Atiku Slams FG Borrowing, Says Nigeria Near Economic Collapse
Nigeria has been pushed to the brink of economic collapse by reckless borrowing under President Bola Tinubu’s administration, former Vice President Atiku Abubakar has said in his New Year message to Nigerians.
Atiku, in a post on his official X account to mark the beginning of 2026, described 2025 as one of the most punishing years in the country’s recent history, marked by economic hardship, poor governance and lack of empathy.
“Dear Fellow Nigerians, I extend my compliments of the season as we welcome the New Year, 2026.
“For millions of long-suffering Nigerians, the only consolation is that 2025, one of the most punishing years in our recent history, has come to an end.”
He said the year was defined by “economic suffocation, political recklessness, and governance without empathy” under the All Progressives Congress administration.
The former vice president accused the Tinubu-led government of incompetence and policy failure, saying it governed for months without a functional budget while relying on propaganda and excessive borrowing.
“The past year exposed, in stark terms, the incompetence and policy bankruptcy of President Bola Tinubu.
“Governing for months without a functional budget, the administration relied on propaganda while borrowing recklessly, pushing the nation to the brink of economic collapse.”
Atiku also criticised what he described as a scandal involving a forged tax law, which he said was wrongly branded as a reform.
“Nothing better captures the decay of this government than the scandal of a forged tax law, shamelessly branded a ‘reform.
“Even more disturbing was the President’s refusal to allow due legislative and legal processes to address what is clearly a criminal act.”
According to him, any government that begins reform with forgery cannot end with prosperity.
He further alleged that Nigeria’s democratic foundations were deliberately weakened in 2025, accusing the APC of working to turn the country into a de facto one-party state through coercion, intimidation and state capture.
Atiku also faulted the Federal Government for claiming to have met revenue targets while, according to him, plunging the nation deeper into debt.
On security, he said killings, terrorism, banditry and kidnappings worsened significantly across the country.
“Meanwhile, insecurity worsened dramatically. Kidnappings, abductions, and violent crimes surged, affecting citizens young and old alike.
“Lives were lost, livelihoods destroyed, and communities terrorized, while government assurances rang hollow.”
The former vice president said despite repeated talks of economic recovery by the administration, unemployment, underemployment, labour unrest and the collapse of small businesses defined the year.
He said industries shut down, workers lost their jobs, hunger spread and suffering became normalised among citizens.
Atiku noted that Nigeria survived the year not because of government competence but due to the resilience of its people, despite what he described as poor appointments of unfit individuals to represent the country abroad.
He described the message as one of the most painful New Year statements he has written, citing the level of despair caused by what he called the “callous and soulless policies” of the Tinubu-led APC government.
Atiku also criticised calls on Nigerians to continue making sacrifices, saying such demands were cruel when made by leaders who live extravagantly.
“Sacrifice is patriotic—but it becomes cruel when demanded by leaders who live extravagantly, insulated from the suffering of the people,” he said.
He added that leadership without shared pain amounts to exploitation, especially as small businesses collapse and workers lose their jobs.
“Yet those in power prioritize comfort over conscience. This contradicts every principle of democratic governance.”
He further accused the administration of arrogance, contempt for public opinion and hostility to criticism.
“The arrogance of this administration is unprecedented. Its contempt for public opinion, its hostility to criticism, and its willingness to punish Nigerians through bad policies reveal a government fundamentally hostile to the people.
“Never in our recent history have we seen an administration so openly dismissive of public sentiment, so casual in breaking laws, and so reckless with democratic norms.”
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
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