don’t Miss Out! Join our WhatsApp Channel for instant news updates. Click here to join
ALSO READ:
WHO SENT MONEY TO ATIKU? Former VP Raises Alarm Over ‘Suspicious’ Credit
Ribadu, Ndume Under Spotlight As Arrested Borno Youth Leader’s Audio Emerges
