The Peoples Democratic Party (PDP) has reacted to the report from the National Bureau of Statistics, (NBS) placing inflation at 26.72 percent in September.
NBS had fingered increase in prices of oil and fat, bread and cereals, potatoes, yam and other tubers, fish, fruit, meat, vegetables and milk, cheese, and eggs as the causes of the inflation spike.
Speaking with reporters over the development, PDP asserted that the NBS report simply confirmed how unprepared President Bola Tinubu’s administration is for the task of governance.
The National Publicity Secretary of the party, Debo Ologunagba said that they were not surprised at the report.
He lamented that the number of Nigerians living in extreme poverty which stood at over 133 million during the Buhari regime has now risen under Tinubu.
Ologunagba, “We are not in the least surprised about the report. It is not particularly news that the prices of food and other items have pushed inflation to 26.72 per cent, it also confirms what we have always told Nigerians about this government.
“When inflation climbed to double digits after the APC took power in 2015, we told Nigerians it can only get worse because the APC can’t give what it does not have. “Like the Muhammadu Buhari administration before it, this administration has pushed more Nigerians further down into poverty. The number of Nigerians living in extreme poverty which stood at over 133 million, representing roughly 64 per cent of Nigerians during the Buhari regime, has risen under Tinubu.
“Nigerians are invited to note that when the PDP was in power, the economy was better managed, inflation was within single digits, the exchange rate of the Naira to the Dollar was around N180 to $1 USD but today, the Naira is the worst performing currency in the world exchanging at over N1,000 to $1USD.
“A 50 kg bag of rice under successive PDP governments sold for no more N8,000 per bag but now you’ll struggle to get the same bag for N50,000 at a time the national minimum wage is just N30,000 per month.
“This is the legacy the APC is leaving behind. We urge Nigerians not to despair, help is coming. We are confident that the Supreme Court which is the last hope of the common man will do justice and return our stolen mandate for our dear nation to return to the path of growth and prosperity.”