Atiku Faults Economic Claims, Demands Presidency’s Apology to Onaiyekan

Former Vice President Atiku Abubakar has criticized the President Bola Tinubu-led administration over its handling of dissent and management of the national economy, accusing the government of intolerance and relying on statistical manipulation to mask economic hardship.

In statements issued through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku condemned the Presidency’s reaction to recent criticisms by Catholic clerics, specifically demanding an unreserved apology to former Catholic Archbishop of Abuja, Cardinal John Onaiyekan, and the Catholic Church.

Atiku stated that the Presidency resorted to political attacks and intimidation following remarks by the Catholic Bishops’ Conference of Nigeria regarding the state of the nation. He described the Catholic Church as a consistent moral voice in the country and defended Onaiyekan’s post-meeting press statements as an effort to ensure factual public reporting.

The statement further warned that constitutional democracy requires openness to independent voices, arguing that public officers should not attempt to reframe engagements with religious leaders for political advantage.

Addressing the economic trajectory under the current administration, Atiku challenged recent defenses of federal reforms presented by Minister of Finance Taiwo Oyedele. He argued that government claims regarding debt reduction and welfare improvements conflict with public financial records.

Specific points raised include exposure to the Central Bank of Nigeria (CBN) rising from approximately N26.9tn in May 2023 to over N40.38tn, with government borrowing from the apex bank increasing by N17.39tn between May 2025 and May 2026. He characterized the administration’s debt strategy as restructuring rather than actual repayment.

He also disputed claims that subsidy removal proceeds have improved worker compensation, pointing out that components of the new minimum wage package and the 40 percent peculiar allowance remain unfulfilled according to organized labor. Furthermore, Atiku questioned attributing the funding of the Nigerian Education Loan Fund (NELFUND) solely to fuel subsidy savings, citing prior statements by agency officials that initial capital included N50bn in funds recovered by the Economic and Financial Crimes Commission (EFCC).

The statement also criticized the ongoing tightening of monetary policy, arguing that successive increases in the Monetary Policy Rate have elevated borrowing costs for private enterprise and worsened public debt servicing obligations.

Atiku concluded that official macroeconomic statistics fail to reflect the daily economic pressures faced by citizens, highlighting persistent inflation, currency depreciation, high food prices, and declining purchasing power. While the Federal Government maintains that its structural reforms are essential for long-term fiscal stability and foreign investment, critics continue to call for immediate policy adjustments to alleviate the rising cost of living across the country.