The African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, has described President Bola Tinubu’s administration as one of the most ruinous governments Nigeria has endured.
Atiku said the administration removed fuel subsidy, celebrated rising public revenues, made everyday life punishingly expensive and continued borrowing with an extraordinary appetite.
He disclosed this in a statement signed by the Director of Strategic Communications of the ADC Presidential Campaign Council, Phrank Shaibu.
According to Atiku, after more than three years of demanded sacrifices, Nigerians are left with higher food, transport and energy bills, strained public services and a recorded public debt of N166.79 trillion as of June 30, 2026, according to the Debt Management Office.
He said, “A government that says more money is coming in must explain why it keeps borrowing and why the people paying for its policies cannot see the promised gains.
“Nigeria’s recorded public debt stood at N49.85 trillion in March 2023 and N166.79 trillion by June 2026.
“I expect President Tinubu to put the full account before Nigerians. He should identify the old debt newly recorded, the foreign debt whose naira value rose with the exchange rate, and every new loan contracted since he assumed office.
“He should show what has been repaid and what remains outstanding. Accounting explanations must not become a hiding place for fresh borrowing.”
Atiku said the debt question could not be separated from what he described as the widening gulf between official claims of economic recovery and the lived reality of ordinary Nigerians.
He added, “The Tinubu economy is producing two Nigerias: one in which ordinary citizens are suffocating under rising food, fuel, transport, electricity, education and housing costs, and another in which those with wealth, access and privilege are far better positioned to protect and multiply their fortunes.
“That is the fundamental contradiction at the heart of these reforms. Government celebrates macroeconomic indicators while millions of citizens struggle to translate those statistics into food on the table.
“An economy cannot be declared successful simply because government revenue is rising, reserves are improving or official statistics look better while the purchasing power of ordinary citizens is being destroyed. The true test of economic policy is whether Nigerians can afford food, transportation, housing, education, healthcare and electricity.”
Tinubu borrows like Shark, heads most ruinous govt ever in Nigeria – Atiku