Nigeria’s debt profile rises by N7.44tn in 3 months, hits N166.8tn

In 2027, former presidential candidate Atiku Abubakar of the African Democratic Congress, ADC, has criticized President Bola Tinubu's economic policies, arguing they are ineffective. Atiku highlighted the struggles of Nigerians to cope with the increasing cost of living. He stated that individuals could no longer feed their children with government revenue updates and that workers were unable to afford transport fares due to these economic challenges.

Atiku referenced assessments from international institutions. He recalled that in June 2026, the International Monetary Fund, IMF, acknowledged that Nigeria's reforms had improved macroeconomic outcomes, but also noted that conditions remained difficult for many people. The poverty rate was estimated at 63 percent under the national poverty line, and 27 million Nigerians faced food insecurity by the end of 2025. The IMF warned that higher fuel, food, and transport costs could worsen these issues.

Recent fuel price pressures exacerbated the financial strain on households. In Lagos and Abuja, petrol was selling at around N1,400 per litre in September, while it exceeded N1,500 in northern Nigeria. Diesel prices exceeded N2,000 per litre. Atiku argued that economic reform cannot only burden the poor while leaving the well-off increasingly comfortable. He questioned who was benefiting from the economic gains promised by Tinubu.

Atiku emphasized that Nigerians are not measuring progress through GDP figures, FAAC allocations, or PowerPoint presentations. He stressed that the tangible benefits of economic reform must reach people’s dinner tables.