National Chairman of the All Progressives Congress (APC), Professor Nentawe Yilwatda, has acknowledged growing reservations about the direction of the Nigerian economy.

At a policy roundtable held in Abuja on Tuesday and organised by the All Progressives Congress Professional Forum, the APC Chairman assured Nigerians that the present administration would soon shift its focus from macroeconomic stability to microeconomic prosperity.

Checks revealed that amidst growing external reserves, an increase in Gross Domestic Product, and relative stability in the foreign exchange rate, Nigerians have continued to groan over poor purchasing power.

Professor Yilwatda, who represented President Bola Tinubu at the event to present the scorecards of his administration, declared that the next phase of Renewed Hope would translate to more food, stronger purchasing power for the average Nigerian.

He said: “A good GDP number does not automatically put food on a family’s table. Stronger reserves do not pay school fees. A stronger stock market does not automatically put money into the pocket of a market woman.

“Therefore, we are in the next phase of Renewed Hope which must translate macroeconomic stability into microeconomic prosperity: more food, more jobs, lower inflation, affordable credit, reliable power, more manufacturing, greater exports and stronger purchasing power.”

In a veiled allusion to the declaration by the Presidential candidate of the African Democratic Congress, Atiku Abubakar, to return to the fuel subsidy regime, the APC National Chairman advised Nigerians to pick between consolidation of the progress in the economy and a return to the years of fiscal pressures.

He said: “As we approach 2027, Nigerians will hear many promises. Some will promise to reverse the reforms; others will promise prosperity without confronting the structural problems that brought us here. The question is whether we go backwards or consolidate and improve the progress we have begun.

“Do we abandon infrastructure investment or accelerate it? Do we discourage investors or make Nigeria one of Africa’s preferred investment destinations? Do we allow our ports to serve our domestic economy or position Nigeria primarily as a maritime gateway to the wider African hinterland?

“For the All Progressives Congress, the answer is clear. We choose progress, productivity, investment, infrastructure, innovation, Nigerian enterprise, exports, human capital, and we choose President Bola Ahmed Tinubu. And we choose the ambition of a $1 trillion Nigerian economy by 2030 by Mr President for our common prosperity.

“We must power our industries, develop our digital economy, educate our young people and mobilise the private capital required to transform our productive capacity. Above all, we must begin to see Nigeria differently, not merely as a large domestic market, but as a potential maritime, industrial, digital and logistics powerhouse for Africa.

“The foundation has been laid. The opportunity is before us. The work has begun. Now we must take Nigeria from reform to results, from results to growth, from growth to prosperity, and from prosperity to a $1 trillion economy by 2030.”

Stretching further the narrative of the gains of the present economic policies, the APC National Chairman listed the establishment of social investment programmes such as NELFUND and CREDICORP, which he cautioned must not be reversed.

“We are investing in the future of our young people because they are the greatest asset of the Nigerian economy. Through NELFUND, we are expanding access to higher education so that financial circumstances do not prevent young Nigerians from acquiring the knowledge they need to succeed. We are also supporting young people in technical and vocational education through grants and skills-development opportunities, while programmes to train young Nigerians in digital technologies are equipping a new generation with the skills required for the global digital economy.

“At the same time, through initiatives such as CREDICORP, we are expanding access to responsible credit so that workers, entrepreneurs and businesses can acquire productive assets, grow their enterprises and create jobs. This is not simply social investment; it is an investment in the productive capacity of Nigeria and in the young Nigerians who will ultimately build and drive our $1 trillion economy.” (Nigerian Tribune)