Tinubu’s Faltering Economy: Nigeria Deserves Better Policies- Atiku Abubakar
I have taken note of the initial responses highlighting the striking disparity between President Tinubu’s faltering economic policies and the alternatives I have proposed. It is exciting to witness such a vigorous debate on these critical matters, and I sincerely hope that this discourse will ultimately benefit Nigeria and its citizens.
Like many fellow Nigerians, I firmly believe that we find ourselves in this current economic turmoil due to the Tinubu administration’s hasty ascent to power, devoid of a coherent plan.
In stark contrast, my team not only devised a comprehensive Recovery Plan, but also welcomed significant input from Nigerians, ensuring that our approach was inclusive and well-considered.
Isn’t it fascinating how the so-called “tested” Tinubu administration’s only policy response seems to be a national prayer led by the First Lady and the NSA? Just a mere 24 hours after I proposed my alternative solutions! What a bold strategy! ????
In my humble interpretation of the scriptures, prayer indeed serves as a noble path to follow. However, the sacred texts also counsel us to engage in diligent labour and hard work.
It is therefore uncharitable for Tinubu’s team to claim that my proposals remain untested. What remains unproven is the erratic, trial-and-error nature of the policies so far implemented by this administration, which elucidates our present predicament.
Let us not forget that under our economic stewardship between 1999-2003, Nigeria soared to the pinnacle of Africa’s economies, while their administration has relegated us to a disheartening fourth position.
The average GDP rate under the Obasanjo administration that I served in was 6.59% and peaked at 15% in 2002; 7.98% under the late Yar’Adua administration and 4.8% under Jonathan compared to the dismal 2.8% of the so-called “tested” Tinubu era. Enough of the pains of the shambolic “bolekaja” economic policy prescriptions!
We cannot hope to tax our way out of the economic quagmire wrought by these misguided experimental policies of a novice administration. Numerous nations, such as the United Arab Emirates, Qatar, and Monaco (an EU territory with a zero-income tax policy), among many others, have emerged as economic powerhouses by fostering growth through lower taxation. Why then are we fixated on inflicting further hardship upon an already struggling populace?
One can only speculate that Tinubu’s government is anchored to a mere Tea-plan, which can only lead to a T-pain.
Furthermore, let me emphasize that the citizens who cast their votes in the 2023 presidential election are well aware that I did not lose; rather, we find ourselves in this predicament because the election was criminally stolen from the Nigerian people.
Atiku Abubakar
Vice President of Nigeria (1999-2007) and Presidential Candidate of the Peoples Democratic Party (2023)
Abuja, 4th November, 2024.
