Special Adviser to President Bola Ahmed Tinubu on Information and Strategy, Bayo Onanuga, has defended the administration’s economic reforms, saying the President made difficult and painful decisions to prevent Nigeria from sliding into fiscal collapse.
Onanuga made the remarks in an opinion article released on Friday titled, “Bola Tinubu: the man who took the bullet for Nigeria to survive.”
In the article, the presidential aide accused opposition politicians of spreading misinformation ahead of the 2027 general elections despite what he described as major achievements recorded by the Tinubu administration over the last three years.
President Tinubu, who was sworn into office on May 29, 2023, marked his third anniversary in office on Friday.
Onanuga said Tinubu inherited a troubled economy facing serious financial pressures, including petrol scarcity, rising debt, low government revenue, multiple foreign exchange rates and an unsustainable fuel subsidy regime.
According to him, the immediate removal of fuel subsidy and the floating of the naira by the administration were painful but necessary steps taken to save the country from economic disaster.
“The man who has taken the bullets to make Nigeria survive a fiscal disaster is even more willing to take additional bullets to make all Nigerians safe,” Onanuga stated.
Tinubu’s administration removed petrol subsidy on the day he assumed office in 2023, a decision that immediately caused fuel prices to rise sharply across the country.
The government also introduced reforms in the foreign exchange market by ending multiple exchange rate windows and allowing the naira to trade more freely.
While government officials insist the reforms are necessary to stabilise the economy and attract investment, many Nigerians have complained about rising inflation, increasing food prices, transportation costs and worsening hardship.
Labour unions, civil society groups and opposition parties have repeatedly criticised the policies, arguing that ordinary citizens are carrying the burden of the reforms.
However, Onanuga maintained that the decisions prevented a more serious economic crisis and improved the financial position of states and local governments.
According to him, many governors are now able to execute projects and pay salaries because of increased allocations coming from the Federation Account after subsidy removal.
“In every state I have visited, I have seen development projects spring up because of President Tinubu’s re-engineering of the federation’s finances,” he said.
The presidential spokesman listed states such as Ogun, Oyo, Nasarawa, Enugu, Ebonyi, Kaduna, Kano, Kebbi and Katsina as examples where infrastructure projects were ongoing due to improved revenues.
He also said local government councils would benefit further once direct allocations from the Federation Account begin.
“When local councils begin to receive their allocations directly, more governance will reach the 774 local governments,” he added.
Onanuga further claimed that some governors, including those from opposition parties, had openly acknowledged the benefits of the Federal Government’s reforms.
He cited Kwara State Governor AbdulRahman AbdulRazaq as saying his administration had executed more projects during Tinubu’s presidency than in previous years.
The presidential aide also mentioned Governors Francis Nwifuru of Ebonyi State, Peter Mbah of Enugu State and Abdullahi Sule of Nasarawa State as leaders who had praised the impact of increased allocations to states.
According to Onanuga, some opposition governors who defected to the ruling All Progressives Congress did so because of the financial improvements recorded under Tinubu’s administration.
“Many opposition governors who joined the APC did so because they saw the results of the reforms, not because of any bribery claims,” he argued.
Onanuga also highlighted improvements in the Nigerian stock market under the current administration.
According to him, the All-Share Index rose from about 53,000 points in May 2023 to around 250,000 points, while market capitalisation increased from N30tn to N160tn.
He described the growth as evidence of rising investor confidence in Nigeria’s economy.
The presidential aide further praised the administration’s infrastructure drive, describing projects such as the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Super Highway as among the biggest road projects since Nigeria gained independence.
The Lagos-Calabar Coastal Highway project, which stretches across several coastal states, has remained one of the flagship projects of the Tinubu administration.
Government officials say the road will improve transportation, trade and tourism across the southern part of the country.
Onanuga also pointed to ongoing investments in railway transportation and reforms in the oil and gas sector.
He said the administration had expanded access to higher education through the Nigerian Education Loan Fund, popularly known as NELFUND.
The student loan programme was introduced to help students continue their education despite rising school costs and economic hardship.
According to him, the government has also introduced consumer credit initiatives through CREDICORP to help workers and families access loans more easily.
On electricity, Onanuga said the administration was working to improve power supply through grid upgrades, metering programmes and plans to settle debts owed to power generation companies.
Nigeria’s power sector has struggled for years with poor infrastructure, inadequate investment and unstable electricity supply, affecting businesses and households across the country.
Despite defending the administration’s performance, Onanuga admitted that insecurity remains one of the major challenges facing the country.
Nigeria continues to battle insurgency in the North-East, bandit attacks in the North-West, kidnapping in parts of the North-Central and violent crimes in several communities.
The presidential aide said the Federal Government was providing support, equipment and international cooperation to security agencies to improve operations against terrorists and criminal groups.
He expressed confidence that the security situation would improve with continued government efforts.
Onanuga argued that history would remember the Tinubu administration for carrying out bold reforms aimed at repositioning the Nigerian economy.
According to him, the government’s policies and infrastructure projects would have long-term benefits for the country despite current hardship being experienced by many Nigerians.
The Presidency’s defence of the reforms comes amid growing public debate over the state of the economy and rising cost of living.
While supporters of the administration argue that the reforms are laying the foundation for future growth, critics insist that many Nigerians are yet to feel any real improvement in their daily lives.
As the 2027 general elections draw closer, economic performance, insecurity and living conditions are expected to remain major issues in the country’s political discussions.