Former Vice President Atiku Abubakar has expressed strong disapproval of the recent fuel price hikes under President Bola Tinubu’s administration, attributing Nigeria’s worsening economic crisis to what he called a “haphazard and disingenuous” approach to managing the fuel subsidy removal.
In a statement, Atiku argued that the government’s handling of the subsidy issue has led to the current wave of economic challenges, including skyrocketing inflation, which continues to erode the living standards of millions of Nigerians. He emphasized that the removal of the fuel subsidy, without a clear and well-thought-out plan, has resulted in unintended consequences that are severely impacting the nation’s economy and putting additional strain on already struggling citizens.
“The current administration’s disorganized approach to fuel subsidy management is the reason we find ourselves in this economic mess,” Atiku said. “There seems to be no end in sight to the rising inflation, which is suffocating the material well-being of Nigerians.”
Since assuming office, President Tinubu has overseen the removal of the long-standing fuel subsidy, which had been a significant drain on public finances but also a key factor in keeping fuel prices relatively stable. The government argued that the subsidy was unsustainable and needed to be removed to free up resources for other critical sectors of the economy. However, the aftermath of the removal has been sharp increases in fuel prices, with the cost of Premium Motor Spirit (PMS) soaring past N1,000 per litre in some parts of the country.
The increase in fuel prices has had a cascading effect on other aspects of the economy, leading to higher transportation costs, rising food prices, and a general increase in the cost of living. Inflation has continued its upward trajectory, hitting record highs as businesses and households alike struggle to cope with the mounting financial pressures. Many Nigerians are finding it increasingly difficult to afford basic necessities, and the economic hardship has sparked widespread frustration.
Atiku expressed particular concern over the administration’s apparent lack of empathy for the suffering of the people. “What is most troubling is that the government appears unbothered by the hardship faced by ordinary Nigerians,” he said. “The pain is real, and yet, there seems to be no urgency or meaningful response from those in power.”
The former vice president’s comments come at a time when the government is facing growing criticism over its economic policies. Many argue that while removing the fuel subsidy may have been necessary, the timing and execution were flawed. Critics contend that there was insufficient planning to cushion the effects on the population, particularly the most vulnerable groups who have been hit hardest by the resulting price increases.
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