ABUJA, Nigeria — Former Vice President Atiku Abubakar has intensified his attack on President Bola Tinubu’s economic policies, accusing the government of weakening household purchasing power while offering incentives to large corporations and oil companies. Atiku, the African Democratic Congress presidential candidate, said a future administration under him would support domestic production and refining to lower energy costs and ease pressure on Nigerian families.
Atiku said Tinubu’s policies had driven up the cost of fuel, food and transportation while leaving many households with less disposable income. “Tinubu did not inherit this cost-of-living crisis from Nigerians. His policies created and deepened it,” Atiku said in a statement issued through his spokesperson, Phrank Shaibu. He argued that positive economic statistics mean little if ordinary people continue struggling to pay for basic necessities.
The former vice president has proposed what he calls a “production subsidy,” saying government support should be directed toward Nigerian producers and refiners to increase supply and reduce consumer prices rather than restoring the previous fuel-import subsidy system. Atiku has also promised to reopen and facilitate trade across Nigeria’s land borders, an idea backed by ADC politician Kenneth Imansuagbon, who said increased regional commerce could help lower prices and create business opportunities.
Tinubu began some of Nigeria’s most sweeping economic changes in decades after taking office in May 2023, immediately ending a costly petrol subsidy and later supporting moves toward a more market-driven exchange rate. The measures were intended to reduce government spending, improve public finances and attract investment, but the resulting rise in fuel prices and weakening of the naira contributed to a severe cost-of-living squeeze. Atiku himself supported ending the petrol subsidy during the 2023 election campaign but now says the way the policy was implemented caused excessive hardship and that targeted assistance should be restored.
Tinubu’s government rejects Atiku’s broader criticism of its economic management. Presidential adviser Bayo Onanuga said in August that the opposition leader was relying on outdated figures and overlooking improvements recorded since 2025. The administration argues that subsidy removal and other reforms were necessary to correct years of expensive government interventions and economic distortions. Finance Minister Taiwo Oyedele has also said Nigeria needed to abandon what he described as unsustainable fiscal practices if the economy was to recover.
There are signs of improvement in some economic indicators. Nigeria’s gross domestic product grew 4.43% year-on-year in the second quarter of 2026, up from 3.89% in the previous quarter, according to the National Bureau of Statistics, with both oil and non-oil sectors expanding. Investor sentiment has also strengthened, but the gains have yet to translate evenly into household living standards. Reuters reported that many Nigerians remain squeezed by expensive food, fuel, electricity and borrowing costs, highlighting the divide between improving financial indicators and everyday economic conditions.
The dispute is becoming a central issue ahead of Nigeria’s 2027 presidential election, when Tinubu is expected to seek a second term and Atiku is again challenging for the presidency. The economic debate also carries significance beyond Nigeria: Africa’s most populous country is a major oil producer, a key West African trading power and an important destination for international investment. Whether Tinubu can convince voters that painful reforms are producing lasting benefits or Atiku can persuade them that a different approach would deliver faster relief is likely to shape one of Africa’s most closely watched elections
