Special Adviser to the President on Information and Strategy, Bayo Onanuga, has defended the economic reforms introduced by the administration of President Bola Ahmed Tinubu, insisting that the policies are already yielding positive results across the country.

Speaking on the impact of the administration’s economic measures, Onanuga said state governments are now receiving significantly higher revenues, enabling them to embark on projects that directly benefit their citizens.

According to him, several states, including Kaduna, Kebbi, Ebonyi, Enugu and Abia, are already recording notable progress due to increased allocations.

“States now have a lot of money to embark on projects that impact on the people they govern. We’ve seen this in Kaduna, Kebbi, Ebonyi, Enugu and Abia. States are achieving things they couldn’t have in the last five years because they are getting more funds,” he said.

Onanuga also highlighted improvements in workers’ welfare, noting that the current administration increased the national minimum wage by more than 100 percent.

He further argued that millions of Nigerians have benefited from the growth of the capital market since 2023.

“With the policies government adopted in 2023, I know about six million Nigerians invested in the stock market and have grown wealthier since 2023. The companies operating in the stock market are based in Nigeria and are making money, and are also generating wealth for their six million shareholders,” he stated.

On the power sector, the presidential aide said electricity generation has improved compared to levels inherited by the Tinubu administration. However, he acknowledged that challenges remain, particularly in gas supply.

According to him, Nigeria currently has a stored generation capacity of 13,500 megawatts, but gas shortages continue to affect output due to over N4 trillion in legacy debts owed to gas suppliers by players in the power sector.

On security, Onanuga accused some sections of the media of exaggerating the scale of insecurity in the country, saying isolated security breaches are often portrayed as though the entire nation is under siege.

“They’re creating the impression that there’s insecurity everywhere. The media is not helping as well. They report insecurity as if the whole country is consumed with insecurity. There are security breaches and no one is disputing that,” he said.

The presidential spokesman maintained that despite existing challenges, the administration’s reforms are laying the foundation for economic growth, wealth creation and improved governance across the country.

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