The Presidency on Monday dismissed former Vice President Atiku Abubakar’s warning that worsening hunger could trigger unrest similar to the French or Russian revolutions.
In a statement signed by Special Adviser to the President on Information and Strategy, Bayo Onanuga, the Presidency described Atiku’s remarks as “cheap talk” and a misrepresentation of Nigeria’s current economic trajectory.
Atiku, who contested against President Bola Tinubu in the 2023 election, had cautioned that rising hunger could fuel mass anger reminiscent of the 1789 French Revolution or the 1917 Bolshevik Revolution.
But Onanuga countered that Nigeria is witnessing tangible improvements under Tinubu’s administration, citing fresh data from the National Bureau of Statistics (NBS) which showed headline inflation easing for the fifth consecutive month in August. He also highlighted a record trade surplus, with non-oil exports now accounting for 48% compared to crude oil’s 52%.
According to the statement, foreign reserves have risen to nearly $42 billion, up from $32 billion when Tinubu assumed office, following the settlement of over $7 billion in arrears, including $800 million owed to foreign airlines.
“Under President Tinubu, Nigeria is recording unprecedented revenues. States 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,” the statement read.
The Presidency accused Atiku and the opposition Peoples Democratic Party (PDP) of ignoring these gains and instead clinging to “doomsday scenarios” rooted in economic mismanagement during their years in power.
“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,” Onanuga added.
Since assuming office two years and five months ago, Tinubu has embarked on sweeping reforms, including the removal of fuel subsidies and unification of exchange rates. Officials argue that these measures are stabilising public finances and attracting investment, although critics contend they have worsened hardship, with food inflation still high and poverty widespread.
“We are proud of the progress being made under President Tinubu’s leadership. Atiku and his allies may choose to ignore these gains, but Nigerians can see and feel the positive changes taking place across the nation,” the Presidency said.
