Opinion
The Youth And Negative Perspective Of Corruption War
There was a discussion between some young men recently that should get any well meaning Nigerian ponder about the future of this country. We were at the office of the Federal Road Safety Commission, FRSC, waiting to procure our drivers licences. As usual, there were many people and series of procedures which usually make it unimaginable that one would leave the place in less than three hours. Except for people that are connected, most applicants spend greater part of the day there. So there was plenty of time for people to chat, argue and talk on all manner of issues, both the important and unimportant ones.
So these young men, about five of them, were having a great day, dwelling on all kinds of issues. After sometime, one of them asked what they thought about the on-going fight against corruption in the country. Hardly had he finished talking when the others echoed “Bring Back Our Corruption.” Of course, the slogan: Bring Back Our Corruption, has been trending on the various social media platforms for sometime now but these young people, brought another dimension to the campaign which was indeed worrisome.
They argued that before the advent of the current administration and resumption of the anti-graft war by President Muhammadu Buhari, people at the corridors of power embezzled government funds which they invested in estate development and other ventures through which a lot of people were engaged.
In the words of one of them, “these big men when them get money , them go carry am do project like estates and when you go there you go get job, make money to feed your family. Them they share this money reach every body . Now they no dey do any project again because they no want make EFCC or Buhari arrest them. When corruption bin dey, we dey get money chop and do other things but now wey we dey fight corruption, hunger dey kill people”
That discussion just exposed the state of moral barenness in the nation. These were youths , the supposed leaders of tomorrow instead of condemning the criminal acts of those who looted our treasury and have made life hellish for them and their future generations, publicly applauded the looters and canvassed that corruption should be brought back.
And these misguided youths forget that the money that was being shared to them by the so- called big men, was Nigerians’ money which was supposed to be used to build schools, hospitals, good roads, provide electricity and other amenities that would have made life more meaningful.
They forgot that when these facilities are provided, employment will be provided and lives will be saved. They never reasoned that had these monies not been stolen, had they been put to judicious use, youths would not need to feed on the crumbs from the rich men’s table. Rather they will have adequate electricity supply to grow their own businesses. Our roads will not be death traps as they are today, people will not be dying every day due to poor facilities in our hospitals, our children will not be learning under trees and dilapidated buildings.
l am not realy an apologist of the present administration under which alot of things have changed for the worse, but l know there are many reasons why there is hunger in the land other than the fight against corruption.
Before now , the price of our oil was high. Today, the price of oil all over the world has crashed. Nigeria has ceased to be the largest economy in Africa and the largest producer of oil in the continent. The quantity of oil the country produces has dropped drastically, no thanks to the dastardly activities of militants and agitators in the Niger Delta.
Price of food and other items have become so exorbitant in the market while income has reduced not because of the fight against corruption or solely because of today’s poor management, but also because of yesterday’s in competence, mismanagement and embezzlement of funds, shortsightedness, lack of proper investment and greed.
Of course, l agree with some financial analysts that Buhari’ s government could and should do more to save our economy and bring us out of the present woes, but laying the current economic crisis at the doorstep of the president and his political party will be very unfair.
So it is my opinion that instead of blaming Buhari for our predicaments, our youths and indeed all Nigerians should join hands in ridding our society of corruption which has been the bane of our development. Let us tag corruption as wrong and work hard to eliminate it instead of promoting it and adoring corrupt people.
It goes without saying that it is only in a corrupt -free society that people like the youths that have good skills can get good jobs; candidates seeking admission into tertiary institutions can gain admission without having any god father or giving bribe.
lt is only when our country is rid of corruption that jobs will be given to the deserving graduates instead of reserving them for children of politicians and the wealthy. Moreover, there will be more jobs because the numerous investors who have fled the country will return knowing that their investments will be safe.
However, for people to have more confidence in the government and believe in the fight against corruption, there is need for transparency and accountability. Making the fight look one, sided and like a political vendetta will only cast doubt in the minds of the citizens about the sincerity of government and the anti-graft officials towards the fight.
From all indications, Nigeria possesses enough human and material resources to become a true economic powerhouse in Africa. According to the National Population Commission (NPC, 2023), the country’s population has grown steadily within the last decade, presently standing at about 220 million people—mostly young, vibrant, and innovative. Nigeria also remains the sixth-largest oil producer in the world, with enormous reserves of gas, fertile agricultural land, and human capital.
Yet, despite this enormous potential, the country continues to grapple with underdevelopment, poverty, unemployment, and insecurity. Recent data from the National Bureau of Statistics (NBS, 2023) show that about 129 million Nigerians currently live below the poverty line. Most families can no longer afford basic necessities, even as the government continues to project a rosy economic picture.
The Subsidy Question
The removal of fuel subsidy in 2023 by President Bola Ahmed Tinubu has been one of the most controversial policy decisions in Nigeria’s recent history. According to the president, subsidy removal was designed to reduce fiscal burden, unify the foreign exchange rate, attract investment, curb inflation, and discourage excessive government borrowing.
While these objectives are theoretically sound, the reality for ordinary Nigerians has been severe hardship. Fuel prices more than tripled, transportation costs surged, and food inflation—already high—rose above 30% (NBS, 2023). The World Bank (2023) estimates that an additional 7.1 million Nigerians were pushed into poverty after subsidy removal.
A Critical Economic View
As an economist, I argue that the problem was not subsidy removal itself—which was inevitable—but the timing, sequencing, and structural gaps in Nigeria’s implementation.
- Structural Miscalculation
Nigeria’s four state-owned refineries remain nonfunctional. By removing subsidies without local refining capacity, the government exposed the economy to import-price pass-through effects—where global oil price shocks translate directly into domestic inflation. This was not just a timing issue but a fundamental policy miscalculation.
- Neglect of Social Safety Nets
Countries like Indonesia (2005) and Ghana (2005) removed subsidies successfully only after introducing cash transfers, transport vouchers, and food subsidies for the poor (World Bank, 2005). Nigeria, however, implemented removal abruptly, shifting the fiscal burden directly onto households without protection.
- Failure to Secure Food and Energy Alternatives
Fuel subsidy removal amplified existing weaknesses in agriculture and energy. Instead of sequencing reforms, government left Nigerians without refinery capacity, renewable energy alternatives, or mechanized agricultural productivity—all of which could have cushioned the shock.
Political and Public Concerns
Prominent leaders have echoed these concerns. Mr. Peter Obi, the Labour Party’s 2023 presidential candidate, described the subsidy removal as “good but wrongly timed.” Atiku Abubakar of the People’s Democratic Party also faulted the government’s hasty approach. Human rights activists like Obodoekwe Stive stressed that refineries should have been made functional first, to reduce the suffering of citizens.
This is not just political rhetoric—it reflects a widespread economic reality. When inflation climbs above 30%, when purchasing power collapses, and when households cannot meet basic needs, the promise of reform becomes overshadowed by social pain.
Broader Implications
The consequences of this policy are multidimensional:
- Inflationary Pressures – Food inflation above 30% has made nutrition unaffordable for many households.
- Rising Poverty – 7.1 million Nigerians have been newly pushed into poverty (World Bank, 2023).
- Middle-Class Erosion – Rising transport, rent, and healthcare costs are squeezing household incomes.
- Debt Concerns – Despite promises, government borrowing has continued, raising sustainability questions.
- Public Distrust – When government promises savings but citizens feel only pain, trust in leadership erodes.
In effect, subsidy removal without structural readiness has widened inequality and eroded social stability.
Missed Opportunities
Nigeria’s leaders had the chance to approach subsidy removal differently:
- Refinery Rehabilitation – Ensuring local refining to reduce exposure to global oil price shocks.
- Renewable Energy Investment – Diversifying energy through solar, hydro, and wind to reduce reliance on imported petroleum.
- Agricultural Productivity – Mechanization, irrigation, and smallholder financing could have boosted food supply and stabilized prices.
- Social Safety Nets – Conditional cash transfers, food vouchers, and transport subsidies could have protected the most vulnerable.
Instead, reform came abruptly, leaving citizens to absorb all the pain while waiting for theoretical long-term benefits.
Conclusion: Reform With a Human Face
Fuel subsidy removal was inevitable, but Nigeria’s approach has worsened hardship for millions. True reform must go beyond fiscal savings to protect citizens.
Economic policy is not judged only by its efficiency but by its humanity. A well-sequenced reform could have balanced fiscal responsibility with equity, ensuring that ordinary Nigerians were not crushed under the weight of sudden change.
Nigeria has the resources, population, and resilience to lead Africa’s economy. But leadership requires foresight. It requires policies that are inclusive, humane, and strategically sequenced.
Reform without equity is displacement of poverty, not development. If Nigeria truly seeks progress, its policies must wear a human face.
References
- National Bureau of Statistics (NBS). (2023). Poverty and Inequality Report. Abuja.
- National Population Commission (NPC). (2023). Population Estimates. Abuja.
- World Bank. (2023). Nigeria Development Update. Washington, DC.
- World Bank. (2005). Fuel Subsidy Reforms: Lessons from Indonesia and Ghana. Washington, DC.
- OPEC. (2023). Annual Statistical Bulletin. Vienna.
By: Amarachi Amaugo