The Presidency on Monday rejected criticisms from former Vice President Atiku Abubakar, insisting that Nigeria is making steady economic progress under President Bola Tinubu.
Bayo Onanuga, Special Adviser to the President on Information and Strategy, described Atiku’s comparison of Nigeria’s current situation to pre-revolutionary France and Russia as “misleading” and “out of touch with reality.”
Citing data from the National Bureau of Statistics (NBS), the Presidency highlighted that headline inflation had declined for the fifth consecutive month as of August. It also reported a record trade surplus, with non-oil exports now accounting for 48 percent of the trade balance, surpassing crude oil’s 52 percent.
The statement noted that Nigeria’s foreign exchange reserves have risen to nearly $42 billion from $32 billion when President Tinubu assumed office. Over $7 billion in arrears, including $800 million owed to international airlines, have also been cleared.
According to the Presidency, states are now better funded, enabling prompt payment of salaries and pensions while still investing in capital and social projects. The administration attributed present challenges to “economic mismanagement” by previous governments and stressed that current reforms aim to reverse these legacies.
It reads partly: “After just two years and five months, the administration is proud of the progress made under President Tinubu’s leadership.
“Nigerians can see and feel the positive changes taking place across the nation.”
