Despite great rebuttals against the racist rhetoric that Africa is a country, experience proves otherwise. The continent suffers under the hegemony of corruption and greed. Days ago, an Ugandan Senator, Protazio Begumisa showed off a wooden bridge he ‘constructed’ for his constituents. In the photo, he could be seen giving a thumbs up. It is a familiar omen especially for Nigerians where palliatives have become the substitute for actual development, where political bravura supersedes results.
The Naira weakens daily in spite of the Central Bank’s efforts. PoS operators are more reliable than ATMs for the sake of withdrawing money. Successful governments scapegoat cryptocurrency despite little success in prosecuting former Governors and ministers for corruption. Ours is a symphony of dysfunction and it is the common man who most bears the brunt.
According to the National Bureau of Statistics, in April 2023, the headline inflation rate rose to 22.22% relative to March 2023 headline inflation rate which was 22.04%. Looking at the movement, the April 2023 inflation rate showed an increase of 0.18% points when compared to March 2023 headline inflation rate.
Similarly, on a year-on-year basis, the headline inflation rate was 5.40% points higher compared to the rate recorded in April 2022, which was 16.82%. This shows that the headline inflation rate on a year-on-year basis increased in April 2023 when compared to the same month in the preceding year (i.e., April 2022).
Likewise, on a month-on-month basis, the All-Items Index in April 2023 was 1.91%, which was 0.05% points higher than the rate recorded in March 2023 (1.86%). This means that in April 2023, on average, the general price level was 0.05% higher relative to March 2023. The percentage change in the average CPI for the twelve months ending April 2023 over the average of the CPI for the previous twelve months was 20.82%, showing a 4.37% increase compared to the 16.45% recorded in April 2022.
Nigeria is headed for the rocks if its leaders do not change the strategy. Enough press releases about committees that yield nothing. Enough private political consultations that only yield press releases and nothing more. Enough social media noisemaking on the part of the agencies meant to prosecute corrupt leaders. Enough hunting of journalists who speak the truth to power. The President was a part of NADECO in the 90s. To have his administration be the origin of a new chapter of authoritarianism in Nigeria would be a great historical irony, not dissimilar to Ugandan leaders over the years. He must resist this temptation.
Hope is not lost. Hope can be renewed according to the promises of the President. All that Nigerians ask is visible actualisation of promises. Not mere bravura, the people desire results. Youths are escaping the country enmasse, those who haven’t left are hard at work to leave. The Nigerian dream is now a desire to leave Nigeria. No war, yet, millions are on a self-imposed exile. We call on the leaders to alter our current trajectory, to imbue the citizens with renewed hope. No result, no respect!