Atiku Accuses Tinubu of Economic Distortion

Former Nigerian Vice President and Nigeria — African Democratic Congress presidential candidate Atiku Abubakar publicly accused the administration of President Bola Tinubu of distorting Nigeria's economic realities. In a statement issued on Sunday, Atiku responded to comments by Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, who defended the government's economic reforms. Atiku argued that official statistics mask the true hardship faced by Nigerians, citing figures from the Nigeria — Central Bank of Nigeria showing that federal government debt to the CBN rose from ₦22.99 trillion in May 2025 to ₦40.38 trillion in May 2026, an increase of 77.6%. He claimed the administration merely restructured debt by converting Ways and Means advances into Treasury Bills and bonds, not repaying it. Atiku also disputed claims that subsidy savings improved workers' welfare, noting that the new minimum wage and a 40% peculiar allowance remain unimplemented. He questioned the funding source of the Nigeria — Nigerian Education Loan Fund, pointing to a statement by its CEO that it received ₦50 billion from EFCC-recovered funds, contradicting the government's subsidy savings narrative. Additionally, he blamed the government's borrowing for high interest rates that crowd out private businesses. Atiku concluded that the administration has failed to improve living standards, citing rising food prices, inflation, unemployment, naira depreciation, and deepening poverty.