The Presidency on Monday said the Nigerian economy was moving in the right direction under the administration of President Bola Tinubu.
Mr Bayo Onanuga, Special Adviser to the President, Information and Strategy, said this in reaction to remarks by the Catholic Bishops’ Conference, at its first plenary meeting of 2025 in Abuja at the weekend.
Onanuga said the conference, “gave an alarming prognosis of the state of the economy and the polity that sounded more like snippets from an outdated book.
“In his opening address, CBCN President Archbishop Lucius Iwejuru, listed youth unemployment, insecurity, poverty, corruption, and electoral fraud as some of the ills plaguing the country.
“He demanded quick action from leaders nationwide to stop the country from drifting.”
The Presidential aide said, in a statement, that Tinubu appreciated the constant interventions of the Catholic Bishops in matters of governance in the country.
“The Conference of Catholic Bishops’ patriotic fervour and commitment to national unity, peace, and stability are unassailable and deeply valued and respected by the government.
“While some of the governance challenges in the areas highlighted by the Bishops remain, it is important to state categorically that our country has made tremendous progress in all areas since Tinubu assumed office 22 months ago.
“In terms of insecurity, Nigeria is more secure today than it was in 2023, thanks to our military and other security agencies and the strong leadership provided by President Tinubu as the Commander-in-Chief,” he said.
According to him, in the last two years, over 8,000 criminals – bandits, armed robbers, Boko Haram terrorists, and kidnappers – have been eliminated, and over 10,000 Nigerians – primarily women and children have been rescued from their abductors.
“As a result of improved security in our communities, especially in the North-West and the North-East, farmers have returned to their farms, and our country has seen increased food production, which is currently driving down prices of essential commodities.
“Farmers in Kaduna, Kebbi and Jigawa are eloquent testimonies of the improved security ambience.
“Similarly, farmers growing cash crops in many parts of the country are experiencing a new life of boom and prosperity,” said Onanuga
On the economy, he said Tinubu’s administration had stabilised the economy from the precarious situation it inherited on assumption of office.
“Our balance of trade has improved, foreign reserves are in a stronger position, inflation has moderated, our currency is gaining strength against convertible currencies.
“Our local refining capacity has tremendously increased on the back of Dangote Refinery and NNPCL Refineries in Port Harcourt and Warri, going on stream.
“Realising the importance of youth to national development and economic growth, President Tinubu’s administration has designed programmes that will catalyse youth employment, enhance their capability, and harness their ingenuity, creativity, and talents for better productivity.
“These programmes, including 3MTT, NATEP, LEEP, IDiCE, NiYA, and the Nigerian Youth Investment Fund, were designed to create over 10 million new jobs for young people,” continued the Special Adviser.
He said that more than ever, the country had increased revenue collection and was mobilising more local revenue to fund critical development priorities.
“Under President Tinubu, Nigeria spends more on economic and social infrastructure such as roads, power, healthcare, education, and security.
“The unprecedented N54.9 trillion 2025 budget is designed to revitalise the economy and set it on a new growth trajectory.
“Local and international institutions have continued to praise the Tinubu administration’s implementation of necessary reforms,” Onanuga pointed out.
He added that last week, Chatham House, a United Kingdom International Affairs policy think tank, praised President Tinubu’s team’s economic management.
“In an article, Chatham House said Nigeria’s economy had been most competitive under President Tinubu in 25 years due to his reforms.
“While we agree that many Nigerians still face difficulties, we remain convinced that the government is making the right decisions to lead to a better and more prosperous country.
“President Tinubu and his team will continue to work very hard, on behalf of our compatriots, to deliver the promise of a greater and stronger Nigeria.
“The Tinubu administration is optimistic about the future and the ongoing positive changes,” he stated. (NAN)
