Former Vice President, Atiku Abubakar, has criticised the administration of President Bola Tinubu, describing Nigeria's current economic situation as "organised hardship dressed up as reform."
In a statement issued on Sunday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said the recent warning by the International Monetary Fund (IMF) merely validated the daily realities faced by Nigerians.
"At a time when Nigerians were promised renewed hope, what they have received is renewed hardship, raw, relentless, and unforgiving," Atiku said. "The IMF is not breaking news; it is confirming a national emergency that this administration refuses to acknowledge."
The African Democratic Congress (ADC) chieftain argued that while government officials continued to communicate in "polished economic jargon," ordinary Nigerians were grappling with worsening living conditions.
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"Wages have become worthless paper, markets have turned into museums of unaffordable goods, and survival has become a daily gamble," he said.
Atiku further lamented that despite rising global oil prices, citizens are experiencing deeper economic strain, citing escalating food prices, high transportation costs, exchange rate instability, and the persistent depreciation of the naira.
"At the grassroots, the story is even more brutal," he added. "Parents are pulling children out of school because education is now a luxury. Farmers are abandoning their lands out of fear of violence."
He also painted a bleak picture of youth unemployment and the struggles of small businesses.
"Young people roam the streets, degrees in hand but hope in short supply. Small businesses are folding up like a pack of cards under the weight of electricity tariffs, taxes, and a suffocating business climate," he said.
The former vice president warned that the situation amounted to more than an economic downturn, describing it as a growing "erosion of human dignity."
"This administration has turned sacrifice into a one-way street where the people bleed and the government lectures," Atiku stated. "You cannot ask hungry people to be patient while policies choke the life out of them. That is not reform, that is punishment."
Raising concerns over Nigeria's rising debt profile, Atiku cautioned that the country risks mortgaging its future without delivering immediate benefits.
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"We are borrowing like there is no tomorrow, yet there is nothing to show today," he said. "No jobs, no relief, no visible improvement in the lives of the people--only mounting debt and mounting pain."
He also criticised what he described as the government's reliance on "abstract economic theories," arguing that governance should focus on tangible improvements in citizens' lives.
"Governance is not a classroom exercise," he said. "It is about whether a pot boils in the kitchen, whether transport fare can be afforded, whether a small trader can restock, and whether a nation's youth can dream again.Today, those simple things have become distant luxurie."
Calling for urgent intervention, Atiku urged the Federal Government to abandon what he termed "trial-and-error economics" and prioritise policies aimed at stabilising prices, supporting small businesses, reducing transportation costs, and protecting vulnerable populations.
"This is not the time for speeches. It is the time for rescue," he said. "Leadership must step down from its high horse and walk the dusty streets where Nigerians are struggling to breathe."
He concluded by questioning the overall impact of the administration's policies on citizens.
"The true test of leadership is simple: are the people better off or worse? Today, Nigerians are worse off--far worse off. And no amount of spin can hide that truth."
