The Special Adviser to the President on Information and Strategy, Bayo Onanuga, has claimed that President Bola Tinubu saved Nigeria from economic recession in 2023.
Onanuga claimed while reacting to the 2023 Presidential candidate of the Peoples Democratic Party, Atiku Abubakar, on his claim that Tinubu’s policies are anti-people.
Atiku had criticised Tinubu’s economic reforms for allegedly creating pain and despair for Nigerians.
Reacting to the former President, Onanuga said Tinubu’s recent economy reforms on fuel subsidy removal and Naira floating are steps in the right direction.
The Presidential aide further explained that the 2023 budget, with 97 per cent of revenue, was spent on debt servicing, foreclosing economic growth, and job creation.
“The national budget Tinubu met in 2023 showed that 97 per cent of revenue was to be spent on debt servicing, with little reserved for capital, thereby foreclosing growth and jobs.
“Confronted with this grim economic reality, President Tinubu faced a difficult choice of balancing reforms’ political and economic costs against the risks of economic recession. His government chose the former to keep the economy afloat and set it back on the path of growth and prosperity”, Onanuga said.