The African Democratic Congress (ADC) has said the cost of petrol in Nigeria has surged by almost 500 percent since President Bola Tinubu assumed office in May 2023.
In a statement issued on Sunday, by the National Publicity Secretary of the ADC, Bolaji Abdullahi, made the claim while responding to criticism from the ruling All Progressives Congress (APC).
The APC had accused the opposition party of attempting to incite Nigerians through its comments on the economic reforms implemented by the current administration.
Abdullahi said the party was merely drawing attention to publicly available economic data reflecting the living conditions of Nigerians.
He cited reports indicating that the country’s poverty rate has increased to 63 percent from about 50 percent prior to the removal of the petrol subsidy.
“The independent report that triggered this debate shows that Nigeria’s poverty rate has risen to 63 percent, up from about 50 percent before the removal of petrol subsidy,” he said.
The ADC alleged that the economic reforms introduced by the administration have pushed millions more Nigerians into poverty.
According to him, survey findings suggest widespread dissatisfaction with the country’s direction. He said 93 percent of respondents believe Nigeria is heading in the wrong direction.
He added that 88 percent of Nigerians rate the national economy as “bad,” while 74 percent describe their personal living conditions as “poor.”
“These are not opposition talking points. They are the views of Nigerians themselves, APC members included,” he said.
Abdullahi also disputed the ruling party’s argument that the current hardship is temporary, saying available data suggest otherwise.
He pointed to recent surveys showing that many Nigerians have had to forgo essential needs over the past year.
“Recent surveys show that 82 percent of Nigerians report going without enough food at least once in the past year,” he said.
“Eighty-two percent have gone without medical care. Seventy-nine percent have gone without cooking fuel. Seventy-four percent have gone without clean water.
“Ninety-five percent have gone without a cash income at some point during the year.”
Abdullahi said the price of petrol has increased significantly since Tinubu assumed office, rising from about N255 per litre to around N1,500 per litre in several parts of the country.
He argued that the increase has had a ripple effect on transportation costs and food prices nationwide.
The ADC spokesman also questioned the use of funds reportedly saved from the removal of the fuel subsidy, estimated at N6.4 trillion.
“Nigerians are therefore left to ask a simple question: if the subsidy savings are truly being redirected to critical sectors, where exactly is all the money going?” Abdullahi asked.
“Why are local contractors not paid? Why are the universities still poorly equipped?”
‘Food import bill rising’
Abdullahi further raised concerns about developments in the agricultural sector, citing reports that nearly 90 rice mills across the country have shut down, while many others are operating below capacity.
He also referenced data from the National Bureau of Statistics indicating a sharp rise in Nigeria’s food import bill.
According to him, the country’s food import costs increased from N3.83 trillion in 2023 to N7.65 trillion.
Abdullahi said economic policies should ultimately be judged by their impact on citizens’ welfare.
“When poverty rises from 50 percent to 63 percent, when nine out of ten Nigerians say the country is on the wrong path, and when millions struggle to afford basic necessities, it is clear that something is fundamentally wrong,” he said.
He added that Nigerians expect policies that will improve their standard of living, warning that the gap between official assurances and the daily realities faced by citizens will continue to widen if the government does not prioritise their welfare.
