33 governors are right to support Tinubu, says Onanuga

The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, has defended the President’s economic record. He said that 33 state governors cannot be wrong in backing his administration.

Onanuga mentioned falling food prices, rising foreign reserves, better access to foreign exchange, and renewed foreign investment as proof of progress under Tinubu, who became president in May 2023.

He made these comments in a post on X on Friday. This was in response to a clip shared by Arise Television featuring Obafemi George, a member of the Media and Strategic Communications Committee of the All Progressives Congress Presidential Campaign Council.

Onanuga criticized TV hosts for questioning the country's economic progress. He accused them of pushing the opposition's view that nothing has improved since Tinubu took office. He said, “TV anchors keep pushing the opposition’s narrative that nothing has changed, positively, indeed, massively, since 2023.”

He added, “Their position has become so ridiculous that they keep parroting the old narrative, and now they question the NBS data on receding inflation. I will advise them to revisit the markets.”

Onanuga pointed out the cost of staple food. He claimed that the price of a bag of rice had dropped from about N120,000 to below N50,000. He noted that it sold for N45,000 in his hometown.

“The favourite rice that at a time was selling for N120k a bag has crashed below N50k. In my hometown, a bag now sells for N45K,” he stated.

He argued that the drop in food prices and inflation showed that the administration’s economic policies were beginning to work. He urged TV presenters questioning the numbers to check prices in local markets.

Onanuga also highlighted Nigeria’s foreign reserves and the fact that Nigerians can now use naira-denominated bank cards abroad. He said these are signs of improvement in the economy.

“Our reserves are close to $60 billion. Nigerians are now able to use their Naira cards abroad, something that was impossible before Tinubu’s presidency,” he said.

He added that business owners can now get foreign exchange to import raw materials and equipment. He said this would help businesses operate better and support economic activity.

Onanuga disagreed with claims that investors returning to Nigeria are mainly portfolio investors. He argued that foreign direct investment is also coming into the country and creating jobs.

“Investors are coming back, not mainly as portfolio investors, as some anchors claim. Even though Nigerians dominate the stock market, accounting for almost 90 percent, these investors belong in the category of FDI. They bring money into our economy and create jobs,” he wrote.

Onanuga said the backing of 33 governors for Tinubu shows confidence in the President’s leadership and economic direction.

“Thirty-three governors cannot be wrong in casting their support for President Tinubu,” he said.

He ended by accusing the President’s critics of letting political bias cloud their view of the administration’s performance.

“These facts are clear to anyone not blinded by partisanship and hatred for the leader who has laid a solid foundation for the economy and is poised to take the nation to a higher level of shared prosperity,” he added.