There has never been a more critical time for Nigeria to address the vulnerabilities of its future. Present-day Nigeria is burdened by a troubling mix of economic distress, rising insecurity, fatigue in governance, and a disheartened youth demographic yearning for chances. The indications are not only concerning but downright alarming.
According to recent data from the National Bureau of Statistics (NBS), Nigeria’s GDP experienced a growth of 3.46 percent in Q2’2024, partly fueled by sectors such as services and agriculture. However, inflation continues to be a significant issue for the nation. As of October 2024, the overall inflation rate reached 31.5 percent, while food inflation exceeded 40 percent, marking the highest rates in two decades. These statistics do more than indicate economic strain; they illustrate family despair. They reflect scenarios where households reduce meal portions, businesses fold, and young citizens emigrate in droves.
Insecurity poses the most destabilizing threat to Nigeria’s stability. Reports indicate that over 8,500 Nigerians lost their lives to violent incidents from January 2023 to October 2024, including banditry, terrorism, community conflicts, and kidnapping for ransom. The Kaduna-Abuja corridor, several regions of Zamfara, Katsina, Niger State, and sections of the Middle Belt continue to suffer immensely. The vicious kidnapping of students in Kuriga (Kaduna) and ongoing mass abductions in Borno, Taraba, Niger, and Plateau highlight a nation struggling to maintain control over its territory.
While President Bola Tinubu’s administration claims that security measures have been intensified, the results tell a different story. The ongoing attacks call into question the effectiveness of strategy, political resolve, and institutional integrity.
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Nigeria’s plight is not isolated; it reflects a larger trend across the continent. However, its size, population, and geopolitical significance mean that its failure would have disastrous effects not only on itself but also on West Africa.
The Tinubu administration, similar to the previous Buhari administration, entered office with promises of economic renewal, anti-corruption initiatives, and enhanced security. Despite this, people continue to face unrelenting violence and economic downturn. The lack of consistent accountability exacerbates the dire situation.
For Nigeria to ensure a viable future, its leaders must begin by establishing clear objectives. It is crucial to invest heavily in community policing and enhance intelligence gathering.
To alter this narrative, the country must promptly invest in industrial growth and revitalize neglected manufacturing zones. Establish large agro-processing centers that generate employment and bolster food security. Construct modern infrastructure, including roads, railways, and energy systems, which can enhance productivity.
Emphasize educational reforms, particularly in technical and digital skills, and provide support for MSMEs through credit, tax incentives, and stable policy frameworks. These are not mere luxury pursuits; they represent essential needs.
Nigeria stands at a pivotal point in its history. It can choose to continue its drift towards violence, inflation, and youth disillusionment.
