The presidency has issued a strong rebuke of former Vice President Atiku Abubakar’s recent economic proposals, claiming that his approach would have exacerbated Nigeria’s economic woes if he were in power. The response, delivered by Bayo Onanuga, Special Adviser on Information and Strategy, came after Abubakar, the Peoples Democratic Party (PDP) presidential candidate in 2023, shared his perspective on managing Nigeria’s economic challenges.

Abubakar recently criticized President Bola Tinubu’s administration for its rapid implementation of multiple reforms, including the removal of petrol subsidies, adoption of a floating exchange rate, and increases in electricity tariffs. He argued that, while these measures might be necessary, their simultaneous rollout has caused undue hardship for Nigerians. Advocating a “gradualist approach,” Abubakar suggested his administration would have proceeded with greater caution.

Onanuga dismissed Abubakar’s recommendations, describing them as lacking in substance. He stressed that Tinubu inherited an economy weighed down by critical issues, where subsidies were draining resources and currency arbitrage was undermining the foreign exchange market. “No responsible leader would allow such economic imbalances to continue unchecked,” Onanuga asserted.

He further countered that while gradual reforms might sound appealing, Tinubu’s administration took the decisive actions needed to stabilize the economy—actions, Onanuga noted, that “should have been taken decades ago by Abubakar and his then-superiors.” Onanuga added that Tinubu’s government is implementing reforms with a “human face,” providing safety nets and targeted support for vulnerable groups affected by the economic changes.