Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has launched a blistering attack on President Bola Tinubu’s defence of his economic policies, dismissing the Presidency’s lengthy response as propaganda dressed up as performance and insisting that no amount of statistical manipulation can mask the deepening hardship confronting millions of Nigerians.
In a statement issued on Monday by his Senior Special Assistant on Public Communication, Phrank Shaibu and made available to The News Chronicle, Atiku accused the Tinubu administration of celebrating economic figures while ordinary Nigerians grapple with soaring living costs, hunger, unemployment and shrinking purchasing power.
“If the economy is doing so well, why are Nigerians getting poorer?” Atiku asked, describing it as the one question the Presidency failed to answer despite its extensive defence of the administration’s record.
The former Vice President argued that the government’s attempt to dismiss criticism by blaming outdated economic data was both “convenient and absurd,” noting that the consequences of policies introduced in 2024 continue to shape the lives of Nigerians in 2026.
According to him, no government implementing the 2024, 2025 and 2026 budgets simultaneously can expect Nigerians to ignore the economic pain triggered by earlier fiscal decisions.
Atiku accused the Presidency of focusing on macroeconomic gains while ignoring the harsh realities facing citizens.
“The State House celebrates GDP growth while families skip meals. It boasts of debt ratios while businesses shut their doors. It applauds statistical improvements while market women, artisans, manufacturers, transporters and young graduates battle an economy that has become increasingly hostile to honest enterprise,” he said.
‘Nigerians Can’t Eat GDP’
The former Vice President argued that economic growth means little if it fails to improve living standards.
“Nigerians cannot eat GDP. They cannot cook with debt-to-GDP ratios. They cannot pay school fees with statistical projections,” he said.
Citing the latest IMF Article IV Consultation, Atiku noted that 63 per cent of Nigerians now live below the national poverty line, while an estimated 27 million people faced food insecurity in late 2025.
Questions Fresh Borrowing Despite Rising Revenues
On public debt, Atiku said borrowing was not inherently wrong but questioned what Nigerians had gained from what he described as unprecedented borrowing under the Tinubu administration.
“If revenues have improved so dramatically, subsidy has been removed, and tax collection has increased, why does this administration continue to borrow at record levels?” he asked.
He maintained that while government officials celebrate improved fiscal indicators, Nigerians continue to endure unreliable electricity, rising unemployment, insecurity and one of the country’s worst cost-of-living crises.
‘Where Are the Subsidy Dividends?’
Atiku said Nigerians never opposed the removal of fuel subsidy but expected tangible benefits from the painful reform.
“Three years later, where are the dividends?” he asked, arguing that citizens have instead been left with record fuel prices, soaring transport costs, runaway food inflation and collapsing purchasing power.
Health, Education, Infrastructure Under Fire
The ADC presidential candidate also challenged the administration’s claims of progress in healthcare, education and infrastructure, insisting that Nigerians judge governments by outcomes rather than announcements.
He argued that hospitals remain underfunded, maternal mortality remains among the highest globally, education reforms cannot be measured by student loans alone, while businesses continue to battle crippling energy costs and poor infrastructure.
Factories Closing, Economy Shrinking
Atiku further cited figures from the Manufacturers Association of Nigeria (MAN), claiming that hundreds of manufacturing firms have shut down or become distressed under the current economic climate.
According to him, manufacturers are burdened with trillions of naira worth of unsold goods, while both multinational and indigenous companies continue to scale back operations due to rising production costs.
“Factories do not shut down because the opposition writes press statements,” he said. “They shut down because the economic environment has become increasingly hostile to production, investment and enterprise.”
‘The Nigerian People Will Deliver the Final Verdict’
Concluding his broadside, Atiku urged the Presidency to focus less on defending its record and more on addressing the country’s mounting economic challenges.
“The true report card of this administration is not written in the corridors of Aso Rock,” he said. “It is written every day in the markets, on the farms, in the factories, in hospitals, in classrooms and in millions of Nigerian homes.”
He added: “No amount of propaganda can substitute for competent governance. The Nigerian people are writing the final verdict, and it is becoming clearer with each passing day.”
