The All Progressives Congress has defended the economic reforms implemented by President Bola Tinubu, stating that Nigerians should be optimistic about the country’s future due to the progress recorded since the administration assumed office in 2023.
Speaking on Channels Television’s Sunday Politics, APC National Publicity Secretary Felix Morka said the nation’s condition had improved considerably under Tinubu’s leadership.
“I think that Nigerians have every reason to feel more confident about their country and, therefore, more hopeful about the future, because the state of affairs in this country as of 2023 compared to today is actually like comparing night and day,” he said.
Morka argued that many of the economic indicators inherited by the administration in May 2023 did not accurately reflect the true state of the economy, citing major distortions in the foreign exchange market and other sectors.
“As of May 2023, this country was not doing well. All of the fundamental numbers were off.
“From the exchange rates to just basic living, it was all phantom. A lot of it was phantom, and I say ‘phantom’ because it was not real because the distortions in the economy were overwhelming in every facet,” he said.
According to him, any comparison between the current economic situation and that of 2023 should consider the structural challenges that existed before the reforms were introduced.
“So it’s difficult to make that comparison between 2023 and 2025 because a lot of what you had then was unreal, and that’s the distortion that this government keeps talking about,” he said.
Morka maintained that the Tinubu administration had concentrated on addressing the root causes of those distortions through measures such as the removal of fuel subsidies and reforms in the foreign exchange system.
“What this president has done since 2023 is to really tackle the root causes of all of those distortions—whether it was the fuel subsidy or whether it was the crazy arbitrage in the foreign exchange system. None of that was real.
“And so what Nigerians are dealing with today is closer to reality. And when you plan with reality, then you are more likely to actually have outcomes and results that are more realistic, more defensible, and more promising in terms of the future,” he stated.
The APC spokesperson also pointed to the country’s foreign reserves and growing investor confidence as signs that the administration’s reforms were beginning to produce positive results.
“And today, like you said, we’ve gone from 50 billion. That counts for something because the world is taking us more seriously today, which is why you see a lot of investment, new investment coming in, in all the sectors, whether it’s oil and gas or other sectors.
“People are coming in to invest because they have more confidence,” he said.
