Nigeria In Its State: Economic Reforms, Political Realities, Insecurities and the Search for Hope

By AZAKA, Akpevwe Josephine 

Without any arguments, Nigeria is a great nation of immense potential, also refers to the giant of Africa. Blessed with abundant natural resources, a youthful population, the country should be a beacon of prosperity on the continent. Yet, for millions of ordinary Nigerians, daily life has become increasingly difficult. The widening gap between government promises and the realities experienced by citizens has created frustration, anger, and a growing sense of uncertainty about the nation's future.

 

The current administration of President Bola Ahmed Tinubu came into office with a promise to reform the economy and place Nigeria on a path of sustainable growth. Painfully, One of its earliest decisions was the removal of the fuel subsidy and the unification of the foreign exchange market. Economists have argued that these measures were necessary to correct long-standing structural problems in the economy. Indeed, the International Monetary Fund (IMF) recently acknowledged that Nigeria's reforms have improved macroeconomic indicators and strengthened the country's economic strength. However, the reality on the streets tells a different story.

 

The Cost of Living Crisis( cost of living killing the living)

For the average Nigerian, the reforms have translated into unmatched hardship. Transportation costs have skyrocketed, food prices have risen dramatically, and basic necessities have become increasingly unaffordable. Businesses, particularly small and medium-sized enterprises, are struggling with rising energy costs and declining purchasing power among consumers.

 

Research has recently indicate that Nigerian households continue to face a severe cost-of-living squeeze despite improvements in certain macroeconomic indicators. Inflation remains high, and many families are forced to make difficult choices between food, healthcare, and education.

This as also made some youths to make some irrational decisions to do fraud, cause havoc in community and turn hoodlums in order to be able to afford daily basic necessity.

 

The minimum wage, although increased to ₦70,000, has failed to keep pace with the rising cost of living. In practical terms, many workers are earning more on paper but are able to purchase less than they could a few years ago. This has drastically reduced the standard of living for millions of Nigerians.

 

Why Many Nigerians Feel the Administration Has Not Favoured the Masses

 

One of the major criticism of the current administration is not necessarily the implementation of reforms themselves, but the manner in which they were introduced. Economic reforms that impose immediate pain on citizens require adequate and robust social safety nets and support mechanisms. Unfortunately, many Nigerians believe these protections have been insufficient.

 

Subsidy removal was actually expected to free government resources for investments in infrastructure, healthcare, education, and social welfare. Yet many citizens are asking a simple question: Where are the visible benefits?

 

The perception that political officeholders continue to enjoy extravagant lifestyles while ordinary citizens struggle has further deepened public distrust. Reports concerning large government expenditures and allowances have fueled the belief that the burden of economic reforms is being carried disproportionately by the poor.

 

Furthermore, insecurity remains a major concern. In many parts of the country, farmers are unable to access their lands due to banditry cow grazing by the herdsmen ( popularly refers to as the Aboki), violenceand unnecessary fire disasters. This has contributed to food shortages and rising prices, worsening the economic hardship faced by citizens.

In the North-East, Boko Haram and the Islamic State West Africa Province (ISWAP) continue to launch deadly attacks despite repeated government assurances that terrorism has been significantly degraded. In March 2026.

On May 15, 2026, armed men raided three schools in the Oriire Local Government Area of Oyo State, abducting at least 39 students and seven teachers. The bandits killed two teachers in captivity, prompting national protests and heavy ongoing military-police rescue operations

 

 

The Political Consequences

Economic hardship often translates into political dissatisfaction. Across social media platforms and public discussions, many Nigerians have expressed disappointment with the pace of improvement in their living conditions. There is a growing sentiment that while economic indicators may be improving on paper, the benefits have not trickled down to ordinary people.

 

Honestly, Nigeria's current situation is difficult but not irreversible. The country can still emerge stronger if the right policies are implemented. Some of the ways this can only is through;

 

1. Strengthen Social Protection Programmes.

Economic reforms should be accompanied by targeted support for vulnerable citizens, including cash transfers, transportation subsidies, and affordable healthcare initiatives.

 

2. Invest in Agriculture

Food inflation can only be reduced through increased agricultural productivity. The government must address insecurity in farming communities and provide farmers with access to financing, fertilizers, and modern equipment.

 

3. Promote Local Production

Nigeria's dependence on imports makes the economy vulnerable to exchange-rate fluctuations. Supporting local industries and encouraging manufacturing would create jobs and reduce pressure on the Nigeria currency.

 

4. Cut the Cost of Governance

Public trust can only be restored when citizens see government officials sharing in the sacrifices being demanded of the population. Reducing wasteful government spending and increasing transparency would send a powerful message.

 

5. Improve Infrastructure and Electricity

Reliable electricity and transportation infrastructure are essential for economic growth. Lower production costs would help businesses expand and create employment opportunities.

 

Conclusion

Nigeria stands at a defining moment in its history. The current administration has embarked on significant economic reforms that may produce long-term benefits. However, reforms that improve statistics without improving the lives of ordinary citizens risk losing public support. In 2027, there will be another election and the masses are expected to vote but my question is after the election will things remain the same or it will go from worst to imaginable?

 

The true measure of good governance is not found in economic reports or international praise alone; it is found in whether ordinary people can afford food, access quality healthcare, educate their children, and live with dignity and security.

 

The Nigerian people have demonstrated remarkable resilience over the years. What they require now is leadership that combines economic reforms with compassion, transparency, and policies that place the welfare of citizens at the centre of governance.

 

The future of Nigeria will depend not only on the decisions of its leaders but also on their willingness to ensure that the burdens and benefits of reform are shared fairly among all citizens.