Economy
Your Criticism Of Tinubu Driven By Animosity, Says Bayo Onanuga To Atiku
Your Criticism Of Tinubu Driven By Animosity, Says Bayo Onanuga To Atiku
Your criticism of Tinubu driven by animosity, says Bayo Onanuga to Atiku. Bayo Onanuga, special adviser to President Bola Tinubu on information and strategy, says former Vice-President Atiku Abubakar’s incessant criticism of his principal is driven by animosity.
Onanuga was responding to Abubakar’s assessment of Tinubu’s second year in office.
In a statement issued Thursday, Onanuga said in two years, Tinubu has carried out the “most ambitious and audacious” economic and institutional reforms not witnessed in the country in decades.
“Atiku’s sweeping criticism is unfair and appears to be driven more by animosity than objective analysis,” the statement reads.
“Unless former Vice President Atiku allowed personal grievances to cloud his judgment, he should, in good conscience, acknowledge the significant progress and positive achievements made by this administration over the past two years.”
The aide said Tinubu never promised that his reforms would be painless but was clear that they were necessary to save the country from the brink of fiscal collapse due to unsustainable spending.
Onanuga said the removal of subsidy on petrol and unification of the foreign exchange market were policies previous administrations deemed imperative but failed to implement.
He said unlike Abubakar and a few critics, “everyone” agrees the reforms have stabilised government finances, reduced systemic corruption, and attracted direct investments into social programmes and infrastructure.
“Foreign investors now see Nigeria as an irresistible destination. Since 2023, the Nigerian exchange has seen its ASI jump from 50,000 to over 110,000, and market capitalisation has increased to N69.4 trillion, from about N30 trillion before Tinubu’s ascension,” he said.
Faulting Abubakar’s assertion that Tinubu’s policies only favour the rich while punishing the poor, Onanuga said the president has implemented social safety nets, introduced targeted interventions for low-income households and increased the minimum wage from N30,000 to N70,000.
Onanuga said Abubakar’s remark that education has become out of reach for poor Nigerians is “entirely off the mark”.
“Everyone knows the claim is false. It is just an attempt to throw any muck at Bola Tinubu,” he said.
BORROWING CLAIM
The presidential spokesperson said since last year, the government has introduced the student loan scheme to ensure that underprivileged children are not denied education because of poverty.
He said at the last count, over 600,000 students have benefitted from the scheme.
Onanuga said the Tinubu administration has made investments in medical care, including revitalising primary health centres, expanding health insurance, and working to reduce the cost of medicines.
He said Abubakar “ignorantly” accused the Tinubu administration of borrowing fresh money to support the 2025 budget, adding that the former vice-president “relied on social media gossip”.
“The finance minister has debunked this as untrue and said that even this year, the government only wants to borrow about $1.2 billion,” Onanuga said.
“Because Atiku does not like Bola Tinubu’s guts, he forgets to credit his administration with some of the fiscal achievements in the last two years. Revenue has increased phenomenally.
Atiku
“The debt service ratio to revenue has declined from 93 per cent to 60 percent. This government has paid off the $3.4 billion IMF loan obtained in the Covid years.
“The current administration has discontinued Ways & Means deficit financing for the first time in decades.
“State revenue has risen, and subnational governments now have greater resources for local development and to pay their debts.”
Onanuga said criticism must be constructive, adding that Abubakar should also offer a solution when he opposes government policies.
“Otherwise, his opposition statements will be dismissed as mere partisan rhetoric and cheap talk,” he said. Onanuga urged Nigerians to judge the current administration objectively.
Eid-el-Fitr: NRC Sets To Run Three Lagos–Ibadan Train Trips Monday
Eid-el-Fitr: NRC sets to run three Lagos–Ibadan train trips Monday. He assured passengers of NRC’s continued commitment to safe, reliable, and efficient rail services.
This was contained in a statement issued on Friday in Lagos by NRC chief public relations officer, Callistus Unyimadu.
He said the additional trip was in response to high passenger turnout during the Eid-el-Fitr travel period.
“The extra trip is aimed at easing passenger movement and providing more travel options for commuters returning after the Eid-el-Fitr celebrations.
“Under the schedule, departures from Lagos (Mobolaji Johnson Station, Ebute Metta) will be at 7.45 a.m., 1.40 p.m., and 4.00 p.m.
“From Ibadan (Obafemi Awolowo Station, Moniya), trains will depart at 8.00 a.m., 10.50 a.m., and 4.30 p.m.,” he said.
Mr Unyimadu assured passengers of NRC’s continued commitment to safe, reliable, and efficient rail services.
NRC Sets To Run Three Lagos–Ibadan Train Trips Monday
He advised travellers to arrive early, comply with ticketing and security procedures, and plan their journeys.
“The corporation appreciates the continued patronage of its services and wishes all passengers a safe and pleasant journey,” he added.
UBA, BII Sign Letter Of Intent To Explore Trade Finance Collaboration Across Africa
United Bank for Africa (UK) Limited (“UBA UK”) and British International Investment plc (“BII”), the UK’s development finance institution and impact investor, announced that they have signed a letter of intent to develop trade finance collaboration opportunities.
The proposed initiative aims to expand access to trade and working capital facilities for businesses operating across Africa.
Access to trade finance remains one of the most significant structural constraints on African trade. Businesses, particularly small and medium-sized enterprises, are frequently unable to secure letters of credit, guarantees, and supply chain finance on commercially viable terms, limiting their capacity to export and import competitively. This trade finance gap is estimated by the African Development Bank to be over USD 80 billion annually.
To help close this gap, UBA UK, the London subsidiary of UBA Group, Africa’s Global Bank, will leverage its deep relationships across the Group’s 20-country African network to originate and structure trade finance transactions. While BII, with a mandate to support productive, sustainable, and inclusive growth across Africa, can support transactions that might otherwise fall outside conventional commercial appetite.
“The signing of this letter with BII represents a landmark moment for UBA UK and for the UBA Group’s global ambitions. As the Group’s hub for Trade Operations, UBA UK is uniquely positioned to connect African businesses with the international financial system. Working alongside BII, we can extend that capability further — mobilising capital where it matters most and helping to close the trade finance gap that holds back so much African potential,” said Lok Mishra, Chief Executive Officer, UBA UK
“British International Investment is committed to catalysing private sector growth across Africa, and trade finance is a critical enabler of that growth. We welcome the opportunity to collaborate with UBA Group, whose pan-African network and deep institutional relationships can help advance our ambition to expand access to trade and working capital finance, particularly in frontier markets,” Chris Chijiuitomi, Managing Director and Head of Africa
The announcement builds on growing momentum around intra-African trade facilitated by the African Continental Free Trade Area (AfCFTA), which entered into force in 2021 and represents one of the world’s most significant trade integration initiatives. Both institutions have identified the operationalisation of AfCFTA as a priority catalyst for a trade finance facility, with UBA UK’s network across major AfCFTA economies offering a basis for supporting businesses navigating the emerging continental market.
This also complements the UK Government’s broader engagement with African economic development, including commitments made at the UK-Africa Investment Summit, and reinforces the City of London’s role as a leading international finance centre for Africa-focused capital mobilisation.
Future cooperation remains subject to further assessment, due diligence and the completion of internal approvals by both parties.
ABOUT UNITED BANK FOR AFRICA (UK) LIMITED
UBA UK is the London-based subsidiary of United Bank for Africa Plc, one of Africa’s leading financial institutions with operations across 20 African countries, the United Kingdom, the United States of America, France, and the United Arab Emirates. UBA UK serves as the Group’s hub for Trade Operations, providing a comprehensive suite of trade finance, treasury, and correspondent banking services to institutional and corporate clients worldwide.
UBA
ABOUT UNITED BANK FOR AFRICA GROUP
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
ABOUT BRITISH INTERNATIONAL INVESTMENT
British International Investment is the UK’s development finance institution and impact investor. The organisation invests in businesses in developing countries to improve people’s lives and help protect the planet. BII’s work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good.
Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development.
The company has investments in over 1,600 businesses across 66 countries and total net assets of £9.87 billion. For more information, visit: www.bii.co.uk | watch here. Follow British International Investment on LinkedIn, Bluesky and X.
Eid-el-Fitr: President Tinubu Felicitates Muslims, Urges Renewed Unity, Patriotism
Eid-el-Fitr: President Tinubu felicitates Muslims, urges renewed unity, patriotism. Mr Tinubu called on Muslims to reflect on the spiritual lessons of Ramadan.
The president urged them to renew commitment to national unity, peaceful coexistence, and service to humanity as they celebrate the festival across the country on Friday.
This is contained in a statement issued by presidential spokesperson, Bayo Onanuga, on Thursday in Abuja.
Mr Tinubu called on Muslims to reflect on the spiritual lessons of Ramadan, noting that the holy month teaches discipline, sacrifice, compassion, and devotion to God and humanity.
He said: “We have a lot to draw from the noble lessons of Ramadan, especially at a time like this.
“We must continue to abide by the virtues of piety, selflessness, perseverance, kindness and compassion beyond this period.”
The president emphasised the need for Nigerians to remain united across religious and ethnic lines, stressing that national cohesion remains vital for sustainable peace and development.
He urged Muslims to extend acts of kindness and charity to the less privileged, irrespective of religious or ethnic background, in line with the enduring values of Islam.
Mr Tinubu noted that such gestures would strengthen social bonds, promote inclusiveness, and reinforce the spirit of brotherhood that defines the Nigerian society.
The president also called on religious leaders to use the occasion to offer prayers for peace, stability, and economic prosperity across the country.
Tinubu
He expressed optimism that with collective efforts, Nigeria would overcome its challenges and achieve lasting progress for the benefit of all citizens.
Mr Tinubu wished Muslims a joyous celebration, praying that the blessings of Ramadan would bring renewed hope, strength, and guidance to individuals, families, and the nation.
-
Crime11 months agoKogi Assembly Considers Law To Regulate Rent, Establish Control Board: Tenancy Law
-
News12 months agoAtiku Reveals Why He Failed To Pick Wike As Running Mate In 2023
-
Akwa Ibom1 year agoThe Apostolic Church Gets New Territorial Chairman, Exco
-
Crime1 year agoFederal High Court Jails 2 For Vandalizing Transformer, Telecom Mast In Kogi
-
News1 year agoThe Apostolic Church Gets New National President, Executive
-
Akwa Ibom1 year agoUmo Eno Commences Payment Of 80,000 Naira Minimum Wage With Arrears
-
News1 year agoSenator Natasha Returns To Senate With Husband Amid Seat Dispute
-
Economy10 months agoKiyosaki: Is Tinubu’s Government Afraid Of Ibrahim Traore?