Sixty-three years ago, when the British Union Jack was lowered for Nigeria’s national flag, expectations were high. Being the most populous country in Africa, Nigeria became a beacon of hope for the entire continent. Today, opinions are still divided as regards the potential of Nigeria to become the true giant of Africa.
In terms of achievements, the country has recorded quite a few. One of them is the fact that Nigeria has remained united despite all odds. An attempt by the Eastern Region to secede in 1967 failed as it engendered a bitter civil war that led to the death of about three million people. At the end of the war in 1970, Nigeria began the process of healing. The military government of Gen. Yakubu Gowon initiated what was then known as the three Rs: Reconciliation, Rehabilitation and Reconstruction. This has not fully worked as there are still pockets of agitations for self-determination.
Some progress has also been made in the area of infrastructure development. Many roads and bridges have been constructed. Also, many states of the federation have airports, though some are not viable.
We have also been able to sustain our nascent democracy despite the upsurge in military coups in Africa. Nigeria has had its season of military interventions, but since 1999, the country has managed to sustain the transition from one civilian government to the other.
Nevertheless, our democracy is not what it ought to be. The worst is that elections, the process through which citizens could change a bad government, have been seriously bastardised. Most times, they are neither free nor fair. The judiciary, which is supposed to right the wrongs in the system, has not measured up to its billing.
Rather than improve the standard of living of the people, successive civilian governments appear to have made things worse. Poverty is endemic with over 133 million Nigerians living in multi-dimensional poverty. As at 2007 when Chief Olusegun Obasanjo handed over to Umaru Yar’Adua, inflation rate was 4.6 per cent. Goodluck Jonathan, who took over from Yar’Adua, handed over inflation rate of 9 per cent to his successor, Muhammadu Buhari in May 2015.
By the time Buhari handed over to Bola Tinubu in May 2023, the rate of inflation had climbed to a double digit figure of 22.41 per cent. Today, the inflation rate has further risen from 24.08 per cent in July 2023 to 25.80 per cent as of August 2023, the highest in about 20 years. Food inflation rate, as of August 2023, was 29.34 per cent. According to the National Bureau of Statistics (NBS), food prices jumped within 12 months from July 2022 to July 2023 by 31 per cent.
A recent data from the Debt Management Office (DMO) indicated that Nigeria’s public debt profile rose to N87.38 trillion in the second quarter of 2023 as against N49.85 trillion in the first quarter of 2022. The country experienced its deepest recession since the 1980s in 2020 and that was the second in five years. From about N21.89 to a dollar in 1999, the exchange rate has climbed to about N1, 000 to a dollar today.
Education and health sectors have continued to suffer different deprivations. Apart from low budgetary allocations, the two important sectors have had to contend with frequent strikes by different unions to press home their demands for better welfare and better working conditions.
Also, successive governments could not tackle the rising insecurity. Terrorists and bandits have made life unbearable for millions of Nigerians. They have continued to abduct many citizens, including thousands of innocent schoolchildren for ransom. Some did not come back alive. Recently, some terrorists ambushed and killed about 36 soldiers on a rescue mission in Shiroro local government area of Niger State.
Corruption has progressively worsened too with Nigeria scoring low marks in Transparency International’s Corruption Perception Index (CPI). In the 2022 CPI, the country ranked 150 out of 180 countries assessed. The country’s score of 24 out of 100 points was the lowest since 2012.
It is still early to assess President Bola Tinubu. But judging from his first 100 days in office, it is not yet time to smile. On his inauguration day on May 29, 2023, he hastily announced the removal of fuel subsidy. This pushed up the prices of fuel and other commodities in the market. From about N185 a litre, the price of fuel skyrocketed to over N600 a litre. Despite the high cost of goods and services, the minimum wage has remained N30, 000 a month.
That Nigeria has survived all these years is a miracle. But the patience of Nigerians may snap if urgent steps are not taken to rescue the country. What is needed from our leaders is sincerity of purpose, accountability and policies that will pull the country out of the doldrums. They should embark on necessary electoral, political, economic and other reforms that will put Nigeria on the path of growth and development.