The Special Adviser to the President on Information and Strategy, Bayo Onanuga, has said Nigerians are beginning to enjoy the benefits of President Bola Ahmed Tinubu’s economic reforms, citing increased funding to states, infrastructure development and improving macroeconomic indicators as signs that the country is moving in the right direction.
Onanuga stated this while reacting on Arise TV to criticisms from former Anambra State Governor and Nigeria Democratic Congress presidential candidate, Peter Obi, insisting that public support for the administration was growing because citizens were witnessing positive changes in their communities.
According to the presidential spokesman, President Tinubu’s policies have significantly improved the financial capacity of state governments, enabling them to embark on projects with direct impact on citizens.
“We just came back last week, I think on Thursday or so, from a tour of the South-East part of Nigeria. We are now going to the North-West. We talked to ordinary people. They were praising this President,” Onanuga said.
“People are praising the President. The states in Nigeria are alive. Because of President Tinubu’s policies, states now have a lot of money to embark on a lot of projects. Projects that have impact on the people they govern.
“The states are getting more funds. And they are building schools, they are building roads, they are building health institutions. Things are really changing, and people should wake up to that-that things are changing and the nation is better for it.”
Defending the administration’s foreign exchange reforms, Onanuga argued that allowing market forces to determine the value of the naira had helped eliminate distortions in the economy.
“The President simply did was say, ‘Look, let the Naira find its true value.’ Let the Naira find its true value,” he said.
He added that recent assessments by international financial institutions suggested the local currency still had room for appreciation.
“I think yesterday or so, either it was the IMF or World Bank, they are also saying that the Nigerian currency’s true value is about N1,100 or so. Even though today it’s still N1,300 and something, even by CBN standards. Which means the Naira can even do better.
“The Naira has found its value, the Naira will appreciate more as we are going.”
While acknowledging the economic difficulties faced by many Nigerians, Onanuga described the situation as part of the inevitable consequences of major reforms.
“I’m not saying there’s been no increase in the cost of living. I’ve not said so. But what I’m saying is things are not as dismal as the opposition is saying,” he stated.
“If you look at the macroeconomic indicators, it shows that something is going on right for this country. And you have to get that macroeconomic sector right before you can even talk about micro.
“And there’s nowhere in the world where reforms that you are implementing, where they have been done, where people don’t go through certain pressures, certain pains. That’s what we are facing.”
Responding to concerns that government officials are insulated from the hardship experienced by ordinary Nigerians, Onanuga said some members of the Federal Executive Council had made personal sacrifices in the course of service.
“That’s not totally true,” he said.
“It will shock people that some ministers—some of them even spoke during the last budget exercise that they didn’t receive capital money and so on—some ministers, because they come into office to serve, have been using their personal funds to run. Some of them are not even collecting government money.”
Onanuga identified the Electricity Act signed by President Tinubu as one of the administration’s most significant reforms.
According to him, the legislation has empowered states to generate, transmit and distribute electricity independently.
“What he did, to show that he meant business, the first thing he did when he came to office, he signed the Electricity Act, which enables states to generate power, to transmit power, to distribute power,” he said.
“And some of the states are taking advantage of that. More are going to do so. That will make the electricity sector open, more competitive.
“We have done that. Power generation has increased. We are not at the level that the President met it.”
Onanuga also dismissed claims that insecurity had worsened under the current administration, accusing critics and sections of the media of exaggerating the situation.
“Some of these breaches you’re talking about… It’s not that Nigeria is under siege, as the opposition wanted to believe,” he said.
