“Rebasing Hunger Does Not Solve Economic Woes”

The African Democratic Congress (ADC) has sharply criticized the Tinubu administration’s celebration of Nigeria’s recently rebased GDP, calling it a mere “economic cosmetic” exercise that fails to address the country’s underlying economic challenges.

While GDP rebasing is typically a neutral tool for reflecting changes in the economy, the ADC asserts that under the current administration, it has become a glaring reflection of the economic decay and leadership failure of the All Progressives Congress (APC). Despite the rebase, which saw Nigeria's nominal GDP in naira terms rise to ₦373 trillion, the country's overall GDP has dwindled from $509 billion in 2014 to a staggering $244 billion. Over the past decade, Nigeria has fallen from being Africa's largest economy to the fourth-largest, trailing behind South Africa, Egypt, and Algeria. According to the ADC, this dramatic shift is not simply a technical recalibration, but a damning indictment of an administration that has failed to build on its inherited economic foundation.

The ADC's National Publicity Secretary, Mallam Bolaji Abdullahi, emphasized that although the rebasing has made the debt-to-GDP ratio look marginally better, it remains “illusory.” The significant devaluation of the naira has wiped out national wealth and reduced citizens' purchasing power. The average GDP per capita has plummeted from $3,223 in 2014 to just over $1,000 today, with no meaningful improvement in key sectors that should be driving economic diversification. Abdullahi stated, “What this administration has done is mask economic failure with headline statistics, rather than addressing the systemic challenges faced by Nigerians.”

According to the ADC, the Tinubu government’s continued reliance on shallow, headline-driven reforms has done little to revitalize critical sectors such as agriculture, manufacturing, and infrastructure, all of which have either stagnated or regressed under the APC's stewardship. The party asserts that without tangible improvements in industrial output, agricultural productivity, and real income, the rebasing exercise is little more than “statistical deception” that fails to benefit the average Nigerian.

“The government is not attempting to fix the economy; it is attempting to reframe it,” Abdullahi said. "Nigerians are not fooled. No amount of statistical manipulation can hide the daily struggles of the people."

The ADC also pointed out that the rebased GDP fails to address the fundamental economic problems facing Nigeria, such as a crippling debt burden, stagnation in foreign direct investment, and persistent poverty. With over 90% of government revenue still directed toward servicing existing debt, the ADC questions the value of a rebased GDP that does not translate into tangible improvements in citizens' lives.

“Instead of taking genuine steps to address issues like insecurity, unemployment, and infrastructure deficits, this government seems content to offer cosmetic fixes,” Abdullahi noted. “If the government truly cared about improving the lives of Nigerians, it would focus on long-term solutions, not on manipulating numbers for political advantage.”

In the ADC’s view, economic growth should be felt by the people, not just reflected in abstract figures. "True economic growth must be built on sound policies that improve the lives of Nigerians," Abdullahi concluded. "This rebasing is not a triumph, it is a verdict — a verdict on a lost decade of squandered opportunities and broken promises."

The ADC is calling for genuine economic reforms, not more statistical manipulation. Until the government focuses on policies that have a real impact on the lives of ordinary Nigerians, the party asserts that any celebration of the rebased GDP remains nothing more than a distraction from the true state of the economy.

Signed:

Mallam Bolaji Abdullahi
National Publicity Secretary
African Democratic Congress (ADC)