By Our Correspondent
A former Vice-President, Atiku Abubakar, has faulted the economic policies of President Bola Ahmed Tinubu, following a reported surge in poverty levels across the country.
In a statement issued on Friday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku expressed concern over what he described as worsening economic hardship under the current administration.
Citing recent findings by the World Bank, the former presidential candidate noted that over 60 per cent of Nigerians are now living below the poverty line, compared to about 40 per cent in previous years.
He described the development as a “monumental regression,” arguing that the situation reflects the adverse impact of government policies, including the removal of fuel subsidies and the devaluation of the naira.
According to him, the policies were poorly implemented without adequate social protection measures, thereby triggering rising inflation, surging food prices, and widespread business failures.
The statement read in part, “This crisis is neither accidental nor unavoidable. It is the direct outcome of poorly conceived and harshly implemented policies. Millions of Nigerians are being pushed into extreme poverty as a result.”
Atiku further criticised the Federal Government for what he termed an overreliance on macroeconomic indicators, insisting that such data fails to reflect the “harsh reality” faced by ordinary citizens.
He added that the situation had exposed a disconnect between government policies and the lived experiences of Nigerians, many of whom, he said, are grappling with hunger and economic uncertainty.
The former Vice-President also accused the administration of failing to adequately shield citizens from global economic shocks, noting that the rising poverty rate undermines claims of economic progress.
Offering an alternative approach, Atiku called for reforms that are “carefully sequenced” and supported by transparent and targeted social protection programmes.
He emphasised the need to prioritise job creation, food security, and income growth, while advocating stronger support for small businesses, agriculture, and industrial development.
“The approach must focus on rebuilding productivity and restoring confidence through coordinated fiscal and monetary policies,” the statement added.
Atiku maintained that economic reforms should translate into improved living standards, warning that policies that deepen hardship risk eroding public trust.
He said, “Economic reform must improve lives, not punish them. Leadership is about correcting failure, not defending it.”
The statement concluded with a call for a shift in governance direction, stressing that Nigeria must choose between continued hardship and a path towards economic stability and shared prosperity.
