Former Vice President Osinbajo Says GDP Growth Without Human Welfare Is Empty Celebration Of Poverty

 

Former Vice President of Nigeria, Professor Yemi Osinbajo, has called on African governments to stop celebrating what he described as “worthless GDP growth figures” that fail to reflect the daily realities of their citizens. He made the call during the 65th anniversary of the Ford Foundation in West Africa, held in Abuja, where he delivered a powerful critique of the continent’s approach to development planning and measurement.

Osinbajo observed that although many African countries have consistently reported impressive GDP growth over the years, the figures have not translated into tangible improvements in the quality of life for ordinary people. He pointed out that the continent remains plagued by poor welfare indicators, inadequate healthcare, widening education gaps, and widespread unemployment, despite its celebrated macroeconomic numbers.

During his address, the former vice president drew from his experience in public office to explain the deep disconnect between macroeconomic performance and the actual well-being of citizens. He revealed that one of his biggest frustrations while serving as Vice President and chairing Nigeria’s economic team between 2016 and 2019 was how meaningless GDP discussions sounded to the average Nigerian.

According to him, whenever the government announced economic growth, many citizens could not relate to it because their personal living standards remained stagnant or worsened. “Africa is the fastest growing continent in GDP terms and has been so for a while, yet it remains the continent with the lowest overall quality of life, based on global indices like health, education, infrastructure and economic stability,” he noted. He added that GDP growth does not automatically mean development for the majority, nor does it necessarily create jobs or improve living conditions.

He recalled numerous conversations during his tenure when citizens expressed disbelief and anger over government announcements about growth. Many, he said, would question where such growth was happening since they struggled to pay school fees, hospital bills, and even meet daily needs. “It became clear that when governments talk about growth, citizens wonder what we are talking about. Only big businesses, like banks, understand those figures,” Osinbajo remarked.

The former vice president stressed that genuine progress must be rooted in social justice and fairness, ensuring that every citizen has equal access to opportunities, resources, and protection. He urged policymakers to move away from traditional trickle-down approaches, which assume that economic benefits at the top will reach the poor, and instead embrace bottom-up strategies that prioritize rural communities, women, young people, and informal workers who form the backbone of African economies.

Highlighting successful case studies, Osinbajo referenced Bangladesh’s investment in girls’ education, Rwanda’s gender inclusion initiatives, and the judicial reforms in Lagos State in 1999, which he helped implement. He explained that elevating women judges and addressing corruption in the judiciary during that period significantly boosted public trust and institutional efficiency. He emphasized that such inclusive governance examples demonstrate how equitable development enhances national productivity.

Corruption, he warned, continues to stand as one of the greatest obstacles to Africa’s advancement, describing it as a severe form of social injustice that robs citizens of public services and weakens state institutions. He called for stronger transparency mechanisms and ethical leadership across the continent to ensure that development resources are used for the common good rather than personal enrichment.

Senator Abubakar Bagudu, Minister of Budget and National Planning, who was also present at the event, lauded the Ford Foundation for its long-standing commitment to social and economic development in West Africa. He described the anniversary as a timely moment for deeper collaboration between governments and development partners to promote inclusive growth.

Dr. ChiChi Aniagolu, Regional Director of the Ford Foundation in West Africa, reminded the audience that the foundation began operations in Lagos in 1960. She highlighted that the organisation has supported numerous initiatives across Nigeria, Ghana, Senegal and beyond, focusing on education, women’s empowerment, human rights, cultural development, economic inclusion and environmental justice. Aniagolu reaffirmed the foundation’s commitment to strengthening local ownership of development projects and avoiding one-size-fits-all solutions.

Also speaking at the event, Martín Abregu, Senior Vice President of the Ford Foundation, emphasized that although the organisation originated in the United States over eight decades ago, its mission has evolved into a global pursuit of social justice and equality. He praised young African leaders who are reshaping the ideas of democracy, fairness and accountability across the region.

The anniversary event ended with a shared call for African policymakers to redefine what progress truly means. The gathering underscored a growing consensus among thought leaders that GDP numbers alone are no longer a credible measure of success unless they translate into real improvements in the lives of citizens. As Osinbajo put it, development is not about the size of a nation’s economy, but the dignity and well-being of its people.