Presidency Rebuts Atiku, Defends Tinubu’s Economic Reforms
The Presidency has dismissed criticisms by former Vice President Atiku Abubakar over the Tinubu administration’s economic policies, insisting that Nigeria’s reforms are yielding measurable gains despite the initial hardships they imposed on citizens.
In a statement issued on Sunday, Special Adviser to the President on Information and Strategy, Bayo Onanuga, accused Atiku of relying on outdated 2024 economic data to assess reforms that have continued to evolve into 2026.
According to the Presidency, the economy has recovered significantly since the exchange-rate reforms, with Nigeria’s dollar-denominated Gross Domestic Product (GDP) rising from about $253 billion after the currency adjustment to approximately $377 billion, while naira GDP increased from about ₦314 trillion in 2024 to around ₦530 trillion.
The statement also rejected claims that the Federal Government was engaging in excessive borrowing, arguing that Nigeria’s debt remains sustainable with a debt-to-GDP ratio of about 40 per cent, lower than that of many emerging and advanced economies.
On fuel subsidy removal, the Presidency maintained that ending the subsidy had significantly increased allocations to states and local governments, enabling greater investment in roads, healthcare, education, salaries and other public services.
Responding to Atiku’s criticism of the administration’s tax reforms, Onanuga said the new tax regime was designed to protect low-income earners and small businesses while ensuring wealthier individuals and profitable companies contribute a fairer share through improved tax compliance.
The Presidency further highlighted achievements in healthcare, stating that more than 3,000 primary healthcare centres had been revitalised, over 78,000 frontline health workers retrained, and free caesarean services expanded for indigent women in more than 100 public health facilities. It also noted that three new cancer centres are operational in Kubwa, Enugu, and Katsina.
In education, the statement said over 11,000 projects had been implemented through the Universal Basic Education Commission (UBEC), while the Nigerian Education Loan Fund (NELFUND) has provided loans worth over ₦303 billion to more than 1.64 million students across 300 higher institutions.
The Presidency also rejected Atiku’s claim of a ₦7.98 trillion oil windfall, describing the calculation as misleading because it ignored production shortfalls, production costs, oil companies’ shares, and existing crude-backed financing obligations.
While acknowledging that the reforms had imposed significant short-term hardships, the Presidency argued that they were necessary to correct long-standing structural distortions in the economy.
It added that inflation, which eased to 14.4 per cent in November 2025 before rising to 15.91 per cent due to the Middle East conflict, is expected to decline further as reforms continue to take effect.
The statement reaffirmed the administration’s commitment to sustaining the reforms and expanding social intervention programmes, including the NG-CARES, HOPE, and SOLID initiatives, alongside cash transfers targeting 15 million vulnerable households.
The Presidency concluded that President Bola Tinubu’s economic agenda is aimed at strengthening institutions, improving public finances, and laying the foundation for long-term growth, while dismissing Atiku’s criticisms as politically motivated.
