The Presidency on Sunday described as analytically deficient claims by former Vice President Atiku Abubakar that the Federal Government had received an unaccounted oil windfall of N7.98tn, saying no such windfall existed.
While challenging Atiku to show his workings, it dismissed his critique of the economic management of the President Bola Tinubu administration.
“There is no such windfall. Any incremental revenue from higher oil prices is reflected in the monthly FAAC figures,” Special Adviser to the President on Information and Strategy, Bayo Onanuga, argued in a statement signed on Sunday, titled ‘Facts, Not Fear: A Point-by-point Response to Atiku Abubakar On Nigeria’s Reform Journey.’
It disclosed that Nigeria’s dollar-denominated GDP had surged approximately 49 per cent from its post-currency-reform trough of $253bn to around $377bn, and that the debt service-to-revenue ratio had fallen from nearly 100 per cent in December 2022 to below 60 per cent.
It said the figures
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