The Transformative Governance Forum (TGF) has strongly criticised former Vice President Atiku Abubakar over his recent comments on Nigeria’s privatisation programme, describing his remarks as misleading and dismissive of the challenges associated with past economic reforms.
In a statement issued on Friday, the group accused Atiku—who chaired the National Council on Privatisation during the administration of former President Olusegun Obasanjo—of attempting to defend a policy era it claims led to the decline of several key national industries.
The forum was reacting to Atiku’s remarks in which he reportedly criticised President Bola Ahmed Tinubu, questioning his understanding of privatisation policy.
TGF, however, said the former vice president’s defence of the programme overlooked what it described as the “underperformance or collapse” of several privatised national assets, including major enterprises in the steel, telecommunications, aviation, and power sectors.
Among the entities referenced were the Ajaokuta Steel Company, the Nigerian Telecommunications Limited (NITEL), the Aluminium Smelter Company of Nigeria (ALSCON), and the defunct Nigeria Airways. The group argued that many of these organisations have either remained non-operational or failed to meet expectations years after privatisation.
The statement also raised concerns about the impact of the reforms on employment and industrial capacity, noting that thousands of workers were displaced during the transition period. It further questioned the transparency of the process, alleging that some assets were transferred to investors without adequate technical or financial capacity.
On the power sector, TGF acknowledged ongoing challenges since the unbundling of the Power Holding Company of Nigeria (PHCN), stating that stable electricity supply remains an issue despite reforms introduced over the years.
Defending the current administration, the forum said President Tinubu’s economic policies under the Renewed Hope Agenda are focused on social welfare, infrastructure development, and long-term economic stability.
“The success of any reform should be measured by its impact on citizens’ lives, job creation, and sustainable industrial growth,” the statement noted.
TGF concluded by calling for greater accountability and transparency in evaluating past economic policies, urging political leaders to focus on constructive dialogue rather than personal attacks.
The former vice president has yet to issue a response to the forum’s latest claims.
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