Presidency Lists Economic Achievements of Tinubu, Rejects Hunger, Hardship Claims
- The Presidency has defended against a newspaper editorial claiming there is hunger and hardship in Nigeria
- In a lengthy statement, the President said criticism of the economy is exaggerated and not fact-based, citing the naira’s performance as a yardstick
- Food and welfare measures were also outlined as some of the achievements of the current administration
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria’s presidency has rejected the Daily Trust newspaper editorial that described Nigerians as overwhelmed by hunger and hardship.
In a statement from the state house titled responsible critique requires fact-driven narratives, the presidency defended President Bola Tinubu’s reforms and outlined measures it says are already easing pressure on citizens.
Source: Getty Images
The statement shared by Sunday Dare, the Special Adviser, Media & Public Communication/Spokesperson, stated that the hunger and economic hardship narratives are exaggerated.
It accused the Daily Trust of misrepresenting government policies and promoting “selective pessimism” in its editorial.
Part of the statement reads
“The Tinubu administration believes in the right of the media to offer constructive criticism, but such criticism must be anchored in facts, not distortion or selective pessimism.
"While no one in the Tinubu administration denies that some of our citizens face economic challenges, it is essential to separate honest concern from exaggerated pessimism and generalisation.
"The Tinubu administration remains attentive to the genuine concerns of the people. Ironically, many of the policies criticised today are the very measures designed to secure a more stable, prosperous, and resilient future for Nigerians."
Listed achievements of naira
One of the achievements listed by the presidency is the performance of the naira against the US dollar.
According to the statement, the naira has recorded a significant improvement in the last year.
The statement continued:
"The editorial’s use of the term “worthless naira” is false and misleading. Since hitting a low of N1,800/$1 in March 2024, the naira has rebounded strongly due to increased oil receipts and remittances, restored investor confidence, unification of the FX window, and a reduction of the FX backlog by over $4 billion (CBN data, May 2025).
"As of August 1, 2025, the naira traded at around N1,525/$1, a significant appreciation from its lowest point.
"Nigeria’s FX reserves are stabilising, and foreign portfolio inflows are rising following major monetary and fiscal reforms.
"The naira has not collapsed; it has been corrected and is now recovering."
Source: UGC
Presidency upbeat about Nigerian economy
Another achievement claimed is on food security, it dismissed claims of inaction, saying over 42,000 metric tonnes of grain had been released from strategic reserves, 117,000 tonnes were being procured, and targeted nutrition support had been scaled up in six states.
It added that global factors from COVID disruptions to the Russia-Ukraine war were also driving food price pressures.
The presidency also listed government school feeding programme still serves 9.8 million children, while 3 million vulnerable households have each received N75,000 under a conditional cash transfer scheme that will expand to 15 million households.
Other measures include N200 billion investment in year-round farming, input support for 500,000 farmers, upcoming tax reforms to cut levies on essential goods from January 2026, and a new ward-level development plan targeting poverty reduction and rural infrastructure.
The statement added
“To those who ask, “Where is the hope?” we say: hope is in the stabilising naira; in three million families lifted by direct transfers; in about 400,000 students now schooling without fear of paying fees; in 500,000 farmers sowing into a new food system; and in a government treating poverty not as a slogan, but as a solvable problem.
Top Nigerian firm predicts new exchange rate
Earlier, Legit.ng reported that FBNQuest Merchant Bank has projected that the naira will end the year at N1,662 per dollar, exchange rate.
The financial company cited uneven foreign portfolio inflows, rising global risks as the reasons for its projections.
There is also a projection of positive figures for the Nigerian economy, driven by the services sector and improved GDP following rebasing.
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Source: Legit.ng
