Former Vice-President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has accused President Bola Tinubu’s administration of making production increasingly costly for Nigerian farmers and manufacturers.
Atiku made the accusation in a statement issued on Wednesday by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council.
He said farmers were grappling with insecurity while manufacturers faced rising production costs, adding that the country was also losing agricultural export earnings and opportunities to create jobs through local processing.
Atiku cited trade figures showing that Nigeria’s agricultural trade balance moved from a N740.27 billion surplus in the first half of 2025 to a N56.13 billion deficit in the corresponding period of 2026.
He described the N796.40 billion reversal as a major setback and said agricultural exports declined by 33.3 per cent during the period.
“The excuse that Nigerians simply imported too much will not stand. Tinubu’s government must answer for the collapse in what Nigeria sold to the world,” Atiku said.
He questioned the measures taken by the administration to improve farmers’ security, reduce the cost of transporting agricultural produce, lower the operating costs of processing plants and make Nigerian products more competitive in international markets.
“Farmers cannot cultivate promises. Manufacturers cannot power factories with speeches. Workers cannot feed their families on assurances that prosperity is coming,” he said.
Atiku also criticised Nigeria’s continued export of agricultural commodities in their raw form, citing cashew nuts in shell and cocoa beans among the country’s major agricultural exports.
He argued that Nigeria could retain more value and create more jobs by processing such commodities locally.
“We grow the crop. Someone else does more of the processing, builds a business around it and earns the larger return,” he said.
“Then Tinubu speaks of jobs while Nigerian factories struggle to compete. He has made production expensive and called the resulting hardship reform.”
While acknowledging that an agricultural trade deficit did not explain all the challenges facing farmers, Atiku said the administration should take responsibility for its economic decisions since assuming office.
“A trade deficit alone does not explain every problem on our farms. But after more than three years in office, the President owns the decisions that have left farmers exposed and producers burdened,” he said.
Atiku also defended his proposed production subsidy for petroleum products refined in Nigeria, saying it was aimed at retaining production, jobs and value within the country.
He said the proposed subsidy would apply to qualifying products from Nigerian refineries, including modular refineries, while imported products would not qualify.
According to him, the subsidy would be capped, provided for in the budget and independently audited, with mechanisms to determine whether the benefits reach consumers and businesses.
The former vice-president also criticised the Tinubu administration’s compressed natural gas initiative, arguing that the cost of vehicle conversion remained beyond the reach of many Nigerians and that conversion kits were difficult to access.
He added that buses presented as palliatives were still unavailable to many Nigerians who needed them.
“Local refining is about more than the price at the petrol pump. Aviation fuel affects fares. LPG affects the cost of cooking. Petroleum products and feedstocks affect industries and the people they employ,” Atiku said.
He said an ADC-led government would support farmers and processors while promoting local refining.
“Grow it here. Process it here. Refine it here. Create the jobs here. Make life affordable here,” he said.
Atiku accused the Tinubu administration of leaving Nigeria dependent on raw agricultural and crude oil exports while Nigerians continue to pay high prices for finished products.
“A government that cannot turn our resources into affordable products and decent jobs has failed the people it was elected to serve,” he said.
