Atiku Abubakar Criticizes Tinubu’s Economic Policies, Urges Focus on Governance and Public Welfare
By Wisdom Tide
November 13, 2024
Atiku Highlights Governance Concerns Over Economic Hardships
In a recent statement, former Vice President Atiku Abubakar expressed grave concerns over President Bola Tinubu's approach to governance and economic policy, stating that the administration’s decisions are worsening the plight of Nigerians. The remarks were conveyed through Phrank Shaibu, Atiku's Special Assistant on Public Communication, in response to a recent statement from the Presidency.
Unfulfilled Promises and Rising Inflation
Atiku pointed out the government's failure to implement promised economic relief measures. “On July 8, 2024, Tinubu announced a temporary suspension of import duties on essential goods like food for 150 days, yet over 120 days have passed, and the policy is yet to take effect,” he stated. Atiku lamented the unchecked inflation, particularly food inflation, which has surpassed 40%, reaching levels not seen in decades.
He further criticized Tinubu’s administration for lacking follow-through, with the finance ministry failing to formalize the import duty relief through official channels. According to Atiku, this inaction highlights "the incompetence and disarray within the administration."
Policy Inconsistencies and Rash Decision-Making
Atiku underscored what he perceives as a lack of preparation in Tinubu’s leadership, pointing to various policy inconsistencies and sudden reversals. “Tinubu has repeatedly demonstrated a pattern of acting impulsively, with little consideration of consequences,” he remarked, citing the abrupt removal of the petrol subsidy. This measure, according to Atiku, was implemented without adequate planning, only for the government to hastily promote a compressed natural gas (CNG) initiative that has yet to take off due to infrastructure limitations.
Foreign Exchange Policy and Economic Reality
Atiku raised concerns about Tinubu’s projections for the national currency, calling them unrealistic. The administration’s mid-term projections forecast the exchange rate at N700 to the dollar in 2024, decreasing slightly to N650 by 2025. Atiku argued these predictions are disconnected from economic reality, further noting that the government continues to reference inflated foreign exchange reserves. “If Tinubu is confident in his administration’s achievements, let the Central Bank of Nigeria release its financial statements for 2023,” he challenged.
Security and Political Appointments Under Scrutiny
The former Vice President also urged the President to prioritize security, particularly in light of recent reports of a new terror group known as Lakurawa and ongoing grid collapses attributed to criminal activity. Atiku contended that Tinubu’s focus should be on strengthening security infrastructure, as this is essential for both citizen safety and attracting investment.
Atiku also criticized Tinubu’s approach to appointments, describing them as ethnocentric. He expressed concerns about the President’s decision to place individuals from his inner circle in prominent economic and security roles, stating that such actions are divisive and counterproductive to Nigeria’s stability.
Major Infrastructure Projects Face Scrutiny
Atiku also questioned the economic viability of the Lagos-Calabar coastal highway project, to which the government has allocated over $13 billion despite pressing revenue constraints. He alleged that the project displaces residents and diverts critical funds, suggesting it serves the interests of Tinubu’s allies rather than the public.
A Call for Urgent Action
Concluding his remarks, Atiku urged Tinubu to take swift and substantive action to address the pressing needs of Nigerians. With less than two years remaining in Tinubu’s term, Atiku advised the President to focus on policies that could alleviate the economic and social hardships facing millions.
“It is absurd to suggest that Atiku is envious of Tinubu’s governance style,” Shaibu said, adding that Atiku "does not aspire to inflict pain on Nigerians." He cautioned the President to be mindful of growing frustration among citizens, evidenced by recent protests where some demonstrators even displayed foreign flags in a call for change.
Nigerians’ Economic Struggles Demand Immediate Focus
Atiku closed by highlighting the deteriorating economic conditions under Tinubu’s administration. He noted that Nigeria's currency is currently the worst-performing in Africa and that the nation has fallen to the fifth-largest economy on the continent, down from the first when the APC took office in 2015. “Nigerians are struggling daily just to survive,” he stated, “and this should be Tinubu’s primary concern rather than engaging in political battles
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