Atiku Takes Fresh Swipe At Tinubu, Proposes $100bn Start-Up Investment

The presidential candidate of the African Democratic Party (ADC), Atiku Abubakar, has taken another swipe at President Bola Tinubu’s administration over the worsening cost-of-living crisis, promising to restore purchasing power and provide $100bn in financing for start-ups and entrepreneurs if elected president in 2027.

Atiku said Nigeria’s young population does not need a government that teaches them how to survive hardship but one that creates the conditions for them to prosper.

The former Vice President said the economic crisis under the present administration had stripped millions of Nigerians of purchasing power, weakened small businesses and made it increasingly difficult for young people to secure jobs, access capital and achieve economic independence.

“My commitment is to change that,” Atiku said in a statement following a meeting with a nationwide delegation of N-Power beneficiaries who declared their support for his presidential candidacy.

According to him, his administration would restore purchasing power, reduce the cost of living and deliberately expand economic opportunities for young Nigerians.

He said this would include a $100bn financing programme targeted at start-ups and entrepreneurs.

“Our objective is simple: move young Nigerians from dependence to enterprise, from unemployment to productivity, and from palliatives to prosperity,” he said.

Atiku said the current economic situation required a fundamental change in policy direction, arguing that Nigeria could not build a sustainable future by merely distributing palliatives to citizens struggling with rising living costs.

“I thanked them for their confidence and reiterated that Nigeria cannot build its future by distributing poverty. We must build an economy that creates jobs, rewards enterprise and gives every young Nigerian a fair chance to succeed,” he said.

The former vice president has repeatedly criticised the Tinubu administration’s economic policies, particularly the removal of petrol subsidy and the government’s approach to managing Nigeria’s borders.

Atiku had argued a few days ago that the abrupt removal of petrol subsidy contributed significantly to the rise in transportation costs, food prices and the general cost of living.

He proposed a different approach to petrol subsidy, insisting that the government should have maintained it temporarily while putting in place measures to cushion its removal and prevent a severe shock to households and businesses.

The ADC candidate also linked Nigeria’s economic difficulties to the closure of the country’s land borders, arguing that restrictions on cross-border trade had compounded hardship for Nigerians who depend on affordable imported goods and regional commerce.

But the government mocked Atiku over the subsidy restoration policy and border closure statement stating the borders were not closed.

Atiku however insisted policies that restrict trade without providing adequate domestic alternatives can drive up prices and reduce the purchasing power of citizens.

His position contrasts with the Tinubu administration’s decision to remove petrol subsidy as part of its broader economic reforms, which the government has defended as necessary to eliminate costly distortions, free resources for development and place the economy on a more sustainable footing.

The government has also maintained that its reforms are intended to attract investment, increase production and create jobs in the long term, despite the immediate economic pains acknowledged by the administration.

Atiku, however, maintained that the immediate hardship being experienced by Nigerians cannot be dismissed as an unavoidable consequence of reform.

He said his proposed economic programme would focus on making Nigeria more affordable while expanding opportunities for young people and entrepreneurs.

“It was against this background that I was pleased to receive, this afternoon, a nationwide delegation of N-Power beneficiaries who came to declare their support for my presidential candidacy,” he said.

Atiku said the choice Nigerians face ahead of the 2027 election was fundamentally about whether to continue with an economic model that he believes is shrinking opportunities or pursue one focused on restoring purchasing power, jobs and prosperity.

“The choice before us is between continuing with an economy that shrinks opportunities and building one that restores hope, dignity and prosperity,” he said.

“We will make Nigeria affordable again,” Atiku added.