The Presidency has confirmed that the economic reforms of President Tinubu’s administration are resulting to positive outcomes despite the hardship in the country.
This statement was made by the Special Adviser to the president on information and strategy, Bayo Onanuga on a social media’s post on Tuesday.
He stated, “In the first quarter of 2024, Nigeria recorded trade super plus of N65.527 trillion. But by the second quarter, that number rose to N65.945 trillion, a 6.5 percent increase.
“By half year 2024, we had exported enough to cover half of Nigeria’s N28.77 trillion budget.”
Recall that on May 29, 2023, President Tinubu stopped petrol subsidy while highlighting the unsustainable costs of N12 trillion over 10 years. It was a result of this that there was a fuel price hike.
During the month of June, inflation increased rapidly to 34.19%. But it is a different lately because it reduced to 32.7% in the month of September.
Most Nigerians have fallen into poverty because of the high cost of living. This was reported by World Bank.