According the 2022 Q2 data by the NBS, Nigeria’s inflation currently stands at 18.06%. Unemployment rate stands at 33.33%. Underemployment rate stands at 22.8%. While youth unemployment stands at 42.5%.
The data claimed real GDP to have grown in the Q1 of 2022 by 3.11%. While a data from the Central Bank of Nigeria pegged FX rate at N415/$1.
With a population of over 200 million citizens, unemployment rate of more than 33% and youth unemployment rate of over 40%. Nigeria is likely going to even face stiffer structural and cyclical unemployment in the coming years.
Recently, the CBN sound an alarm of capital flight from Nigeria. According to them, from 1986 to 2015 alone, over $8.8trn have been lost to capital flight.
Our Balance of Payment, which of course is the records of aggregate international trade and financial transactions between Nigeria and the rest of the world, in the first quarter of 2020 hit -$11.182bn, according to data from CBN. We have been running BoP deficit for the past 25 quarters.
Instead of indulging our cognizance into the lense of religious biases of the said contenders, we should rather be asking the following questions:
1- What can any contender do to prevent jobs from being lost to insecurity in the country.
2- What can these contenders do to create enough new jobs to employ youths off the labour market.
3- What policies do these contenders have to slow down inflation?
4- Is the rate at which Naira is exchanging per dollar acceptable? If no, what can we do about it?
5- How do we plan to secure our country from the beasts lying in ambush as we travel across our highways?
6- When are we going to ever have surplus or at least equilibrium Balance of Payment?
I think, these and many more questions, should be our focus of the day. We shouldn’t just seek the truth by asking these significant questions, rather we should follow closely their responses and examine how realistic their camping propaganda is.
From his past records as the governor of Lagos State, the man that brought mobile broadband to Nigeria, the man that employed thousands youths, the man that broke the monopoly of NEPA, the man the pioneered the IGR mechanism in Nigeria, the man that brought in FDI into lagos, he is none other than His Excellency Asiwaju Ahmed Bola Tinubu.
His running mate, a voracious reader, an exemplary and impeccable man of esteemed character, an expert in anti-terrorism, a two term governor of Borno State, a serving Senator, a man of honour and integrity, is none other than Senator Kashim Ibrahim Shattima, have the key to unlock our puzzle.
Unquestionably, they have the solution to Nigeria’s sickness. We are judging them from their past achievements, their current commitments and their future projections.
You can send your comments to the writer Yusuf Nadir Ahmad via +2348145598212.