By Kingston Magare 1.6.2026
Social Democratic Party (SDP) presidential candidate in the 2027 elections, Prince Adewole Adebayo has urged President Bola Tinubu to stop being dishonest about the economic situation in the country.
Adebayo argued that despite figures been bandied by government officials and reassurances of economic recovery Nigerians remain worse off with living conditions and purchasing power abysmal.
“No one’s life is better off except those who are in government,” Adebayo said during a TV interview.
“When all economic policies crystallise, they are reflected in what people pay for food, rent, transportation, healthcare and education. In all of these objective indicators, no one’s life is better off than before.”
He noted that the government attempts at painting a good economic outlook remains futile if such economic gains do not rub off on the lives of the citizens.
“The economy belongs to all of us. If it is working, everybody will know it is working. Farmers, industrialists, traders, workers and consumers will feel it,” he said.
According to him, increases in government revenue and foreign reserves, often cited by officials, do not reflect genuine economic growth but are largely the consequences of naira depreciation and debt accumulation.
“What they suffer from is what economists call the illusion of money. The devaluation of the naira creates the appearance that more money is coming in, but the reality is that the money has lost purchasing power.
“They have engaged in heavy borrowing since coming into office, and a significant portion of the reserves being celebrated is already spoken for.
“The president and the country are better served by an honest assessment of the economy than by defensive arguments that do not reflect what Nigerians are experiencing,” he submitted.