Embrace Argentina President Milei’s Economic Model for Recovery, Stop Blame Game — Atiku Advises Tinubu

Former Nigerian Vice President and 2023 Presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has advised Chief Bola Tinubu to adopt a reform-oriented strategy inspired by Argentina’s President, Javier Milei.

Abubakar, in a statement on X titled “Argentina’s Javier Milei approach to reforms should serve as a lesson for Tinubu,” pointed out stark differences in their responses to struggling economies inherited in 2023.

Atiku Advises Tinubu— Embrace Argentina President Milei's Economic Model for Recovery, Stop Blame Game
Photo Credit: BBC. Argentina’s President, Javier Milei.

He commended Milei’s “comprehensive stabilization plan,” emphasising reductions in government spending, attracting foreign investment, and streamlining processes. In contrast, he criticized Tinubu’s reforms as “ad hoc” and highlighted a tendency to “shift blame” to the opposition and his predecessor.

“Nigeria is where we are today simply because of what Tinubu has done or did not do,” Abubakar asserted, rejecting the president’s attempts to deflect responsibility. “Market forces don’t play politics. They respond to your actions and inactions.”

Highlighting Milei’s personal sacrifices, like flying economy class and refusing perks, Abubakar contrasted them with Tinubu’s perceived extravagance. He gave examples, criticizing Tinubu’s expansion of government ministries, lavish spending on renovations, and scapegoating tactics.

Abubakar articulated, “It is not business-as-usual for the presidency while the people are called upon to make sacrifices.”

“Argentina runs a lean government… Conversely, Tinubu… is spending enormous resources renovating houses,” he added.

He further criticized Tinubu’s reforms as “ill-advised” and lacking proper review, comparing them to Milei’s “sequenced” approach that anticipates challenges and implements mitigating measures.

In his statement, Abubakar concluded by promoting his own “Recover Nigeria Plan,” expressing a willingness to share details with the current government. The plan focuses on fiscal responsibility and improved spending efficiency, with proposals including a review of fiscal support for non-performing government enterprises and steps to gradually reduce government recurrent expenditures.

Abubakar stated,” We had outlined plans to relax the fiscal constraints facing us… including improving spending efficiency and blocking leakages. He offered proposed solutions, including, “a. A review of fiscal support for non-performing government enterprises and the privatization of those that cannot sustain themselves.

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” b. Steps to improve spending efficiency through a gradual reduction in government recurrent expenditures, ensuring that those expenditures reflect higher levels of service delivery. Over the medium term, recurrent expenditures should not exceed 45 percent of the budget.

“c. A review of government procurement processes to ensure high levels of transparency, competitiveness, and value-for-money and eliminate all leakages.”