Nigeria’s Presidency has criticized a factional Afenifere group for its statement on the mid-term performance of President Bola Tinubu’s administration, calling it deceitful. According to Sunday Dare, Special Adviser to the President on Media and Public Communications, the group’s claims of regression in human development, economic mismanagement, and democratic backsliding are a jaundiced view that ignores the administration’s significant achievements.
The Afenifere group had claimed that the removal of fuel subsidy and the floating of the naira led to “unmitigated sufferings” and “economic deforms.” However, Dare argued that these claims overlook the macroeconomic gains, including the saving of over $10 billion in 2023 alone, which reduced fiscal strain and redirected funds to other sectors. The unification of the foreign exchange market and the naira’s floatation also boosted foreign reserves to $38.1 billion by 2024 and achieved a trade surplus of N18.86 trillion for the country.
Under the Tinubu administration, the annual inflation rate fell to 23.71% in April 2025, and food inflation moderated to 21.26% from 21.79%. The government’s cash transfer program has benefited over 5.7 million households, and the administration has recorded significant achievements, including over 900,000 beneficiaries of the Presidential Loan and Grant Scheme, over 600,000 beneficiaries of the Students’ Loan Scheme, and an increase in the NYSC monthly stipend to N70,000.
Other gains include the implementation of the N77,000 new minimum wage, the distribution of free CNG kits to thousands of commercial drivers, and the roll-out of CNG buses in partnership with state governments, leading to a significant drop in transport costs. The administration has also cleared over $10 billion in FX debt, increased federal account allocation to states by 60%, and released N50 billion to end the perennial ASUU strikes.
The Tinubu administration has also made significant investments in digital infrastructure, with over two million Nigerians connected to new community broadband hubs and public WiFi projects. The administration has also recorded a 3.84% GDP growth in Q4 2024, the highest in three years, and has attracted over $50 billion in new FDI commitments. Net Foreign Exchange Reserves have increased from $3.99 billion in 2023 to $23.11 billion in 2024, and the administration has unlocked over $8 billion in new oil and gas investments and realized over $800 million in processing investments in solid minerals.
Dare emphasized that the administration’s extensive list of significant achievements is currently benefiting Nigerians in real-time, and it is now pertinent to inquire from opposition leaders about alternative strategies they would propose. The Tinubu administration’s commitment to reform and progress is evident in its achievements, and it is essential to acknowledge the necessity of reform while emphasizing the need for better-targeted social safety nets.
