Former Vice President Atiku Abubakar has criticised President Bola Tinubu over the persistent increase in the cost of living, arguing that Nigerians are more concerned about meeting their daily needs than about political rivalry between the government and opposition.
Atiku’s Senior Special Assistant on Public Communication, Phrank Shaibu, made the remarks yesterday while reacting to comments by President Tinubu on the state of the economy. Although the president did not mention Atiku by name, Shaibu said the remarks were evidently directed at the former vice president.
According to him, Atiku’s position has consistently centred on policies that would make life more affordable, particularly by addressing the rising cost of energy and transportation.
Shaibu said Atiku was primarily concerned about households struggling to put food on the table, pay transportation costs, access medical care and keep their children in school, rather than becoming involved in a personal political exchange with the president.
He also questioned the government’s recent promise to introduce cheaper transportation, boost food production and provide assistance to vulnerable Nigerians within the coming weeks.
Shaibu asked why such measures were only being presented as urgent after Nigerians had endured years of economic difficulties.
He said the government should explain why citizens had to experience prolonged hardship before the administration recognised the need for economic growth to translate into tangible improvements in household incomes and living standards.
The former vice president’s aide also accused the government of taking an inconsistent position on policies designed to reduce living costs. He argued that measures promoted by the opposition should not be criticised as unrealistic when similar ideas were being considered or implemented under the administration’s Renewed Hope agenda.
Fuel Prices and the Cost of Living
Shaibu also raised concerns about the price of petrol in Nigeria, comparing the country’s pump price with those in other oil-producing nations.
He cited petrol prices of approximately N778 per litre in Saudi Arabia, N872 in Kuwait, N475 in Algeria and N441 in Angola. He also said the price in the United Arab Emirates remained below Nigeria’s estimated N1,400 per litre.
Libya, he added, reportedly sells petrol at about N34 per litre.
Shaibu argued that the disparity was difficult to justify given Nigeria’s status as a major oil-producing country and said the high domestic fuel price was placing significant pressure on households and businesses.
Using the current minimum wage of N70,000 as an example, he said a worker earning that amount would spend roughly N56,000 to buy 40 litres of petrol at N1,400 per litre. That, he noted, would amount to about 80 per cent of the worker’s monthly income.
He maintained that expensive petrol has consequences beyond motorists, affecting transport fares, farming, food distribution, manufacturing and the purchasing power of households.
Atiku’s Economic Proposal
Shaibu said Atiku’s proposed Atiku Economic Recovery Plan (AERP) was designed to address the underlying causes of high living costs instead of waiting for prices to rise before introducing temporary relief measures.
Under the proposal, he said, Nigerian crude supplied to domestic refineries would be sold within a clearly defined and transparently budgeted framework. He added that monitoring mechanisms and a consumer pass-through requirement would be used to ensure that any reduction in input costs translated into lower prices for consumers.
According to Shaibu, reducing the cost of fuel at the source could have a wider effect on the economy by lowering transportation expenses and making it cheaper to move farm produce and manufactured products across the country.
He also dismissed Tinubu’s criticism of the proposal in relation to the Nigeria Education Loan Fund (NELFUND). Shaibu described the suggestion that cheaper fuel could undermine student loans, workers’ wages or the minimum wage as an attempt to create unnecessary fear around the proposal.
Education and Student Loans
The Atiku camp also questioned the government’s increasing reliance on student loans as a way of dealing with the rising cost of education.
Shaibu said Atiku had examined the existing student-loan framework and would seek measures aimed at lowering the actual cost of education. He also indicated that the former vice president would consider debt forgiveness for students who meet specified conditions.
“Education should open doors, not mortgage the future,” Shaibu said.
Questions Over Subsidy Savings
Shaibu further challenged the federal government to account for the financial gains it says have resulted from the removal of petrol subsidies.
He referred to the government’s reported figure of about N15.8 trillion generated between June 2023 and December 2025 following the subsidy policy.
The Atiku aide called on the administration to explain how those savings had translated into concrete improvements in the lives of ordinary Nigerians, particularly in light of the sacrifices households have made since the policy was introduced.
He also renewed calls for clarification of almost N30 trillion reportedly identified across various Federation Account revenue records, including deductions, savings, transfers and related transactions.
In another demand for greater accountability, Shaibu asked the government to disclose details surrounding Import Duty Exemption Certificates covering imports valued at about N34 trillion in 2025. He said Nigerians deserved information on the beneficiaries, the value of the exemptions, their legal justification and the benefits delivered to the public.
2027 Election Concerns
Shaibu also questioned the timing of Tinubu’s latest promises of economic relief, suggesting that Nigerians might view the proposed interventions through the lens of the 2027 general elections.
He insisted that Atiku would continue to speak about policies that could reduce the financial burden on ordinary Nigerians.
According to Shaibu, the former vice president’s position is focused on improving affordability and addressing the economic pressures facing households rather than engaging in political exchanges for their own sake.
He concluded by saying Atiku would continue to respond whenever his economic proposals were misrepresented, stressing that the former vice president intended to maintain his advocacy for Nigerians struggling with the rising cost of living.
