Former Vice President Atiku Abubakar has criticised the administration of President Bola Ahmed Tinubu, accusing it of deepening the economic hardship faced by Nigerian workers despite its initial promises of reform and relief.
In a statement marking the 2026 Workers’ Day celebration, Atiku argued that the government’s “Renewed Hope” agenda has instead resulted in what he described as “renewed hardship” for millions of Nigerians grappling with rising living costs and economic uncertainty.
“It is now evident that what has been renewed is not hope, but hardship,” he said, highlighting the growing pressure on workers across various sectors, including teachers, healthcare professionals, civil servants, and artisans.
He faulted the implementation of the fuel subsidy removal policy, noting that while the policy may be justified in principle, its execution was flawed. According to him, the sudden removal without adequate cushioning measures led to sharp increases in fuel prices, transportation costs, and food inflation, leaving ordinary citizens to bear the burden.
“A responsible government would have put safety nets in place. Instead, the subsidy was removed, and Nigerian workers were left to struggle,” he stated.
Atiku also questioned how the funds saved from the subsidy removal have been utilised, arguing that there has been little visible improvement in the living conditions of citizens. He expressed concern over government spending priorities, particularly large-scale infrastructure projects, which he claimed lack transparency and direct impact on the people.
On monetary policy, he criticised the decision to float the naira without sufficient structural backing, saying the resulting depreciation has weakened purchasing power and made essential goods, including medicines, increasingly unaffordable.
“The fall of the naira has effectively wiped out any income gains workers may have had,” he said, adding that many import-dependent businesses have either downsized or shut down, further worsening unemployment.
He also took issue with ongoing tax reforms, describing them as excessive and poorly timed. “Raising taxes in the midst of an economic crisis is not sound fiscal policy; it is punitive,” he argued.
Atiku further raised concerns about the rising national debt, noting that increased borrowing has not translated into tangible development. “The numbers simply do not add up,” he said, calling for greater transparency and accountability in public finance management.
Addressing Nigerian workers, he commended their resilience in the face of economic challenges, stressing that their difficulties stem from policy decisions rather than personal shortcomings.
“They voted in hope, not hardship,” he said, urging the government to adopt a more people-focused approach to governance.
He called for renewed attention to economic reforms that prioritise job creation, social protection, and improved living standards, emphasising that the country’s resources must be managed in a way that benefits all Nigerians.