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Sunday Dare

President Bola Ahmed Tinubu’s bold economic reforms, particularly the removal of the petrol subsidy and the unification of the foreign exchange market, pulled Nigeria back from an economic death spiral that would have led to absolute fiscal insolvency, according to Dr. Sunday Dare.

The Special Advisor to the President on Media and Public Communications made this assertion during an incisive appearance on TVC News’ Politics on Sunday, 30th of August, 2026.

Addressing the mounting public discourse surrounding economic hardship and political realignments ahead of 2027, Dr. Dare delivered a robust defense of the administration’s scorecard, maintaining that the tough choices undertaken by the President are already laying the foundation for long-term national prosperity.

Dismantling a Rent-Seeking Black Hole

Confronting criticisms regarding the soaring cost of living, Dr. Dare took direct aim at opposition figures—specifically former Vice President Atiku Abubakar—over proposals to reintroduce the fuel subsidy regime.

Dismissing the rhetoric as political posturing, he argued that maintaining the old subsidy structure was unsustainable and amounted to a “black hole of rent-tripping” that siphoned public wealth to benefit only a privileged few while forcing the nation to borrow merely to cover the shortfall.

Highlighting the sheer scale of illicit leakages under the old regime, Dr. Dare noted that approximately 55 percent of subsidized petroleum was being smuggled across borders to service the entire West African sub-region before President Tinubu decisively halted the drain.

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While acknowledging the immediate adjustments and pain experienced by ordinary citizens, he emphasized that delaying necessary structural treatment only prolongs national suffering and deepens the economic crisis.

Macroeconomic Resilience and Global Validation

Countering claims that the administration’s economic indices are disconnected from everyday realities, Dr. Dare pointed to tangible markers of recovery that signal a turning point from reform to stabilization.

He noted that international rating agencies like Moody’s have upgraded Nigeria’s outlook from stable to positive, pointing directly to the structural policies implemented over the past three years.

Furthermore, gross foreign reserves have surged to $52.7 billion—the highest level recorded in 17 years—while GDP growth has ticked upward to 3.89 percent, supported by a strengthening trade surplus and an encouraging revival in the manufacturing sector.

Domestic oil production has similarly rebounded to between 1.6 and 1.7 million barrels per day, bolstered by increased domestic refining capacity.

Clarifying Border Governance and Security

Addressing persistent narratives that border closures are choking legitimate trade, Dr. Dare forcefully dismissed the claims, clarifying that Nigeria’s land borders remain officially open, with additional corridors—such as the Kebbi border point—unsealed earlier this year.

However, he stressed the critical distinction between open trade and reckless border management.

Emphasizing that national security must never be compromised for political expediency, he explained that a rigorous governance and security regime is vital to curb the unfettered inflow of illicit arms and transnational terrorism, citing global security data showing that major attacks heavily cluster near porous international boundaries.

Channeling Savings into Targeted Social Investments

Addressing public anxiety over the destination of freed-up public funds, Dr. Dare detailed how savings from the subsidy removal, alongside an expanding non-oil tax revenue base reaching ₦25 trillion, are directly funding critical social intervention programs.

Key beneficiaries include the NELFUND student loan scheme supporting over 1.3 million students, expanded conditional cash transfers targeting millions of vulnerable households, and targeted healthcare interventions such as free C-sections and heavily subsidized hospital treatments.

Additionally, infrastructural projects like the AKK pipeline and the rollout of compressed natural gas (CNG) alternatives are actively working to cushion transport and production costs.

Unfazed by 2027 Opposition Coalitions

Looking ahead to the political landscape of 2027, Dr. Dare expressed absolute confidence in President Tinubu’s electoral prospects, brushing off concerns regarding the mobilization of a united opposition coalition.

He maintained that the administration’s evidential track record across agriculture, infrastructure, education, and economic diversification provides an unassailable foundation.

“When presented with the facts, Nigerian voters will recognize the courage it took to build a stable foundation rather than pander to populist illusions,” Dr. Dare stated, asserting that the President remains firmly on course to complete an 8-year mandate of enduring institutional renewal.

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