Onanuga to Atiku: You’re peddling economic fantasies – purge yourself of petty politics

Bayo Onanuga, special adviser to President Bola Tinubu on information and strategy, says former Vice-President Atiku Abubakar is peddling “economic fantasies” and must purge himself of petty politics.

Over the weeks, there has been exchanges between the presidency and Abubakar after the former vice-president proposed solutions to the country’s economic challenges.

Last week, the former vice-president said he cannot be envious of Tinubu because he inflicts pain on Nigerians.

In a statement on Sunday, Onanuga reiterated that Nigerians rejected Abubakar and his ideas during the 2023 presidential election.

“Atiku’s critiques of Tinubu’s presidency are mere harebrained propositions devoid of realistic alternatives,” the presidential aide said.

“He must reckon with the decades of mismanaged economy inherited by the current administration, including exorbitant subsidy expenditures far exceeding government earnings from crude oil.

“As of mid-2023, the landing cost of fuel was between N500 and N600, while it was sold nationwide at an average of N200. The 2023 budget allocated N3.36 trillion for fuel subsidies until June 2023 against a projected N2.23 trillion in oil revenue for the year.

“The Nigerian state was on life support.

“We expect Atiku to commend what the Tinubu administration has done concerning revenue generation for the Federation.

“Without factoring in oil sales, revenue proceeds generated by the Federal Inland Revenue Service almost doubled in the first half of 2024, compared with the level Tinubu met in 2023. The states and councils are more prosperous because of it, as many states have increased the minimum wage for their workers to between N70,000 and N85,000.

“Atiku’s proposal to privatise the four government-owned refineries, which collectively can only meet a fraction of the nation’s daily fuel consumption when activated, lacks originality.”

Onanuga said Abubakar’s economic proposals fail to present a viable alternative to Tinubu’s “decisive reforms”, adding that the former vice-president should repair his reputation as a statesman.