Economic Reality Check: ADC Accuses FG of Deception Over GDP Claims, Cries 'Nigerians Worse Off'

Published 3 hours ago4 minute read
Pelumi Ilesanmi
Pelumi Ilesanmi
Economic Reality Check: ADC Accuses FG of Deception Over GDP Claims, Cries 'Nigerians Worse Off'

The African Democratic Congress (ADC) has criticised the Federal Government’s celebration of Nigeria’s Gross Domestic Product (GDP) growth, arguing that the reported economic progress has not translated into meaningful improvements in the lives of ordinary citizens.

In a statement issued by its National Publicity Secretary, Mallam Bolaji Abdullahi, the party said the government’s focus on macroeconomic indicators fails to reflect the harsh realities faced by millions of Nigerians grappling with rising living costs, unemployment, and declining purchasing power.

The ADC maintained that economic growth should be measured by its impact on citizens, not just statistical performance, stressing that many Nigerians continue to struggle despite official claims of progress.

“People do not eat GDP,” the party stated, noting that economic growth is only meaningful when it results in lower food prices, job creation, stronger purchasing power, and improved living conditions.

According to the party, the current economic narrative being promoted by the government does not align with the experiences of Nigerians across markets, businesses, and households.

Source: Punch

“The African Democratic Congress (ADC) rejects the Federal Government’s attempt to use headline GDP figures to whitewash the deep economic suffering Nigerians are currently enduring across the country,” the statement read.

The party added that worsening economic conditions, including high inflation and increasing business costs, have continued to place significant strain on families and small enterprises.

“Growth that only exists in official reports while citizens descend deeper into hardship is not meaningful progress,” it said.

Highlighting the disconnect between official data and everyday realities, the ADC pointed to soaring food and transportation costs, as well as the closure of small businesses struggling under economic pressure.

“The reality of the Nigerian economy is not what is written in government presentations. The reality is what Nigerians confront every day in markets, on farms, in factories, in shops, and in their homes,” the statement added.

It further described the economic situation as worsening for many households, stating, “Food prices are unbearable. Transportation costs have become punitive.

Small businesses are shutting down daily under the crushing weight of inflation, energy costs, and weak consumer demand.

Salaries have lost value. Families who once lived modestly are now struggling to survive.”

The ADC argued that economic growth without tangible benefits for citizens remains ineffective, emphasising that policy outcomes must reflect improvements in living standards.

“Economic growth that does not reduce suffering, create jobs, improve incomes, or restore dignity to citizens is empty growth,” the party said.

The party also called on the government to prioritise policies that directly improve livelihoods rather than focusing on what it described as public relations around economic figures.

Source: Business Day

“The purpose of governance is not to manage public relations for economic statistics. The purpose of governance is to improve the living conditions of the people,” it stated.

Questioning the basis for celebrating economic gains, the ADC listed several challenges confronting Nigerians, including rising poverty, unemployment, and business closures.

“What exactly should Nigerians celebrate? The fact that food inflation continues to devastate households? That millions of young Nigerians remain unemployed or underemployed?

Whatsapp promotion

That businesses are collapsing faster than new ones are emerging? That more citizens are slipping into poverty despite working harder than ever?”

The party urged the government to adopt a more people-centred approach to economic management, stressing the need for policies that deliver measurable improvements in citizens’ quality of life.

“A government that is serious about economic recovery would show humility, acknowledge the pain Nigerians are experiencing, and focus on delivering measurable improvements in living conditions instead of celebrating figures that have no meaning to hungry citizens,” the statement added.

The ADC concluded that the effectiveness of economic policies should be judged by their impact on everyday Nigerians, noting that many citizens are yet to feel any real benefit from the reported growth.

“The ADC believes that the true test of economic policy is simple: Can Nigerians live better today than they did yesterday?”

“For millions of Nigerians, the answer is no.”

Recommended Articles

Loading...

You may also like...