The African Democratic Congress presidential candidate, Atiku Abubakar, has launched a scathing attack on President Bola Tinubu's administration, describing it as one of the most ruinous governments Nigeria has endured. According to Atiku, the administration's policies have made everyday life punishingly expensive, with Nigerians facing higher food, transport, and energy bills. The administration's removal of fuel subsidy and continued borrowing have also contributed to the country's economic woes.
Atiku's criticism comes as the country's public debt stands at N166.79 trillion as of June 30, 2026, according to the Debt Management Office. This represents a significant increase from N49.85 trillion in March 2023. Atiku has called on President Tinubu to provide a full account of the country's debt, including the old debt newly recorded, foreign debt, and new loans contracted since he assumed office.
Atiku's statement, signed by the Director of Strategic Communications of the ADC Presidential Campaign Council, Phrank Shaibu, also highlighted the widening gulf between official claims of economic recovery and the lived reality of ordinary Nigerians. According to Atiku, the Tinubu economy is producing two Nigerias: one where ordinary citizens are suffocating under rising costs, and another where those with wealth and privilege are better positioned to protect and multiply their fortunes.
Atiku argued that an economy cannot be declared successful simply because government revenue is rising or official statistics look better, while the purchasing power of ordinary citizens is being destroyed. He emphasized that the true test of economic policy is whether Nigerians can afford basic necessities like food, transportation, housing, education, healthcare, and electricity.
The ADC presidential candidate also questioned the government's borrowing appetite, saying that a government that claims to have more money coming in must explain why it keeps borrowing and why the people paying for its policies cannot see the promised gains. Atiku's comments are a stark contrast to the government's claims of economic recovery and growth.
Atiku's criticism of the Tinubu administration's economic policies is not the first, as he has previously spoken out against the government's handling of the economy. The ADC presidential candidate has also called on the government to apologize to Nigerians for the hardship caused by its policies and to account for the loans contracted.
The development is likely to further escalate the debate on the country's economic policies and the government's handling of the economy. As the 2027 elections approach, Atiku's comments are likely to resonate with Nigerians who are feeling the pinch of the country's economic woes. The government's response to Atiku's criticism remains to be seen.
Key points
- Atiku Abubakar criticizes President Bola Tinubu's administration for its borrowing and economic policies.
- The country's public debt stands at N166.79 trillion as of June 30, 2026.
- Atiku calls on President Tinubu to provide a full account of the country's debt.
