Letter Era, Like OBJ like GSM: GDP is growing, but can Nigerians feel the growth? — Governor Makinde
Oyo State Governor Seyi Makinde has questioned whether Nigeria’s economic growth is translating into tangible improvements in the lives of ordinary Nigerians, saying citizens experience the economy through their daily realities rather than GDP figures.
Makinde raised the question in the August 2026 edition of his newsletter, The Business of Governance, while reflecting on recent economic data released by the National Bureau of Statistics and Oyo State’s mid-year performance figures.
The governor acknowledged that Nigeria’s economy is growing, with the latest NBS figures showing real GDP growth in the first quarter of 2026, driven largely by the non-oil sector.
He, however, said positive economic indicators would have little meaning if Nigerians continued to struggle with the cost of food, transportation, electricity and housing.
According to him, economic growth should translate into increased opportunities for decent livelihoods, business expansion, employment, improved infrastructure and better public services. “GDP is growing. Revenues are rising. Budgets are being implemented.
These numbers matter. But there is a more important question: are the national numbers translating into better outcomes for Nigerians?” he asked.
Makinde said his administration’s “from poverty to prosperity” approach was focused on ensuring that economic resources produced measurable improvements in the lives of residents.
He disclosed that Oyo State recorded N406.9 billion in total revenue in the first six months of 2026, representing 91.2 per cent of its target, while expenditure stood at N345.7 billion, representing 77.5 per cent of the half-year target.
He stressed, however, that the figures were not achievements in themselves, but should be judged by what the resources enabled the government to deliver.
He cited investments in infrastructure, education, healthcare and agricultural transportation as areas where public resources should have a direct impact on citizens.
The governor also disclosed that Oyo State would soon take delivery of 50 electric buses to operate on intra-city, inter-city and local government routes.
He said the initiative was aimed at reducing transportation costs for residents rather than merely increasing the government’s fleet.
Makinde urged Nigerians to look beyond headline economic figures and assess whether growth was improving their daily lives. “Can Nigerians feel the growth? For me, that remains the more important measure of economic progress,” he said.
Source: The Guardian, Headline by NewsRegister