The Presidency expressed criticism on Sunday towards former Vice President Atiku Abubakar, who is promoting a gradual reform approach as opposed to President Bola Tinubu’s more immediate strategies. The administration contended that Atiku’s economic proposals could have led the nation into a more dire predicament than it currently faces. Mr. Bayo Onanuga, the President’s Special Adviser on Information and Strategy, emphasized that while gradual reforms may seem attractive, the decisive actions taken by Tinubu were necessary steps that should have been implemented long ago by Atiku and his former boss, Olusegun Obasanjo. In response to Atiku’s recent tweet, where he labeled Tinubu’s reforms as “trial-and-error economic policies” and attributed the suffering of Nigerians to the President’s decisions, Onanuga defended the current administration. He pointed out that Atiku, despite not holding the presidential office, claims his suggestions are made with the welfare of Nigerians in mind. Since taking office in May 2023, Tinubu has made significant changes, including the removal of the fuel subsidy and the unification of foreign exchange rates, which have had noticeable effects on the economy, including rising prices for food, transportation, and other essentials. Onanuga further criticized Atiku’s lack of detailed proposals, noting that his ideas were previously rejected by the electorate in the 2023 elections. He argued that it is easy for individuals to criticize and undermine a competitor’s policies, even when there are clear indicators that the current economic reforms are producing positive outcomes, despite the short-term challenges. The statement concluded by suggesting that if Atiku had been elected, his leadership might have led Nigeria into a more troubling situation.

The Presidency expressed criticism on Sunday towards former Vice President Atiku Abubakar, who is promoting a gradual reform approach as opposed to President Bola Tinubu’s more immediate strategies. The administration contended that Atiku’s economic proposals could have led the nation into a more dire predicament than it currently faces. Mr. Bayo Onanuga, the President’s Special Adviser on Information and Strategy, emphasized that while gradual reforms may seem attractive, the decisive actions taken by Tinubu were necessary steps that should have been implemented long ago by Atiku and his former boss, Olusegun Obasanjo. In response to Atiku’s recent tweet, where he labeled Tinubu’s reforms as “trial-and-error economic policies” and attributed the suffering of Nigerians to the President’s decisions, Onanuga defended the current administration. He pointed out that Atiku, despite not holding the presidential office, claims his suggestions are made with the welfare of Nigerians in mind. Since taking office in May 2023, Tinubu has made significant changes, including the removal of the fuel subsidy and the unification of foreign exchange rates, which have had noticeable effects on the economy, including rising prices for food, transportation, and other essentials. Onanuga further criticized Atiku’s lack of detailed proposals, noting that his ideas were previously rejected by the electorate in the 2023 elections. He argued that it is easy for individuals to criticize and undermine a competitor’s policies, even when there are clear indicators that the current economic reforms are producing positive outcomes, despite the short-term challenges. The statement concluded by suggesting that if Atiku had been elected, his leadership might have led Nigeria into a more troubling situation.

The Presidency expressed criticism on Sunday towards former Vice President Atiku Abubakar, who is promoting a gradual reform approach as opposed to President Bola Tinubu’s more immediate strategies. The administration contended that Atiku’s economic proposals could have led the nation into a more dire predicament than it currently faces. Mr. Bayo Onanuga, the President’s Special Adviser on Information and Strategy, emphasized that while gradual reforms may seem attractive, the decisive actions taken by Tinubu were necessary steps that should have been implemented long ago by Atiku and his former boss, Olusegun Obasanjo. In response to Atiku’s recent tweet, where he labeled Tinubu’s reforms as “trial-and-error economic policies” and attributed the suffering of Nigerians to the President’s decisions, Onanuga defended the current administration. He pointed out that Atiku, despite not holding the presidential office, claims his suggestions are made with the welfare of Nigerians in mind. Since taking office in May 2023, Tinubu has made significant changes, including the removal of the fuel subsidy and the unification of foreign exchange rates, which have had noticeable effects on the economy, including rising prices for food, transportation, and other essentials. Onanuga further criticized Atiku’s lack of detailed proposals, noting that his ideas were previously rejected by the electorate in the 2023 elections. He argued that it is easy for individuals to criticize and undermine a competitor’s policies, even when there are clear indicators that the current economic reforms are producing positive outcomes, despite the short-term challenges. The statement concluded by suggesting that if Atiku had been elected, his leadership might have led Nigeria into a more troubling situation.

The statement highlighted that, similar to Nigeria, prolonged periods of ineffective governance have led to the decline of what was once one of the most affluent nations in Latin America, resulting in both economic and political devastation. In a manner akin to Nigeria, where the price of petroleum per litre is among the lowest in Sub-Saharan Africa, Venezuela’s gasoline was not only the most inexpensive in the world but often approached a state of being virtually free. This situation facilitated the smuggling of approximately 100,000 barrels of gasoline, valued at over $10 billion annually, across its borders into Brazil and Colombia, where it could be sold for profit, mirroring the circumstances observed along Nigeria’s borders with its West African neighbors. The policy group emphasized that, in light of these challenges, the Tinubu administration has initiated reforms aimed at steering Nigeria away from a trajectory similar to that of Venezuela. It is crucial to recognize that the focus should not be on questioning the President’s readiness to implement economic reforms, but rather on assessing the potential for positive developments in the nation’s economic landscape as these reforms progress. The assertion is made that there are indeed observable changes in the structure of the Nigerian economy, aligning with the intended reforms.

The response of macroeconomic indices to the ongoing reforms indicates the propensity of an economy on an upward trajectory and the imminence of an expanding economy with the capacity to produce jobs and concomitant wealth creation,” the IMPI added.