Atiku to Tinubu: Cheaper economics is not witchcraft economics

Former Vice-President Atiku Abubakar has criticised President Bola Tinubu’s economic policies, accusing his administration of worsening the cost of living while failing to provide affordable energy, education and transportation for Nigerians.

Atiku’s Senior Special Assistant on Public Communication, Phrank Shaibu, made the allegations in a statement issued on Tuesday, in response to Tinubu’s recent comments on Atiku’s economic proposals.

Shaibu said the major issue confronting Nigerians was not Atiku but the growing difficulty of meeting basic needs, including food, transportation, healthcare and education.

He accused the Federal Government of inconsistency for rejecting Atiku’s proposal to reduce energy costs while promising to introduce cheaper transportation and other relief measures.

“For more than three years, Nigerians have endured punishing transport fares, soaring food prices, crippling energy costs and wages that buy less every month,” Shaibu said.

He argued that Nigerians should not have been made to endure prolonged hardship before the government began considering measures to reduce transportation and other living costs.

According to him, Atiku’s proposed Atiku Economic Recovery Plan (AERP) seeks to reduce the cost of living by lowering energy costs at source rather than relying primarily on palliatives.

Shaibu said the proposal would involve targeted support for Nigerian crude supplied to domestic refineries under a capped and transparently budgeted arrangement, with independent auditing and monitoring to ensure that savings reached consumers.

He argued that lower fuel prices would reduce transportation costs and subsequently bring down the cost of moving agricultural produce and manufactured goods across the country.

Shaibu also criticised Tinubu’s handling of education financing, particularly the reliance on student loans through the Nigerian Education Loan Fund (NELFUND).

He said Atiku believed education should be made affordable rather than leaving students to borrow to cope with rising costs.

“A student loan is not a scholarship. It is a liability,” he said, arguing that government should address the underlying cost of education instead of presenting loans as proof that education had become affordable.

The former Vice President’s aide further challenged the Federal Government to publish details showing how Atiku’s proposed fuel intervention would allegedly affect NELFUND, workers’ salaries and the minimum wage.

He also questioned the government’s claim that the removal of the petrol subsidy had mobilised about N15.8 trillion between June 2023 and December 2025.

Shaibu demanded an explanation of how the savings from subsidy removal had translated into tangible improvements in the lives of ordinary Nigerians.

He equally called for greater transparency over nearly N30 trillion identified across Federation Account revenues, deductions, savings and transfers, as well as about N34 trillion worth of imports approved under Import Duty Exemption Certificates in 2025.

The aide accused the government of preparing temporary relief measures ahead of the 2027 elections, describing such interventions as insufficient to address the structural challenges facing Nigerians.

He said Atiku would continue to engage Nigerians on policies aimed at making basic necessities more affordable.

Shaibu added that while Tinubu might choose not to directly mention Atiku in his public statements, the former Vice President’s camp would continue to respond whenever his proposals were criticised or misrepresented.