A statement from the camp of former Vice President Atiku Abubakar has blamed President Bola Tinubu’s policies for recent findings by the World Bank which indicate a sharp rise in poverty levels across the country.
In the statement signed by his media aide, Phrank Shaibu, the former vice president expressed “grave concern” over what he described as worsening economic conditions.
“We note with grave concern the World Bank’s confirmation that… poverty is rising at an alarming rate under the administration of President Bola Ahmed Tinubu,” the statement said.
It added that “with over 60% of Nigerians now living below the poverty line, up from about 40% just a few years ago, this is not reform—it is regression on a monumental scale.”
The statement attributed the development to what it called poorly designed and harshly implemented policies, including the removal of fuel subsidies and the devaluation of the naira.
“This crisis is neither accidental nor unavoidable. It is the direct outcome of poorly conceived and harshly implemented policies… all executed without adequate safeguards for the Nigerian people,” it said.
According to the Atiku camp, the effects of these policies are evident in rising food prices, high inflation, and increasing hardship among citizens.
“The consequences… are visible everywhere: food prices have spiralled out of control, inflation has wiped out incomes, small businesses are collapsing, and millions more Nigerians are being pushed into extreme poverty.”
While the federal government has continued to highlight macroeconomic indicators as signs of progress, the statement argued that citizens are facing a different reality.
“While the Tinubu administration points to abstract macroeconomic indicators, Nigerians are living a far harsher reality—one defined by hunger, uncertainty, and a daily struggle for survival. This is not reform. It is economic shock therapy imposed on a vulnerable population.”
The statement also criticised the government’s response to global economic pressures, saying: “A government that blames others while failing to shield its citizens… only ends up exposing its own incompetence.”
Citing the World Bank, it further noted what it described as a “troubling paradox” of rising poverty amid ongoing reforms.
“A government that presides over a situation where the majority of its people are poor, yet insists that progress is being made, has lost both moral authority and economic direction,” it added.
The statement, however, presented Atiku as offering an alternative approach focused on gradual reforms and social protection.
“He believes that reform must be carefully sequenced, not recklessly imposed; that social protection must be real, targeted, and transparent, not symbolic; and that economic policy must prioritise job creation, food security, and income growth.”
It added that his approach would focus on boosting productivity through support for small businesses, agriculture, and industry, alongside better coordination of fiscal and monetary policies.
“The position is straightforward: economic reform must improve lives, not punish them,” the statement said.
The statement concluded by urging a shift in leadership approach, warning against continued economic hardship.
“Leadership is not about defending failure—it is about correcting it. The evidence is already clear in the lives of Nigerians.
“The choice before the nation is stark: continue on a trajectory of deepening hardship, or embrace leadership that is committed to restoring dignity, stability, and shared prosperity.
“Nigeria deserves better.”
