Budget Office, Ben Akabueze, GDP Growth, Nigeria GDP Growth
Buhari presents 2019 Appropriation Bill (image courtesy TheCable)

The Federal government has said that Nigerians are not feeling the impact of the positive economic growth on their lives as the Gross Domestic Product (GDP) growth must be higher than the population growth.

This explanation came from the Director-General, Budget Office of the Federation, Ben Akabueze, on Wednesday in Abuja.

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Akabueze said this during a presentation at a roundtable on the 2019 budget organized by the by the Abuja Chamber of Commerce and Industry.

“We are projecting a 3.01 percent growth (in GDP). Often times, I hear Nigerians asking whether we can meet this growth,” he said.

“This is the minimum level of growth we should be aiming, going by the rate which our population was growing.

“If we are growing at anything below the rate the population is growing, it will not be felt and that is why a lot of people do not feel the economy is growing.

“It is not surprising that you don’t feel it, because last quarter, the economy grew by 1.8 percent and the population was growing significantly higher than that.

“So until we restore growth to seven percent or preferably double-digit, the vast majority of Nigerians are not going to feel any growth.

“So that’s the debate we should be having.”