Omoyele Sowore, the presidential candidate of the African Action Congress (AAC) says only 0.6% of bank accounts in Nigeria have more than N500,000 in them, which confirms the impoverishment of Nigerians under the current administration.
According to Sowore, this is less than what was obtained in 2016.
He cautioned Nigerians not to vote for Bola Ahmed Tinubu, candidate of the ruling All Progressive Congress who promised to continue with the policies of the President Muhammadu Buhari-led government.
“Here is your account balance under the @OfficialAPCNg regime and their candidate @officialABAT who’s promised to continue the same policies! #WeCantContinueLikeThis,” he tweeted.
“As of today, only .6% (.6% of 128000000 = 768000) of 128 million Nigerians have N500,000 in their bank account(s)! In 2016, 1.4million had N500k today only 768k Nigerians got that much! #WeCantContinueLikeThis
“In 2016 only 1.4 million Nigerians had ₦500,000 in their bank accounts out of 70million account holders, today there are 122 million account holders. How many of them have ₦500,000 deposit in their account(s)? #WeCantContinueLikeThis”
SaharaReporters had done several reports on the economic crisis the country had been plunged into by the Buhari's directionless administration.
In August 2022, it was reported that the Buhari-led government declared that due to high budget deficit, there would be no money for Ministries, Departments and Agencies (MDAs) to undertake capital projects in 2023.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this when she gave a breakdown of the country’s budget deficit and its implications in the 2023 fiscal year.
The minister said that the government would not make provision for treasury-funded MDAs capital projects in 2023.
She revealed that the budget deficit for the 2023 fiscal year would run between N11.30trillion to N12.41trillion depending on the choice that would be made by the government on the issue of fuel subsidy.
The Finance Minister put the aggregate expenditure of the government for 2023 at N19.76trillion.
Ahmed then stressed that the country's Gross Domestic Product (GDP) is expected to grow at 3.75 percent, while upward pressure on prices is expected to be driven by the current and lag effect of the global price surge due to the Russia-Ukraine war, domestic insecurity, rising costs of imports, exchange rate depreciation as well as other supply-side constraints.