Former Vice-President and ADC presidential candidate Atiku Abubakar has promised to pursue policies aimed at reducing production costs and improving affordability, while accusing President Bola Tinubu’s administration of worsening economic pressure on Nigerian households and businesses.
Atiku made the promise in a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, arguing that Nigeria’s economic challenge goes beyond rising prices to include the country’s continued dependence on exporting raw materials rather than processed goods.
He cited a reported 106 per cent increase in raw-material exports, from N1.86 trillion in the first half of 2025 to N3.84 trillion in the corresponding period of 2026.
According to Atiku, the figures would have greater economic value if commodities such as cocoa, hides, cotton and minerals were processed locally before being exported.
He also raised concerns over about N2.14 trillion worth of unsold manufactured goods, which he attributed to weak consumer purchasing power and high production costs.
Atiku said rising expenses for fuel, electricity, credit and transportation, alongside the weaker naira, were putting manufacturers under pressure while leaving consumers with less money to spend.
“That is why factory shelves are full while kitchen cupboards are empty,” he said.
The former vice-president proposed greater investment in local processing and manufacturing, including the production of chocolate, leather goods, textiles, pharmaceuticals, petrochemicals and processed foods.
His economic recovery plan, he said, would include affordable long-term financing, industrial clusters, agro-processing, mineral beneficiation and support for businesses that add value to Nigerian resources locally.
Atiku also proposed a production-linked fuel subsidy under which government support would be tied to petroleum products refined in Nigeria, verified domestic production and measurable benefits to consumers.
“No production, no subsidy. No domestic supply, no subsidy. No measurable benefit to Nigerians, no subsidy,” he said.
He further proposed a $10 billion financing programme for young entrepreneurs and start-ups operating across agriculture, manufacturing, processing, packaging, logistics, technology and distribution.
Atiku said increasing domestic production would help Nigeria earn more foreign exchange and reduce pressure on the naira.
He argued that economic growth should ultimately translate into improved living standards, saying, “A $1 trillion economy must be something Nigerians can feel in their salaries, their markets, their businesses and their homes.”
Atiku concluded by contrasting his proposed economic approach with the Tinubu administration, declaring: “Tinubu made Nigeria expensive. Atiku will make Nigeria affordable again.”
Atiku Pledges Economic Shift as He Accuses Tinubu of Making Nigeria Expensive
