The Nigerian economy’s overall decline, poverty, and growing food costs have alarmed the Labour Party (LP).
Obiora Ifoh, the party’s national publicity secretary, made this statement in reaction to the most recent National Bureau of Statistics (NBS) report, which said that the inflation rate was 25.8% in August 2023 and 26.72% in September 2023.
Ifoh stated in a Thursday interview with Newsmen that the Bola Tinubu government’s lack of empathy and inadequate planning are to blame for the decline in the Nigerian economy.
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Ifoh expressed sadness over the fact that the majority of Nigerians currently spend more than 80% of their income on food alone, in addition to energy bills and other expenses on healthcare and utilities.
The spokesman for the LP continued, saying that the Tinubu administration has not lied about its plans to support public officials’ opulent lifestyles at the expense of the suffering of the populace.
He said, “Like the NBS report rightly captured, our economic foundations have been so weakened that our inflation rate keeps soaring, leading to sluggish economic growth and thus forcing millions of Nigerians into poverty.
“It is sad that most Nigerians now spend over 80 per cent of their income on food alone; we are not talking about energy costs and out-of-pocket expenses on healthcare.
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“This government has not made pretences about its intentions with regards to funding the lavish lifestyles of those in elective office to the detriment of the suffering people of Nigeria.
“How do you explain the N2.1 trillion supplementary budget signed into law by President Bola Tinubu? How much was voted for in healthcare, roads, and infrastructure that will benefit ordinary Nigerians?
“What you see is billions to be spent on the renovation of accommodation for elected government officials and the purchase of vehicles.
“Now, more than ever before, the cost of food has risen beyond what ordinary Nigerians can afford. A bag of 50 kg of rice is over N50,000 today, up from N8,000 only a few years ago.
“What it simply means is that the monthly wage of a civil servant cannot buy a bag of rice. Even the cost of garri, yam, potatoes, maize, and other staple foods has skyrocketed beyond the reach of most Nigerian households, with no hope in sight.
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“This government lacks basic empathy for the suffering of Nigerians because, while Nigerians are crying out in anguish over the rising cost of living, officials of this administration are busy wasting scarce public funds.
“The renewed hope agenda it claims to be pursuing has since become renewed hopelessness.”
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