Student loans: Tinubu not using subsidy savings, sharing funds with allies — Shaibu

Jeremiah Adeshina

A Senior Special Assistant on Public Communication to former Vice President Atiku Abubakar, Phrank Shaibu, has criticised President Bola Tinubu over his speaking style and economic policies, accusing the President of adopting a foreign accent and failing to ease the economic hardship confronting Nigerians.

Shaibu spoke on Monday during an interview on Frontline, a current affairs programme on Eagle 102.5 FM, Ilese-Ijebu.

The former Vice President’s aide questioned what he described as President Tinubu’s use of an American accent, arguing that the accent was irrelevant to leadership capacity.

“Accents don’t put money in our pockets, neither does it mean capacity in our brains,” Shaibu said.

He further argued that adopting an American or British accent did not necessarily translate into effective communication or good governance.

“You cannot use an American accent or the British accent without speaking good English,” he added.

Shaibu said Nigerians should assess the Tinubu administration based on the prevailing economic conditions and the welfare of citizens rather than the President’s manner of speaking.

According to him, the removal of the petrol subsidy has contributed to higher transportation, food, education and healthcare costs.

He argued that increased government revenue should not automatically be regarded as evidence of economic success if ordinary Nigerians were simultaneously losing purchasing power.

Shaibu described arguments linking increased government revenue to economic progress as “maths of wretched illiteracy,” insisting that the welfare of citizens should remain the ultimate measure of economic performance.

The Atiku aide also criticised President Tinubu over comments attributed to him concerning hunger in Nigeria.

“This is a man who went on national television and said that before he was born, Nigerians had been hungry,” Shaibu said.

“Hunger did not start with him. Look at that audacity,” he added.

Shaibu described the statement as “reckless audacity,” arguing that Nigeria’s economic challenges required more responsive policies from the government.

The former Vice President’s aide also questioned the source of funds being used to finance the Federal Government’s student loan programme.

Shaibu alleged that the student loan scheme was not being funded primarily with savings from the removal of petrol subsidy, contrary to what he said Nigerians had been led to believe.

“It is a lie from the pit of hell. Tinubu is not paying student loans from the monies that came from the removal of fuel subsidy. He is sharing that money between himself, his friends and associates,” he alleged.

He further claimed that funds recovered from financial crimes and unclaimed dividends were being used to support the student loan programme.

Shaibu criticised the alleged use of such funds for education financing and argued that the government should rely on legitimate and transparent public revenue to support Nigerian students.

“That money he is using to give loans to our children is money that is cursed. In Islam, we call it haram,” he said.

He argued that students preparing to become doctors, engineers, astronauts and other professionals deserved to be supported through properly appropriated public funds.

Shaibu also attacked the Federal Government over its borrowing profile, questioning why Nigeria continues to accumulate debt despite claims that subsidy removal has significantly improved government revenues.

“He is still taking loans like a drunken sailor. He has taken more loans than all the presidents that have ruled Nigeria combined since independence,” Shaibu alleged.

His comments add to the growing political debate over the Tinubu administration’s economic reforms, particularly fuel subsidy removal, government revenues, borrowing and the welfare of ordinary Nigerians.

The claims and allegations made by Shaibu represent the position of the former Vice President Atiku Abubakar’s political camp. The Federal Government and the Presidency were not quoted in the remarks provided for this report.