ATIKU’s economic analysis is unrealistic – ONANUGA

Monday, November 11, 2024 - Bayo Onanuga, Special Adviser on Information and Strategy to President Bola Tinubu, has strongly criticized former Vice President Atiku Abubakar over his repeated disapproval of Tinubu’s economic policies. 

Onanuga’s comments come in response to Atiku’s recent statements condemning the administration’s economic direction and proposing alternative reforms.

In May, Atiku had stated that Nigeria's economy has deteriorated under Tinubu, falling short of the high expectations held by citizens. He accused the President of implementing a "cocktail of policies" without clear plans to achieve the economic transformation promised during his campaign. Earlier this month, the former presidential candidate of the Peoples Democratic Party (PDP) outlined reforms he would have prioritized if he were president.

In a statement on Sunday, , November 10, Onanuga dismissed Atiku’s criticisms, asserting that they lack “realistic alternatives.” He argued that the Tinubu administration has made substantial progress, particularly in revenue generation, and expected commendation from Atiku for these achievements.

“We expect Atiku to commend what the Tinubu administration has done concerning revenue generation for the Federation,” Onanuga said. “Without factoring in oil sales, revenue proceeds generated by the Federal Inland Revenue Service almost doubled in the first half of 2024, compared with the level Tinubu met in 2023.”

Onanuga added that state and local governments have benefited from these economic gains. “The states and councils are more prosperous because of it, as many states have increased the minimum wage for their workers to between N70,000 and N85,000,” he noted.

In reference to Tinubu’s controversial removal of the fuel subsidy, Onanuga argued that Atiku has not criticized this policy, acknowledging its necessity. “Notably, while Atiku peddles his economic fantasies, he has yet to denounce President Tinubu’s removal of the fuel subsidy because he knows that the reform was necessary and correct. We can only urge him to purge himself of the petty, derisive politics of a sore loser,” Onanuga stated.

Onanuga further claimed that Atiku has focused on undermining Tinubu’s administration instead of addressing issues within his own party. “Since his defeat in the last election, former Vice President Atiku Abubakar has shown more interest in undermining President Bola Ahmed Tinubu than in addressing his party’s implosion. We suspect he is envious of Tinubu’s position — an office he has unsuccessfully sought six times.”

Finally, he questioned Atiku’s understanding of Nigeria’s economic realities, stating, “Atiku’s economic analysis demonstrates a significant misunderstanding of Nigeria’s realities. His narrative, ‘What We Would Have Done Differently,’ indicates an inability to engage with the pressing economic realities being revitalized multidimensionally under President Tinubu’s leadership.”