The African Democratic Congress (ADC) has condemned the Tinubu administration’s celebration of Nigeria’s recently rebased Gross Domestic Product (GDP), calling it “economic cosmetics” and an attempt to distract Nigerians from worsening economic hardship.
In a statement issued by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC accused the federal government of repackaging statistical adjustments as genuine economic progress, while citizens continue to suffer from rising poverty, inflation, and poor infrastructure.
“Ordinarily, GDP rebasing is a neutral statistical tool to reflect structural changes in the economy,” Abdullahi said. “But in the hands of this government, it has become a mirror, exposing the economic decay and leadership failure of the All Progressives Congress (APC) over the years.”
The ADC pointed out that Nigeria’s GDP, which stood at $509 billion after a similar rebasing in 2014, has dropped to $244 billion—placing the country behind South Africa, Egypt, and Algeria in Africa’s economic rankings. While the nominal GDP now stands at ₦373 trillion, the party said this is misleading, as it is largely a result of currency devaluation that has eroded national and personal wealth.
Highlighting a sharp drop in GDP per capita from $3,223 in 2014 to about $1,000, the ADC argued that the figures mean little if they don’t translate into better living conditions for ordinary Nigerians.
“Economic growth is not about dressed-up numbers that make the government look good,” Abdullahi added. “It means nothing if it leaves the majority behind and is not felt on the dining table or in the marketplace.”
The party also warned that the rebasing is being used to manipulate the country’s debt-to-GDP ratio and pave the way for more borrowing—further endangering the economy.
Calling for fiscal discipline, the ADC criticised the government for wasteful spending and abandoning its promise to diversify the economy. It cited the lack of growth in agriculture, manufacturing, infrastructure, and the poor state of basic services like power, healthcare, and education.
“There is no real increase in industrial output, no rise in real income, and no improvements in electricity, health care, or education,” the statement noted. “Just bloated, hollow numbers. This can only be described with one word: deception.”
The party dismissed the fanfare around the rebasing as propaganda, warning that the administration was more focused on reshaping perceptions than implementing policies that work.
“The Tinubu administration is not trying to fix the economy—it is trying to reframe it,” the ADC said. “But Nigerians are not fooled. Ask any citizen whether their life has improved since President Tinubu took office, and the answer will be a resounding no.”
The party urged the government to shift from statistical showmanship to real economic reforms. “True economic growth must lift the people. It must be felt, not announced. And it must be built, not borrowed,” the statement concluded.
