The Presidency has dismissed former Vice President Atiku Abubakar’s latest criticism of President Bola Tinubu’s administration, insisting that Nigeria is making “undeniable” economic progress.
In a statement officials from the Presidency said Atiku’s comments — which likened Nigeria’s current situation to the conditions that sparked the French Revolution of 1789 and the Russian Revolution of 1917 — were “grossly misleading” and “out of touch with reality.”
The government highlighted recent data from the National Bureau of Statistics (NBS), which showed headline inflation declining for the fifth consecutive month and a record trade surplus in August. Non-oil exports now contribute nearly as much to the country’s trade balance as crude oil, with a ratio of 48:52 per cent, it added.
According to the statement, foreign exchange reserves are “on the rise,” approaching $42 billion compared to $32 billion when President Tinubu assumed office. The administration said it has also cleared more than $7 billion in arrears, including $800 million owed to international airlines.
Presidential officials further claimed that states are now able to pay salaries and gratuities promptly while maintaining surplus funds for capital and social projects — a development described as unprecedented at the subnational level.
They argued that current reforms, including exchange rate adjustments and fiscal restructuring, are aimed at correcting “economic mismanagement during the PDP years,” when Atiku served as Vice President.
“After just two years and five months in office, we are proud of the progress being made under President Tinubu’s leadership,” the statement said. “Nigeria is moving in the right direction, and the benefits of the reforms are becoming visible to citizens.”
The Presidency urged Nigerians to “ignore doomsday scenarios” and instead focus on the gains of ongoing reforms, reiterating its commitment to stabilising the economy and improving living conditions nationwide.
