In the realm of politics, allegations and counter-allegations often fly thick and fast. To separate fact from fiction, it’s essential to apply a rigorous fact-checking approach. Let’s examine some key claims made by the government and criticisms leveled against them.

Economic Reforms
The government has been vocal about the economic reforms implemented under President Bola Tinubu’s administration. Critics argue that these reforms have not yielded the desired results. However, a closer look at the facts reveals a different story:

  • Foreign Investment: The Nigerian Exchange has seen significant growth, with its All-Share Index (ASI) jumping from 50,000 to over 110,000. Market capitalization has also increased to N69.4 trillion from about N30 trillion before Tinubu’s ascension.
  • Revenue Growth: The government has reported a phenomenal increase in revenue, enabling it to invest in social safety nets and infrastructure.

Social Safety Nets
Critics claim that government policies are “anti-people.” However, the facts suggest otherwise:

  • Minimum Wage: The minimum wage has been more than doubled from N30,000 to N70,000, with some states paying up to N85,000 to their workers.
  • Student Loan Scheme: Over 600,000 Nigerian students have benefited from the Student Loan Scheme, making higher education more accessible.
  • Healthcare Investments: The government has made considerable investments in healthcare, including revitalizing primary health centers and expanding health insurance.

Borrowing and Fiscal Management
Atiku Abubakar, a critic of the government, alleged that the administration is borrowing fresh money to support the 2025 budget. However, the Finance Minister has debunked this claim, stating that the government only wants to borrow about $1.2 billion. Key fiscal achievements include:

  • Debt Service Ratio: The debt service ratio to revenue has declined from 93% to 60%.
  • IMF Loan Repayment: The government has paid off the $3.4 billion IMF loan obtained during the COVID-19 pandemic.
  • Discontinuation of Ways & Means Deficit Financing: This government has discontinued this practice for the first time in decades.