![\"\"](\"https:\/\/roadto2027.com\/wp-content\/uploads\/2025\/10\/Nigerians-crowd-population-1024x576.jpg\")
<\/figure>\n\n\n\n<\/p>\n\n\n\n
Peterside said it was not enough to record GDP growth when millions remain trapped in poverty.<\/p>\n\n\n\n
\u201cThe purpose of all this was to improve the livelihoods of 220 million Nigerians. It\u2019s not enough to just achieve GDP growth when the very rich get richer and the poor get poorer,\u201d he said.<\/p>\n\n\n\n
Bread, the one thing no household can do without, now costs far more than it did at the start of the year.<\/p>\n\n\n\n
He dismissed claims that government spending was responsible for inflation, noting that both state and local governments have seen increased allocations but are failing to use them effectively.<\/p>\n\n\n\n
\u201cThere\u2019s no inflation created by spending money that you have. Inflation comes when you\u2019re printing money without resources.<\/p>\n\n\n\n
\u201cState governments have more money. LGAs have more money. But instead of improving lives, the money is being captured by the elites. Each time the president travels, about 400 people take vehicles from all over the place, burning fuel to accompany him,\u201d he lamented.<\/p>\n\n\n\n
The investment banker said the government had abandoned the Oronsaye Report, which recommended streamlining agencies and cutting waste.<\/p>\n\n\n\n
\u201cIn 2012, when we discussed removing fuel subsidy, there was also talk about implementing the Oronsaye report and reducing waste,\u201d he recalled. \u201cHere, the government pays lip service to the report and disappears. They go and spend the money lavishly.\u201d<\/p>\n\n\n\n
He urged leaders to eliminate wasteful spending and channel funds into productive sectors.<\/p>\n\n\n\n
\u201cThe gains will only come if you eliminate waste, use money judiciously, and improve infrastructure, both physical and social,\u201d Peterside said.<\/p>\n\n\n\n
<\/p>\n\n\n\n
Credit: Channels News<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Nigerian entrepreneur and investment banker, Atedo Peterside, has criticised the Federal Government for failing to translate rising revenues into better living conditions for citizens. The economist, in an interview on Channels Television\u2019s Politics Today, said the government should focus on policies that attract investors and build public confidence in the economy. \u201cThe government is supposed […]<\/p>\n","protected":false},"author":3,"featured_media":3067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[19,4,15,20,8,5,22,9,2,18,17],"tags":[],"class_list":["post-3066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-diaspora-activities","category-federal-govt","category-home","category-international","category-legislature","category-local-govt","category-political-parties","category-public-opinion","category-state-govt","category-women-in-politics","category-youths"],"aioseo_notices":[],"uagb_featured_image_src":{"full":["https:\/\/roadto2027.com\/wp-content\/uploads\/2025\/10\/Mr.-Peterside-e1606913746479.jpg",1955,1529,false],"thumbnail":["https:\/\/roadto2027.com\/wp-content\/uploads\/2025\/10\/Mr.-Peterside-e1606913746479-150x150.jpg",150,150,true],"medium":["https:\/\/roadto2027.com\/wp-content\/uploads\/2025\/10\/Mr.-Peterside-e1606913746479-300x235.jpg",300,235,true],"medium_large":["https:\/\/roadto2027.com\/wp-content\/uploads\/2025\/10\/Mr.-Peterside-e1606913746479-768x601.jpg",640,501,true],"large":["https:\/\/roadto2027.com\/wp-content\/uploads\/2025\/10\/Mr.-Peterside-e1606913746479-1024x801.jpg",640,501,true],"1536x1536":["https:\/\/roadto2027.com\/wp-content\/uploads\/2025\/10\/Mr.-Peterside-e1606913746479-1536x1201.jpg",1536,1201,true],"2048x2048":["https:\/\/roadto2027.com\/wp-content\/uploads\/2025\/10\/Mr.-Peterside-e1606913746479.jpg",1955,1529,false]},"uagb_author_info":{"display_name":"Adam","author_link":"https:\/\/roadto2027.com\/?author=3"},"uagb_comment_info":0,"uagb_excerpt":"Nigerian entrepreneur and investment banker, Atedo Peterside, has criticised the Federal Government for failing to translate rising revenues into better living conditions for citizens. The economist, in an interview on Channels Television\u2019s Politics Today, said the government should focus on policies that attract investors and build public confidence in the economy. \u201cThe government is supposed…","_links":{"self":[{"href":"https:\/\/roadto2027.com\/index.php?rest_route=\/wp\/v2\/posts\/3066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roadto2027.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roadto2027.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roadto2027.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/roadto2027.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3066"}],"version-history":[{"count":1,"href":"https:\/\/roadto2027.com\/index.php?rest_route=\/wp\/v2\/posts\/3066\/revisions"}],"predecessor-version":[{"id":3069,"href":"https:\/\/roadto2027.com\/index.php?rest_route=\/wp\/v2\/posts\/3066\/revisions\/3069"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roadto2027.com\/index.php?rest_route=\/wp\/v2\/media\/3067"}],"wp:attachment":[{"href":"https:\/\/roadto2027.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roadto2027.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roadto2027.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}