…Nigerians award more red marks than blue
…Worsening cost-of-living crisis, insecurity top areas of concern
Three years ago, when President Bola Ahmed Tinubu stood before Nigerians and declared that fuel subsidy was gone, he effectively set the tone for what would become one of the most consequential and controversial presidencies in the country’s democratic history.
The decision, taken on his first day in office on May 29, 2023, was presented as the beginning of a painful but necessary journey to rescue an economy weighed down by distortions, mounting debts and declining investor confidence. It was a bold gamble. Three years later, as Tinubu marks the penultimate of his first term, Nigerians are still debating whether the pain has been worth the promise.
The verdict from many citizens is mixed, but one theme dominates the conversation: while the government may have improved some macroeconomic indicators, the average Nigerian continues to struggle with a worsening cost-of-living crisis.
In what has become a recurring assessment of the administration, many observers argue that Tinubu has done more for Nigeria’s economic books than for the people whose lives those numbers are supposed to improve.
The numbers tell two stories
The figures tell a story of dramatic change. When Tinubu assumed office, petrol sold for around N200 per litre. Today, the price is above N1,300 in many parts of the country. The naira, which exchanged for about N450 to the dollar at the official market and roughly N750 at the parallel market in May 2023, now
This post was originally published on this site.
