Political analyst and former presidential candidate Dr. Gbenga Hashim has expressed concern over Nigeria’s economic decline, stating that the nation’s GDP has fallen from $574 billion to $259 billion over the past decade under the All Progressives Congress (APC).
In a Trust TV interview, Hashim attributed the sharp contraction to policy inconsistency, mismanagement, and structural weaknesses in governance. He described the drop as unprecedented in Nigeria’s post-independence history, noting that it represents the loss of more than half of the country’s economic output over ten years.
Hashim emphasized that while global events such as the pandemic and recession have impacted the economy, domestic mismanagement has magnified these shocks. He highlighted widespread social consequences, including rising unemployment, inflation, and reduced public investment in key sectors like agriculture, manufacturing, and energy.
According to him, inconsistent economic policies and regulatory paralysis have undermined investor confidence, leading to capital flight and slowing growth. He warned that sustained economic decline threatens national stability, public confidence, and Nigeria’s global standing.
Hashim called for urgent reforms, including stronger fiscal management, transparency, and strategic interventions such as economic diversification and industrialization. “Reversing this decline will require bold governance and sustainable growth policies to restore confidence and ensure inclusive development,” he said.
Further insights and expert analysis on Nigeria’s economic trajectory are available on Newshost Buzz.
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