Foodstuffs now cheaper, Nigeria’s economy improving — Presidency

The Presidency has accused television presenters of promoting opposition narratives about Nigeria’s economy, insisting that food prices are falling and economic conditions improving under President Bola Tinubu.

According to Nigerian Tribune, presidential spokesman Bayo Onanuga made the claims on Friday in a post on his official X account.

“TV anchors keep pushing the opposition’s narrative that nothing has changed, positively, indeed, massively, since 2023,” he said.

Onanuga claimed that rice prices had fallen significantly.

“The favourite rice that at a time was selling for N120k a bag has crashed below N50k. In my hometown, a bag now sells for N45K.”

He also claimed Nigeria’s foreign reserves were approaching $60 billion, while foreign direct investment and access to foreign exchange had improved.

The presidential aide argued that support from 33 governors demonstrated confidence in Tinubu’s leadership.

He maintained that the administration had established a foundation for economic prosperity despite opposition criticism.

The economic figures cited were not independently verified in his statement.