The APC criticized the ADC, saying the opposition was ignorant or blind to the impact of economic reforms

The All Progressives Congress (APC) has criticized the African Democratic Congress (ADC) over its comments on the economic policies of President Bola Tinubu’s administration.

The APC said that the ADC’s view of the latest report presented at the Agora Policy dialogue “reveals a shocking ignorance of economic policy or willful blindness to the justification and transformative impact of ongoing economic reforms”.

Felix Morka, APC national publicity secretary, said the reforms undertaken by the current administration were necessary to save the country from economic stagnation, and that the economic policies introduced by the Tinubu administration reversed decades of structural distortions in the Nigerian economy.

In a statement issued on Saturday, Morka said the fuel and foreign exchange subsidy regime put in place before May 29, 2023, had posed a real threat to Nigeria’s economic viability, and that eliminating or reforming the system had long been part of the national agenda.

Morka said the previous government lacked the political will to implement reforms because of fears of temporary hardship.

Morka said the report cited by ADC acknowledged the need for reforms aimed at correcting structural distortions in the economy.

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He accused the opposition parties of failing to put forward alternative policy proposals.

“It is clear that ADC does not recognize itself as a political party,” he said.

“The ADC has not articulated a single alternative policy position or benefit to the Nigerian people.

“Condemning the APC and its policies has become their operational manifesto, and there is absolutely nothing they themselves or their power-loving leaders can offer.

“ADC continues to wallow in the idea that their empty attacks will endear the party to Nigerians.

“But Nigerians, by far, are smarter than that. They know the Parties that work for them and those that are just fads and disrupting the airwaves like ADC.”

Morka said the removal of fuel subsidies “is one of the most important fiscal policy decisions” in Nigeria’s recent history.

He said the policy previously cost trillions of naira annually but only provided limited benefits to the people.

Morka said resources previously used for subsidies were now being diverted to sectors such as infrastructure, education, health services and social development.

“Today, the benefits of reform are clearer and Nigeria is better for it,” he said.

“Nigerians understand this and have been steadfast and patriotic in providing their much-appreciated support for the government and its reforms.”

Morka said Nigeria’s economy continues to grow and the country’s gross domestic product grew by 4.4 percent last year.

Morka added that the economy is projected to grow by 5.5 percent this fiscal year, and added that local governments also receive higher revenue allocations.