Opinion: Does Nigeria Have a Future?

 

By Usman Toheeb 

Unarguably, Nigerians are deeply unhappy with the current state of the economy. The distress caused by economic hardship is being voiced through protests, the most pivotal tool for expressing the people's grievances. As planned earlier, August 1 was set aside for the beginning of a nationwide protest tagged "END BAD GOVERNANCE." This protest, sparked by policies from the Tinubu-led administration, has become a major topic of discussion across the country. 

Within the environs of the University of Ibadan, protests began at Sango with a gathering of over 200 people carrying placards expressing their dissatisfaction with the state of the economy. Among them were individuals bitterly recounting their struggles to afford basic necessities like food. A tricycle driver lamented the massive increase in the price of tricycles, which had risen from ₦1,650,000 to ₦5,000,000 in just two years. Students from the Polytechnic of Ibadan expressed their distress over the skyrocketing prices of foodstuffs, some nearly in tears, while University of Ibadan students were also vocal in their discontent. 

In 2023, nearly 12 percent of the world’s population living in extreme poverty resided in Nigeria, where the poverty threshold is set at $1.90 per day. This equates to about ₦2,850, the minimum amount needed to avoid being considered poor on any given day. According to World Bank projections, approximately 40.7 percent of Nigerians are expected to live below the international poverty line by the end of 2024. Furthermore, 63 percent of people in Nigeria, or about 133 million individuals, are considered multidimensionally poor, experiencing severe deprivation in various aspects of their lives. The Northern region is home to an estimated 86 million (65%) of these people, while the Southern region accounts for 47 million (35%). 

A country’s future is heavily tied to its economic prosperity, yet this is not the case in our beloved nation. While advanced countries are projecting decades ahead, fueled by technological advancements, Nigeria seems to be stuck in reverse. Our potential as a global oil supplier is undercut by the fierce competition in the industry. As a result, our future appears uncertain, and those living in extreme poverty suffer the most. 

The correlation between poverty and crime is undeniable. In nations with higher poverty rates, the crime rate tends to be significantly higher. As a popular African adage says, “An angry man is a hungry man.” Hungry people are more likely to engage in criminal activities. The cycle of poverty breeds more criminals, creating additional barriers to national growth. Until we effectively address the issue of poverty, it will be difficult to say that our nation has a future. 

The legal way for Nigerians to express their dissatisfaction is through peaceful protest. The recent demonstrations reflect the growing frustration and despair of the people. It is a call to action for the government to address the root causes of these grievances and take meaningful steps towards ensuring a brighter future for Nigeria.