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NIGERIA MORE POLARIZED THAN EVER AFTER 2023 ELECTION, TINUBU’S UNPOPULAR REFORMS – REPORT
A 2024 report by SBM Intelligence has shown that Nigeria’s economy has continued to worsen.
According to the report, rising food inflation, persistent insecurity across all geo-political zones, and more people falling into extreme poverty have worsened the country’s economy.
Aside from the worsening economy, it was also reported that the country is more polarised than ever after the 2023 elections.
The report described reforms introduced by President Bola Ahmed Tinubu as unpopular.
Listed among the policies is the removal of fuel subsidies which has been noted as leading to worsening living conditions and closure of businesses.
This report comes amid the economic hardship bedeviling Nigerians with worsening inflation such as food inflation, and general inflation.
Already, inflation has hit 33.88%, according to data from the National Bureau of Statistics.
As of August 2024, the number of Nigerians suffering from food insecurity stood at 31.8 million.
Some businesses have also died or left the country due to harsh economic situations.
For instance, 61 companies have reportedly left the country in four years due to the economic situation.
Despite the government’s assurances, skepticism surrounds its reform efforts, casting uncertainty over their potential to drive meaningful economic change.
