Abuja, Nigeria – The State House has released a pointed statement urging former Vice President Atiku Abubakar to cease what it describes as “grand illusions and fantasies” regarding Nigeria’s economic and political landscape under President Bola Ahmed Tinubu.
In the press release, Bayo Onanuga, Special Adviser to the President on Information and Strategy, accused Atiku of harbouring envy and refusing to come to terms with his electoral loss in the 2023 Presidential Election.
According to the statement, Atiku’s critiques of Tinubu’s administration have focused on economic and social policy issues, yet lack a realistic foundation.
It further states that Atiku’s recent proposal, “What We Would Have Done Differently,” disregards Tinubu’s multi-faceted reform programmes, which have been implemented with urgency to address long-standing issues within the economy.
Economic Reforms and Subsidy Savings
The release highlights Tinubu’s fuel subsidy removal as a key victory, noting that it was a major enabler of corruption within the Nigerian National Petroleum Corporation (NNPC).
The government reports that N5.4 trillion in savings will be reallocated to infrastructure and social intervention programmes in 2024, an effort intended to benefit Nigerians nationwide.
The administration also claims progress on state revenue generation, mentioning that Federal Inland Revenue Service collections nearly doubled in the first half of 2024.
The press statement underscores that instead of outrightly privatising Nigeria’s four government-owned refineries, Tinubu’s administration is rehabilitating them in partnership with private sector managers, a model they argue will deliver more stable and practical outcomes than Atiku’s past privatisation agenda.
Criticism of Atiku’s Economic Vision
The State House critiques Atiku’s stance on subsidy removal, phased reforms, and foreign exchange management as inadequate. It argues that his proposal to maintain a “managed float” exchange rate would introduce inefficiencies and strain the Central Bank’s ability to stabilise the currency, potentially mirroring the failures of past fixed exchange rate systems.
Furthermore, the statement accuses Atiku of hypocrisy, pointing to alleged past corruption cases involving his business associates.
In response to Atiku’s foreign policy suggestions, the press statement emphasises that the Tinubu administration has already enacted measures to protect the most vulnerable, with initiatives including cash transfers, student loans, and the Presidential Compressed Natural Gas (CNG) Initiative.
Closing Remarks
The statement concludes by urging Atiku to focus on constructive dialogue rather than what it describes as the “politics of distraction.” It insists that President Tinubu is committed to addressing Nigeria’s pressing economic challenges and leading the nation toward prosperity.
This marked escalation in rhetoric between the presidency and the former vice president underscores a deepening divide within Nigerian politics, with each side accusing the other of undermining progress in one of Africa’s largest economies.
