The Presidency has dismissed Atiku Abubakar’s remarks on hunger, with Bayo Onanuga citing falling inflation, rising foreign reserves, and trade surplus as signs of progress under President Tinubu.
The Presidency has countered recent remarks by former Vice President Atiku Abubakar on rising hunger in the country, insisting that Nigeria is recording steady economic progress under President Bola Tinubu.
Presidential Spokesperson, Bayo Onanuga, in a statement issued on Monday in Abuja, dismissed Atiku’s warning of possible revolution as “cheap talk,” saying his comments were disconnected from Nigeria’s current realities.
Talk is cheap. Former Vice President Atiku Abubakar and his handlers are clearly out of touch with the positive developments currently unfolding in our country, Onanuga said.
He faulted Atiku’s comparison of Nigeria’s present situation with the French Revolution of 1789 and the 1917 Bolshevik Revolution in Russia, describing it as “grossly misleading.”
Onanuga argued that recent data from the National Bureau of Statistics (NBS) paints a more positive picture of the economy.
Their latest statement demonstrates a disconnect from the authentic Nigerian reality, as recent data tells a different story. Just today, the National Bureau of Statistics (NBS) released its figures for August, showing that headline inflation has declined for the fifth consecutive month, he said.
According to him, the NBS also reported a record trade surplus, with non-oil exports contributing almost equally to trade balance as crude oil, at a ratio of 48:52. Onanuga further disclosed that Nigeria’s foreign exchange reserves have risen to nearly $42 billion, up from $32 billion when President Tinubu assumed office.
When President Tinubu assumed office, reserves stood at 32 billion dollars, much of it encumbered. This administration has since cleared over seven billion dollars in arrears, including 800 million dollars owed to airlines, he said.
He maintained that improved revenues have enabled states to meet obligations such as salaries and pensions, while also funding capital and social projects. Onanuga stressed that the level of financial stability witnessed under Tinubu “has not been seen in years,” adding that many of today’s challenges stemmed from “economic mismanagement during the PDP years, when Atiku was Vice President.”
President Tinubu and his team are working relentlessly to correct those errors with bold reforms. After just two years and five months in office, we are proud of the progress being made under President Tinubu’s leadership, he said.
Edited by Aremu Toyeebaht
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