Tinubu Presidency Hits Back at Atiku's Criticism Over Nigeria's Economic Policies

• Atiku's criticism of Tinubu's economic policies is based on outdated data from 2024.
• Nigeria's economy has rebounded sharply in dollar and naira terms under Tinubu's leadership.
• The Presidency emphasizes that debt must be assessed relative to economic capacity and revenue performance.
• Nigeria's debt-to-GDP ratio is not the sole measure of fiscal health, but rather one indicator among many.

These figures should continue to be assessed alongside real GDP growth, inflation, and household welfare. They do illustrate that the economy did not remain frozen at its most difficult moment.

Former Vice President Atiku Abubakar has been vocal in his criticism of President Bola Tinubu's economic policies, accusing the administration of financial recklessness. However, a closer examination of Nigeria's economic performance reveals that the country has made significant strides under Tinubu's leadership. According to data from 2025 and 2026, Nigeria's economy has rebounded sharply in dollar and naira terms, with its dollar-denominated GDP rising from $253 billion to approximately $377 billion - a 49% recovery. Similarly, Naira GDP expanded from ₦314 trillion to around ₦530 trillion, a 69% increase.

In response to Atiku's criticism, the Presidency has emphasized that his economic arguments remain anchored in outdated data from 2024. The administration argues that Nigeria's economy has evolved considerably since then, with necessary structural adjustments being made to correct distortions that persisted through earlier administrations. These reforms are meant to ensure that the country's debt is sustainable and productive investments are made. The Presidency also highlighted the importance of considering evolving economic realities when assessing a country's financial health.

The Presidency has stressed that Nigeria's debt-to-GDP ratio, which stands at about 40%, is not the sole measure of fiscal health. In fact, the administration argues that this ratio should be considered alongside real GDP growth, inflation, and household welfare. By doing so, it becomes clear that the economy has made significant progress since its most difficult moment in 2024. Furthermore, the debt-service-to-revenue ratio has fallen from nearly 100% in late 2022 to under 60% today, reflecting improved revenue efficiency and conservative debt management.

Lawyers and compliance officers should note that the Presidency's response highlights the importance of considering evolving economic realities when assessing a country's financial health, and that debt-to-GDP ratio is not the sole measure of fiscal health. They should also be aware of the potential implications for Nigeria's economy under President Tinubu's reform agenda.

Source: Original reporting via Presidency