Edward Onoja, a staunch supporter of the Bola Tinubu administration and former Deputy Governor of Kogi State, has come to the defense of the federal government’s economic management, arguing that critics are deliberately ignoring positive trends in commodity prices and other key sectors.
Speaking on the Mic On podcast hosted by veteran journalist Seun Okinbaloye, Onoja offered what he described as factual evidence of recent improvements in the Nigerian economy, particularly in the areas of food and energy costs.
He accused the government’s detractors of painting a one-sided picture of the country’s economic reality by focusing solely on the hardships while refusing to acknowledge signs of recovery.
“Yes, we went through a period of hardship, and no one is denying that,” Onoja admitted during the podcast. “But the question is, when the economy starts to improve even marginally, why is nobody saying anything about it?”
Onoja presented specific examples of food items whose prices had risen sharply in 2023 and early 2024 but have reportedly dropped significantly in recent months.
According to him, the cost of a 50-kilogram bag of locally produced rice, which skyrocketed to ₦100,000 at the peak of inflation, has now come down to around ₦50,000 as of September 2025.
Similarly, he noted that a bag of beans, which previously doubled in price from ₦50,000 to ₦100,000, has returned to its earlier rate.
“Take rice for instance,” he said. “In 2023 and into early 2024, you couldn’t find a 50kg bag of local rice for less than ₦100,000. Today, it’s back to ₦50,000, but no one is talking about it. The same thing with beans, it climbed to ₦100,000, now it’s back to ₦50,000. Garri went from ₦30,000 to ₦70,000 per bag and has come down to ₦40,000. Still, the headlines remain about hunger and suffering.”
Onoja emphasized that while Nigeria continues to face structural economic challenges, recent price corrections in essential commodities should be seen as indicators that some of the government’s policies including reforms in agriculture and market liberalization are beginning to yield results.
He also pointed to the gradual decrease in petrol prices, which had surged following the removal of fuel subsidies in 2023. At the height of the market adjustment, petrol was selling at over ₦1,200 per litre in many parts of the country.
However, Onoja noted that increased competition among private importers and improved supply mechanisms have now driven prices below ₦900 per litre in some areas.
“Fuel was once over ₦1,200. Today, you can find it below ₦900. That’s progress,” he said. “We’re seeing a market correction as more players come in and competition takes shape. But again, no one wants to talk about that.”
Onoja criticized what he described as a culture of selective outrage among opposition figures and sections of the media, whom he accused of ignoring positive economic developments to advance a political agenda.
“The Nigerian people deserve the truth, both the good and the bad,” he stated. “Yes, there are still problems, but there are also solutions taking effect. The numbers are there, and the markets are responding. It may not be dramatic, but it’s real progress.”
His remarks come at a time when the Tinubu administration continues to face mounting pressure over the state of the economy, particularly regarding inflation, high unemployment, and the depreciation of the naira.
The government’s economic reforms especially the removal of fuel subsidies and the floating of the naira were intended to stabilize the fiscal framework, but have so far caused significant short-term hardship for many Nigerians.
However, supporters like Onoja argue that these policies are necessary adjustments, and that their effects should be judged over the medium to long term.
“There’s no quick fix,” Onoja said. “But the early signs are promising, and if we stay the course, we will see more stability and prosperity. The narrative that nothing is working is simply not true…..CONTINUE FULL READING>>>>
Still, critics maintain that improvements in select market segments are not enough to offset the broader cost-of-living crisis that continues to affect millions of Nigerians.
They argue that many households are still unable to afford basic necessities and that wage growth has not kept pace with inflation.
