African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, has blamed President Bola Tinubu’s administration for failing to address the economic challenges forcing businesses to shut down, including the closure of nearly 40 per cent of bakeries and the rising price of cooking gas, which has reached ₦1,800 per kilogram in Abuja.
Atiku spoke in a statement posted on X on Saturday, as his campaign team prepared for a rally in Bauchi State.
His comments come amid confirmation by the Premium Breadmakers Association of Nigeria that rising operating costs have forced nearly 40 per cent of its members out of business within two years.
Earlier, DAILY POST reported that the retail price of cooking gas had surged to N1,800 per kilogram in Abuja and its environs.
Reacting to the development, Atiku said the shutdown of 40 per cent of the bakeries in the country reflected the human and business consequences of Nigeria’s high-cost economy.
"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", he stated.
He added that the economic pressure extended beyond the baking industry, citing the rising cost of cooking gas.
"The pressure extends beyond bakeries. Cooking gas now sells for as much as N1,800 per kilogram in Abuja and N1,650 in parts of Lagos and Ogun.
"If local businesses are dying while the government continues to borrow, Nigerians are entitled to ask where these loans are going. One is forced to conclude that they are feeding the corruption in Tinubu’s government," he stated.
