The African Democratic Congress (ADC) has criticized the Tinubu-led administration for celebrating Nigeria’s rebased Gross Domestic Product (GDP), calling it misleading and empty of real impact on citizens’ lives.
In a statement by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC described the GDP fanfare as “economic cosmetics,” saying it does not reflect the harsh realities facing Nigerians.
“While officials celebrate new figures, millions are battling hunger, inflation, and poor infrastructure. GDP growth means little when people can’t afford food or basic services,” the statement read.
According to the ADC, although GDP rebasing is a standard statistical tool, the Tinubu administration has used it to cover up years of economic mismanagement. The party noted that Nigeria’s GDP has fallen from $509 billion in 2014 to $244 billion today, with the country slipping from the largest economy in Africa to fourth place—behind South Africa, Egypt, and Algeria.
The ADC further argued that the recent increase in nominal GDP to ₦373 trillion is deceptive, as it’s largely driven by currency devaluation. Per capita income has dropped from $3,223 in 2014 to about $1,000 today, leaving most Nigerians poorer than ever.
The statement accused the government of using the new GDP figures to justify further borrowing, despite over 90% of national revenue already going into debt servicing. It also faulted the administration’s lack of fiscal discipline and failure to diversify the economy.
“There’s no real boost in agriculture, manufacturing, or innovation. Instead, we have headline-driven reforms without real substance,” Abdullahi said.
The ADC concluded by stating that true economic progress should be felt in households, not just shown in figures. “You can’t rebase hunger. Nigerians don’t eat GDP,” the party stressed.