The All Progressives Congress (APC) has accused the African Democratic Congress (ADC) of misleading Nigerians over claims about rising poverty levels in the country.
In a press statement issued in Abuja on March 14, the ruling party said recent criticisms of the administration’s economic reforms misrepresent the context of Nigeria’s ongoing policy changes.
The APC said the removal of fuel subsidy and the reform of the foreign exchange system were necessary to address long-standing economic distortions.
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According to the statement, previous administrations had avoided implementing these reforms due to concerns about the short-term hardship they might cause.
However, President Bola Ahmed Tinubu announced the end of the fuel subsidy during his inauguration on May 29, 2023. His administration also unified Nigeria’s multiple foreign exchange windows.
The party described the decisions as bold reforms aimed at stabilising the economy and creating a more resilient financial system.
The APC criticised the ADC for citing a report presented at an Agora Policy dialogue which indicated that Nigeria’s poverty rate had increased from 49 percent to 63 percent.
According to the ruling party, the ADC’s interpretation of the report ignores the broader context of structural reforms required to correct long-standing economic challenges.
The APC also defended the decision to remove fuel subsidies, describing the policy as one of the most consequential fiscal reforms in Nigeria’s recent history.
It said the subsidy system had placed a heavy burden on public finances for decades, consuming trillions of naira annually while delivering limited benefits to ordinary citizens.
The party further argued that the subsidy regime encouraged inefficiencies, corruption, and cross-border fuel smuggling.
According to the APC, resources previously spent on fuel subsidies are now being redirected to priority sectors such as infrastructure, education, healthcare, and social development.
The party maintained that the current reforms aim to build a stronger and more sustainable economy for Nigeria.
