Special Adviser on Media and Information Strategy to President Bola Tinubu, Bayo Onanuga, has assured Nigerians that a reduction in the cost of living is imminent, as the impact of the administration’s economic reforms begins to materialise.
Speaking to journalists in Lagos on Sunday, June 1, Onanuga said the positive effects of President Tinubu’s policies would soon be evident across various sectors of the country, emphasising that the government has been addressing long-standing challenges previously ignored by past administrations.
The President’s years in office began with clear policy directions and implementation. A lot of reforms have taken place across sectors. The President has laid down many fundamentals that would ensure growth,” he stated.
Onanuga stressed that evaluating the administration’s performance within two years does not provide a complete picture of its achievements, arguing that policy experts typically assess the outcomes of major reforms over a decade or more.
He pointed to the initial crisis surrounding fuel subsidy removal and the near-collapse of the Nigerian National Petroleum Company Limited (NNPC) as an example of the dire conditions the Tinubu administration inherited.
There was no fuel. Many stations were saying no fuel, no fuel. What was happening at that time was that the NNPC had reached the bottom point. It had no money to import fuel, it claimed that it was owing suppliers about six billion dollars and the government was owing it about four trillion dollars. So, it could not import any more,” he said.
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