Experts to Tinubu: Address Hunger, Insecurity, and Inflation Before 2027
Economists Urge Urgent Action to Ease Living Costs and Drive Inclusive Growth
As President Bola Ahmed Tinubu marked the second anniversary of his administration, a cross-section of economists, financial analysts, industrialists, and public policy experts have urged the Federal Government to urgently address rising inflation, hunger, insecurity, and declining living standards.
Despite widespread acknowledgement of major policy reforms—such as the removal of fuel and foreign exchange subsidiesanalysts argue that the positive impact has not translated to real improvements in the lives of ordinary Nigerians.
“The policies are ambitious, but Nigerians are still hungry. Insecurity is worsening. Electricity is unreliable. People are frustrated,” said Dr. Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE).
Reforms in Place, But People in Pain
The Nigeria Economic Summit Group (NESG), represented by its Chairman, Mr. Niyi Yusuf, praised the reform agenda but emphasized the need for a more inclusive and people-centered approach in the years ahead.
He called for expanded social welfare, job creation, and increased investments in healthcare, education, food production, and electricity access.
“The removal of fuel and forex subsidies and ongoing infrastructure works are necessary but must be matched with real improvements in the lives of poor Nigerians,” Yusuf said.
The NESG urged the government to channel subsidy savings into public services that directly impact citizens.
Insecurity and Inflation: A Dangerous Pair
A recurring concern raised by all experts was the growing insecurity, which continues to disrupt agricultural activities and worsen food inflation.
“We cannot talk about food security if farmers cannot access their land due to insecurity,” said Mr. David Adonri, Managing Director of Highcap Securities.
He noted that high inflation driven by both monetary and structural issues is compounding the cost-of-living crisis for millions of Nigerians.
Mr. Olatunde Amolegbe, Managing Director of Arthur Steven Asset Management, stressed the need to stabilize inflation through both fiscal discipline and targeted structural reforms.
Call for Policy Coordination
Experts warned of a disconnect between monetary and fiscal authorities and called for stronger coordination in policy design and implementation.
“The Central Bank and the Finance Ministry must be on the same page. Without synergy, inflation and interest rates will remain high, and investor confidence will suffer,” Amolegbe said.
Dr. Yusuf added that tax, trade, and monetary policies must all be aligned to support price stability and economic growth.
Power Sector and Industrial Revival
Segun Ajayi-Kadir, Director General of the Manufacturers Association of Nigeria (MAN), highlighted the critical role of energy supply in revitalising local industries.
He called for the speedy completion of the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project, which is expected to contribute 3.6 gigawatts to the national grid upon completion in 2025.
“A comprehensive industrial policy must guide our development. Power supply is a top priority if we are to achieve industrial growth,” he said.
Tapping the Capital Market
Dr. Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), urged the government to engage the capital market more effectively to fund infrastructure projects and stimulate economic activity.
“The domestic capital market has depth and potential. Project-linked bond issuance and capital mobilisation can fast-track development,” Umar said.
The Road Ahead: Less Politics, More Action
With the next general election still two years away, experts cautioned against early politicking and advised the Tinubu administration to stay focused on its economic recovery agenda.
“We must resist political distractions and prioritise the real issues affecting Nigerians food prices, healthcare, jobs, and security,” Yusuf added.
The consensus is clear: while the administration has made important strides in economic reform, results must now be felt by the people. Experts agree that urgent action is needed to avert a reversal of current gains and restore hope to a weary population.
Summary of Key Recommendations:
Improve physical security to boost food production and investment
Expand social safety nets and consumer relief measures
Stabilise the forex market and reduce interest rates
Strengthen policy coordination between fiscal and monetary authorities
Complete energy infrastructure to support industrial growth
Deepen capital market engagement to fund national projects
Focus governance on economic outcomes, not political distractions
Reference
Experts to Tinubu: Address Hunger, Insecurity, and Inflation Before 2027