Former Vice President Atiku Abubakar has expressed grave concern over a World Bank report indicating that poverty is rising sharply in Nigeria under the administration of President Bola Ahmed Tinubu.

Atiku said the report confirms what millions of Nigerians are already experiencing daily, noting that “over 60 per cent of Nigerians now live below the poverty line, up from about 40 per cent just a few years ago. This is not reform—it is regression on a monumental scale.”

In a statement issued on Friday in Abuja by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku argued that the crisis is neither accidental nor unavoidable.

“It is the direct outcome of poorly conceived and harshly implemented policies—from the abrupt removal of fuel subsidies to the chaotic devaluation of the naira—executed without adequate safeguards for the Nigerian people.

“The consequences of these trial-and-error policies are visible everywhere: food prices have spiralled out of control, inflation has eroded incomes, small businesses are collapsing, and millions more Nigerians are being pushed into extreme poverty.

“While the Tinubu administration points to abstract macroeconomic indicators, Nigerians are living a far harsher reality—defined by hunger, uncertainty, and a daily struggle for survival. This is not reform; it is economic shock therapy imposed on a vulnerable population.”

He further criticised the government’s response to economic challenges, saying:
“A government that blames others while failing to shield its citizens from the shocks of a global trade war only exposes its own incompetence.”

The statement added that the World Bank had highlighted the paradox of rising poverty amid ongoing reforms, suggesting a disconnect between government policy and citizens’ lived realities.

“A government that presides over a situation where the majority of its people are poor, yet insists that progress is being made, has lost both moral authority and economic direction,” he said.

Meanwhile, Atiku outlined what he described as a credible alternative approach grounded in experience, pragmatism, and compassion.

He said reforms must be carefully sequenced rather than hastily implemented, while social protection programmes should be real, targeted, and transparent.

According to him, economic policies must prioritise job creation, food security, and income growth.

The former Vice President added that his approach focuses on boosting productivity through support for small businesses, agriculture, and industry, alongside better coordination of fiscal and monetary policies to stabilise the economy and restore investor confidence.

“The position is straightforward: economic reform must improve lives, not punish them,” he said.

Atiku warned that Nigeria cannot continue on a path where poverty deepens while government celebrates policy experiments.

“Leadership is not about defending failure—it is about correcting it. The evidence is already clear in the lives of Nigerians.

“The choice before the nation is stark: continue on a trajectory of deepening hardship or embrace leadership committed to restoring dignity, stability, and shared prosperity. Nigeria deserves better.”