The National Bureau of Statistics (NBS) report showing 3.46% GDP growth and a 4.6% unemployment rate has been met with scepticism by the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA).
NACCIMA President Dele Kelvin Oye described the figures as disconnected from Nigerians’ economic realities.
“The data doesn’t account for rising taxes, inflation, and regulatory hurdles that stifle businesses and foreign investment,” Oye stated.
He called for reforms to reduce borrowing costs, improve collaboration with the private sector, and address unemployment, which remains underreported due to pervasive underemployment.
“The statistics paint an overly optimistic picture. True economic progress must translate into improved living standards and opportunities for the masses,” Oye concluded.
