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.
FG Inaugurates PenCom Board, Tasks Members On Protection Of Pension Assets
The Federal Government has inaugurated the Board of the National Pension Commission, reinforcing its commitment to transparency, accountability, and the protection of over ₦28 trillion in pension assets.
Speaking at the ceremony, the SGF, Senator (Dr.) George Akume, charged members to uphold strong corporate governance while maintaining a clear boundary between oversight and management.
PenCom
The Board, led by Chairman Agbaje Opeyemi Olukayode, pledged to safeguard contributors’ funds and support national development, while the Director-General Omolola Oloworaran reaffirmed commitment to collaboration in delivering secure and timely retirement benefits for Nigerians.
SEC Sign MoU With NYSC To Fight Ponzi Schemes
SEC sign MoU with NYSC to fight Ponzi schemes. The initiative was designed to sensitise young Nigerians to the risks of fraudulent investment schemes and promote sound, legitimate investment practices.
The Securities and Exchange Commission and National Youth Service Corps have signed a memorandum of understanding to establish a community development service group focused on investment education for corps members.
The initiative was designed to sensitise young Nigerians to the risks of fraudulent investment schemes and promote sound, legitimate investment practices.
According to a statement by the SEC on Sunday, the MoU was recently signed by its director-general, Emomotimi Agama and NYSC director-general, Olakunle Nafiu.
It was also meant to promote financial literacy and sound investment habits among young Nigerians.
In addition, the collaboration will help equip corps members with essential knowledge and skills to identify and avoid Ponzi schemes and other illegal investment practices.
It will also help enhance public awareness campaigns against illegal financial schemes across all LGAs in the country, among other objectives.
“Based on the scope of the collaboration, SEC shall develop and provide relevant and up-to-date educational content, materials, and training modules on capital market operations, safe investment practices, and the identification and avoidance of Ponzi schemes.
“SEC will also be responsible for the content, resources and funding of training sessions for selected corps members and NYSC supervisors who will serve as trainers and facilitators in their respective communities.
SEC
“On its part, the NYSC shall facilitate the integration of anti-Ponzi scheme education into its Education and Enlightenment CDS programme. This may involve dedicated sessions, workshops, or awareness campaigns during orientation camps and throughout the service year,” said the statement.
The parties shall collaborate on joint awareness campaigns, utilising various channels and platforms, including social media, traditional media, and community outreach, to disseminate information on safe investment and expose fraudulent schemes.
Persistent Grid Collapse, Weak Power Supply Worsening Economic Hardship: Oyintiloye
Speaking with journalists on Sunday in Osogbo, Oyintiloye said the situation had continued to deteriorate despite assurances and reforms introduced by authorities.
He described unreliable electricity as a major setback to the federal government’s reforms in the power sector.
He appealed to President Bola Tinubu to urgently intervene, noting that poor power supply is worsening economic hardship across the country.
Oyintiloye said the poor supply has compounded the effects of the current heatwave, making living conditions more difficult for many Nigerians.
The former lawmaker called for the constitution of a panel to investigate recurring national grid collapses and persistent supply challenges despite significant investments.
“It is a terrible situation across Nigeria with persistent poor power supply,” he said.
“Many small-scale businesses and large industrial players are affected, while most homes cannot boast of even three hours of electricity supply daily for domestic use.
“Despite numerous reforms and promises, the national grid continues to collapse. The situation is now compounded by gas supply shortages, weak transmission infrastructure, and chronic underinvestment across the power value chain.
“Nigerians are groaning, and urgent action must be taken by the Minister of Power, Adebayo Adelabu, and his team. The situation cannot continue like this.”
Oyintiloye warned that the situation has already triggered protests in parts of the country and could escalate if not addressed promptly.
“The situation must be quickly addressed before it becomes a national embarrassment. Nigerians need to be informed whether the issue is due to structural failure or sabotage within the power sector,” he said.
Electricity
“This epileptic power supply has led to a series of peaceful protests nationwide. I appeal for the President’s intervention before these protests turn violent.
“Electricity is essential for households and the survival of businesses. Since the end of last year, there has been no stable power supply across the country, despite assurances by those in charge and huge investments in the sector.
“Poor power supply should not be added to the challenges Nigerians are currently facing. The high cost of fuel has also made it difficult for those relying on generators to cope.”
-
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?