President Bola Tinubu
Daniel Bwala, Special Adviser on Policy Communications to President Bola Tinubu, says state governors are experiencing an “oil boom-era” revenue under the current administration. According to Bwala, governors can now pay salaries, embark on infrastructure projects, settle debts, and plan for the future due to increased revenue.
The Tinubu administration has significantly improved state revenues, enabling governors to meet wage obligations and invest in projects. Twenty-seven states that were previously bankrupt and unable to pay salaries are now financially stable. Bwala attributes this financial turnaround to President Tinubu’s economic reforms, including the removal of fuel subsidies and foreign exchange liberalization.
These reforms have led to increased investment inflows into various sectors, including oil and gas, manufacturing, and solid minerals. Nigeria has seen a significant trade surplus, with a total trade volume of N138 trillion in 2024, representing a 106% increase compared to 2023.
Bwala’s comments suggest that the Tinubu administration’s policies are driving tangible and positive change, enabling governors to fulfill their promises and improve the lives of their citizens. The increased revenue has given governors a sense of financial security, allowing them to plan for the future and implement projects that will benefit their states.
The adviser also highlighted the administration’s efforts to improve the business environment and attract investments. He noted that the president’s policies have created a favorable climate for businesses to thrive, leading to increased economic activity and revenue generation.
Overall, Bwala’s statement paints a positive picture of the current state of Nigeria’s economy under the Tinubu administration. The increased revenue and financial stability being enjoyed by state governors are seen as a direct result of the administration’s economic reforms and policies.
