GDP Growth Without Human Development Is ‘Worthless’, Osinbajo Warns African Leaders

Former Vice President of Nigeria, Prof. Yemi Osinbajo, has urged African governments to stop celebrating economic growth figures that do not translate into tangible improvements in the lives of citizens.

He made the call while speaking at the 65th anniversary of the Ford Foundation in West Africa, held in Abuja.

Osinbajo, who served as Nigeria’s vice president from 2015 to 2023, lamented that while African economies often boast of rising Gross Domestic Product (GDP) figures, millions of people continue to live in poverty, facing unemployment, poor healthcare, and inadequate access to education.

“Governments talk about growth, but citizens wonder what we are celebrating,” he said. “GDP growth does not automatically mean development. It does not necessarily create jobs or ensure that people can feed their families or send their children to school. Growth that leaves the majority behind is meaningless.”

The former vice president noted that during his time overseeing Nigeria’s economic management team, he encountered a persistent disconnect between reported national growth and the reality experienced by citizens. “Many times, after announcing impressive growth figures, ordinary Nigerians would say, ‘I can’t pay my rent or hospital bills—where is this growth?’ That is the true test of economic progress,” he said.

Osinbajo advocated for a shift in Africa’s development priorities—from focusing merely on macroeconomic performance to pursuing inclusive and people-centered growth.

He argued that real progress should be measured by improved living standards, access to quality education, healthcare, and opportunities for the poor and vulnerable.

“Economic planning must be rooted in social justice,” he stressed. “We must move from trickle-down economics to bottom-up strategies that empower rural dwellers, women, and young people. Development must mean something to those at the bottom of the ladder.”

He also linked corruption to social injustice, describing it as a major factor that prevents growth from benefiting citizens.

Osinbajo pointed to successful examples in countries such as Rwanda and Bangladesh, where investment in people and governance reforms have delivered measurable improvements in welfare.

The former vice president commended the Ford Foundation for its decades-long commitment to promoting equity and social development across Africa.

He said such initiatives play a critical role in bridging inequality and supporting inclusive growth.

Osinbajo’s remarks come amid ongoing debates across Africa about the real impact of economic growth.

While international financial institutions report rising GDP numbers for several African nations, the continent continues to grapple with widening inequality, youth unemployment, and rising living costs.

“True development,” Osinbajo concluded, “is not in the numbers, but in the lives those numbers are supposed to improve.”