Top Stories

Atiku’s ideas will take Nigeria back to Emefiele era – Presidency

The Presidency has argued that a controlled floatation of the naira, would only return the country to the economic era of the embattled Ex-Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

The Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, made this assertion in a statement on Sunday.

Advertisement

Onanuga was responding to the presidential candidate of the Peoples Democratic Party at the 2023 polls, Atiku Abubakar, who argued that Tinubu’s economic policies, especially the unification of the exchange rate, were implemented hastily without adequate planning and proper consultations with stakeholders.

President Tinubu’s economic reforms of the past nine months have sparked collateral instability in the value of the naira, heaping hardship on Nigerians as food prices continue to soar.

Advertisement

Atiku criticised the government, saying, “The wrong policies of the Tinubu administration continue to cause untold pain and distress on the economy and the rest of us cannot keep quiet when the government has demonstrated sufficient poverty of ideas to redeem the situation.”

He argued that “Given Nigeria’s underlying economic conditions, adopting a floating exchange rate system would be an overkill. We would have encouraged the Central Bank of Nigeria to adopt a gradualist approach to FX management. A managed-floating system would have been a preferred option.”

Advertisement
citynews

Recent Posts

Tinubu’s Aide Condemns Plan To Reinstall ‘Jesus Is Not God’ Banner In Lekki Mosque

The Senior Special Assistant to President Bola Tinubu on Community Engagement (North Central), Abiodun Essiet,…

2 hours ago

President Tinubu’s reforms not responsible for food stampedes – FG

The Minister of Information and National Orientation, Mohammed Idris, has warned politicians against linking stampedes…

2 hours ago

I will be more influential in Nigeria than UK – Tobi Adegboyega

Tobi Adegboyega, founder of the Salvation Proclaimers Anointed Church (SPAC Nation), has stated that he…

2 hours ago

Petrol To Sell ₦‎935/Litre From Today – IPMAN

The Independent Petroleum Marketers Association of Nigeria has said that petrol is going to sell…

2 hours ago

2025 Budget Cannot Address Nigeria’s Economic Challenges – Atiku

The former vice president made this disclosure in a statement on Sunday, reacting to the…

2 hours ago

NIGERIAN BREWERIES PARTNERS OZA CARNIVAL

PRESS STATEMENT Nigerian Breweries PLC - The pioneer and largest brewing company in Nigeria which is…

14 hours ago