By Damilare Adeleye
The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has criticised the economic policies of President Bola Ahmed Tinubu’s administration, alleging that the government had accumulated about $30 billion in external loans within three years while Nigerians continue to grapple with severe economic hardship.
Atiku stated this on Wednesday, shortly after emerging as the ADC’s presidential flag-bearer ahead of the 2027 general elections.
He accused the ruling All Progressives Congress (APC)-led government of failing Nigerians economically, saying that the hardship being experienced across the country reflects what he described as the government’s inability to translate economic growth into improved living conditions for citizens.
“This APC government has failed woefully on the economy. The poverty gripping our people is at a level that we have never before seen in our history.”
“The government brandishes statistics claiming that the economy is growing. But what has really been growing is the ill-gotten wealth of a few in and around the corridors of power while our people have extreme difficulty finding food to eat, paying for transport, medical treatment or their children’s school fees,” Atiku said.
The former vice president further promised that an ADC government would pursue policies aimed at building an inclusive economy driven by investment, industrialisation and job creation.
He identified the country’s energy crisis as a major obstacle to economic growth, promising that his administration would tackle bottlenecks limiting investments in critical sectors.
“We commit to building an economy that benefits all Nigerians. Building an economy that works for Nigerians can only gather momentum when we address our utterly embarrassing and economy-destroying energy crisis.”
“The provision of electricity is a minimum requirement for industrialization, be it in the factory or in the farm, for big business and for small enterprises,” he said.
Atiku also criticised the federal government’s handling of fuel subsidy removal, insisting that Nigerians had yet to see the benefits promised by the policy.
“The government promised improved welfare for our people with the removal of fuel subsidy. Needless to say, the savings from subsidy removal has not been accounted for and the economic hardship resulting from the action has been unbearable,” he stated.
He further alleged that borrowing had become the cornerstone of the Tinubu administration’s economic policy.
“External borrowing alone has reached 30 billion dollars in the last three years. Furthermore, the massive amounts being borrowed are given away in contracts to friends and cronies of those in government without competitive bidding and with no pretensions of due process.”
“The future of our younger generation is being mortgaged with no accountability. That has to change and will change under an ADC government,”
Atiku alleged.
On healthcare, the ADC candidate expressed concern over what he described as poor funding of the health sector, citing reports that the Federal Ministry of Health received only N30 million for capital expenditure in the previous fiscal year.
He promised that an ADC administration would prioritise preventive healthcare, invest massively in primary healthcare centres and strengthen specialist medical facilities across the country.
“In addition, we shall properly equip and staff our medical centres of excellence to ensure that our people receive the best specialist care here in Nigeria rather than travel abroad for it,” he said.
Atiku also pledged reforms in the education sector, Miocene lamenting that over 20 million school-age children remain out of school under the APC administration.
“Under the watch of this APC government over 20 million of our school-age children are not in school. This cannot be tolerated in the modern world where education is the surest path to decent employment, wealth creation, national development and an enlightened citizenry,” he said.
The former vice president vowed that an ADC government would implement free and compulsory primary and secondary education, while also investing in entrepreneurial, technological and innovation-driven skills for young Nigerians.
He added that his administration would focus on improving school infrastructure, staffing and teachers’ welfare as part of efforts to revive the country’s education sector.