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Felix Morka: Nigeria Would Have Been Utterly Bankrupt Without Tinubu’s Fuel Subsidy Removal

APC’s Felix Morka defends Tinubu’s fuel subsidy removal, saying Nigeria would have been utterly bankrupt without the policy.

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The national publicity secretary of the All Progressives Congress, and lawyer, Felix Morka, has defended President Bola Tinubu’s removal of the fuel subsidy, arguing that the policy has helped improve the country’s finances and prevented Nigeria from sliding into bankruptcy.

Speaking in an interview with ARISE NEWS on Tuesday, Morka said the government was previously borrowing heavily to meet basic obligations, including salaries and pensions, and maintained that the increased revenue available to states following the subsidy removal has strengthened their ability to meet their financial commitments and fund infrastructure.

“This President did what no other president before him did, which is that he summoned the courage and audacity to announce the removal of the fuel subsidy. Today, our country is better for it. The economy of our country has turned the corner. Macroeconomic conditions of this country have never been this favorable. That is without dispute.

“What we are not reckoning with is that this country was borrowing to exist, to just pay its bills—pay wage bills, pay pension bills. Just run the country. We were borrowing to do that. We are not doing that anymore at the level we were doing at the time.

“My point is that whether you look at the conditions of our state governments, their ability today to meet their obligations—whether it’s wage obligations, pension obligations, even do significant infrastructure development—it’s all because of the allowance coming from the removal of fuel subsidy. Otherwise, this country would have been utterly bankrupt. That’s stating the obvious,” he said.

Morka also criticised presidential candidates who have opposed the policy or promised to restore fuel subsidies, describing such positions as disingenuous and self-serving. He noted that several leading political figures, including former Vice President Atiku Abubakar, had previously acknowledged that the subsidy regime was unsustainable and plagued by corruption, arguing that its removal was necessary to address the country’s worsening economic situation.

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“This is all very disingenuous of these political commentators—just self-serving. Whether it’s Omoyele or, for that matter, the former Vice President who speaks about his plans to return Nigeria to that fuel subsidy system if he got elected president.

“The former Vice President, Sowore, and all of those who are today actively campaigning to be president—I think we are all unanimous. Maybe I don’t know about Sowore, but certainly Atiku Abubakar had a very strong position that fuel subsidy had to go; that it was unsustainable. And that it was already festering with all kinds of flaws, corruption, and all of that. The country could not afford to continue with that regime. That was universal consensus around that subject.”

On concerns over Nigeria’s debt service burden, Morka rejected claims that the country is already bankrupt, attributing the rise in naira-denominated debt figures largely to the devaluation of the currency, insisting that the country is undergoing a necessary market correction rather than an economic collapse.

“We’re not bankrupt. We’re not even borrowing to par with what the ceiling or the threshold level is. We’re not near the threshold. People are not reckoning with what has happened with the devaluation of currency—the whole resetting of our foreign exchange on a basis. Because if you were trading at 460 naira to a dollar and today you’re trading at 1,300-plus to a dollar, your naira metrics will be high. So let’s not confuse our people with this false narrative about how everything is going crazy. Look at the dollar-to-dollar obligation. Today, we’re doing real market correction. So don’t just inflame it as though something untoward is going on in the economy. There is nothing like that,” he insisted.

Rejecting claims that the Tinubu administration is anti-poor, Morka argued that dismantling a system of dependence built over generations could not be achieved without hardship, insisting there was “no romantic way” to remove the fuel subsidy.

“When you deal with or tackle a problem that was allowed to fester over generations of leaders, there’s no romantic way to deal with it. There’s no romantic way to remove the fuel subsidy. When you want to dismantle a system of dependence built over generations, there’s no romantic way to do it,” he maintained.

Defending the government against allegations of excessive spending, the APC national publicity secretary pointed to improved foreign reserves, stronger balance-of-payments figures and increased government support for tertiary students as evidence of improved macroeconomic conditions.

He, however, acknowledged that Nigerians are facing severe hardship but argued that poverty was not created by the Tinubu administration, insisting that sustainable improvements in living standards require the government to first fix the country’s macroeconomic fundamentals.

“This government has taken our foreign reserves from what—$3-4 billion to now about $50 billion? Nigeria’s output factors today are doing far better than what we were putting in to produce that outcome. Today, we are about one of the best on the continent when it comes to exporting more than we’re importing.

“Like I said, today students are going to school—many of them in tertiary institutions—who otherwise were indigent and couldn’t pay their fees. Today they go to school because the government is supporting that effort. My point is that our macroeconomic conditions today are vastly improved.

“Poverty has always been excruciating in this country. Let’s not speak about this as though poverty dropped yesterday from the sky. We have lived with poverty in this country. But this government is fixing poverty at its foundation. Unless you fix macroeconomics, you don’t stand a chance to fix microeconomic conditions,” he said.

Dismissing claims that Nigeria is facing a revenue crisis, Morka said the country’s economic situation must be assessed holistically rather than through isolated debt indicators. He maintained that the Tinubu administration’s reforms, despite the sacrifices involved, have prevented ordinary Nigerians from being worse off, arguing that rebuilding and restructuring the economy necessarily require some level of hardship.

“We can’t continue to be selective in our display or discussion of data. We can’t. You must look at the economy as a whole. You must look at all of the aspects of the Nigerian economy that are relevant to today’s discussion. This idea that the reform of this government has yet to affect ordinary people—I’ve told you that but for the reforms themselves, the ordinary people you speak about—our people, that we all are concerned about—would be in a far worse situation than we are. Renovating and rebuilding anything requires some sacrifice,” he stressed.

Addressing the rising poverty figures, Morka argued that the statistics must be viewed against the structural weaknesses the Tinubu administration inherited. He said the reforms have caused short-term pain but are necessary to correct longstanding economic distortions, attract investment, create jobs and ultimately improve Nigerians’ ability to afford basic needs.

“Again, I tell you that a lot of the numbers you speak about do not take into account the fundamental flaws in the economy that this President is seeking to fix. It’s a causal process; one thing leads to the other. When you had an economy that was not working, fixing it required you to tamper with some fundamental aspects of that economy. And when you did that, people in the short term had to feel that negative pressure, and our people have felt that pressure.

“I think that’s why even critics like Oby Ezekwesili recently have come out to say, ‘You know what? You must give the President his flowers. The economy is beginning to turn around.’

“When your economy is in tatters, you are not creditworthy. Your foreign exchange reserve is somewhere in the middle of $2 billion to $3 billion. No countries are going to extend credit to you. No serious foreign investors are going to come to you. But today, those conditions are resetting. Investors are coming in, creating new jobs. It is by those kinds of improvements that individuals are able to earn better and create more wealth for themselves to be able to afford basic needs and overcome the impact of inflation,” he said.

Turning to the controversy surrounding the APC presidential campaign council list, Morka said he was unaware of any recall, amendment or additions, noting that no such announcement had been made by the party.

However, he explained that campaign council lists are not necessarily final, adding that the party could revise or update the list as part of its usual procedure.

“No, I am not—even as the National Spokesperson of the APC—I’m not aware that the list of our presidential campaign council was recalled. I mean, I’ve seen snippets of news and speculation about that. But I’m quite sure that if the list was recalled, the same way the list was announced would be the way that recall would be announced. But that’s not the case. I’m not aware that any changes have been made to that list. No such announcement has been made by the party.

“When we put out these lists, they’re not immutable. They’re not cast in stone. Sometimes we make changes, publish even revised or updated lists of campaign councils. So if that happens, that won’t be a surprise. That’s a typical procedure for the party,” he explained.

Turning to criticism of the APC presidential campaign council, Morka dismissed opposition parties’ objections to its composition, describing the APC as Nigeria’s largest political party. He added the party was not obligated to justify its choice of members to smaller opposition parties, arguing that the council comprises eminent Nigerians whom the APC believes can make significant contributions to its 2027 election campaign.

“The people who are saying this, mostly from the ADC. But we, the All Progressives Congress—we’re the largest party in this country, without question. We have put out the list of our presidential campaign council. These smaller parties—the ADC, the NDC—have not done that. What are they doing? They’re busy cherry-picking our lists and making commentary.

“We are not answerable to them in the composition of our presidential campaign council staffed by eminent Nigerians who, in the judgment of the party, have enormous contributions to make to help our campaign for the 2027 general elections. We are not obligated to respond to ADC because they themselves are more bitter about their own list. As small as they may be, they have not managed to bring themselves to the point where they have composed or compiled their list,” he remarked.

Addressing concerns over the integrity of some campaign council members facing corruption allegations, Morka argued that being under investigation does not amount to a conviction.

He cautioned against labelling individuals as guilty without a court judgment, stressing that allegations or suspicions of wrongdoing should not be treated as proof of criminal conduct.

“Since when, under the constitution, under the law, does—even if there was anyone on that list who was suspected of corruption or crimes—since when did suspicion of the commission of a crime, whether economic crime or other crimes, become a conviction for the commission of that crime?

“Don’t taint individuals with guilt when you don’t have any basis for that. Being under investigation does not mean you have been found guilty. And I’m not speaking for any particular individual. Assuming that were the case of any individual on our list, I’m saying to you that that is utterly just wrong to label people with guilt when, in fact, they have not been found guilty by any court of law,” he stressed.

On whether Aviation Minister, Festus Keyamo was on the APC presidential campaign council list or not, Morka declined to give a yes-or-no answer, describing Keyamo as a respected APC member who had played significant roles in the campaign and would continue to contribute beyond the council.

“Why would there be a yes or no answer? I can’t give you that answer. The Honorable Minister of Aviation is a highly respected, eminent citizen and member of our political party who has played enormous roles and will continue to play enormous roles in this campaign and beyond this campaign. That is the answer to your question, not a yes or no,” he said.

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