Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has accused President Bola Tinubu’s administration of using positive economic figures to hide the hardship Nigerians face. He said the country’s biggest problem is not borrowing but wasteful spending and poor management of public funds.
In a statement released on Monday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said the Presidency’s defence of Tinubu’s economic policies failed to address the daily struggles of ordinary Nigerians.
He said borrowing is common across the world, but what matters is whether the money improves infrastructure, creates jobs, strengthens public services and raises living standards.
“No serious economist argues that borrowing is inherently wrong. Nations borrow. The real question is this: what has Nigeria obtained in return for the unprecedented debts accumulated under this administration?” Atiku said.
He said Nigerians still face poor electricity supply, rising insecurity, unemployment, weak purchasing power and a deep cost-of-living crisis despite government claims of stronger revenues and better debt management.
Questioning the government’s borrowing, he asked, “If revenue has improved so dramatically; if subsidy has been removed; if tax collection has increased; and if debt servicing has supposedly become more manageable, why does this administration continue to borrow at record levels?”
Atiku said GDP growth alone does not show the true state of the economy, insisting reforms should improve household welfare. Citing IMF findings, he said 63 per cent of Nigerians now live below the poverty line while about 27 million people faced food insecurity in late 2025.
“Governments are not elected to improve spreadsheets. They are elected to improve the lives of their people,” he said, adding that Nigerians “cannot eat GDP” or pay school fees with macroeconomic statistics.
