Posted by Chinenye on Fri 29th May, 2026 - tori.ng
A strong political defense has emerged from within the presidency as Bayo Onanuga backs the sweeping economic decisions of President Bola Tinubu, insisting the controversial reforms were necessary to prevent a deeper national collapse.
(Bayo Onanuga. Photo Credit: Vanguard News)
President Bola Tinubu's Special Adviser on Information and Strategy, Bayo Onanuga, has come out strongly in defense of the administration's economic policies, arguing that the reforms though painful were essential to pulling Nigeria back from the brink of fiscal collapse.
In an article titled after the president's willingness to absorb political pain for the country's survival, Onanuga acknowledged that the reforms have been difficult but maintained they were unavoidable given the state of the economy Tinubu inherited.
He described that inheritance as a deeply troubled one marked by widespread fuel scarcity, a distorted multiple exchange rate system, crippling debt servicing obligations, dwindling government revenues, and an unsustainable fuel subsidy regime.
Onanuga argued that decisions such as removing the fuel subsidy and floating the naira, while unpopular, have yielded concrete benefits particularly in boosting the allocations that state governments receive from the Federation Account, enabling them to fund projects and meet salary obligations.
He also projected that when local government councils begin receiving their allocations directly, the positive impact of the administration's reforms would be felt at the grassroots level across all 774 councils nationwide.
The presidential aide went on to highlight a range of other achievements he attributed to the administration, including a buoyant stock market, ongoing infrastructure projects such as the Lagos-Calabar Coastal Highway, energy sector reforms, the student loan scheme administered through NELFUND, and consumer credit initiatives under CREDICORP.
Onanuga also took aim at opposition politicians, accusing them of ramping up misinformation ahead of the 2027 elections in a bid to obscure what he described as the government's significant accomplishments.
While conceding that insecurity remains an ongoing challenge, he insisted the administration is actively strengthening security operations and deepening international cooperation in that regard, and expressed confidence that the Tinubu government will ultimately be remembered for driving transformative reforms in Nigeria.