The Nigerian Presidency has released a detailed report of President Bola Tinubu’s two-year performance, dismissing criticisms from a faction of the pan-Yoruba socio-political group, Afenifere, as “deceitful” and politically motivated.
The statement, issued Tuesday by Sunday Dare, Special Adviser to the President on Media and Public Communications, presented what it described as substantial progress under the administration’s Renewed Hope Agenda.
“The group has found it challenging to accept that under the Renewed Hope Agenda of President Bola Tinubu, Nigeria’s comeback story is firmly underway,” Dare stated, responding to Afenifere’s allegations of economic failure, democratic backsliding, and rising hardship.
Dare insisted that key economic reforms—including the removal of fuel subsidy and the unification of exchange rates—have begun yielding positive macroeconomic outcomes. He noted that the fuel subsidy removal alone saved the federal government over $10 billion in 2023, easing fiscal pressure and enabling greater investment in other sectors. He added that the naira’s floatation, though initially painful, helped grow Nigeria’s foreign reserves to $38.1 billion in 2024 and secured a trade surplus of ₦18.86 trillion.
While acknowledging the hardship these reforms initially brought, the presidency highlighted efforts to cushion their impact. The government’s conditional cash transfer programme now reaches over 5.7 million poor households. Other interventions include an increase in the NYSC monthly stipend from ₦33,000 to ₦77,000, implementation of a ₦70,000 minimum wage, and the distribution of free Compressed Natural Gas kits to commercial drivers as part of a broader strategy to cut transport costs.
According to Dare, the administration has also supported students and young professionals through the Presidential Loan and Grant Scheme, which has recorded over 900,000 beneficiaries, and the NELFUND student loan initiative, which has supported over 600,000 applicants. Inflation, which had surged after the policy changes, showed signs of easing, falling to 23.71 percent in April 2025 from 24.23 percent in March. Food inflation, while still high, dropped slightly to 21.26 percent.
The administration claimed further gains in education, health, agriculture, and infrastructure. Dare said ₦50 billion had been released to resolve long-standing university strikes, over 1,000 primary health centres had been revitalised, and an additional 5,500 were undergoing upgrades. He also referenced the construction of 20,000 affordable housing units and the training of 150,000 youths in digital and technical skills under the 3 Million Technical Talent (3MTT) programme. Agricultural support included ₦200 billion in loans to farmers and agro-processors, while over two million Nigerians have gained access to digital infrastructure and broadband hubs. The presidency reported a 3.84 percent GDP growth in the fourth quarter of 2024, the highest in three years, along with $50 billion in new foreign direct investment commitments and a rise in net foreign exchange reserves from $3.99 billion to $23.11 billion.
Responding to criticisms that the administration has failed to cut governance costs or implement the Oronsaye Report, Dare argued that the fiscal deficit had been reduced from 5.4 percent of GDP in 2023 to 3.0 percent in 2024. Debt servicing, he said, had dropped from nearly 100 percent of revenue in 2022 to under 40 percent in 2024. He claimed these changes were driven by the elimination of Ways & Means financing and subsidy payments, leading to record revenues exceeding ₦6 trillion in the first quarter of 2025.
On allegations of corruption and prebendalism, Dare cited the suspension of Minister of Humanitarian Affairs Betta Edu over alleged fund diversion as proof of the administration’s willingness to enforce accountability. He further pointed to the Economic and Financial Crimes Commission’s (EFCC) record-breaking 4,111 convictions in 2024, recovery of ₦364 billion, and seizure of a 725-unit estate in Abuja in early 2025. The estate has since been handed over to the Ministry of Housing.
The presidency also rejected claims of creeping authoritarianism and a weakened democratic structure. Dare pointed to recent Supreme Court rulings upholding opposition electoral victories in Kano, Plateau, and Abia as evidence of judicial independence. He described allegations of politicised appointments within INEC as unsubstantiated and noted that criticism of the government’s handling of protests and agitation for state police lacked nuance. “There is a difference between the State Police being widely advocated and a Police State that critics may blame the Federal Government for if implemented without caution,” he said.
In the area of security, the statement reported that more than 13,500 terrorists, bandits, and insurgents had been neutralised in the past year, with 7,000 arrests recorded. This, Dare said, has allowed displaced farmers to return to their fields, improving agricultural output. He also announced the creation of regional development commissions in all six geopolitical zones to drive community empowerment and grassroots growth.
The presidency dismissed allegations that it was sponsoring internal divisions within opposition parties ahead of the 2027 elections, calling them “baseless.” It asserted that Nigeria’s credit rating had improved, with Fitch upgrading its rating to B and Moody’s lifting Nigeria from Caa1 to B3 with a stable outlook. These ratings, Dare said, confirm the country is on the path to recovery.
While admitting that there are still difficulties across the country, Dare argued that the opposition had chosen to view the “cup as half empty,” while in reality, “it’s half full.” He added that the administration had made fiscal and structural gains that would translate into visible microeconomic relief in the short term.
“Under President Tinubu’s leadership, Nigeria is turning the corner,” Dare concluded. “From stabilising the naira and curbing inflation to reducing debt burdens and expanding access to education and health, the administration delivers bold reforms with actual results. With improved security, regional inclusion, anti-corruption measures, and institutional rebuilding, Nigeria’s comeback story is not yet complete — but it is firmly underway.”
