Bayo Onanuga, the Special Adviser to President Bola Tinubu on Information and Strategy, has strongly criticized former Vice President Atiku Abubakar for what he describes as the promotion of “economic fantasies” and engagement in petty political tactics.
Onanuga’s comments came on Sunday in the midst of ongoing tensions between the presidency and Atiku, who recently presented his suggestions on how to address Nigeria’s pressing economic challenges.
The exchange between the two figures escalated the previous week when Atiku expressed that he could not feel envy towards President Tinubu, accusing the latter’s policies of causing hardship for the Nigerian people. This remark sparked further contention, prompting Onanuga to dismiss Atiku’s criticisms as unfounded and disconnected from reality.
Onanuga emphasized that Atiku’s criticisms were nothing more than “harebrained propositions,” offering no practical or workable alternatives to the challenges facing Nigeria. He stressed that Atiku must acknowledge the grave economic mismanagement inherited by the current administration. “The decades of economic neglect that the Tinubu government inherited, along with unsustainable subsidy expenditures that far outpaced government earnings from crude oil, are the core issues,” Onanuga said.
He pointed out that by mid-2023, the cost of importing fuel had reached between N500 and N600 per liter, while it was still being sold nationwide at an average of N200, creating a significant financial strain. To address this, the 2023 federal budget allocated a staggering N3.36 trillion for fuel subsidies up until June, which was far beyond the N2.23 trillion in oil revenue the government projected for the same period. According to Onanuga, the Nigerian economy was essentially “on life support” under the previous administration.
Onanuga went on to highlight the positive strides the Tinubu administration has made in generating revenue for the country, stressing that Atiku should be acknowledging these efforts instead of continuing to offer vague critiques. “In the first half of 2024, revenue generated by the Federal Inland Revenue Service (FIRS) nearly doubled compared to the same period in 2023. This increase has directly benefited the states and local councils, with many states raising the minimum wage for their workers to between N70,000 and N85,000,” he said.
Onanuga also dismissed Atiku’s proposal to privatize Nigeria’s four government-owned refineries, pointing out that these refineries collectively can only meet a small fraction of the nation’s daily fuel needs. He called the proposal “lacking originality,” and criticized Atiku for offering no substantial alternatives to the reforms that President Tinubu has implemented.
Finally, Onanuga advised Atiku to focus on restoring his reputation as a respected statesman, rather than engaging in political jabs that contribute little to solving the country’s economic problems. He concluded that while the Tinubu administration continues to push forward with decisive economic reforms, Atiku’s proposals remain vague and unhelpful in addressing Nigeria’s complex challenges.
