November 10, (THEWILL) – The Presidency has dismissed former Vice President Atiku Abubakar’s recent criticism of President Bola Tinubu’s economic policies, describing it as a reflection of a significant misunderstanding of Nigeria’s current economic realities.
Responding on Sunday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, accused the Peoples Democratic Party 2023 presidential candidate of attempting to undermine Tinubu’s administration with “unrealistic economic theories,” while lacking a viable alternative.
Onanuga’s statement, titled “Time For Atiku Abubakar To End His Grand Illusions And Fantasies,” highlighted Atiku’s perceived shortcomings, suggesting that his continued criticism stems from frustration over his electoral loss and envy of
Tinubu’s success in achieving the presidency—a goal he has sought unsuccessfully over multiple election cycles.
“Atiku’s criticisms demonstrate a disconnect from Nigeria’s pressing economic needs. His hypothetical proposal to implement a gradual fuel subsidy removal, similar to policies seen in Malaysia and Indonesia, ignores the urgency of Nigeria’s economic situation. Under Tinubu’s administration, we’ve moved decisively, tackling issues head-on from Day One,” the statement read in part.
It argued that Atiku’s suggestion of a consultative approach, which would involve prolonged town hall meetings, illustrates a lack of urgency.
“Nigeria needs a proactive leader who addresses economic challenges without delay.
“Under President Tinubu, essential reforms have been rolled out, and citizens are beginning to feel their impact,” he said.
The statement questioned Atiku’s economic credibility, especially given his tenure as Vice President under former President Olusegun Obasanjo, a period in which the country saw several privatisation controversies and limited structural economic reforms.
“Nigerians remember the hasty privatisation of key assets under the Obasanjo-Atiku administration. These assets, often sold off to cronies, were stripped and left unproductive,” it said dismissing Atiku’s suggestion to privatise Nigeria’s refineries.
It also pointed out that subsidy removal, a central aspect of Tinubu’s reforms, has freed up substantial resources.
“The estimated N5.4 trillion saved from subsidy removal is being redirected toward infrastructure and social initiatives, creating economic opportunities that will benefit Nigerians in every region,” he added.
Regarding Atiku’s comments on currency management, the statement criticised his proposed managed float exchange system, calling it a “flawed approach.” It claimed the system would foster inefficiencies, which Nigeria can ill afford as it seeks economic stability.
The Presidency called for Atiku to abandon “divisive rhetoric” and to focus on productive contributions to Nigeria’s discourse.
“President Tinubu remains committed to a prosperous Nigeria, focused on critical reforms, including social interventions, infrastructure, and revenue generation strategies that benefit all Nigerians. Atiku should embrace a constructive role rather than indulging in fantasies detached from Nigeria’s needs,” the statement added.
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