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The All Progressives Congress, APC, has criticized the African Democratic Congress, ADC, accusing the party of misleading Nigerians in a deceptive manner.
This criticism follows the ADC’s recent remarks regarding the poverty rate in the nation, asserting that it is a widely accepted view that the fuel subsidy and foreign exchange systems, as they were managed before May 29, 2023, posed a significant threat to the economic survival of the country.
The APC maintained that the removal or substantial reform of these systems has been a long-standing item on the national agenda; however, previous administrations failed to demonstrate the political resolve necessary to implement such changes, primarily due to fears of the temporary economic difficulties that these reforms would inevitably bring upon Nigerians.
In a statement issued by Felix Morka, the National Publicity Secretary, the APC noted that President Bola Tinubu declared the termination of the fuel subsidy upon his inauguration and subsequently unified the various foreign exchange systems.
“These courageous and historic policy changes liberated Nigeria from the grips of economic stagnation and disintegration, providing our nation with a viable opportunity to rebuild a stronger, more resilient, and prosperous economy,” the statement asserted.
“The African Democratic Congress (ADC) attempts to misinterpret a recent report presented at the Agora Policy dialogue, which indicated an increase in the poverty rate from 49 percent to 63 percent, as a ‘damning verdict on this administration’s economic policies.’ This reflects either a profound ignorance of economic policy or a deliberate refusal to acknowledge the rationale behind and the transformative effects of the ongoing economic reforms.
“Even the report that the ADC sought to politicize was clear about the necessity of the reforms aimed at rectifying long-standing and debilitating structural distortions within the economy.
“Evidently, the ADC fails to recognize its role as a political party. The ADC has not proposed a single alternative policy or solution that would benefit Nigerians.
“Criticizing the APC and its policies has become its primary function rather than offering constructive alternatives.
“The ADC is still stuck in the belief that its empty attacks will make the party more popular with Nigerians. But Nigerians are, by far, smarter than that.
“They know which party is really working for them and which ones are just talking a lot and making noise, like the ADC. The removal of the fuel subsidy is one of the most significant fiscal policy decisions in the country’s recent history.
“For many years, the fuel subsidy system has put a huge strain on public finances, taking trillions of naira each year, more than 90 percent of all government income—while offering very few real benefits to ordinary Nigerians.
“In reality, the fuel subsidy system caused many problems, including wastefulness, dishonest practices, large-scale fuel smuggling across borders, and made some middlemen and import groups very rich, to the detriment of the Nigerian people.
“The regime was a significant fiscal drain that has now redirected resources to essential sectors such as infrastructure development, education, healthcare, and social development under the present APC-led administration.
“Economic reform often involves making tough decisions between different options, such as keeping a system that is not working well or changing to a better one. This was seen when fuel subsidies were removed.
“Economic reform is never cost-free. It is not free anywhere in the world, and it is not free in Nigeria either. The temporary and now diminishing difficulties faced by Nigerians were an inevitable part of the reforms aimed at building and ensuring a better future for all Nigerians.
“Today, the advantages of the reforms are clearly visible, and Nigeria is in a better situation because of them. Nigerians know this and have remained calm and supportive in their backing of the government and its reform efforts.
“Our economy has rebounded and is expanding steadily. The country’s Gross Domestic Product (GDP) increased by 4.4 percent last year and is expected to grow by 5.5 percent this fiscal year. It also has more than $50 billion in foreign reserves, which is the highest amount in almost twenty years.
“Inflation is still going down and is now moving closer to a single digit. Food inflation is currently at its lowest level in about 13 years. In 2025, non-oil exports reached more than $6 billion, and subnational and local council governments are now receiving higher revenue allocations than ever before, aimed at improving governance and accelerating development at those levels.
“The ongoing economic growth is still helping to create more jobs and build wealth for our people. Farmers are now enjoying the rewards of their labour more than ever before. The government has started and is still carrying out various social support programmes meant to help vulnerable Nigerians during temporary difficult times.
“These include cash transfer programmes, targeted initiatives like student loan support, the expansion of CNG services, and broader efforts to help families and strengthen their resilience.
“As the government continues to focus on social investments, more people in our communities will begin to see the positive effects. The APC-led administration under President Bola Tinubu will remain steadfast in its committed effort to rebuild the nation’s economy for the benefit of current and future generations of Nigerians.”
