2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative - Politics - Nairaland
Nairaland Forum › Nairaland General › Politics › 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative (465 Views)
| 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by Fyzt(op): 6:49pm On Aug 25 |
. 2027: Why Atiku Abubakar Offers Nigeria a Better Economic Alternative The Fuel Subsidy Question, the Cost of Living Crisis and the Road to Economic Recovery By Hon. Atinshola Oludare, PhD Nigeria is approaching another defining moment in its democratic history. As the country moves towards the 2027 presidential election, Nigerians must look beyond political propaganda, ethnic sentiments and party affiliations and ask a fundamental question: Who has the capacity, experience and economic vision to lead Nigeria out of its present difficulties and restore hope to the ordinary citizen? In my considered opinion, Alhaji Atiku Abubakar deserves serious consideration as the next President of the Federal Republic of Nigeria. This is not because Atiku is without imperfections. No Nigerian politician is. It is because Nigeria requires experienced leadership capable of understanding the relationship between government policy, private enterprise, employment, investment, inflation, public spending and the welfare of ordinary Nigerians. The 2027 election must therefore be about more than personalities. It must be about the economy and the future of the Nigerian people. The Fuel Subsidy Debate Few economic policies have generated as much controversy as the removal of the petrol subsidy in 2023. When the subsidy was removed, Nigerians were told that the policy would free enormous government resources, reduce waste, encourage investment and ultimately place the economy on a stronger footing. There is a legitimate economic argument behind subsidy reform. Nigeria had been spending enormous sums supporting petrol consumption while other critical sectors remained underfunded. However, the manner and consequences of the 2023 reform cannot be ignored. For millions of Nigerians, the immediate reality was not economic prosperity but economic pain. Petrol prices increased dramatically. Transportation fares rose. The cost of transporting food from farms to cities increased. Businesses faced higher operating costs. Electricity generation became more expensive for businesses and households that depended on generators. The prices of essential commodities increased, while salaries and household incomes struggled to keep pace. Recent reporting illustrates the scale of the problem. Reuters reported in August 2026 that Nigerians continue to face a severe cost-of-living crisis following the fuel subsidy removal, naira devaluation and other reforms. The report noted that petrol prices were several times higher than before the reforms and that the cost of basic food had risen substantially. This is the reality that cannot be dismissed by economic statistics alone. A country's economy may record improved foreign reserves, stronger investor confidence or better fiscal numbers, but economic reform ultimately has to improve the lives of citizens. The Poor Paid the Highest Price The most painful consequence of subsidy removal has been its effect on the poor and vulnerable. A wealthy household may be able to absorb a significant increase in transportation or food costs. A low-income worker cannot. A market woman travelling to buy goods has to pay more for transportation. A farmer has to pay more to move produce to the market. A student has to pay more to get to school. A small business owner has to spend more on transportation and electricity. A family that previously survived on a fixed monthly income suddenly discovers that the same income can no longer buy the same quantity of food. This is how inflation becomes more than an economic statistic. Inflation becomes hunger. It becomes school fees that parents cannot afford. It becomes rent that families struggle to pay. It becomes transportation that workers cannot afford. It becomes a family reducing the number of meals it eats in a day. It becomes a young graduate unable to find employment while watching the value of his or her savings disappear. That is why the 2027 government must learn from the experience of 2023. Subsidy Reform Should Not Mean Abandoning the Poor There is an important distinction between removing a wasteful subsidy and abandoning the people who depend on the subsidised commodity. Nigeria can reform its subsidy system without leaving millions of citizens helpless. The objective should be to move from a blanket subsidy that benefits rich and poor alike to a targeted system that protects vulnerable Nigerians. Instead of spending enormous sums keeping petrol artificially cheap for everyone, government can use part of the resources to support: - affordable mass transportation; - farmers and food producers; - public healthcare; - education; - direct social protection; - small businesses; - electricity infrastructure; - rural roads; - public housing initiatives; and - job creation. That is the kind of subsidy reform that can benefit the masses. The poor do not necessarily need cheap petrol alone. They need affordable transportation, affordable food, employment, electricity and an income that can sustain a family. What Atiku Can Do Differently Atiku Abubakar has a long record of advocating economic reforms, private-sector participation and greater investment in productive sectors of the economy. As a former Vice-President and businessman, he brings experience from both government and the private sector. That experience matters because Nigeria's problem is not simply that government lacks money. The problem is that the country has struggled to convert its enormous resources into sustainable prosperity for its citizens. An Atiku administration should therefore make economic productivity its central objective. The government should ask a simple question about every major economic policy: Will this policy increase the income and purchasing power of ordinary Nigerians? If the answer is no, the policy must be reviewed. The Lesson From 2023 The most important lesson from the 2023 subsidy removal is that economic reform without adequate social protection can create enormous hardship. The government has argued that subsidy removal created fiscal space and helped prevent a deeper economic crisis. In August 2026, the Federal Government said the removal generated ₦15.8 trillion in resources for the Federation between June 2023 and December 2025. But there is another side to the story. Nigerians want to know: Where did the savings go? How much reached the states and local governments? How much was invested in infrastructure? How much went into healthcare? How much went into transportation? How much was used to support poor families? These are legitimate questions. Indeed, the Finance Ministry has acknowledged that the reforms created hardship and that the next phase must focus more on translating macroeconomic gains into improvements in household welfare. This should be a central lesson for the next administration. Atiku Must Not Simply Repeat 2023 Supporting Atiku does not mean supporting every economic policy he may propose. If Atiku becomes president in 2027, he should not simply reverse every reform of the previous administration, nor should he blindly repeat the policies that caused hardship. He should study what worked, what failed and what produced unintended consequences. This is particularly important regarding fuel subsidy. Atiku has recently advocated a targeted subsidy approach, arguing that Nigerians have not sufficiently benefited from the removal of the subsidy. That position should evolve into a clear economic policy: protect the poor while preventing the return of the waste, opacity and corruption associated with the old subsidy regime. Nigeria needs neither permanent subsidy nor permanent suffering. We need reform with compassion. The Economy Must Produce Wealth The ultimate solution to Nigeria's economic problems is not cheap petrol. The ultimate solution is wealth creation. Nigeria must produce more. We must manufacture more. We must farm more. We must export more. We must generate more electricity. We must create millions of productive jobs. We must support small and medium-sized businesses. We must build infrastructure that lowers the cost of doing business. And we must create an environment where local and international investors can confidently invest for the long term. Atiku's private-sector background could be valuable in pursuing this agenda. The government should not attempt to do everything itself. Government should create the environment in which businesses can flourish, employ Nigerians and generate wealth. The Poor Need Jobs, Not Just Promises Nigeria's young population is both its greatest opportunity and its greatest responsibility. Millions of young Nigerians are educated, talented and ambitious, but many cannot find meaningful employment. A government that genuinely wants to reduce poverty must create an economy where young people can earn income. That means investing in technology, agriculture, manufacturing, construction, energy, transportation and other productive sectors. A young Nigerian with a good-paying job does not need to depend on government for petrol subsidy. A farmer with access to affordable inputs, electricity, roads and markets can withstand higher energy costs better than a farmer who has no income. A small business with reliable electricity does not have to spend a huge percentage of its revenue on diesel. Therefore, the best long-term subsidy is a productive economy. Why I Believe Atiku Is Better for 2027 I believe Atiku Abubakar is better positioned to lead Nigeria in 2027 because Nigeria needs a president who understands that government alone cannot create prosperity. We need a leader who understands the private sector. We need a leader who understands investment. We need a leader who appreciates the importance of fiscal responsibility. We need a leader who can engage the business community. We need a leader who can attract investment while protecting ordinary Nigerians. Most importantly, we need a leader who understands that economic reforms must have a human face. The Nigerian people should not be asked indefinitely to endure hardship today for an undefined prosperity tomorrow. The sacrifice must have a visible destination. If Nigerians are asked to make sacrifices, they must see roads being built, hospitals working, electricity improving, jobs being created and food becoming more affordable. 2027 Is About the Direction of Nigeria The 2027 presidential election should not be reduced to a contest between political parties. It should be a contest of ideas. Nigerians should ask every candidate: How will you reduce inflation? How will you reduce the cost of living? How will you create jobs? How will you make transportation affordable? How will you protect the poor? How will you reform the subsidy system? How will you reduce government waste? How will you support businesses? How will you make electricity available? How will you make Nigerian agriculture productive? And, above all, how will the ordinary Nigerian become economically better off? These are the questions that should determine our choice. Conclusion Nigeria cannot afford another four years of policies that increase the burden on ordinary citizens without sufficiently delivering visible benefits. The experience since 2023 has demonstrated both sides of economic reform. Subsidy removal can provide government with fiscal space and reduce distortions, but poorly managed reform can also impose severe hardship on citizens. Recent government figures point to substantial fiscal resources freed by the reform, while independent reporting shows that millions of Nigerians continue to struggle with the resulting cost-of-living pressures. The task before the next president is therefore to reconcile economic discipline with social justice. I believe Atiku Abubakar can provide that opportunity. But an Atiku presidency must not merely change the occupant of Aso Rock. It must change the economic experience of the Nigerian people. The poor must feel the difference. The worker must feel the difference. The farmer must feel the difference. The entrepreneur must feel the difference. The young graduate must feel the difference. And the Nigerian family must be able to look at its income at the end of every month and say: life is becoming better. That should be the real meaning of economic reform. That should be the promise of 2027. And that is why, in my view, Atiku Abubakar deserves the opportunity to lead Nigeria into a new economic chapter—one that combines fiscal responsibility with compassion, reform with protection, and economic growth with genuine improvement in the lives of the masses. Hon. Atinshola Oludare, PhD Public Affairs Commentator
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| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by givedemwotowoto: 6:55pm On Aug 25 |
I don’t like Atiku’s policy on subsidy restoration. As much as Tinubu’s government mismanaged subsidy savings, we need to keep subsidy removal, but decide how to invest the money directly on Nigerians. If you must take away my daily rations, replace it with a job, or a farmland where I can plant and feed myself. Tinubu took away our rations and left us to fend for ourselves. Peter Obi should provide employment opportunities and fishing tools for us to fish, feed and sell to the world. |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by HacheNoire: 7:06pm On Aug 25 |
If you have to compose an epistle to sell a candidate, then that candidate must be in the league of the worst sets. Atiku was a former vice president. He had a shot and opportunity to put himself in the good books of history and did not. Even his boss confessed about his penchant for money and power. Atiku was at the top of privatization and we all are witnesses of how it went. Epistles cannot redefine Atiku. Nigerians already know him from how he defined himself while in power. Atiku should reignite his love affair with Genevieve Nnaji and go enjoy the rest of his life in the Bahamas. Presidency is a mirage! |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by LordBiden(m): 7:08pm On Aug 25 |
givedemwotowoto:The best way to reinvest it is to return back subsidy, petrol is the lifeblood of the country. When petrol goes high every other thing skyrockets, subsidy is the only thing the common man enjoys. |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by givedemwotowoto: 7:10pm On Aug 25 |
LordBiden:I disagree. The best way to reinvest is to put the money back into the system, give the money back to the people and redistribute it so they can afford the cost of petrol. America and western countries run a system that gives you a job to make money but puts a lot of things in your face that pushes you to put the money back into the system and it keeps getting redistributed They keep you working hard so you don’t have time to cook so you go to the restaurant to eat. After months of working hard, you need a vacation. You buy a house to show you’re doing well and keep paying rent or mortgage. You make the money and give it back, and by the time you realize what’s happening, you’re old, and you retire and realize all you did that for was to keep the system running. |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by helinues: 7:18pm On Aug 25 |
Nigerians are saying Mbano to whatever Atiku is saying. Someone who almost sold all the Nigeria assets as VP, if he becomes president, na to auction Nigerians to the Chinese |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by chiiraq802(m): 7:57pm On Aug 25 |
😂 |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by GodPunishOsu: 8:16pm On Aug 25 |
Never knew phD holder can also be illiterate. |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by Sheuns(m): 8:20pm On Aug 25 |
givedemwotowoto:The truth remains that there’s no genuine or certain way to invest in the people than find something that controls the entire economy. Sadly, it’s petrol in our case here. Had past governments including the present fixed electricity supply and provide 24/7 power, there won’t be much need for petrol use. Some people are against subsidy on petrol but they want subsidy on CNG, diesel and transports. Isn’t that double standards? Those that looked at the situation of Nigeria and decided to subsidy petrol saw the effects expensive petrol would have on a country where over 50% have always been poor. Tinubu administration is not responsible and not doing anything to lift people out of poverty, that’s why some prefer subsidy be returned since we can’t point to what Tinubu has done with the so called “savings”. |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by Sheuns(m): 8:24pm On Aug 25 |
givedemwotowoto:Give the money to which people? Isn’t Tinubu saying he’s giving governors more money? What are they doing with it? USA actually subsidizes agricultural produce for its citizens. You can Google how much the US spends annually on agricultural subsidies. (What Atiku is proposing is similar to the US agricultural subsidies where farmers get those subsidies directly from the US government) what matters is follow through and ensure that those subsidies do what the government actually intends them to do. Subsidy is not bad as our politicians here have painted it. They just hate the poor and love to see people suffer. |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by Heffalump(m): 8:35pm On Aug 25 |
Fyzt:Atiku has a lot of stolen money to splash on online propaganda machine. Nigerians have made their mind already. Obi/Kwankwaso or nothing. Infact, instead of Atiku Tinubu will continue. Can anything good come out of the North for now? |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by givedemwotowoto: 8:42pm On Aug 25 |
Sheuns:U.S. subsidizes production, not consumption, and that’s what I am proposing. We should never bring petrol subsidy back, rather put the money into funding production and job creation. When I publish my full proposal, we can argue based on that. |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by givedemwotowoto: 8:50pm On Aug 25 |
Sheuns:Giving the money to governors is not a plan, it’s a horrible way to handle savings from petrol subsidy. Even an average Tom Dick and Harry on the streets knows that if you go to the bank to seek a business loan, you must have a proposal. They won’t just hand you millions of naira without knowing how you have planned to make good use of the money. So if banks know this, why won’t a President know this, even with all the special advisers and heavily paid assistants around him? So when someone tells me they handed money to governors, that person is already a failed leader. |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by SixSeven: 9:03pm On Aug 25 |
I don't want anyone, whether na aide, commentator or spokesman to speak on behalf of anyone else. Let who wants to serve us come and explain to us the how and why. Let the man speak for himself. I no longer believe any aide or spokesman. Very dangerous. APC promised $1 to 1 Naira. Later, Femi Adesina denied it. Make una wise up. We are supposed to be having 1 debate per month before January but our media are very very very complicit in this nonsense by indulging these candidates and letting them send aides to speak to you. Don't you see how foolish it is Nigerian media? If they won't come and speak for themselves now, they will never honor you when they get to office? Buhari already showed that. https://www.youtube.com/watch?v=ShC6vIll1-U https://www.youtube.com/watch?v=0HfwDLpav0s Now you want to tell us the benefit of what the person who wants our votes has not told us himself. E be like say una never get sense for this country. I'm not wasting my time on any analysis whether it's from Atiku, Tinubu, Sowore or Obi. Let them all come and defend themselves, sell to us and we buy. Stop encouraging them to be lazy. |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by ogolemati: 9:14pm On Aug 25 |
HacheNoire: just like writing epistle to show us agbero chairman is working apart from refilling his bullion vans.instead of Atiku let agbero chairman continue biko I want dollar at 3500
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| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by HacheNoire: 9:17pm On Aug 25 |
ogolemati:You can say that again! Doesn’t change facts I put down |
| Re: 2027: Why Atiku Abubakar Offers Nigeria A Better Economic Alternative by ogolemati: 9:22pm On Aug 25 |
HacheNoire: yeah hope you didn't fight any motorist today at busstop
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