A fierce political confrontation has broken out between former Vice President Atiku Abubakar and President Bola Ahmed Tinubu, as the long-standing debate over privatisation resurfaces with renewed intensity.
In a strongly worded statement issued Friday in Abuja by his media aide, Phrank Shaibu, Atiku accused the President of distorting history and masking contradictions with rhetoric, describing Tinubu’s recent comments as a mix of “hypocrisy and historical amnesia.”
The statement portrayed the President’s remarks as politically motivated, insisting that Atiku’s economic reform record remains well documented and rooted in policy decisions taken during his time in office.
At the centre of the clash is Nigeria’s privatisation programme. Atiku’s camp argued that Tinubu’s criticisms are inconsistent with his own past positions, noting that the President had previously resisted reforms he now appears to champion.
According to the statement, Atiku had long advocated for the privatisation of the Nigerian National Petroleum Corporation and the concessioning of refineries to credible investors policies it said were ahead of their time.
However, the current administration was accused of pursuing similar reforms without sufficient transparency.
“This is not reform; it is privatisation without accountability,” the statement declared.
To support its claims, the response highlighted companies said to have thrived under the privatisation drive during Atiku’s tenure, including Oando Plc, Conoil Plc, Ardova Plc, Indorama Eleme Petrochemicals, Benue Cement Company, and Transcorp Hilton Abuja, describing them as evidence of successful efforts to revive state-owned enterprises and stimulate economic growth.
The statement also took a direct swipe at the President’s grasp of Nigeria’s economic history, referencing accounts such as The Accidental Public Servant by Nasir El-Rufai to argue that the privatisation programme was a structured and deliberate reform initiative.
It further criticised the tone of Tinubu’s earlier remarks, suggesting that resorting to ridicule reflects deeper leadership concerns.
“The President’s attempt to reduce a serious economic legacy to playground ridicule only underscores a deeper problem: a leadership more comfortable with insults than with facts,” the statement said.
Beyond the political exchange, Atiku’s camp painted a bleak picture of the country’s economic realities, citing rising inflation, declining purchasing power, business closures, and worsening insecurity.
It argued that policies presented as reforms have translated into widespread hardship, with many Nigerians struggling to cope with the cost of living.
Reaffirming confidence in Atiku’s track record, the statement maintained that his public service record remains transparent and defensible, while urging restraint in political discourse.
The statement ended with a pointed message: Nigerians, it said, are closely watching the unfolding political and economic developments.
