Former Vice-President and African Democratic Congress presidential candidate Atiku Abubakar has criticised President Bola Tinubu’s economic policies, arguing that rising production costs and insecurity are weakening Nigeria’s agricultural and manufacturing sectors.
Atiku raised the concerns in a statement issued on Wednesday by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council.
He argued that government policies had increased the cost of farming, manufacturing and transporting goods, making it more difficult for Nigerian businesses to compete.
The former vice-president also questioned the administration’s performance in agricultural exports, citing trade figures that he said demonstrated a substantial deterioration in Nigeria’s position.
Agricultural Trade Figures Spark Dispute
Atiku cited figures indicating that Nigeria’s agricultural trade position shifted from a ₦740.27 billion surplus in the first half of 2025 to a ₦56.13 billion deficit in the corresponding period of 2026.
That represents a reversal of approximately ₦796.4 billion.
He also said agricultural exports declined by 33.3 per cent over the period.
The figures formed the basis of his criticism of the administration’s approach to domestic production and international trade.
A trade deficit occurs when the value of imports exceeds exports during a specified period.
However, the trade balance alone does not establish the cause of changes in agricultural performance. Commodity prices, production conditions, import demand and other factors can also influence the figures.
Farmers Face Insecurity and High Costs
Atiku argued that insecurity continues to affect agricultural production while high transportation and energy costs place additional pressure on farmers and processors.
He called on the government to explain what it had done to make farming safer and reduce the cost of moving produce to markets.
The ADC candidate also questioned measures intended to improve the competitiveness of Nigerian manufacturers.
His criticism reflects the wider political debate over whether the benefits of economic reforms are reaching businesses and households.
Atiku Proposes Domestic Refining Support
Beyond criticising existing policies, Atiku outlined an alternative approach to petroleum-product pricing.
He proposed a production-linked subsidy for qualifying petroleum products refined within Nigeria.
According to him, the support would apply to eligible domestic refineries, including modular refineries, while imported products would be excluded.
Atiku said the proposed subsidy would be capped, included in the budget and independently audited.
He also proposed mechanisms to track whether the financial benefits reach consumers and businesses.
Value Addition Becomes Campaign Issue
The former vice-president argued that Nigeria must move beyond exporting agricultural commodities in relatively unprocessed forms.
He cited products such as cashew nuts and cocoa beans, saying the country could retain more economic value by expanding local processing.
The argument centres on the potential for domestic manufacturing to generate employment and increase earnings from agricultural exports.
However, establishing processing industries requires reliable electricity, financing, logistics and access to competitive markets.
Government Maintains Reform Position
Tinubu’s administration has consistently presented its economic reforms as necessary to improve macroeconomic stability and create conditions for investment.
Government officials have acknowledged the immediate hardship associated with the changes while arguing that progress is being recorded.
Atiku’s criticism represents a competing interpretation of the reforms’ economic impact.
The disagreement is expected to remain prominent as political parties debate economic policy ahead of the 2027 elections.
Economy Takes Centre Stage
For voters, the debate extends beyond headline economic indicators.
Farmers, manufacturers and households are concerned about production costs, employment, food prices and purchasing power.
The competing policy approaches raise important questions about how Nigeria should support domestic production while maintaining fiscal sustainability.
Atiku’s latest statement places agricultural trade, energy pricing and manufacturing competitiveness at the centre of his campaign’s economic arguments.
