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APC Reacts To Obasanjo’s Verdict On Tinubu’s ‘Wrongly Implemented’ Policies
APC Reacts To Obasanjo’s Verdict On Tinubu’s ‘Wrongly Implemented’ Policies....KINDLY READ THE FULL STORY HERE▶
The ruling All Progressives Congress (APC) has responded to former President Olusegun Obasanjo’s recent remarks on President Bola Tinubu’s key policies, particularly the removal of the fuel subsidy and the harmonization of foreign exchange (FX) rates. While Obasanjo acknowledged the necessity of these policies, he criticized their implementation, stating that they have adversely affected the Nigerian economy……CONTINUE READING
In a statement issued by APC spokesman Felix Morka, the party acknowledged Obasanjo’s recognition of the necessity of these policies but defended the Tinubu administration’s approach. Morka highlighted that while these tough decisions were essential to set the nation on the right track, the government was aware of their immediate harsh effects and has taken steps to mitigate them.
Obasanjo, in a statement on Sunday, argued that the current administration has not effectively managed the economy to inspire confidence and attract foreign investors. He pointed out that the policies on fuel subsidy removal and exchange rates had impoverished the economy and Nigerians, and were pushing foreign investors away. Obasanjo emphasized that “the present administration has not found the right way to handle the economy to engender confidence and trust for investors to start trooping in.”
He criticized the government’s handling of three key issues: the removal of subsidies, closing the gap between black market and official exchange rates, and dealing with the military coup in Niger Republic. According to Obasanjo, these decisions, while necessary, have been poorly implemented and have led to economic challenges.
In response, the APC maintained that the policies were indeed necessary, as Obasanjo rightly agreed. The party assured that the government is now taking corrective measures to address the impact of these policies on citizens. Morka stated, “Obasanjo rightly agreed that the policy of fuel subsidy removal and harmonisation of the FX rates are very good policies. Government is now taking the step to right the impact of the two major policies which although healthy and necessary have impacted on the citizens.”
This exchange highlights the ongoing debate on the effectiveness of Tinubu’s economic strategies and the broader implications for Nigeria’s economic stability and growth. The APC’s defense suggests a commitment to refining these policies to better serve the nation’s interests while addressing the immediate hardships faced by the populace.
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