Former Vice President Atiku Abubakar has harshly criticized President Bola Tinubu’s economic policies, stating they have negatively impacted all Nigerians, including the poor, the wealthy, and foreign investors. Atiku, who ran as the presidential candidate for the Peoples Democratic Party in the 2023 elections, claimed that Tinubu’s strategies have only served to “pauperize the poor and bankrupt the rich.”
Atiku expressed these concerns in a statement assessing Tinubu’s first year in office. He condemned the president’s policies, asserting that they have failed to generate prosperity and instead created a hostile environment for businesses.
“President Tinubu’s policies do not create prosperity. Instead, they pauperize the poor and bankrupt the rich. They spare no one. Nigerian citizens, the majority of whom are poor, are going through the worst cost-of-living crisis since the infamous structural adjustment programme of the 1980s,” Atiku stated.
He pointed out the alarming economic indicators, noting that the annual inflation rate has skyrocketed to 33.69%, the highest in nearly three decades. Moreover, food inflation reached 40.53% in April, marking the highest in more than 15 years, making essential goods unaffordable for ordinary citizens.
Atiku further criticized the negative impact on businesses, highlighting how Tinubu’s policies have overburdened the private sector. “President Tinubu’s policies create a hostile environment for businesses, big or small. The private sector is overwhelmed by Tinubu’s dismal policies and overburdened by his failure to address the policy fallouts,” he said.
He elaborated on the struggles faced by the manufacturing sector, which he described as crucial for job creation, higher incomes, and economic growth. According to Atiku, the sector is currently hindered by rising input prices, higher energy and borrowing costs, and complex exchange rates.
The former Vice President’s critique comes as the nation grapples with significant economic challenges, stirring debates about the effectiveness of Tinubu’s administration in managing Nigeria’s economic policies and future prospects.
SOURCE : DAILY TRUST
