Former Vice-President and African Democratic Congress (ADC) presidential candidate Atiku Abubakar has accused President Bola Tinubu’s administration of making life and business more costly for Nigerians.
Atiku, through his Senior Special Assistant on Public Communication, Phrank Shaibu, said Nigeria was exporting raw materials while doing little to add value to them locally. He said this was happening as families and manufacturers faced rising costs and weaker purchasing power.
He said raw-material exports jumped by 106 per cent, from N1.86 trillion in the first half of 2025 to N3.84 trillion in the first half of 2026.
“There is nothing wrong with exporting. The problem is exporting the cheapest part of the value chain and buying back the expensive part,” he said, calling for cocoa, hides, cotton and minerals to be processed locally before export.
Atiku also pointed to about N2.14 trillion in unsold manufactured goods, saying the figure showed that consumers had less money while production costs kept rising.
“Fuel is more expensive. Electricity is more expensive. Credit is expensive. Transportation costs have risen. The naira is weaker. Manufacturers pay more to produce, and families have less money to buy,” he said.
“That is why factory shelves are full while kitchen cupboards are empty.”
He proposed cheaper long-term financing, industrial clusters, agro-processing, mineral beneficiation and support for local value addition.
Atiku also called for a production-linked fuel subsidy for petroleum products refined in Nigeria and a $10 billion funding programme for young entrepreneurs and start-ups.
He said his plan would boost local production, create jobs, strengthen the naira and reduce the cost of doing business.
“Tinubu made Nigeria expensive. Atiku will make Nigeria affordable again,” he said.
