The African Democratic Congress (ADC) has launched a scathing criticism against the Tinubu administration’s recent celebration of Nigeria’s rebased Gross Domestic Product (GDP), labeling the move a deceptive public relations gimmick that ignores the country’s deepening economic hardship.
In a statement released Tuesday by its National Publicity Secretary, Mallam Bolaji Abdullahi, the opposition party described the government’s fanfare surrounding the rebased GDP as nothing more than “economic cosmetics”—a superficial display that fails to address the worsening conditions faced by ordinary Nigerians.
“While government officials are busy touting a new GDP figure, millions of Nigerians are battling record food inflation, grinding poverty, and collapsing infrastructure,” the ADC said. “Economic growth is not about dressed-up numbers that make the government look good. Economic growth means nothing if it leaves the majority of the people behind and is not felt on the dining table or in the marketplace.”
The ADC accused the Tinubu administration of weaponizing what should have been a neutral statistical tool, turning the rebasing exercise into a mirror that reflects years of economic mismanagement under the All-Progressives Congress (APC).
A Lost Decade of Decline
Highlighting Nigeria’s economic slide, the statement pointed out that the country’s GDP, which stood at $509 billion in 2014 after the previous rebasing, has now plummeted to $244 billion a fall that has pushed Nigeria from being Africa’s largest economy to fourth place, now trailing South Africa, Egypt, and Algeria.
“This is not merely a technical recalibration it is a blunt indictment of a government that has failed to grow what it inherited, let alone transform it,” the ADC declared.
While nominal GDP in naira terms has risen to ₦373 trillion, the party argues this figure is deceptive, driven by the effects of steep and poorly managed currency devaluation. “GDP per capita has crashed from $3,223 in 2014 to barely $1,000 today,” the statement noted.
Illusion of Progress
The party warned that the administration is attempting to use the rebasing to manipulate Nigeria’s debt-to-GDP ratio, potentially justifying more borrowing under the guise of improved fiscal space.
“What Nigeria needs is fiscal discipline something this government has consistently failed to demonstrate, as seen in its bloated, ill-prioritised budgets and wasteful spending amidst widespread suffering,” the ADC said.
The statement criticized the Tinubu government’s inability to stimulate real economic growth through key sectors like agriculture, manufacturing, infrastructure, and innovation. Instead, the administration has relied on “shallow, headline-driven reforms,” which the party says have led to a structurally weak economy.
“There is no real increase in industrial output. No boost in agricultural productivity. No rise in real income. No improvement in electricity, healthcare, or security. Just bloated, hollow numbers. This can only be described in one word: deception,” the statement read.
“Statistical Seduction”
The ADC accused the government of substituting meaningful economic reform with statistical manipulation and urged Nigerians not to be misled by shiny figures. “Ask any citizen whether their life has improved since President Tinubu assumed office, and the answer will be a resounding no,” the party emphasized.
The statement further warned that the rebasing could be a strategic cover for more borrowing, despite the alarming fact that over 90% of Nigeria’s revenue goes toward debt servicing.
“Foreign direct investment is not flowing in. Investor confidence remains low. Public hospitals are still empty, and schools remain underfunded. State governments are still dependent on federal allocations, and many cannot even pay salaries,” the ADC pointed out. “What then is the value of a rebased GDP that does not impact lives?”
A Call for Real Change
In a biting conclusion, the ADC mocked the administration’s focus on optics, saying:
“If this is the Tinubu administration’s solution to everything, then it should also try to rebase its way out of the insecurity it promised to end. Rebase the national grid into 24-hour electricity. Rebase the hospitals back to life. Rebase the country away from hunger. And while at it, rebase the suffering of the millions of families it has plunged into poverty.”
The party criticized the government’s rushed announcement of the rebased GDP without engaging stakeholders or addressing its implications. “Rebasing GDP is not economic reform, it is simply a new way of counting the same broken economy,” the ADC declared.
“We have rebased the economy, yes. But this government has not rebased its thinking,” the statement concluded. “Until it does, all the GDP recalibrations in the world will remain what they are: statistical seduction with no meaning for ordinary Nigerians.”
The ADC reaffirmed that genuine economic growth must be inclusive and tangible. “It must be felt, not announced. And it must be built, not borrowed,” the party said, describing the rebasing as “a verdict on a lost decade of squandered potential, hollow leadership, and broken economic promises.”
