In a statement released in Abuja, Felix Morka, the spokesperson for the All Progressives Congress (APC), has strongly rebutted recent criticisms from Mr. Peter Obi, the Labour Party’s presidential candidate in the 2023 elections and former Governor of Anambra State. Morka accuses Obi of exhibiting a “self-serving obsession with self-promotion” at the expense of accurate and constructive discourse on Nigeria’s economic challenges.
According to Morka, Obi’s latest comments regarding Nigeria’s economic situation are filled with “half-truths, blatant distortions, and misinformation,” aimed at inciting public outrage against the APC government led by President Bola Ahmed Tinubu. Obi’s claim that the economic crisis is a direct result of the APC’s nine-year rule is described as a “revisionist and dishonest” portrayal of the nation’s economic history.
Morka challenges Obi’s assertion by presenting a broader view of Nigeria’s economic trajectory. He notes that the country’s economic decline began under the previous administration of the Peoples Democratic Party (PDP), with GDP growth falling from 7.98% in 2010 to 2.79% in 2015. Since then, the global oil price crash, geopolitical tensions, climate change, the COVID-19 pandemic, and a rising population have further strained Nigeria’s economy, heavily reliant on reduced oil export earnings.
During the PDP years, economic growth was largely driven by high crude oil prices and increased government spending. However, between 2007 and 2014, Nigeria earned $531.2 billion under PDP, while the APC administration, from 2015 to 2022, saw earnings of $287.8 billion. This reduction in export earnings was compounded by the country’s population growth from 184 million in 2015 to 229 million in 2024.
Morka criticizes the PDP for neglecting structural economic reforms that could have mitigated these challenges. He asserts that the APC administration, under President Tinubu, is actively engaged in comprehensive economic reforms and policy interventions aimed at addressing these long-standing issues.
