Presidency Says Nigeria Is Poor, Wealth Overestimated

By Akinwale Kasali

As the nation and its citizens continue to groan over its economic downturn which is having adverse effect on commodities in the market, the Presidency has said the nation is poor and its wealth overestimated compared to some African countries.

Nigeria, which prides itself as the ‘Giant of Africa’ has been described as a very poor country by the Special Adviser on Information and Strategy to the President Bola Ahmed Tinubu, Bayo Onanuga.

Speaking in an interview on Arise Television, Onanuga said Nigeria is a developing and poor country as its per capital income is low.

As regards the worrisome state of the nation’s economy, Onanuga said President Tinubu is doing everything humanly possible to stabilize the economy, adding that the removal of subsidies on petrol and the unification of the exchange rate, the administration “is hoping that the pressure on our finances will reduce.”

For weeks, there have been protests in several Northern States over the economic situation that has further impoverished Nigerians.

There were protests in Kano State and Niger State prompting the Presidency to release 120,000 tonnes of Millet, Maize and Rice to Cushion the effect of the poor economic state of the nation on the people.