The President’s shift from economic stabilisation to shared prosperity presents an ambitious new chapter for Nigeria. But with poverty, food inflation and declining household purchasing power still weighing heavily on citizens, the government must prove that economic recovery is reaching beyond official statistics.
President Bola Ahmed Tinubu may have declared the end of Nigeria’s economic emergency, but millions of citizens are yet to experience the beginning of economic relief. His new shared prosperity agenda raises a fundamental question: can Nigeria celebrate economic recovery while ordinary families continue struggling to afford food, transportation, education and healthcare?
The administration points to improved external reserves of approximately $55 billion, non-oil exports exceeding $6 billion and second-quarter 2026 economic growth of 4.43 per cent as evidence of progress. These achievements deserve recognition. However, September 2026 headline inflation stood at 14.63 per cent, while food inflation remained at 19.59 per cent. Lower inflation does not necessarily mean lower prices or improved purchasing power.
The deeper concern is the distance between macroeconomic stability and household welfare. The International Monetary Fund’s June 2026 assessment estimated that 63 per cent of Nigerians were living below the national poverty line, while approximately 27 million faced food insecurity in autumn 2025. These figures demonstrate why economic recovery must be judged beyond government revenue and financial indicators.
Economist Amartya Sen, in Development as Freedom (1999), provides an important framework for understanding this challenge. He argues that development should expand the real freedoms people enjoy. His perspective is particularly relevant to Nigeria: genuine development must improve access to education, healthcare, employment and economic opportunities rather than simply increase national wealth.
Tinubu’s ambition to build a $1 trillion economy by 2030 also depends heavily on private investment, which the President expects to provide approximately 86 per cent of the required capital. While private-sector participation is essential, profitability does not automatically guarantee inclusive development. Without deliberate government investment and effective regulation, commercial centres could prosper while rural communities and vulnerable populations remain economically marginalised.
Industrialisation requires more than ambitious announcements. Manufacturers need affordable electricity, reliable transportation, accessible credit, security and predictable taxation. Small businesses face even greater difficulties because they have limited capacity to absorb rising operating costs. Similarly, agricultural communities across Kogi, Benue, Niger and other states need roads, irrigation, storage and processing facilities to turn production into profitable livelihoods.
The government must translate its promises into measurable commitments, particularly:
- Affordable food: Agricultural production must translate into lower market prices and improved household purchasing power.
- Sustainable employment: Young Nigerians need meaningful jobs, decent wages and opportunities for advancement.
- Reliable electricity: Manufacturers, entrepreneurs and households need affordable and dependable power.
- Accessible education and healthcare: Economic reforms must not make essential services increasingly unaffordable.
- Rural development: Agricultural communities need roads, irrigation, storage facilities and productive investment.
- Transparency and accountability: Government must demonstrate how its economic ambitions are being financed and how their benefits are reaching ordinary citizens.
The administration’s ambition is not inherently misguided. Moving from economic stabilisation to shared prosperity is a logical next stage of reform. However, the government must recognise that public patience is not unlimited. Nigerians who have endured difficult economic adjustments deserve visible evidence that their sacrifices are producing meaningful improvements in their daily lives.
Nigeria does not merely need a bigger economy; it needs a fairer and more productive society. A teacher should be able to educate a child, a farmer should earn a profit from a harvest, and a graduate should have access to meaningful employment. The emergency phase of economic reform may be over, but the emergency of survival has not ended for millions of Nigerians.
– Inah Boniface Ocholi writes from Ayah – Igalamela/Odolu LGA, Kogi state.
08152094428 (SMS Only)
