Strong GDP, Reserves Don’t Put Food On Table — APC Chairman

The National Chairman of the All Progressives Congress (APC), Professor Nentawe Yilwatda, has acknowledged that improvements in Nigeria’s macroeconomic indicators have yet to fully translate into better living conditions for ordinary Nigerians.

Yilwatda, who represented President Bola Tinubu at a policy roundtable organised by the APC Professional Forum in Abuja on Tuesday, said strong Gross Domestic Product (GDP) growth and rising external reserves would mean little if Nigerians continued to struggle to afford basic necessities.

The APC chairman said the government’s next priority should be to convert the gains recorded in macroeconomic stability into tangible improvements in the lives of Nigerians.

“A good GDP number does not automatically put food on a family’s table. Stronger reserves do not pay school fees. A stronger stock market does not automatically put money into the pocket of a market woman,” he said.

He said the next phase of the administration’s Renewed Hope Agenda must deliver “more food, more jobs, lower inflation, affordable credit, reliable power, more manufacturing, greater exports and stronger purchasing power.”

Yilwatda’s comments came against the backdrop of growing concerns over the cost of living, despite improvements in some key economic indicators, including external reserves, GDP and relative stability in the foreign exchange market.

He said the government must now focus on ensuring that economic reforms translate into increased productivity, employment and improved household welfare.

“As we approach 2027, Nigerians will hear many promises. Some will promise to reverse the reforms; others will promise prosperity without confronting the structural problems that brought us here,” he said.

The APC chairman urged Nigerians to choose between consolidating the gains of the administration’s reforms and returning to what he described as years of fiscal pressures.

“For the All Progressives Congress, the answer is clear. We choose progress, productivity, investment, infrastructure, innovation, Nigerian enterprise, exports, human capital, and we choose President Bola Ahmed Tinubu,” Yilwatda said.

He also reiterated the administration’s ambition of building a $1tn Nigerian economy by 2030, saying the country must power its industries, strengthen its digital economy, educate its young population and mobilise private capital to expand productive capacity.

Yilwatda said Nigeria should no longer be viewed merely as a large domestic market but as a potential maritime, industrial, digital and logistics powerhouse for Africa.

“The foundation has been laid. The opportunity is before us. The work has begun. Now we must take Nigeria from reform to results, from results to growth, from growth to prosperity, and from prosperity to a $1tn economy by 2030,” he said.

He also highlighted government-backed social investment initiatives, including the Nigerian Education Loan Fund (NELFUND) and the Consumer Credit Corporation (CREDICORP), describing them as investments in the productive capacity of young Nigerians.

According to him, NELFUND is expanding access to higher education and supporting technical and vocational education, while digital skills programmes are preparing young Nigerians for opportunities in the global economy.

He said CREDICORP was also expanding access to responsible credit to enable workers, entrepreneurs and businesses to acquire productive assets, expand their enterprises and create jobs.

“This is not simply social investment; it is an investment in the productive capacity of Nigeria and in the young Nigerians who will ultimately build and drive our $1tn economy,” Yilwatda said.