Numbers don’t feed people, Sowore slams FG’s economic reform metrics

Presidential contender Omoyele Sowore has harshly criticized Nigeria's Federal Government's economic reform metrics, claiming that rising revenue and other economic indicators have not led to better living conditions for Nigerians. During an interview on Arise Television, Sowore contended that the administration's policies should be judged by their direct impact on people's standard of living, businesses, employment, education, security, and wages.

He criticized the government for focusing on increased revenue, tax collection, and the tax-to-GDP ratio as proof of economic progress, arguing that Nigerians are more concerned about their ability to afford basic necessities and whether reforms are creating jobs, supporting businesses, and enhancing public services. "They are presenting figures as if we are naive," Sowore stated.

"They're attempting a mental manipulation on the Nigerian public. They argue that improved GDP-to-tax ratios indicate better living conditions, but they neglect to discuss GDP-to-standard-of-living. This is why I stated that it's a repetition of the same old excuses for economic failures." Sowore called for tangible evidence of the reforms, such as increased wealth among the populace, newly established schools, constructed roads, and improved infrastructure.

He emphasized that while governments worldwide use subsidies to support vulnerable citizens and strategic sectors, the wealthier individuals and businesses in Nigeria seem to reap the most benefits from the subsidy removal. He argued that those companies and individuals importing goods and services receive waivers and other incentives, while ordinary Nigerians bear the brunt of the subsidy removal's immediate impacts.

Sowore urged for a radical shift in Nigeria's economic management, advocating for policies that would create opportunities for the majority instead of concentrating wealth and benefits among the privileged few. He emphasized that economic reforms should be clearly reflected in the lives and wallets of ordinary Nigerians.