Atiku accuses Tinubu of worsening cost-of-living crisis 

Former Vice-President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has accused President Bola Tinubu’s administration of worsening the cost-of-living crisis and eroding Nigerians’ purchasing power through its economic policies.

Atiku, in a statement issued on Sunday by his Senior Special Assistant on Public Communication, Phrank Shaibu, said Nigerians were being forced to pay more for fuel, food, transportation and other basic necessities while household incomes continued to shrink.

He said the government could no longer rely on economic statistics announced in Abuja to convince Nigerians that the economy was improving when citizens were experiencing rising costs and declining purchasing power.

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According to him, the removal of fuel subsidy under Tinubu has contributed to soaring petrol, transport and food prices, while businesses are struggling to remain afloat.

Atiku also criticised the administration’s opposition to his proposed Production Subsidy, which he said was designed to support domestic production, increase supply and ultimately reduce prices for consumers.

“Tinubu did not inherit this cost-of-living crisis from Nigerians. His policies created and deepened it. He took away relief from the people, made fuel, food, transport and basic survival more expensive, and now wants Nigerians to applaud statistics while their pockets are empty,” he said.

The former vice-president argued that the impact of the economic crisis was also being felt by businesses, saying declining consumer purchasing power was making it increasingly difficult for companies to collect payments from customers.

He illustrated the situation with the example of a frozen-food seller in Kubwa, Abuja, who, according to him, now spends more on transportation, electricity and restocking while customers have less money to spend.

“Soon she cannot restock, her supplier is owed, and Tinubu’s economic pain spreads through the entire chain,” Atiku said.

He listed the rising prices of fertiliser, petrol and cement, as well as the depreciation of the naira, as evidence of the pressure faced by Nigerians under the current administration.

“Nigerians know the prices they meet every day. Fertiliser has moved from about ₦9,000 to around ₦50,000; petrol from about ₦199 to around ₦1,400 per litre; cement from roughly ₦4,000 to around ₦13,500; and the dollar from around ₦450 to about ₦1,400,” he said.

Atiku questioned what he described as the limited benefits of the government’s economic reforms for ordinary Nigerians.

“And after all this pain, what has the ordinary Nigerian received? No reliable electricity. Loan for a degree. No security. No N-Power. Food is expensive. Transport is expensive. Life itself has become expensive. What exactly are Tinubu’s defenders defending?” he asked.

He said his proposed Production Subsidy was intended to ensure that government intervention directly benefited consumers by supporting local production and refining.

“This is why my Production Subsidy is about putting money back into people’s pockets. Support what we produce and refine here, increase supply, monitor the price and make sure Nigerians feel the benefit at the pump,” he said.

Atiku also cited calls by the Crude Oil Refinery Owners Association of Nigeria (CORAN) for greater support for domestic refining, as well as United States President Donald Trump’s support for domestic petroleum production and refining, arguing that targeted intervention in strategic industries was not inherently bad economics.

He accused the Tinubu administration of applying a double standard by opposing intervention aimed at reducing hardship for ordinary Nigerians while granting waivers, incentives and concessions to businesses and multinational oil companies.

“So why does intervention suddenly become bad economics when ordinary Nigerians are meant to benefit?” he asked.

According to Atiku, Nigerians are more concerned about the cost of living than government economic statistics.

“Nigerians have now seen what Tinubu’s economics means in their daily lives: higher fuel prices, higher food prices, higher transport costs, weaker businesses and emptier pockets. They do not need another lecture on patience. They need relief,” he said.

He said the 2027 election would present Nigerians with a choice between continuing with what he described as an economy that takes more from citizens and building an economy that puts money back into their pockets.

“The choice before Nigeria is therefore clear: continue with an economy that takes more from the people, or build one that puts money back in their pockets. Support production. Refine in Nigeria. Create Nigerian jobs. Lower the cost of living,” Atiku said.

He urged Nigerians to reject policies that, in his view, had made life increasingly difficult and support a programme focused on lowering living costs and expanding domestic production.

“Nigeria must produce more, Nigerians must pay less, and families must have money left to live,” he said.

He concluded with the slogan: “Tinubu made life expensive. Atiku will make life affordable again.”