“Nigeria Not Working” – Atiku Tells Tinubu on First Anniversary

Former Vice President Atiku Abubakar marked the one-year anniversary of President Bola Tinubu’s administration with sharp criticism, asserting that “Nigeria is not working” under Tinubu’s leadership.

Reflecting on the past year, Atiku described the administration’s economic strategies as a series of “trial-and-error” policies. He pointed out that Tinubu, who succeeded ex-President Muhammadu Buhari, initially raised public expectations with promises of economic remodeling and growth. However, Atiku claims these promises remain unfulfilled, leading to increased economic instability and worsening living conditions for many Nigerians.

In a statement released on Tuesday, Atiku emphasized that Tinubu’s pledge to drive the economy to double-digit growth and alleviate extreme poverty has not materialized. Instead, he argued that Tinubu’s policies have exacerbated Nigeria’s economic challenges, including high unemployment, inflation, and widespread poverty.

Atiku criticized Tinubu’s decision to eliminate PMS subsidies and implement a new foreign exchange policy, which unified the multiple official FX windows into a single market. According to Atiku, these measures, along with others such as the tightening of monetary policy and the introduction of new taxes, have negatively impacted Nigeria’s macroeconomic stability.

Atiku pointed out that key economic indicators have deteriorated. Inflation has soared to 33.69%, food prices have increased by 40.53%, and essential goods like rice and flour have seen dramatic price hikes. Additionally, Nigeria’s position among African economies has declined, with the country now ranking behind Algeria, Egypt, and South Africa.

Atiku urged President Tinubu to reconsider his approach, emphasizing the need for well-sequenced reforms and comprehensive planning. He suggested a review of the 2024 budget, an overhaul of the Social Investment Programme to support vulnerable households, and a reassessment of tax policies to avoid further burdening the poor.

The former vice president also called for clarity on the fuel subsidy regime and a significant focus on improving national security, which he described as critical for economic stability and growth.

In conclusion, Atiku underscored his experience with economic reforms and readiness for their potential impacts, suggesting that Tinubu’s administration could benefit from adopting a more strategic and compassionate approach to governance.