The All Progressives Congress (APC) has said President Bola Tinubu deserves the support and patience of Nigerians to consolidate the deep economic foundation he has laid.
This comes after Peter Obi, the 2023 Labour Party presidential candidate, claimed in his New Year message that the country’s political, economic, and security situation is worsening daily.
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Mr Obi had expressed concerns over the country’s worsening political, economic and security situation.
The former governor of Anambra State noted that despite the government’s claims of improvement, the country remains one of the world’s poverty capitals, with over 100 million people living in extreme poverty and 150 million in multi-dimensional poverty.
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He said the N70,000 minimum wage is useless as workers cannot afford a bag of rice or half a bag of beans.
Mr Obi asked President Bola Tinubu to reduce the cost of governance and allocate resources to critical areas like security, health, education, and poverty alleviation.
He also called for a visible and aggressive approach to combating corruption, ensuring proper investigations and recoveries of missing funds.
However, the APC spokesperson, Felix Morka, in a statement on Thursday, described Mr Obi’s claim as misleading and intended to score cheap political points.
According to Mr Morka, the economy has shown significant progress in the last 18 months, with a steady record of growth, a 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 the debt servicing ratio from 90 to about 64 per cent.
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Mr 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 Nigerian 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 per cent to 15 per cent 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,” Mr Morka said.
He stressed that Mr Tinubu deserved the support and patience of Nigerians to consolidate on the deep economic foundation he had laid.
Mr Morka recalled that the president also hinted at his administration’s readiness to consider a national living wage that would address the living conditions of workers instead of a minimum wage.
“This is a significant move, as it shows that the government is willing to listen to workers’ concerns and take concrete steps to improve their welfare.
“Tinubu is dutifully turning the nation’s fortunes around, and he deserves the support and patience of Nigerians to deliver a vibrant, prosperous new Nigeria for the good of all,” he said.
(NAN)
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