“The truth is that the new policies alone are not solely responsible for the economic problems we are facing today,” said the president’s special adviser on information and strategy. “We were destined for the tough and rough patch, where we are today because of the prevailing conditions before Tinubu took over on May 29.”

Mr Onanuga stated this in a statement on Saturday in Abuja.

‘”As of June 2023, the budget deficit was N10.8 trillion. Actual debt service was 98.95 per cent of revenue, far higher than the projected 59.37 per cent. Inflow into the country’s foreign reserve came in trickles.

‘’And so bad was the state of affairs that Nigeria could not remit about $800 million fund of foreign airlines,” the presidential aide stressed.

He added, “JP Morgan exposed our near insolvency by claiming in a report that our net foreign reserve was just about $3.7 billion, not the $33 billion plus flaunted by Emefiele’s CBN.

“President Tinubu, who promised during the campaign to take hard and difficult decisions, moved to tackle the economic problems from day one, by first dispensing with the wasteful fuel subsidy that was billed to consume about N7trillion this year, five times more than what was provisioned for capital spending.”

He said Mr Tinubu had never shied away from acknowledging the temporary pains triggered by the reforms, stressing that proactive measures would continue to be taken.

Mr Onanuga pointed out that many of these measures “are already being taken and in the New Year, we expect the silver linings, that are at present understated, to blossom into rays of sunshine to be experienced by all Nigerians,” citing the removal of fuel subsidy and the move to merge foreign exchange rates, “two headline reforms introduced by the Tinubu administration since late May.”


https://gazettengr.com/nigerians-destined-for-hardships-tinubu-policies-not-sole-cause-of-economic-problems-presidency/

I don't blame you cos you feed fat on tax payers money and the people are so dumb to ask questions.

Should Tinubu continue borrowing for consumption, even when lenders are no more available

Or

We look inwards, fix refinery, reduce luxury item importation


.

When criminals are in power this is what we get.

Mr onanuga sits on a throne of lies.

I don't even understand the content of the thread, what i was able to decipher is that, tinubu is beginning to feed us with flimsy excuses the same way his predecessor muhammadu buhari did for 8 consecutive years

Melagros:
I don't even understand the content of the thread, what i was able to decipher is that, tinubu is beginning to feed us with flimsy excuses the same way his predecessor muhammadu buhari did for 8 consecutive years

It is the lazy ones like yourself that will be listening to them, & waiting for miracles, without no realistic plan to help themselves.

Same Tinubu you were mocking when he declared that he will run for the top seat?

An Almijiri will be waiting for Federal Government intervention in his life, yet he lives in a Local Government within a State?

You want the FG in Abuja to create opportunities for you based on the comparative advantages of your Local Government, best believe you will remain in the pit wailing.

Who is this amateur analyst?

Javier Milei has been President of Argentina for less than 2 weeks and has reduced the size of the government by more than 50%, repealed 380 laws, and legalized competing currencies. Well, he told us he would.

A lot of resistance from the “Entitled Class” (unions, politicians, government employees) but a lot of support from citizens! Very interesting times !!!!

I am genuinely curious to witness the outcome of this situation. It was inevitable that some changes had to be made, and he is remaining faithful to his commitments. However, I find myself pondering the potential consequences of this extensive reform. Will there no longer be a Ministry of Education? If so, what will determine the content of the curriculum? Moreover, how will schools acquire the necessary finances to sustain their operations? I am observing these developments with great interest.

The President can change the trajectory of the country in a month if he knows what he is doing. Tinubu seems to be clueless and his steps backfired instead of producing positive results. Nobody asked Tinubu to pull down the building (Nigeria) and make the citizens homeless with his approach to removing subsidy and floating the exchange rate. President Tinubu was required to repair (fix) the building (Nigeria) as we are living in the house.

During his radio appearance today, Argentine President, Milei made several key points. He expressed concern over the increasing number of regulations hampering the economy and restricting personal freedom. He described the proposed package as one that prioritizes market-friendly policies, aimed at benefiting all Argentinians rather than just a select few. While acknowledging his personal reservations about certain aspects of the package, Milei stressed the urgent need for action, emphasizing the dire consequences of inaction, such as catastrophic hyperinflation. Additionally, he emphasized the importance of comprehending the price system to navigate the future economy successfully.

Suffer no Dey kuku tire my ppl

Lol

favor914:
It is the lazy ones like yourself that will be listening to them, & waiting for miracles, without no realistic plan to help themselves.

Same Tinubu you were mocking when he declared that he will run for the top seat?

An Almijiri will be waiting for Federal Government intervention in his life, yet he lives in a Local Government within a State?

You want the FG in Abuja to create opportunities for you based on the comparative advantages of your Local Government, best believe you will remain in the pit wailing.

Favour, you called me lazy, do you know me in person? Do you know my background? Or do you know my story?

Tinubu should resign already before the masses use him to sweep the streets of Abuja
2024 is going to be a year of BLACK AFRICAN REVOLUTION!
From Xauro to Cape Town, things are going to happen., be prepared.