Atiku made the remarks in a statement issued by his spokesperson, Phrank Shaibu, amid fresh economic data from the National Bureau of Statistics (NBS).
“You cannot build a $1 trillion economy by making your own people poorer,” Atiku said. “That is not how prosperous nations are built. Nigeria must stop behaving like a loading bay for raw materials.”
The former vice president argued that although some macroeconomic indicators had improved, many Nigerians continued to face high living costs and reduced purchasing power.
His comments followed the release of the NBS August 2026 Consumer Price Index report, which showed headline inflation at 15.39 per cent. The NBS has published the August 2026 CPI report as the latest inflation release.
Atiku also highlighted a 106 per cent increase in Nigeria’s raw material exports, which rose from ₦1.86 trillion in the first half of 2025 to ₦3.84 trillion during the corresponding period of 2026.
He argued that the issue was not exporting commodities itself, but the continued export of raw materials without sufficient local processing and value addition.
“There is nothing wrong with exporting. The problem is exporting the cheapest part of the value chain and buying back the expensive part,” he said.
Atiku cited commodities including cocoa, hides, cotton and minerals, arguing that greater domestic processing could allow Nigeria to retain more value from its natural resources.
“When we export cocoa beans instead of cocoa butter, powder and chocolate, hides instead of leather products, cotton instead of garments and minerals without processing them, we are handing other countries the opportunity to make the real money from resources that came from Nigerian soil,” he said.
“That is not how prosperous nations are built. Nigeria must stop behaving like a loading bay for raw materials.”
Atiku further linked the structure of the economy to challenges facing local manufacturers and consumers, saying the reported increase in raw material exports should be accompanied by stronger domestic production and greater value addition.
He said Nigeria’s economic growth should ultimately be reflected in household incomes, business activity and the ability of citizens to afford goods and services.
The ADC candidate's comments form part of his broader criticism of the Tinubu administration's economic direction, while the government has continued to point to macroeconomic reforms and changes in key economic indicators as part of its policy agenda.
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