The All Progressives Congress (APC) has defended the economic reforms introduced by President Bola Tinubu, insisting that Nigerians have reasons to be optimistic about the country’s future amid what it described as notable improvements since the administration assumed office in 2023.
Speaking on Channels Television’s Sunday Politics, the party’s National Publicity Secretary, Felix Morka, said the state of the nation had changed significantly under the current administration.
“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,” Morka said.
He argued that key economic indicators at the time the Tinubu administration took office in May 2023 did not accurately reflect the real state of the economy, citing 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,” he said, adding that the distortions were widespread across the economy.
According to him, any comparison between the current economic situation and that of 2023 must take into account 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 focused on addressing the root causes of economic instability, including the removal of fuel subsidy 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,” he said. “None of that was real.”
He added that ongoing reforms were making the economy more transparent and predictable.
“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 spokesman also pointed to rising foreign reserves and growing investor interest as signs that the reforms were gaining traction.
“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 new investment coming in across sectors, whether it’s oil and gas or other sectors,” he said.
“People are coming in to invest because they have more confidence,” he added
