Presidential candidate of the African Action Congress, Omoyele Sowore, has urged the Federal Government to stop using increased revenue and other macroeconomic indicators as evidence of economic progress, arguing that such figures have not translated into better living conditions for Nigerians.
Sowore made the remarks during an interview on Arise Television, where he said the success of the government’s economic reforms should instead be measured by their impact on citizens’ living standards, businesses, employment, education, security and wages.
He argued that Nigerians should not be made to believe that the economy is improving simply because government revenue, tax collection or the tax-to-GDP ratio has increased.
According to him, “what matters to citizens is whether they can afford basic necessities and whether the reforms are creating jobs, supporting businesses and improving public services.
“They are bringing out numbers as if we are foolish people. They want to do a mental adjustment on the psyche of the people. They say you are feeling better because our GDP-to-tax ratio is higher.
“We are talking about GDP to tax, but what about GDP to standard of living? Nobody is talking about that. That’s why I said it is a repetition of the same old explanation of their economic failures,” he said.
Sowore said the government should demonstrate the practical impact of its reforms by highlighting new industries, employment opportunities, schools, roads and other infrastructure projects that have improved the lives of Nigerians.
“What we are asking them to produce are the wealthier people in society, the schools that have been built, the roads that you have constructed after you remove subsidy, and how your people are faring, how your businesses are faring,” he said.
The AAC candidate maintained that despite claims of increased government revenue, Nigerians continued to face rising costs of living and declining purchasing power, while several businesses were struggling to remain operational.
He said: “Businesses are pretty much gone. You have closed down industries. Your people are poor. We are not just talking about poor people. We are talking about people who are multidimensionally poor.”
Sowore also criticised the removal of the fuel subsidy, saying the policy had increased the economic pressure on ordinary Nigerians.
He argued that subsidies were not inherently bad economic policies, noting that governments across the world use various forms of subsidies to protect vulnerable citizens and support strategic sectors.
“There is no country in the world that doesn’t subsidise their poor. In fact, the people that get the most subsidy in Nigeria are not the poor. It’s the rich,” he said.
He further alleged that wealthy individuals and businesses had benefited from government waivers and other incentives, while ordinary Nigerians bore the immediate consequences of the fuel subsidy removal.
“All the people who bring in foreign goods and services, go and look at their waivers, their customs. You know who is getting a real subsidy compared to the people who are getting from each gallon of petrol that was taken away from them,” he said.
Sowore also linked the removal of the subsidy and other government economic policies to the depreciation of the naira and worsening living conditions.
“The moment you remove the subsidy, look at where your economy tanked. Your naira also went down the toilet,” he said.
He called for a fundamental shift in Nigeria’s approach to economic management, saying government policies should create opportunities for the wider population rather than concentrate wealth and benefits among a privileged few.
Sowore also urged the government to prioritise policies that would make the minimum wage more meaningful, strengthen businesses and improve access to education, healthcare, security and other essential services.
He maintained that economic reforms should ultimately produce tangible improvements in the daily lives of ordinary Nigerians.
“Optics don’t feed people. Propaganda can’t feed people. People are dying in this country of hunger and starvation. People can’t afford to live,” he said.
The AAC presidential candidate argued that the government could not claim economic success while millions of Nigerians continued to struggle to afford basic necessities.
He said: “We must stop deceiving ourselves. We need fresh ideas and fresh people who can make this country work.”
Sowore also called for greater accountability in the implementation of economic reforms, insisting that the government must show how increased revenue is being converted into tangible improvements for citizens.