Former presidential aspirant and Peoples Democratic Party (PDP) chieftain, Gbenga Hashim-Olawepo, has described Nigeria’s economic performance under the All Progressives Congress (APC)-led Federal Government as a “disaster.”
Hashim-Olawepo made the assertion on Wednesday during an appearance on Politics Today, a programme aired on Channels Television.
According to him, Nigeria’s Gross Domestic Product (GDP) has declined significantly over the past decade, falling below levels recorded nearly two decades ago.
He said Nigeria’s GDP stood at between $220 billion and $230 billion, citing figures from the International Monetary Fund (IMF) and World Bank outlooks.
Hashim-Olawepo noted that when former President Olusegun Obasanjo left office in 2007, Nigeria’s GDP was about $268 billion, a figure he said was higher than the current valuation.
He further recalled that by the time former President Goodluck Jonathan handed over power to Muhammadu Buhari in 2015, Nigeria had emerged as Africa’s largest economy, with a GDP of about $574 billion.
“Twenty years ago, under former President Olusegun Obasanjo, Nigeria’s GDP when he was finishing in 2007 was $268 billion — bigger than what we have today,” he said.
“This disaster happened under the APC. When Goodluck Jonathan handed over, Nigeria’s GDP had risen to $574 billion and we were the largest economy in Africa. Today, we are struggling between fourth and fifth positions.”
Describing the economic trajectory over the last ten years as both tragic and disastrous, Hashim-Olawepo argued that the APC government had failed to sustain growth and economic leadership on the continent.
“What has happened to Nigeria’s economy in ten years of APC government is a disaster and tragic,” he added.
