One year after President Tinubu was sworn in, many Nigerians feel that their situation has worsened despite the president’s attempts to signal stability and clarity. Despite the modest improvements in Nigeria’s economic and security conditions under Tinubu and his team, significant challenges remain.
Motunrayo Adaramaja, a road-side trader in Lagos, shares her struggles as her business has been stagnant due to high market prices, resulting in fewer customers. She has had to limit her stock to items that she can buy and sell quickly without owing suppliers. While Tinubu’s decisions may hint at a focus on re-election in 2027, they cater to the elite despite the country’s inability to afford such luxuries.
President Tinubu quickly formed his cabinet and outlined an economic plan, in contrast to his predecessor. Matthew Page of Chatham House notes that Tinubu and his team have made some improvements in Nigeria’s economic and security conditions. Oil production has increased, reaching its highest level since September 2021, which is crucial for funding Nigeria’s budget. The opening of Dangote Refinery is expected to reduce Nigeria’s dependence on imported oil products. However, these improvements are only managing Nigeria slightly better than his predecessor, with significant challenges remaining.
In conclusion, while President Tinubu has made some progress in managing Nigeria’s economy and security, there are still significant challenges that need to be addressed to improve the country’s long-term outlook. As Adaramaja put it: “My business is still struggling due to high market prices, and I hope that the government can do more to support small businesses like mine.”
