Nigeria Is a Very Poor Country; Our Wealth Is Overestimated – Tinubu Government

In a recent statement, the administration under President Bola Tinubu has openly acknowledged Nigeria’s economic struggles, emphasizing that “to be honest, Nigeria is a very, very poor country and our wealth is overestimated.”

This perspective was shared by Mr. Bayo Onanuga, the Special Adviser on Information and Strategy to the President, during his appearance on an Arise News TV program on Monday.

Amid these discussions, there have been grievances from workers in various federal establishments throughout Nigeria over the late payment of January salaries, criticizing the government’s approach as insensitive given the current economic hardships.

Contrary to these complaints, Onanuga refuted such claims, attributing the delay to technical issues with the salary disbursement platform. He clarified, “The office of the AGF has identified a challenge with the platform used for disbursing salaries. From the briefing I received this morning, there was indeed a delay in salary payments, but all federal workers have now been compensated.”

He reiterated the nation’s financial condition, stating, “To be honest, Nigeria is a very, very poor country. Our wealth, I believe, has been greatly overestimated.”

Onanuga further expressed that the nation’s wealth is misjudged, emphasizing Nigeria’s significant poverty when considering its low per capita income in comparison to other African countries.

In an effort to alleviate financial strain, the presidential aide highlighted the government’s initiatives, such as the removal of fuel subsidies and the unification of the exchange rate, with the expectation that these measures “will lessen the pressure on our finances.”

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