The All Progressives Congress (APC) has dismissed as stale, prescriptions to turn around the nation’s dwindling economic fortunes by former Vice President and People’s Democratic Party (PDP) presidential candidate in last general elections, Atiku Abubakar.
The former VP has in a statement on Sunday offered what he called alternative approaches to turn around the economic and mitigate the harsh economic conditions of the average Nigerian.
The APC in a statement on Monday however labelled Atiku economic prescriptions as stale.
The ruling party national publicity secretary, Felix Morka in a statement said ” Atiku’s policy prescription was a disappointing rehash of more of the same old disastrous policy approaches that brought our country to its knees, to begin with, under the PDP’s long rule.”
It reads in part:” Since his electoral loss in 2023, presidential candidate of People’s Democratic Party (PDP), Alhaji Atiku Abubakar, has been restless. His unabated wholesale condemnation of every policy initiative of President Bola Ahmed Tinubu was punctuated, last Sunday, by a statement of what he would have done differently to solve our country’s challenges and transform Nigeria, had he been elected President.
“Atiku’s policy prescription was a disappointing rehash of more of the same old disastrous policy approaches that brought our country to its knees, to begin with, under the PDP’s long rule.
“While conceding that he would have removed fuel subsidy and eliminated the multiple exchange rate regimes, Atiku offered an implementation plan that regurgitates the same tired and ineffective ideas that turned widespread corruption, inefficiency, and economic stagnation as pillars of state policy under successive PDP administrations.
“Atiku’s policy offering starkly failed to acknowledge complex contradictions, past mistakes and the extreme urgency of the moment.
“His gradualist approach to subsidy removal and foreign exchange reforms have been tested before and failed to produce any significant outcomes. Specifically, his preferred managed-floating system unfairly favors opportunists and cronies who exploit and fleece the system for personal gain to the extreme detriment of the Nigerian people.
“Atiku’s gradualist model did not address Nigeria’s problems of old, did not fundamentally alter the structure of our economy, and cannot address our current, more complex, challenges. In a rational manner, the Central Bank of Nigeria (CBN) has continued to intervene in the foreign exchange market, to provide some liquidity and reduce pressure on our local currency.
“Atiku’s proposed Economic Stimulus Fund and Infrastructure Development Unit is opaque, lacking clarity and concrete implementation plans. He touts his five-point agenda that aims to restore unity, rebuild the economy, tackle insecurity, and provide qualitative education but bare on detail of how these may be achieved.
“It is now clear for all to see that Atiku’s stale policy prescription has got nothing on the robust economic policy framework now under implementation by President Tinubu’s administration.
“But Atiku has continued to gaslight Nigerians, inciting outrage and enabling street protests against the administration’s reform policy plan that is designed to rebuild the country’s economy that he helped to destroy as a two term Vice President under PDP’s wasteful years.
“Atiku is well aware that price increases are an inevitable consequence of implementing a unified exchange regime and removing petrol subsidy. There’s no magic bulwark against that. Atiku did not prescribe any.
“President Tinubu remains committed to implementing bold, forward-looking and effective policies that address Nigeria’s complex challenges at their roots. President Tinubu’s reform agenda, tough as it may be, is required to build a strong, resilient, vibrant, prosperous and sustainable economy for present and future generations of Nigerians.
“These reforms are crucial for stabilizing the economy, attracting investment, improving the business environment that supports growth and job creation, lifting millions out of poverty, and ensuring inclusive development. These reforms are expected to free up over N1 trillion annually for investment in critical sectors such as infrastructure, healthcare, education, and social investment programs.
“Atiku’s relentless and indiscriminate condemnation of the administration’s policies for selfish partisan political mileage is hypocrisy taken too far. Nigerians expect and deserve more statesmanship from a former Vice President of the Federal Republic.
“We urge Nigerians to double down on their support for President Tinubu’s administration. We remain confident that despite the transient economic pains associated with the reforms lasting gains, better and brighter days are ahead for all Nigerians.”
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