By
Hon. Ojortumale
As we step into 2025, the challenges are mounting, and the so-called Renewed Hope Agenda appears to be nothing more than an illusion. In less than two years, Nigerians have faced deteriorating economic conditions, rising insecurity, and policies that exacerbate hardship instead of easing it. Let’s take a closer look at the so-called advancements and uncover the harsh reality.
1. Inflation Remains Out of Control
Despite assertions of monetary reforms, inflation continues to rise, diminishing Nigerians’ purchasing power. The floating of the naira has resulted in extreme volatility, making imports pricier and driving the cost of living through the roof. Instead of stabilizing the economy, the foreign exchange policy has sparked speculation, benefiting only a select few.
2. Fuel Subsidy Removal Has Crushed the Poor
The elimination of fuel subsidies, without any protective measures, has led to a tripling of fuel prices. Transportation costs have skyrocketed, food prices have surged, and businesses are grappling with increased operational costs. While the government claims to have saved funds, ordinary Nigerians are suffering, with no noticeable improvement in public services.
3. Food Prices Are at an All-Time High
The touted agricultural reforms have done little to alleviate food inflation. Farmers continue to face insecurity, high production costs, and inadequate infrastructure. Instead of boosting food supply, Nigerians are confronted with unprecedented prices for essential items like rice, yam, and garri, making daily survival increasingly difficult. _Gari na big man food now ooo!_
4. Nigeria’s Electricity Crisis Persists
Despite ambitious claims regarding the Mission 300 project, Nigerians still endure erratic power supply. The power grid has collapsed multiple times under this administration, forcing businesses to rely on costly diesel. The promise of nationwide electrification remains elusive, with no significant improvements in power generation or distribution.
5. Business Environment is Hostile
Contrary to claims of a thriving business climate, many entrepreneurs are struggling to navigate a landscape filled with challenges.
I will complete it 12 when I return from church. Happy Sunday.
