Topic: Nigeria and the Current State of its Economy (Read 301 times)

Those in power don't care if war breaks out they have enough to travel out of the country and even stay there permanently if they want, Nigeria generates a lot of wealth from the resources in the country but it's very ironic that with all those wealth we are still in debt, it makes you wonder what they are really using those money for. Every politician keeps embezzling funds that they their generation can't even exhaust, Nigerian politicians are the most greediest in the world, they don't care about if the masses are suffering, as long as this continues Nigeria can't move forward

It's quite disheartening that the protest which lasted more than five days was all in vain because the citizens are still struggling. With the economic melt down and inflation in Nigeria increasing the minimum wage isn't the solution to our problems, if the minimum wage is increased and the prices of food and every other thing is extremely high then no significant change was made. Our leaders are the problem very true but most of our youths have their head in the wrong place, it's time for everyone to wake up and be actively involved in making this country great because change starts with each and every one of us.

Did you think that protest can end this hardship of our country? For me I don't think it can end it because if you look at this our country so even those who will help the people to protest have been bribe with money that they can't say anything, and when those who will help the people don't say anything that means the citizen don't have power, if you take look at the last protest they did you will see that there are some people who are protesting against the protest that they want to do, that show that the government have close the mouth of the people that can speak in public and help the others.

After the protest the government have made like two speesh and he doesn't mention anything about doing the right thing which means that the government don't care about the people, let be honest this our country will later end up a country where we are killing each other just to have money to eat, our leaders don't care and I believe that even if they did the next protest nothing is going to change because even if the people decide to do it in a tough way it will lead to the people dying because the government will give the force order to shoot anyone that don't want to back off.

You see this current government, they are one of the most useless and dishonest governments we have ever had. I don't know how to even rate their performance but I will tell you for free they are the worst in the history of our nation. The campaign promises the 3 candidate made was to remove fuel subsidy and channel that waste money into education and infrastructure but in the end, Tinubu removed subsidy on his swearing day and went back to pay subsidy, that's a dishonest thing to do.

The only thing a common person enjoy from this country is subsidy which is from the same oil and since it was removed, price of fuel has gone up which result in the general increase of commodities and goods, literally even the air we breethe are expensive right now in Nigeria, they removed electricity subsidy. I think it's left for the government to remove education subsidy since they are already given loans to some Nigerian students. I hope it's not too late to save this country.

I highly recommend what you have said about our current situation in our beloved country Nigeria,Since President Bola Tinubu assumed office in May 2023, Nigeria has seen significant increases in the prices of various essential goods and services, affecting the cost of living for millions
While the government argues that these increases are necessary for economic reforms and sustainability, they have undeniably contributed to the rising cost of living.
 
1.Fuel price surge
2.Electricity tariffs increase
3.Rising cooking gas prices
4.⁠Higher transportation costs

I agree with you that the government of the day has know blueprint or plans on ground to salvage the current economic situation that has befallen Nigeria, though we here the president always that the suffering will not tarry, but when we take a look at the reality, nothing show, he sure Nigerian that by December 2023 that portharcourt refinery will be fictional so that he will concentrate on other refuneries so that the problem of petroleum sector which almost all the price of everything will be solved but up till this moment we have not seen anything.

 I think that we are doomed, we have sycophants as leaders, people that are not ready for leadership but rather every ready to loot the countries treasury, it is very shameful that we are in country that has enough domestic gas reserve but still buy the commodity very expensive, sometimes it is very heartbreaking to discuss Nigeria matter because of the mental stress that comes with it.

Economic wahala fit really ginger social kasala well well. When people dey feel say dem nor dey get wetin dem need to survive and dem nor dey see any improvement for their economic matter, dem fit begin do mass protests to yan say dem need change, like wetin happen for the End SARS protests. The absence of plans to tackle unemployment and increase minimum wage fit get serious k-leg for the future of the country. Unemployment rates fit make youth lose hope and e fit block dem from fit contribute positively to society. Every problem fit get solution if government authorities and the public fit yarn well well and engage constructively to find solutions to these pressing issues.

No I no think say that kind of protest go happen for this hunger protest but wetin people go dey do na to dey hijack trucks wey carry food stuffs like we don dey see am already.

So the reason wey make me talk say we no go experience that kind protest now be say people still dey fear the experience of the killings on that protest wey army dey intentionally shoot Nigerians to death.

Another very important reason be say this time around the South South and Southeast no go follow join as dem never even put eyes for the protest till now. So the population fit no much.


Your guess dey as good as mine my brother  e get one proverb wey dem dey talk say "he who fails to plan has already planned to fail". You see, no plan for employment and na so things go dey worst if.....


Na who talk say subsidy is gone? from day one. Baba Tinubu say his name suppose dey for Guinness book of records and if dem no put him name, him go find way to put himself, funny where Nigerians are dying of hunger. Him remove subsidy without entering office, at least him for check books wey dem go bring come his office, plan wey forward if him remove subsidy before removing it. Na that bad policy of not planning first carry poverty come. This government no get solution but only palliative wey person dey only hear for news, it ends there in their office.

Of course the election is faulty, the people dey suffer and national assembly no fit update the voting system and make transmission of results only by electronic, that is through the Irav.


Of course people are suffering beyond what they have witnessed and that is why the rate of jakpa don increase. Nigeria is having brain drain like never before.

This is a different case from SARS brutality that led to the protest. People are already protesting but I don't think it will change anything at this time. As usual, they will either send security personnel after the protester or they will promise them juicy solutions that will not see the light of the day.


There's actually a plan for increasing the minimum wage because committee has been set up to discuss the way forward and come up with the favorable amount for civil servants despite that they're playing politics with the process. But will the increment improve the economy? Capital No. Currently, Nigeria is using debt to pay salaries, I don't know what will happen with the implementation if they eventually finalize the increment. The huge debts both internal and foreign is the reason we are experiencing sinking economy.


This present condition has nothing to do with the election. Whatever happens during election has happened and we should be critical when analyzing national issues. Sentiment and emotion will not allow us to arrive at the appropriate point. In the history of democracy in Nigeria, Yar'adua happen to be the best president so far within the short period of time he stayed in the office. The election that took him to that office was the most rigged election in the history of Nigeria election since the return of democracy in 1999 but that doesn't affect his performance in office. Nigerian government is at this moment confuse as the citizens. They are absolutely out of alternative.


No doubt, it has already caused harm to majority both the rich and the poor but it won't definitely continue like this. Measures are being put in place to control some of this economical crisis but some individuals or groups are sabotaging the efforts for personal gains. We really have a long way to go in this country.

The reason why this government can't even help in this current situation is because they never had any agenda,  plans on what to do for the people. Their focus has always been how to grab power , they were never prepared to come help to solve the problem of the past government that is why the problem is becoming worse. I don't think this government will be able to do anything because this is the most corrupt government which you don't need to expect much from them.

E go long before we go see anything like endsars again for this country, after the outcome of endsars wey people die and nobody dun do anything about am people dun realize say the government no rate us for this country and dem dey allowed to do anything because I no understand how person wey dem say been dey incharge of ordering the shooting later become president of the country. The endsars protect work but people lose their life and their family weren't even compensated so people go look two times before dem join that kind protest again and this na wetin the governments been want so dem fit put fear for our body.


There's no benefits of increasing the minimum wage as no be the solution to the problem be that. If minimum wage gets improved, cost of things go increase too because market merchants and others merchants wey no be government workers go wan benefit from the increase in minimum wage so that one no be solution. Make the government fix the economy of the country first na that one go solve all this problem. Make dem make all the  refinery in the country function so we no go dey buy fuel wey dey follow cause all the problems wey we dey face like this.


Suffer say you dey allow people wey dey around you oppress the public and cause an uproar, you're an incompetent leader. A leader supposed make everywhere stew for him people. People vote you there because dem trust say you go change the conditions of the people but you have failed if you no dey deliver and if na country wey dey work, you for suppose set down. Na you suppose dey watch people wey dey around you make dem no spoil wetin you dey build but the government no get anything wey dem dey build but just a confused set of person and na why the economy just dey decline everyday.

The current state of economy in this country really needs amendment. Price of commodity just keep increasing. What you buy now may become 2x of the original price at night. Is better our government work for a better Nigeria.

The last protest tagged END SARS we all saw how the government choosed to react in a rather violent with brutal force meted on the citizens through the use of the military men and many lives were lost to direct gun shots by the army on the protesters. However, this time, the course is different, any protest that would break out now is one borne out of hunger based on the hardship and high cost of living that many are unable to afford, and we all know that a hungry man is like a wounded lion that no force or act of fear can grip him.

Just today I read in the news on how some Katsina State resident intercepted one of dangote's truck and looted the foodstuffs it was carrying. Something that has never happened before, that's a sign to show us that things are really getting out of hands due to the hunger and the government aren't doing anything to ameliorates the situation it get worsen daily.
.With the significant increase in prices of goods and services by the hours not even an increment in salary or minimum wages of workers can quell the situation but only through necessary economic policies by the government looking within in solving the problems rather than looking outside for solution

In a situation like this everybody has a cause in this economic problem, we are currently facing, first of all, starting voting in people who are not capable of handling that position, and that bis why we are facing all this economy problem, and it is not as if they do not have the solution but they are selfish and wicked if not for that they won't give such amount of money to the housing assembly and people are hungry and i don't blame anybody but our selfies and labor because by now we are suppose to be seen actions now,

And we have still not seen any serious thing from them because now have light issues and in this country, we have all the issues you can think of because then coming to increase in food stuff the price are so high that a lot of people can afford it, we hope it will get better.

It will be really crazy to see something like that happen and I don't think any Nigerian would love that to happen because war is really destructive and I don't know if you have seen the scene in Palestine and Syria, you would be shocked to see how the situation is over there. Nigeria don spoil and I think our leaders sef dey enjoy am and na the reason I fit talk say no reasonable thing dey happen to actually tackle this issue. As of today the current price of a dollar to our beloved naira is 1850 and that's just fucking crazy because things and stock will be fucking high.

Sincerely speaking all is not well with our dear country, corruption and bad governance has brought the name of the country into mud. In my presence yesterday a woman slump and feited in the market due to the hardship and current economy state country, the worst part of it is that our leaders are not showing any concern regarding the current economy of the country because they have embezzled enough money that will be more than enough for there entire generation.
Believe me if something is not done now war fit come out for this country because the citizens don tire to dey complain about the present condition of the nation.

If truly this government have the heart of the citizens in their minds , I don't think this hardship will take government two months to eliminate for people to begin to live a normal life in the country by monitoring the price of the market and also looking for way to assist some industries financially so that they will not increase their price than to reduce the price for consumers to have access to more of their products.

 If the government fail to respond to some protest that happened to some states concerning the hardship few weeks ago, I guess massive protest will soon break out in the country and, it will be worse than the End SARS that moved round all over the 36 state in Nigeria.

And the government are doing nothing to ameliorate any of these challenges, i dont even see the presence of the roles some of these government agencies are playing, are they ll sleeping in their various offices without working on something tangible to lay hold on as hope for the masses even though its not realistic.


I thought we are done with the era of old leaders handling the affairs of the country ever since independence, we are not getting the new generation as leaders, maybe many of us are still yet prepared enough to learn from the past mistakes, democracy is a government kind of regime that permits the people to express themselves and not to keep quite in silent while suffering, its high time to SORO SOKE (speak out).


We just hope that this doesn't come, but there must be something done to avoid it, maybe the revolution as you have suggested, but i hope they wont do the worst than the one engaged during the #End Sars procession in Lagos Toll Gate.

According to my perception about the economy of Nigeria today, it's certain that there "might" be a revolution, according to the accounts of famine in the holy bible, it got to a time where people began to eat their children, it may not be exactly as the way it happened before but surely there will be famine that will lead to crisis. the current economic crisis is basically sponsored by high social profiles who are will to sacrifice as much funds as they can to milk Nigeria while we keep fight ourselves and killing each other.

Your predictions are not far from the truth, people might retaliate very soon when the economic impact gets to the limit which we can bear. the current increase in price is a result of our elites dealing with dollars on a daily transaction and hence keep the reserved dollars that are might to be use for importation of consumables as Nigeria is a consuming country, to themselves for some selfish reasons, hereby making dollar a scarce asset, and as we know what ever is scarce is likely to increase in price as it's hard to find with this so called zig zag hiding of dollars has increase the value of dollars in Nigeria.

Sooner than later Nigeria might end up eliminating our prominent elites for trading our resources for selfish reasons.

Even if employment opportunities are increased it doesn't really solve our problems. the problem isa rooted in the foundation of the country which is the history, telling us that we are slaves has enslaved our mentality and as such people will follow dumbly to where ever there are taking to, but the fact that we are beginning to be aware of the dangerous effect of the colonial leadership in us is probably what will lead to the revolution (change) in the country.
Although if more jobs are being created it will sure have an effect in the economy but it will not solve it all. so what we should be looking at it the very root of everything in order to stop them.

Godfatherism is a major factor of corruption in our nation, with that leaders take decisions from the upper calibers in politics hence leading thew country to a crinkum-crankum state.

This sub question here is self answerable because if you were in the country during the election you wouldn't want to hear much from others because you most have had enough experience from you location.

Normally, for every wrong decision taking by a political leader the poor masses pays dearly for it. since nothing has been done even from the Buhari regime and it has gotten worse now, so it will surely get worst if truly nothing is done this time.

The government workers and also workers generally will suffer because goods and services are increasing in price significantly.

Obviously our leaders are not competent.

What can be done when the government are not tackling the problem from the root cause?

Nigeria in West Africa was once known to be the giant of Africa, lets start by its way of politics before going straith into the economy discussions in proper, it has been a country that has no prevailance of diversity until the political era set in after the independence and the leaders could not control themselves anymore than going after their personal agenders instead of the public interest, Its now a thing of freedom for any political candidate who betray the people and the government not to face the court of law, because immunity covers them, while an average citizen may steal a loaf of bread and landed into prison.

Now lets focus on the current economy situation in proper, am such a person that doest like much of politics because of the dirty games they play in it, but if we are to look back to the era of Goodluck Jonathan to this time, we can see that alot of things have gone wrong so badly with the economy and this has nothing than the influence of the selfish political parties and their interests, inflation is now the order of the day as the people could hardly or barely afford to make ends meets on a daily basis, we all know the implication of this at the long run, there will be increasing poverty and crime rate.

Going further into the economy crisis ongoing, the government could not help in any means to put a stop into this, instead, things keep getting worse and worse everyday, currently you can see the way things are very expensive in the market due to inflation because of exchange rate due to naira devaluation, currently as at today, you can exchange naira to dollar at $1 to be #1,700 and still increasing as we speak.

I will like us to discuss broadly on any of the possible highlights i will be dropping below and give our own opinions on the about the current state of the economy.

1. Will a massive and national protest not emerge soon like that of End SARS, as the people were getting to their elastic limit on economy hardship.

2. There's no plan on increasing the employment rate and minimum wage, what will be the effect of these on the country leaders of tomorrow.

3. Are we having an incompetent leader or the people around him are the ones causing the uproar for their own benefits, we can remember this, that the truth will always prevail, any illegal achievement will not last for good, because the foundation is evil, is there nothing wrong with the last conducted election.

4. If nothing is done, we should expect the economy to keep getting worst than ever, but i doubt if its not causing a lot of innocent people already as ransom.

lets discuss.