The Special Adviser on Information and Strategy to Nigeria’s President, Mr. Bayo Onanuga, says Nigeria’s key economic indicators is now in positive territory under President Bola Ahmed Tinubu.
He said that the administration’s reform agenda is proving to be “a blessing to Nigeria.”
Mr. Onanuga made the remarks in a post on his X handle, @aonanuga1956, while responding to newly released data by analytics firm Statisense, which showed year-on-year improvements in inflation, GDP performance, exchange-rate movement, and external reserves.
Drawing from figures published by the National Bureau of Statistics (NBS) and the Central Bank of Nigeria (CBN), the report revealed that “headline inflation dropped significantly from 34.80 percent to 16.05 percent, while food inflation eased from 39.84 percent to 13.12 percent over the same review period.”
The data further showed a modest uptick in real GDP growth, rising from 3.86 percent to 3.98 percent—an indication of sustained economic activity despite prevailing global and local headwinds.
In the foreign exchange market, the Naira strengthened, appreciating from ₦1,661.12 to ₦1,445.39 to the US dollar. Nigeria’s external reserves also increased from $40.22 billion to $44.67 billion as at November 28.
Responding to the latest economic figures, Mr. Onanuga wrote:“The pointers are all flashing green, indicating that the Tinubu administration has been a blessing to Nigeria.”