Rising prices for fertilizer and fuel: Atiku Abubakar's stance on economic policy

A statement made on behalf of Atiku Abubakar points to a significant rise in the prices of key commodities. According to the data provided, the cost of fertilizer has increased from 9,000 to 50,000 naira. Price hikes have also affected logistics and energy resources: the price of gasoline rose from 199 to 1,400 naira per liter, and the cost of cement climbed from 4,000 to 13,500 naira. At the same time, changes in the exchange rate occurred, where the value of the dollar against the naira rose from 450 to 1,400 naira.

According to the politician, the removal of fuel subsidies by President Bola Tinubu's administration led to an increase in transportation and food costs. Abubakar criticizes the government's rejection of the production subsidy strategy he proposed. He argues that supporting domestic production and processing, similar to energy sector development measures in the US, would help reduce the burden on consumers and stabilize prices.

Abubakar noted that current economic conditions are reducing the purchasing power of citizens and hindering business operations. Citing the example of retail traders, including frozen food sellers in Kubwa, Abuja, the politician pointed to the rise in transport and energy costs, which trigger a chain of unfulfilled financial obligations between suppliers and retailers.

The former vice president also stated the need for government price monitoring to ensure the targeted use of support measures. He emphasized that his program is aimed at developing local producers and reforming current policies to lower the cost of living in the country.