Under President Bola Tinubu, Nigerians are grappling with an unprecedented cost-of-living crisis, marked by record-high food inflation of 40.87% in June 2024, severely impacting millions of households. The ongoing 'Days of Rage' protests not only highlight the dire issues of hunger and mismanagement but also reflect a growing national resolve to hold the government accountable for its failures.
Nigerians have been facing an unprecedented cost-of-living crisis, but the situation has worsened under President Bola Tinubu, with skyrocketing food prices and petrol and electricity tariff hikes impoverishing the citizens further. The inflationary spiral, aggravated by structural inefficiencies and governmental decisions, has rendered basic necessities unaffordable for many. The National Bureau of Statistics reported that Nigeria's food inflation rate hit a record high of 40.87% in June 2024, marking an alarming rise in the cost of essential goods. This statistic is not just a number; it translates to real hardship for millions of Nigerians struggling to put food on the table.
The
worsening economic conditions are compounded by policy missteps and the
persistence of a bloated governmental structure. President Bola Tinubu's
administration, which boasts a cabinet of 48 ministers, under-ministers,
special advisers, and aides, has been criticized for its profligacy. This
expansive and costly bureaucracy places a significant burden on Nigeria's lean
treasury, a situation that common sense dictates should be rectified by
streamlining and pruning unnecessary positions. Yet, in a move that defies
economic logic, Tinubu recently established a Ministry of Livestock
Development, further straining the nation's finances and highlighting a
disregard for fiscal prudence.
The
ramifications of these economic policies are felt acutely by the populace.
According to the United Nations, 82 million Nigerians, approximately 64% of the
country's population, may face hunger by 2030 unless substantial measures are
taken to address climate change, pest infestations, and threats to agricultural
productivity. The Boko Haram insurgency and rampant banditry have exacerbated
insecurity in the North, preventing farmers from accessing their lands and
contributing to the nation's food insecurity. These existential threats have
intensified national angst, fueling protests against hunger and poor
governance.
Historically,
Nigeria has a robust tradition of civil society and pressure groups holding the
government accountable. Notable examples include the Nigerian Bar Association,
the National Association of Nigerian Students, and the Nigerian Medical
Association, which have all stood against adverse laws and human rights
violations. Figures like Gani Fawehinmi, Femi Falana, Alao Aka-Bashorun, and
Olisa Agbakoba led protests and legal challenges against governmental
injustices. The #EndSARS protests of 2020, which began as peaceful
demonstrations against police brutality, are a recent testament to this spirit.
However, they turned violent due to attacks from hoodlums and military
intervention, resulting in tragic incidents like the Lekki Tollgate shootings.
The
current wave of protests, branded as 'Days of Rage' and organized by the
"Take It Back Movement," commenced on August 1, 2024, exactly 1,380
days after the Lekki Tollgate incident. These protests aim to address the
pressing issues of hunger and bad governance. The Centre for the Promotion of
Private Enterprise estimates that the economy could lose N400 billion daily due
to these protests, underlining the severe impact on the nation's economic
stability.
Despite
government opposition, including warnings from Secretary to the Government of
the Federation George Akume about potential hijacking by bandits, and the
deployment of security forces nationwide, the protesters remain undeterred. The
Federal Government's tactics to prevent the protests, such as emergency
meetings with traditional rulers and Islamic clerics, signing the new Minimum
Wage Act, and other concessions, highlight its awareness of the populace's
discontent. However, these measures have not quelled the protesters' resolve.
Economic
protests are not unique to Nigeria. In June 2023, young Kenyans protested
against President William Ruto's proposed Finance Bill, which would have
imposed additional taxes on essential goods and services. Similarly, South
Africa witnessed protests against a new equity employment law enforcing racial
quotas, which opposition parties argued discriminated against minorities. These
instances illustrate a broader trend of public discontent with economic
policies perceived as unfair or detrimental.
The
cost of protests in Nigeria, both economically and socially, is immense. The
2020 #EndSARS protests resulted in an estimated N1.5 trillion economic loss
over ten days, with significant damage to national assets and public
infrastructure. The government's response to the recent protests reflects a
failure to address the root causes of public discontent effectively.
President
Tinubu's administration has asked for time, citing the inherited economic
challenges. However, the juxtaposition of economic hardship with the luxury of
a bloated government creates a perception of indifference and mismanagement.
With Nigeria's national debt soaring to N121 trillion, the government's fiscal
irresponsibility, exemplified by the purchase of new presidential jets and
lavish official convoys, starkly contrasts with the austerity expected of its
citizens.
To
address the economic crisis, President Tinubu must implement pragmatic
solutions. This includes enhancing security to allow farmers to return to their
lands, thus mitigating food inflation. Adopting modern agricultural practices
such as ranching instead of open livestock herding could also improve
productivity. Furthermore, completing critical infrastructure projects and
ensuring reliable electricity supply are essential for small and medium
enterprises to thrive.
The
bottom line is clear: the current economic turmoil in Nigeria under President
Bola Tinubu's administration necessitates urgent and effective policy reforms.
Reducing government excess, improving security, and investing in agricultural
and infrastructural development are vital steps towards alleviating the
cost-of-living crisis and restoring public confidence. The government's ability
to navigate these challenges will determine the nation's socio-economic
stability in the years to come.
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