Former Vice President Alhaji Atiku Abubakar has voiced strong criticism of President Bola Tinubu’s economic strategies, declaring that Nigerians have had enough of the “trial-and-error” approach that has characterized his administration’s policies. Atiku’s remarks came in a statement issued in Abuja, where he argued that the current policies have significantly contributed to the economic challenges facing the nation.
Responding to recent comments made by the presidency, which suggested that an Atiku-led government would have worsened Nigeria’s economic situation, the Turakin Adamawa expressed his discontent with the existing economic strategies. He emphasized the need for humility and acknowledgment of failures from the Tinubu administration, insisting that they cannot simply tax their way out of the current economic crisis.
“I have taken note of the initial responses highlighting the striking disparity between President Tinubu’s faltering economic policies and the alternatives I have proposed,” Atiku stated. He welcomed the vigorous debate surrounding these issues, asserting that it is crucial for the betterment of Nigeria and its citizens. Atiku attributed the country’s economic turmoil to the “hasty ascent” of the Tinubu administration, which he claims has been executed without a coherent plan.
Atiku contrasted the current government’s reliance on what he sees as ineffective measures, such as a national prayer led by the First Lady and the National Security Adviser, with his comprehensive recovery plan developed during his campaign. He stated, “In stark contrast, my team not only devised a comprehensive recovery plan, but also welcomed significant input from Nigerians, ensuring that our approach was inclusive and well-considered.”
He expressed concern over the economic state of the nation, highlighting the stark contrast between the previous administration under President Olusegun Obasanjo, where Nigeria experienced significant economic growth, and the current administration, which he claims has relegated the nation to a disheartening fourth position in Africa. “The average GDP rate under the Obasanjo administration that I served in was 6.59%, and peaked at 15% in 2002; 7.98% under the late Yar’Adua administration and 4.8% under Jonathan, compared to the dismal 2.8% of the so-called ‘tested’ Tinubu era,” he added.
Atiku criticized the “shambolic” economic policies currently in place, stating that they are insufficient to lift Nigeria out of its economic quagmire. He pointed to successful economic models in countries like the United Arab Emirates, Qatar, and Monaco, which have thrived by fostering growth through lower taxation. “Why then are we fixated on inflicting further hardship upon an already struggling populace?” he questioned, suggesting that the government’s policies are not addressing the root causes of the economic issues.
In a pointed conclusion, Atiku asserted, “The citizens who cast their votes in the 2023 presidential election are well aware that I did not lose; rather, we find ourselves in this predicament because the election was criminally stolen from the Nigerian people.” This statement reflects the ongoing political tensions and disputes surrounding the recent election results.
APC Responds to Atiku’s Criticism
In response to Atiku’s statements, the All Progressives Congress (APC) issued its own remarks, dismissing his policy proposals as a mere rehash of past initiatives that they claim contributed to Nigeria’s current economic difficulties. The APC, through its Media Directorate, stated that since Atiku’s electoral defeat in 2023, he has been restless and has failed to acknowledge the complexities of Nigeria’s economic challenges.
The APC’s statement criticized Atiku’s approach to subsidy removal and foreign exchange reforms, claiming that his gradualist methods have been tested previously without yielding significant results. They contended that such approaches favor opportunists and cronies at the expense of ordinary Nigerians. “Atiku’s gradualist model did not address Nigeria’s problems of old, did not fundamentally alter the structure of our economy, and cannot address our current, more complex, challenges,” they stated.
Additionally, the APC labeled Atiku’s proposed Economic Stimulus Fund and Infrastructure Development Unit as lacking clarity and concrete implementation plans. They argued that while Atiku talks about restoring unity and rebuilding the economy, he fails to provide specifics on how these goals will be achieved.
The ruling party emphasized that President Tinubu remains committed to implementing bold and effective policies that address Nigeria’s deep-seated challenges. They recognized that while reforms may be tough, they are essential for stabilizing the economy, attracting investment, improving the business environment, and lifting millions out of poverty.
The APC concluded its statement by criticizing Atiku for what they described as his relentless and indiscriminate condemnation of the administration’s policies for political gain, urging him to adopt a more statesmanlike approach.
As the political landscape continues to evolve, the exchange between Atiku Abubakar and the APC highlights the ongoing debate over Nigeria’s economic direction and the effectiveness of current leadership in addressing the nation’s pressing challenges.
