In a recent interview with Arise Television, Bayo Onanuga, a media aide to President Bola Ahmed Tinubu, asserted that Nigeria’s inflation rate is on a downward trajectory and credited the administration’s economic reforms for the improvement.
The words of Onanuga at some point during the interview read, “the inflation is coming down. I think we all go to the market and see that the prices are falling. These reforms are not just there momentarily; they’re there to ensure that we put our country on a solid footing.
Speaking further about reforms that should have been executed many years ago, he stated that “there are reforms that ought to have been done decades ago that we kept postponing until we had a president who said, look, let us do this thing now or this country will sink. We really need to commend President Tinubu for the courage that he has demonstrated in bringing those reforms on board.
Regarding the subject of subsidy under past presidents of Nigeria, he stated that “under former President Jonathan and Obasanjo, people were using the subsidy to loot the treasury, but now it is out, and you can see the benefit of it. Prices started going up when the subsidy was removed, but now they are coming down, and that is to the benefit of the Nigerian consumers.