By Osaigbovo Okungbowa, Senior Political Correspondent
ABUJA, Nigeria — Former Vice President Atiku Abubakar has sharply criticised Bola Ahmed Tinubu’s administration, claiming that personal business interests have taken precedent over national development aspirations. Atiku’s views came amid rising worries over the Tinubu administration’s management of critical infrastructure projects and the treatment of local firms.
Allegations of favouritism and neglect:
Atiku slammed the Tinubu administration, accusing it of prioritising personal commercial interests over national development. He claimed that the handling of projects like the Lagos-Calabar coastal route shows a pattern of neglect and favouritism, with due process being ignored in favour of expediency.
Lack of Investor Confidence:
Atiku emphasised the detrimental impact on investor confidence, warning that the treatment of local businesses sends a negative signal to potential investors, discouraging much-needed foreign direct investment. He emphasised that investors constantly monitor the treatment of local firms as a barometer of a country’s investment climate, and Nigeria’s failure to safeguard local businesses may deter future investors.
Dissatisfaction among manufacturing firms:
Atiku cited anger among manufacturing firms, alleging huge losses and market withdrawals caused by the administration’s poorly implemented policies, particularly on exchange rate unification. He cited Aliko Dangote’s criticism of the government’s exchange rate policy, emphasising the need for immediate reforms to restore investor confidence and boost economic growth.
Economic Downturn and Loss of Prestige:
Atiku expressed concern over Nigeria’s diminishing economic status, citing estimates of a drop in ranks among African economies. He lamented Nigeria’s dwindling stature on the continental arena, citing the IMF’s estimate that the country would slide to the fourth-biggest economy in Africa—a dramatic contrast to its status as Africa’s greatest economy just a few years earlier.
Mismanagement in Infrastructure Projects:
Atiku criticised Tinubu’s administration for the rushed and sloppy execution of infrastructure projects, mentioning the Lagos-Calabar coastal route as an example. He expressed worries about insufficient environmental impact assessments, insecure right-of-way acquisitions, and arbitrary project funding decisions, citing mismanagement and a lack of strategic planning.
Call for Accountability and Transparency:
In criticising the Tinubu administration, Atiku emphasised the necessity of accountability and openness in governance. He requested answers for the administration’s handling of critical projects and urged officials to prioritise national interests over personal agendas, asking for increased participation and due process in decision-making.
Atiku’s severe critique of the Tinubu administration highlights long-standing issues about Nigerian governance and economic management. As the country faces economic challenges and infrastructure shortages, the demand for honest and transparent leadership is more critical. Atiku’s demand for a reevaluation of priorities and a renewed commitment to national development is timely, given Nigeria’s mounting discontent and concern about its future trajectory.
