Nigeria at 64: Citizens grappling with challenging economic landscape

... As traders, commuters decry acute hunger, poverty, cost of living crisis

As Nigeria marks its 64th independence anniversary, citizens are grappling with a challenging economic landscape. In interviews conducted by Rocketparrot News correspondents BENEDICTA BASSEY and ABIODUN OMODARA across Lagos State, many Nigerians voiced their frustrations over persistent issues like inflation, unemployment, and the volatility of global oil prices. 

While October 1 is traditionally a day of celebration, many feel there is little to celebrate this year, given the alarming levels of poverty and hardship faced by the populace. Despite the political independence from colonial rule, many citizens report feeling neither happy nor free, highlighting widespread hunger, poverty, inadequate housing, among other socio-economic challenges.

Critics point to the policies implemented by President Ahmed Tinubu's administration, which they argue have exacerbated the plight of millions, pushing them deeper into poverty and suffering.

There is a growing call for a significant overhaul of the political landscape to pave the way for meaningful change and development in Nigeria.

For a young Nigerian student, who identified himself simply as Emeka, the problems in Nigeria have overshadowed the need for independence celebration.

He identified inflation, high unemployment rate, inadequate infrastructure among others as key problems hampering the celebration of independence in Nigeria.

He said,"The economic situation in Nigeria is a serious issue of concern for many citizens. We are grappling with issues such as inflation, high unemployment rate, and a lack of diversification in the economy.

"Nigeria has made strides in various sectors since independence, but there are persistent challenges. Corruption, inadequate infrastructure, and over-dependence on oil revenue have hindered our economic growth potential.

"Inflation has significantly increased the cost of living for many Nigerians. Basic commodities are highly expensive, and this has placed a strain on individuals and families, especially those with limited incomes.

"I believe there are opportunities for growth in sectors such as agriculture, technology, and renewable energy. Diversifying the economy and investing in human capital could drive sustainable economic development in the long term.

"Exchange rate volatility has posed challenges for businesses, particularly those reliant on imported goods or foreign exchange. It has led to uncertainty and increased operational costs, negatively impacting businesses and consumers alike."

He called for more government efforts in terms of policies to check these trends plunging the citizens into untold hardship.

Similarly, a native of Esan Central in Edo State, Aigboje Rosemary, advocated policies that would meaningfully impact the citizens for good.

Aigboje attributed the difficulties in the country to bad leadership, noting that “the leaders of this country are yet to meet my expectations of a better Nigeria where every citizen will be smiling and be willing to defend her fatherland.”

According to her, "At 64, Nigeria has not achieved anything. Being called the giant of Africa, we Nigerians ought not to suffer this magnitude of problems.

"We that are suffering in Nigeria; it's the leadership of the country that has placed us where we are today. Nigeria is supposed to be like Europe today. For these 64 years, we cannot claim to have achieved like our colonial masters. I am not comfortable with the state of Nigeria as the leadership has not met my expectations.

"Everything is highly expensive. The government should have mercy on the poor masses and remedy bad policies to work in our favour. Government should help us. With my tears and prayers to God, I believe God will save Nigeria.”

Analysts believe that one incontrovertible fact in Nigeria today is that in the past one and a half years of Tinubu’s government, the citizens have cried beyond expectations with series of protests held to call the attention of the government to the sordid plights of Nigerians.

President Tinubu upon assumption of power began with the removal of fuel subsidy and the associated increase in the pump prices of petroleum products, increase in electricity tariff, naira devaluation as well as other neo-liberal policies.

The combined efforts of these policies have succeeded in making life more miserable for the working class, the youth and the poor masses of the country resulting in a comatose economy.

Even with the newly approved minimum wage of N70, 000 which has not been adequately implemented in some states, the living standard of Nigerian workers has continued to be one of extreme pauperisation because of how high inflation has hit the country.

The new wage is much worse in value than the old paltry N30,000 one time approved in 2019.

The same goes for sections of the middle classes who now find themselves flung onto the scrap heap of the labouring masses as galloping inflation and the crashing currency have succeeded in squeezing income, raising prices and crashing small businesses.

Speaking on Nigeria at 64, a trader at Iyana Ipaja, Mr Ayokule Shola, bemoaned the incessant collapse of petty businesses in the country, following galloping inflation.

He said, "For me, I can't really record anything to Nigeria that we have achieved because the suffering is just too much. I remember vividly when I newly joined my bread business, a small portion of bread which used to be sold at N300 is now sold for N1,200 without any added value. People are now finding it difficult to buy and you expect things to be okay.

“Before, we could cook a meal with N1,000 but today it's not possible again. I believe all these things are being pushed by the government; if the youth should come out, I know at the end of it, there will be bloodshed. But, the government too will know what will happen to them.

"The government of the day should fix this country. If the inflation rate goes down, food will be relatively cheap, and there will not be too much suffering in Nigeria. Nigeria is marking 64th independence anniversary and what we have are people running out of the country. Students that are supposed to enjoy from the government are even suffering.

“Tinubu and his cabinet members are inhuman, I don't want them in power, all of them are selfish. They don't consider anybody. They are evil on their own. But they forget that He that gives them power to rule still has the ability to take it from them. The best president so far that I can boast of is President Umaru Yar'Adua. So, forget about Tinubu; he pushed us into this poverty mess."

He added, "God has blessed us in this country. We have a lot of things that bring money to this country. One person will now sit down in a place and be embezzling the money. For what? We all we have needs. Every family, every man, every young average Nigeria, we all have needs. They should not think of themselves alone."

A civil servant and student, Mr Daniel Michael, called on the government to address the plight of students in the country.

He said, "We are celebrating 64 years of our independence today in Nigeria, yet things have not been working well.  In the educational aspect, some students dropped out of school because of financial problems.

“With the rate of inflation in the country, since I finished my education, it has been difficult to further in my education because many things aren't working in Nigeria."

Michael, who called on the government to assist the students more, added that bribery and corruption should be eradicated.

He said, "I am pleading with the Nigerian government to look into the plight of the students. The frustration in the country has made some students to join cult groups and fraudulent businesses. Also bribery and corruption has taken the front burner in the country, such should be nipped in the bud.

“Nigeria is hot right now. People are dying whereas the elite put humongous amount of money in their houses, under their beds and in other safe vaults. Everything is expensive and people are groaning under the heavy weight of agony, poverty and penury.

"There's nobody to help the masses. Most children can no longer go to school, many Nigerians are seriously hungry," a commuter who did not want to be mentioned said aggressively.

Voicing out his frustration to the government, he said, "If you do bad thing, you will see bad thing. If you do good thing, you will see good thing. The government should know that Nigerians are suffering too much.”

Experts have recommended that it is expedient that the federal government and the 36 states begin to cut down on the waste that is now associated with government today and engage in the review of government spending.

They asked the three tiers of government to rethink the cost of maintaining public office holders as most of the resources being wasted should be deployed to areas of pressing challenges both at the federal level and in the states.

They also urged government to give priority to the plight of the masses for unity, peace and progress in the nation.