ADC SLAMS TINUBU ADMINISTRATION’S CELEBRATION OF REBASED GDP AS ‘ECONOMIC COSMETICS’

The African Democratic Congress (ADC) has strongly criticized the Tinubu administration over what it described as a “misleading and cynical celebration” of Nigeria’s recently rebased Gross Domestic Product (GDP), warning that the figures mask the deeper economic rot plaguing the nation.

In a blistering statement issued on Wednesday by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC dismissed the government’s fanfare surrounding the rebased GDP as “economic cosmetics,” arguing that the revised figures do nothing to address the daily realities of hunger, unemployment, and collapsing infrastructure confronting millions of Nigerians.

“Economic growth is not about dressed-up numbers that make the government look good,” Abdullahi said. “Economic growth means nothing if it is not felt on the dining table, in the markets, or in the lives of the ordinary Nigerian.”

From Africa’s Largest to Fourth: A Decade of Decline

The ADC’s statement highlighted a worrying trend in Nigeria’s economic trajectory, noting that the country has dropped from Africa’s largest economy in 2014—when its GDP stood at $509 billion—to fourth place in 2025, now trailing behind South Africa, Egypt, and Algeria with a GDP of $244 billion.

“Ordinarily, GDP rebasing is a neutral statistical exercise,” the party said. “But in the hands of this government, it has become a mirror—one that reflects the failures of leadership and the collapse of what should have been a thriving economy.”

The ADC emphasized that this is not just a statistical downgrade but an indictment of the ruling All Progressives Congress (APC), which, according to the party, has not only failed to build on the economic foundation it inherited but has presided over its steady erosion.

Illusory Numbers, Real Poverty: Naira Devaluation and Declining Wealth

According to the opposition party, while the rebased GDP now shows ₦373 trillion in nominal terms, the figure is “largely illusory,” driven more by the effects of a steep and poorly managed currency devaluation than by genuine economic expansion.

“GDP per capita has plummeted from $3,223 in 2014 to less than $1,000 today,” Abdullahi revealed. “The rebasing might make debt-to-GDP ratios look more favorable on paper, but it’s a dangerous illusion. It does not mean the country can afford to borrow more—it means citizens can afford less.”

The party accused the Tinubu government of lacking fiscal discipline, pointing to what it called “bloated and misaligned budgets,” wasteful spending, and an addiction to foreign borrowing that continues to mortgage the country’s future.

Diversification Failure and Superficial Reforms

The ADC also used the opportunity to lambast the APC’s much-touted economic diversification agenda, asserting that key sectors such as agriculture, manufacturing, and innovation have either stagnated or deteriorated under the current administration.

“This rebasing exercise exposes the emptiness of the government’s diversification narrative,” the statement read. “Rather than driving real productivity or industrial expansion, this administration has chosen to focus on shallow, headline-driven reforms that offer no meaningful change to the average Nigerian.”

According to the ADC, the result is a “structurally weak economy that cannot compete globally nor lift millions out of poverty.”

Statistical Cosmetics Cannot Feed the People’

In its final remarks, the ADC accused the Tinubu administration of deliberately attempting to distract the public from economic hardship through statistical manipulation. “There is no real increase in industrial output. No boost in agriculture. No rise in wages. No improvement in electricity or healthcare. Just bloated, hollow numbers.”

The party insisted that Nigerians are not deceived by the government’s public relations campaigns, noting that the lived experience of citizens paints a grim picture that no statistical rebasing can erase.

“The truth is this government is not fixing the economy—it is reframing it,” the ADC stated. “You can’t rebase hunger. You can’t eat GDP. And Nigerians know it.”

As the nation grapples with skyrocketing food prices, power shortages, and widespread insecurity, the ADC has called on citizens to demand accountability beyond “theatrics of economic celebration,” urging the Tinubu-led government to focus on substance over spin.