The Presidency has dismissed former Vice President Atiku Abubakar’s warning that Nigeria risked unrest similar to the French Revolution due to what he called raging hunger.
It described the opposition leader’s comments as “cheap talk” and out of touch with recent economic data.
“Their latest statement demonstrates a disconnect from the authentic Nigerian reality,” a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga said.
Atiku, who lost to President Bola Tinubu in the 2023 election, said rising hunger could trigger mass anger reminiscent of the 1789 French uprising or the 1917 Bolshevik Revolution in Russia.
However, the Presidency countered that statistics from the National Bureau of Statistics painted a brighter picture.
According to the statement, headline inflation declined for the fifth straight month in August, while the country posted a record trade surplus, with non-oil exports nearly equalling crude oil at a 48:52 ratio.
The Presidency also said foreign reserves had climbed to nearly $42bn, up from $32bn when Tinubu took office, after settling more than $7bn in arrears, including $800m owed to foreign airlines.
The Presidency argued that “Under President Tinubu, Nigeria is recording unprecedented revenues.
“States are now able to pay salaries and gratuities promptly and still have surplus funds for capital and social projects—an achievement not previously witnessed at this scale.
“Nigeria is moving in the right direction.”
It accused Atiku and the opposition Peoples Democratic Party of ignoring these gains and focusing instead on “doomsday scenarios” rooted in economic mismanagement during their years in power.
“In contrast, Atiku and his party remain stuck in the past, fixated on doomsday scenarios and revolutionary rhetoric.
“Ironically, many of the challenges we face today stem from the economic mismanagement during the PDP years, when Atiku was Vice President.
“President Tinubu and his team are working relentlessly to correct those errors, with bold reforms,” the presidency noted.
Tinubu, who has spent two years and five months in office, has pursued sweeping economic reforms including the removal of fuel subsidies and exchange rate unification.
Officials say these measures are stabilising state finances and attracting investment.
However, critics argue they have deepened hardship, with food inflation still high and poverty widespread.
“We are proud of the progress being made under President Tinubu’s leadership.
“Atiku and his allies may choose to ignore these gains, but Nigerians can see and feel the positive changes taking place across the nation,” Onanuga stated.
