The Presidency has said that President Bola Ahmed Tinubu saved the country from recession in year 2023.
According to Daily Post, this was recently disclosed by Mr. Bayo Onanuga, the President’s Special Adviser on Information and Strategy while stressing that the removal of fuel subsidy alongside other policies implemented by his principal, was for the betterment of the country.
” The national budget Tinubu met in 2023 showed that Ninety Seven percent (97%) of revenue was to be spent on debt servicing, with little reserved for capital, thereby foreclosing growth and jobs “.
Furthermore, he added:
” Confronted with this grim economic reality, President Tinubu faced a difficult choice of balancing reforms political and economic costs against the risks of economic recession. His government chose the former to keep the economy afloat and set it back on the path of growth and prosperity “.
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