Atiku Accuses Tinubu of Shipping Nigeria's Wealth Abroad as Raw Materials

• Former Vice President Atiku Abubakar attacked President Tinubu's economic direction, citing a sharp rise in raw material exports alongside growing unsold stock worth trillions
• Nigeria's raw material exports jumped 106% from ₦1.86 trillion in H1 2025 to ₦3.84 trillion in H1 2026, while unsold manufactured goods climbed to about ₦2.14 trillion
• Atiku's camp said the figures point to a collapse in purchasing power, with Nigerian families unable to afford locally produced goods despite full factory shelves

Legit.ng journalist Adekunle Dada has over eight years of experience covering metro, government policy, and international

FCT, Abuja - The African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has accused President Bola Tinubu's government of hollowing out the Nigerian economy by exporting raw materials at

Former Vice President said ordinary Nigerian citizens lose the ability to buy basic goods at home.

Atiku's Senior Special Assistant on Public Communication, Phrank Shaibu, made this known in a statement issued and made available to Legit.ng on Tuesday, September 15, 2026.

Atiku Abubakar, who is the presidential candidate of the African Democratic Congress and a former Vice President of Nigeria from 1999 to 2007.

Nigeria's raw material exports more than doubled over one year, rising 106 per cent from ₦1.86 trillion in the first half of 2025 to ₦3.84 trillion in the first half of 2026.

At the same time, unsold manufactured goods climbed to roughly ₦2.14 trillion, a figure Atiku described as evidence of collapsing consumer demand.

"The ships are leaving our ports full, but the pockets of Nigerians are empty," Atiku said. "Government celebrates exports and trade surpluses while families are cutting meals, businesses are counting unsold stock, and manufacturers are struggling to keep their gates open."

Nigeria exporting potential, not prosperity.

Atiku argued the core problem is not exporting as such, but exporting at the lowest point of the production chain.

He said Nigeria sends out cocoa beans rather than chocolate, hides rather than leather goods, and cotton rather than garments, allowing other countries to capture most of the value from resources mined or grown on Nigerian soil.

"That is not how prosperous nations are built. Nigeria must stop behaving like a loading bay for raw materials," he said.

He also blamed higher fuel costs, rising electricity tariffs, expensive credit and a weaker naira for squeezing manufacturers and consumers simultaneously, leaving factory shelves full while household budgets run dry.

Atiku's proposed alternative

Atiku said his Economic Recovery Plan would lower production costs through affordable long-term finance, industrial clusters, agro-processing and mineral processing support.

He also outlined a production-linked fuel subsidy that would apply only to petroleum products refined inside Nigeria, tied to verified output, domestic supply and a measurable benefit to consumers.

"No production, no subsidy. No domestic supply, no subsidy. No measurable benefit to Nigerians, no subsidy."

A proposed $10 billion financing programme targeting young entrepreneurs and start-ups would support businesses across agriculture, manufacturing, processing, packaging, logistics and technology, he added.

"When we process more of what we produce, manufacture more of what we consume and export more finished Nigerian goods, we earn more foreign exchange, reduce pressure on the dollar and strengthen the naira from the productive side of the economy," Atiku said.

He closed with a direct contrast to the current administration: "Tinubu made Nigeria expensive. Atiku will make Nigeria affordable again."

Atiku reacts as petrol hits ₦1,470 per litre

Meanwhile, Legit.ng also reported that Atiku accused the Tinubu administration of failing to account for Federation Account deductions and oil revenues since 2023.

The former vice president pointed to June 2025 FAAC figures showing ₦4.232 trillion in gross revenue against ₦1.818 trillion distributed.

Atiku compared current fuel prices to the Yar'Adua era, when petrol sold at ₦65 per litre even as crude oil traded near $147 per barrel.