Former Vice President Atiku Abubakar and former Anambra State governor Peter Obi have challenged President Bola Ahmed Tinubu’s assessment of Nigeria’s economic progress in his Independence Day address, arguing that the realities facing many Nigerians remain difficult.
Tinubu, in his October 1 address marking Nigeria’s 66th Independence anniversary, said the country was moving from economic reforms towards prosperity, with reducing inflation and other indicators pointing to progress.
Atiku, the African Democratic Congress (ADC) presidential candidate, however, said official economic figures did not adequately reflect the experiences of millions of Nigerians struggling with the rising cost of living.
He pointed to declining household purchasing power, noting that a N30,000 minimum wage in April 2023 could buy about 118 litres of petrol, while the current N70,000 minimum wage could purchase roughly 50 litres.
“A President may announce a new chapter in a speech. He cannot announce food onto a family’s table,” Atiku said.
He proposed a capped, budgeted production subsidy for petrol refined domestically, arguing that the measure could support local refining while reducing fuel costs for consumers.
Atiku also demanded greater transparency over government spending, including the Lagos-Calabar Coastal Highway contract, conditional cash transfers and Nigeria’s public debt, which he put at N166.79 trillion as of June 2026.
He further criticised the removal of the petrol subsidy and questioned whether Nigerians were receiving sufficient benefits from the government’s economic reforms.
Obi, the Nigeria Democratic Congress (NDC) presidential candidate, also called for what he described as an urgent national reset, saying Nigeria’s substantial natural and human resources had not translated sufficiently into security, human development and shared prosperity.
In his Independence Day address, Obi highlighted poverty, insecurity, unemployment, hunger and displacement, citing a recent visit to an internally displaced persons’ camp in Sokoto State as an example of the challenges confronting Nigerians.
He said the country needed leadership that would make governance measurable, accountable and focused on the welfare and productivity of citizens.
“My message today is not one of despair. It is a message of hope, determination and responsibility,” Obi said.
The former Anambra governor said an administration under his leadership would prioritise security, education, healthcare and productive enterprise, while shifting Nigeria from what he described as a consumption-driven economy to a productive one.
He also pledged that, if elected president in 2027, he would spend his holidays in different parts of Nigeria rather than abroad.
“My holidays will be spent in Zamfara State; Borno State; Kwara State; Ebonyi State; Edo State; Ekiti State and other Nigerian States,” Obi said, adding that the visits would enable him to understand the challenges facing citizens across the country.
Both opposition figures therefore presented assessments of the economy that differed from Tinubu’s description of Nigeria’s transition from reforms to prosperity, with Atiku focusing on household purchasing power and economic costs, while Obi emphasised poverty, insecurity, human development and accountable governance.
