WTO DG's Commendation Leaves Opposition Parties Disoriented, APC G3 Says

Strategic Insights -

The Directorate-General (DG) of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala's commendation of President Bola Ahmed Tinubu's economic policies has further entrenched the administration's efforts in stabilizing Nigeria's economy. According to the WTO DG, President Tinubu and his team have worked hard to stabilize the economy, and what is needed next is economic growth. The APC Grassroots Governance Group (APC G3) has responded to this development, stating that the opposition and naysayers are confused and stranded as the WTO DG's assessment is a true reflection of the country's economic state. The group also highlighted the successes of the administration's policies, including forex reserves climbing to $40 billion, oil production rising to 1.8 mbpd, and the clearing of $14 billion in national debt and $7 billion in forex obligations.

Key Takeaways:

  • President Bola Ahmed Tinubu and his team have been commended by the WTO DG, Dr. Ngozi Okonjo-Iweala, for stabilizing Nigeria's economy.
  • The APC G3, a frontline support group of the ruling APC, has stated that the opposition and naysayers are confused and stranded by the WTO DG's assessment.
  • Nigeria's forex reserves have climbed to $40 billion under the current administration.
  • Oil production has risen to 1.8 mbpd, with a 3.13 percent GDP growth in Q1 2025 and a 7 percent growth target by 2027.
  • The administration has cleared $14 billion in national debt and $7 billion in forex obligations.
  • Record counter-terrorism operations have been carried out, and governors in Abia, Enugu, Zamfara, and beyond have revived long-abandoned projects without new borrowing.

Statistics:

  • Nigeria's forex reserves have climbed from $4 billion to $40 billion.
  • Oil production has risen from under 1 mbpd to 1.8 mbpd.
  • GDP grew 3.13 percent in Q1 2025.
  • $14 billion in national debt has been cleared.
  • $7 billion in forex obligations have been cleared.
  • Nigeria posted a positive trade balance for the first time in decades.

Sources:

  • Amechi Chuks. Oyema, APC G3 National Coordinator, in a press release on Friday (Source: APC G3)
  • The Director-General (DG) of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala's commendation during a visit to the Presidential Villa on Thursday (Source: The Nigerian government)
  • APC G3, press release on Friday (Source: APC G3)