In a fiery statement posted on his X handle, former Vice President and 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has once more sharply criticized President Bola Tinubu’s approach to Nigeria’s economic challenges, accusing the administration of lacking a coherent strategy.
Abubakar’s remarks come after the Presidency response to his earlier attack on Tinubu’s government economic policies.
Atiku in a post on his social media handle on Sunday had critiqued Tinubu’s handling of foreign exchange reforms and subsidy removal, proposing alternative approaches he claimed would be more effective.
In a direct retort to Abubakar’s criticisms, Bayo Onanuga, Special Adviser on Information and Strategy to President Tinubu, dismissed Abubakar’s suggestions as “untested” and “overly simplistic,” asserting that they lacked practical depth.
“We have just read a statement credited to former Vice President Alhaji Atiku Abubakar, in which he tried to discredit President Bola Tinubu’s economic reform programmes while pushing his untested agenda as a better alternative,” Onanuga remarked. He argued that the reforms, including the removal of fuel subsidies and forex realignment, were essential to dismantling long-standing economic hurdles.
Onanuga further criticized Abubakar’s tenure as vice president, specifically citing his role in controversial privatisation programs and his focus on private ventures over public services.
“If he had won the election, we believe he would have plunged Nigeria into a worse situation or run a regime of cronyism,” Onanuga stated, labeling Abubakar’s proposals as mere political rhetoric without real solutions.
But in a fresh post on Monday, Atiku, reflecting on Tinubu administration’s tactics noted, “Isn’t it fascinating how the so-called ‘tested’ Tinubu administration’s only policy response seems to be a national prayer led by the First Lady and the NSA? Just a mere 24 hours after I proposed my alternative solutions! What a bold strategy!”
He punctuated this remark with a sardonic tone, using a laughing emoji to underline his skepticism.
The former vice president further argued that the current economic crisis stemmed from what he called the “hasty ascent to power, devoid of a coherent plan,” by Tinubu’s government.
Contrasting this with his own proposed strategies, he asserted that his team had crafted a well-rounded “Recovery Plan” that incorporated feedback from Nigerians to address the nation’s economic woes more effectively.
“It is therefore uncharitable for Tinubu’s team to claim that my proposals remain untested,” Abubakar added.
“What remains unproven is the erratic, trial-and-error nature of the policies so far implemented by this administration, which elucidates our present predicament.”
The outspoken PDP leader also took aim at the administration’s handling of core economic indices, comparing it unfavorably to previous Nigerian administrations, including the Obasanjo, Yar’Adua, and Jonathan eras.
“The average GDP rate under the Obasanjo administration that I served in was 6.59% and peaked at 15% in 2002; 7.98% under the late Yar’Adua administration and 4.8% under Jonathan compared to the dismal 2.8% of the so-called ‘tested’ Tinubu era,” he claimed.
Atiku derisively referred to Tinubu’s policies as “shambolic ‘bolekaja’ economic policy prescriptions.”
The PDP candidate, who remains vocal despite the recent electoral defeat, reaffirmed his stance that the 2023 election was marred by “criminal” actions that he believes denied him victory.
“The citizens who cast their votes in the 2023 presidential election are well aware that I did not lose; rather, we find ourselves in this predicament because the election was criminally stolen from the Nigerian people,” he insisted.
Abubakar went on to caution that Nigeria’s economic path should not involve placing further tax burdens on citizens, highlighting countries like the United Arab Emirates, Qatar, and Monaco as examples of economies bolstered by low taxation policies.
“We cannot hope to tax our way out of the economic quagmire wrought by these misguided experimental policies of a novice administration,” he argued, urging for a shift in the country’s fiscal approach.
This exchange underscores a deepening ideological divide between the two political figures as they offer competing visions for Nigeria’s future amid pressing economic challenges.
Atiku’s latest post read in full below:
“I have taken note of the initial responses highlighting the striking disparity between President Tinubu’s faltering economic policies and the alternatives I have proposed. It is exciting to witness such a vigorous debate on these critical matters, and I sincerely hope that this discourse will ultimately benefit Nigeria and its citizens.
Like many fellow Nigerians, I firmly believe that we find ourselves in this current economic turmoil due to the Tinubu administration’s hasty ascent to power, devoid of a coherent plan.
In stark contrast, my team not only devised a comprehensive Recovery Plan, but also welcomed significant input from Nigerians, ensuring that our approach was inclusive and well-considered.
Isn’t it fascinating how the so-called “tested” Tinubu administration’s only policy response seems to be a national prayer led by the First Lady and the NSA? Just a mere 24 hours after I proposed my alternative solutions! What a bold strategy! 🤣
In my humble interpretation of the scriptures, prayer indeed serves as a noble path to follow. However, the sacred texts also counsel us to engage in diligent labour and hard work.
It is therefore uncharitable for Tinubu’s team to claim that my proposals remain untested. What remains unproven is the erratic, trial-and-error nature of the policies so far implemented by this administration, which elucidates our present predicament.
Let us not forget that under our economic stewardship between 1999-2003, Nigeria soared to the pinnacle of Africa’s economies, while their administration has relegated us to a disheartening fourth position.
The average GDP rate under the Obasanjo administration that I served in was 6.59% and peaked at 15% in 2002; 7.98% under the late Yar’Adua administration and 4.8% under Jonathan compared to the dismal 2.8% of the so-called “tested” Tinubu era. Enough of the pains of the shambolic “bolekaja” economic policy prescriptions!
We cannot hope to tax our way out of the economic quagmire wrought by these misguided experimental policies of a novice administration. Numerous nations, such as the United Arab Emirates, Qatar, and Monaco (an EU territory with a zero-income tax policy), among many others, have emerged as economic powerhouses by fostering growth through lower taxation. Why then are we fixated on inflicting further hardship upon an already struggling populace?
One can only speculate that Tinubu’s government is anchored to a mere Tea-plan, which can only lead to a T-pain.
Furthermore, let me emphasize that the citizens who cast their votes in the 2023 presidential election are well aware that I did not lose; rather, we find ourselves in this predicament because the election was criminally stolen from the Nigerian people.” -AA