Home News “The spending power of Nigerians has increased over the last one month” – Presidential Spokesperson, Ngelale

“The spending power of Nigerians has increased over the last one month” – Presidential Spokesperson, Ngelale

Tinubu Ngelale Climate

President Bola Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, said Nigerians have experienced a significant increase in spending power in the past months in a repeat video of an interview with TVC that resurfaced on social media yesterday.

When asked about the scepticism expressed by some Nigerians who would say they are yet to see the gains for the pains they have endured due to the reforms carried out by the President, Ngelale said,

I think that that is something that could have been said perhaps two months ago. “I think that is less the case now when you consider the fact that Nigerians have borne witness that the spending power of Nigerians has substantially increased over the last month plus, given the reforms that have been put in place by this administration, even within the Central Bank of Nigeria.

Nigerians are recognising that there is a level of stability. Not just strength. It’s one thing to bring strength to the currency, and it’s another thing entirely to bring stability to the currency. To not have it fluctuating so dramatically up and down enables Nigerians to plan effectively.

Ngelale’s remarks, however, have sparked outrage among Nigerians, who vehemently contest the claims, citing the glaring disparity between the government’s narrative and the grim economic realities they face daily.

Despite assurances of stability and strength in the currency, citizens argue that the cost of living continues to skyrocket, rendering essential goods and services increasingly unaffordable.

The recent hike in fuel prices and the concurrent devaluation of the Naira have only exacerbated the situation, further eroding the purchasing power of Nigerians.

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