By Ayomide Otitoju
Disillusioned Nigerian citizens, facing economic hardship due to President Bola Ahmed Tinubu’s contentious economic policies and the removal of fuel subsidies, are preparing for a hunger protest from August 1st to 10th. This impending protest raises pressing questions: Can President Tinubu manage the crisis, having been forewarned of its potential impact? Will he address the nation’s discontent with strategic politicking and empathy? The answers remain uncertain.
Nigeria’s economic troubles predate Tinubu’s presidency, rooted in longstanding issues. The country’s dependence on oil exports makes it vulnerable to global oil price fluctuations. Widespread corruption has stunted economic growth, discouraged investment, and eroded institutional trust. Poor infrastructure, including inadequate roads, power supply, and transportation, hampers economic activity and increases costs. Security challenges, such as those posed by Boko Haram and banditry, disrupt economic activities, discourage investment, and lead to humanitarian crises.
Political instability has created an unfavorable business environment, and the lack of economic diversification leaves the economy susceptible to external shocks. Persistent high inflation has eroded purchasing power, reducing the standard of living. High unemployment rates, particularly among youth, have contributed to social unrest and economic stagnation. Dependence on imported goods has resulted in a significant trade deficit and depleted foreign exchange reserves. Climate-related shocks, such as droughts and floods, have impacted agricultural productivity and food security. Weak institutions, including the judiciary and regulatory bodies, have hindered economic growth and development. Finally, rapid population growth and urbanization have put immense pressure on decaying infrastructure, services, and resources.
Despite inheriting these challenges, many perceive President Tinubu’s actions as exacerbating the situation. Critics argue that his economic policies have further destabilized the nation’s economy. Senator Ali Ndume has suggested that Tinubu’s advisors may be clouding his judgment, preventing effective problem-solving.
In addition to foundational economic crises, Tinubu’s administration has been accused of inflaming ethnic tensions and deflecting blame, further fueling the call for a nationwide hunger protest. Whether his administration can survive this impending unrest remains uncertain. Many believe that Tinubu’s perceived lack of empathy and combative approach indicate that his government may struggle to navigate the coming turmoil.
Tinubu’s determination to govern Nigeria at all costs has been a defining feature of his political career. As the nation braces for the upcoming protests, the president faces a critical test of his leadership and his ability to steer the country through these turbulent times.
