Economy
THE Human Rights Writers Association of Nigeria, HURIWA expresses deep alarm over the catastrophic rise in the cost of living across Nigeria, warning that the country is fast approaching a socio-economic breaking point driven by policy missteps, weak economic management, and a troubling absence of accountability.
Data from the National Bureau of Statistics (NBS) confirm what Nigerians already experience daily: runaway inflation, crushing food prices, and a steady erosion of purchasing power. Independent assessments by the World Bank and other global rating institutions further paint a grim picture—Nigeria is grappling with rising poverty, stagnant growth, and deepening inequality at a scale that threatens national stability.
Unemployment has reached crisis proportions. Millions of young Nigerians remain locked out of meaningful economic participation, while those employed face declining real incomes. The informal sector—long the country’s economic shock absorber—is itself under severe strain.
It is both ironic and indefensible that Nigeria, a major crude oil producer, now records some of the highest petrol prices among oil-producing nations. This reflects a profound failure in energy policy, the prolonged neglect of domestic refining, and the painful consequences of poorly managed subsidy reforms.
HURIWA also condemns the persistent dysfunction in the power sector under the administration of President Bola Ahmed Tinubu. Businesses are collapsing under the weight of unreliable electricity, households are forced into expensive alternatives, and economic productivity continues to suffer. The absence of clear, measurable progress in power generation and distribution underscores a systemic governance failure.
Equally disturbing is the pattern of underperformance in the implementation of capital budgets over successive fiscal years. The apparent disregard for the Appropriation Act—through delayed releases, poor execution, and lack of transparency—amounts to a serious breach of public trust and constitutional responsibility. Such lapses, which should ordinarily attract sanctions, have instead been met with silence and impunity.
Nigeria cannot continue on this trajectory without severe consequences.
Immediate Stabilisation Measures (Quick Wins)
HURIWA calls for urgent, practical interventions that can deliver rapid relief and restore confidence:
Fuel Price Stabilisation Through Local Refining: Fast-track operationalisation of domestic refineries—public and private—to reduce import dependence and ease petrol prices within months.
Emergency Food Security Plan: Direct support to farmers, subsidised transport for food distribution, and aggressive measures to curb post-harvest losses to bring down food inflation quickly.
Power Sector Shock Reform: Grant full autonomy to states and credible private investors to generate and distribute electricity, bypassing bottlenecks in the current centralised system.
Enforced Budget Discipline: Immediate publication of capital budget performance reports, backed by legal consequences for any breach of appropriation laws.
Targeted Social Protection: Expand direct cash support and wage adjustments for vulnerable Nigerians to cushion the immediate impact of inflation.
HURIWA maintains that governance must translate into measurable improvement in the lives of citizens. At present, the gap between policy pronouncements and lived reality is dangerously wide.
Nigeria stands at a critical crossroads. The government must move beyond promises and act with urgency, competence, and transparency. Anything less risks deepening public despair and eroding national cohesion.
The Nigerian people deserve relief. They deserve accountability. And they deserve leadership that works.
Signed: Comrade Emmanuel NNADOZIE Onwubiko, National Coordinator, Human Rights Writers Association of Nigeria (HURIWA)
A.I
April 20, 2026
Tags: HURIWA