Former presidential candidate Atiku Abubakar has dismissed the recent defense of President Bola Tinubu’s economic policies presented by Taiwo Oyedele, the head of the Presidential Committee on Fiscal Policy and Tax Reforms. Through his assistant, Phrank Shaibu, Atiku characterized the government’s narrative as a distorted attempt to rewrite economic history.
Regarding workers’ welfare, Atiku pointed out that the government has failed to honor its own commitments, specifically regarding the new minimum wage and a promised 40 percent peculiar allowance that remains unpaid. He emphasized that these complaints originate from organized labor rather than partisan political rhetoric.
The former vice president also criticized the government’s handling of public debt. Using data from the Central Bank of Nigeria, he highlighted that government obligations to the apex bank have surged from approximately 26.9 trillion naira to over 40.38 trillion naira under the current administration. He argued that the government is merely rebranding debt through restructuring rather than actually reducing its fiscal burdens.
Atiku further contested the administration’s claim that fuel subsidy savings are funding the Nigerian Education Loan Fund. He noted that the fund’s leadership previously identified recovered proceeds from the EFCC, rather than subsidy savings, as the primary funding source. Finally, he blamed the government’s excessive borrowing for rising inflation, business closures, and widespread poverty, urging officials to move past public relations efforts and address the nation’s severe economic hardships.
