In a recent statement, the presidency rebuked former Vice President Atiku Abubakar’s proposal on managing Nigeria’s foreign exchange crisis and its economic repercussions, labeling his assertions as flawed and lacking substance.
Presidential spokesperson Bayo Onanuga criticized Atiku’s suggestions, asserting that they were riddled with inaccuracies and failed to offer viable alternatives to the current government’s policies. Onanuga highlighted that Atiku’s proposal mirrored past strategies, which the current administration had condemned as ineffective and conducive to corruption.
Contrary to Atiku’s claims, Onanuga clarified that recent discussions within the government, particularly in a meeting convened by President Tinubu, primarily focused on addressing food supply challenges and enhancing security measures. The meeting emphasized the importance of tackling food hoarding and fostering agricultural production to alleviate food scarcity and reduce prices.
Onanuga further underscored the government’s commitment to agricultural initiatives aimed at bolstering food security, including the cultivation of vast hectares of land for wheat, maize, and rice production. President Tinubu’s stance against price control and food importation reflected the administration’s belief in Nigeria’s capacity to achieve self-sufficiency in food production.
Addressing Atiku’s criticism of the Central Bank’s foreign exchange policies, Onanuga defended the government’s efforts in stabilizing the Naira and curbing market volatility. He cited a significant increase in capital inflow as evidence of growing investor confidence in Nigeria’s economic trajectory under Governor Olayemi Cardoso’s leadership.
In contrast to Atiku’s recommendations, which Onanuga likened to past failed strategies, the government’s approach prioritizes sustainable economic reforms and prudent fiscal management to ensure long-term stability and growth.
The presidency’s statement serves as a rebuttal to Atiku’s assertions, portraying the government’s policies as proactive and effective in addressing Nigeria’s economic challenges. It highlights the administration’s commitment to fostering agricultural development, enhancing security, and implementing sound monetary policies to promote economic prosperity and improve the lives of Nigerians.