BudgIT Nigeria has critiqued the Federal Government, insisting that reform gains must be felt in everyday life, not in fiscal numbers.
In a statement on Thursday, BudgIT critiqued the press release issued by the Federal Ministry of Finance on strong Q2 2026 Gross Domestic Product (GDP) growth of 4.43% and progress toward a $1 trillion economy by pointing out persistent high costs for citizens, including 20.31% food inflation in July and petrol prices rising from ₦617 per litre in July 2023 to ₦1,345.
“Nigeria’s reform dividend cannot stop at stronger fiscal numbers. It has to show up in the things Nigerians actually experience,” the statement read.
“Food inflation was still 20.31% in July. In parts of the country, petrol now sells for about ₦1,345 per litre. In July 2023, it was ₦617.”
According to BudgIT, that difference does not live on a spreadsheet because it shows up in transport fares, food prices, business costs and what is left in a household’s pocket at the end of the month.
The civic tech group highlights that state revenues grew significantly to ₦15.5 trillion in 2025 from ₦4.8 trillion in 2022, yet inflation, exchange rate depreciation, and rising debt have eroded real fiscal gains and household purchasing power.
Analysing the Federal Government’s economic reforms, it said “Our analysis of Nigeria’s economic reforms found that states received ₦15.5 trillion in revenue in 2025, compared with ₦4.8 trillion in 2022.
“But a bigger naira figure does not automatically mean greater fiscal capacity. Inflation, exchange-rate depreciation and rising debt obligations have increased the cost of running government and the cost of living for citizens.
“So the reform dividend cannot be measured only with how much money is now flowing through government accounts.”
BudgIT argued that true reform dividends must improve everyday experiences like affordable food, transport, and reduced poverty risk rather than relying solely on GDP or revenue figures.
It also stressed that “Nigerians cannot eat GDP growth” and directed readers to their Nigeria’s Economic Reforms report for detailed analysis.
“Economic progress is evident when incomes can stretch further, public services reduce the costs households carry privately, and a financial shock does not push more people into poverty,”
BudgIT said.
“If you want a clear picture of the impact of new reforms, read Nigeria’s Economic Reforms report via this link: https://budgit.org/post_publications/nigerias-economic-reforms-what-has-changed-across-nigerias-states/. We detail what it means for Nigerians.”
