The All Progressives Congress (APC) has dismissed claims made by Peter Obi, the Labour Party’s 2023 presidential candidate, asserting that the Nigerian economy is showing strong signs of recovery across all sectors. The ruling party’s statement was a response to Obi’s New Year press conference on Thursday, where he criticized the political, economic, and security conditions in the country.
Obi expressed concerns over what he called the worsening state of Nigeria, despite the government’s claims of progress. He argued that the country’s national challenges were visibly escalating, highlighting Nigeria’s ranking as one of the poverty capitals of the world. Obi lamented that over 100 million Nigerians live in extreme poverty, and that the nation’s economic fortunes had declined significantly under the current administration.
He pointed to a sharp drop in Nigeria’s GDP, claiming that the country had fallen from being Africa’s largest economy with a GDP of $574 billion in 2014 to now ranking fourth on the continent, with a GDP of approximately $200 billion. Additionally, Obi criticized the worsening security situation, citing Nigeria’s ranking of 143rd out of 163 countries on the Global Peace Index, and pointed out the rise in food insecurity.
In response, the APC issued a statement rejecting Obi’s assertions, emphasizing that all indicators now show Nigeria’s economy is on the rebound. The party’s National Publicity Secretary, Felix Morka, described Obi as Nigeria’s “leading doomsayer” and suggested that the former governor’s comments were politically motivated and misleading.
Morka argued that the administration of President Bola Ahmed Tinubu had made significant progress in various areas, including a massive surge in foreign direct investment, a decline in the debt servicing ratio, and improvements in oil production and security. The APC also highlighted the restart of the Port Harcourt and Warri refineries, the creation of trillions in stock market wealth, and a decline in terrorist activities as evidence of the government’s success.
The statement further noted that despite these positive developments, the Tinubu administration remained committed to addressing pressing issues such as food prices and inflation, with plans to reduce inflation from 34 percent to 15 percent within the fiscal year.
The APC also criticized Obi’s lack of significant achievements during his eight years as governor of Anambra State, contrasting his tenure with the current administration’s reforms. It urged Nigerians to remain optimistic and confident in the reforms underway, emphasizing the importance of supporting President Tinubu’s efforts to build a prosperous and transformed nation.
