State of the nation: Lonely at the top, groaning at the grassroots

Nigeria, known as the “Giant of Africa,” is a nation with immense potential and resources. However, despite its vast wealth, the country is grappling with numerous challenges that have created a stark contrast between those in power and the common citizens.

At the helm of Nigeria’s political leadership, there is often a sense of isolation and disconnection from the everyday realities of the citizens. The top echelons of power are often preoccupied with political intrigues, power struggles, and personal interests, leading to a disconnect from the needs and aspirations of the people. The decision-making process is often influenced by personal gain rather than the collective welfare, leaving the citizens feeling unheard and neglected.

One of the significant challenges plaguing Nigeria is corruption, which further exacerbates the gap between the top and the grassroots. Corruption has deeply permeated various sectors and hindered development and progress. The elite few amass wealth through embezzlement and kickbacks, while the majority struggle to make ends meet. This unequal distribution of resources has resulted in a wide wealth gap, with a small percentage of the population controlling the nation’s wealth.

The increase in fuel prices resulting from subsidy removal has contributed to inflationary pressures in the economy, where the transportation costs rise, this has led to increase in expenses by consumers, leading to higher prices for goods and services. This, in turn, reduces the purchasing power of Nigerians and further increases their cost of living. The removal of subsidy has particularly affected households that heavily rely on electricity for lighting, cooking, and other essential needs.

The increase in transportation costs and production expenses resulting from subsidy removal has led to higher prices for basic commodities which include food items, household goods, and other essential products. As businesses face higher costs, they have passed on these costs to consumers, further straining their budgets and increasing the cost of living.

There is also the increase in the cost of construction and building materials. The increased costs have been passed on to tenants resulting in higher rent prices. This can put additional financial pressure on Nigerians who already struggle with affordable housing options.

The government’s social safety nets or targeted support programmes to alleviate the burden on vulnerable populations and mitigate the potential negative effects on the cost of living has not yielded desirable effect as groaning continues in the land.

The dollar issue has also affected government revenue; Nigeria is a major exporter of oil, and oil revenues are primarily earned in dollars.

When there is instability in the availability of dollars, some individuals and businesses may resort to capital flight. Capital flight refers to the movement of funds from one country to another in search of more stable currencies or investment opportunities. This has negative impact on the Nigerian economy, as it reduces the availability of funds for domestic investment, hampers economic development, and exacerbates the dollar scarcity issue.

It is important for the Nigerian government to implement policies and measures to address the dollar issue, promote stability in the foreign exchange market, and attract foreign investment. This may include diversification of the economy, promoting non-oil exports, improving forex liquidity and implementing effective monetary and fiscal policies.

Nigeria’s infrastructure is also in dire need of improvement. Basic amenities such as roads, electricity, water supply, and healthcare facilities are often lacking or in a state of disrepair. While the top leaders may enjoy the privileges of modern infrastructure, the majority of Nigerians endure a daily struggle to access essential services. The lack of adequate infrastructure impedes economic growth, hampers productivity, and further marginalises the grassroots.

Unemployment remains a significant challenge in Nigeria, particularly for the youth. The lack of job opportunities forces many talented individuals into a state of despair and hopelessness. This, coupled with the high poverty rate, creates an environment where the grassroots struggle to meet their basic needs. The lack of economic opportunities perpetuates a cycle of poverty and contributes to social unrest.

Nigeria grapples with various security challenges, including insurgency, banditry, and communal clashes. These security threats have further deepened the divide between the top and the grassroots. The elite often enjoys the protection of security forces, while the common citizens bear the brunt of violence and insecurity. Additionally, ethnic tensions and conflicts further exacerbate the sense of disunity and hinder the nation’s progress.

It is imperative for the government to prioritise inclusive governance, tackle corruption, invest in infrastructure, promote job creation and address security concerns to bridge the gap and create a more equitable society. Only through collective efforts can Nigeria scale through these hurdles and unlock its true potential as the “Giant of Africa.”

Saintabey is a socio-philosopher, author, reformer, coach and public policy expert.