Special Reports

Atiku Knocks Tinubu’s Economic Record, Decries Closure Of 767 Factories

Former Vice President and Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has rejected the Presidency’s defence of President Bola Tinubu’s economic policies, arguing that official claims of economic progress are inconsistent with the realities faced by many Nigerians.

Atiku, in a statement on Monday in Abuja by his Senior Special Assistant on Public Communication, Phrank Shaibu, said the State House devoted considerable attention to attacking opposition critics while failing to address what he described as the central concern of Nigerians: why poverty and economic hardship persist despite government claims of improvement.

According to Atiku, the administration cannot expect Nigerians to overlook the consequences of its economic decisions since 2024 while simultaneously implementing the 2024, 2025 and 2026 budgets.

Quoting a Yoruba proverb, he said: “The one who defecated yesterday may quickly forget, but the person who cleaned up the mess never does.”

He argued that many Nigerians still bear the effects of the administration’s economic policies, saying those experiences cannot be erased by official narratives or favourable statistics.

The former Vice President contended that the Presidency’s defence highlighted what he described as a disconnect between macroeconomic indicators and the living conditions of ordinary citizens.

He said while the government points to GDP growth, debt ratios and other economic indicators as signs of progress, many Nigerians continue to grapple with rising living costs, declining purchasing power and worsening business conditions.

According to him, the reported closure of 767 manufacturing firms, with 335 others operating under severe financial distress, illustrates the challenges confronting the productive sector despite government assurances of economic recovery.

Atiku also cited findings from the International Monetary Fund’s latest Article IV Consultation, noting that while the report acknowledged progress in certain reform areas, it also estimated that 63 per cent of Nigerians live below the national poverty line and that about 27 million people experienced food insecurity in late 2025.

“Governments are not elected to improve spreadsheets; they are elected to improve the lives of their people.

“Nigerians cannot eat GDP. They cannot cook with debt-to-GDP ratios. They cannot pay school fees with statistical projections. The true measure of economic management is whether families are living better today than they were yesterday,” he said.

Atiku maintained that his response would address what he described as the major claims made by the Presidency and argue that official economic indicators do not reflect the everyday experiences of millions of Nigerians.

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