Two Years Under Tinubu: Nigerians Grapple with Economic Hardship and Insecurity

As President Bola Tinubu’s administration marks its second anniversary, a significant portion of Nigerians express deep dissatisfaction, citing increased poverty, hunger, and insecurity since his inauguration on May 29, 2023.

Mounting Economic Struggles

The removal of fuel subsidies and the unification of exchange rates were among the administration’s bold economic reforms. However, these measures have led to a sharp increase in the cost of living, with many Nigerians struggling to afford basic necessities. Inflation has soared, and the naira’s depreciation has further eroded purchasing power.

Voices from the Nation

• Prof. Benjamin Okaba, President of the Ijaw National Congress, remarked: “The naira’s depreciation, spiraling inflation, and high energy and food costs have eroded the purchasing power of the average Nigerian citizen.”
• Dr. Alaye Theophilus, President of the Ijaw Youth Council, stated: “All the policies of the Tinubu government are anti-people… People are passing through hell daily.”
• Mr. Blessing Adima, a political activist, commented: “Everything has gone from bad to worse… They have borrowed more money than before despite the removal of the fuel subsidy.”
• Regina, a civil servant, questioned: “Where is the gain from subsidy removal going to?”
• Elder Joseph Ambakederimo, convener of the South-South Reawakening Group, noted: “The reforms are excruciating, but we are also seeing a silver lining… increased revenue flowing into the coffers of the three tiers of government.”

Government’s Perspective

Despite widespread criticism, the presidency maintains that the reforms are yielding positive results. President Tinubu has highlighted improvements in government revenue and a reduced fiscal deficit. He asserts that these measures are necessary sacrifices for long-term gain.

It’s Too Early to Judge, But Reforms Come at a Social Cost — Ogunsuyi

Public analyst and former Ekiti State Commissioner for Information and Civic Orientation, Mr. Lanre Ogunsuyi, opined that assessing President Bola Tinubu’s administration after just two years may be premature. According to him, Tinubu’s government has enacted significant economic reforms, notably the removal of fuel subsidies and the unification of foreign exchange rates. These efforts, he argued, are geared towards economic stabilization.

However, Ogunsuyi noted that while some macroeconomic indicators may show promise, the cost of these reforms has deeply affected ordinary Nigerians. Rising inflation—peaking at 34.71% in April 2025—has significantly eroded purchasing power. The naira’s sharp devaluation, from ₦460.70 to ₦1,579.40 per dollar, has further compounded hardship.

He lamented that critical issues like insurgency and insecurity remain unresolved. Moreover, institutions like the National Assembly, he said, have failed to impact communities meaningfully, despite budgetary allocations for constituency projects. Ogunsuyi urged the government to urgently address issues such as the high cost of living, insecurity, and institutional inefficiencies.

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Focus Next Two Years on the Poor — Sunday Akere

Sunday Akere, former Osun State Commissioner for Information, noted that while President Tinubu’s policies are laying a foundation for economic recovery, they have disproportionately burdened the poor. He acknowledged the return of investor confidence but insisted the government must now pivot to social welfare.

Akere emphasized the need to lower food prices and tackle insecurity, particularly to encourage farmers to return to their lands safely. He also stressed the importance of improving power generation and distribution to boost the economy and reduce reliance on fuel.

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Governance Must Take Priority Over Politics — Moruf Balogun

Moruf Balogun, former Vice Chairman of the Nigerian Bar Association in Ijebu Ode, Ogun State, criticized the administration for prioritizing politics over governance. He expressed disappointment over the federal government’s failure to implement the 2024 Supreme Court ruling granting financial autonomy to local governments.

On health and security, Balogun painted a grim picture: hospitals have become death traps, healthcare professionals have lost faith in the system, and citizens face daily threats from criminal violence. He warned that persistent hunger and hardship are fueling social unrest. He urged the President to “stop chasing shadows” and focus on governance, stressing that the administration must deliver meaningful change before 2027.

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Job Creation Is Essential — Comrade Wasiu

Ashaye Wasiu, Chairman of United Action for Democracy (UAD) in Ogun State, believes democracy in Nigeria remains fragile even after decades. He criticized the Tinubu administration for running what he described as an unpopular government that neglects the poor and small-scale traders.

Wasiu urged the President to focus on job creation and expand economic opportunities. He highlighted the importance of tackling insecurity and improving access to essential services like healthcare and education, which he said are currently in dire condition.

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Voices from the Streets: Citizens Share Their Experiences

Adeola Adedoja (32, Teacher):
“Life has become harder. The cost of living has surged, and salaries can’t keep up. The government needs to stabilize prices and create employment.”

Chike Ogbogu (45, Business Owner):
“Infrastructure has improved slightly, but more needs to be done. Small businesses need better access to funding and friendlier policies.”

Fatima Adedeji (28, Student):
“Education is still underfunded. Many students are struggling to pay tuition. We need more youth-focused investments.”

Emeka Oneforume (60, Retiree):
“While two years is short, I hope to see more efforts in social services. Healthcare and pension reforms are urgently needed.”

Nneka Philip (37, Nurse):
“There’s room for improvement, but funding and resources in hospitals must increase for any real change.”

Jide Ojolowo (50, Civil Servant):
“The security crisis is worsening. People live in fear. Community policing and intelligence must be prioritized.”

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Not Beyond Redemption — Anthony Sani

Former ACF Secretary General Anthony Sani likened Nigeria’s situation to animals hibernating for survival. He urged Nigerians to be patient, suggesting that the pain of reform might be temporary. Sani advocated for using savings from fuel subsidy removal to improve human capital through investments in health and education, arguing that ignorance and poverty are major contributors to insecurity.

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Power Sector Must Be a Priority — Hajiya Indo Aliyu

Kaduna-based trader, Hajiya Indo Aliyu, expressed frustration over the collapse of the national power grid and rising tariffs. She urged the federal government to fix the power sector, stating that a reliable electricity supply could significantly ease daily life, especially in northern Nigeria.

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Prices of Goods Should Be Addressed — Ali Muhammad

Local farmer Ali Muhammad from Birnin Gwari in Kaduna noted a return to peace in his region due to a local pact with bandits. However, he called on the federal government to urgently intervene in reducing the cost of goods, which remain unaffordable for most people.

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My Business Collapsed Due to Reforms — James Aba

James Aba, a former business owner in Akure, recounted how the fuel subsidy removal and electricity tariff hike forced him to close his shop. Unable to keep up with rent and salaries, he relocated to Benue to start afresh. He appealed for a reversal of electricity tariffs and a reduction in petrol prices.

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Earning More, Affording Less — Nyiakula Ager

Entrepreneur Nyiakula Ager said although his income rose from ₦200,000 to just over ₦300,000, he can now afford less than before. He called for a dramatic drop in the exchange rate to restore the value of the naira and economic stability.

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No Demand for Clothes Anymore — Janet Iger

Janet Iger, a clothing trader, said her sales have plummeted because people prioritize food over fashion. She noted that families are focused on survival and expressed disappointment in the current state of the economy.

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Tinubu Better Than Past Administration — Hon. Linus Umoh

Former lawmaker Hon. Linus Umoh defended President Tinubu’s leadership, claiming it is an improvement over the previous administration. He acknowledged the hardships caused by subsidy removal but praised efforts to stabilize fuel availability and exchange rates. He insisted that current policies have a long-term goal of economic recovery.

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Final Thoughts

The general consensus from analysts, citizens, and civil society groups is that while President Tinubu’s administration has taken bold economic steps, the social and economic burdens on ordinary Nigerians have been severe. Moving forward, the next two years will be crucial in determining whether these reforms translate into meaningful, inclusive development.