Major challenge with Nigeria’s 4.43% GDP growth – Economist, Oyedokun

Nigeria's 4.43% GDP growth in the second quarter of 2026 represents significant progress, but it falls short of translating into improved living standards for the average Nigerian, according to Professor Godwin Oyedokun, an accounting expert at Lead City University. Oyedokun spoke to the DAILY POST about the Nigerian economy gaining momentum, with the services and agricultural sectors driving the expansion.

However, he pointed out that the growth has yet to bring tangible benefits to households, such as higher real incomes, better employment opportunities, and the ability to afford essential goods and services. Oyedokun emphasized that an economy's growth should not be equated with improved living standards. He explained that even if an economy expands, households may continue to face struggles if the growth lacks sufficient productivity, job creation, and income enhancement.

For instance, growth in agriculture does not automatically lead to lower food prices, and expansion in the services sector might not generate enough well-paying jobs. The professor called on the federal government to prioritize translating economic growth into higher productivity, stronger manufacturing, quality employment, rising real wages, and lower costs in the next phase of its economic reforms.

He stressed that while a 4.43% GDP growth is a positive development, it is not yet a sign of prosperity for Nigerians. Oyedokun argued that the true measure of President Bola Tinubu's economic reforms will be whether the growth ultimately results in increased disposable income for Nigerians and a noticeable improvement in their quality of life.