Life is ‘Improving’ in Nigeria, but Millions Still Struggle Amid Soaring Costs Tinubu’s Claims Under Scrutiny
As President Bola Tinubu marks the midpoint of his term, he insists that Nigeria is on a path to economic recovery and stability. However, for many Nigerians grappling with soaring prices and unemployment, the reality remains harsh and unforgiving.
Addressing the nation, Tinubu declared, “Today, I proudly affirm that our economic reforms are working. We are on course to building a greater, more economically stable nation.” Yet, this optimistic narrative sharply contrasts with the daily experiences of millions who continue to bear the brunt of economic hardship.
Since taking office in May 2023, one of Tinubu’s most controversial moves was the removal of the decades-old fuel subsidy. This policy shift triggered a sharp increase in fuel prices, which cascaded into higher transportation costs, pushing up prices of basic goods, especially food staples like rice. Many Nigerians found themselves unable to afford three square meals a day, as the cost of living skyrocketed.
Official inflation figures tell only part of the story. Although inflation has reportedly eased from a high of 34% last year to 24% last month, prices remain significantly higher than before, meaning Nigerians are still paying more for essentials just at a slower rate of increase. The decline in inflation does not translate to relief for the average family struggling to keep up with rising tariffs, utility hikes, and food prices.
The People’s Democratic Party (PDP), Nigeria’s main opposition, dismissed Tinubu’s claims as hollow, labeling his two years in office a “massive disappointment” for ordinary citizens.
Unemployment remains a grave concern. Many young graduates continue to face bleak job prospects, with little evidence of meaningful government intervention to reverse the trend. The World Bank projects Nigeria’s GDP growth at 4% this year, up from 3% when Tinubu assumed office, but these figures hardly reflect the day-to-day economic struggles across the country.
Tinubu defended the subsidy removal, calling it a “chokehold on our nation’s neck,” blaming it for enabling corruption and draining public resources. Yet critics argue that the government failed to put in place adequate social safety nets to cushion vulnerable Nigerians from the fallout.
Public affairs analyst Professor Adeosun Olufemi points fingers at the governors of Nigeria’s 36 states, noting that increased allocations to them have not translated into improved living conditions. “After the president announced fuel subsidy removal, money allocated to state governors increased heavily but what have they done with it?” he asks.
While Tinubu promised a “Renewed Hope Agenda” focusing on security, governance reforms, and poverty reduction, many Nigerians remain skeptical. For now, the scars of rising tariffs, fuel hikes, and joblessness overshadow the rhetoric of progress.
As political tensions build ahead of the 2027 elections, with speculation about coalitions forming to challenge the president, Nigerians continue to hope for tangible improvements in their daily lives beyond statistics and speeches.
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