The Nigerian Presidency states that the economy is improving under President Bola Tinubu. Bayo Onanuga, the President’s adviser, responds to concerns raised by the Catholic Bishops, citing enhancements in security and the economy since Tinubu’s tenure. The administration emphasizes youth employment initiatives and the impact of substantial investment in infrastructure, despite acknowledging persistent challenges.
On Monday, the Nigerian Presidency expressed confidence that the economy is progressing positively under President Bola Tinubu’s leadership. This assertion was made by Bayo Onanuga, the Special Adviser to the President on Information and Strategy, in response to concerns raised by the Catholic Bishops’ Conference during their plenary meeting in Abuja.
In his statement, Mr. Onanuga highlighted remarks made by Archbishop Lucius Iwejuru, who identified major issues such as youth unemployment, insecurity, and corruption affecting Nigeria. Onanuga acknowledged the Bishops’ interventions in governance, while stating that despite some persisting challenges, significant advancements have been achieved since Tinubu’s administration began.
The adviser emphasized that the security situation has improved, with over 8,000 criminals eliminated and more than 10,000 individuals rescued. This enhanced security allows farmers in areas like Kaduna and Kebbi to resume their agricultural activities, leading to increased food production and lower prices of essential goods.
Regarding the economy, Onanuga noted that the situation has stabilized, with improvements in balance of trade, foreign reserves, and inflation rates. He underscored the progress made in local refining capacities, highlighting the operational statuses of Dangote and NNPCL refineries.
To address youth unemployment, Tinubu’s administration has initiated several programs aimed at creating over 10 million jobs by enhancing youth skills and creativity through initiatives such as 3MTT, NATEP, and the Nigerian Youth Investment Fund. Furthermore, the government is mobilizing increased local revenue for crucial development projects.
Investments in infrastructure have also surged, with Nigeria’s budget for 2025 reaching a historic N54.9 trillion, aimed at revitalizing the economy. Onanuga noted the recognition from international bodies, such as Chatham House, praising the current economic reforms, which have made Nigeria’s economy competitive in the last quarter-century.
In summary, while acknowledging the ongoing challenges faced by Nigerians, the government remains optimistic regarding the reforms implemented and their impact on national prosperity. Tinubu’s administration is committed to fostering positive developments for a stronger Nigeria.
In conclusion, the Nigerian Presidency, represented by Bayo Onanuga, asserts that the economy is moving in a positive direction under President Bola Tinubu’s administration, despite the challenges outlined by the Catholic Bishops’ Conference. Key improvements in security, economic stability, and youth employment initiatives are highlighted as indicators of progress. The administration expresses confidence in sustaining this momentum to create a more prosperous future for Nigeria.
Original Source: www.premiumtimesng.com
