Endemic poverty, hunger and acute misery have struck the country deeper than the Federal Government seems aware of, to muster a pushback from the precipice.
Feelers from the street are that Nigerians now either borrow or pinch from the pension wallet to feed. It is a dangerous signpost of doom and gloom. But handlers of state affairs need not wait for the ticking time-bomb of social chaos before ameliorating hardship.
It is unfortunate that security has taken the prime position in the governance agenda in the last one decade and the better of Muhammadu Buhari’s administration. Year-on-year, one-trillion-plus budgetary provision for defence has steadily increased since 2016, though without corresponding results in a safe country. Latest Global Terrorism Index ranked Nigeria as the third-worst country exposed to terrorism with no improvement recorded since 2017.
In its COVID-19 National Longitudinal Phone Survey for January 2021, the NBS reported 38 per cent of the households reported income loss. Staple food prices have increased by at least 50 per cent, while minimum wage is rooted at N18, 000 in many states. The Federal Government, apparently trying to stay afloat, has tightened means of income with Value Added Tax raised to 7.5 per cent. As of 2020, the Nigerian Living Standards Survey report by the NBS estimated that 82.9 million or 40.
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