In a statement signed by Phrank Shaibu, Director of Strategic Communications for the African Democratic Congress (ADC) Presidential Campaign Council, former Vice‑President Atiku Abubakar criticised President Bola Tinubu’s administration as “one of the most ruinous governments Nigeria has endured.” The remarks were released in Lagos, where the ADC campaign office is based.
Atiku said the Tinubu government has removed the fuel subsidy, celebrated rising public revenues, and made everyday life “punishingly expensive” while continuing to borrow with an “extraordinary appetite.” He added that Nigerians have been asked to make sacrifices for more than three years, leaving them with higher food, transport and energy bills and strained public services.
He cited the Debt Management Office’s figures, noting that Nigeria’s recorded public debt stood at N49.85 trillion in March 2023 and had ballooned to N166.79 trillion by 30 June 2026. “A government that says more money is coming in must explain why it keeps borrowing and why the people paying for its policies cannot see the promised gains,” Atiku said.
Atiku called on President Tinubu to present a full account of the nation’s debt, including the old debt newly recorded, the foreign debt whose naira value rose with the exchange rate, and every new loan contracted since he assumed office. He urged the president to show what has been repaid and what remains outstanding, warning that “accounting explanations must not become a hiding place for fresh borrowing.”
He argued that the debt question is inseparable from the widening gulf between official claims of economic recovery and the lived reality of ordinary Nigerians. “The Tinubu economy is producing two Nigerias: one in which ordinary citizens are suffocating under rising food, fuel, transport, electricity, education and housing costs, and another in which those with wealth, access and privilege are far better positioned to protect and multiply their fortunes,” Atiku said.
“An economy cannot be declared successful simply because government revenue is rising, reserves are improving or official statistics look better while the purchasing power of ordinary citizens is being destroyed. The true test of economic policy is whether Nigerians can afford food, transportation, housing, education, healthcare and electricity.”
<small>Source: Daily Post Nigeria — read the original story there.</small>
