Presidency Tells Nigerians: Don’t Be Discouraged by Negative Global Reports—Things Are Starting to Improve

The Presidency has urged Nigerians not to be discouraged by negative reports from international organisations about the state of the country’s economy and poverty levels. According to the government, economic reforms introduced under President Bola Tinubu’s administration are beginning to show promising signs of improvement, despite current hardships.

Speaking on behalf of the government, Special Adviser to the President on Information and Strategy, Bayo Onanuga, addressed concerns raised by citizens who say they have become poorer since the start of the administration. He acknowledged that inflation has affected many Nigerians but stressed that the tough economic conditions are part of the short-term effects of much-needed reforms.

“Inflation has increased, yes, but this is a temporary result of the bold decisions we had to make to fix the economy. We are already beginning to see positive changes. For instance, prices of major food items like rice and beans have started to come down,” Onanuga said.

He explained that the government is not leaving vulnerable citizens behind. Millions of households, he said, are now benefiting from the Conditional Cash Transfer programme, which provides direct financial support to the poorest Nigerians. This is part of a wider plan to reduce the impact of reforms while building a stronger and more inclusive economy.

Onanuga also highlighted progress in other areas. He noted that Nigeria’s economic indicators are showing signs of recovery. Government revenue has grown sharply, with over N6 trillion earned in the first quarter of the year. States are receiving larger allocations, helping them to pay salaries and meet other financial obligations. Meanwhile, the Nigerian Stock Exchange has experienced strong growth, with the All-Share Index jumping from 50,000 points to over 110,000 in just two years.

He added that businesses initially affected by policy changes are beginning to recover, while money that used to be spent on fuel subsidies and foreign exchange loopholes is now being redirected to major infrastructure projects. Projects like the Lagos-Calabar and Sokoto-Badagry highways, he said, are expected to create jobs and stimulate long-term economic growth.

While admitting that many challenges remain, Onanuga said the government is actively working on both short-term relief and long-term solutions. “We know people are struggling, and we are not ignoring that. But change takes time, and the important thing is that we are moving in the right direction.”

He called on Nigerians to support each other and not rely solely on international opinions when judging the country’s progress. “Tackling poverty is a shared responsibility. Government alone can’t do it. The private sector and privileged individuals must also step up. In line with our African values, we should look out for one another,” he said.

In closing, Onanuga urged Nigerians to stay hopeful and focus on the gains being made. “Let’s not be swayed only by negative global reports. Look at the efforts being made here at home. These reforms are necessary, and while the road is not easy, we are starting to see the benefits.”