Tinubu didn’t create current economic problems – Says Presidency

Read Time:1 Minute, 13 Second

The presidency says President Bola Tinubu did not create Nigeria’s current economic problems.

In a statement on Sunday addressing a report by the New York Times titled ‘Nigeria Confronts Its Worst Economic Crisis in a Generation,’ Bayo Onanuga, special adviser to the president on information and strategy, said Tinubu inherited the economic problems.

Onanuga said the report reflected the “typical predetermined, reductionist, derogatory, and denigrating way foreign media establishments reported African countries for several decades”.

According to the spokesperson, the publication painted the dire experiences of some Nigerians amid the inflationary spiral of the last year and blamed it all on the policies of Tinubu’s administration, however, it never mentioned the positive aspects of the economy.

“The report, based on several interviews, is at best jaundiced, all gloom and doom, as it never mentioned the positive aspects in the same economy as well as the ameliorative policies being implemented by the central and state governments,” Onanuga said.

“To be sure, President Tinubu did not create the economic problems Nigeria faces today. He inherited them. As a respected economist in our country once put it, Tinubu inherited a dead economy.

“The economy was bleeding and needed quick surgery to avoid being plunged into the abyss, as happened in Zimbabwe and Venezuela. This was the background to the policy direction taken by the government in May/June 2023: the abrogation of the fuel subsidy regime and the unification of the multiple exchange rates.”

Yakubu Atanda

A graduate of Mass Communication and Digital Multimedia Technologist, An experienced Web/Content Developer, He has served a reputable Media Organization in Nigeria with the use of modern technology gadget to disseminate information to the general public.

Learn More →

Leave a Reply