The Presidency has pushed back against criticism of President Bola Tinubu’s economic management, with the President’s Special Adviser on Information and Strategy, Bayo Onanuga, arguing that falling food prices and improving economic indicators point to progress under the current administration.

Onanuga made his position known in a post on X on Friday, October 16, following an interview on Arise News. He accused the programme’s presenters of reinforcing opposition arguments that Nigerians had seen little improvement since Tinubu assumed office.

To support his position, the presidential aide highlighted the changing cost of rice, claiming that a 50-kilogramme bag that previously sold for approximately ₦120,000 can now be purchased for less than ₦50,000 in some markets. He added that the commodity sells for about ₦45,000 in his hometown.

Beyond food prices, Onanuga pointed to a decline in inflation, stronger foreign reserves and improved foreign exchange availability as signs that the government’s economic policies are beginning to yield results.

However, the cost-of-living situation remains more complicated than the figures cited by the Presidency suggest. Findings from a September survey of Lagos markets indicated that some food items had become cheaper, although onions and certain vegetables remained relatively costly compared with earlier periods.

The debate highlights the gap between improvements in selected economic indicators and the everyday experiences of households struggling to meet basic needs. While lower prices for essential commodities could offer some relief, the extent of that relief depends on market location, income levels and the cost of other necessities.

Onanuga’s comments have therefore renewed attention on a central question facing the Tinubu administration: whether the reported gains in the wider economy are translating into sustained, meaningful improvements in Nigerians’ purchasing power and living standards.