Presidency Rebuts Atiku, Says Tinubu’s Reforms Are Delivering Results

The Presidency has rejected Atiku Abubakar’s criticism of President Bola Tinubu’s economic policies, saying the opposition figure is relying on outdated 2024 figures and ignoring more recent indicators. In a detailed response, presidential spokesman Bayo Onanuga said the reforms were painful at the start but were beginning to stabilise the economy. He cited an estimated economic recovery to about $377 billion, a debt-to-GDP ratio of roughly 40 per cent, and a fall in debt-service-to-revenue from nearly 100 per cent in 2022 to below 60 per cent. Onanuga defended fuel subsidy removal and tax reforms, arguing that they have improved public revenue, increased allocations to states and local governments, and eased the burden on low-income earners and small businesses. He also pointed to investments in healthcare, student loans and primary health centres. The Presidency dismissed Atiku’s claim of a N7.98 trillion oil windfall, saying lower crude production and crude-backed loan obligations reduced the gains from higher oil prices. It maintained that inflation would continue to fall and that the reforms would deliver longer-term benefits despite ongoing hardship.

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