The National Chairman of the All Progressives Congress (APC), Professor Nentawe Goshwe Yilwatda, has said that international recognition of Nigeria’s economic reform efforts by the World Bank and the International Monetary Fund (IMF) demonstrates that President Bola Ahmed Tinubu’s policies are laying the foundation for long-term economic growth.
Yilwatda made the remarks in Uyo, Akwa Ibom State, during an APC rally held at the Senator Godswill Akpabio International Stadium, where President Tinubu and other party leaders addressed supporters.
According to a statement issued by his Special Adviser on Media and Information Strategy, Abimbola Tooki, the APC chairman described Tinubu’s decision to tackle longstanding structural challenges as a demonstration of courageous leadership necessary to reposition the Nigerian economy.
He acknowledged that the reforms had imposed difficult adjustments on citizens but argued that abandoning them could reverse the progress recorded and return the country to the economic difficulties that necessitated the changes.
Yilwatda also expressed confidence in the President’s ambition to build a $1 trillion economy, describing the target as a strategic national development objective supported by deliberate policy decisions and ongoing economic restructuring.
He identified investments in infrastructure, transportation, education, maritime development and financial inclusion as important components of the administration’s economic transformation agenda.
The APC chairman particularly highlighted the Lagos-Calabar Coastal Highway, saying the project would improve connectivity, stimulate commercial activities and create economic opportunities for Akwa Ibom and other coastal communities.
He added that developing Nigeria’s maritime economy would strengthen the competitiveness of coastal states and expand their contributions to national economic development.
On education and social investment, Yilwatda commended the student loan initiative, noting that it was designed to widen access to higher education. He also said targeted interventions for women and small businesses could encourage wider economic participation.
He maintained that 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 supportive business environment.
Yilwatda further cited efforts to improve industrial harmony in educational institutions and settle outstanding obligations to workers, pensioners and retirees of formerly privatised public enterprises as part of the administration’s achievements.
Urging Nigerians to remain committed to the reform process, he warned against abandoning the difficult but necessary measures aimed at rebuilding the economy.
“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.
His comments come amid continuing debates over the impact of the Tinubu administration’s economic policies, particularly their effects on household purchasing power, living costs, employment and business operations.
Although international institutions have acknowledged improvements in some key economic indicators, they have also stressed that persistent poverty, food insecurity and weak job creation remain major challenges.
The central question for the government, therefore, remains how to translate improved macroeconomic indicators into tangible improvements in the living conditions of ordinary Nigerians.
APC Chairman Nentawe Yilwatda says recognition of Tinubu’s economic reforms by the World Bank and IMF signals progress towards Nigeria’s $1 trillion economy ambition.