TMSG to Atiku: Tinubu's Borrowing Is Growth-Focused, Nigerians Enjoy More Tax Reliefs Than Ever

The Tinubu Media Support Group (TMSG) has dismissed former Vice President Atiku Abubakar's criticism of the President Bola Tinubu administration over borrowing, food imports and taxation, insisting that the claims are not supported by credible data.

Atiku, the presidential candidate of the African Democratic Congress (ADC), had recently argued that Nigeria could not "borrow, import and tax its way to prosperity," alleging that the Federal Government was relying excessively on borrowing, importation and taxation.

However, in a statement jointly signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the TMSG described the allegations as misleading and lacking factual basis.

According to the group, Atiku's criticism was largely based on the National Bureau of Statistics (NBS) June 2026 inflation report, which, while showing a slight increase in food inflation, also reflected an overall month-on-month decline in inflation.

The group noted that the June 2026 food inflation rate of 17.52 per cent represented a significant improvement compared to the 25.41 per cent recorded in June 2025, adding that the former Vice President ignored this progress in an attempt to discredit the Tinubu administration.

TMSG further argued that the Federal Government's temporary waivers on selected food imports helped ease food prices nationwide. It also accused Atiku of selectively highlighting states with higher food inflation while ignoring states such as Katsina, Rivers and Imo, which recorded comparatively lower rates of 19.15 per cent, 23.81 per cent and 24.60 per cent respectively.

The group maintained that the recent rise in food prices was largely driven by the Middle East conflict, which increased global fuel costs and transportation expenses, rather than by government policies.

"It is common knowledge that the Middle East conflict triggered increases in fuel and transportation costs, leading to higher food prices. Inflation had been on a steady decline from the last quarter of 2025 until the outbreak of the crisis in March 2026," the statement said.

On taxation, TMSG described Atiku's claims as "flawed, egregious and blatantly misleading," arguing that the Tinubu administration's tax reforms have substantially reduced the tax burden on millions of Nigerians.

The group explained that under the Nigeria Tax Act (NTA), qualifying small businesses now enjoy zero per cent Companies Income Tax (CIT), zero per cent Capital Gains Tax (CGT), exemption from the four per cent Development Levy, and are no longer subject to mandatory withholding tax deductions on business transactions.

It added that individuals earning up to ₦1.2 million annually are completely exempt from personal income tax.

"We wonder which tax law the former Vice President was referring to when he claimed that Nigeria cannot tax itself to prosperity. Nigerians now enjoy more tax reliefs than at any other time in recent history, including when Atiku served as Vice President and headed the country's economic team," the statement added.

The TMSG urged Nigerians to disregard Atiku's comments, describing them as politically motivated rather than being in the national interest.