Tinubu’s Economic Reforms Are Difficult but Crucial – Nigerian Presidency Counters Afenifere’s Criticism

The Nigerian Presidency has firmly addressed the critique issued by Afenifere, the Pan-Yoruba socio-political group, which accused President Bola Ahmed Tinubu‘s administration of failing the Nigerian populace.

According to LMSINT MEDIA, Afenifere earlier alleged that the current administration’s two-year performance has resulted in a decline in human development, poor economic decisions, and weakening of Nigeria’s democratic institutions.

In a formal response, the Presidency described these remarks as biased and influenced by political opposition, specifically pointing out that the group supported an opposition candidate during the 2023 general elections.

Sunday Dare, the Special Adviser to the President on Media and Public Communications, addressed the matter in an official statement. He emphasized that under the Renewed Hope Agenda, President Tinubu is actively steering Nigeria toward economic recovery and stability.

“The comments from this factional Afenifere group are disturbing and reveal a clear agenda to distort facts and promote misleading narratives,” Dare noted. “It is evident that they are unwilling to acknowledge the positive steps being taken under President Tinubu’s Renewed Hope Agenda.”

He added, “Their viewpoint mimics that of opposition leaders and lacks objectivity. A data-backed and impartial evaluation paints a more progressive picture with notable achievements, despite the inevitable hurdles tied to Nigeria’s long-standing structural problems.”

He further explained that Afenifere’s claims about “unrelieved suffering” due to economic reforms such as the removal of fuel subsidies and the naira floatation fail to account for the broader macroeconomic benefits.

The adviser stated that removing fuel subsidies on May 29, 2023, allowed the government to save over $10 billion in 2023 alone. These savings significantly reduced fiscal pressure and redirected funds to critical development sectors. In addition, the unification of the foreign exchange market and floating of the naira contributed to a strengthened financial structure. Nigeria’s foreign reserves increased to $38.1 billion by 2024, and the country recorded a trade surplus of N18.86 trillion.