Category: Local

The presidency continues to insist that its bold reforms are visible, but many Nigerians are asking why the poor are not reaping the benefits of President Bola Tinubu’s policies after two years in office. Tinubu’s administration has consistently described its policies as “bold reforms” aimed at stabilizing and rebuilding the economy. These include the removal of fuel subsidy, the unification of the foreign exchange market, tax and revenue reforms, fiscal discipline, debt management initiatives, and an emphasis on promoting investment and infrastructure. However, the benefits of these measures have not been felt by poor and working-class Nigerians for several reasons. First, many of Tinubu’s economic policies, especially the fuel subsidy removal and foreign exchange liberalization, were expected to cause short-term hardship before producing long-term gains. Unfortunately, after two years, inflation remains above 30 percent, food prices are even higher, and wages have not kept up. The so-called long-term benefits are still out of reach for millions living in poverty. Another major issue is the weakness of social safety nets. Although the government announced cash transfer and palliative programs to cushion the effect of reforms, implementation has been inconsistent and often poorly targeted. Many vulnerable Nigerians, for whom these policies were meant to provide relief, have not received any meaningful support. Without a strong social welfare system, the reforms appear more punitive than protective. The instability of the naira has also worsened living conditions. The currency devaluation, which was intended to attract foreign investment and unify exchange rates, has instead caused a surge in import costs. This has eroded the purchasing power of households, as businesses transfer higher costs to consumers. Moreover, the expected boost in productivity has not materialized. Local industries continue to struggle with power shortages, expensive imports, and high borrowing rates. Without significant growth in the productive sectors of the economy, the reforms have not translated into job creation or improved living standards. Public trust has also been undermined by perceptions of corruption and waste in government. Many citizens believe that the savings from subsidy removal and other reforms have not been properly managed or transparently utilized. Lavish spending by government officials amid widespread hardship only fuels disillusionment and anger among the populace. Even when reforms are well-intentioned, structural change takes time. Economic recovery, job creation, and investor confidence cannot happen overnight. But the lack of visible progress and accountability has made Nigerians increasingly skeptical and impatient. In the end, while the Tinubu administration’s reforms may appear visible on paper and in official reports, they have not yet brought relief to ordinary Nigerians. Prices remain high, incomes are stagnant, and inequality continues to deepen. Until the government channels the gains of its reforms into tangible improvements — such as affordable food, jobs, stable power, and accessible healthcare — most Nigerians will continue to see the reforms as promises without progress.