Former Vice President Atiku Abubakar has criticised President Bola Tinubu over the rising cost of cooking gas, bread and other basic needs, saying Nigerians are struggling to cope with the country’s economic situation.
Atiku noted that cooking gas now sells for as high as ₦1,800 per kilogram in Abuja, while residents of parts of Lagos and Ogun states pay about ₦1,650.
He also raised concerns over the rising cost of running bakeries, revealing that nearly 40 per cent of members of the Premium Breadmakers Association of Nigeria have been forced out of business within two years.
The former Vice President said the situation was another sign of how high energy costs, expensive loans and other business expenses were affecting local businesses under the Tinubu administration.
Atiku made the remarks in a statement issued in Bauchi through the Director of Strategic Communication of the ADC Presidential Campaign Council, Naija News reports.
He said he was in the state to continue promoting his affordable life campaign and sympathise with Nigerians bearing the burden of the Federal Government’s economic policies.
According to him, the closure of many bakeries has led to job losses and increased bread prices, making it more difficult for ordinary families to afford one of their everyday food items.
He said, “The consequences are already being felt across the country. Many bakeries have closed, jobs have been lost, and the price of bread has risen sharply. For millions of families who depend on bread as an everyday staple, each increase makes feeding their households harder.”
Atiku also pointed to the recent increase in cooking gas prices, saying Nigerian families were now struggling with the cost of buying food and the cost of preparing it.
He claimed that depot prices of cooking gas rose by 31.8 per cent in one month, moving from ₦1,100 to ₦1,450 per kilogram.
The 2026 Presidential candidate of the African Democratic Congress (ADC) said bakery owners were also battling high energy bills, which he noted account for about half of their production expenses.
He cited the case of an operator whose monthly diesel bill reportedly increased from ₦9 million to ₦19 million.
Atiku added that small bakery owners would need between ₦40 million and ₦50 million to switch to alternative energy sources, while those seeking loans were being asked to pay interest rates as high as 34 per cent.
He said the situation had made it difficult for many businesses to survive, adding that the effects were being felt by workers and consumers.
Taking a swipe at the Tinubu administration, Atiku said the President’s economic reforms had failed to provide the support needed by businesses involved in local production.
He said, “From farmers to manufacturers and now bakers, the verdict on Tinubu’s economic reforms cannot be clearer: they have been a monumental failure.”
Atiku also questioned the Federal Government’s borrowing, arguing that the growing debt burden had not translated into better conditions for local businesses.
He said Nigerians had the right to demand an explanation over how the loans were being spent when businesses continued to shut down.
The former Vice President further alleged that corruption was benefiting from the government’s borrowing, although he did not provide evidence to support the claim.
Speaking on his economic plans, Atiku said his proposed administration would focus on improving local production beyond crude oil refining.
He maintained that farmers, manufacturers, bakers and other business owners would receive attention under his economic recovery plan.
“The major policy plank of my administration will be to improve local production in every sphere of the economy, not just crude oil refining.
“To farmers, manufacturers, bakers and everyone involved in local production: the Atiku Economic Recovery Plan understands your pains, and your concerns are captured in my policy objectives,” he said.
Atiku urged the Federal Government to urgently address the rising cost of energy and provide businesses with access to loans at affordable interest rates.
He said failure to tackle the situation would put more businesses at risk, lead to further job losses and make basic food items even more expensive for Nigerian households.
