Former Vice President Atiku Abubakar has accused President Bola Tinubu of presiding over a severe collapse in Nigeria’s agricultural export earnings, citing a N796.4 billion reversal in the country’s agricultural trade balance over the past year. The African Democratic Congress (ADC) presidential candidate stated that the administration’s policies have left farmers exposed to insecurity while manufacturers face prohibitive production costs, undermining the government’s pledge to build a productive economy.
In a statement released by Phrank Shaibu, Director of Strategic Communication for the ADC Presidential Campaign Council, Abubakar highlighted that Nigeria’s agricultural trade shifted from a N740.27 billion surplus in the first half of 2025 to a N56.13 billion deficit in the corresponding period of 2026. He noted that agricultural exports declined by 33.3 per cent, a drop that outpaced the reduction in imports. Abubakar argued that the government cannot attribute the economic downturn solely to excessive imports, stating that the administration must answer for the loss of export earnings.
“The excuse that Nigerians simply imported too much will not stand. Tinubu’s government must answer for the collapse in what Nigeria sold to the world. The country is losing export earnings, and the President owes farmers, workers and businesses more than another speech about prosperity,” Abubakar said.
The ADC candidate criticized the current administration for failing to secure farms or reduce the cost of moving produce, arguing that Nigeria continues to export raw crops while importing finished goods at high prices. Abubakar contended that the government has made production expensive, labeling the resulting hardship as reform, while Nigerian factories struggle to compete globally. He emphasized that after more than three years in office, President Tinubu bears responsibility for decisions that have burdened producers and left the agricultural sector vulnerable.
As part of his economic platform, Abubakar pledged to introduce a domestic production subsidy for petroleum products refined within Nigeria, including those from modular refineries. He specified that the subsidy would be capped, budgeted, and independently audited to ensure savings reach consumers and businesses, while excluding imported products. Abubakar also criticized the administration’s Compressed Natural Gas (CNG) initiative, alleging that vehicle conversion costs remain out of reach for many poor Nigerians and that promised bus palliatives are largely unavailable.
Abubakar asserted that local refining is critical for broader economic stability, affecting everything from aviation fares to cooking costs and industrial feedstocks. He pledged to implement a transparent production subsidy from his first day in office, extending support to both farmers and processors. “Grow it here. Process it here. Refine it here. Create the jobs here. Make life affordable here,” he said, concluding that a government unable to convert resources into affordable products and decent jobs has failed the people it serves.
<small>Source: The Sun Nigeria — read the original story there.</small>
