Borrowing Is A Common Practice, US, Others Also Engage In It- Tinubu’s Media Aide

*Says Tinubu’s Reforms Will Ease Cost Of Living Soon

‎The Special Adviser on Media and Information Strategy to President Bola Tinubu, Mr. Bayo Onanuga, has assured Nigerians that they will soon experience a reduction in the cost of living as the effects of the administration’s economic reforms start to materialise.

‎Speaking to newsmen in Lagos on Sunday, Onanuga stated that the positive effects of President Tinubu’s policies would soon be felt across all segments of the nation.

‎Onanuga highlighted that President Tinubu had not only introduced progressive reforms but had also tackled challenges that previous administrations avoided.

‎He added that two years is an insufficient yardstick to fully measure the administration’s achievements, noting that policy experts typically assess the impact of policies over a period of 10 years to 12 years.

‎“The president’s years in office began with clear policy directions and implementation.

‎“A lot of reforms have taken place across sectors.

‎The President has laid down many fundamentals that would ensure growth,” he stated.

‎He acknowledged that while the positives of the President’s actions over the past two years were gradually trickling down, a significant paradigm shift had occurred in the economy, addressing many pre-existing problems.

‎Onanuga, while referring to the situation before the subsidy removal, said, “There was no fuel. Many stations were saying, No fuel, no fuel.

‎“What was happening at that time was that the NNPC had reached the bottom point. It had no money to import fuel; it claimed that it was owing suppliers about six billion dollars and the government was owing it about four trillion dollars. So, it could not import any more.”

‎Addressing concerns about borrowing, Onanuga clarified that it is a common practice globally, with even countries like the United States engaging in it.