The story that is on every lip and also trending widely is that “life is hard.” It is indeed true. The times are tough and Nigerians are no longer smiling due to unbearable economic hardships. Who will protect the vulnerable and long-suffering masses who are struggling daily to eke out a living? Who will cover their “nakedness”?

President Bola Ahmed Tinubu told us that becoming the president of Nigeria was his life-time ambition. I don’t see anything wrong with that statement of purpose but the challenges of the moment will test his leadership skills. I have written in previous articles that he has the capacity, courage and experience to lead the country.

Now is the time to walk the talk. However, I agree with commentators who say that it is still too early to criticise the Tinubu administration that is less than 60 days old.

But Mr. President needs to act quickly in order not to lose his goodwill with Nigerians. What are the issues again? The rising cost of petrol and expensive foreign exchange rates have created a new “economic bubble” that we are not used to.

Once the pump price of petrol goes up, there is always a multiplier-effect on the prices of other goods and services. School fees, transport fares, cost of foods and medicines, house rents and electricity tariffs, etc have all gone through the roof.

It is public knowledge that efforts are being made to re-set the economy but it will take some time for the benefits to kick in. Critics argue that the “bitter pill” being forced down the throats of Nigerians ought to have been “sugar-coated” to minimise the impact of the dire economic situation that has enveloped the nation.

Palliatives that are now being discussed, according to the critics, should have been in place before the petrol subsidy was removed. I think that is a fair point, but Nigerians are suspicious of palliatives in its form, scope and implementation – in much the same way they believed fuel subsidy was a huge fraud – or “organised crime” as Peter Obi put it – that was beneficial to the rich and exploitative to the poor.

Prof Farooq Kperogi, one of my favourite columnists writing from his base in the US, criticised, the removal of “subsidies” which he described as “anti-people policy”. In America where Kperogi lives, he argued that subsidies on petrol and agriculture are retained and sustained, otherwise they could become highly toxic political issues.

I am sure Kperogi knows that subsidies in Nigeria are stolen and the thieves get away with their loot but it is not so in America where every cent is accounted for. That is the huge difference. However, I agree with him that subsidy is not a bad thing but it is the mismanagement that is bad. 

The mere fact that people have not poured out in the streets protesting the removal of subsidies – in spite of the economic pains – does not mean we have swallowed the “religious dogma” envagelised by the World Bank and IMF.

To the best of my knowledge, no “ideologue” has been garlanded with medals since the removal of petrol subsidy and unification of the exchange rates (I&E window and parallel market rates) neither is Nigeria a lackey of the World Bank and IMF.

Prof Kperogi, whether we call it “neo-liberal economics” or the “reign of market forces,” Nigeria is broke (from many years of non-stop egregious looting of the treasury) and there are no easy answers to the deep-rooted economic problems that have festered over several seasons.

The situation today is dire and different from what led to the SAP riots of the 1980s. Nigeria is poorer today than 30 years ago because our commonwealth has been stolen by the “elites” during that period at the expense of the poor and there are usually no consequences.

Every now and then, we receive “Abacha loot” from the US. The money that the late General Sani Abaca “saved” for us must have been in billions of dollars! You will agree with me that he was not the only one who looted our treasury, but we are yet to receive similar repatriation of stolen funds by others from Europe and America because they are still alive.

I agree with you that our poor people have been pauperised severely by the thieving mob, parasites, bootlickers and rent seekers of Nigeria. It explains why you support the need for subsidies but when there is no money in the treasury to pay for subsidies, what do we do? Ask NNPC Limited CEO, Mele Kyari, and he would tell you that the federal government is owing the corporation over N2.8 trillion.

Gong by the Petroleum Industry Act (PIA), petrol subsidy had become illegal after February18, 2022. All the appropriations made by the Buhari administration in the 2022 and 2023 budgets were not backed by funds which explains why NNPC is being owed.

Nigeria is not a poor country but the poor are getting poorer because they have been subsidising the rich. What does it even mean nowadays when we say Nigeria has the largest economy in Africa when people are dying of hunger?

Different cycles of leaders have failed us since the days Nigeria borrowed money to IMF. You described these leaders as “unashamed sadists” because they “derive contentment from seeing others writhe in pain.”

I am equally as concerned as you in this matter because Nigeria’s revenues since 1960 does not match our growth and development. Ideally, our per capita income should have been higher that of China and Singapore by now, just to cite two examples. Each time we take two steps forward, we take 10 steps backward.

Even Dubai with eye-popping skyscrapers which our looters who hide under the demonising shadow of “elite conspiracy” travel to is a city that grew out of a desert in less than 30 years! Public officers and civil servants who own prime properties in UAE, especially Dubai, know themselves.

Can you really blame the followers whom you described as “unthinking, self-immolating masochists” because they “obtain joy from the suffering inflicted on them by their leaders” who come and go through revolving doors of shame that recycle them?

Is it possible to obtain joy from suffering that is the result of years of neglect caused by lack of visionary and purposeful leadership? In a country with over 130 million multi-dimensionally poor people, these “followers” have always resorted to self-help to survive because they believe that they are “on their own” – help does not come from those who preside over their affairs at the local council level or subnational government or the federal government.

They are easily recruited by politicians and thereafter sing their praises and pay obeisance to them. The poverty cycle continues and the net is expanded to admit more poor people yearly.

How much did Nigeria spend on petroleum subsidy payments until it was removed or is it a no-go area? If that probe is ever commissioned, the findings will perhaps be the biggest revelation yet on how the “organised crime” was perpetrated.

In order to break the poverty cycle, President Bola Tinubu has promised Nigerians that he would renew their hopes to achieve a new and better life. In the process, good and bad decisions would be made. For example, the N8,000 cash “subsidy” targeted at 12 million “poor and vulnerable” Nigerians was withdrawn because it was a rushed “quick-fix” that would have been counter-productive.

The long-term gains that would come after the short-term pains is the “hope” that Nigerians really need, but the optics from Abuja must be right. What do I mean? 1.) the Tinubu administration must be sincere in all its policy choices and implementation; 2.) this sincerity will breed trust that is badly needed at this time; 3.) display of transparency and accountability in government spending and block all the financial leakages; 4.) the poor can no longer subsidise the rich, and  5.) fairness, equity and social justice must be the abiding principle of the administration.

President Tinubu needs these “five pillars” to succeed and finish well. However, in my own reckoning, the president did not need more than 30 days to announce his list of ministers with their respective portfolios attached.

But I have come to know that things are not usually what they seem, and Nigeria is always a hard nut to crack. I do not envy any president who sits in Aso Villa; it is always the case of the more you look, the less you see.

I suspect that the “vested interests”’ and “middlemen” who are professional lobbyists have been at work tinkering with the ministerial list and it would appear they successfully boxed President Tinubu into a tight corner.

Even if that is what happened, I am still willing to give Mr. President the benefit of the doubt, and I am confident his presidency will thrive.

What is important is that we cannot give up on Nigeria, no matter the challenges that we face. In order to keep hope alive, we must work together to solve our problems. The signs are there that the economy will bounce back.

Braimah is a global public relations and marketing strategist. He is also the publisher/editor-in-chief of Naija Times (https://ntm.ng) and Lagos Post (https://lagospost.ng), and can be reached via This email address is being protected from spambots. You need JavaScript enabled to view it..

What we refer to as palliative to cushion the effects of harsh economic conditions in Nigeria, could be coterminous to social security and welfare in other climes. The government must come up with a more seamless, efficient and effective deployment of social succors to the unemployed and citizens that are mostly affected by our sudden resolve as a people to finally come to terms that we have to correct and pay for our past profligacy.

This, the government must depart from the usual practice of just throwing money to the people and come up with more creative initiatives that would honestly address the suffering of the people in a most honorable and transparent way. Not like the discredited initiatives of the past that were dogged by allegations of diversion of funds and corruption

Whilst the government has taken the right decisions that have so far defined the early days of Tinubunomics- market-driven economic policies and life changing reforms, huge sacrifices have to be made by all Nigerians, irrespective of social status or office. We cannot have a different set of rules for the long-suffering Nigerians and the parasitic elect, and the ruling class. If we are all called to make sacrifices under the prevailing high cost of living and stagflation, then it must cut across boards.

A situation where some politicians and government officials continue to live large and carry on as if nothing has changed in Nigeria, whilst calling on the poor to tighten their belts, is not only outrageous but, inhumane and dangerous for the peace and progress of the country. To get the Nigerian economy up and going again in the right trajectory would demand that we all, (not some) brace up to the reality of a bankrupt and economically comatose country, currently in intensive care unit (ICU), that needs all the medication for revival and resuscitation.
To achieve this, requires extreme life style changes, monetary and fiscal discipline, both at the national and sub national levels.

On the palliatives: the distribution and administration should by decentralized to the 31 states and down to the 774 Local Government Areas. In doing this, the central government should lay down the modalities and set out minimum standards and criteria for operationalizing the initiative, along, Short, Medium to Long Term hardship amelioration plan.

Nigeria public and private sector leadership, must lead by example, so that the citizens would follow in the examples already set by their leaders.
Drastically reduce the size, and cost of both the state and federal governments.

On the short term: the FGN and the state governments, apart from reducing the size of government, must come clean with tax payers to reveal the much secretive total emolument of members of the State and National Assemblies, in line with the Freedom of information Act.

And to address the impact of the astronomical high cost of petrol and other fuels on the economy, and General cost of living, governments should resuscitate their states buses, boats and other transportation systems for mass transit with the benefit of economies of scale on transport cost

Then on the medium to long term, in order to resuscitate Nigeria's challenging economic situation and address the negative impacts of corruption, crude oil theft, insufficient foreign currency, lack of investment in infrastructure, and low foreign direct investments, the Tinubu government should be, if not already considering taking the following steps:

1. Tackle corruption: Implement strong anti-corruption measures, including the establishment of an independent anti-corruption agency, strict enforcement of existing laws, and prosecution of corrupt officials. This will help restore confidence in the government and attract foreign investments.

2. Diversify the economy: Reduce dependence on oil by promoting and supporting other sectors such as agriculture, manufacturing, tourism, and technology. This will create employment opportunities, increase revenue streams, and reduce the vulnerability to oil price fluctuations.

3. Improve infrastructure: Increase investment in infrastructure development, including roads, railways, ports, and power supply. This will enhance connectivity, reduce transportation costs, and attract both local and foreign investments.

4. Encourage foreign direct investment (FDI): Create a conducive business environment by simplifying bureaucratic processes, reducing red tape, and providing incentives for foreign investors. This can be done through tax breaks, investment guarantees, and streamlined regulations.

5. Enhance security: Address the issue of crude oil theft by improving security measures, increasing surveillance, and cracking down on illegal oil bunkering activities. This will protect Nigeria's oil resources and increase revenue for the government.

6. Promote education and skill development: Invest in education and vocational training to develop a skilled workforce that can contribute to economic growth and attract foreign investments. This will also help reduce unemployment and poverty rates.

7. Strengthen institutions: Reform and strengthen key institutions such as the judiciary, police, and regulatory bodies to ensure transparency, accountability, and the rule of law. This will create a level playing field for businesses and investors.

8. Foster regional and international partnerships: Engage in regional and international collaborations to attract investments, access new markets, and benefit from technical expertise. This can be done through trade agreements, partnerships with multinational organizations, and participation in regional economic integration initiatives.

9. Promote entrepreneurship and innovation: Create an enabling environment for startups and small businesses by providing access to finance, mentorship programs, and business development support. This will stimulate economic growth, job creation, and innovation.

10. Improve social welfare: Implement social welfare programs to alleviate poverty, improve healthcare, and provide basic amenities to the population. This will enhance the standard of living and create a more inclusive economy.

It is important to note that these steps require a long-term commitment and sustained efforts from the government, as well as collaboration with various stakeholders including the private sector, civil society, and international partners.

Sonny Iroche is a 2022-2023 Senior Academic Fellow at the African Studies Centre of the University of Oxford. UK
Twitter: @IrocheSonny

Let me begin with the golden words of Friedrich Gustav Emil Martin Niemöller, a German theologian and Lutheran pastor. He is best known for his opposition to the Nazi regime during the late 1930s and for his widely quoted 1946 poem: "First they came for the socialists, and I did not speak out--because I was not a socialist. Then they came for the trade unionists, and I did not speak out--because I was not a trade unionist. Then they came for the Jews, and I did not speak out--because I was not a Jew. Then they came for me--and there was no one left to speak for me."

Interestingly, Nigerians are their own problems: sociopathic, subversive, sinister, religiously intolerant, and ethnic bigots. In the recent past months, I have written extensively on the subject of "Destructive" tendencies typically characterized by strong dispositions and self-advertising drives similar to the pre-'civil war' era in the sixties in Nigeria. Fast-forward to the pre and post 2023 general elections - it has been hell let loose. The concerns about the Justices presiding over the Presidential Election Petition Court (PEPC) and the Independent National Electoral Commission (INEC) having been under siege, unwarranted attack, intimidation, and harassment in recent past weeks.

Before going further, let me share with us the profound words of Chinua Achebe, a Nigerian novelist, poet, and critic who is regarded as a central figure of modern African literature. "Things Fall Apart" (1958), Achebe’s first novel, concerns traditional Igbo life at the time of the advent of missionaries and colonial government in his homeland. His principal character cannot accept the new order, even though the old one has already collapsed. In the sequel No Longer at Ease (1960) he portrayed a newly appointed civil servant, recently returned from university study in England, who is unable to sustain the moral values he believes to be correct in the face of the obligations and temptations of his new position. Reflecting on our situation and circumstances 'THINGS' have fallen apart.

First, we overlook evil, Then we permit evil. Then we legalize evil. Then we promote evil. Then we celebrate evil. Then we persecute those who still have the boldness to call it evil. Let me be very clear when the foundation of where we are today as a nation was laid, 'block by block' by former President Olusegun Obasanjo who championed and institutionalized election rigging, particularly the 2007 general elections. Obj commissioned a certain Prof Maurice Mmaduakolam Iwu, who conducted a shambolic election, the worst election in modern era. Then, it was ok! It presupposed that there was nothing wrong as long as the "Headless mob" are not offended by the outcome of the fraud. One would have expected to see the same reactions that is currently deployed at the time that the foundation was laid.

It is against this backdrop, that I begin to reflect on the post-election activities of some disgruntled elements pushing for change through unorthodox means. Firstly, it was the balkanisation of our cherished Institutions. For example the Joint Admissions and Matriculation Board, JAMB, and Mmesoma Ejikeme, but for the confession of the young lady the mob hiding behind ethnicity and religion are up on arms against JAMB on account of their biases; hypocrisy, extremism, and exuberance without corresponding wisdom. Sadly, the flip side of this is to infer that all our institutions are not worthy of the trust of our citizens. In the recent past few weeks, the same measure of incongruous has visited the Judiciary and other establishments like INEC.

These folks are brainwashed religionists and so-called extremists described by Prof Chukwuma Soludo as a "Headless mob" They're a conglomerate of "Educated" guys and gals, the only thing they lacked excessively is a political permutation. No politically savvy team will think the same line without anyone of them assuming or presuming what can their movement bring that's unwanted. I once told one of them who takes pleasure in regaling the opinions and wishes of their groups; I made it emphatically clear... (I have nothing against your perception, you own it and it is your right. However, I stand firmly on my conviction that you can't destroy state Institutions on the basis of unfounded allegations) Justice shall be done regardless of any blackmail. It was after the usual tough talk about the consequences of overrated self-delusions of judgement that must reflect their own wishes. Nevertheless, as a people, we are more concerned about Nation-building not massaging anybody's ego.

Granted that Nigeria is a very religious country and it is run by 'men of God' and Imams or prophets who encourage their congregation to practice religious rituals. An average church in Nigeria will most likely ask you to keep praying for a change instead of working for it. The value system of the country is MIRACLE instead of PRINCIPALS, PROCESSES, and PROCEDURES. Ironically, the same set of our later-day progenitors of good governance who were romancing the power that be then, just suddenly wake up to the reality of having been part of enablers of evil. The truth is that hypocrisy has completely debased our natural sense of judgement and good reasoning.

Thankfully, Prof Wole Soyinka, a 1986 Nobel Prize in Literature, succinctly captured their mood, WS posited: "...that makes them all the more noxious, for they hide behind some phony moral force. Kongi warned of populist symbolism as crass opportunism, which could set voters on a joy ride to nowhere, and ultimately end in tears." More relatively, Anyone who is too extreme and unbending in a stance be it politics, religion or any other is too biased and blinded by their beliefs to see reasons in others. This is part of the warnings and cautions that was completely ignore by those who are wishing for the impossible. IT IS TIME FOR HEALING, LET US REBUILD OUR NATION.

Richard Odusanya is a Mind Restructuring Enthusiast.

At the meeting of the National Economic Council presided over by Vice President Kashim Shettima, the issue of palliatives to mitigate the current economic hardship in the country was discussed. In the communique issued after the meeting, it was agreed that the social register used for cash transfer by the Buhari administration would be subjected to integrity test by the State Governors. Other policy measures agreed upon include reduction in the cost of governance at Federal and sub-national levels; upward review of salaries of workers; release of essential food items by the National Emergency Management Agency (NEMA); cash award for civil servants; energy transition plan from the use of fuel to gas for mass transportation as well as provision of agricultural inputs for farmers to boost food production
in the country.

However, one very vital palliative which is missing in the communique is the issue of privatization of moribund Nigerian National Petroleum Company's refineries to stimulate local production of fuel. This is the real palliative to relieve the hardship caused by continuous dependence on fuel importation. It seems that collective amnesia is a major challenge confronting the country. The truth of the matter is that the pump price of fuel will continue to rise as long as the country depends on fuel importation for domestic consumption. Fuel importation is subject to the exchange rate of the Naira which is volatile. At present, the Naira has become a very weak currency as a result of official devaluation by the Central Bank of Nigeria and the vagaries of so-called "market forces".

For the past three decades, Nigeria has been importing fuel while the local refineries remain wasting assets. This is despite abundant crude oil reserves. It is indeed a national shame and huge embarrassment that Nigeria is unable to refine a litre of fuel. It is obvious that the NNPC is incapable of running the local refineries efficiently and optimally. Huge amount of resources have been spent on "Turn Around Maintenance" without tangible result.

Another fundamental issue which requires urgent attention is the nefarious activities of currency speculators. The situation in the foreign exchange market is largely determined by the so-called black or parallel marketoperators who operate as a cartel and hold the country to ransom. There is a lot of distortion, manipulation and sabotage in the determination of the real value of the Naira relative to foreign currencies due to racketeering.

There is no way the Central Bank of Nigeria (CBN) can compete with the black market operators in determining the exchange rate of the Naira. The Naira will continue to fall while the citizens are the victims of economic exploitation. Millions of people are swimming in the ocean of poverty.

In Nigeria today, poverty walks on four legs. The people can no longer breathe due to economic suffocation. Nigeria's economy is largely import-dependent and monolithic as the major source of foreign exchange is crude oil. The primary motive of currency speculators is maximization of profit at the detriment of the macro-economy. In order to sanitize the foreign exchange market and curb the activities of economic saboteurs, only the commercial banks should be allowed to operate as foreign exchange dealers under the proper supervision of the CBN. This policy recommendation will go a long way to stabilize the exchange rate of the Naira. It is very dangerous and counter-productive to leave the economy and the fate of millions of Nigerians in the hands of foreign exchange speculators and racketeers.

*Afolabi Faramade is Programme Director and Editor-in-Chief of Journalists Against Poverty. ( Twitter. com//@JournalistsAga3)