Former Vice President of Nigeria and prominent figure in the African Democratic Congress, Atiku Abubakar, has launched a scathing critique of the current administration’s economic management, describing the prevailing conditions in the country as “organised hardship disguised as reform.”
In a statement issued on Sunday through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku reacted to a recent warning by the International Monetary Fund, asserting that the multilateral institution had merely validated the lived experiences of millions of Nigerians grappling with worsening economic realities.
According to Atiku, the hardship confronting Nigerians is neither incidental nor unexpected but rather the direct consequence of policy inconsistency, weak leadership, and what he described as a disconnect between government officials and the everyday struggles of citizens.
“At a time when Nigerians were promised renewed hope, what they have received is renewed hardship—raw, relentless, and unforgiving,” he stated. “The IMF is not breaking new ground; it is simply confirming what Nigerians already endure daily—a national emergency that the government appears unwilling to acknowledge.”
He argued that while government officials continue to frame economic developments using technical language and macroeconomic indicators, the situation on the ground tells a different story. For many households, he said, income has been severely eroded, purchasing power has declined sharply, and basic goods have become increasingly unaffordable.
Atiku highlighted the widening gap between official narratives and lived realities, noting that despite fluctuations in global oil prices, which traditionally influence Nigeria’s fiscal outlook, the average citizen has seen little to no relief. Instead, he said, the cost of living has continued to rise, driven by inflationary pressures, high transportation costs, and a volatile exchange rate.
“The reality is stark,” he said. “The naira continues to depreciate, food prices are soaring, and transportation costs have reached levels that are unsustainable for ordinary Nigerians. These are not abstract statistics—they are daily struggles.”
He further painted a grim picture of conditions at the grassroots level, where he said the impact of economic policies is most acutely felt. According to him, families are increasingly unable to afford basic necessities, with some parents reportedly withdrawing their children from school due to rising education costs.
“In many communities, survival has become a full-time occupation,” he noted. “Parents are pulling children out of school because education is no longer affordable. Farmers are abandoning their lands due to insecurity, and young graduates roam the streets without opportunities.”
The former vice president also drew attention to the plight of small and medium-scale enterprises, which he described as the backbone of the Nigerian economy. He said many businesses are struggling to stay afloat under the combined pressure of high electricity tariffs, multiple taxation, and an unfavourable business environment.
“Small businesses are collapsing like a pack of cards,” he said. “They are suffocated by rising costs and a policy environment that offers little support. When small businesses fail, the ripple effects are felt across the entire economy.”
Atiku warned that the situation extends beyond economic hardship to what he described as a broader erosion of human dignity. He argued that government policies have placed disproportionate burdens on citizens without corresponding measures to cushion the impact.
“This administration has turned sacrifice into a one-way street,” he said. “The people are asked to endure pain while the government offers lectures instead of solutions. You cannot ask a hungry population to be patient while policies continue to choke their livelihoods.”
He also expressed concern about Nigeria’s growing debt profile, warning that the country risks mortgaging its future in an attempt to manage present challenges. According to him, borrowing has increased significantly without visible improvements in infrastructure, job creation, or social welfare.
“We are borrowing as though there is no tomorrow, yet there is little to show for it today,” he said. “No meaningful job creation, no relief for struggling households, just mounting debt and increasing hardship.”
Atiku criticised what he described as an overreliance on theoretical economic frameworks that fail to address the immediate needs of the population. He emphasised that governance should be measured not by policy intentions but by tangible outcomes in the lives of citizens.
“Governance is not an academic exercise,” he said. “It is about whether families can afford to eat, whether transportation is accessible, whether traders can restock their goods, and whether young people can envision a future. Today, these basic indicators of well-being are in decline.”
In light of these concerns, the former vice president called for urgent and decisive action. He urged the government to abandon what he termed “trial-and-error economics” and adopt practical, people-centred policies aimed at stabilising the economy.
Such measures, he suggested, should include interventions to control inflation, support small businesses, reduce transportation costs, and provide targeted assistance to vulnerable populations.
“This is not the time for rhetoric,” he said. “It is the time for action. Leadership must come down from its pedestal and engage directly with the realities faced by Nigerians.”
He concluded by framing the issue as a fundamental test of leadership, arguing that the effectiveness of any administration should be judged by its impact on citizens’ quality of life.
“The true measure of leadership is simple,” Atiku stated. “Are the people better off or worse off? Today, the answer is clear—Nigerians are worse off, and no amount of political messaging can conceal that reality.”
His remarks add to the growing national debate over economic policy direction and governance, as stakeholders across political and economic spheres continue to assess the trajectory of the country’s recovery efforts.
