President Bola Tinubu deserves the support and patience of Nigerians to consolidate on the deep economic foundation he has laid, the All Progressives Congress, APC, has disclosed.
This came after the 2023 Labour Party presidential candidate, Mr Peter Obi, claimed in his New Year message that the country’s political, economic and security situation is worsening daily.
APC’s spokesman, Mr Felix Morka, in a statement on Thursday, described Obi’s claim as misleading and intended to score cheap political points.
According to Morka, the economy has shown significant progress in the last 18 months, with a steady record of growth, massive balance of trade surpluses and a surge in foreign direct investments.
He attributed this development to increased confidence in the economy, enhanced foreign reserve and a significant decline in debt servicing ratio from 90 percent to about 64 percent.
Morka also noted that the administration is working to ensure that the ongoing reforms deliver their fullest benefits for the country’s sustainable growth and transformation.
“President Tinubu has acknowledged that the cost of food and essential drugs remains a significant concern for many households.
“He has assured that his administration is committed to lowering food prices by boosting food production and promoting local production of drugs.
“He has also vowed to reduce inflation from 34 percent to 15 percent in the course of this fiscal year.
“With the vigour in the administration’s war on corruption, Tinubu is turning the nation’s fortunes around,” Morka said.
