Presidency Reacts As Catholic Bishops Raise Alarm Over Nigeria’s Economy

• In a twist, the Presidency had claimed that the Nigerian economy is improving under the administration of President Bola Tinubu
• Bayo Onanuga, special adviser to the President, Information and Strategy, revealed this while responding to the remarks by the Catholic Bishops’ Conference
• The presidency insisted that the conference "gave an alarming prognosis of the state of the economy and the polity that sounded more like snippets from an outdated book"

Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements

State House, Abuja - The Presidency has asserted that Nigeria has made tremendous progress in all areas since President Bola Ahmed Tinubu assumed office about 22 months ago.

Nigeria’s growth: Catholic Bishops raise concerns

The presidency spoke via a statement issued on Monday, March 10, by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.

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Onanuga said that despite concerns raised by the Catholic Bishops’ Conference of Nigeria, at its first plenary meeting of 2025 in Abuja, the country is making remarkable progress under Tinubu's leadership.

The presidential aide, Onanuga, who acknowledged that some of the governance challenges in the areas highlighted by the Bishops remain, noted that the country made tremendous progress in security, economy, youth empowerment among others.

He was responding to comments by the CBCN President, Archbishop Lucius Iwejuru, who listed youth unemployment, insecurity, poverty, corruption, and electoral fraud as some of the ills plaguing the country.

Presidency insists Nigeria is progressing under Tinubu

Onanuga highlighted Nigeria’s economic improvements as well as international recognition.

Speaking further, Onanuga insisted that Tinubu’s administration is steering the country toward growth and stability.

“President Bola Tinubu deeply appreciates the constant interventions of the Catholic Bishops in matters of governance in our country. The Conference of Catholic Bishops’ patriotic fervour and commitment to national unity, peace, and stability are unassailable and deeply valued and respected by the government.

“In terms of insecurity, Nigeria is more secure today than it was in 2023, thanks to our military and other security agencies and the strong leadership provided by President Tinubu as the Commander-in-Chief.

“Under President Tinubu, Nigeria spends more on economic and social infrastructure such as roads, power, healthcare, education, and security. The unprecedented N54.9 trillion 2025 budget is designed to revitalise the economy and set it on a new growth trajectory. Local and international institutions have continued to praise the Tinubu administration’s implementation of necessary reforms.

‘Last week, Chatham House, a United Kingdom International Affairs policy think tank, praised President Tinubu’s economic management team. In an article, Chatham House said Nigeria’s economy had been most competitive under President Tinubu in 25 years due to his reforms.

“While we agree that many Nigerians still face difficulties, we remain convinced that the government is making the right decisions that will lead to a better and more prosperous country. President Tinubu and his team will continue to work very hard on behalf of our compatriots to deliver the promise of a greater and stronger Nigeria.

“The Tinubu administration is optimistic about the future and the ongoing positive changes. Bayo Onanuga Special Adviser to the President (Information and Strategy) March 10, 2023,” the statement read in part.

Chatham House lists benefits for Nigeria’s economy

In another development, Legit.ng reported that Chatham House, London, has warned President Bola Tinubu not to strengthen the naira.

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In a statement, the think tank listed out the benefits Nigeria is enjoying from a weaker naira.

It also mentioned a lot of things that could go wrong if the government chooses to halt the naira depreciation and recommended that the government could instead tackle inflation by increasing public revenues and enhancing monetary mechanisms.