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🇳🇬 Nigeria /Elections & Politics

Atiku again attacks Tinubu reforms over rising cost of living

From The Punch · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Context piece
  • Former Vice President Atiku Abubakar accused President Bola Tinubu’s economic policies of reducing purchasing power and raising fuel, food and transport costs.
  • Atiku cited sharp increases in prices for fertilizer, petrol, cement and the dollar, and said businesses were struggling as customers could no longer pay.
  • He called for targeted support for domestic production and refining, saying Nigerians needed immediate relief rather than appeals for patience.

Atiku Abubakar says President Bola Tinubu’s economic reforms have made daily life unaffordable for Nigerians, accusing the government of pointing to economic figures while households and businesses feel increasing pressure.

The former vice president and African Democratic Congress presidential candidate said the removal of the fuel subsidy had coincided with higher prices for fuel, transport and food. In a statement issued by his senior special assistant on public communication, Phrank Shaibu, Atiku argued that the administration could no longer hide behind headline economic figures.

Tinubu did not inherit this cost-of-living crisis from Nigerians. His policies created and deepened it.

· Atiku AbubakarAtiku blamed the president’s policies for worsening household financial pressure.

He also pointed to reports that a significant share of the short-term assets of some major Nigerian companies had become trapped in unpaid customer bills. Atiku said this showed how shrinking purchasing power was affecting businesses. He illustrated the impact with a frozen-food seller in Kubwa who faces higher transport, electricity and restocking costs while customers buy less or request credit.

Nigerians know the prices they meet every day. Fertiliser has moved from about N9,000 to around N50,000; petrol from about N199 to around N1,400 per litre; cement from roughly N4,000 to around N13,500; and the dollar from around N450 to about N1,400.

· Atiku AbubakarHe cited price increases to support his criticism of the government’s economic policies.

Atiku cited fertilizer rising from about 9,000 naira to around 50,000 naira, petrol from about 199 to around 1,400 naira per litre, cement from roughly 4,000 to around 13,500 naira, and the dollar from around 450 to about 1,400 naira. He said Nigerians had received no reliable electricity, security or N-Power support despite the higher costs.

He advocated a production subsidy to support domestic manufacturing and refining, increase supply, monitor prices and ensure that consumers benefit at the pump. His statement said the Crude Oil Refinery Owners Association of Nigeria’s call for support for domestic refining, along with U.S. President Donald Trump’s intervention to strengthen production and refining in the United States, exposed what Atiku described as the weakness of Tinubu’s opposition to targeted support for Nigerian production.

This is why my production subsidy is about putting money back into people’s pockets.

· Atiku AbubakarHe outlined his proposed response, including support for domestic production and refining.
About this summary

Originally published by The Punch in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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