ABUJA, Nigeria — In a blistering critique that has electrified Nigeria’s political landscape, former Vice President and 2023 presidential candidate of the People’s Democratic Party (PDP), Atiku Abubakar, outlined an alternative roadmap he would have taken to govern Nigeria if he were in power.
Addressing critical issues in President Bola Tinubu’s administration, Atiku’s statement spans topics from economic reforms and subsidy removal to national security, infrastructure, and foreign exchange management. This striking declaration challenges Tinubu’s policies and decisions, presenting an incisive reflection on what some Nigerians perceive as ineffective governance and poor leadership strategies.
In this exposé, we delve into Atiku’s vision, dissect the core components of his proposed policies, and analyze the impact of Tinubu’s administration’s actions on Nigeria’s economy, security, and socio-political structure. With the 2023 general election a recent memory, this commentary comes at a crucial moment when Nigerians are grappling with harsh economic realities.
Through Atiku’s words, we gain insight into the policies he believes would have steered Nigeria away from its present economic and social turmoil. This report not only contrasts Atiku’s theoretical solutions with Tinubu’s decisions but also considers the deeper implications of Atiku’s insights for Nigeria’s future trajectory.
Atiku’s Alternative Vision: A Deep Dive into His “Covenant with Nigerians”
Atiku Abubakar’s statement goes beyond simple political rhetoric; it reflects a meticulously crafted plan based on a detailed policy document titled “My Covenant with Nigerians.” Unlike President Tinubu, whom he accuses of deploying “trial-and-error” strategies, Atiku insists that his approach would have been characterised by careful planning, robust consultations, and a sequenced implementation of reforms aimed at stabilising Nigeria’s fragile economy.
Underpinning Atiku’s proposal is a clear focus on diagnostic assessments of Nigeria’s economic conditions. He argues that effective governance begins with an accurate understanding of the nation’s weaknesses and challenges. His emphasis on consultations and the inclusion of all stakeholders suggests an approach that values inclusivity and accountability—elements that he contends are missing from Tinubu’s administration.
Critiquing Tinubu’s Economic Policies: “An Overkill” Approach?
One of Atiku’s most scathing criticisms of Tinubu’s administration is the simultaneous implementation of sweeping economic reforms without adequate stabilisation measures. According to Atiku, “unleashing reforms to determine an appropriate exchange rate, cost-reflective electricity tariff, and PMS price at one and the same time is certainly an overkill.” He contends that these policies, implemented without a robust framework, have exacerbated inflation, stifled small businesses, and plunged many Nigerians into deeper economic hardship.
Atiku’s perspective points to a fundamental difference in economic philosophy. His strategy, as he describes it, would have prioritised achieving “fiscal and monetary congruence” before introducing significant reforms. By sequencing reforms and ensuring a stable exchange rate prior to the removal of subsidies, he argues, the economy could be cushioned from the shockwaves that Tinubu’s policies have unleashed. Here, Atiku’s critique resonates with many Nigerians who feel Tinubu’s policies have lacked foresight and have failed to consider the day-to-day realities of ordinary citizens.
Leading by Example: A Call for Transparency and Accountability in Governance
In a nation where corruption and mismanagement have long plagued public institutions, Atiku’s pledge to lead by example is particularly striking. He highlights a crucial point—that true leadership requires humility, transparency, and a commitment to living modestly while citizens struggle. According to Atiku, “any fiscal reform to improve liquidity and the management of our fiscal resources must first eliminate revenue leakages arising from governance.”
Atiku’s statement implies that Tinubu’s administration, instead of championing fiscal responsibility, has chosen policies that burden Nigerians while maintaining a luxurious lifestyle for government officials. This assertion speaks to the heart of Nigeria’s economic crisis: an entrenched system of wealth for the elite, subsidised by the sacrifices of the masses. Atiku’s approach suggests that he would have introduced austerity measures within government circles before imposing painful economic reforms on the general populace.
Subsidy Removal: A Controversial Standpoint
The removal of subsidies, a decision that has sparked outrage across Nigeria, serves as a significant point of contention between Atiku’s vision and Tinubu’s policies. Atiku has long advocated for the removal of petroleum subsidies, arguing that the process is “opaque with so much scope for arbitrariness and corruption.” However, he emphasises a gradualist approach, a method that he claims would have minimised the economic disruption caused by an immediate, full withdrawal.
Atiku’s alternative plan includes a comprehensive social protection program, designed to shield Nigeria’s vulnerable populations from the sharp price increases resulting from subsidy cuts. In stark contrast, Tinubu’s approach is seen by Atiku and many critics as abrupt and unsustainable. By comparing Nigeria’s approach to that of countries like Malaysia and Indonesia, Atiku reinforces his stance that a phased subsidy removal would allow for economic adaptation and prevent the widespread hardship currently being experienced.
Addressing Nigeria’s Security Crisis: A Policy of Empathy and Inclusion
Atiku’s policy proposal extends beyond economic issues to address the alarming state of Nigeria’s security. He outlines a transformative approach to reforming security institutions, which includes improved funding, welfare programmes for security personnel, and a Special Presidential Welfare Initiative. His emphasis on enhancing the welfare of security forces is a stark contrast to the reported demoralisation and underfunding faced by personnel under the current administration.
Furthermore, Atiku advocates for alternative conflict resolution methods such as diplomacy and strengthened border control, which he claims would create a safer environment and foster good neighbourliness. His approach calls for leveraging Nigeria’s traditional institutions and forging alliances, signalling a belief in long-term, sustainable peace over reactive military interventions. This shift reflects Atiku’s contention that Tinubu’s policies are too focused on short-term measures, neglecting the structural reforms necessary to create lasting stability.
Launching an Economic Stimulus Fund: Empowering Nigeria’s Youth and MSMEs
One of the most ambitious aspects of Atiku’s proposal is his plan to launch an Economic Stimulus Fund (ESF) with an initial investment of $10 billion. This fund would serve as a lifeline for small and medium-sized enterprises (MSMEs) across sectors, catalyzing job creation and fostering entrepreneurship. Additionally, Atiku proposes a skills-to-job programme targeting Nigeria’s youth—a demographic currently plagued by high unemployment rates.
This aspect of Atiku’s plan underscores his commitment to addressing the root causes of poverty and economic stagnation in Nigeria. By prioritising skills development and providing resources to MSMEs, Atiku presents a vision of an empowered, self-reliant populace—a stark contrast to the existing administration’s reliance on short-term palliatives. His argument that the ESF would have an initial capacity of $10 billion raises questions about Tinubu’s apparent lack of strategic investment in grassroots economic growth.
An Infrastructure Development Unit for Accelerated National Growth
Another pillar of Atiku’s proposed governance model is the establishment of an Infrastructure Development Unit (IDU) that would operate directly under the President’s office. This IDU, he contends, would be responsible for expediting infrastructure projects and ensuring that Nigeria’s infrastructure development agenda aligns with the government’s broader economic objectives.
Atiku’s vision of a dedicated IDU reflects a desire for accountability and coherence in infrastructure projects—a far cry from the fragmented and often inefficient execution witnessed under previous administrations. By bringing infrastructure development directly under presidential oversight, Atiku argues that Nigeria could avoid the bureaucratic bottlenecks that typically stall projects, thereby creating an enabling environment for economic growth.
Reforming Foreign Exchange: A Managed Floating System
One of the most contentious issues within Nigeria’s economic sphere is the management of foreign exchange. Atiku proposes a managed floating system, contrasting sharply with the current administration’s handling of multiple exchange rate windows. He condemns the current system, labelling it as one that enriches “opportunists, rent-seekers, middlemen, arbitrageurs, and fraudsters.”
Atiku’s managed float approach would, according to him, create a balance between stability and flexibility in the exchange market. This stance is intended to foster a fairer economic environment where foreign exchange rates do not disproportionately benefit an elite few. Atiku’s insistence on a gradual approach, rather than abrupt shifts in policy, echoes his recurring theme of strategic, people-centred governance.
A Vision of Accountability, Empathy, and Structured Reform
Atiku Abubakar’s critique of President Tinubu’s administration is as much a roadmap for reform as it is an indictment of Nigeria’s current state. His proposals reveal a model that emphasises consultation, empathy, accountability, and strategic planning—qualities he suggests are absent in Tinubu’s administration. Through his “Covenant with Nigerians,” Atiku attempts to lay out a compelling vision for a nation free from the clutches of short-sighted policies and elite-driven economics.
While it is uncertain whether Atiku’s proposals could fully address Nigeria’s complex challenges, his ideas resonate with a population weary of government inefficiency and economic hardship. His statement shines a spotlight on the potential for a different Nigeria, one led by empathy, responsibility, and a commitment to genuine reform. Whether or not Atiku will have a chance to implement his ideas remains to be seen, but his vision has undoubtedly added a powerful voice to Nigeria’s ongoing conversation about its future.
