APC Chair: Tinubu Cannot Abandon Economic Reforms Despite Criticism

The National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwatda, has said President Bola Ahmed Tinubu cannot afford to abandon his economic reforms despite persistent criticisms from opposition parties and concerns over their impact on Nigerians.

Yilwatda maintained that reversing the policies would undermine efforts to rebuild the economy and return the country to the economic difficulties that necessitated the reforms.

He made the remarks on Friday in Uyo, Akwa Ibom State, where Governor Umo Bassey Eno hosted President Tinubu and his entourage at a rally held at the Senator Godswill Akpabio International Stadium.

According to a statement signed by Abimbola Tooki, Special Adviser to the APC National Chairman on Media and Information Strategy, Yilwatda acknowledged that the reforms had imposed significant hardship on ordinary Nigerians but insisted that abandoning them would be counterproductive.

“Never again should Nigeria return to Egypt. We cannot afford to abandon the difficult but necessary work of rebuilding our economy and repositioning our country for sustainable growth,” he said.

The APC chairman argued that the administration’s economic policies were laying the foundation for a stronger, more productive and prosperous Nigeria, notwithstanding the difficulties experienced by households and businesses.

He said President Tinubu’s ambition of building a $1 trillion economy should not be viewed merely as a political aspiration but as a strategic national development target supported by deliberate policy choices and ongoing economic restructuring.

Yilwatda also claimed that the direction and potential of the reforms had received recognition from major international economic institutions, including the World Bank and the International Monetary Fund (IMF).

He identified infrastructure development, transportation, education, maritime expansion and financial inclusion as critical components of the administration’s economic transformation agenda.

According to him, sustained investment in these sectors would improve productivity, stimulate economic activities and strengthen Nigeria’s competitiveness in the global economy.

The APC national chairman particularly highlighted the Lagos-Calabar Coastal Highway as a major infrastructure project capable of transforming economic activities across Nigeria’s coastal states.

He said the highway would improve connectivity, facilitate the movement of people and goods, stimulate commerce and unlock economic opportunities for Akwa Ibom and other coastal communities.

Yilwatda further noted that the Federal Government’s determination to develop the maritime economy would strengthen the competitiveness of coastal states and expand their contributions to national economic development.

He argued that improved transportation infrastructure and maritime investment would create opportunities for businesses, attract investments and support employment generation.

On education and social investment, the APC chairman commended the student loan initiative, saying it was designed to widen access to higher education and reduce financial barriers confronting students from disadvantaged backgrounds.

He also highlighted targeted interventions for women and small businesses, which he said were creating opportunities for broader economic participation and supporting entrepreneurship.

Yilwatda said the administration’s tax reforms were intended to reduce the burden on low-income earners and small businesses, allowing them to retain more of their earnings and operate in a more favourable economic environment.

He maintained that the reforms were part of efforts to establish a tax system that supports economic growth while protecting vulnerable segments of society.

The APC chairman also pointed to improved industrial harmony in educational institutions and efforts to settle outstanding obligations to workers, pensioners and retirees of formerly privatised public enterprises as important achievements of the administration.

According to him, these interventions demonstrate the government’s commitment to addressing longstanding challenges while pursuing broader economic restructuring.

He said the reforms and investments were positioning Nigeria for long-term prosperity, insisting that the country must remain focused on its economic transformation agenda.

Yilwatda called on Nigerians to support President Tinubu’s vision of building a stronger, more productive and economically competitive nation.

His remarks come amid continuing public debate over the consequences of the Federal Government’s economic reforms, particularly the removal of fuel subsidy and the unification of the foreign exchange market.

While the administration has consistently defended the policies as necessary to restore economic stability and encourage investment, critics have raised concerns about inflation, rising living costs and the pressure on households and businesses.

The APC chairman’s position underscores the ruling party’s determination to defend the reforms and maintain their implementation as the country approaches the 2027 general elections.