ABUJA, Nigeria — A media support group aligned with the Nigerian presidency has hit back at former Vice-President Atiku Abubakar, claiming he has no moral standing to criticise the country’s current economic trajectory after previously backing a disastrous economic model for Argentina.
The Tinubu Media Support Group (TMSG) issued a blistering statement on Saturday defending President Bola Tinubu’s sweeping market reforms, which have come under heavy fire from opposition figures as inflation continues to squeeze household incomes.
In the joint statement, signed by TMSG Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, the group argued that the opposition leader’s criticisms are driven by a desperate bid to gain political traction ahead of future electoral cycles.
The ‘Argentina Model’ Backlash
The presidency’s defenders pointed out a glaring contradiction in the former Vice-President’s economic policy stance, recalling his public endorsements of foreign austerity measures.
“We recall that in February 2024, Alhaji Atiku Abubakar argued that the Argentine model of economic reforms was better for Nigeria,” the TMSG stated. “He claimed at the time that what President Javier Milei was doing was similar to his plan to rescue Nigeria.”
The group noted that while Argentina’s volatile economy has since forced it to become the largest debtor to the International Monetary Fund (IMF), requiring a massive $20bn (£16bn) bailout, Nigeria has avoided any debt obligations to the fund.
Global Endorsements vs Local Pain
The TMSG argued that global financial institutions have repeatedly validated President Tinubu’s controversial policies—including the removal of the petrol subsidy and the unification of the exchange rate.
They highlighted recent praise from the World Bank’s Managing Director of Operations, Anna Bjerde, who reportedly described Nigeria as a “global case study example of a steady, credible reform leadership model,” while praising the administration’s consistency over its first two years in office.
According to the group, these reforms have successfully:
- Restored macroeconomic stability after years of costly distortions.
- Boosted international investor confidence across key sectors.
- Pushed foreign reserves to a 13-year high.
Palliatives for the Poorest
The TMSG also accused Atiku of hypocritically “weaponising” the IMF’s recent warning that Nigerians face exceptionally tough near-term conditions due to soaring food and transport costs, despite having campaigned on the same reform promises during the 2023 elections.
The group dismissed claims by opposition parties that families are being forced to pull children out of school because of extreme hardship, insisting that the government is rolling out aggressive safety nets to cushion the blow.
The statement highlighted the launch of a new Grant for Vulnerable Groups (GVG) under the National Social Investment Programme Agency. The initiative aims to provide direct cash transfers and business starter kits to the poorest households across all 774 local government areas to help families transition toward self-reliance.
Reaffirming that the “worst days are over,” the presidency’s media arm urged citizens to ignore the “jaundiced posturing” of the opposition and maintain faith in the long-term gains of the current administration.
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