By Nneka Nwogwugwu
The Minister of Works and Housing, Babatunde Fashola has stated that the rising cost of living in the country is not only affecting Nigeria.
He said this on Friday while defending Nigeria’s worsening economy on Channels Television’s Politics.
Mr Fashola was confronted with a chart showing indices such as a 220 percent increase in fertiliser prices between 2020 and 2022, decline of the naira’s value by 59.45 percent, and rise in the cost of cooking gas by 129 percent within the same time period.
“I think it is perhaps not helpful to publish that spreadsheet in isolation,” Mr Fashola said. “What you should do is to compare it with the rest of the world. Tell me anywhere in the world where the cost of living is not rising, whether it is UK, US.
“Just three days ago, CNN was showing a footage of Americans stealing fuel and they would not be stealing it if it was cheap; these are very challenging times globally for the entire world.
“So this is not an isolated occurrence that affects Nigeria only.”
He added that the Nigerian government was responding to the economic challenges.
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