The ruling All Progressives Congress (APC) has condemned recent comment credited to the African Democratic Congress (ADC) about its interpretation of a recent report presented at the Agora Policy Dialogue.
Recall the report indicated that Nigeria’s poverty rate rose from 49 percent to 63 percent.
The ruling party said the opposition’s attempt to portray the report as a condemnation of the Federal Government’s economic direction amounts to a misrepresentation of facts.
According to a statement signed by APC National Publicity Secretary, Felix Morka, the party argued that the ADC’s position reflects either a lack of understanding of economic policy or a deliberate refusal to acknowledge the purpose and long-term impact of the ongoing reforms.
According to the party, the report itself recognised the need for reforms designed to correct what it described as long-standing structural distortions in the Nigerian economy.
“The African Democratic Congress (ADC’s) attempt to spin a recent report presented at the Agora Policy dialogue indicating a rise of poverty rate of 63 percent from 49 percent as a ‘damning verdict on this administration’s economic policies’, speaks either to its shocking ignorance of economic policy or its willful blindness to the justification for, and transformative impacts of, ongoing economic reforms,” the statement said.
The APC maintained that the ADC deliberately ignored key aspects of the report, which highlighted the necessity of policy adjustments.
“Even the report that the ADC sought to cheaply politicize was categorical about the imperative of the reforms meant to correct age-long and crippling structural distortions in the economy,” the party stated.
The ruling party also took a swipe at the ADC, accusing it of failing to provide credible alternatives to the policies it criticises.
“Clearly, the ADC does not recognize itself as a political party. The ADC has not articulated a single alternative policy position or prescription of benefit to Nigerians,” Morka said.
He added that the opposition party appears more interested in attacking the APC than in presenting solutions to the country’s challenges.
“Condemning the APC and its policies has become its operating manifesto with absolutely nothing to offer by itself or by its power-mongering leaders,” the APC said.
According to the APC, repeated criticism without constructive proposals cannot substitute for serious political engagement.
“The ADC continues to wallow in the idea that its empty attacks will somehow endear the party to Nigerians. But Nigerians are, by far, smarter than that. They know the Party that’s working for them and those that are only shooting the breeze and disturbing the airwaves like the ADC,” the statement added.
The APC further defended the Federal Government’s decision to remove fuel subsidy, describing it as one of the most significant fiscal policy steps taken in recent years.
“The fuel subsidy removal represents one of the most consequential fiscal policy decisions in the country’s recent history,” the statement said.
The party argued that the subsidy regime had long imposed an unsustainable burden on public finances.
“For decades, the fuel subsidy regime placed a devastating burden on public finances, gulping trillions of Naira, upwards of 90 percent of total revenue, annually while delivering limited benefits to ordinary Nigerians,” it noted.
According to the APC, the subsidy system also encouraged corruption and economic distortions that worked against the interests of the Nigerian people.
“In reality, fuel subsidy regime enabled widespread inefficiencies, corrupt and fraudulent dealings, large-scale fuel smuggling across borders, enriched middlemen and import cartels to the detriment of Nigerians,” the party stated.
It added that the policy had become a massive drain on government resources.
“The regime was a gaping fiscal hole that drained resources that are now being redirected to vital sectors such as infrastructure development, education, healthcare, and social development under the present APC-led administration,” the statement said.
The party explained that difficult decisions are often unavoidable when implementing major economic reforms.
“Often, economic reform entails making difficult choices among competing alternatives or between maintaining an existing but destructive system or instituting an efficient and beneficial system, as was the case with the fuel subsidy removal,” it said.
The APC also acknowledged that reforms sometimes come with temporary challenges but insisted that such sacrifices are necessary for long-term progress.
“Economic reform is never cost-free. It’s not cost-free anywhere in the world, and it’s not cost-free in Nigeria,” the statement said.
“The transient and now fading hardship experienced by Nigerians was the inevitable cost of reforms that are meant to build and guarantee a better future for all Nigerians,” it added.
The party maintained that the positive effects of the reforms are already becoming visible.
“Today, the benefits of the reforms have become more self-evident, and Nigeria is better for it. Nigerians understand this and have been stoic and patriotic in their highly valued support of the government and its reforms,” the statement said.
The APC also highlighted recent economic indicators, which it said show that the Nigerian economy is gradually recovering.
“Our economy has rebounded and is expanding steadily. The country’s Gross Domestic Product (GDP) grew by 4.4 percent last year and is projected to expand by 5.5 percent this fiscal year with a foreign reserve in excess of $50 billion, the highest in nearly two decades,” it said.
The statement further noted that inflation is beginning to ease.
“Inflation continues to decline and is now trending down towards a single digit. Food inflation is currently at its lowest level in about 13 years,” the party said.
It also pointed to improvements in export earnings and increased revenue allocations to states and local governments.
“In 2025, non-oil export reached over $6 billion while subnational and local council governments now receive unprecedented high levels of revenue allocations our country has ever known, geared to drive effective governance and accelerated development at those levels,” the statement said.
The party added that the broader macroeconomic gains are creating opportunities for Nigerians.
“Macro-economic progress made continues to create job opportunities and wealth for our people. Farmers are reaping the benefits of their labour more than ever before,” it noted.
Reaffirming the government’s commitment, the APC said the administration will remain focused on strengthening the nation’s economic foundation, adding, “The APC-led administration of President Bola Tinubu will not relent in its determined effort to rebuild our country’s economy for the good of the present and future generation of Nigerians.”