Atiku Abubakar, the Peoples Democratic Party’s (PDP) presidential candidate in the 2023 election, has criticized President Bola Tinubu’s economic reforms, stating that his own approach would have shielded Nigeria’s economy from deeper crises.
In a post on his X account, Abubakar claimed his administration would have better prepared and assessed Nigeria’s economic conditions before implementing critical reforms.
Abubakar pointed specifically to Tinubu’s removal of the petrol subsidy, the floating of the exchange rate, and the increase in electricity tariffs, which he described as “overkill” policies that have put undue strain on the Nigerian economy. He argued that he would have taken a gradualist approach to subsidy removal, referencing his time as vice president, when a phased method was used for similar reforms.
As part of his alternative plan, Abubakar said he would have established an economic stimulus fund (ESF) with an initial $10 billion investment to support micro, small, and medium enterprises (MSMEs) across all sectors, boosting local businesses and safeguarding jobs.
The former vice president also emphasized that his administration would have implemented a managed-floating system for foreign exchange rather than an abrupt shift to a floating rate. He explained that while a fixed exchange rate would not suit a private sector-oriented economy, a fully floating rate would have risked destabilizing the economy.
In addressing Nigeria’s security challenges, Abubakar mentioned that his administration would have prioritized diplomacy, intelligence, and traditional community engagement for conflict resolution. His plan also included eliminating revenue leakages by reducing government expenditures and tightening procurement processes, which he claimed would demonstrate a commitment to leading by example.
 presidential candidate in the 2023 election, has criticized President Bola Tinubu's economic reforms, stating that his own approach would have shielded Nigeria's economy from deeper crises. ){kind=link}