Mkpoikana Udoma
Port Harcourt — The All Progressives Congress, APC, has hailed President Bola Tinubu’s sweeping economic reforms for positioning Nigeria as one of the fastest-growing economies in the world, with the country recording a remarkable 4.23 percent GDP growth in the second quarter of 2025, its strongest performance in a decade.
In a statement signed by the party’s National Publicity Secretary, Felix Morka, the APC said Tinubu’s bold fiscal and market-based reforms have broken Nigeria’s historical dependence on oil revenues, sparking “a new era of inclusive growth, local production, and economic resilience.”
“Nigeria is creating a vibrant economic environment powered by diversification, inclusive growth, and job creation rooted in increased local production,” Morka said. “This marks a significant shift from the oil boom-and-bust cycles of the past and heralds a new era of sustainable growth and development.”
The APC noted that Tinubu’s reforms have not only earned Nigeria international recognition but also upgraded growth projections from leading global financial institutions. The International Monetary Fund, IMF, has revised Nigeria’s 2025 growth forecast upward to 3.9 percent, while the World Bank now projects continued expansion at 4.4 percent by 2027.
“Against the backdrop of a slowing global economy, Nigeria’s performance is extraordinary,” the APC statement read. “While advanced economies are growing at a modest 1.5 percent, Nigeria’s economy is outperforming expectations, driven by strong expansion in agriculture, services, manufacturing, and technology.”
The World Bank’s latest global outlook anticipates a slowdown in global growth to 3.2 percent in 2025, yet Nigeria’s output has defied this trend — a development the APC attributed to “President Tinubu’s visionary economic leadership.”
The statement highlighted key milestones achieved under the Tinubu administration, including a 44.3 percent increase in trade surplus to N7.46 trillion in the second quarter of 2025 and a 40.5 percent jump in non-oil revenue to N20.59 trillion between January and August 2025.
“These performance records confirm Nigeria’s resurgence as a producing nation,” Morka declared. “President Tinubu’s forward-thinking leadership has freed Nigeria from its suffocating age-old dependency on oil to a more diversified and resilient economy.”
The APC added that rapid growth in the marine and blue economy, creative industries, agriculture, solid minerals, and manufacturing sectors is generating new jobs and expanding export capacity.
The statement further noted that fiscal stability has improved significantly, with the Federal Accounts Allocation Committee, FAAC, disbursing over N2 trillion monthly for the first time in Nigeria’s history. It also pointed to record-breaking customs revenue of N3.68 trillion — N390 billion above target — and the end of Ways and Means deficit financing as evidence of sound economic management.
“Improved transparency in NNPC remittances and harmonization of the exchange rate regime have contributed to inflation moderation and Naira stability,” Morka added. “Inflation is down to 20.1 percent despite global oil price volatility.”
The APC, however, acknowledged ongoing challenges such as food inflation and poverty, but emphasized that the administration’s agricultural productivity drive and expanded social safety nets are designed to deliver long-term relief.
“We are aware of the hardship faced by many Nigerians,” the statement said. “But economic reforms are gestational, they take time to yield full results. What is clear is that the trajectory is right, and Nigeria is firmly on the path to shared prosperity.”
According to the World Bank, Nigeria’s poverty rate — projected to peak at 62 percent in 2026 — is expected to decline from 2027 as the government’s interventions begin to yield impact across the real sectors.
The APC also cited growing investor confidence as a testament to the success of the reforms, referencing a $300 billion commitment by Qatari investors and rising capital inflows from Asia and Europe.
“Nigeria’s new policy direction has restored credibility and investor trust,” Morka noted. “At this pace of progress, the country is set to surpass World Bank’s projections of growth and development.”
Urging Nigerians to remain patient and supportive, the APC said President Tinubu’s “Renewed Hope Agenda” represents a historic national reset that will ultimately lift millions out of poverty and solidify Nigeria’s position as an African economic powerhouse.
“Despite the self-serving murmurs of a rudderless opposition, President Tinubu remains focused on building a stronger and more prosperous Nigeria,” Morka said. “His re-election in 2027 will consolidate these gains and secure Nigeria’s onward march to enduring prosperity.”
The party concluded that Nigeria’s renewed global image and sustained economic momentum are proof that “the nation now stands on the cusp of a kind of prosperity never before seen in its history.”
