Photo: BusinessDay
Former Vice President and ADC presidential candidate Atiku Abubakar has called on the Federal Government to urgently address rising energy costs, warning that soaring prices and expensive credit are driving productive businesses out of operation.
Atiku spoke in Bauchi on Saturday through a statement signed by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, as he promoted his affordable life campaign.
- The Premium Breadmakers Association of Nigeria has lost nearly 40% of its membership in two years, its president says
- Energy accounts for about half of bakery production costs; one operator's monthly diesel bill rose from 9 million naira to 19 million naira
- Atiku cites cooking gas at 1,800 naira per kilogramme in Abuja and interest rates of up to 34%
Why Atiku is focusing on the breadmakers
"The collapse of so many bakery businesses is a stark indictment of an economy where soaring energy costs, crushing interest rates and rising production expenses are forcing businesses to close and Nigerians to pay more for basic food," Atiku said.
The association's president, Emmanuel Onuorah, has said the industry lost close to 40% of its membership within two years because of the difficult operating environment.
Atiku added that small-scale bakeries need between 40 million and 50 million naira to switch to alternative energy sources, money most cannot raise at current lending rates.
Atiku's economic recovery pitch
"The major policy plank of my administration will be to improve local production in every sphere of the economy, not just crude oil refining," he said.
"To farmers, manufacturers, bakers and everyone involved in local production: the Atiku Economic Recovery Plan understands your pains, and your concerns are captured in my policy objectives."
What happens next
The statement is the latest exchange in the 2027 cost-of-living argument between the ADC challenger and the Tinubu administration, a central theme of NTN's MEET YOUR CANDIDATES 2027 series.
The Federal Government had not issued a specific response to the breadmakers' figures as of publication.
Credit: Vanguard, ThisDay and The Sun reports, November 14-15, 2026.
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