Atiku Abubakar recently voiced his concerns about President Bola Tinubu’s economic strategies, asserting that they are shattering hopes, inflicting pain, and instigating despair among Nigerians. In a statement released on Sunday, Atiku criticized what he deemed as Tinubu’s inadequate response to the nation’s challenges, predicting a prolonged and more profound economic crisis.
The economic difficulties stemmed from Tinubu’s decision to eliminate fuel subsidies during his inauguration. Tinubu defended this move by stating that the funds were being diverted into the pockets of a select group, making it unsustainable for the country.
Atiku’s statement highlighted the intense discussions among Nigerians regarding the nation’s economic performance. He criticized Tinubu’s economic policies, derived from a so-called renewed hope agenda, for ironically diminishing hopes, causing pain, and fostering despair. Atiku pointed out the shrinking private sector, the emasculation of small businesses, and the departure of multinational companies due to economic uncertainty.
The soaring cost of living, exemplified by essential commodities like bread becoming unaffordable for the average Nigerian, has exacerbated the misery for the poor in both urban and rural areas.
Atiku also criticized Tinubu’s 2024 budget, describing it as a business-as-usual exercise lacking concrete ideas and actions to support economic transformation. He argued that the budget, dominated by wasteful expenditures for a bloated federal government, wouldn’t stimulate growth or empower citizens.
Atiku accused Tinubu of displaying no capacity to address the adverse effects of the new subsidy regime and the free-floating exchange rate policy. He characterized Tinubu’s initiatives as uninformed, arbitrary, and chaotic, with palliatives deemed inadequate and contemptuous of the poor.
Concluding his statement, Atiku urged Tinubu and his economic management team to acknowledge their missteps, swallow their pride, and seek guidance from those well-versed in navigating economic challenges.
