The All Progressives Congress (APC) has blasted Atiku Abubakar, Rotimi Chibuike Amaechi and Mallam Nasir El-Rufai for reveling in mindless rent-seeking behavior.
Atiku, Amaechi and El-Rufai had accused Tinubu of using poverty as a political tool, arguing that his economic reforms are deepening the country’s hardship by benefiting a small elite while leaving the majority of Nigerians to suffer.
They made the statements at a public lecture held in Abuja last weekend marking the 60th birthday anniversary celebration, Amaechi, former governor of Rivers State and former Minister of Transportation, criticising Tinubu of being responsible for the growing poverty in Nigeria.
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A press release issued by the APC National Publicity Secretary, Felix Morka on Monday, APC out rightly rejected their allegation that the government of President Bola Tinubu is “weaponizing” poverty by not eradicating the scourge in two years.
The party described the trio as united in desperation for power, mocking them for failing to eradicate poverty during a quarter of a century they have been in power.
The APC stated that Atiku, Amaechi, and El-Rufai have all held top political positions in Nigeria from 1999 to 2023 serving as Vice President, Governors, or Ministers yet failed to tackle the very issues they are now accusing Tinubu of neglecting.
“In all 24 years, the trio, individually or collectively, could not and did not eradicate poverty in their states or the country. They did not even attempt to address, let alone tackle, the structural challenges and distortions that stifled the economy and worsened poverty over the years.
“Rather, they revelled in mindless rent-seeking behaviour, sold national assets to their cronies for mere pittance, engaged in corrupt and wasteful expenditures in their states, and relentlessly sponsored state violence against their own people.
“Take the case of Amaechi, the celebrant, who served for an unbroken total of 24 years – eight years as Speaker of the Rivers State House of Assembly, eight years as Governor of Rivers State, and eight years as Minister of the Federal Republic of Nigeria. That’s about a quarter of a century of freeloading by Amaechi on state resources, with absolutely no record of attempting to combat poverty in his Rivers State or the country.
“When Amaechi declared, I am hungry, he must mean, and must be understood to mean, that he is hungry and desperate to return to his felt entitled dependency on state resources and patronage. That he is hungry barely two years out of office simply underscores the depth of the self-serving motivations of Amaechi and his coalition partners in their quest for power for selfish exploitation, and not for the interest of the people,” the party said.
The APC claimed that Nigerians are not fooled by what it described as the disruptive political tactics of Amaechi and his allies, noting that they are steadily losing their influence over the economy.
According to the APC, Atiku, Amaechi, and El-Rufai who were used to exploiting the system are now being forced to adjust to President Tinubu’s groundbreaking reforms, which prioritize hard work, productivity, and innovation over personal gain.
Morka stated, “On the contrary, it was the failure of previous administrations, particularly 16 years of PDP administrations, to allow the Naira to find its real value that created the economic conditions of poverty that the present administration is now addressing.
“The erstwhile artificially overvalued Naira stifled local production, encouraged import dependency, and exacerbated poverty. Ironically, Atiku and Peter Obi, who are now vociferously criticizing President Tinubu’s policies, amassed their wealth from the very import-dependent system they are desperately trying to preserve.
“Atiku, a former Customs Officer, and Obi, a successful importer, reaped enormous benefits from the old system. Their criticisms reek of special interest masqueraded as concern for the people. By allowing market forces to determine the Naira’s value, the administration is taking necessary bold steps to catalyze economic growth, incentivize investment, boost competitiveness, and alleviate poverty.
“Indubitably, in two years, President Tinubu has demonstrated political will to tackle structural barriers to the country’s economic growth and development far more than any other President in Nigeria’s modern history. By his bold economic reforms, President Tinubu is systematically building the most potent bulwark against poverty and positioning the economy to deliver sustained and sustainable growth and prosperity for all Nigerians. “
The party asserted that their attacks on Tinubu’s reforms are purely self-serving, motivated by a desperate ambition to regain power and satisfy their insatiable appetite for rent-seeking an approach that has long hindered the nation’s economic progress.
“The criticisms variously levelled by Amaechi, Atiku, El-Rufai and Peter Obi mask a shameless attempt to perpetuate and cling to the old rent-seeking economy that enriched them at the expense of the Nigerian people.
“As beneficiaries of the corrupt and inefficient economic system, they are discomforted that Tinubu’s reforms are dismantling the insidious and permissive system that enabled and sustained their reckless plunder and exploitation of the economy.
“Meanwhile, Nigerians in productive sectors are reaping the benefits of reforms that have increased opportunities and income. Entrepreneurs, farmers, and service providers are thriving, while rent-seekers like Amaechi and his coalition partners are left seething with rage at the disruption of their ability to milk the system for personal gain as before.
“The removal of fuel subsidy has been a game-changer. It ended massive corruption that plagued the fuel subsidy enterprise, eliminated perennial shortages and queues at petrol stations, and has sparked a surge in investments in the oil and gas and other sectors of the economy, further expanding opportunities for businesses and individuals,” it added.
APC insisted that the harmonisation of multiple exchange rates has further bolstered Nigeria’s competitiveness in the global market for goods and capital.
It continued, “With increased revenue, the federal, state, and local governments are now investing more in critical infrastructure, education, health, security, and social welfare.
“Importantly, states that previously struggled to pay N30,000 minimum wage are now paying a significantly higher minimum wage of N70,000 per month. This is a testament to the administration’s commitment to improving the welfare of Nigerians.
“The President’s reforms are dawning a new day for Nigeria, now witnessing economic transformation never before seen in our country’s history, driven by proper pricing of the Naira and fuel, and steadily transitioning the country from a consumption-laden to a production-oriented economic powerhouse.”
