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The African Democratic Congress  (ADC) has strongly criticised the economic policies of President Bola Tinubu, saying the reported rise in Nigeria’s poverty rate to 63 percent following the removal of petrol subsidy is a “damning verdict” on the administration.

In a press statement signed by its National Publicity Secretary, Bolaji Abdullahi , the opposition party said the latest report only confirms the harsh realities millions of Nigerians face daily as the cost of living continues to soar across the country.

According to the statement, the report presented at a policy dialogue in Abuja on Thursday showed that Nigeria’s poverty level surged from about 50 percent before the subsidy removal to 63 percent afterward, as higher fuel and transportation costs spread through the economy and pushed up the prices of food and other essential goods.

The ADC blamed the development on what it described as the “hasty removal” of fuel subsidy by the ruling All Progressives Congress (APC) government without adequate consideration for the impact on ordinary Nigerians.

“The latest figures only confirm what millions of Nigerians already know from their daily experience: purchasing power is collapsing, the cost of living is rising rapidly, and families across the country are being pushed deeper into hardship,” the party said.

The opposition party also faulted the federal government’s justification that funds saved from the subsidy removal would be redirected to critical sectors such as health and education.

According to the ADC, three years after the policy was implemented, citizens have not seen tangible improvements in those sectors.

“Government has repeatedly justified the removal of subsidy on the need to divert resources to areas of critical needs, including health and education. Three years on, none of these sectors has been funded any better, and citizens have not seen the benefits of subsidy removal,” the statement added.

The party cited independent surveys indicating growing public dissatisfaction with the country’s economic direction, noting that 93 percent of Nigerians believe the country is heading in the wrong direction, while 88 percent described the national economy as bad.

It further stated that about 74 percent of respondents rated their personal living conditions as poor, describing the figures as clear evidence of widespread economic distress.

The ADC also warned that deprivation was becoming increasingly widespread, with many Nigerians reporting that they had gone without basic necessities such as food, clean water, medical care, cooking fuel and even cash income at various times within the past year.

“For millions of households, economic hardship is no longer a temporary difficulty; it has become a daily reality,” the party said, adding that such conditions arise when governments prioritise external validation over the well-being of citizens.

The party maintained that the true test of any economic policy lies in whether it improves the lives of the majority and protects the most vulnerable in society.

“On this score,” the statement concluded, “the APC government has failed.”