Former Vice President Atiku Abubakar has criticised the administration of President Bola Ahmed Tinubu over what he described as the “reckless glorification” of borrowing amid worsening economic hardship and insecurity across Nigeria.
Atiku, in a statement issued on Thursday through his Senior Special Assistant on Public Communication, Phrank Shaibu, said the Presidency’s recent defence of Nigeria’s debt profile reflected a dangerous disconnect from the realities facing ordinary citizens.
The former Vice President was reacting to comments from the Presidency suggesting that Nigeria’s debt level remains lower than that of some African countries.
According to Atiku, no responsible government measures economic progress by the volume of debt it acquires, but by the impact of its policies on the welfare of citizens.
He said millions of Nigerians are currently battling hunger, inflation, insecurity, and economic uncertainty, while the government continues to focus on “statistical justifications” instead of practical solutions.
“At a time when millions of Nigerians can barely afford one meal a day, businesses are collapsing, and insecurity continues to spread, it is both astonishing and insulting for the government to celebrate debt figures as though indebtedness itself were an achievement,” the statement read.
The Waziri Adamawa argued that borrowing is not inherently wrong if tied to productive investments capable of improving infrastructure, creating jobs, strengthening security, and boosting economic growth.
However, he maintained that under the Tinubu administration, increasing debt has failed to translate into tangible improvements in the lives of citizens.
Atiku lamented the worsening security situation across the country, noting that many farmers can no longer access their farmlands due to persistent attacks by bandits and terrorists.
According to him, the resulting decline in food production has contributed significantly to rising food prices, hunger, and widespread hardship.
He further stated that insecurity has become so severe that many Nigerians now budget for ransom payments in the same way they budget for rent and school fees.
“In many parts of Nigeria today, travelling by road has become a gamble with death. Families now live in constant fear of kidnappings and violent attacks,” he said.
The former Vice President also accused the Tinubu administration of relying on propaganda to divert attention from what he described as economic mismanagement and governance failures.
He recalled that the administration of former President Olusegun Obasanjo, in which he served as Vice President, implemented reforms that helped Nigeria secure debt relief from the Paris Club and restored international confidence in the country’s economy.
Atiku described it as “tragic” that the current administration inherited what he called a manageable economy but has allegedly plunged the country deeper into debt, poverty, and insecurity within a short period.
He stressed that Nigerians are more concerned about affordable food, safety, business survival, and economic stability than comparisons with other African countries.
The opposition leader urged the Federal Government to abandon propaganda and confront the country’s economic and security challenges with sincerity, urgency, competence, and compassion.
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