Former Vice President, Atiku Abubakar, on Sunday, April 19, 2026, intensified his criticism of President Bola Tinubu’s economic policies, saying a recent assessment by the International Monetary Fund (IMF) has confirmed worsening hardship in Nigeria.
In a statement issued through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku described the economic situation as “organised hardship dressed up as reform,” blaming policy inconsistency, weak leadership, and a widening gap between official claims and citizens’ lived reality.
He said the IMF’s latest outlook merely validated what Nigerians already experience, despite government assurances of macroeconomic improvement.
The IMF, in its April 2026 Global Financial Stability Report, downgraded Nigeria’s 2026 growth forecast to 4.1 per cent, citing global cost pressures, including higher fuel, fertiliser, and shipping costs weighing on non-oil sector activity.
It added that while higher oil prices may offer limited support, overall growth remains subdued, with a gradual recovery expected in 2027.
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Reacting, Atiku said Nigerians are grappling with declining purchasing power, rising inflation, and surging living costs that continue to erode incomes.
He argued that wages have lost value, while essential goods and services have become increasingly unaffordable.
He also pointed to worsening conditions, including insecurity in farming communities, rising school dropouts linked to poverty, and growing youth unemployment.
According to him, small businesses are struggling under high electricity tariffs, taxes, and operating costs.
“This is not reform; it is punishment,” he said, adding that governance must be judged by its impact on food security, jobs, transport costs, and business survival.
Atiku further warned that Nigeria’s rising debt profile, without visible improvement in living standards, poses long-term economic risks, stressing that borrowing must translate into tangible benefits for citizens.