Analysis: Nigeria’s many problems on everyone’s lips

Nigeria is dealing with many challenges, including increased insecurity, religious intolerance, division, poor economic health, erratic electricity supply, strike by university teachers, accelerating inflation, depreciation of the naira, high unemployment, and over-indebtedness.

On almost every corner, on buses, offices and streets, the discussion on the lips of Nigerians is religious and ethnic differences, the nation’s troubled economic state and the country’s possible redemption from collapse.

It becomes more of a concern as countries begin to warn their citizens not to travel to Nigeria. The United States has issued such a warning to its citizens, identifying some high-risk areas in the country where terrorism, kidnapping for ransom and other security threats proliferate.

While insecurity is on the rise in the north, east and west, with many lives lost to kidnappings, the Boko Haram insurgency and separatist movements, Nigerians lack constant electricity at home and in offices as they spend huge amounts on gasoline and diesel generators. Businesses are frustrated and finding it difficult to operate amid the heavy burden of multiple taxes from government agencies.

Nigeria is also carrying a heavy debt load. Its total public debt stock stood at N39. 56 trillion as of December 2021. The country’s rising debt under President Muhammadu Buhari’s administration is a cause for concern, especially considering that the government now spends most of its revenue on debt service.

“For example, the Federal Government generated N3.93 trillion in the first eight months of 2021, but used N2.89 trillion to service debt in the same period, according to official data. Furthermore, the new figures indicate that the country, which has faced two recessions in four years, has more than doubled its debt stock since 2016,” BusinessDay said in a recent report.

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What this simply means is that Nigeria may not be embarking on new projects, as what little revenue is left after debt service will be used for salaries. Another option is more loans.

Discussions about the situation in Nigeria have become rife as next year’s elections draw near to elect the Nigerians they believe will transform and redeem the country. Many Nigerians who voted on sentiment in previous elections bite their fingers and are ready to correct such mistakes in the interest of the nation, even when wealthy politicians offer them money to influence their decisions. But it is doubtful how many Nigerians will stick to this as famine bites the earth.

Last month, Aminu Tambuwal, the governor of Sokoto state, in whose state thugs took the law into their hands to kill Deborah Samuel on a blasphemy charge, agreed that Nigeria is on the brink.

He said: “The issue of insecurity, disunity, calls us all, men and women of good will, to unite and rescue the country; Nigeria is on the precipice. Never before have we seen this kind of situation where our unit is so threatened, where corruption has been taken to the next level. It is no longer safer to move freely around the country.

“We saw the general accountant helping himself to declare money as alleged. Nigeria is on the brink and we must do everything we can to rescue her.”

Tambuwal, in his address to Lagos delegates at a town hall meeting in Ikeja, said the country was in a precarious situation that needed the urgent intervention of committed and focused leaders to save it from complete collapse.

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For many Nigerians, the country has never been as divided along tribal and religious lines as it is today.

As other stakeholders admitted, although Nigeria has had problems with ethnicity, it is getting worse day by day and this is bringing it to the brink of the abyss.

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For stakeholders, the last few years are wasted without tangible development to prove it, as other African nations such as Ghana, Kenya and Rwanda dwarf Nigeria in attracting investment.

“This is the darkest side of the Nigerian crescent moon; it was too dim for even the best of prophets to have forecast our arrival at the crossroads of confusion and degrading fate. The entity called Nigeria has never before housed this multitude of dispossessed, insulted, assaulted, hungry, angry, hopeless, helpless, neglected and worse still, abandoned people who are called Nigerians to the liking of the Buhari administration,” Tope Musowo said. , a public official. business commentator, he said he.

Nigerians who are also concerned about the poor state of the nation, reflected in Nigeria being declared a capital of poverty by the World Poverty Clock in 2018, have called for a restructuring of the country as a solution to put Nigeria on a trajectory. progressive. But this thinking is facing opposition as some regions want the status quo that has kept Nigeria stagnant for years.

However, some Nigerians are hoping for the rise of a ‘messiah’, perhaps through the ballot box in 2023 to open a new chapter for the country. Today, some Nigerians seem willing to vote for those they believe are credible to run the country’s affairs, but there are still fears that their votes will count, considering past experiences and endemic corruption in the system.

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Kunle Okunade, a political analyst, said: “Obviously the country is in a coma looking for redemption before total collapse. Neither sector is working as expected. The system is not working for the benefit of the common man except for a few who milk the scarce resources of the nation. There is no doubt that we cannot continue like this; there must be a fundamental change to save the country.

“Look around you, people are managing to survive; the situation is difficult, but I think we have the opportunity to make that necessary change next year. The decision about the future of the country is left in the hands of Nigerians. Nigerians must come out and exercise their right to vote in the 2023 general election by electing the right leaders to take the country to the next level.

“It is obvious that the problem in Nigeria is purely one of leaders; there’s no reason why we should be here, considering our resources, but I think just sitting and watching won’t solve anything. We have to get involved if we want to save things.”

Observers say what Nigeria needs are concrete steps to save the nation from the brink, consciously bring the country together and integrate, and take public relations measures to build the country’s image at home and abroad for tourism and the investment. As the 2023 elections draw closer, proven politicians with economic and managerial acumen capable of bringing Nigeria together must be elected, lest Nigeria fall apart.