Economy: Atiku’s claims a disconnect from ‘authentic Nigerian reality’ –Presidency

*The Nigerian Presidency describes former Vice-President Atiku Abubakar’s latest statement on the economy as a disconnect from ‘the authentic Nigerian reality’

Alexander Davis | ConsumerConnect

The Nigerian Presidency has described former Vice-President Atiku Abubakar’s latest pronouncement on the economy as a disconnect from “the authentic Nigerian reality”.

The Federal Government said recent statistics, however, tell a different narrative about socioeconomic developments in the West African country.

Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, who issued a rejoinder to Atiku’s recent statement Monday, September 15, 2025, stated: “Talk is cheap. Former Vice-President Atiku Abubakar and his handlers are clearly out of touch with the positive developments currently unfolding in our country.”

The government insisted that their claim that hunger is ravaging Nigeria, and their comparison of the country’s situation to the unrest in France before the 1789 Revolution or the 1917 Bolshevik Revolution in Russia, “is grossly misleading.”

Onanuga also stated: “Their latest statement demonstrates a disconnect from the authentic Nigerian reality, as recent data tells a different story.

“Just today, the National Bureau of Statistics (NBS) released its figures for August, showing that headline inflation has declined for the fifth consecutive month.”

The Presidential aide also explained: “Over the weekend, the NBS also reported a record trade surplus, with the contribution of non-oil exports to our trade balance now nearly matching that of crude oil at a ratio of 48:52 percent.

“Our Foreign Exchange (Forex) reserves are on the rise, now approaching $42 billion.”

The statement further noted: “When President Tinubu assumed office, reserves stood at $32 billion, much of it encumbered.

“This administration has since cleared over $7 billion in arrears, including $800 million owed to airlines.”

It stated that Under President Bola Ahmed Tinubu, Nigeria is recording “unprecedented revenues”.

“9States are now able to pay salaries and gratuities promptly and still have surplus funds for capital and social projects—an achievement not previously witnessed at this scale.

“Nigeria is moving in the right direction. In contrast, Atiku and his party remain stuck in the past, fixated on doomsday scenarios and revolutionary rhetoric,” Onanuga asserted.

According to him, “ironically, many of the challenges we face today stem from the economic mismanagement during the PDP years, when Atiku was Vice-President. President Tinubu and his team are working relentlessly to correct those errors, with bold reforms.”

The Presidency said after just two years and five months in office, “we are proud of the progress being made under President Tinubu’s leadership.”

The statement added: “Atiku and his allies may choose to ignore these gains, but Nigerians can see and feel the positive changes taking place across the nation.”

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