In a sharp escalation of political rhetoric, President Bola Ahmed Tinubu has challenged the economic legacy of opposition leader Atiku Abubakar, specifically targeting his oversight of Nigeria’s privatization program during his tenure as Vice President and Chairman of the National Council on Privatization (NCP).
Addressing a delegation of “Renewed Hope Ambassadors” at the State House on Thursday, Tinubu used the platform to contrast his administration’s economic vision with the results of Atiku’s past leadership.
The Privatization Critique: Steel and Ajaokuta
Tinubu questioned the long-term viability of the state assets sold under Atiku’s watch, citing the Ajaokuta Steel Company and the broader steel sector as prime examples of failed private transfers. He argued that these projects failed to reach their potential after being handed over to private interests, leaving the country with stalled industrial progress.
“We must look at the results,” Tinubu remarked. “When you transfer public wealth to private hands without the necessary safeguards for national productivity, you get the stagnation we’ve seen in our steel industry for decades.”
The ADC Dispute: “Privatizing Another Man’s Party”
The President also delved into the internal crises currently rocking the African Democratic Congress (ADC). He alleged that Atiku had attempted to exert influence or control over the party but was rebuffed by its core leadership.
“They tried to privatise another man’s political party, but the owner said no,” Tinubu quipped, referring to the factional disputes that have plagued the ADC since mid-2025.
The ADC has been mired in legal battles for nearly a year, with multiple factions claiming authority over the party’s structure. Tinubu’s comments suggest that these internal fractures are being driven, at least in part, by external political maneuvering as the 2027 election cycle begins to take shape.
Atiku’s Response: “Lack of Transparency”
The Atiku camp was quick to fire back. Speaking through his media aide, Phrank Shaibu, the former Vice President dismissed the President’s allegations as “unfounded” and “distractions from current economic failures.”
Shaibu accused the Tinubu administration of hypocrisy, noting that the current government is pursuing its own privatization and concessioning plans—such as those involving national airports and energy infrastructure—while operating with what he termed a “lack of sufficient transparency.”
The 2027 Looming Shadow
With inflation still a pressing concern and the US-Iran-Israel war impacting global oil markets, political analysts view this exchange as the “opening bell” for the 2027 campaign.
- Tinubu’s Stance: He remains confident that opposition coalitions—even those involving the ADC or other third-party alliances—will not be able to dismantle the APC’s political machinery.
- Atiku’s Position: He continues to position himself as the architect of Nigeria’s modern economy, defending his privatization record as a necessary step toward liberalization that was sabotaged by subsequent administrations.
As the ADC remains deadlocked in court and the two political heavyweights trade barbs over the management of national assets, the debate over who is better equipped to manage Nigeria’s economic sovereignty is set to dominate the coming months.
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