Former Vice President and presidential candidate of the African Democratic Congress, Atiku Abubakar, has challenged President Bola Tinubu’s claim that Nigeria has entered an era of prosperity, saying the reality facing many households remains one of rising living costs and economic hardship.
Atiku, in his Independence Day address to Nigerians on Thursday, said the government’s economic reforms had yet to translate into meaningful relief for ordinary citizens, hours after Tinubu declared that the difficult phase of his reforms was over and that the country was moving into an “age of prosperity”.
Tinubu had said in his 66th Independence Day address that the “emergency treatment is over” and that the government’s economic priority had shifted from stabilisation to “shared and widespread prosperity”.
But Atiku disputed the assessment, arguing that official economic indicators did not adequately capture the financial pressures confronting households.
“Today, Bola Tinubu told us that the ‘emergency treatment is over’ and the ‘age of prosperity’ has begun. A President may announce a new chapter in a speech. He cannot announce food onto a family’s table or money into a worker’s pocket,” Atiku said.
“Bola, where is this prosperity?”
The ADC candidate said the removal of the petrol subsidy had contributed to higher transportation and food costs, arguing that Nigerians had not received the level of relief promised by the government when the policy was introduced.
“Three years later, the pain has an address in every home. Bola, where is the benefit?” he asked.
Atiku also faulted the President’s reference to declining inflation, saying a reduction in the rate at which prices rise does not mean that prices have returned to previous levels.
“Bola says inflation has fallen. A slower rise in prices does not restore what families have lost,” he said.
He cited petrol, eggs and bread as examples, claiming that the purchasing power of the minimum wage had fallen significantly since 2023.
According to Atiku, the N30,000 minimum wage in April 2023 could purchase about 118 litres of petrol, while the N70,000 minimum wage could buy roughly 50 litres in 2026.
He also said the average price of an egg rose from about N88 in April 2023 to N261 in May 2026, while a sliced loaf increased from about N500 to N2,000 over the same period.
The former Vice President further questioned the government's description of its reforms as economic “treatment”, saying citizens experiencing hardship should not be expected to accept the pain indefinitely.
“You say Nigerians must endure the pain because you are curing the disease. But when a patient cries out, a doctor listens,” he said.
“A patient who cannot afford to live is not proof that the treatment is working.”
Atiku also reminded the administration that the All Progressives Congress had governed Nigeria for eight years before Tinubu assumed office.
“And you cannot speak as though you arrived from the moon in 2023. Your party had governed Nigeria for eight years,” he said.
“If the country was as sick as you say, tell Nigerians what responsibility your party bears for its condition.”
Atiku outlines fuel subsidy plan
Atiku said his administration, if elected, would introduce a capped production subsidy for petrol refined within Nigeria as part of measures to reduce the cost of living.
He said the scheme would cover verified fuel produced by local refineries, including modular refineries, while imported petrol would be excluded.
“We will introduce a capped, budgeted production subsidy tied to verified fuel refined in Nigeria, including fuel from modular refineries. Imported petrol will not qualify,” he said.
According to him, the programme would be subject to published costs and independent audits.
“The principle is simple: produce here, refine here, create jobs here and pay less here,” Atiku said.
He also called for measures to improve agriculture, manufacturing and youth employment, while criticising aspects of the government’s student-loan and consumer-credit programmes.
Atiku demands contract, debt transparency
The ADC candidate also questioned the procurement process for the Lagos-Calabar Coastal Highway, alleging that Hitech, a company linked to the Chagoury Group, was awarded the project without an open public tender.
He challenged the government to publish the procurement records.
“Then publish the invitations, the bids, the evaluations, the final contract and every variation. Let Nigerians see how this enormous award was decided,” he said.
Atiku equally called for the payment of government contractors with outstanding obligations.
“Pay the contractors. Publish what is owed and when it will be paid,” he said.
On borrowing, he referred to Nigeria’s public debt of N166.79tn as of June 30, 2026, and questioned the rationale for taking on additional liabilities.
“Before you borrow another dollar in the people’s name, tell them what the money already borrowed has delivered. Name the projects. Show what they cost, who benefited and who was paid,” he said.
He also demanded greater transparency over the Federal Government’s cash-transfer programme, following claims that more than 10 million Nigerians had received N75,000 each.
“If you could find ten million people to pay, you can account for the payments,” he said.
Security, elections
Atiku also criticised the government over insecurity, saying armed groups continued to kill and displace Nigerians.
“A government that cannot make life affordable and cannot protect life has failed the two tests that matter most to its people,” he said.
He called for due process in cases involving detained political activists and renewed his demand for the release of five young Nigerians arrested in Borno after wearing “Tinubu Must Go” T-shirts.
On the 2027 elections, Atiku pledged to strengthen the independence of the Independent National Electoral Commission and support the prompt publication of polling-unit results if elected.
“I will work to end election rigging. I will respect INEC’s independence, support the prompt publication of results from every polling unit, and insist that anyone caught buying votes or changing results faces the law - even if that person belongs to my party,” he said.
“Your vote must count as you cast it. You should not need powerful friends to make it count.”
He urged Nigerians to scrutinise all presidential candidates, including himself, and demand clear and measurable commitments.
“Listen closely. Question every candidate, including me. Demand plans that can be examined and promises that can be measured. Protect your vote and refuse intimidation,” he said.
Atiku ended his address with a direct challenge to Tinubu’s prosperity message.
“Bola, the Promised Land is not in sight merely because you can see it from the villa. Nigerians must be able to reach it,” he said.
The exchange came on Nigeria’s 66th Independence Day, with Tinubu maintaining in his address that the country had moved beyond the most difficult phase of his economic reforms and was now positioned for broader prosperity.
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