The All Progressives Congress has commended President Bola Tinubu for his bold and transformative economic reforms, declaring that they have significantly stabilised Nigeria’s macroeconomic fundamentals and repositioned the country for sustainable growth.
In a statement issued on Thursday by the APC National Publicity Secretary, Felix Morka, the ruling party said Tinubu’s decisive actions, particularly in the areas of fuel subsidy removal, foreign exchange unification, and debt restructuring, have helped address long-standing distortions that plagued the nation’s economy for decades.
According to Morka, the Tinubu administration’s far-reaching reforms have not only restored investor confidence but also attracted over $50 billion in foreign direct investments, achieved consecutive trade surpluses since 2023, and reduced the debt servicing ratio from 98 percent to 68 percent.
“These reforms were inevitable and crucial to stabilising and positioning the economy for steady and sustainable growth,” Morka said.
He noted that the removal of fuel subsidies and harmonisation of exchange rates were landmark decisions that previous administrations failed to implement, often preferring to “kick the can down the road.”
Morka stated that under Tinubu’s leadership, Nigeria has recorded a GDP growth of 3.38 percent in the fourth quarter of 2024, a development lauded by both the International Monetary Fund and the African Development Bank as a clear indicator of a rebounding economy.
The party spokesperson also highlighted other notable achievements of the administration, including the clearance of the Central Bank’s backlog of foreign exchange obligations, overhauling the tax system, granting financial autonomy to local governments, and improving oil production which now stands above 1.8 million barrels per day.
“In the face of daunting generational challenges, this President demonstrated political will never before recorded in our contemporary political history.
“Like a confident surgeon, he has enacted and continues to enact policy reforms skillfully designed to give our country not just a chance of urgent resuscitation but a real shot at rejuvenating wellness”, Morka noted.
While acknowledging the temporary hardships imposed by the reforms, the APC maintained that the policies were designed with the long-term wellbeing of Nigerians in mind.
It urged citizens to remain patient and supportive as the administration continues to unfold the Renewed Hope Agenda.
The statement comes as President Tinubu marks the midpoint of his first four-year tenure, with the APC expressing confidence in the administration’s commitment to delivering even greater benefits to Nigerians in the years ahead.
