The Presidency reacted on Sunday to the allegation of financial recklessness and economic mismanagement levelled against the administration of President Bola Tinubu by former Vice President Atiku Abubakar.
Atiku, the presidential candidate of the African Democratic Congress (ADC), had, in a statement by his media aide, Phrank Shaibu, accused the administration of excessive borrowing in the 2024 budget, questioned the removal of the fuel subsidy, criticised the tax reforms, concocted an oil windfall and claimed that Nigeria was drifting economically.
He said the administration’s attempt to rewrite the country’s economic realities through creative accounting and polished public presentations, while maintaining the hardship Nigerians face, tells a different story entirely.
The former vice president noted that the comments by the Minister of Finance, Taiwo Oyedele, regarding savings from the removal of the fuel subsidy are inconsistent with the available financial records.
He stated that the Tinubu administration is increasing the nation’s indebtedness to the CBN rather than reducing it.
