By John Ogunsemore
Senior presidential aide, Bayo Onanuga and Special Assistant on Public Communication to former Vice-President Atiku Abubakar, Phrank Shaibu on Tuesday disagreed over the state of the nation’s economy under President Bola Tinubu.
Taking to X, Onanuga, who is Special Adviser on Information and Strategy to the President, said available data indicated Tinubu is performing, bashing the “wrong and blind” opposition for claiming otherwise.
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The presidential aide quoted a July 6 media report which reads in part, “CardinalStone’s mid-year outlook increased its bet on Nigerian assets, moving from a 65:35 local-to-global portfolio split to a more bullish 70:30 ratio. This is because Nigeria, despite its many challenges, is showing signs of resilience and opportunity that global markets currently lack.”
Onanuga said, “President Tinubu is not doing well, he is not governing Nigeria well, so claim the desperation opposition. But the data are showing that they are wrong and blind.
“Nigeria’s economy under the reforming presidency of Bola Tinubu demonstrates resilience and prospects of growth. Big money has taken adequate notice and the owners are heading to Nigeria to invest their funds, according to Cardinal Stone.”
However, Atiku’s aide Shaibu accused the presidential aide of cherry-picking investor optimism for economic performance.
He said, “Mr. Bayo Onanuga, once again, you have elected to mistake propaganda for policy, cherry-picked investor optimism for economic performance, and a paid financial forecast for grassroots reality.
“You say President Tinubu is ‘reforming’ the economy? Nigerians say they are reeling.
“You say investors are betting on Nigeria?Nigerians are betting on survival.”
Shaibu maintained that CardinalStone’s forecast is not policy performance, noting that shift in portfolio allocation is not a vote of confidence in Tinubu’s leadership but rather a hedge against volatility.
He stated, “Investors may be interested in assets, but Nigerians are enduring agony. Exchange rate instability, record food inflation, collapsing public services, mass layoffs, and rising insecurity are the real data that define governance—not BusinessDay headlines or speculative reports.
“What you call ‘resilience’ is actually mass suffering. Subsidy removal without structured palliatives, tax burdens without productivity, and a monetary policy that punishes the poor—all in the name of reform—have brought the Nigerian economy to its knees. Check the markets. Check the streets.”
Shaibu added, “Let us be clear: Nigeria is not on the rise. Nigerians are being run aground. No amount of glossy write-ups or investor speculation can erase the fact that Tinubu’s economic management has left the average citizen poorer, angrier, and hopeless.
“You may keep spinning. But the people are watching. And they are suffering. And come 2027, they will respond—not with rhetoric, but with resistance at the ballot.”
Responding, Onanuga berated Shaibu, stating, “Phrank, you know your problem? You have a problem of perception and you only see the bad sides, not the positive news.”
In a counter-reaction, Atiku’s aide accused the presidential aide of “gaslighting Nigerians”, stressing that “this isn’t about perception—it’s about pain. And no amount of propaganda can deodorize the stench of this administration’s failure”.
The post Economy: Tinubu, Atiku’s aides trade tackles appeared first on The Sun Nigeria.
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