Nigeria under cost of living pressure: 8 essential reads on rising tensions

In recent times, Nigeria, Africa’s largest democracy, has been under intense pressure.

Assailed by rising inflation, food insecurity and the rising cost of fuel and energy, Nigerians have had to endure diminished purchasing power, hunger and youth unrest.

These factors have led to agitations by various segments of society, including demands for higher wages by government workers.

At The Conversation Africa, we have been working with academic experts to gain insights into the issues troubling Nigeria and Nigerians. Here are eight essential reads that we have published on the developments in Nigeria.

Fuel subsidy removed

In one of his first official acts as Nigeria’s president, Bola Tinubu announced the complete removal of fuel subsidies. It shouldn’t have come as a surprise, as all leading candidates in the presidential election had promised to end what was considered a major drain on the country’s resources. But as Stephen Onyeiwu explains, the devil in this instance might be in the approach.

Workers demand more

With fuel subsidies gone and inflation biting hard, the Nigerian workers’ union naturally demanded higher wages. This led to tension and strike action. The Nigerian government ultimately increased the national minimum wage to N70,000 naira (US$42.14) a month. Stephen Onyeiwu argues that this was not going to solve any problem for the Nigerian worker.

Inflation defies global logic

The Nigerian government continues to try different approaches to solve the problem of rising inflation and its impact on the purchasing power of citizens. Curiously, some strategies that worked in other parts of the world appear to have failed in Nigeria. Stephen Onyeiwu outlines how Nigeria’s inflation is a product of multiple factors.

Government declares a state of emergency

As food price increases continued – and an estimated 25 million people faced hunger – President Bola Tinubu declared a state of emergency on food insecurity. Stephen Onyeiwu expressed doubts about the efficacy of this approach, arguing that Nigeria’s food inflation requires a bold and well articulated strategy to transform agriculture and rural life.

Hunger ravages children

In the midst of rising fuel costs, food inflation and food insecurity, Nigerian children are experiencing severe food poverty. Unicef, the UN agency for children, reported that 11 million Nigerian children were affected. Blessing Akombi-Inyang warns that affected children are at risk of stunted growth and development, increased susceptibility to diseases and higher mortality rates.

Deflecting attention

Confronted with economic challenges, the Nigerian government had a moment to spare for changing the country’s national anthem. The government decided to replace an anthem it adopted in 1978 with an old one that was originally adopted for official use in 1960. The bill was rushed through the National Assembly in a few days. Samuel Oyewole thinks this was nothing but an attempt to deflect attention from the real issues.

Corruption is the real culprit

Nigeria may be Africa’s largest democracy, but that is simply in population size. In terms of the real values of democracy, including good governance, Nigeria appears to be lagging. Fidelis Allen chalks this down to corruption and lack of welfare policies.

Nigeria’s young population offers potential

Nigeria’s population was estimated to be around 206 million in 2020. The country is easily the most populous in Africa. And it has one of the largest youth populations in the world. With a median age of 18.1 years, 70% of Nigeria’s people are under 30 and 42% are under 15. Akanni Ibukun Akinyemi and Jacob Wale Mobolaji write that – if well managed – the size and youthfulness of the population offer great potential to expand Nigeria’s capacity as the regional economic hub of Africa. But a large population of young people with limited opportunities is an additional social pressure.