Nigeria is a very poor country — Bayo Onanuga

The Presidency has described Nigeria as a “very poor” country, saying the wealth of the country is overestimated.

Special Adviser on Information and Strategy to the President, Bayo Onanuga, stated this in an interview on Arise Television on Monday, February 12, 2024.

According to Onanuga, Nigeria is still a very poor country considering its low per capita income, compared to other African nations. He said, “Nigeria is a very very poor country, to be honest. I think our wealth is overestimated,”

On the state of Nigeria’s economy and the administration’s efforts to ensure stability, the presidential aide said, “I think we have a poor estimation of the wealth of the country, we are a very poor country.”

The presidential aide added that with 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.”