The Senior Special Assistant on Media and Publicity to the President, Garba Shehu, says the high cost of living is not peculiar to Nigeria but a global phenomenon.
Shehu made this claim on a television programme on Friday.
He said the President Muhammadu Buhari administration has within the past eight years done well in ensuring food security and reducing cost of living in the country.
The presidential spokesman also blamed the global crisis on the ongoing war between Russia and Ukraine, coupled with the Covid-19 pandemic that grounded economies of the world.
“The cost of living crisis is a global phenomenon. Nigerians need to just look beyond our shores and see how national economies are going into liquidation. See what is happening to Kenya, South Africa, Ghana, and even Europe.
“There is a global crisis that has afflicted the entire (world) globally. When Covid came, all countries of the world recessed in their economies, except perhaps China.
“This has continued to be compounded by the crisis in the supply systems warranted by the ongoing situation between Ukraine and Russia and all of that. Everyone is managing a bad situation and Nigeria is not doing badly in doing this.”
