There is a problem in Nigeria currently for the ordinary man and that is the problem of having higher expenses than income. The situation in Nigeria has gone from bad to worse, and personally I am affected. It is very difficult for me have eat on a daily basis, and I hope that it would get better one day.
The beginning of the Tinubu government came with a shock which was the removal of fuel subsidy. Before this, the country was in a comatoes state and a lot of people believed that the new government was going to alleviate the suffering of the people but with the declaration of subsidy, the case went to a near death case. It is believed by a lot of people that subsidy is a palliative that the government give to the citizen on fuel, so as to reduce the high cost of petroleum products but then they decided to remove the subsidy, telling us that they are going to use the proceeds from it for capital project and development.
While it looks like they have clear intention, we need to understand that over 133 million citizens are living below poverty line and this decision is completely hard on them but then, it is very difficult again when we see that the government might not even use the money from the subsidy to do anything relevant. The supplementary budget that the government submitted was filled with unnecessary details that isn't necessary for a country that is experiencing economic issues.
We are a oil producing country, but everything is terrible since we do not have a single refinery to refine our oil. With the increase in oil subsidy and the effect of naira devaluation which led to the naira to fall 1200 to 1 dollar, the cost of living has increased, from food to every basic thing. The price of transportation is now 500% what it was before subsidy was removed, food prices is now 7X what is was before this yet, wages and salaries are yet to be increased. I am affected by this changes, and not just me, a lot of people are affected by these changes.
The economic landscape in Nigeria presents a grim reality for its citizens like me. The removal of fuel subsidies, coupled with the devaluation of the naira, has led to a cost of living crisis, severely affecting millions, including myself. As a citizen, I continue to hope for changes that can bring about significant improvement in my daily lives and the overall economic health of this nation.