President Bola Tinubu has launched a sharp political attack against former Vice President Atiku Abubakar, accusing him of failing to settle pension liabilities resulting from the privatization of state-owned enterprises during his tenure as head of the National Council on Privatisation. Speaking in Abuja during a meeting with members of the Nigerian Diaspora Medical Association and Northeast political stakeholders, President Tinubu stated that his administration is currently clearing the inherited pension backlog to restore social welfare and financial stability to affected citizens.
Reflecting on his administration's economic direction, President Tinubu noted that ordinary Nigerians are seeking basic economic stability and improved social welfare rather than empty political promises. In a direct reference to Atiku Abubakar, who chaired the National Council on Privatisation between 1999 and 2007 under the administration of former President Olusegun Obasanjo, President Tinubu criticized past leadership for privatizing government investments in public entities while leaving thousands of former public sector workers without their entitled severance and pension packages. The President emphasized that his government is actively working to resolve these long-standing financial liabilities and clear up the institutional mess left behind by previous decisions.
The historical privatization drive led by the National Council on Privatisation during the Obasanjo presidency involved the commercialization, sale, or liquidation of more than one hundred government-owned enterprises, including major state assets such as Nigeria Airways and the Nigerian Telecommunications Limited. While the program was intended to reduce government expenditure and attract private investment, the exercise resulted in the disengagement of tens of thousands of workers across various sectors. For years, many of these former employees struggled to receive their full terminal benefits and pension entitlements, turning the unpaid claims into major liabilities inherited by successive federal administrations.
In addition to addressing economic policy and political rivalries, President Tinubu spoke about his early professional career and his reasons for returning to Nigeria after receiving professional training in the United States. Recalling his background in accountancy and finance with Deloitte & Touche in Chicago, the President expressed his belief that there is no place like home, explaining that he chose to bring his professional experience back to Nigeria to contribute to national development. Turning to regional security, President Tinubu called for unity and collaboration among leaders from the Northeast, highlighting the shared responsibility required to tackle terrorism, banditry, and economic disruption in the region.
The President's comments come amid an escalating political dispute between the White House and the camp of Atiku Abubakar concerning decades-old civil forfeiture records from the United States. The opposition camp recently renewed public calls for transparency regarding the 1993 court filings, with Atiku's Special Adviser on Public Communication, Phrank Shaibu, challenging the Presidency to publish official evidence rather than relying on public statements. Shaibu publicly addressed presidential spokesman Bayo Onanuga, asserting that the debate requires documentary proof rather than rhetoric.
The exchange followed statements from Bayo Onanuga accusing Atiku of spending significant financial resources on American lobbying firms to revive a court matter that the Presidency maintains was legally resolved over thirty years ago. Onanuga criticized the opposition's outreach to members of the United States Congress, describing it as an effort to internationalize domestic politics. Despite the renewed political friction, the Presidency maintains that President Tinubu remains focused on executing his economic agenda, clearing inherited liabilities, and stabilizing the national economy.
