The All Progressives Congress has dismissed the appraisal of security and the state of the economy by former Labour Party Presidential candidate Peter Obi as misplaced.
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In his New Year message, Obi declared that both the economy and security situation were not encouraging.
The National Publicity Secretary of the APC, Barrister Felix Morka, in a statement on Thursday night, stated, “In reality, 18 months later, the economy under President Bola Ahmed Tinubu’s administration has shown a steady record of progress, including massive trade surpluses, trillions in stock market wealth creation, a surge in foreign direct investment due to increased confidence in the economy, enhanced foreign reserves, a significant decline in the debt servicing ratio from 90 percent to about 64 percent, higher incomes for farmers, a massive increase in federal allocations to states and local governments,
Deliberate and patriotic efforts to plug leakages and shore up the nation’s revenue base, the restart of moribund Port Harcourt and Warri refineries, remarkable improvement in oil production and the export of petroleum products, the decimation of terrorist leaders, and overall improvement in security. These and other measures aim to meet the $1 trillion economy target of this administration.”
Morka further argued: “Despite these and other initial beneficial outcomes of ongoing unprecedented reforms, the administration is doubling its efforts to ensure that these reforms deliver their fullest benefits for the sustainable growth and transformation of our country.”
The statement continues: “In his New Year message, President Bola Tinubu acknowledged that the ‘cost of food and essential drugs remained a significant concern for many Nigerian households.’ To reverse this trend, the President assured that his administration was committed to lowering food prices by boosting food production and promoting local drug manufacturing.
“Mindful of the threat that the current inflation rate poses to our economy, President Tinubu has also vowed to reduce it from 34 percent to 15 percent during this fiscal year.
“With the vigor in the administration’s war on corruption, evidenced by ongoing investigations and the trial of well-heeled Nigerians, Obi’s pontification on the urgent need to tame corruption is a clear case of carrying coal to Newcastle.
“It is ironic that Peter Obi, who now arrogates to himself the title of omniscient and philosopher’s stone when it comes to our nation’s challenges, left no record of significant achievement—let alone transformation—during his eight-year tenure as Governor of Anambra State.
“Like his co-travelers in the People’s Democratic Party (PDP), Obi’s obsessive pessimism and endless but futile efforts to incite public outrage against the administration stem from their realization that President Tinubu is unwittingly cementing their ultimate political irrelevance through his visionary and comprehensive reforms, which are transforming the fundamental pillars of our national life.
“Under the banner of the Renewed Hope Agenda, President Tinubu is dutifully turning our nation’s fortunes around. He deserves the support and patience of Nigerians to consolidate the deep economic foundation he has laid and deliver a vibrant, prosperous new Nigeria for the good of all. We urge Nigerians to remain confident in the brighter days ahead.”
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