Our democracy hasn’t translated to economic security – Hon Ukeje

A former House of Representatives member, Nnenna Ukeje, on Thursday, said Nigeria’s democratic system has “clearly not translated to economic security” for its citizens.

Ukeje, who represented Bende Federal Constituency of Abia State, while delivering her speech as a guest speaker at the 23rd Annual Trust Dialogue held at the Nigerian Air Force Conference Centre, Abuja.

The dialogue, organised by the Media Trust Group, had as its theme: “Nigeria’s Fourth Republic: What Is Working and What Is Not.”

In her remarks, Ukeje noted that the country’s democratic experiment has raised credibility questions.

“The dependence of the umpire, INEC; the shrinking of the political space, the heightened intolerance of any viable opposition, and the decline of multi-party political systems by incessant defections,” she said.

According to her, the paradox of the Fourth Republic is that while politics continues to be extremely vibrant, democracy is fragile and governance is receding.

She also argued that democracy appears unable to solve the country’s major problems of rising insecurity and eradication of multidimensional poverty,

Quoting different statistics on the poverty level in Nigeria, the former lawmaker submitted that democracy has not translated to economic security in the country.

“Amidst declining public finance accountability and profligacy amongst us, the political class, according to the World Bank reports of 2025, over 75% of Nigerians live below the United Nations poverty threshold of $2 per day, translating to over 133 million people who are said to be living in multidimensional poverty.

“With a new PwC report projecting that 141 million people would have transmitted to the multidimensional poverty trap by the end of 2026.

“More disturbing statistics from NDIC confirmed by the Minister of Finance, Mr. Wale Edun, states that only 2% of the 70 million bank account holders have more than 500,000 Naira, or the value of $350, in their accounts.

“Democracy, sadly, has clearly not translated to economic security,” she said.

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