Rebased GDP Mere Political Stunt to Hoodwink Nigerians, Says ADC
The African Democratic Congress (ADC) has sharply criticised the Federal Government’s celebration of Nigeria’s newly rebased Gross Domestic Product (GDP), describing it as a “misleading and cynical public relations stunt” that masks the deepening economic crisis in the country.
In a strongly worded statement issued on Tuesday by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC accused the All Progressives Congress (APC)-led administration of peddling “economic cosmetics” instead of addressing the foundational issues plaguing Nigeria’s economy.
According to the opposition party, while officials in Abuja boast of improved GDP numbers, millions of Nigerians are enduring worsening food inflation, deepening poverty, and a breakdown in critical infrastructure. The ADC contended that economic growth should translate into better living conditions, not just improved statistics.
“Economic growth is not about dressed-up numbers that make the government look good,” the statement read. “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 maintained that GDP rebasing, typically a neutral statistical tool used to capture structural shifts in an economy, has been turned into a political tool by the current administration to paper over years of leadership failure and economic decline.
The party pointed out that while Nigeria’s rebased GDP in 2014 stood at $509 billion—making it Africa’s largest economy at the time—it has now plummeted to $244 billion, pushing the country down to fourth place behind South Africa, Egypt, and Algeria.
“This is not merely a technical recalibration,” the statement noted, “it is a blunt indictment of a government that has failed to grow what it inherited, let alone transform it.”
While nominal GDP in naira terms has increased to ₦373 trillion, the ADC argued that the figure is largely illusory, driven by massive currency devaluation that has eroded national wealth and the purchasing power of ordinary Nigerians.
The party added that GDP per capita has collapsed from $3,223 in 2014 to barely $1,000 in 2025, reflecting the shrinking value of incomes and rising economic hardship.
“The rebasing might make the debt-to-GDP ratio look better on paper, but it should not be used as an excuse for more reckless borrowing,” Abdullahi warned. “What Nigeria needs is fiscal discipline—something this government has consistently failed to demonstrate, as evidenced by its bloated and misdirected budgets amidst widespread suffering.”
The ADC also took aim at the federal government’s much-touted economic diversification agenda, describing it as a failure. It accused the administration of relying on “headline-driven reforms” rather than structural policies that stimulate real productivity and sustainable growth.
“Sectors that should be leading the charge—agriculture, manufacturing, infrastructure, and innovation—have either stagnated or regressed. What we are left with is a structurally weak economy unable to compete or lift people out of poverty,” the statement continued.
The party concluded by alleging that the true purpose behind the rebasing fanfare is to manipulate public perception and justify increased borrowing, despite the fact that over 90 percent of government revenue is already used to service existing debt.
“Nigerians are not fooled,” the statement asserted. “Ask any citizen whether their life has improved since President Tinubu assumed office two years ago, and the answer will be a resounding no. The government is not fixing the economy—it is merely reframing it through statistical manipulation. A rebased GDP that does not translate into real development, improved services, or better livelihoods is ultimately meaningless.”
The statement comes amid rising public discontent over persistent economic hardship, with inflation, unemployment, and insecurity continuing to dominate national discourse despite the government’s assurances of progress.
