In the face of widespread economic challenges fueled by inflation following the removal of fuel subsidy at the beginning of Chief Bola Tinubu’s administration, Tinubu has asserted that Nigerians are currently experiencing the lowest cost of living on the African continent.
Bayo Onanuga, the Special Adviser to Bola Ahmed Tinubu on Information and Strategy, defended the administration’s reforms, acknowledging immediate hardships but emphasising their potential to lead Nigeria into an era of prosperity in the medium and long terms.
Responding to recent comments from Atiku Abubakar, the Peoples Democratic Party’s (PDP) presidential candidate in the last election, Onanuga refuted claims of a poor response to national challenges.
Atiku argued that Tinubu’s approach was setting the stage for a prolonged and deeper economic crisis. Onanuga countered these assertions, stating that recent comparative cost of living indices indicated that Nigerians still enjoyed the lowest cost of living in Africa.
The statement also challenged Atiku’s claims about the private sector shrinking and multinational companies leaving in ‘droves,’ asserting that such assertions were not grounded in facts.
Onanuga faulted Atiku’s assertions, stating, “His claim that the government’s policies have created intense cost of living pressures are also not grounded on facts as recent comparative cost of living indices show that Nigerians still enjoy the lowest cost of living in Africa.”
“Atiku’s claims that the private sector is shrinking and that multinational companies are leaving our companies in ‘droves’ are not grounded on facts,” he added.
Onanuga further disclosed that Atiku “should be honest enough to admit that Tinubu inherited a weak economy,” which, to all intents and purpose needs a complete overhaul.
Highlighting the hypocrisy perceived in Atiku’s criticism, the statement pointed out, “Nigerians can easily see through the hypocrisy of Alhaji Atiku, who in accusing Tinubu of poor response to the nation’s challenges and causing pains and despair, didn’t offer any better policy options in his run for the Presidency different from the economic reform agenda being pursued by Bola Tinubu.”
Onanuga added that reputable local and international agencies, understanding the challenges faced by the Tinubu administration, have commended the positive, realistic, and sustainable policy trajectory.
Concluding the statement, Onanuga revealed that the administration had embarked on comprehensive fiscal and tax policy reform aimed at driving a speedy recovery and spurring economic growth and therefore its detractors “cannot stop the serious work of nation-building already set in motion by Bola Ahmed Tinubu.”