The Bola Tinubu administration has said Nigeria "was on life support" when it came to power in May 2023. Legit.ng reports that Tinubu said this on Sunday, November 10, in a statement, by Bayo Onanuga, the president’s special adviser on information and strategy.
It partly reads: “Atiku's critiques of Tinubu’s presidency are mere harebrained propositions devoid of realistic alternatives. He must reckon with the decades of mismanaged economy inherited by the current administration, including exorbitant subsidy expenditures far exceeding government earnings from crude oil.
"As of mid-2023, the landing cost of fuel was between N500 and N600, while it was sold nationwide at an average of N200. The 2023 budget allocated N3.36 trillion for fuel subsidies until June 2023 against a projected N2.23 trillion in oil revenue for the year. The Nigerian state was on life support."