Atiku Abubakar, the 2023 presidential candidate for the Peoples Democratic Party, has urged President Bola Tinubu to consider his strategic reform suggestions to revive Nigeria’s economy, advocating for gradual, well-planned changes in areas like fuel subsidy removal and foreign exchange rates.
While supporting key reforms such as subsidy removal and naira floating, Atiku criticized the Tinubu administration’s approach as “trial-and-error,” holding it responsible for the “excruciating pain” citizens are experiencing.
In a statement titled “What We Would Have Done Differently,” Abubakar highlighted his alternative strategy, which prioritizes detailed planning, institutional strengthening, and stakeholder consultation.
Drawing from his policy document, My Covenant with Nigerians, he emphasized the importance of phased reform to mitigate risks and minimize public hardship, pointing out that sudden economic shifts have led to price surges in essentials like food and fuel.
Atiku proposed a phased removal of the fuel subsidy and gradual privatization of refineries to reduce dependency on imports.
He also recommended a managed exchange rate system instead of a fully floating one, which he believes would better suit Nigeria’s economy.
Expressing disappointment over Nigeria’s low refining capacity, he advocated for a shift towards domestic refining and a strategic communication approach to foster public trust.
