Former Vice President and presidential candidate of the African Democratic Congress, Atiku Abubakar, has accused President Bola Tinubu of making life unaffordable for Nigerians through economic policies that have eroded purchasing power, increased the cost of fuel, food and transportation, and weakened businesses.
Atiku, in a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, on Sunday, said the President could no longer hide behind economic figures when Nigerians were experiencing the painful consequences of his policies.
He accused the Tinubu administration of removing the fuel subsidy while presiding over rising fuel, transport 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.”
Atiku said Nigerians were facing higher fuel, food and transport costs, weaker businesses and shrinking incomes under Tinubu’s economic policies, stressing that they needed immediate relief, not more appeals for patience.
The statement added, “Nigerians know the prices they meet every day. Fertiliser has moved from about N9,000 to around N50,000; petrol from about N199 to around N1,400 per litre; 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 declared that Nigerians deserved an economy where increased local production would lower costs and leave families with more money to live.
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.
