{"id":11408,"date":"2026-05-26T09:26:28","date_gmt":"2026-05-26T09:26:28","guid":{"rendered":"https:\/\/beadysword.com.ng\/blog\/?p=11408"},"modified":"2026-05-26T09:27:01","modified_gmt":"2026-05-26T09:27:01","slug":"hardship-everywhere-nigerians-say-economic-growth-exists-only-on-paper","status":"publish","type":"post","link":"https:\/\/beadysword.com.ng\/blog\/2026\/05\/26\/hardship-everywhere-nigerians-say-economic-growth-exists-only-on-paper\/","title":{"rendered":"Hardship Everywhere! Nigerians Say Economic Growth Exists Only on Paper"},"content":{"rendered":"
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Fuel N1,400, Gas N1,500 \u2014 Nigerians Reject Government\u2019s \u2018Economic Growth\u2019 Celebration, \u201cBeautiful Statistics, Painful Reality\u201d \u2014 Nigerians Slam 2026 GDP Report.<\/p>\n

Despite fresh claims by the National Bureau of Statistics (NBS) that Nigeria\u2019s economy grew by 3.89 percent in the first quarter of 2026, many Nigerians say the reality on the streets tells a completely different story as hunger, inflation, and hardship continue to worsen across the country.<\/p>\n

The latest NBS report, released on Monday, showed an increase from the 3.13 percent GDP growth recorded in the same period last year. According to the figures, the service sector contributed 57.73 percent to the economy, agriculture accounted for 23.16 percent, while industries made up 19.11 percent.<\/p>\n

The report also stated that Nigeria\u2019s nominal GDP stood at N110.79 trillion, while real GDP was estimated at N51.36 trillion. The non-oil sector contributed 96.08 percent, leaving the oil sector with only 3.92 percent.<\/p>\n

However, many economists and Nigerians have dismissed the figures as \u201cbeautiful statistics\u201d that fail to reflect the harsh economic reality facing ordinary citizens in 2026.<\/p>\n

According to a report by Beadysword Blog, the rising cost of living has continued to place unbearable pressure on millions of households nationwide. Prices of essential commodities and services have skyrocketed, with cooking gas selling above N1,500 per kilogram, petrol averaging around N1,400 per litre, and diesel climbing close to N2,000 per litre.<\/p>\n

Economic experts say these rising costs have erased whatever benefits the reported GDP growth may suggest.<\/p>\n

Former President and Chairman of the Council of the Chartered Institute of Bankers of Nigeria (CIBN), Mazi Okechukwu Unegbu, said the economic growth being celebrated by the government has not improved the lives of ordinary Nigerians.<\/p>\n

According to him, citizens are becoming poorer despite repeated announcements of GDP growth.<\/p>\n

He explained that economists are now considering ways to recalibrate Nigeria\u2019s GDP measurement system so that it reflects the real experiences of people struggling daily to survive.<\/p>\n

Unegbu stressed that market realities should matter more than statistical growth figures, especially at a time when food prices, transportation, rent, fuel, and energy costs continue to rise sharply.<\/p>\n

He noted that Nigerians are now worse off than before, despite what official economic reports claim.<\/p>\n

\u201cThe economy may be growing on paper, but the average Nigerian cannot feel it in daily life,\u201d he said.<\/p>\n

He added that GDP reports should reflect the condition of market women, artisans, traders, students, mechanics, and other everyday citizens whose purchasing power has continued to collapse.<\/p>\n

Also reacting to the report, President of the Bank Customers\u2019 Association of Nigeria, Dr. Uju Ogunbunka, said the statistics released by the NBS do not match the realities faced by Nigerians.<\/p>\n

According to him, millions of citizens are battling worsening inflation, rising food prices, and economic hardship despite repeated government assurances of economic recovery.<\/p>\n

\u201cBeautiful statistics do not match reality,\u201d Ogunbunka stated, noting that many Nigerians can no longer afford necessities in 2026.<\/p>\n

Across the country, frustration continues to grow as salaries remain stagnant while the prices of transportation, electricity, food items, school fees, and healthcare keep increasing.<\/p>\n

For many Nigerians, the latest GDP report is another reminder of the widening gap between government economic data and the painful reality faced by citizens trying to survive one of the toughest economic periods in recent years.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Fuel N1,400, Gas N1,500 \u2014 Nigerians Reject Government\u2019s \u2018Economic Growth\u2019 Celebration, \u201cBeautiful Statistics, Painful Reality\u201d \u2014 Nigerians Slam 2026 GDP Report. Despite fresh claims by the National Bureau of Statistics (NBS) that Nigeria\u2019s economy...<\/p>\n","protected":false},"author":2,"featured_media":11409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-11408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/11408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=11408"}],"version-history":[{"count":1,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/11408\/revisions"}],"predecessor-version":[{"id":11410,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/posts\/11408\/revisions\/11410"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/media\/11409"}],"wp:attachment":[{"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=11408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=11408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beadysword.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=11408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}