“Flawed Lens” – Top Presidential Aide Tells Why Atiku’s Argentina Better Than Nigeria Claims Are Wrong

Former Vice President, Atiku Abubakar’s claims that Argentina is doing better than Nigeria have been invalidated.

Atiku on Sunday, February 25, 2024, presented a series of claims on social media posturing President Javier Milei of doing a great job that has transformed Argentina into what President Bola Ahmed Tinubu to learn from in making Nigeria a better place.

The candidate of the People’s Democratic Party in the 2023 Presidential election premised his position on a report in Reuters titled: Argentina’s market double down on Milei as investors ‘start to believe’.

Atiku’s position has, however, been thoroughly punctured – with verifiable details.

The Senior Special Assistant to the President on Digital Communications, Otega Ogra responded Atiku’s claims the same day with a narrative that tells the other side of the former Vice President’s assertions.

Ogra wrote…

Respectfully, VP Atiku (1999 – 2007) sir, I come again.

I would like to start by first saying – respectfully, that Nigeria is not Argentina, and President Tinubu is not the President of Argentina.

To those who may be enchanted, just like our former VP, by the ‘Argentina Miracle’ he quoted, see below the January data of the situation Alh. Atiku praised and says he would have put on Nigerians – had he been 7th time lucky at his shot at the presidency which wasn’t successful.

I therefore advise a closer look at the data—lest we forget that even a broken clock is right twice a day:

– Argentine Inflation Rates: Jumped to 254% in January 2024 – the highest level since 1990. 

 – Industrial and construction output in Argentina dropped by 12.8% and 12.2% year-on-year in December, respectively.

  – Economic activity in Argentina fell 2.5% year on year according to a Reuters survey.

  – Car registrations in Argentina declined by 33% year-on-year in January.

  – Retail sales in Argentina fell by 25.5% year-on-year in January.

  – Construction activity in Argentina  decreased by 28.2% in January.

  – Cement deliveries and motorcycle registrations also saw significant declines.

– Halting all public works, freezing public sector salaries and pensions, and eliminating many public subsidies, including for energy and public transportation.

– Tax Increases: Sharp rise in taxes, including import taxes.

– Real Salary Collapse: The real salary of registered private-sector workers in Argentina experienced the largest monthly drop in at least 30 years, with January’s real salaries potentially falling below the levels of the 2001 crisis

  – National taxes linked to economic activity across Argentina fell between 15% and 25% annually on a real basis.

  – Food sales in retail stores fell 37.1% year-on-year in January.

– Minimum Wage: The current Minimum Living and Mobile Wage (SMVM) is 156,000 pesos per month ($184), with no increase despite high inflation. At least Nigeria is reviewing its own.

– IMF Forecast for Argentina: Predicted a 2.8% recession in 2024.

This gloomy situation above is the situation former VP Atiku says in his statement that he would have put on Nigerians – had he won. Thank you, sir, for finally telling the Nigerian people what your true plans were. Now we know – stopping salaries, a recession, > 250% inflation, no investment in social security or infrastructure was your plan for Nigerians all along.

Koko (meat) Of The Matter:

I honestly appreciate former VP Atiku’s attempt to contribute to the economic discourse, albeit through a remarkably flawed lens. As for my principal – @officialABAT President Tinubu’s administration, we will continue to roll up our sleeves, not to play the fiddle as Rome burns, but to diligently work towards a prosperous, stable, and inclusive Nigeria.

Alhaji Atiku, your statement is perplexing. Your critique of President Tinubu’s administration, while glorifying Argentina’s dire situation, is akin to applauding the captain of the Titanic for its speed, ignoring the iceberg dead ahead I understand the allure of sensational headlines and the temptation to draw parallels where none exist, but let’s be clear: Nigeria is not Argentina, and President Tinubu is not President Milei.

Let me be clear: President Tinubu will continue to prioritize the well-being of Nigerian citizens over the theatrics of austerity masquerading as reform. 

Thank you for indulging me once again, sir @atiku