2027: Nigerians poorer today than 3 years ago – Adebayo slams Tinubu

The presidential candidate of the Social Democratic Party (SDP) for the 2027 general elections, Adewole Adebayo, has dismissed claims of economic progress under President Bola Ahmed Tinubu, insisting that the administration’s much-publicised macroeconomic achievements have failed to improve the lives of ordinary Nigerians.

Speaking during a television interview marking the third anniversary of the Tinubu administration, Adebayo argued that the true measure of economic performance should be the living conditions of citizens rather than official statistics and government projections.

According to him, while government officials may point to positive economic indicators, the majority of Nigerians continue to grapple with rising living costs, shrinking purchasing power, unemployment and deepening poverty.

Adebayo maintained that the impact of economic policies is best reflected in the prices people pay for essential goods and services. He noted that the costs of food, housing, transportation, healthcare and education have continued to rise, making life increasingly difficult for many households.

“No one’s life is better off except those who are in government. When all economic policies crystallise, they are reflected in what people pay for food, rent, transportation, healthcare and education. In all these objective indicators, no one’s life is better off than before,” he said.

The SDP leader also faulted efforts by government officials to present favourable economic figures as proof of success, arguing that citizens would naturally feel the benefits of a thriving economy without the need for extensive explanations from those in power.

Adebayo further questioned why the ruling All Progressives Congress (APC), which has been in power since 2015, continues to blame current economic difficulties on inherited challenges. He argued that the conditions Tinubu met in 2023 were largely the result of eight years of APC governance.

The Ondo-born businessman also accused the administration of creating what he described as an “illusion of progress” through currency devaluation and increased borrowing, insisting that such measures have not translated into meaningful improvements in the welfare of Nigerians.