Former Nigerian Vice President Atiku Abubakar has strongly criticised President Bola Tinubu’s economic approach and has called for a shift towards the reform-oriented strategy employed by Argentina’s new leader, Javier Milei.
In a statement titled “Argentina’s Javier Milei approach to reforms should serve as a lesson for Tinubu,” Abubakar, the 2023 presidential candidate of the Peoples Democratic Party (PDP), highlighted the contrasting responses of both leaders to their struggling economies in 2023.
Abubakar praised Milei’s “comprehensive stabilization plan,” emphasizing the focus on reducing government spending, attracting foreign investment, and streamlining processes.
In contrast, he criticized Tinubu’s “ad hoc” reforms and tendency to “shift blame” onto the opposition and his predecessor.
“Nigeria is where we are today simply because of what Tinubu has done or did not do,” Abubakar asserted, rejecting the president’s attempts to deflect responsibility. “Market forces don’t play politics. They respond to your actions and inactions.”
Abubakar specifically criticized Tinubu’s expansion of government ministries, lavish spending on renovations, and scapegoating tactics.
He contrasted this with Milei’s personal sacrifices, such as flying economy class and refusing perks, as evidence of a stark contrast to Tinubu’s perceived extravagance.
“It is not business-as-usual for the presidency while the people are called upon to make sacrifices,” Abubakar declared. “Argentina runs a lean government… Conversely, Tinubu… is spending enormous resources renovating houses.”
He further criticized Tinubu’s reforms as “ill-advised” and lacking proper review, highlighting Milei’s “sequenced” approach that anticipates potential challenges and implements mitigating measures.
Abubakar concluded by promoting his own “Recover Nigeria Plan,” which he claims shares similarities with Milei’s approach.
He expressed willingness to share the plan’s details with the current government, emphasising its focus on fiscal responsibility and improved spending efficiency.
“We had outlined plans to relax the fiscal constraints facing us… including improving spending efficiency and blocking leakages,” he stated, offering proposed solutions to Nigeria’s economic woes, including a review of fiscal support for non-performing government enterprises and the privatization of those that cannot sustain themselves, steps to improve spending efficiency, and a review of government procurement processes to ensure transparency and value-for-money.
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