The African Democratic Congress has slammed President Bola Tinubu’s economic policies, saying the reported rise in Nigeria’s poverty rate to 63 percent following the removal of petrol subsidy is the true measure of his administration’s performance.
In a statement issued on Friday, March 13, and signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the party said the figures lay bare the devastating impact of rising fuel and transport costs on the daily lives of millions of Nigerians.
The ADC argued that the new data only confirms what earlier surveys and the lived experiences of ordinary citizens have already made clear, that the country is heading in the wrong direction under the current government.
“The African Democratic Congress (ADC) considers latest report showing that Nigeria’s poverty rate has risen to 63% following the removal of petrol subsidy by President Tinubu three years ago as a damning verdict on the administration’s economic policies.
“Yet, this report only confirms what millions of Nigerians already know from their daily experience: the cost of living is rising rapidly, purchasing power is collapsing, and families across the country are being pushed deeper into hardship.”
The party pointed to a policy dialogue held in Abuja on Thursday where the report was presented, showing that poverty had jumped sharply from around 50 percent before the subsidy was scrapped to 63 percent afterward, as higher fuel and transportation costs rippled through the economy and drove up prices of food and other essentials.
“This verdict reflects the real consequences of the APC government’s hasty removal of fuel subsidy without giving full consideration to how such a serious decision would impact on the livelihoods of ordinary citizens.”
The ADC also challenged the government’s repeated justification for removing the subsidy, saying the promised reinvestment in critical sectors has not materialised.
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“Government has repeatedly justified the removal of subsidy on the need to divert resources to areas of critical needs, including health and education.
“Three years on, none of these sectors has been funded any better, and citizens have not seen the benefits of subsidy removal.”
The party cited independent surveys to paint a grim picture of public sentiment, noting that the overwhelming majority of Nigerians have lost confidence in the current administration.
“Independent surveys already show that 93 percent of Nigerians believe that under President Tinubu, the country is heading in the wrong direction, even as 88 percent describe the national economy as bad, while another 74 percent say their personal living conditions are poor. These are not abstract statistics, they are the voices of a population under intense economic pressure.”
The ADC further highlighted what it described as widespread deprivation affecting households across the country.
“There is also mounting evidence of widespread deprivation. A large majority of Nigerians report going without basic necessities such as food, clean water, medical care, cooking fuel, and even cash income at different times during the past year.
“For millions of households, economic hardship is no longer a temporary difficulty, it has become daily reality. This is what happens when government is more concerned with external validation than the well-being of its own people.”
The party concluded by stating that the ultimate test of any economic policy is whether it improves the lives of ordinary citizens and protects the most vulnerable, adding that on this measure, the APC government has fallen short.