By Eric Elezuo

Following widespread hunger and poverty that has reach all time high since the present administration of President Ba Tinubu took power in May 2023, former Vice-President, Alhaji Atiku Abubakar,  has categorically blamed the Tinubu-led government of weaponising poverty against Nigerians.

Explaining the ways and means the Tinubu administration has weaponised poverty against Nigerians during a public lecture to mark the 60th birthday anniversary of a former governor of Rivers State, who also served as a Minister of Transport in the Muhammadu Buhari government, Rotimi Amaechi, the former Vice president said the government has virtually turned most to beggars for its purpose. 

He noted that Kano State, which used to be a prosperous entity with little visible homelessness, has now started experiencing rise in street dwellers; a consequence of poverty-stricken standard of living occasioned by policy somersault and misappropriation of the current government. 

“I never saw people sleeping outside or outside the shops in Kano state, but recently, I noticed that people were all over the state sleeping under the bridge or on the streets. These people are driven out by poverty and insecurity.

“There is a state agency in Kano responsible for providing support to such people, and they started doing their work to enlighten people and remove people from under the bridges and outside on the streets.

“What happened? They were called to Abuja, and they were told to stop it. That is why I wanted to amend today’s topic to add state weaponisation of poverty.

“This particular government is weaponising poverty. You may call me a conspirator, you may call me anything.”

Abubakar said he is engaging in coalition talks to unseat Tinubu in 2027 to end the widespread poverty.

“And that is why we are in this alliance to make sure we don’t allow them to continue weaponising poverty. Of course, one of our star conspirators is Rotimi Amaechi,” he added.

“Therefore, we are here to wish you many happy returns. We will continue to conspire with you to make sure we minimise poverty and don’t use state machinery to weaponise poverty.”

Recall that few days earlier, the former Vice President had criticised the decision of the Tinubu-led administration to seek new external and domestic loans, describing the move as reckless and a threat to Nigeria’s economic future.

In a statement via X, Atiku said the proposed borrowing of $21.54 billion, €2.19 billion, and ¥15 billion — totaling over $24 billion — would dangerously increase the country’s debt profile, raising concerns about long-term sustainability.

“This borrowing spree will raise our total public debt from ₦144.7 trillion to a crushing ₦183 trillion,” Atiku stated, warning that the new loans represent more than 60% of Nigeria’s total foreign exchange reserves.

He noted that Nigeria’s debt burden has already reached alarming levels, with public debt standing at $94 billion (₦144.7 trillion) as of December 31, 2024.

Atiku further said, “Since President Tinubu assumed office in 2023, public debt has jumped by 65.6%. Under the APC-led administration since 2015, public debt has ballooned by 1,048%, from ₦12.6 trillion to ₦144.7 trillion.”

He decried the country’s debt-to-GDP ratio exceeding 50% and a debt-service-to-revenue ratio of over 130%, arguing that the government is spending more on repaying loans than it earns.

“This is not just unsustainable — it is immoral. The Tinubu administration is borrowing money not for development but to service existing loans, fueling a debt spiral that leaves nothing for infrastructure, education, healthcare, or jobs,” he said.

The former Vice President described the pattern of borrowing as a “Ponzi scheme,” warning that “Nigeria is now caught in a vicious cycle that mortgages the future to pay for the past.”

Calling the plan economic sabotage, Atiku urged immediate action to stop what he described as a looming catastrophe.

“We demand that this reckless borrowing plan be halted immediately. We call on lawmakers, civil society organisations, the media, and the international community to take urgent action to stop this looming catastrophe. Nigeria must not be sold into debt slavery,” he added.

Atiku’s fears have shared on many quarters even as Nigerians standard of living continues a downward plunge in the last two years since the advent of the Tinubu-led administration.

The former Vice president is proposing a coalition of political parties snd political bigwigs to see to the ouster of Tinubu and his team in the 2027 general elections.