Presidency Fires Back at Atiku, Defends Tinubu’s Economic Reforms

The Presidency has strongly rejected claims by former Vice President Atiku Abubakar that the Tinubu administration is engaging in fiscal recklessness, insisting that Nigeria’s economy is showing signs of recovery following a series of major reforms. Officials argued that Atiku’s criticism relies on outdated economic figures that do not reflect current realities.

In a statement issued by Presidential Adviser on Information and Strategy, Bayo Onanuga, the government maintained that key economic indicators have improved since the implementation of reforms. According to the Presidency, Nigeria has witnessed growth in both dollar-denominated and naira-based Gross Domestic Product, alongside stronger revenue generation and reduced pressure from debt servicing obligations.

The statement further argued that borrowing should be assessed based on a country’s ability to manage its debt and the purpose for which funds are used. Government officials noted that Nigeria’s debt-to-GDP ratio remains relatively moderate compared to several other economies and claimed that the debt service-to-revenue ratio has declined significantly in recent years.

Defending the removal of fuel subsidy, the Presidency said the policy has increased revenue available to states and local governments, allowing them to spend more on infrastructure, healthcare, education, salaries, pensions, and social welfare programmes. It described the subsidy regime as a long-standing burden that previous administrations failed to address effectively.

On taxation, the government stated that ongoing reforms are designed to create a fairer system by easing the burden on low-income earners and small businesses while improving compliance among higher-income individuals and profitable enterprises. The Presidency also highlighted investments in healthcare, education, and social programmes as evidence that reform-generated revenues are being directed toward public services.

Responding to allegations of an unaccounted oil revenue windfall, the Presidency dismissed the claims as inaccurate, explaining that fluctuations in production levels, operational costs, and existing crude oil agreements affect government earnings. It maintained that the reform agenda is aimed at strengthening economic stability and long-term growth, while calling for public debate to be based on current facts and measurable outcomes rather than outdated data.