Presidency fires back at Atiku over economic criticism

The Presidency released a detailed rebuttal to Atiku Abubakar’s criticism of economic policies, citing gains in foreign exchange reserves, foreign direct investment, and domestic refining capacity.

The Presidency released a detailed rebuttal to former Vice President Atiku Abubakar’s criticism of current economic policies. Presidential spokesperson Bayo Onanuga stated that structural fiscal reforms under President Bola Tinubu are yielding macro-stability, citing gains in foreign exchange reserves, foreign direct investment, and domestic refining capacity.

The rebuttal is the latest exchange in an ongoing war of words between the Presidency and the former Vice President. Atiku has been a vocal critic of the administration’s economic policies, while the Presidency has defended its record. The detailed rebuttal suggests that the Presidency is keen to counter Atiku’s narrative.

This echoes the 2022 exchange between Atiku and the Buhari administration, which also involved heated exchanges over economic policy. The mechanism then was different, but the result was the same: a public debate over the direction of the economy.

The winners: the Presidency, which has defended its record; and the Nigerian public, who have more information about the government’s economic performance. The losers: Atiku, who faces a rebuttal; and the Nigerian public, who must decide which narrative to believe.

Bottom Line: The Presidency has rebutted Atiku’s economic criticism. The debate over the economy continues. The question is whether the policies will deliver tangible benefits for Nigerians.