Nigeria: Tinubu Exporting Wealth, Importing Hardship - Atiku

What the report says

Former Nigerian Vice-President Atiku Abubakar has criticized President Bola Tinubu’s economic direction, arguing that the country is exporting too many raw materials while ordinary Nigerians face rising living costs and weakened purchasing power. The comments were issued in a statement released through Atiku’s Senior Special Assistant on Public Communication, Phrank Shaibu, and were carried by Daily Trust via AllAfrica. The remarks focus on the gap between official trade performance and the difficulties facing households and manufacturers.

According to the report, Atiku said Nigeria’s export pattern allows other countries to capture more value from commodities such as cocoa, leather, cotton and minerals after they leave the country unprocessed. He linked this to what he described as pressure on factories and consumers at home, saying manufacturers are dealing with unsold goods while families are struggling to afford basic products. The article says he cited a large volume of unsold manufactured goods as evidence of weak demand and high production costs.

Atiku also pointed to higher fuel, electricity, transport and credit costs, along with a weaker naira, as factors making production more expensive and reducing consumer spending. He argued that a trade surplus alone is not enough if Nigeria continues to export mainly raw inputs rather than finished goods. He used the statement to promote his own economic recovery ideas, including more support for local manufacturing, agro-processing and financing for small businesses and start-ups.

The broader context is Nigeria’s long-running debate over industrialization, value addition and dependence on commodities, an issue that has repeatedly featured in policy discussions across different administrations.