Presidency Expresses Optimism on Nigeria’s Finances

Temitope Mustapha, Abuja 



The Presidency has expressed optimism that with the removal of subsidies on petrol and the Unification of the exchange rate, the pressure on Nigeria’s finances will reduce.


Special Adviser on Information and Strategy to the President, Bayo Onanuga, stated this when he appeared as a Special Guest on a National TV Prime Time programme on Monday night.


According to him, “with the removal of subsidies on petrol and the unification of the exchange rate, the administration “is hoping that the pressure on our finances will reduce.” 


Onanuga further debunked claims that the Tinubu-led government still owes federal workers salaries.


He disclosed that the office of the Accountant General of the Federation had acknowledged a challenge with the disbursement platform.


He said: “The office of the AGF has said there is a challenge with the platform being used to disburse the salaries. 


According to a briefing I got on Monday morning, yes, salaries were delayed, but all federal workers have been paid,” he stated.


The Special Adviser to the President on Information and Strategy, also said that based on Nigeria’s low per capita income in comparison to other African countries, Nigeria’s wealth is over-estimated.


While answering a question on the state of Nigeria’s economy and the administration’s efforts to ensure stability, Onanuga stated,   “Nigeria is a very very poor country, to be honest. I think our wealth is overestimated.


 “I think we have a poor estimation of the country’s wealth, we are an impoverished country,”  he added.


Dominica Nwabufo