Tinubu’s Economic Scorecard Turns Green, Says Presidency

Special adviser to the President on Media, Bayo Onanuga, has said that key economic indicators have turned positive under President Bola Tinubu, describing the administration as “a blessing to Nigeria.”
Onanuga made the remarks on his X handle yesterday in response to a performance snapshot shared by Statisense, which highlighted year-on-year gains in inflation, GDP growth, exchange rate stability, and foreign reserves.

According to the data sourced from the National Bureau of Statistics (NBS) and the Central Bank of Nigeria (CBN), Nigeria’s headline inflation has fallen from 34.80% to 16.05%. In comparison, food inflation dropped from 39.84% to 13.12% year-on-year.

The report also shows that real GDP growth improved from 3.86% to 3.98%, reflecting a marginal but positive expansion in economic activity.

On the foreign exchange front, the value of the naira strengthened, with the exchange rate moving from N1,661.12 to N1,445.39 per US dollar. Nigeria’s foreign reserves also rose from $40.22 billion to $44.67 billion as of November 28.

Reacting to the figures, Onanuga wrote: “The pointers are all flashing green, indicating that the Tinubu administration has been a blessing to Nigeria.”