ADC Rubbishes Tinubu’s Economic Policies As Poverty Rate Hits 63%

The African Democratic Congress (ADC) has criticised the economic policies of President Bola Tinubu, describing the reported rise in Nigeria’s poverty rate to 63 per cent following the removal of petrol subsidy as a “damning verdict” on the administration.

The party said the development reflects the worsening economic hardship faced by millions of Nigerians, particularly as rising fuel and transportation costs continue to drive up the cost of living.

In a statement issued on Friday, March 13, by its National Publicity Secretary, Bolaji Abdullahi, the party argued that the new figures represent the real scorecard of the current administration and the consequences of what it described as ill-defined neoliberal economic policies.

The ADC said the reported increase in poverty from about 50 per cent before the removal of fuel subsidy to 63 per cent afterwards underscores the severe impact of the policy on ordinary Nigerians.

“The African Democratic Congress considers the 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,” the party said.

“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.”

Rising Fuel Costs Worsen Hardship

According to the statement, the report was presented at a policy dialogue held in Abuja on Thursday and indicated that poverty rose sharply after the subsidy removal, as higher fuel and transportation costs spread across the economy.

The ADC noted that the increase in these costs has triggered higher prices for food, transportation, and other basic necessities.

“The report… indicated that poverty in Nigeria rose sharply from about 50 per cent before the subsidy removal to 63 per cent afterwards, as higher fuel and transport costs spread through the economy and drove up the prices of food, transportation, and other basic necessities,” the party stated.

It further argued that the development reflects what it described as the consequences of the ruling All Progressives Congress government’s decision to remove the subsidy without adequately considering its impact on citizens.

“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 the livelihoods of ordinary citizens,” the party added.

Naija News reports that the ADC also questioned the Federal Government’s justification for removing the subsidy, which it said was premised on the need to channel resources to key sectors such as health and education.

According to the party, three years after the policy was introduced, Nigerians have yet to see any significant improvement in those sectors.

“The government has repeatedly justified the removal of subsidies 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 statement said.

The party also cited independent surveys, which it said reflect widespread public dissatisfaction with the current economic situation in the country.

“Independent surveys already show that 93 per cent of Nigerians believe that under President Tinubu, the country is heading in the wrong direction, even as 88 per cent describe the national economy as bad, while another 74 per cent say their personal living conditions are poor,” the statement added.

“These are not abstract statistics; they are the voices of a population under intense economic pressure.”

‘Hardship Now Daily Reality’

The ADC said there was mounting evidence of widespread deprivation across the country, with many households struggling to meet basic needs.

“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,” the party stated.

“For millions of households, economic hardship is no longer a temporary difficulty; it has become a daily reality. This is what happens when government is more concerned with external validation than the well-being of its own people.”

The party maintained that the ultimate test of any economic policy should be whether it improves the living conditions of the majority of citizens while protecting the most vulnerable.

According to the ADC, by that measure, the current administration has fallen short.