Economic Growth Meaningless If Citizens Are Getting Poorer — Peter Obi Slams Tinubu

Former Anambra State Governor and Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, has criticised President Bola Tinubu’s administration, arguing that economic growth is meaningless if citizens continue to experience poverty and declining living standards.

Obi said improvements in government revenue, foreign reserves and gross domestic product (GDP) should not be treated as evidence of economic development unless they translate into better living conditions for Nigerians.

In a statement published on his official X account, Obi argued that the success of economic reforms should be measured by their impact on poverty, employment opportunities and inequality.

He said economic stability should enable citizens to afford food, access healthcare, educate their children and live with dignity.

According to him, many Nigerians continue to face financial difficulties despite reported improvements in some economic indicators.

Obi also questioned the Federal Government’s spending priorities, citing figures from a recent World Bank report. He claimed that the government spent about ₦7.7 trillion on debt-interest payments in the first half of 2026, compared with revenue of approximately ₦6.2 trillion during the same period.

He further claimed that capital expenditure declined by about ₦700 billion in the first half of the year, raising concerns about investment in infrastructure and other public projects.

The NDC candidate attributed the challenges to what he described as excessive borrowing, corruption and poor economic management. These assessments represent his criticism of the administration’s policies.

Obi urged the Federal Government to focus on policies that produce measurable improvements in household welfare rather than relying on favourable economic statistics to demonstrate progress.

His comments followed renewed debate over Nigeria’s economic outlook after the World Bank reported improved growth prospects for the country.

The World Bank projected Nigeria’s economy would grow by 4.3 per cent in 2026, according to its October 2026 Africa Economic Update. However, growth projections measure economic output and do not, by themselves, establish whether household incomes or living standards are improving.

Obi maintained that the ultimate test of economic policy should be whether Nigerians experience less poverty, greater access to essential services and improved opportunities for employment.

The Federal Government’s economic reforms, including the removal of petrol subsidies and changes to the foreign exchange system, have been defended by the administration as measures intended to improve public finances and strengthen the economy. Critics, however, continue to question the impact of those policies on household welfare.