The All Progressives Congress (APC) has countered Peter Obi’s claims about Nigeria’s fiscal management under President Bola Ahmed Tinubu. The APC asserts that Tinubu’s administration has reduced the debt servicing ratio from 90% to 64%.
Here are some key points from the APC’s statement:
- Debt Servicing Ratio: The APC claims a significant decline in debt servicing ratio from 90% to 64% under Tinubu’s administration.
- Economic Progress: The party highlights the economy’s steady progress, including massive balance of trade surpluses, trillions in stock market wealth creation, and a surge in foreign direct investments.
- Revenue Growth: The APC notes a significant increase in federal allocation to states and local governments, as well as efforts to plug revenue leakages.
- Obi’s Claims: The APC accuses Obi of using outdated and misleading statistics about Nigeria’s debt situation.
Peter Obi had lamented the country’s worsening economic situation, citing rising poverty and declining GDP. However, the APC’s statement presents a more optimistic view of Nigeria’s economic progress under Tinubu’s administration.
Source: Nairametrics
