Atiku Abubakar, former vice president and presidential candidate of the African Democratic Congress, has accused President Bola Tinubu of making life unaffordable for Nigerians through economic policies that have eroded purchasing power, raised fuel, food, and transportation prices, and weakened businesses.
In a statement released on Sunday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku stated that the President could no longer hide behind economic stats while Nigerians were suffering the repercussions of his actions.
He accused the Tinubu administration of removing fuel subsidies while overseeing rising fuel, transportation, and food prices.
The statement read, “Atiku said the position being canvassed by the Crude Oil Refinery Owners Association of Nigeria for support for domestic refining, alongside President Donald Trump’s intervention to strengthen petroleum production and refining in the United States, further exposes the weakness of Tinubu’s argument against targeted support for Nigerian production.
“Tinubu did not inherit this cost-of-living crisis from Nigerians. His policies created and deepened it. He took away relief from the people, made fuel, food, transport, and basic survival more expensive, and now wants Nigerians to applaud statistics while their pockets are empty.
“Recent reports that a significant share of the short-term assets of some of Nigeria’s biggest companies is now trapped in unpaid customer bills tell the same story: companies may record sales, but customers increasingly cannot pay because Tinubu’s economy has drained their purchasing power.
“Take a woman selling frozen food in Kubwa. She pays more to transport her goods, more to power her freezer, and more to restock. Her customers are poorer, so they buy less or ask for credit. Soon she cannot restock, her supplier is owed, and Tinubu’s economic pain spreads through the entire chain.”
According to Atiku, Nigerians are facing rising fuel, food, and transportation expenses, weaker businesses, and shrinking earnings as a result of Tinubu’s economic policies, and they require immediate relief rather than further calls to patience.
The statement added, “Nigerians know the prices they meet every day. Fertilizer has moved from about N9,000 to around N50,000; petrol from about N199 to around N1,400 per liter; cement from roughly N4,000 to around N13,500; and the dollar from around N450 to about N1,400.
“And after all this pain, what has the ordinary Nigerian received? No reliable electricity. Loan for a degree. No security. No N-Power. Food is expensive. Transport is expensive. Life itself has become expensive. What exactly are Tinubu’s defenders defending?
“This is why my production subsidy is about putting money back into people’s pockets. Support what we produce and refine here, increase supply, monitor the price, and make sure Nigerians feel the benefit at the pump.
“CORAN is saying support domestic production. America understands the importance of supporting strategic energy production. Yet Tinubu attacks relief for ordinary Nigerians while his government understands perfectly well how to grant waivers, incentives, and concessions to multinational oil companies and businesses close to his administration.”
Atiku said that Nigerians deserved an economy in which increased local production would reduce costs and provide households with more disposable income.
It continued, “So why does intervention suddenly become bad economics when ordinary Nigerians are meant to benefit?
“Nigerians have now seen what Tinubu’s economics means in their daily lives: higher fuel prices, higher food prices, higher transport costs, weaker businesses, and emptier pockets. They do not need another lecture on patience. They need relief.
“The choice before Nigeria is therefore clear: continue with an economy that takes more from the people, or build one that puts money back in their pockets. Support production. Refine in Nigeria. Create Nigerian jobs. Lower the cost of living.
“Nigerians must reject a government that has made life harder and embrace a plan that makes life affordable again.”
Similarly, Kenneth Imasuagbon, an ADC stalwart and former Edo State governorship candidate, claimed that the Tinubu administration’s economic reforms had created significant suffering, increased living costs, and damaged the productive sector.
He revealed this in Benin on Sunday when speaking with journalists about the country’s status and the upcoming general election.
Imasuagbon stated that many Nigerians have lost their source of income as businesses struggled under the current economic conditions.
He argued that increasing trade links with neighboring countries would enhance supply chains and assist in stabilizing commodity prices.
He stated that Atiku’s proposal to unlock Nigeria’s borders with neighboring nations will revitalize cross-border trade, expand economic prospects, and improve the movement of products within the West African subregion.
“The economic reforms introduced by the administration of President Bola Tinubu have imposed severe hardship on citizens, increased the cost of living, and weakened the productive sector.
“The reopening of the borders will restore legitimate trans-border trade, encourage investors, stimulate local businesses, and ultimately reduce the prices of food and other essential commodities through healthy competition,” he added.
He also stated that instability had continued to impede agricultural activities in numerous areas of northern Nigeria, making regional trade a vital supplement to domestic food production.
The ADC stalwart also cited Uber’s reported exit from Nigeria after more than a decade of operations as evidence of the difficult business environment, claiming that poor economic policies discouraged investment and contributed to rising unemployment, particularly among young graduates.
Imasuagbon, who is well-known for his yearly free rice distribution to needy Nigerians, also expressed alarm about the country’s deteriorating socioeconomic situation, alleging that rising poverty had led some Nigerians to extreme survival methods.
He said that the APC-led Federal Government had failed to make basics accessible but voiced hope that an Atiku-led administration would pursue policies capable of correcting the country’s economic challenges.
The 2027 presidential race is heating up, with President Tinubu running for re-election on the APC platform and Atiku running on the ADC.
The presidential election campaign, which began in August, is becoming more focused on the economy, security, and governance.
Tinubu’s economic reforms, particularly the elimination of gasoline subsidies, continue to be a source of contention.
While the APC insists that the reforms are vital for long-term economic growth, Atiku and the ADC have criticized their impact on Nigerians and advocated for alternative measures, like a reassessment of the subsidy policy.
