As President Bola Ahmed Tinubu marks three years in office, he argues that Nigeria is turning a corner and is better off today than when he assumed office. He points to improvements in the stock market, growth in external reserves, fiscal reforms, and endorsements from international financial institutions as evidence of progress.
However, many Nigerians view the situation differently. While macroeconomic indicators may show signs of improvement, the daily reality for millions of citizens tells another story. Rising poverty, declining purchasing power, insecurity, unemployment, and the high cost of living continue to define life for many households. Economic statistics alone cannot adequately measure the well-being of a nation. The true test of government performance is whether the lives of ordinary citizens are improving.
The Collapse of Purchasing Power
Perhaps the most visible impact of the last three years is the dramatic decline in the purchasing power of Nigerians. Many households struggle to meet basic needs. Salaries that once sustained families are exhausted within days of being paid.
How can a Level 14 civil servant survive on approximately ₦150,000 ($115) per month? How can a minimum wage of ₦70,000 ($52) provide a decent standard of living in today’s economy? These figures raise important questions about economic priorities and the distribution of the gains from recent reforms.
Several factors have contributed to this reality:
· The abrupt removal of fuel subsidies without adequate social protections.
· The failure to adjust wages sufficiently despite significant increases in government revenues.
· Continued concerns about corruption and public accountability.
· Rising national debt despite increased government income from petroleum revenues and subsidy savings.
· Procurement processes that many believe lack transparency and disproportionately favor politically connected interests.
Persistent Insecurity
Despite substantial spending on security, insecurity remains one of Nigeria’s greatest challenges. Communities continue to experience kidnappings, banditry, terrorism, and violent attacks.
Many Nigerians question why security outcomes have not improved proportionately to government expenditures. Citizens expect a government that protects lives and property as its primary responsibility. The continued loss of innocent lives undermines confidence in public institutions and weakens national unity.
Weakening Democratic Competition
A healthy democracy requires strong institutions and a credible opposition. Concerns have been raised about the weakening of opposition parties and the increasing concentration of political power.
When opposition voices are diminished, democratic accountability suffers. Effective governance depends on robust debate, scrutiny of public policy, and meaningful checks and balances. Without these safeguards, citizens risk having fewer mechanisms through which to hold leaders accountable.
Perceptions of Financial Recklessness
At a time when many Nigerians are being asked to endure economic hardship, government spending on luxury items and high-profile projects attracts significant criticism.
Citizens expect public officials to demonstrate restraint during periods of national sacrifice. Visible displays of government spending can appear disconnected from the realities facing ordinary Nigerians struggling with inflation, unemployment, and rising living costs.
The Politics of Crumbs
The administration frequently points to improved financial indicators, increased investor confidence, and a more stable currency as evidence that its policies are succeeding. While these developments may be important, many Nigerians feel excluded from their benefits.
The fundamental questions remain:
· Where are the tangible benefits of subsidy removal?
· Why are living standards declining despite increased government revenues?
· Why do insecurity and unemployment remain widespread?
· Why do many citizens feel disconnected from the economic gains being celebrated?
For many Nigerians, the current moment represents what may be described as a “politics of crumbs”—a system in which a small segment of society benefits from economic progress while the majority struggle to experience meaningful improvement in their daily lives.
Looking Toward 2027
Ultimately, democratic accountability rests with the people. Elections provide citizens with an opportunity to evaluate the performance of their leaders and determine the direction they want for their country.
As Nigeria approaches the 2027 elections, voters will assess not only economic indicators but also their lived experiences. They will judge whether they feel safer, more prosperous, and more optimistic about the future than they did in 2023.
Nigeria possesses immense human and natural resources. Its people have demonstrated resilience, innovation, and determination despite significant challenges. The question before the nation is whether its leadership can translate that potential into broad-based prosperity and national development.
In a democracy, the ultimate authority belongs to the people. One citizen, one vote. That principle remains the strongest instrument of accountability and the foundation upon which Nigeria’s future must be built.
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