President Bola Tinubu
President Bola Tinubu led administration has defended its economic reforms, saying Nigerians are already seeing positive changes despite criticism from some television commentators.
Presidential spokesman Bayo Onanuga said on Thursday that some TV anchors were still promoting what he described as the opposition’s narrative that nothing had improved since President Tinubu assumed office in 2023.
According to him, the anchors have continued to question recent figures released by the National Bureau of Statistics (NBS), which showed that inflation is easing.
He urged Nigerians to visit markets and see the changes for themselves.
> “TV anchors keep pushing the opposition’s narrative that nothing has changed, positively, indeed, massively, since 2023. Their position has become so ridiculous that they keep parroting the old narrative, and now they question the NBS data on receding inflation. I will advise them to revisit the markets. Food prices are crashing.”
Onanuga claimed that the price of rice had dropped sharply, saying a bag that previously sold for about ₦120,000 now costs less than ₦50,000.
> “The favourite rice that at a time was selling for N120k a bag has crashed below N50k. In my hometown, a bag now sells for N45K.”
The presidential spokesman also said the country’s economy was making significant progress under President Tinubu.
> “Under President Tinubu, Nigeria is making tremendous progress.”
He added that 33 state governors had expressed support for the President’s policies, insisting that such a level of support could not be ignored.
Onanuga further stated that Nigeria’s foreign reserves were now close to 60 billion dollars, while Nigerians had regained the ability to use their naira debit cards for international transactions.
He also said businesses could now access foreign exchange more easily to import raw materials and equipment.
According to him, foreign investors are returning to Nigeria, bringing direct investments that create jobs rather than only investing in financial markets.
> “These investors belong in the category of FDI. They bring money into our economy and create jobs.”
Onanuga concluded by saying the government’s economic reforms had laid a solid foundation for future growth.
> “These facts are clear to anyone not blinded by partisanship and hatred for the leader who has laid a solid foundation for the economy and is poised to take the nation to a higher level of shared prosperity.”
The Presidency has consistently defended the Tinubu administration’s economic reforms, arguing that policies such as the removal of fuel subsidy, foreign exchange reforms and efforts to stabilise the economy are beginning to produce results. However, opposition parties and some economic analysts have continued to raise concerns over the high cost of living and the hardship experienced by many Nigerians despite government assurances.
