Osinbajo made the remark on Wednesday in Abuja at the 65th anniversary celebration of the Ford Foundation, where he stressed that social justice must be a core part of economic planning if national development is to be meaningful and sustainable.
According to him, although Africa has witnessed steady GDP growth in recent years, the continent continues to grapple with poor living standards, especially in healthcare, education, and infrastructure.
“Africa is currently the fastest-growing continent in GDP terms, yet it remains the one with the lowest quality of life. GDP growth does not always mean development for the majority, nor does it necessarily translate to jobs or a decent living,” Osinbajo said.
The former Vice President recalled his experience while in office, saying many Nigerians questioned the relevance of growth reports that didn’t reflect in their daily realities.
“When we talked about GDP growth, people would ask, ‘Do these people live in a different country? I can’t pay my children’s school fees or hospital bills. Where is this growth?’” he said.
Osinbajo argued that true development must be measured by the number of people gaining access to quality jobs, education, healthcare, and a safe environment.
He urged African leaders to abandon the trickle-down approach in economic planning and instead adopt inclusive, bottom-up strategies that focus on improving citizens’ welfare from the grassroots level.
“Economic growth should start with the people. When policies lift the most vulnerable, the entire society becomes stronger,” he added.
