Former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has criticised President Bola Tinubu’s economic reforms, blaming them for the rising cost of living and declining purchasing power among Nigerians.
Atiku made his position known on Sunday, September 6, 2026, through a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, as the 2027 presidential campaign continues to focus heavily on the state of the Nigerian economy.
The former vice president accused the Tinubu administration of making basic necessities more expensive following the removal of the petrol subsidy and other economic measures. He said Nigerians were dealing with higher prices for fuel, food and transportation while many businesses were also struggling.
Atiku argued that economic figures being presented by the government did not reflect the difficulties faced by ordinary Nigerians. He said families were more concerned about what they could afford in markets and how far their incomes could go.
He also pointed to calls from the Crude Oil Refinery Owners Association of Nigeria for greater support for local refining. Atiku said such proposals showed the need for policies that would encourage domestic production instead of depending heavily on imported petroleum products.
According to the former vice president, the country needs measures that can increase local production, improve supply and reduce prices for consumers. He proposed supporting industries that produce goods locally and refining more crude oil within Nigeria.
Atiku also referred to the difficulties faced by businesses whose customers are unable to settle their bills because of reduced purchasing power. He said the situation could affect the entire supply chain, from traders and suppliers to manufacturers and consumers.
He gave the example of small business owners facing higher transportation, electricity and restocking costs while their customers buy less or request goods on credit. According to him, such pressure could eventually force businesses to reduce their activities or shut down.
The ADC candidate cited increases in the prices of fertiliser, petrol and cement, as well as the rise in the value of the dollar against the naira, as examples of the economic pressure Nigerians have experienced in recent years.
He also questioned the availability of affordable electricity, security and other basic services, arguing that Nigerians had yet to see enough relief despite the economic reforms.
Atiku said his proposed approach would focus on production-based support, local refining and increased supply. He maintained that helping producers and ensuring that consumers benefit from lower production costs would be more useful than asking Nigerians to wait for future gains.
He also criticised what he described as different treatment between support given to large companies and assistance available to ordinary Nigerians. He argued that government incentives should also be directed towards domestic producers and consumers facing rising costs.
Another ADC member and former Edo State governorship aspirant, Kenneth Imasuagbon, also criticised the Federal Government’s economic policies during a meeting with journalists in Benin on Sunday.
Imasuagbon said the reforms had contributed to higher living costs and placed additional pressure on businesses and households. He also expressed concern about the loss of livelihoods as businesses struggle with the current economic environment.
The ADC chieftain proposed reopening Nigeria’s land borders with neighbouring countries to encourage legitimate regional trade. He argued that increased cross-border commerce could improve the movement of goods, strengthen supply chains and create more opportunities for businesses.
Imasuagbon said easier regional trade could also increase competition in the market and help bring down the prices of food and other essential goods. He linked the proposal to Atiku’s broader economic plan.
He further pointed to insecurity in parts of northern Nigeria, which he said had disrupted farming activities and affected food production. In his view, stronger regional trade could help supplement local agricultural output while security challenges are addressed.
Imasuagbon also referred to the reported departure of ride-hailing company Uber from Nigeria after more than a decade of operations. He said the development reflected concerns about the business environment, while also linking difficult economic conditions to unemployment and reduced opportunities for young Nigerians.
The ADC chieftain, who is known for distributing rice to vulnerable Nigerians annually, expressed concern about the growing economic difficulties facing households. He said worsening poverty was putting more people under pressure and called for policies capable of improving living conditions.
The economic debate is expected to remain a major issue in the 2027 presidential election, with Tinubu seeking another term under the All Progressives Congress and Atiku contesting under the African Democratic Congress.
Atiku and the ADC have continued to reject key aspects of Tinubu’s economic reforms, particularly the removal of fuel subsidy, while the APC government maintains that the measures are necessary to improve Nigeria’s economy over time.
As the election approaches, both sides are expected to present competing economic plans as they seek to convince Nigerians about the best path for reducing hardship, creating jobs and improving living standards.