Abuja: The Presidency on Monday asserted that Nigeria’s economy is progressing positively under President Bola Tinubu’s administration. This statement came as a response to the Catholic Bishops’ Conference during its first plenary meeting of 2025 in Abuja over the weekend.
According to News Agency of Nigeria, Mr. Bayo Onanuga, Special Adviser to the President on Information and Strategy, addressed the concerns raised by the Catholic Bishops’ Conference, which had expressed apprehensions about the state of the economy and the political landscape. Archbishop Lucius Iwejuru, president of the CBCN, highlighted issues such as youth unemployment, insecurity, poverty, corruption, and electoral fraud, calling for immediate action from national leaders to prevent further decline.
Onanuga acknowledged the bishops’ persistent involvement in governance matters, emphasizing the government’s respect for their dedication to national unity and stability. He noted that while challenges remain in the areas identified by the bishops, Nigeria has made significant advancements in various sectors since President Tinubu took office 22 months ago.
In terms of security, Onanuga highlighted improvements, stating that Nigeria is more secure now compared to 2023. He credited the military and security agencies, along with President Tinubu’s leadership, for the elimination of over 8,000 criminals and the rescue of more than 10,000 abducted individuals. This enhanced security has allowed farmers, particularly in the North-West and North-East, to return to their fields, boosting food production and lowering essential commodity prices.
Discussing economic stability, Onanuga remarked that the Tinubu administration has strengthened Nigeria’s economic position, improving the balance of trade and foreign reserves. Inflation has moderated, and the local currency has gained strength. The administration has also increased local refining capacity, contributing to economic growth.
Onanuga highlighted initiatives aimed at youth employment and development, such as 3MTT, NATEP, LEEP, IDiCE, NiYA, and the Nigerian Youth Investment Fund, which aim to create over 10 million new jobs. Additionally, he noted that Nigeria has increased revenue collection to fund essential infrastructure and development priorities.
The unprecedented N54.9 trillion budget for 2025 is designed to revitalize the economy and promote growth. Onanuga also mentioned praise from international institutions like Chatham House, which commended the Tinubu administration’s economic reforms, noting that Nigeria’s economy is the most competitive it has been in 25 years.
Despite acknowledging ongoing challenges faced by Nigerians, the Presidency remains confident that the government’s decisions are paving the way for a prosperous future. Onanuga emphasized that President Tinubu and his team are committed to working diligently towards a stronger Nigeria, expressing optimism about the positive changes underway.