Experts on Inside Sources Tear Into GDP Growth Claims, Blame Leadership for Deepening Poverty

Political scientists, economists and development experts have criticized Nigeria’s leadership for allowing GDP growth figures to mask deep and growing poverty among ordinary citizens. They spoke on Inside Sources with Laolu Akande on Channels Television Friday, Laolu Akande, the host, opened the discussion saying: “You know, so often we have GDP figures going up that […]

Political scientists, economists and development experts have criticized Nigeria’s leadership for allowing GDP growth figures to mask deep and growing poverty among ordinary citizens.

They spoke on Inside Sources with Laolu Akande on Channels Television Friday,

Laolu Akande, the host, opened the discussion saying: “You know, so often we have GDP figures going up that doesn’t affect, you know, the real people. And in my view, the president’s speech on Wednesday was almost silent. He didn’t recognise the fact that majority of Nigerians are poor. And if you look at the policy, in my view, that is meant to be a stopgap, we haven’t seen, you know, sufficient resources, or even we’ve not seen what I call a demonstration of an effective planning regarding social safety net. Except, of course, if you will talk of what a governor like Governor Makinde did in LauTech a few days ago, you know, where he increased the salary of, you know, maybe about a number of security people, and people were excited.”

Professor Mojubaolu Okome of New York University expressed even sharper disdain, declaring it “heartbreaking that there seems to be an embrace of a system where there is clear … understanding that you have majority of Nigerians poor.” She stressed:

“The figures of 133 million multidimensionally poor is not from any external agency. It is from the National Bureau of Statistics. So there’s nobody in government that can actually give the excuse that they don’t know that majority of our citizens are poor.”

Professor Okome went on to highlight how visible poverty is in Nigeria’s cities, how hypocrisy around leadership lifestyles undercuts credibility, and how repeated failures in governance – weak legislative oversight, political interference, and filling key posts with unqualified people – have undermined poverty alleviation programs.

Dr. Taofiq Raimi, a development expert on the show, added that these economic gains – often cited in GDP reports – have failed to translate into improved living standards because of misguided priorities:

“If you build infrastructure that does not reach the people — poor people — or focus on projects that only benefit elites, you can have high GDP growth while the majority suffer. Growth is not enough; what matters is inclusive growth.”

He criticised the lack of scale in social protection schemes, and the failure to properly fund or plan them. He said that without strong institutions, accountable leadership, and genuine investment in areas like healthcare, education, and rural development, Nigeria risks sliding further into inequality even as the macro numbers look positive.

While Nigeria may be seeing positive shifts in economic indicators, experts on Inside Sources contend that these are superficial without real improvements in peoples’ lives. They call on leadership to move beyond rhetoric to demonstrate decisive, people-centered action. Until poverty is addressed for the many rather than growth celebrated for the few, much of the country’s progress remains illusory.