Bayo Onanuga, the special adviser to President Bola Tinubu on Information and Strategy has defended the administration’s economic policies, describing the President as a leader who endured severe political and economic backlash to prevent Nigeria’s collapse.
In a statement marking the third anniversary of Tinubu’s administration, Onanuga said the President made difficult but necessary decisions that helped stabilise the country’s economy after taking office in May 2023.
He said Tinubu met a system weighed down by fuel subsidy obligations, foreign exchange instability, low revenue inflows, and rising debt servicing costs, arguing that immediate reforms were required to avoid deeper economic crisis.
According to him, key decisions such as the removal of fuel subsidy and reforms in the foreign exchange market were painful but essential steps that have since improved fiscal allocations to states and local governments.
Onanuga said the President had “taken the bullets” on behalf of the country, insisting that the reforms were now yielding results in increased government revenue distribution and project execution across states.
He claimed that many states had witnessed improved capacity to fund infrastructure and pay salaries as a result of higher federal allocations following the policy changes.
The presidential aide also pointed to developments in capital market performance, infrastructure projects, rail expansion, student loan schemes, and credit initiatives as evidence of progress under the current administration.
He added that ongoing investments in the power sector and oil industry reforms were part of broader efforts to reposition the economy for long-term growth.
While acknowledging that insecurity remains a challenge, Onanuga said the government is strengthening security operations and international cooperation to address threats posed by banditry and terrorism.
He expressed confidence that history would judge the Tinubu administration positively for implementing what he described as transformative economic reforms and infrastructure expansion initiatives across the country.
