TMSG Counters Atiku, Says Tinubu’s Borrowing Strategy Targets Growth, Tax Reforms Offer Relief
Oru Leonard
The Tinubu Media Support Group (TMSG) has rejected claims by former Vice President Atiku Abubakar that the Federal Government is relying on excessive borrowing, importation and taxation, insisting that President Bola Tinubu’s economic policies are focused on growth and are already delivering measurable results.
In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the group described Atiku’s criticism as misleading, arguing that available economic data do not support his assertions.
The group was reacting to a recent statement by the African Democratic Congress (ADC) presidential candidate, who said Nigeria could not “borrow, import and tax its way to prosperity,” suggesting that the Tinubu administration had embraced excessive borrowing, food importation and taxation.
According to TMSG, Atiku based his argument on the latest inflation figures released by the National Bureau of Statistics (NBS) but ignored key indicators showing an improvement in inflation trends.
The group noted that while food inflation experienced a slight increase in June 2026, the year-on-year figure of 17.52 per cent represented a significant improvement compared to 25.41 per cent recorded in June 2025.
TMSG also defended the Federal Government’s temporary food import waivers, saying the policy contributed to easing food inflation rather than worsening it.
It further argued that attributing the recent rise in food prices solely to government policies overlooked the impact of the Middle East conflict, which triggered higher global fuel and transportation costs and consequently affected food prices.
The statement maintained that Nigeria’s inflation rate had been on a downward trend from the last quarter of 2025 until the geopolitical crisis disrupted global markets.
On taxation, the group dismissed Atiku’s allegation of excessive tax burden, pointing to recent tax reforms introduced under the Nigeria Tax Act (NTA).
According to TMSG, the reforms provide substantial relief for small businesses, including zero per cent Companies Income Tax, zero per cent Capital Gains Tax, exemption from the four per cent Development Levy and the removal of mandatory withholding tax deductions on qualifying small business transactions.
The group added that individuals earning up to ₦1.2 million annually are now exempt from personal income tax, describing the reforms as among the most comprehensive tax relief measures introduced in recent years.
TMSG concluded by urging Nigerians to view Atiku’s criticisms as politically motivated rather than being driven by national interest, insisting that the Tinubu administration’s borrowing strategy and fiscal reforms are designed to stimulate economic growth and improve the welfare of citizens.
