Former Vice President Atiku Abubakar has criticised President Bola Tinubu’s economic policies, arguing that the removal of petrol subsidy and other reforms have increased the financial burden on Nigerians.
Atiku made his position known through his Senior Special Assistant on Public Communication, Phrank Shaibu, while responding to Tinubu’s criticism of his proposal to restore fuel subsidy.
Tinubu had described Atiku’s proposal as a sign of poor understanding of economic management after the former vice president said he would reinstate the subsidy if elected president in 2027.
Defending his position, Atiku said he was not advocating a return to the previous subsidy system. He proposed what he described as a temporary and controlled intervention aimed at supporting domestic petroleum production and shielding consumers from severe price increases.
The former vice president argued that the economic situation has changed significantly since subsidy removal in May 2023, with petrol prices, transportation costs and food expenses rising while the naira has lost significant value.
Atiku also questioned the continued appearance of petroleum-related under-recoveries and energy-security costs in government accounts despite the Federal Government’s position that the subsidy regime has ended.
He further criticised the increase in federal allocations to state governments, saying larger government revenues should not be regarded as evidence of economic success when citizens are struggling with reduced purchasing power.
Atiku also called for clarification over about ₦30tn in Federation Account revenues, deductions, savings and transfers, as well as the ₦12.8tn Service-Wide Vote contained in the 2026 budget.
The Federal Government has maintained that subsidy removal was necessary because the scheme had become financially unsustainable. It has also argued that the reform has increased government revenues and provided more funds for states and development projects.
Atiku, however, maintained that economic reforms should ultimately be assessed by their effect on citizens.
He said his proposed petroleum-sector intervention would be targeted, time-bound and focused on increasing domestic production while gradually reducing dependence on subsidy.
The disagreement between Atiku and Tinubu comes as economic policy remains a major issue ahead of the 2027 presidential election.
