The All Progressives Congress has defended the economic policies introduced by President Bola Tinubu, insisting that the reforms are gradually repositioning Nigeria for sustainable growth and restoring confidence in the nation’s future.
Speaking during a television interview, APC National Publicity Secretary, Felix Morka, said the country’s economic condition has improved significantly compared to what the current administration inherited in 2023.
According to him, Nigerians have reasons to remain optimistic despite the challenges associated with ongoing reforms.
“Nigerians have every reason to be more confident about their country and hopeful about the future because the situation today is markedly different from what it was in 2023,” Morka said.
The APC spokesman argued that many of the economic indicators before the Tinubu administration took office did not accurately reflect the realities on the ground due to widespread distortions in critical sectors of the economy.
“As of May 2023, the economy was facing serious difficulties. Many of the figures being presented at the time did not reflect reality because distortions had become deeply entrenched across different sectors,” he stated.
Morka explained that comparing current economic realities with those of 2023 without considering the structural issues inherited by the administration could be misleading.
“It is difficult to make a direct comparison because much of what existed then was unsustainable. The reforms are addressing long-standing distortions that had masked the true condition of the economy,” he added.
He noted that the government had focused on tackling fundamental challenges, including the removal of fuel subsidy and reforms in the foreign exchange market.
“The President has concentrated on resolving the root causes of economic distortions, whether in the subsidy regime or the foreign exchange system. These measures are aimed at creating a more transparent and realistic economic environment,” Morka said.
According to him, planning and policymaking become more effective when based on economic realities rather than artificial controls.
“What Nigerians are experiencing today is closer to the actual state of the economy. When policies are built around reality, the outcomes are more sustainable and provide a stronger foundation for future growth,” he said.
The APC spokesman also cited improvements in Nigeria’s foreign reserves and growing investor interest as signs that the reforms are beginning to yield positive results.
“The increase in foreign reserves and renewed investor confidence show that the international community is taking Nigeria more seriously. Investments are coming into sectors such as oil and gas and other areas of the economy because investors have greater confidence in the country’s direction,” he stated.
Morka maintained that while the reforms may involve short-term sacrifices, they are necessary steps toward building a more stable and resilient economy for the future.
