The Peoples Redemption Party (PRP) presidential candidate, Donald Duke, has lamented that Nigeria is becoming poorer.
He said Nigerians were better off in 1999 than they are now, despite 26 years of constitutional democracy.
Naija News reports that Duke shared his reservations during an interview on the Policy Without Politics (PWP) podcast.
The former Cross River State governor stated Nigeria had failed to achieve meaningful economic growth despite its growing population and increased budgetary allocations over the years.
“We’re really not in a democracy. It’s a facade. And with each cycle, we get poorer,” he said.
“I can say to you very clearly that in 1999, the people were better off than they are today, in 2026. They were much better off. The country was more affordable.”
The PRP presidential candidate said Nigeria’s annual budget during the administration of the late former President Shehu Shagari in the early 1980s averaged about $25 billion, when the country’s population was roughly 70 million.
He added that the country’s budget remains around the same value despite its population having grown significantly.
“Today, our population is anywhere between 200 and 250 million. We don’t know. But our budget is still hovering around $25 billion.
“We call it trillions because of the devaluation and all that. At that time, the naira was ₦1 to $1. Today, it’s around ₦1,400 to a dollar. So, we have not grown,” he said.
He said the country’s security challenges, including Boko Haram insurgency, banditry and kidnapping, were largely driven by economic hardship.
“Boko Haram, they are not religious fanatics. They’re just economic banditry. Then you have the bandits and the kidnappers,” Duke said.
According to him, the primary responsibility of the government is to create an environment where citizens can be productive.
“The essence of having a government in place is to ensure the optimal productivity of citizens within a safe and orderly environment,” he said.
Duke also faulted the use of foreign reserves as a major measure of economic progress, saying employment and citizens’ productivity should be given greater consideration.
“Let’s stop measuring the progress of our economy by the amount of dollars or foreign currency we have in our reserves because that only means that you want to import more things all the time,” he said.
Follow Us On Google
Join the conversation
Comments
Want to discuss? Please read our Commenting Policy first.