- A civic group has criticised Atiku’s economic claims as politically motivated and lacking context
- The group highlighted positive economic indicators under Tinubu’s administration amidst ongoing reforms
- It called for fact-based engagement in economic discourse, dismissing political theatrics ahead of the 2027 elections
Abuja, FCT – A civic group, Advocates for Economic and Political Advancement, has criticised former Vice President Atiku Abubakar over his recent comments on Nigeria’s economy, describing them as “cheap politics” and propaganda rather than objective analysis.
Legit.ng notes that the group’s remarks add to the growing public debate over the economic reforms introduced by President Bola Ahmed Tinubu, which have drawn both praise and criticism amid persistent cost-of-living pressures.
Photo credit: The Advocates
Source: UGC
Group dismisses Atiku’s claims
Speaking at a press conference in Abuja, the group’s spokesman, Opialu Fabian, said Atiku’s reference to Nigeria’s external reserves, estimated at $48.45 billion, was misleading and lacked context.
Fabian argued that projections show reserves could rise above $51 billion within the year, framing the current figures as part of a “managed adjustment” rather than evidence of economic decline.
“Select a number. Strip it of context. Amplify it for political effect. That is not economic analysis. That is political theatre,” the group said.
Debate over economic indicators
The group noted that external reserves are shaped by multiple factors, including exchange rate management, capital inflows and central bank interventions, warning against using a single indicator to assess economic performance.
It also accused the former vice president of allowing political considerations to shape his economic commentary following previous unsuccessful presidential bids.
Highlighting what it described as progress under Tinubu’s administration, the group pointed to projections of 4.49% economic growth and a reported decline in inflation from above 34% to around 14.5%, with expectations of further easing.
It also cited a balance of payments surplus and what it called a gradual return of investor confidence as signs that reforms are gaining traction.
The Advocates praised recent economic policy direction, including tax reforms and efforts to improve revenue generation and asset utilisation.
They noted that more than $20 billion remains locked in banking system reserves, while public assets worth trillions of naira are underutilised, issues they said the government is attempting to address.
The group also defended key policy decisions such as the removal of fuel subsidies and the unification of the foreign exchange market, describing them as difficult but necessary steps that are beginning to yield results, including increased allocations to state governments.
Atiku vs Tinubu: Group calls for ‘fact-based engagement’
While acknowledging that Nigeria remains in a transition phase with ongoing challenges, the group urged political leaders to engage more constructively in economic discourse.
It called on Atiku to focus on “facts rather than recycled talking points,” insisting that early signs of stabilisation should not be dismissed.
“The economy is stabilising. The reforms are taking hold. The direction is clear. No amount of political noise can change that reality,” the group said.
Photo credit: The Advocates
Source: UGC
Atiku slams Tinubu over palliative distribution
Earlier, Legit.ng reported that Atiku criticised the distribution of food items by the administration of President Tinubu, describing it as a political tactic rather than a genuine response to hardship in Northern Nigeria.
The former vice president was reacting to the recent rollout of rice and cash palliatives led by First Lady Oluremi Tinubu.
The intervention involved 100 trucks of rice and N1.2 billion distributed across northern states and the Federal Capital Territory (FCT).
Source: Legit.ng