President Bola Ahmed Tinubu’s visit to China has been portrayed as a significant move towards shaping the future of Nigeria's economy. One of the key takeaways from the trip is that the hard decisions his government has so far taken since May 29, 2023, such as subsidy removal which he literarily announced on the day of his inauguration as president by saying “Subsidy is gone”, and currency devaluation on assumption of office, are intended for the greater good of the country. These measures are positioned as critical steps toward revamping Nigeria’s financial stability, creating long-term benefits, and promoting sustainable development.

To buttress the foregoing viewpoint, it is explanatory to recall that President Bola Ahmed Tinubu in Beijing said he was ready to take the hard decisions to move the nation forward, adding that it is not always easy for a leader to have a national consensus on issues.

However, while these tough choices are being enforced, it is essential that the leadership also takes on the responsibility of tightening their own belts. Nigerian citizens are being asked to make sacrifices, even as they face the brunt of the current economic hardship, with inflation skyrocketing and daily essentials becoming increasingly unaffordable. If the Tinubu government is serious about reviving the country’s economy, it must ensure that those at the top lead by example.

The reason for urging Nigerian political leaders to lead by example cannot be farfetched as it is unarguable that in times of national austerity that nothing could be more counterproductive than government officials maintaining an extravagant lifestyle, while the masses are called to endure economic hardship. For Nigerians to buy into the narrative that these tough measures are truly for their benefit, they need to see evidence of leaders walking the talk.

In fact, austerity should not only be reserved for the common man. The Nigerian populace deserves to see their leaders experience some of the same sacrifices they are being asked to make. This could mean cutting down on lavish government spending, reducing the perks enjoyed by public officials, and reining in the ostentatious lifestyle often flaunted by those in power.

During Tinubu's China visit, he would have observed how that country’s leadership, particularly during critical periods of reform, embraced austerity measures themselves. Chinese leaders exhibited a sense of shared sacrifice with their citizens, which helped strengthen public trust in the government’s vision. Nigeria’s leaders should take a page from this playbook.

In fact, the need for public officials to show solidarity in times of hardship cannot be overstated. Nigerians are keen observers, and they recognize when their leaders are out of touch with the realities on the ground. A government that is seen as disconnected from the people’s struggles is more likely to face public backlash and skepticism.

If Tinubu and his administration are genuine in their quest to revamp the economy, they must commit to belt-tightening across all levels of leadership. Therefore, government can demonstrate few practical steps in that direction by reducing its convoy. The sight of long, luxury convoys accompanying politicians has become synonymous with excess and privilege. A reduction in such displays would signal that the government is serious about cutting waste.

Trimming the salaries and benefits of politicians and public officeholders in Nigeria is no doubt a step towards cutting cost of governance. A significant reduction in these perks, along with transparent disclosure of earnings, would show a willingness to share in the sacrifices being demanded of ordinary Nigerians.

Also, there is the need for the limitation of foreign trips and luxury spending. Given the foregoing backdrop, it is not a misnomer to suggest that frequent foreign travels, especially for non-essential reasons, must be curbed. While international relations are important, unnecessary trips at taxpayers’ expense in times of economic hardship send the wrong message.

In fact, Nigerian political leaders must lead by example. This can be done by demonstrating an austere lifestyle in times of economic turmoil, just as presently being experienced.  In the face of Nigeria's ongoing economic challenges, one fundamental question remains unanswered: Are our political leaders truly in touch with the reality of the hardship facing the masses? While millions of ordinary Nigerians grapple with skyrocketing inflation, unemployment, and the ever-increasing cost of living, it seems as though the nation’s leadership class is insulated from the economic turmoil gripping the country. This disconnection raises an urgent need for political leaders to lead by example through the demonstration of an austere lifestyle.

Without any scintilla of hyperbole, Nigeria is facing one of its toughest economic periods in recent history. According to the National Bureau of Statistics (NBS), inflation reached an all-time high in 2023, with prices of food, fuel, and essential services becoming unaffordable for many. The removal of fuel subsidies has worsened the situation, leaving citizens with the daunting task of navigating these harsh economic realities with little relief in sight. Yet, despite these difficult conditions, political leaders continue to live lives of opulence, funded by taxpayers who are barely surviving.

From fleets of luxury cars to extravagant overseas trips and ostentatious personal expenses, Nigeria’s political elite has shown little sign of embracing an austere lifestyle that reflects the harsh times. The public sees these extravagant expenditures and wonders how leaders can convincingly address the economic crisis while being so far removed from the struggles of the average citizen.

Extravagant spending by the presidency under Tinubu's administration has sparked widespread criticism in a country already grappling with economic hardships. Amid rising inflation and poverty, reports of lavish expenditures by the presidential office have fueled public discontent. Critics argue that the president’s office, along with other government bodies, has indulged in excessive spending on non-essential projects and luxuries, diverting funds from critical areas like education, healthcare, and infrastructure. This comes at a time when most Nigerians are struggling to afford basic necessities, leading to heightened frustration.

One glaring example of this extravagance is the budget allocated for the presidential fleet, security, and renovation of government buildings. Despite promises of austerity and responsible governance, the administration has continued to allocate significant funds to maintain the lifestyles of top officials. This includes multi-billion naira contracts for refurbishing presidential residences and excessive travel expenses for international trips, which have raised questions about priorities and the tone it sets for public office holders. Such practices contrast sharply with the administration's narrative of economic recovery and fiscal discipline.

The impact of these extravagant expenses extends beyond mere optics. It undermines public trust in the government’s ability to manage resources prudently and to empathize with the plight of ordinary citizens. While the presidency has defended these expenditures as necessary for governance, many Nigerians view them as out of touch with the economic reality on the ground. With increasing calls for transparency and accountability, the administration faces pressure to reconsider its spending habits to avoid further alienating an already disillusioned populace.

In times of economic downturn, a true leader should not only acknowledge the crisis but also take visible and meaningful steps to share in the sacrifices of the people. To restore public trust, Nigerian political leaders must demonstrate that they are willing to tighten their belts just like the citizens they serve. This can be done in several practical ways. 

The reason for the foregoing cannot be farfetched when political leaders visibly adopt an austere lifestyle; it sends a powerful message to citizens: we are in this together. It shows that leadership is not about privilege but about service, and that even the highest offices in the land are not exempted from the sacrifices required to rebuild the economy. This could lead to increased public confidence and a renewed sense of unity in overcoming the nation’s economic challenges.

Moreover, demonstrating austerity at the top can inspire better management of resources across all sectors of society. If leaders embrace frugality and accountability, it could encourage public institutions and private businesses to follow suit, leading to a more responsible and efficient use of national resources.

Nigeria’s economic crisis demands much more than rhetoric and promises. It requires real leadership that is empathetic and connected to the struggles of the masses. Political leaders can no longer afford to live in luxury while millions of Nigerians suffer. Leading by example through an austere lifestyle is not only a symbolic gesture but a necessary step towards bridging the growing gap between the leaders and the led. The time has come for our leaders to show that they are ready to make the same sacrifices they expect from the people, and in doing so, they will be better equipped to steer the nation towards economic recovery.