ANOTHER TIME TO RENEW HOPE   

Nigerians should embrace a new spirit that places emphasis on unity of purpose

As Nigerians enter a new year today, there are no signs that the economic landscape in 2026 will be remarkably different despite the much-touted economic reforms programme of the current administration. Besides, with the implementation of the controversial tax laws starting today, the prevalent public disillusionment over the way the issue has been handled will not easily go away. It is therefore increasingly clear that Nigerians are being ushered into a new year with anxieties.

The prevalent public disillusionment occasioned by severe economic hardship is being capped by the fact that the authorities are fast losing the dominance of the machinery of violence to non-state actors. To compound the problems, across the country today, many basic services such as education, health and infrastructure are decrepit or in short supply. With all the investment in power, the national grid still collapses at will. In the last one week, the generating ability was reportedly reduced to zero, at least for some hours.

Even though inflation has dropped, food inflation remains high and has continued to erode the purchasing power and living standards of the people. There is still a wall of difference between the current prices of food items, and 2023 when the subsidy on fuel was removed. The minimum wage of N70,000 is hardly making any difference. This becomes more agonising because the unemployment rate is not only frightening high but breeds the risk of social, economic, and security turbulence. More that 80 million youths are roaming the streets without jobs. While much money is now going to the state coffers after the deregulation of fuel, many of them can hardly carry out their routine duties, not to talk of creating jobs.  It is little wonder why social tension in the country has reached a boiling point, taking several forms, including violent agitations.

We do not need any polls to decipher the mood of the public: many Nigerians were dissatisfied with the past year largely because of persistent insecurity. Across the country, there were indiscriminate killings and abductions, including mass abductions of schoolchildren. There were also farmer-herder clashes, leading among other things, to the United States designating Nigeria as a ‘country of particular concern’. An evidently worried President Bola Tinubu recently eased out the Minister of Defence, shortly after shuffling the service chiefs. These were pointers to poor performance.

Indeed, the security situation is affecting every sphere of life. There is severe economic hardship across the country. Despite the numerous trips abroad, the perception of Nigeria as an investment destination continues to diminish in the face of pervasive insecurity. Many farmers across the nation cannot go to their farms because of the fear of being kidnapped, and with dire consequences for agricultural production, and the prices of goods.

Unfortunately, the prevalent public disillusionment could be worsened by politicians and other stakeholders because of intense activities ahead of the 2027 general election. Political parties must put their houses in shape in order to count in the next election. But many expect the president to liaise with the National Assembly and others to ensure the police force is decentralised. There are too many ungoverned spaces across the country, hence an urgent need to restore some sense of security in a starkly divided country. The coming on stream of the Forest guards will be helpful, while the cooperation between Nigeria and the United States is oiled to ensure there is no resting place for bandits, terrorists, insurgents and criminals. Security is vital to the economy.

As we begin 2026, we urge Nigerians to embrace a new spirit that places emphasis on unity of purpose as we seek to advance our country for peace and prosperity.

We wish all our readers Happy New Year!