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'Seun Ibukun-Oni, Abuja
DAILY COURIER - The All Progressives Congress (APC) has dismissed former Anambra State governor and Labour Party presidential candidate, Peter Obi’s recent criticism of President Bola Tinubu’s economic policies, describing his remarks as baseless and indicative of political desperation.
During an interview on Arise Television’s Prime Time on April 1, 2025, Obi accused President Tinubu of implementing ineffective economic reforms, claiming he would have managed the economy better. However, the APC, through its National Publicity Secretary, Felix Morka, countered Obi’s assertions in a statement released on April 2, 2025, arguing that Tinubu’s economic policies have yielded measurable success.
Morka stated that Obi’s comments amounted to an exercise in futility, as they failed to discredit the administration’s economic strides. He further criticized Obi’s persistent claims of superiority in economic governance, likening him to an “unlicensed backseat driver” unwilling to accept the reality of his election loss.
“Mr Obi’s favourite retort, ‘I would have done better as president,’ is a symptom of an election failure-induced hangover from which he has not awakened. His attempts to undermine President Tinubu’s transformative economic policies are not only unconvincing but also reflect political frustration,” Morka stated.
### Tinubu’s Economic Achievements
The APC detailed several economic accomplishments under Tinubu’s leadership, emphasizing that his administration has effectively addressed Nigeria’s economic challenges. Nigeria’s economy is projected to grow at 3.6% in the current fiscal year, supported by improved trade balances and increased productivity. The administration has also cleared a $7 billion foreign exchange backlog and reduced the debt servicing ratio from 98% to 64%. It has achieved a more stable forex market following the harmonization of multiple exchange rates.
Additionally, local refineries have been revamped and are now operational, leading to greater energy self-sufficiency. Crude oil production has exceeded 1.8 million barrels per day (mbpd), surpassing OPEC’s 1.5 mbpd quota for the first time in years. Nigeria’s stock market is now ranked among the most profitable globally, demonstrating renewed investor confidence. Furthermore, sectors such as agriculture, mining, manufacturing, and the creative industry are experiencing rapid expansion, contributing significantly to GDP growth.
The APC criticized Obi and the opposition for refusing to acknowledge the government’s economic progress. The party pointed to recent assessments from international financial institutions, including Chatham House, which ranked Nigeria’s economy as the most competitive it has been in 25 years.
“While global institutions are applauding Nigeria’s economic transformation, opposition figures like Obi continue to deny the obvious, choosing instead to engage in baseless political grandstanding,” the APC’s statement read.
Morka emphasized that President Tinubu remains undistracted by opposition rhetoric and is committed to sustaining economic reforms that will lead to long-term stability and prosperity for all Nigerians.
“As Tinubu continues to steer the country towards economic recovery, his achievements speak louder than the opposition’s desperate narratives,” he concluded.
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