Former Vice President Atiku Abubakar has expressed grave concern over the World Bank’s confirmation that poverty is rising at an alarming rate under President Bola Tinubu’s administration, with over 60 per cent of Nigerians now living below the poverty line – up from about 40 per cent just a few years ago . In a statement signed by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku declared that “this is not reform – it is regression on a monumental scale,” arguing that the crisis is neither accidental nor unavoidable but rather “the direct outcome of poorly conceived and harshly implemented policies” . The former vice president pointed specifically to the abrupt removal of fuel subsidies and the chaotic devaluation of the naira, both executed “without adequate safeguards for the Nigerian people,” as the primary drivers of the poverty surge . “The consequences of these trial-and-error policies are visible everywhere: food prices have spiralled out of control, inflation has wiped out incomes, small businesses are collapsing, and millions more Nigerians are being pushed into extreme poverty,” Atiku said .
The World Bank’s assessment, while not yet publicly released in full, has been briefed to senior government officials and development partners, with preliminary findings indicating that Nigeria’s poverty headcount has increased by approximately 20 percentage points since Tinubu took office in May 2023 . The bank’s analysis attributes the poverty surge to the combination of subsidy removal, which drove transport and food costs sharply higher, and naira devaluation, which eroded purchasing power and pushed basic goods beyond the reach of millions . Atiku noted that “while the Tinubu administration points to abstract macroeconomic indicators, Nigerians are living a far harsher reality – one defined by hunger, uncertainty, and a daily struggle for survival” . He accused the government of being “dangerously disconnected from the lived realities of its citizens,” stating that “a government that presides over a situation where the majority of its people are poor, yet insists that progress is being made, has lost both moral authority and economic direction” .
The former vice president offered what he described as “a clear and credible alternative – one rooted in experience, pragmatism, and compassion,” arguing that reform must be carefully sequenced rather than recklessly imposed . Atiku said social protection must be “real, targeted, and transparent, not symbolic,” and that economic policy must prioritise job creation, food security, and income growth over abstract macroeconomic targets . His approach, he said, focuses on rebuilding productivity through support for small businesses, agriculture, and industry, while ensuring coordination in fiscal and monetary policy to stabilise the economy and restore confidence . “The Waziri Adamawa’s position is straightforward: economic reform must improve lives, not punish them,” the statement read, adding that “leadership is not about defending failure – it is about correcting it” .
