By Duchess Ifeoluwa
The Presidency on Monday dismissed former Vice-President Atiku Abubakar’s criticism of the country’s economic direction, describing his remarks as misleading and disconnected from current realities.
In a statement signed by Special Adviser to the President on Information and Strategy, Bayo Onanuga, the government said Atiku’s claim that hunger was ravaging Nigeria and his comparison of the situation to pre-revolutionary France and Russia bore no relation to the facts.
“Talk is cheap,” the statement read, accusing the former vice-president and his team of being “out of touch with the positive developments currently unfolding in our country”.
Onanuga pointed to fresh data from the National Bureau of Statistics released on Monday showing headline inflation had fallen for the fifth consecutive month.
He added that figures published over the weekend revealed a record trade surplus, with non-oil exports contributing nearly as much as crude oil to the trade balance at a 48 to 52 percent ratio.
According to the statement, foreign exchange reserves have climbed to almost $42 billion, up from $32 billion when President Bola Tinubu assumed office, despite the clearance of more than $7 billion in arrears, including $800 million owed to airlines.
Government revenues were said to be at unprecedented levels, enabling states to pay salaries and gratuities on time while still funding capital and social projects.
“After just two years and five months in office, we are proud of the progress being made under President Tinubu’s leadership,” Onanuga said.
He argued that many of the present economic difficulties stemmed from policies pursued during the Peoples Democratic Party administration in which Atiku served as vice-president, and insisted the current government was “working relentlessly to correct those errors with bold reforms”.
The Presidency maintained that Nigeria was “moving in the right direction” and that citizens could already see and feel the improvements, even if Atiku and his allies “remain stuck in the past, fixated on doomsday scenarios and revolutionary rhetoric”.
Read the statement below:
RESPONSE TO A STATEMENT ISSUED BY FORMER VICE PRESIDENT ATIKU ABUBAKAR ON SEPTEMBER 15
Talk is cheap. Former Vice President Atiku Abubakar and his handlers are clearly out of touch with the positive developments currently unfolding in our country.
Their claim that hunger is ravaging Nigeria, and their comparison of our situation to the unrest in France before the 1789 Revolution or the 1917 Bolshevik Revolution in Russia, is grossly misleading.
Their latest statement demonstrates a disconnect from the authentic Nigerian reality, as recent data tells a different story. Just today, the National Bureau of Statistics (NBS) released its figures for August, showing that headline inflation has declined for the fifth consecutive month. Over the weekend, the NBS also reported a record trade surplus, with the contribution of non-oil exports to our trade balance now nearly matching that of crude oil at a ratio of 48:52 per cent.
Our foreign exchange reserves are on the rise, now approaching $42 billion. When President Tinubu assumed office, reserves stood at $32 billion, much of it encumbered. This administration has since cleared over $7 billion in arrears, including $800 million owed to airlines.
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. 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.
After just two years and five months in office, 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.
Bayo Onanuga
Special Adviser to the President on Information and Strategy
September 15, 2025
