Atiku Mentions What Nigeria Needs To Do to Escape Tinubu’s Economic Trap
- Atiku Abubakar said Nigeria's economic hardship stems from policies that rewarded importation over industrial production
- The former vice president cited food inflation figures and a ₦3.53 trillion raw material import bill as proof of a failing economic model
- Atiku outlined what an ADC government would do to shift Nigeria toward agriculture, manufacturing and export-led growth
Legit.ng journalist Adekunle Dada has over 8 years of experience covering metro, government policy, and international issues
FCT, Abuja - The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has said Nigeria will never achieve prosperity through borrowing, importing goods or raising taxes.
Atiku argued that the country's only path forward is to produce its own food, manufacture its own goods and build an export economy.
Source: Facebook
The former vice president said the economic suffering many Nigerians now face is not simply a product of global conditions but the direct result of decades of policy choices that favoured consumption over production.
Atiku made the remarks in a statement released and made available to Legit.ng on Monday, July 20, 2026, by his Senior Special Assistant on Public Communication, Phrank Shaibu.
"For too long, we have celebrated importation while neglecting production. We import food that should be grown in our fields, goods that should be manufactured in our factories and even raw materials that ought to be processed by Nigerian hands. No nation has ever become prosperous by exporting jobs and importing poverty."
Food inflation and factory decline
To support his position, Atiku pointed to current economic data that food inflation stood at 17.52 per cent nationally, while Kogi State recorded 53.02 per cent and Niger State 43.83 per cent.
He also said Nigerian manufacturers spent ₦3.53 trillion importing raw materials in just six months.
According to Atiku, the falling manufacturing tax contributions showed that factory output across the country was shrinking.
"A nation cannot build prosperity when its factories are falling silent. We are exporting jobs, importing inflation, weakening the naira and mortgaging our future."
Atiku said cocoa from Ondo State, rice from Kebbi, yam from Benue, tomatoes processed in Kano, pharmaceuticals from Aba, leather goods from Kano and machinery assembled in Nnewi all represent the kind of production activity that creates jobs and strengthens the currency.
What an ADC govt would do
He recalled that economic reforms carried out during the Obasanjo-Atiku administration between 1999 and 2007 opened key sectors to private investment and delivered one of Nigeria's strongest periods of growth.
Atiku said a future ADC government would build on that legacy.
Among the measures he proposed are cutting import duties on industrial machinery not made locally, providing long-term affordable credit to farmers and manufacturers.
He also proposed stabilising the naira, investing in power, roads, rail, irrigation and storage, and reforming the tax system to reward production rather than penalise it.
The ADC flagbearer also said restoring security to farming communities would be a priority, arguing that food security starts with farm security.
"Factories cannot thrive where borrowing is prohibitive, energy is unaffordable, the currency is unstable, and consumers are too poor to buy locally made goods. Our mission is simple: Produce in Nigeria. Employ Nigerians. Consume Nigerian products. Export Nigerian excellence."
Source: Facebook
Atiku slams Tinubu over 2026 budget
Recall that Atiku described the 2026 Federal Budget as the most brazen assault on transparency in Nigeria's democratic history.
The Service-Wide Vote in the 2026 Appropriation Act ballooned from ₦638 billion to ₦12.8 trillion, a near 1,918% rise in one year.
Atiku demanded the National Assembly launch a line-by-line investigation into the allocations and asked who the workers earning ₦2.19 trillion in personnel costs are.
Atiku raises fresh scandal in Tinubu's administration
Meanwhile, Legit.ng also reported that Atiku described the Tinubu administration as one of Nigeria's most fiscally reckless governments following revelations of ₦210 billion in duplicated budget allocations.
He linked the budget scandal to Nigeria's poor performance on nearly 90% of global prosperity indicators.
Atiku demanded a forensic review of the 2026 Appropriation Act and called on anti-corruption agencies to independently scrutinise the federal budget.
Source: Legit.ng
