Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, has defended the Federal Government’s economic policies, insisting that the President made difficult decisions necessary to prevent Nigeria from sliding into fiscal crisis.
In an opinion article titled “Bola Tinubu: the man who took the bullet for Nigeria to survive,” published on Friday, Onanuga accused opposition figures of stepping up what he described as misleading narratives ahead of the 2027 elections despite the administration’s achievements since assuming office three years ago.
President Tinubu, who was inaugurated on May 29, 2023, marked his third year in office on Friday.
According to Onanuga, the administration inherited severe economic challenges, including fuel shortages, multiple foreign exchange rates, weak government revenue, rising debt servicing obligations and an unsustainable subsidy system on petrol.
He said the President’s decision to remove fuel subsidy and allow the naira to float came with hardship but was necessary to stabilise the economy and boost allocations to states and local governments.
“The man who has taken the bullets to make Nigeria survive a fiscal disaster is even more willing to take additional bullets to make all Nigerians safe,” Onanuga stated.
The presidential aide maintained that increased federal allocations had enabled many states to pay workers’ salaries and execute infrastructure projects.
“In every state I have visited, I have seen this development. Ogun, my state, Oyo, Nasarawa, Enugu, Ebonyi, Kaduna, Kano, Kebbi, Katsina, and others have witnessed development projects spring up, thanks to President Tinubu’s re-engineering of the federation’s finances and increased allocation to the states.
“When local councils begin to receive their allocations directly from the Federation Account, the Tinubu effect will ensure that more governance cascades down to the 774 local councils,” he said.
Onanuga also referenced comments by governors from Kwara, Ebonyi, Enugu and Nasarawa states, who he said had openly acknowledged the gains from the administration’s reforms.
“Many opposition PDP governors who joined the APC did so for this reason—not for the baseless claim that President Tinubu bribed them. Governor Abdulrazak said in December 2024 that his administration embarked on more projects in the first 18 months of Tinubu’s presidency than in his first four years.
“The Governor of Ebonyi, Nwifuru, who is building iconic underpasses and overpasses in Abakaliki, credited his ambition to President Tinubu. Governor Peter Mbah similarly attested to this, crediting the Naira rain from the centre for his programmes.
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“And Nasarawa State Governor Abdullahi Sule, who understands how Tinubu’s financial re-engineering and the end of the subsidy regime have increased the states’ fortunes, said President Tinubu ‘has taken the bullets for all of them.’”
Onanuga further claimed that the Nigerian stock market had recorded significant growth under the current administration, noting that the All-Share Index rose from roughly 53,000 points in May 2023 to about 250,000 points, while market capitalisation increased from N30tn to N160tn.
He also highlighted ongoing infrastructure projects such as the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Super Highway, describing them as among the largest road projects undertaken since Nigeria gained independence.
The presidential spokesman added that the government had expanded rail transport, introduced reforms in the oil and gas sector, widened access to student loans through NELFUND and launched consumer credit programmes under CREDICORP.
He said efforts were also being made to improve electricity supply through upgrades to the national grid, metering initiatives and plans to clear outstanding debts owed to power generation companies.
While admitting that insecurity remained a serious concern, especially in areas affected by banditry and terrorism, Onanuga said the administration continued to provide security agencies with equipment and strengthen international partnerships to tackle the threats.
He added that future historians would remember the Tinubu administration for implementing “historic reforms” and delivering infrastructure projects aimed at transforming the country’s economy.