Onanuga Defends Tinubu’s Economy, Says 33 Governors’ Support Cannot Be Wrong

President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, has defended the administration’s economic policies, arguing that support from 33 governors and what he described as falling food prices and renewed foreign investment demonstrate progress.

Onanuga made the comments in a Friday post reacting to a video published by Arise TV on X. The clip featured Obafemi George, a member of the Media and Strategic Communications Committee of the All Progressives Congress Presidential Campaign Council.

He accused television presenters of echoing the opposition’s claim that Nigeria had recorded no positive changes since Tinubu assumed office in 2023. He also faulted their questioning of National Bureau of Statistics data showing a decline in inflation.

“TV anchors keep pushing the opposition’s narrative that nothing has changed, positively, indeed, massively, since 2023. Their position has become so ridiculous that they keep parroting the old narrative, and now they question the NBS data on receding inflation. I will advise them to revisit the markets,” Onanuga wrote.

The presidential spokesman cited rice prices as an example of the changes he said had occurred, claiming that a bag which previously cost about N120,000 had fallen to less than N50,000. He added that rice was selling for N45,000 in his hometown.

Onanuga also highlighted the country’s foreign reserves, access to foreign exchange for import-dependent businesses and the use of naira cards by Nigerians overseas as evidence of improvements in the economy.

He said Nigeria’s foreign reserves were nearing $60 billion and maintained that businesses were now able to obtain foreign exchange to purchase raw materials and equipment from abroad.

Addressing concerns about the nature of returning foreign investment, Onanuga rejected the argument that the inflows were largely portfolio investments. He said foreign direct investment was injecting capital into the economy and generating jobs.

“These facts are clear to anyone not blinded by partisanship and hatred for the leader who has laid a solid foundation for the economy and is poised to take the nation to a higher level of shared prosperity,” he added.

His remarks have brought renewed attention to the debate over the administration’s economic record, including inflation, food affordability, foreign exchange availability and investment flows.

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