Tinubu insists economic reforms are working, opposition kicks

• Onaiyekan: ‘If Tinubu continues like this, he won’t win free, fair election’
• Buhari hails President, urges Nigerians to be patient with reforms

The Peoples Democratic Party (PDP), former Vice President Atiku Abubakar, and others, have launched a scathing critique of President Bola Ahmed Tinubu’s administration as it marks its second anniversary in office.

Tinubu, however, lauded the progress of his government, affirming that economic reforms are yielding positive results. Speaking on the milestone, he declared, “I proudly affirm that our economic reforms are working. We are on course to building a greater, more economically stable nation.”

The president outlined the accomplishments under his Renewed Hope Agenda, emphasising the administration’s commitment to tackling economic instability, improving security, reducing corruption, reforming governance, and alleviating poverty. Tinubu acknowledged the difficulties faced by Nigerians during the reform period but reiterated that the measures were necessary to avert fiscal collapse.

“The only alternative to the reforms our administration initiated was a fiscal crisis that would have bred runaway inflation, external debt default, crippling fuel shortages, a plunging naira, and an economy in free-fall,” Tinubu stated.

Despite challenges, the president highlighted key achievements. He noted that inflation has begun to ease, with prices of staples like rice declining, while the oil and gas sector has seen a 400 per cent rise in rig counts since 2021 and secured over $8 billion in new investments.

Tinubu pointed out that Nigeria’s fiscal deficit has been significantly reduced, from 5.4 per cent of GDP in 2023 to 3.0 per cent in 2024, through improved revenue generation and financial transparency. He revealed that the government recorded over N6 trillion in revenue in the first quarter of 2025.

“We have discontinued Ways & Means financing, which has been a major contributor to high and sticky inflation. The NNPC, no longer burdened by unsustainable fuel subsidies, is now a net contributor to the Federation Account. We are also achieving fuel supply security through local refining,” he said.

On the country’s debt profile, Tinubu remarked that while foreign exchange revaluation raised the debt-to-GDP ratio to 53 per cent, the debt service-to-revenue ratio had dropped to under 40 per cent by 2024, compared to nearly 100 per cent in 2022. Additionally, the administration paid off International Monetary Fund (IMF) obligations and increased net external reserves from $4 billion in 2023 to over $23 billion by the end of 2024.

MEANWHILE, PDP, in a statement released yesterday through its national publicity secretary, Mr Debo Ologunagba, accused the government of plunging the nation into severe economic and social turmoil. The party highlighted soaring inflation, rising unemployment, and a deteriorating national security landscape.

“Nigerians have gone through hell under the insensitive Tinubu-led APC government, which evidentially holds no good for the citizens,” the PDP declared. “This administration is anti-people and impervious to the suffering of Nigerians.”

The party painted a grim picture of the nation’s current state, citing a surge in petrol prices from N87 per litre under the PDP to over N1,000 per litre, a plummeting naira now trading at over N1,600 to the dollar compared to N167 under previous administrations, inflation nearing 40 per cent, and youth unemployment exceeding 42 per cent.

The statement added, “Food scarcity, widespread poverty, and social unrest are reaching critical levels, while more than 600,000 Nigerians have reportedly lost their lives to insecurity since May 2023.”

The PDP attributed much of the crisis to “asphyxiating policies,” particularly the abrupt removal of petrol subsidies and currency devaluation. The party claimed these measures have crippled the productive sector, destroyed small businesses, and prompted a mass exodus of skilled Nigerians.

“Talented citizens are fleeing. Others are resorting to suicide to escape the agonies inflicted by this government,” the statement lamented.

The party also accused the Tinubu administration of fostering “wholesale corruption, reckless borrowing, and elite excesses.” It pointed to a ballooning national debt now exceeding N182.91 trillion, with an additional request for $24.14 billion (N38.24 trillion) in foreign loans, questioning the lack of visible development resulting from this debt.

Allegations of “oppressive political tactics” were also levelled against the APC, with the PDP accusing the ruling party of attempting to turn Nigeria into a one-party state. The statement criticised the government for squandering public funds on luxury lifestyles while ordinary Nigerians grapple with economic hardship.

“This is a government obsessed with self-indulgence while ordinary Nigerians groan under crushing economic pressure,” the PDP charged.

With President Tinubu expected to address the nation today, the PDP warned against “false performance claims” and political grandstanding that ignore the harsh realities Nigerians face.

“Mr President should take advantage of the remaining two years of his administration to redeem his image,” the PDP advised. “Review the suffocating economic policies, bring down fuel prices, stabilise the naira, and engage competent hands in managing the economy.”

The statement concluded with a rallying call to Nigerians: “Do not lose hope. The platform of the PDP remains open for all well-meaning citizens. Together, we will vote out the APC and its woes in 2027.”

Atiku, opposition coalition lambast Tinubu govt over alleged incompetence
Former Vice President Atiku Abubakar and other opposition figures strongly criticised President Bola Tinubu’s administration, describing it as “one of the most incompetent, disconnected, and anti-people governments in Nigeria’s democratic history.”

In a statement released yesterday by Dr Salihu Lukman, a former Vice Chairman of the All Progressives Congress (APC), North-West, the opposition coalition accused the Tinubu-led government of exacerbating poverty, increasing national debt to unprecedented levels, and prioritising elite interests over the welfare of ordinary Nigerians.

“No previous administration has inflicted this level of hardship on the masses while showing such disregard for transparency, accountability, and responsible leadership,” the statement read. “We are witnessing unprecedented wasteful public spending even as millions of Nigerians struggle to survive.”

Highlighting the 2024 Global Hunger Index, the group emphasised Nigeria’s worsening food insecurity. It revealed that the country now ranks 18th among the most hunger-stricken nations globally, surpassing Sudan as Africa’s epicentre of child malnutrition.

The statement also condemned recent government policies that it claimed disproportionately harm the poor, such as a 75 per cent increase in National Identity Management Commission (NIMC) service fees and significant hikes in public university tuition. “From healthcare to education to identity management, Nigerians are now faced with class-based systems where the wealthy enjoy VIP treatment, and the rest are left behind,” it stated.

The coalition raised concerns over Nigeria’s soaring debt profile under Tinubu, noting that public debt has surged from N49 trillion in 2023 to N144 trillion – a 150 per cent increase – within two years. It warned that additional borrowing requests could push the figure to N183 trillion. “In contrast,” the statement pointed out, “state governments have reduced their debt from N5.86 trillion to N3.97 trillion, highlighting that the Tinubu-led federal government is the main driver of Nigeria’s current debt crisis.”

The coalition criticised the rationale for further borrowing to fund the 2025 budget and cushion the effects of fuel subsidy removal, calling it “weak and dishonest.” It accused the government of a “reckless” approach to subsidy removal, which triggered inflation and worsened economic hardship.

“Today, Nigeria is a nation where the rich get richer, and the poor are punished for trying to survive,” the statement concluded. “This reality cannot and will not be ignored.”

Onaiyekan: ‘If Tinubu continues like this, he won’t win free, fair election’
The Archbishop Emeritus of the Catholic Archdiocese of Abuja, Cardinal John Onaiyekan, has criticised the Tinubu-led administration, stating that the living standards of Nigerians have significantly declined over the past two years.

Speaking yesterday at the Communication Week Public Lecture organised by the National Directorate of Social Communications of the Catholic Secretariat of Nigeria (CSN) in Abuja, Cardinal Onaiyekan warned that if President Bola Ahmed Tinubu continues on the current trajectory, a free and fair election might not favour him in the future.

“My advice for Mr President is to find ways and means of finding out what Nigerians are actually going through, but not from those around him who are always praising him to the skies,” Onaiyekan said.

“He should also know how families are managing with N30,000 salary a month. Since it is the people that he should serve, he should do more to raise the level of well-being of Nigerians. I don’t think we are unfair to government if we say that in the last two years, our level of well-being has crashed considerably.”

Cardinal Onaiyekan expressed concern over the worsening economic hardship, escalating insecurity, and corruption. He urged the President to focus on policies targeting the poor and ensuring improved living conditions.

“The government may say it’s not its fault. The government may say it has done its best, but the government is there to make sure that at least the level of well-being of Nigerians is maintained and, if possible, improved. And I think it is a good time. Two years is halfway through for him to at least try and do that.”

He added: “If he changes gear in that regard and takes policies that really target the poor people of Nigeria, they will remember him favourably. But if he continues like this for the rest of his term, if we have a free and fair election, he will not win because how can the country bring him back if we are not feeling good? So I’m hoping that the people around Mr President will give him that advice.”

Addressing concerns about governance and lingering questions over the last election, Cardinal Onaiyekan stated: “The elections were over two years ago. He doesn’t have to worry again whether he won the election or not. The Supreme Court said he won, so we have agreed now. Now he should just govern, make life as livable as possible for Nigerians, deal with security everywhere, improve the economic level of our people, and fight corruption.”

He also compared the previous administration, noting that President Muhammadu Buhari failed to deliver on key promises during his eight years in office.

“These were the things that his predecessor said he would do. Buhari didn’t do it. Eight years, and we expect him (Tinubu) to do something. So I don’t know any of you who have the possibility to reach him or the courage to tell him, but that is necessary,” Onaiyekan concluded.

Buhari hails President, urges Nigerians to be patient with reforms
Former President Muhammadu Buhari extended warm congratulations to his successor while urging Nigerians to remain patient and resilient in the face of ongoing reforms.

In a statement issued yesterday by his spokesperson, Mallam Garba Shehu, Buhari encouraged citizens to continue supporting the All Progressives Congress government, emphasising that effective leadership is a long-term journey that thrives on unity and endurance.

The former president commended Tinubu for navigating the country through difficult but essential reforms, stressing that “desired changes must not fall victim to nettlesome domestic politics.” He acknowledged the economic strain currently felt by Nigerians, especially the most vulnerable, but stressed that the hardship is not without purpose.

“Reforms take time to yield results. The task of reducing poverty and inflation, which have hit the poorest families the hardest, is immense and must not be left only for the government. The private sector and all of us as citizens must join in all ways we can,” Buhari said.

The former president’s message comes at a time of reflection and challenge for the Tinubu administration, which has launched several ambitious economic and institutional reforms under the Renewed Hope Agenda.

While supporters highlight the groundwork for long-term prosperity, critics have questioned the immediate impact on living standards.

Buhari, who handed over to Tinubu in May 2023, offered a tempered but encouraging outlook.

“Our expectations from our governments should not get heavy,” he cautioned, calling for balanced civic engagement and collective responsibility in nation-building.

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