As Nigeria’s economy continues to record deleterious inflation, causing hardship and hunger, the All Progressives Congress (APC) has praised President Bola Tinubu’s sweeping economic reforms, citing the progress made in trade balance, revenue-to-debt service ratio, and infrastructure development.
The APC, in a statement released on Sunday, contends that these achievements mark a transformation in Nigeria’s economic stability.
The APC noted that under Tinubu’s administration, Nigeria has shifted to a trade surplus, reporting nearly N7 billion at the end of Q2 in 2024, and has significantly improved its revenue-to-debt service ratio from a staggering 97% in 2023 to 68% this year. Additionally, foreign reserves have reached over $40 billion, and the economy grew by 3.19%, with a robust push toward non-oil export diversification. The Nigerian stock exchange is now among the world’s most profitable, and infrastructure investments are advancing rapidly.
The statement which was signed by the APC’s National Publicity Secretary Felix Morka, the party highlighted Tinubu’s innovative welfare initiatives, such as the Nigerian Credit Corps, the National Education Loan Fund (NELFUND), a reviewed minimum wage, and extensive cash transfers reaching over 25 million of Nigeria’s poorest citizens. “Our country is on the cusp of prosperity and enduring greatness,” Morka stated, underscoring that Tinubu’s administration is delivering the groundwork for a lasting economic recovery.
Responding to recent criticism from PDP leaders, including Governor Makinde, Morka contended that the APC’s reform agenda threatens the relevance of their 2027 political aspirations. “Makinde and his partisan cohorts are worried that Tinubu’s transformative policies will consign their ambitions into the trash bin of political irrelevance,” Morka argued.
The APC urged Nigerians to rally behind Tinubu’s administration as these reforms begin to yield tangible benefits for all, stating that the reforms not only demonstrate progress but aim to secure Nigeria’s economic future.
