Atiku: Tinubu exporting wealth, importing hardship

Former Vice-President Atiku Abubakar claims President Bola Tinubu's economic policies are causing Nigeria to export wealth while importing hardship for its citizens. Speaking through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku highlighted how Nigeria is exporting raw materials, but domestic manufacturers are left with unsold goods due to consumers' inability to afford them.

He emphasized that despite the nation's ports being full of exported goods, Nigerians are struggling financially. Atiku criticized the government for celebrating exports and trade surpluses, while families are cutting meals, businesses are dealing with unsold stock, and manufacturers are struggling to stay afloat. He argued that exporting raw materials without processing them only allows other countries to profit from the real money made from Nigerian resources.

Atiku pointed out that the administration's trade surplus is welcome, but the composition of the traded goods matters. He called for a shift from exporting raw materials like cocoa beans, hides, cotton, and minerals to exporting processed products such as cocoa butter, leather goods, textiles, pharmaceuticals, petrochemicals, and processed foods.

He further criticized the current economic policies for hurting both producers and consumers simultaneously, pointing out the rising costs of fuel, electricity, credit, and transportation, which have made it difficult for consumers to afford basic goods and for manufacturers to produce at a profit. He proposed an $10 billion financing program for young entrepreneurs and startups to support various sectors, including agriculture, manufacturing, processing, logistics, technology, and distribution.

This approach aims to create a more prosperous Nigeria by encouraging value addition and reducing dependency on raw material exports. Atiku's vision is to make Nigeria affordable and competitive for production, ensuring that Nigerians feel the benefits of a $1 trillion economy in their daily lives.