By Mike Odiakose, Abuja

Former Vice President Atiku Abubakar has declared that he would have done far better than President Bola Tinubu if he had been the president.

Atiku made the declaration in Abuja on Sunday as Nigerians continue to struggle with economic hardship occasioned by a slew of reforms being implemented by the Tinubu administration.

In a statement he personally signed, the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election said he would have done things differently if he were the president.

He listed a number of alternative policy choices that could have eased the impact of the crushing economic hardship on Nigerians.

Some of his suggested economic policy strategies include careful planning, phased reform, and empathy in governance to alleviate the burden on Nigerians.

Key among his recommendations includes a phased approach to fiscal and monetary reforms, avoiding sudden policy shifts that can shock the economy.

He stressed the need for transparent communication to build public trust, and proactive support for vulnerable populations through robust social protection.

He proposed the strengthening of public institutions, creating a $10 billion Economic Stimulus Fund to boost small businesses, and forming a $25bn fund dedicated to infrastructure development.

On subsidy removal, Atiku said he would have opted for a gradual phase-out, combined with domestic investment in refining to reduce fuel import dependency.

Savings from subsidy removal, he said, would be invested in education, healthcare, and rural infrastructure and building a foundation for youth employment and growth.

The Wazirin Adamawa slammed the Tinubu administration for lack of consultations with stakeholders before rolling out its social and economic policies.

Atiku said, “Reform efforts should have stemmed from thorough assessments and consultations with key stakeholders. By understanding Nigeria’s unique economic landscape, we could have crafted policies with a clear vision for economic stability and growth.

“Economic adjustments, like determining exchange rates and fuel pricing, require a measured approach. Releasing multiple policy shifts simultaneously could cause undue strain on citizens and businesses. Sequencing reforms would allow for a gradual adaptation to new policies while minimizing economic shocks.

“Effective governance demands the ability to adapt and reassess policies. A strategic approach to economic adjustments would include monitoring and addressing unintended consequences, recognising that some reforms might need reevaluation as they progress”.

According to him, there is a disconnect between the administration and Nigerians arising from lack of transparency in policies, a situation he said has eroded public trust in the government.

Continuing, Atiku said, “Public trust is essential, especially during times of reform. Communicating policies clearly and respectfully fosters understanding and cooperation. Transparency in these areas would empower citizens with knowledge about the government’s intentions and progress.

“Reform policies should consider the immediate needs of the less privileged. Instead of stop-gap measures, a robust social protection program would provide meaningful support to the poor and vulnerable, helping them navigate economic changes with greater security and stability.

“Fiscal reforms should emphasise efficient public financial management. Reviewing state-owned enterprise funding and streamlining procurement processes could promote fiscal transparency and reduce leakage.

“To amplify the impact of reforms, the public sector requires substantial transformation. This includes prioritizing security improvements with a focus on reforming security institutions through enhanced funding, welfare initiatives, and alternative conflict resolution strategies.

“Fiscal reforms should emphasise efficient public financial management. Reviewing state-owned enterprise funding and streamlining procurement processes could promote fiscal transparency and reduce leakage”.

Atiku called for the restructuring of the Nigerian National Petroleum Corporation (NNPC) and a crackdown on rent-seeking practices to prevent potential loopholes in the system.

He recommended the privatisation of the existing four state-owned refineries to boost domestic refining and reduce dependency on imports.