Nigeria’s Economic Uncertainty: Tinubu’s Promises versus Reality One Year On

Despite President Tinubu’s efforts to bring stability and clarity to Nigeria, many citizens still feel that their lives have been negatively impacted since his election a year ago. Motunrayo Adaramaja, a roadside trader in Lagos, speaks openly about her struggles with stagnant business due to high market prices that discourage customers. While Tinubu quickly assembled a cabinet and presented an economic plan early on, some critics argue that this approach is a departure from the way things were done under his predecessor.

According to Matthew Page from Chatham House, Tinubu and his team have made some improvements to the economic and security situation in Nigeria. For example, oil production has increased significantly in recent months, reaching its highest level in years. Additionally, the Dangote Refinery is expected to help reduce Nigeria’s dependence on imported oil products. However, Page believes that Tinubu is simply managing the country less poorly than Buhari did before him, and there is still much work to be done.

Despite some efforts to attract foreign investors, Tinubu has faced criticism for maintaining structures of corruption that hinder Nigeria’s progress. Ayisha Osori argues that certain decisions made by Tinubu seem to prioritize re-election in 2027 over the long-term welfare of the country. For example, subsidies for pilgrimages may be seen as unnecessary spending that could harm Nigeria’s economic stability in the long run. Overall, while some progress has been made under Tinubu’s leadership, there is still much work to be done in order to ensure a brighter future for Nigeria’s people.