The All Progressives Congress has accused the African Democratic Congress of misleading Nigerians over claims about the country’s rising poverty rate, insisting that ongoing economic reforms under President Bola Ahmed Tinubu are necessary steps toward long-term recovery.
In a press statement issued in Abuja on March 14, the ruling party said criticisms by the ADC regarding the state of the economy and poverty levels were politically motivated and failed to acknowledge the broader context of the government’s reform policies.
The APC was responding to recent remarks linked to an economic report presented at the Agora Policy dialogue which suggested that Nigeria’s poverty rate had risen to about 63 per cent from 49 per cent.
According to the party, the opposition’s interpretation of the report ignores the structural problems that existed in the economy prior to the reforms introduced by the current administration.
“It was a matter of national consensus that the fuel subsidy and foreign exchange regimes as operated prior to May 29, 2023 had become an existential threat to the country’s economic survival,” the statement said.
The party argued that successive governments had long acknowledged the need to overhaul the subsidy system and the multiple exchange-rate structure but lacked the political will to implement such measures because of the temporary economic hardship they might cause.
It noted that President Tinubu announced the removal of fuel subsidy shortly after taking office and later harmonised the country’s foreign exchange systems as part of efforts to stabilise the economy.
“These bold and historic policy shifts unshackled Nigeria from the throes of economic stagnation and disintegration and gave our country a fighting chance to build back a stronger, more resilient and prosperous economy,” the statement added.
The APC criticised the ADC for what it described as attempts to politicise economic data without offering credible policy alternatives.
“Clearly, the ADC does not recognise itself as a political party,” the statement read. “The ADC has not articulated a single alternative policy position or prescription of benefit to Nigerians.”
The ruling party also accused the opposition group of focusing mainly on criticising government policies rather than presenting workable economic solutions.
“Condemning the APC and its policies has become its operating manifesto with absolutely nothing to offer by itself or by its power-mongering leaders,” the statement added.
Defending the government’s reforms, the APC said the removal of fuel subsidy was one of the most consequential fiscal decisions in Nigeria’s recent history.
It argued that for decades the subsidy programme placed enormous pressure on government finances, consumed trillions of naira annually and benefited a small network of middlemen and fuel importers rather than ordinary citizens.
According to the party, the system also encouraged corruption, cross-border fuel smuggling and other economic distortions that drained public resources.
“The regime was a gaping fiscal hole that drained resources that are now being redirected to vital sectors such as infrastructure development, education, healthcare and social development,” the statement said.
The party acknowledged that economic reforms often come with short-term hardship but maintained that the changes were necessary to place the country on a more sustainable path.
“Economic reform is never cost-free anywhere in the world and it is not cost-free in Nigeria,” it stated. “The transient hardship experienced by Nigerians was the inevitable cost of reforms meant to build and guarantee a better future.”
It added that the benefits of the reforms are gradually becoming visible and expressed confidence that Nigerians understand the long-term objectives of the policies.
The exchange between the APC and ADC follows growing public debate over the economic impact of recent policy reforms, particularly the removal of fuel subsidy and the unification of the foreign exchange market, both of which have contributed to rising living costs across the country.
