Former Vice President Atiku Abubakar has renewed his criticism of President Bola Tinubu’s administration, accusing it of exporting Nigeria’s wealth while Nigerians bear the burden of worsening economic hardship. His latest remarks come as political parties intensify preparations for the 2027 presidential election.
Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has accused President Bola Tinubu’s administration of exporting Nigeria’s wealth while importing hardship into the country.
Atiku’s latest criticism comes as the 2027 presidential election draws closer, with the former vice president positioning his campaign around economic reforms, domestic production and policies he says would reduce the burden on Nigerians.
The former vice president has repeatedly faulted the Tinubu administration’s economic policies, particularly the removal of petrol subsidy and foreign exchange reforms, arguing that the measures have increased the cost of living and placed additional pressure on households and businesses.
Atiku has maintained that Nigeria cannot achieve sustainable prosperity by relying heavily on imports while domestic industries struggle. In previous remarks, he argued that the country must produce what it consumes, manufacture what it uses and export finished products rather than raw materials.
He has also criticised what he described as government policies that encourage importation at the expense of local production and industrialisation. According to Atiku, the consequence is a cycle in which Nigerian jobs and economic value are lost while citizens face rising prices and declining purchasing power.
The ADC candidate has previously cited rising food inflation and the heavy cost of imported raw materials as evidence of the pressure confronting the productive sector. He said Nigerian manufacturers spent about N3.53 trillion importing raw materials within six months, arguing that the situation showed the need for stronger investment in local production and value addition.
Atiku has also alleged that businesses are facing severe operating challenges under the current administration. In August, he claimed that 767 factories had shut down while another 335 were operating under severe distress, attributing the situation to high energy costs, multiple taxes, logistics expenses, electricity tariffs and weak consumer demand.
The former vice president’s criticism is part of the widening political contest ahead of the 2027 election, where he is challenging Tinubu’s bid for a second term.
Tinubu and his supporters, however, have defended the administration’s economic reforms, arguing that the removal of petrol subsidy and foreign exchange reforms were necessary to correct longstanding distortions and put the economy on a more sustainable path. The Presidency has also pointed to improvements in revenue mobilisation, foreign reserves, domestic refining and other areas as evidence that the reforms are beginning to strengthen the economy.
The economic debate is expected to remain central to the 2027 presidential campaign as Nigerians weigh the immediate hardship associated with the reforms against the government’s argument that the measures are designed to deliver long-term economic stability.
For Atiku, the priority should be a production-driven economy capable of creating jobs, strengthening the naira, reducing import dependence and ensuring that Nigeria derives greater value from its own resources.
The 2027 contest is therefore shaping up not only as a battle for political power but also as a referendum on the economic direction of the country and which approach can best address the hardship confronting millions of Nigerians.