Nation in distress: The urgent need for economic and security relieAs the one-year anniversary of President Tinubu’s inauguration approaches, the nation is gripped by an unprecedented economic crisis, leaving a trail of hardship and anger in its wake.
Recall that protests have erupted in Minna, Kano, and Ondo, as it became clear that the rising cost of living in Nigeria reached a boiling point. Angry youths and women took to the streets, calling on the Tinubu administration to address the pressing issue of hunger and economic hardship.
The Northern wing of the Christian Association of Nigeria (CAN) has also joined the chorus, urging the federal government to take immediate action to alleviate the suffering of ordinary Nigerians.
The high cost of foodstuff, transportation, goods, and services has made life unbearable for many. The escalating insecurity, marked by rampant killings and kidnapping for ransom, has only compounded the problem. The economy is in distress, and the security situation is dire.
The removal of subsidies on petroleum products last May sparked a chain reaction of price hikes, with petrol prices skyrocketing by nearly 300 percent.
The ripple effect has been devastating, with the prices of essential items soaring to unimaginable heights. Companies are passing on transportation and energy costs to consumers, exacerbating the scourge of hunger and deprivation.
Youth frustration is boiling over, fueled by the difficulties brought on by President Tinubu’s policies, including the controversial floating of the Nigerian currency. The once-simmering pot of discontent has reached a boiling point, with protests and demonstrations erupting across the nation.
As the hunger crisis deepens, Nigerians are crying out for relief. The government must act swiftly to address the economic woes and restore hope to a desperate citizenry.
The clock is ticking, and the nation waits with bated breath for a solution to this avoidable crisis. Will the government heed the call and rescue Nigerians from the clutches of hunger and despair? Only time will tell.
Meanwhile, The Sultan of Sokoto, Alhaji Muhammadu Abubakar III, and the Jama’atu Nasril Islam (JNI) have sounded the alarm, urging governments to intervene in the worsening economic hardship that has pushed Nigerians to the brink.
The removal of subsidies on petroleum products last May sparked a chain reaction of price hikes, with petrol prices skyrocketing by nearly 300 percent.
The consequences of the government’s policies have been swift and brutal, with inflation spiraling out of control and wreaking havoc on the Nigerian people. Basic food prices have skyrocketed, with staples like rice, beans, maize, plantain, and tomatoes increasing by a staggering 25.34 percent to 40.01 percent as of March 2024.
To add insult to injury, the government has hiked electricity tariffs by a whopping 603 percent to N225 per kilowatt, despite the abysmal power generation that fluctuates between 2,500 and 4,000mw. This has led to the collapse of numerous small businesses, exacerbating the economic hardship.
The current economic situation, poverty level, removal of fuel subsidies, and galloping food inflation have created a perfect storm that threatens the very existence of the average Nigerian. The biting economic hardship has pushed many Nigerians, especially the youth, to the brink of desperation, with many seeking to flee the country in search of better opportunities abroad.
The situation is dire, and the government must take immediate action to address the economic crisis, restore hope to the people, and prevent a looming catastrophe. The clock is ticking, and the nation waits with bated breath for a solution to this avoidable crisis.
A recent poll conducted by NOIPolls in August 2023 revealed a staggering 63 percent of adult Nigerians are eager to leave the country in search of better opportunities.
The survey found that 73 percent of youths aged 18-35 are leading the charge, driven primarily by the quest for economic prosperity (60 percent) and education (32 percent). Insecurity, though a smaller concern, still motivates 3 percent to seek refuge abroad.
As Nigeria grapples with the triple threats of hunger, insecurity, and dwindling purchasing power, the streets have become a hotbed of kidnapping, terrorism, and banditry.
The value of the naira continues to plummet, eroding the purchasing power of ordinary citizens. With no respite in sight, the nation teeters on the brink of collapse.
The government must act swiftly to address the economic and security crises ravaging the country. The mass exodus of youths, Nigeria’s future, is a ticking time bomb that demands immediate attention.
Urgent steps are needed to revitalize the economy, ensure security, and restore hope to a desperate citizenry. The clock is ticking, and the nation waits with bated breath for a solution to this avoidable crisis.
Furthermore, 25 percent of Nigerians implored the government to rein in inflation, which has eroded their purchasing power. Others called for better working conditions (14 percent), improved citizen welfare (11 percent), and enhanced healthcare services, economic stability, and electricity supply (12 percent). These pleas echo the frustrations of a nation yearning for basic necessities and a decent standard of living.
The government must heed these urgent calls and prioritise the welfare of its citizens. By addressing these fundamental issues, Nigeria can stem the tide of migration and create a more prosperous and secure future for its people. The time for action is now.
It is time for the federal government to take concrete steps to stimulate economic growth, create jobs, and reduce the cost of living. It is also imperative to tackle the security situation head-on, ensuring that citizens are safe and secure in their daily lives.
The suffering of Nigerians is real, and it is the responsibility of the government to alleviate it.
We urge the Tinubu administration to heed the calls for help and take decisive action to address the economic and security challenges facing the nation. The time for action is now.