Atiku Condemns Tinubu's Economic Policies Amid World Bank Poverty Report
Former Vice President Atiku Abubakar has voiced serious alarm over a recent World Bank report that reveals a sharp increase in poverty levels across Nigeria under the leadership of President Bola Ahmed Tinubu. Atiku emphasized that this report merely confirms the harsh daily realities faced by millions of Nigerians, stating that "over 60 per cent of Nigerians now live below the poverty line, a significant rise from approximately 40 per cent just a few years ago. This is not reform—it is regression on a monumental scale."
Policy Failures and Economic Consequences
In a detailed statement released on Friday in Abuja by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku argued that the current economic crisis is neither accidental nor unavoidable. He attributed it directly to what he described as poorly conceived and harshly implemented policies, including the abrupt removal of fuel subsidies and the chaotic devaluation of the naira, both executed without adequate safeguards for the Nigerian populace.
The consequences of these trial-and-error policies are evident across the nation:
- Food prices have spiraled out of control, making basic necessities unaffordable for many families.
- Inflation has severely eroded incomes, reducing purchasing power and financial stability.
- Small businesses are collapsing under economic pressure, leading to job losses and reduced economic activity.
- Millions more Nigerians are being pushed into extreme poverty, exacerbating social inequalities.
Atiku criticized the Tinubu administration for focusing on abstract macroeconomic indicators while ignoring the harsh reality of hunger, uncertainty, and daily survival struggles faced by citizens. He labeled this approach as economic shock therapy imposed on a vulnerable population, rather than genuine reform.
Government Response and Moral Authority
Further condemning the government's handling of economic challenges, Atiku stated, "A government that blames others while failing to shield its citizens from the shocks of a global trade war only exposes its own incompetence." He highlighted the paradox noted by the World Bank, where poverty rises despite ongoing reforms, suggesting a significant disconnect between government policy and the lived experiences of Nigerians.
Atiku asserted that a government presiding over such widespread poverty while claiming progress has lost both moral authority and economic direction. He warned that leadership should involve correcting failures rather than defending them, with the evidence of policy impact already clear in the deteriorating lives of Nigerians.
Proposed Alternative Approach
In contrast to the current administration's strategies, Atiku outlined a credible alternative approach grounded in experience, pragmatism, and compassion. His proposed framework includes:
- Carefully sequencing reforms rather than implementing them hastily to avoid unintended negative consequences.
- Establishing real, targeted, and transparent social protection programs to support vulnerable groups.
- Prioritizing economic policies that focus on job creation, food security, and income growth to uplift citizens.
He emphasized boosting productivity through support for small businesses, agriculture, and industry, alongside better coordination of fiscal and monetary policies to stabilize the economy and restore investor confidence. Atiku's core principle is straightforward: economic reform must improve lives, not punish them.
Call for Change and National Choice
Atiku warned that Nigeria cannot continue on a path where poverty deepens while the government celebrates policy experiments. He framed the nation's choice as stark: either persist on a trajectory of deepening hardship or embrace leadership committed to restoring dignity, stability, and shared prosperity. Concluding his statement, he affirmed, "Nigeria deserves better," urging a shift towards policies that genuinely benefit the populace and address the root causes of economic distress.
