APC Accuses Peter Obi of Attempting to Incite Nigerians Against President Tinubu

'Seun Ibukun-Oni, Abuja 

DAILY COURIER - The All Progressives Congress (APC) in a strongly worded press statement has accused Peter Obi, the Labour Party's 2023 presidential candidate, of spreading misinformation to incite public outrage against President Bola Ahmed Tinubu's administration.

The statement by Felix Morka, APC's National Publicity Secretary, criticized Obi for his recent comments on Nigeria's economic situation, describing them as a mix of "half-truths, blatant distortions, and misinformation." Morka claimed that Obi's assertions were designed to mislead the public and unfairly blame the current administration for the country's economic challenges.

Obi had stated that the nation's economic crisis resulted from nine years of APC rule and claimed the Tinubu administration was not addressing poverty and unemployment. Morka countered that the economic issues have deeper roots, originating from the previous Peoples Democratic Party (PDP) administration. He highlighted the significant GDP decline from 7.98% in 2010 to 2.79% in 2015 under PDP rule and pointed out global factors such as the oil price crash, geopolitical tensions, and the COVID-19 pandemic as contributors to the ongoing economic woes.

"The facts tell a far more complex and different story. The country’s economic decline began under the watch of the Peoples Democratic Party (PDP) with GDP growth plummeting from 7.98% in 2010 to 2.79% in 2015. And since 2015, the global oil price crash, geopolitical tensions, climate change, global COVID pandemic and rising population have all taken a toll on Nigeria's economy that is almost entirely dependent on drastically reduced oil export earnings.

"The growth recorded during the PDP years was due entirely to high price of crude oil and increased government spending that it supported. 

"It is noteworthy that between 2007-2014, Nigeria earned $531.2 billion under the PDP, compared to $287.8 billion under APC between 2015-2022. This drastically reduced export earnings under the APC administration was even further stretched thin by the country’s population surge from 184 million in 2015 to 229 million in 2024" the statement reads in part.

Morka emphasized that the PDP had failed to address fundamental economic challenges despite substantial revenues, leaving the country vulnerable. He argued that Tinubu's administration is actively implementing bold reforms to revitalize the economy, including diversification, infrastructure development, and social welfare programs.

Contrary to Obi's bleak portrayal, Morka presented a series of positive economic indicators: a record N6.52 trillion trade surplus in Q1 2024, an increase in foreign reserves to over $34 billion, and a 66.27% rise in capital inflows. He also noted the Nigerian Stock Exchange's milestone, crossing the 100,000 benchmark, and projected GDP growth of 3.1% for 2024 by the International Monetary Fund (IMF).

Morka dismissed Obi's criticisms as politically motivated and unconstructive, urging for collective efforts to address the nation's challenges. He asserted that Tinubu remains dedicated to economic reforms and building lasting prosperity for Nigeria.

The statement concluded with a call for opposition leaders to avoid spreading false narratives and instead contribute to the nation's development.