Atiku faults FG over economy recovery claims

Former Vice President Atiku Abubakar has criticized President Bola Tinubu’s administration for its claims of economic recovery, pointing out worsening living conditions and the decline of Nigeria’s manufacturing sector. The opposition leader accused the government of relying on "propaganda" and macroeconomic statistics that do not reflect the reality faced by ordinary Nigerians.

Atiku highlighted the closure of hundreds of manufacturing firms and the struggles of many others as evidence of a deteriorating economy despite official claims of progress. He cited figures from the Manufacturers Association of Nigeria, stating that 767 companies had shut down while 335 were operating under severe distress, with manufacturers holding about ₦2.14tn worth of unsold goods due to a decline in consumers' purchasing power.

Atiku also blamed the situation on unreliable electricity, higher energy costs, and the exit of multinational companies from local manufacturing. He argued that the economic environment had become hostile to production, investment, and enterprise. Atiku further criticized the administration for celebrating GDP growth, debt ratios, and other macroeconomic indicators while millions of Nigerians faced rising food prices, unemployment, and declining purchasing power.

He questioned why poverty and food insecurity remained widespread despite government reforms. The opposition leader accused the administration of continuing to borrow despite claims of improved government revenues following the removal of petrol subsidies and tax reforms, asking why borrowing remained at record levels if fiscal reforms had strengthened public finances.

Atiku also challenged the administration's references to GDP improvements, insisting that the true measure of economic performance was whether citizens could afford food, healthcare, and education.