Published by Alphapressmedia
Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has criticised the administration of President Bola Ahmed Tinubu over its handling of the economy, arguing that improvements in macroeconomic indicators have not translated into better living conditions for ordinary Nigerians.
In a statement issued on Monday, Atiku dismissed the Presidency’s defence of the administration’s economic record, describing it as an attempt to substitute “propaganda for performance.”
Questioning the government’s emphasis on Gross Domestic Product (GDP) growth, Atiku argued that the true measure of economic success should be reflected in the daily lives of citizens. He asked whether workers can afford more food, whether transportation costs have declined, and whether small businesses are more profitable than they were three years ago, maintaining that the answer to those questions is negative.
Citing figures from the International Monetary Fund (IMF), Atiku claimed that millions of Nigerians continue to face poverty and food insecurity. He argued that economic statistics alone cannot address the realities confronting many households, insisting that governments should be judged by improvements in citizens’ welfare rather than macroeconomic indicators.
The former Vice President also questioned the Federal Government’s continued borrowing despite reported increases in revenue and the removal of fuel subsidies. According to him, Nigerians deserve greater accountability regarding how public funds are being utilised, especially in the face of persistent economic challenges.
On the removal of fuel subsidies, Atiku stated that while reforms may have been necessary, many Nigerians are yet to experience the expected benefits. He pointed to rising fuel prices, increased transportation costs, and the high cost of food as evidence that the anticipated gains have not reached ordinary citizens.
He further argued that increased allocations to states through the Federation Account Allocation Committee (FAAC) should have translated into more visible improvements in infrastructure, employment, and social welfare.
Addressing inflation, Atiku noted that a slower inflation rate does not necessarily mean prices have fallen, stressing that many essential commodities remain significantly more expensive than they were in previous years.
The ADC presidential candidate also expressed concern over the state of Nigeria’s manufacturing sector, citing reports of company closures and rising production costs. He argued that the challenges facing manufacturers reflect broader structural issues within the economy.
Concluding his remarks, Atiku urged President Tinubu to focus on addressing current economic and social challenges, stating that leadership requires taking responsibility for present realities rather than attributing them to previous administrations.
The Presidency has consistently defended its economic reforms, maintaining that recent policy decisions are laying the foundation for long-term economic stability and sustainable growth, despite the short-term hardships experienced by many Nigerians.
