- APC’s Felix Morka attributes Nigeria’s economic challenges to historical dependence on a single commodity, advocating for diversification
- Morka emphasizes the need for multiple income streams to reduce vulnerability to economic fluctuations and global market dynamics
Felix Morka, the Publicity Secretary of the APC, has come forward to assert that the economic challenges being addressed by the Tinubu administration are deeply rooted in generational issues.
Morka made these remarks while addressing the widespread hardship experienced by Nigerians due to certain economic policies implemented by President Biola Ahmed Tinubu, during an interview on Channels TV’s Politics Today.
He highlighted that a significant aspect of Nigeria’s current economic predicament stems from its historical reliance on a singular commodity since gaining independence.
“The data indicates an impending economic resurgence under the Tinubu administration,” Morka expressed.
“A considerable portion of the challenges confronting us today, including those encountered during the tenures of former Presidents Muhammadu Buhari and Goodluck Jonathan, as well as previous administrations, were inherited from past generations,” he explained.
“Since independence, our economy has been predominantly centered around a single revenue source. Neither Buhari nor Jonathan individually initiated this system. These issues have been entrenched over generations.”
Morka emphasized the need for diversification and the creation of multiple streams of income to alleviate the burden on Nigerian citizens.
“How can we justify a nation of over 200 million people relying solely on one commodity, vulnerable to both domestic economic fluctuations and global market dynamics?” he questioned.
“During Jonathan’s administration, there was a period of relative economic stability, with oil production reaching two million barrels per day. However, under Buhari’s leadership, various challenges led to a decline in our production capacity. The current administration has been diligently addressing these systemic issues. There’s no instant solution,” Morka concluded.