Educating ADC’s “Economic Illiterates” On GDP Rebasing, By Reno Omokri
Before the GDP rebasing came out, the ADC and the losers in that contraption accused President Tinubu of reducing Nigeria’s GDP. Now that the rebasing has been completed, and shows that Nigeria’s economy has exploded in value, the same ADC released a statement saying, ‘Na GDP we go chop?’
This shows the economic literacy of the tired and retired politicians in the ADC. Now, let me educate the ADC.
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The GDP of a country is eatable and consumable because it also includes agricultural products, plus fruit, and vegetables. 25% of our GDP comes from the agricultural sector, and when the nominal GDP goes up, there is more to eat for Nigerians.
In their low intellect and low energy statement, the ADC complained that Nigeria’s Per Capita Income is lower today than it was in 2014.
That may be true; however, Nigerians may want to be reminded that President Bola Tinubu only took office on May 29, 2023. It only makes sense to compare Per Capita Income to what it was before President Tinubu and what it is today. And on that score, President Tinubu has a very high scorecard. He surpassed what he met.
On the issue of a drop in Per Capita Income from 2014, the ADC may want to visit Al-Jannah Firdaus (heaven) to continue their fight with General Buhari. Their struggle is not with President Tinubu.
The ADC says that Nigeria has not improved under President Tinubu. Yet, the All Share Index of the Nigerian Stock Exchange moved from 55,769.28 points on May 29, 2023, to 131,000 today, an almost threefold multiplication in value and our highest ever. Tinubu did this!
This is even as Nigeria’s debt has reduced from the $113.4 billion inherited by President Tinubu from General Buhari to $97 billion today.
In the history of Nigeria’s Fourth Republic, only two administrations have reduced Nigeria’s indebtedness: The Obasanjo regime and the Tinubu administration.
Meanwhile, when chieftains of the APC, like Peter Obi, were Governors, they left massive debt and increased poverty in Obi’s case. The poverty rate in Anambra was 41.4% in 2003, before Obi took office, and rose to 53.7% by 2009, during his governorship, a 29.7% increase.
Whether you take the Corruption Perception Index or the Global Terror Index, President Bola Tinubu has vastly improved upon what he saw on the ground on May 29, 2023.
Therefore, my counsel to the ADC is to eat their bread of sorrow, which will only grow worse tomorrow as they prepare to extend their losing streak beyond 2027.
