The Presidency has defended President Bola Tinubu’s economic record, citing the support of 33 governors and claiming that food prices have dropped and foreign investors are returning to Nigeria.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, made the claim while reacting to criticism from television anchors who, he said, continue to push an opposition narrative that nothing has changed since 2023.
Onanuga, in a post on his X handle, accused the anchors of clinging to an outdated position, even as they now question data from the National Bureau of Statistics (NBS) showing that inflation is receding.
“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,” he wrote.
The presidential aide claimed that the price of a bag of rice had fallen from about N120,000 to below N50,000, adding that it sold for N45,000 in his hometown.
Onanuga also cited Nigeria’s foreign reserves, access to foreign exchange for businesses and the ability of Nigerians to use naira cards abroad as signs of economic progress under Tinubu.
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He said the country’s foreign reserves were approaching $60bn and argued that businesses could now obtain foreign exchange to import raw materials and equipment.
The presidential aide further disputed claims that returning investors were mainly portfolio investors, saying foreign direct investment was bringing capital into the economy and creating jobs.
“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,” he added.
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