Atiku Abubakar, the presidential candidate of the African Democratic Congress (ADC), has called President Bola Tinubu’s administration one of the worst that Nigeria has ever had.
According to Atiku, the government eliminated the fuel subsidy, hailed the increase in public revenue, made daily living extremely costly, and continued to borrow money with an incredible appetite.
He revealed this in a statement that was signed by Phrank Shaibu, the ADC Presidential Campaign Council’s Director of Strategic Communications.
Atiku claims that Nigerians are left with increased food, transport and energy bills, stretched public services and a public debt of N166.79 trillion as of June 30, 2026, according to the Debt Management Office, following more than three years of expected sacrifices.
“A government that claims more money is coming in must explain why it keeps borrowing and why the people paying for its policies cannot see the promised gains,” he stated.
In March 2023, Nigeria’s public debt was N49.85 trillion; by June 2026, it was N166.79 trillion.
“I anticipate that President Tinubu will present Nigerians with the complete story.” He should list any newly recorded old debt, foreign debt whose naira worth increased due to fluctuations in exchange rates, and all new loans made since taking office.
“He ought to display what has been paid back and what is still due. Accounting justifications shouldn’t be used as a cover for new borrowing.
The debt issue, according to Atiku, is inextricably linked to what he called the growing disparity between official claims of economic recovery and the everyday experiences of Nigerians.
“The Tinubu economy is producing two Nigerias,” he continued, “one in which the average Nigerian is suffocating under rising food, fuel, transportation, electricity, education, and housing costs, and another in which those with wealth, privilege, and access are far better positioned to protect and multiply their fortunes.”
At the core of these reforms is a fundamental conflict. While millions of people struggle to put food on the table, the government celebrates macroeconomic figures.
“An economy cannot be deemed successful only because official statistics appear better, government revenue is increasing, or reserves are improving while the purchasing power of common people is being destroyed. The ability of Nigerians to pay for housing, food, transportation, healthcare, education, and power is the real litmus test for economic policy.