Inflation Moderation Is Not Relief. ADC Urges Govt To Prioritize Real Economic Well Being
The Lagos chapter of the African Democratic Congress (ADC) acknowledges the recent publication by the Honourable Minister of Finance titled Nigeria Now Heading to Prosperity, wherein the minister highlights the moderation of headline inflation as a sign of economic recovery.
While the figures may suggest macro economic adjustments, the realities experienced daily by millions of Nigerians present a more complex and concerning picture.
Economic Indicators Tell a Different Story.
Although Nigeria’s headline inflation reportedly eased from over 33% earlier in the year to around 28% in the latest figures, this reduction remains largely statistical rather than impactful. More importantly.
Food inflation remains above 31%, which continues to affect households the most.
Prices of staple foods such as rice, garri, yam, and vegetables have increased by over 150% in the last 18 months.
A 50kg bag of rice, previously between ₦27,000 and ₦35,000 two years ago, now sells between ₦70,000 and ₦80,000 in many markets.
Transport costs have doubled in some states due to sustained fuel price increases.
The purchasing power of the average salary earner has dropped significantly, with the minimum wage remaining far behind inflation.
These realities demonstrate that while inflation may have moderated numerically, it has not translated into relief for ordinary citizens.
Prosperity cannot Be declared. It Must Be Felt
The ADC emphasizes that economic recovery should not be communicated solely through fiscal statistics but through indicators that directly touch the lives of Nigerians:
1. Lower food prices
2. Stable transportation costs
3. Improved wages and employment opportunities
4. Accessible healthcare and education
5. Predictable market conditions for traders and small businesses
Until these areas reflect meaningful improvement, optimism built only on moderated data may appear disconnected from the lived experiences of citizens.
The ADC calls on the Federal Government to adopt a more transparent, citizen centered approach when communicating economic progress. Nigerians deserve updates that align with realities on the ground and provide clarity, reassurance, and accountability.
The ADC is committed to constructive engagement and will continue to amplify the concerns of Nigerians while supporting policies that genuinely improve national well being. Prosperity is a national aspiration, and it must be both measurable and felt by the citizens.
Hon. Rahman Owokoniran
ADC Media Network
