The Nigerian Presidency reports positive developments in the economy and security under President Bola Tinubu. Special Adviser Bayo Onanuga addressed concerns raised by the Catholic Bishops’ Conference, emphasizing substantial progress in various sectors while acknowledging existing challenges. Initiatives aimed at youth employment and growth, including a significant budget for 2025, demonstrate the administration’s commitment to national development.
The Nigerian Presidency affirmed that the nation’s economy is advancing positively under President Bola Tinubu’s administration. Mr. Bayo Onanuga, the Special Adviser to the President on Information and Strategy, made this statement in response to concerns raised by the Catholic Bishops’ Conference regarding the state of the economy and governance during their plenary meeting in Abuja.
Onanuga dismissed the conference’s assessment as overly pessimistic and outdated. He acknowledged the Bishops’ focus on pressing issues such as youth unemployment, insecurity, poverty, and corruption, which he believes require urgent attention from national leaders to prevent deterioration of the situation.
He expressed appreciation for the Bishops’ engagement in national governance issues and highlighted the government’s recognition of their role in promoting peace and unity. Although the challenges noted by the Bishops persist, Onanuga emphasized that significant progress has been made in various sectors since the President took office 22 months ago.
Notably, he reported improvements in security, stating that Nigeria is currently safer than in 2023, with military efforts leading to the elimination of over 8,000 criminals and the rescue of more than 10,000 individuals, primarily women and children.
The agricultural sector has also benefited from enhanced security, demonstrating increased food production and subsequently lower prices of essential commodities. Farmers in regions such as Kaduna, Kebbi, and Jigawa are experiencing economic revival, attributed to a secure environment for agricultural activities.
On economic stability, Onanuga highlighted the administration’s success in ameliorating the economy from the challenges it faced. Key indicators such as trade balance, foreign reserves, and inflation rates have improved, alongside a strengthening currency.
Significantly, the local refining sector has seen notable development with the launch of Dangote Refinery and other facilities. In addressing youth employment, the Tinubu administration has initiated several programs aimed at creating over 10 million new jobs for the youth, enhancing their talents, creativity, and productivity.
Furthermore, government revenues have increased to support vital development projects. The unprecedented budget of N54.9 trillion for 2025 is aimed at fostering economic growth and development in areas like infrastructure, healthcare, and education.
Onanuga mentioned that institutions such as Chatham House have acknowledged the current administration’s economic reforms, stating that the Nigerian economy has become the most competitive in 25 years under Tinubu’s leadership. Despite ongoing challenges faced by many Nigerians, Onanuga remains optimistic about the government’s direction and its efforts towards a prosperous future for the nation.
In summary, the Nigerian Presidency, via Mr. Bayo Onanuga, asserts that the country is progressing under President Bola Tinubu’s leadership, citing advancements in security, economic stability, and youth employment initiatives. The government’s initiatives are aimed at addressing various pressing issues while setting the stage for future growth. Both local and international observers recognize the positive trajectory of Nigeria’s economy, inducing further optimism for its inhabitants’ prosperity.
Original Source: nannews.ng
