The Presidency on Monday dismissed former Vice President Atiku Abubakar’s warning that Nigeria was at the precipice of unrest similar to the French Revolution due to raging hunger and poverty.
The presidency described the opposition leader’s comments as “cheap talk” and out of touch with recent economic data.
“Their latest statement demonstrates a disconnect from the authentic Nigerian reality,” a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, Monday evening.
Atiku states that rising hunger could trigger mass anger reminiscent of the 1789 French uprising or the 1917 Bolshevik Revolution in Russia.
However, the presidency responded that data from the National Bureau of Statistics portrayed a more positive image.
According to the statement, headline inflation fell for the fifth consecutive month in August, while the country reported a record trade surplus, with non-oil exports nearly equaling crude oil at a 48:52 ratio.
The presidency also said that foreign reserves had increased to about $42 billion, up from $32 billion when Tinubu entered office, after paying more than $7 billion in arrears, including $800 million owed to foreign airlines.
However, the presidency argued that “Under President Tinubu, Nigeria is recording unprecedented revenues.
“States are now able to pay salaries and gratuities promptly and still have surplus funds for capital and social projects—an achievement not previously witnessed at this scale.
“Nigeria is moving in the right direction.”
It alleged that Atiku and the opposition Peoples Democratic Party are ignoring these gains and focusing instead on “doomsday scenarios” rooted in economic mismanagement during their years in power.
“In contrast, Atiku and his party remain stuck in the past, fixated on doomsday scenarios and revolutionary rhetoric.
“Ironically, many of the challenges we face today stem from the economic mismanagement during the PDP years, when Atiku was vice president.
“President Tinubu and his team are working relentlessly to correct those errors, with bold reforms,” the presidency noted.
Tinubu, who has been in government for two years and five months, has undertaken broad economic changes, like the elimination of fuel subsidies and exchange rate harmonization.
Officials claim that these steps are stabilizing state finances and encouraging investment.
However, critics contend that they have exacerbated misery, with food inflation remaining high and poverty pervasive.
“We are proud of the progress being made under President Tinubu’s leadership.
“Atiku and his allies may choose to ignore these gains, but Nigerians can see and feel the positive changes taking place across the nation,” Onanuga stated.
