Former Vice President of Nigeria, Atiku Abubakar, has launched a scathing critique of the economic strategies implemented by the President Bola Tinubu-led administration, asserting that they have dashed the hopes of Nigerians and exacerbated economic woes.
Atiku, who emerged as the runner-up in the 2023 presidential election, lambasted the economic policies of the Tinubu administration, citing their detrimental effects on small businesses and the exodus of multinational companies from the country.
President Tinubu’s decision to remove petrol subsidy and float the Naira against the Dollar were hailed internationally but have resulted in significant hardships for Nigerians, with petrol prices soaring and the Naira’s value plummeting above N1,000 in the official exchange window.
In a series of tweets on Sunday via his X (formerly Twitter) account, Atiku emphasized the urgent need for President Tinubu to explore alternative solutions to address the worsening economic challenges before the nation plunges deeper into crisis.
Expressing grave concern over the economic trajectory, Atiku criticized Tinubu’s policies for failing to deliver on their promise of renewed hope, instead exacerbating pain and despair among Nigerians. He highlighted the shrinking private sector, the exodus of multinational companies, and the escalating cost of living as indicators of the administration’s failure.
Atiku also scrutinized the administration’s 2024 budget proposal, condemning it for lacking concrete ideas and actions to alleviate the economic downturn. He criticized Tinubu’s handling of the foreign exchange market, labeling the free-floating of the Naira as uninformed, arbitrary, and chaotic.
Furthermore, Atiku denounced Tinubu’s palliatives as inadequate and contemptuous of the plight of the poor, accusing the administration of being lost, bewildered, and overwhelmed by the economic challenges facing the nation.
