Yemi Obafemi
The Presidency has dismissed former Vice President Atiku Abubakar’s recent comments on Nigeria’s economic situation as unfair and lacking objectivity, stating that his criticism appears to be driven more by personal animosity than factual analysis.
It urged Atiku to acknowledge the significant progress and achievements recorded by the current administration over the past two years.
Atiku on Wednesday, described President Bola Ahmed Tinubu’s as one of the “most incompetent, disconnected, and anti-people governments” in Nigeria’s democratic history.
In a statement on his Facebook account on Wednesday, Atiku accused the Tinubu-led administration of plunging the country into deeper economic despair while promoting policies that favor the wealthy elite over the suffering masses.
“No previous administration has inflicted this level of hardship on the masses while showing such disregard for transparency, accountability, and responsible leadership,” Atiku said.
Citing the Global Hunger Index 2024, Atiku noted that Nigeria now ranks 18th among the most affected countries globally in terms of hunger and malnutrition.
He further criticized the government for what he called “wasteful public spending,” claiming that officials are living in luxury while ordinary Nigerians struggle to survive.
“At a time when millions are barely getting by, the government continues to approve lavish budgets that serve the interests of the elite,” he stated.
Citing the Global Hunger Index 2024, Atiku noted that Nigeria now ranks 18th among the most affected countries globally in terms of hunger and malnutrition.
He further criticized the government for what he called “wasteful public spending,” claiming that officials are living in luxury while ordinary Nigerians struggle to survive.
“At a time when millions are barely getting by, the government continues to approve lavish budgets that serve the interests of the elite,” he stated.
However in a statement released on Thursday, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, accused Atiku of spreading “vitriol” and presenting a distorted narrative of the country’s economic realities. Onanuga said Atiku’s remarks lacked objectivity and failed to acknowledge the significant strides the Tinubu administration has made since taking office.
“Unless former Vice President Atiku allowed personal grievances to cloud his judgment, he should, in good conscience, acknowledge the progress and achievements made over the past two years,” Onanuga stated.
He highlighted key reforms such as the removal of the fuel subsidy and unification of the foreign exchange market—measures that, according to him, previous administrations, including that of Atiku and former President Olusegun Obasanjo, recognized as necessary but failed to implement.
Onanuga also defended Tinubu’s economic policies, noting that they have stabilized public finances, reduced corruption, and attracted foreign investment. He pointed to the Nigerian Exchange’s All-Share Index doubling from 50,000 to over 110,000 and market capitalization rising from about N30 trillion to N69.4 trillion since 2023.
“Contrary to Atiku’s claim that government policies are “anti-people,” the Tinubu administration, fully acknowledging that its policies affect the vulnerable, has increased investments in social safety nets, introduced targeted interventions for low-income households, and more than doubled the minimum wage, from N30k to N70k. Some states even pay up to N85k to their workers, a feat made possible by increased federal allocations.
“Atiku’s claim that education was out of reach for poor Nigerians was entirely off the mark. Everyone knows the claim is false; it’s just an attempt to throw any muck at Bola Tinubu.
“Since last year, the government has introduced the Student Loan Scheme to ensure that underprivileged children are not denied education because of poverty. As of the last count, over 600,000 Nigerian students have benefitted from the loans. The loans cover the students’ school fees and living allowances. The loans do not yet cover Nigerians in expensive schools like Atiku’s American University in Yola. What is undeniable is that under Bola Tinubu, higher education is now more accessible to deserving youths.
“This administration has also made considerable investments in health, including revitalising primary health centres and expanding health insurance. The government is also working hard to reduce the cost of medicines.
“Atiku again ignorantly accused the Tinubu administration of borrowing fresh money to support the 2025 budget. He relied on social media gossip that the fresh loan request to the National Assembly was for that purpose. The Finance Minister has debunked this as untrue and said that even this year, the government only wants to borrow about $1.2 billion.
“Because Atiku does not like Bola Tinubu’s guts, he forgets to credit his administration with some of the fiscal achievements in the last two years. Revenue has increased phenomenally. The debt service ratio to revenue has declined from 93 per cent to 60 per cent.
“This government has paid off the $3.4 billion IMF loan obtained in the Covid years. The current administration has discontinued Ways & Means deficit financing for the first time in decades. State revenue has risen, and subnational governments now have greater resources for local development and to pay their debts. This is the only positive Atiku admitted, forgetting to praise the Tinubu government that made this possible,” the statement reads.
Responding to Atiku’s broader political opposition, Onanuga emphasized President Tinubu’s commitment to democratic principles and free speech, while urging the former vice president to make his criticisms constructive.
“Nigerians deserve opposition leaders who offer solutions, not just criticism. We invite all Nigerians to judge this administration by its actions, not by the rhetoric of those who have had their opportunities to lead and who bungled the chance in years past,” the statement concluded.
