Opinion
Rejigging Our Many Potentials
Every man, except the
pampered child of fortune, ought to have a vocation in order to earn a living. In ancient Jewish society, acquisition of vocational skills was required. Apostle Paul of the Bible even added tent-making to his vocation, while Jesus Christ earned carpentry skills from Joseph, his foster father.
Vocational education demands the training of specialists in various fields. There are institutions for imparting various types of specialised training to help people qualify for this. Our society demands specialists in every facet be it office, factory and even educational institution. Acquisition of special skills can lead to self-reliance.
Self-reliance is the great asset everyone ought to possess. By being self-reliant, a man gains glorious independence. He depends on his own powers and abilities and may not need to be helped by others. He has a heroic attitude to life and he is host to himself.
Life to him is a great adventure, full of interest and great excitement. He never feels dull or dispirited. Cicero, an ancient Greek, once said: “Most happy is he who is entirely self-reliant and who centres all his requirements on himself.”
Thrown upon his resources, the self-dependent accepts the challenges of life and develops new ventures, new qualities. He is full of devices and is ready to take the initiative. He is always confident of finding a way out of difficulties – economic, political or social.
At this period of radical economic difficulties, the lesson of self-reliance is needed because the average Nigerian is by nature fatalistic in his attitude. He tends to depend too much on fate or chance. Fate is the scapegoat on which he places the heavy responsibilities of his failures, which he always calls misfortunes.
This mindset destroys the springs of action. But if one has courage, initiative or is daring, one may become the master of one’s destiny. There are many who make their fortune by their own effort and then call it fate. They think it is an act of piety and humility towards God. But even this attitude is improper.
If it is God who has given us strength of body and power of mind, he surely expects us to help ourselves with them and not to be whining for divine help always. It is our duty to develop the gifts he has given us. Self-reliance is the parent of many virtues.
The self-reliant man is patient and persevering. He does not change or complain. He does not shirk his responsibilities. He is satisfied with what he can achieve by himself and is always striving after success. He does not envy others; nor does he think of begging favours from others.
The self-reliant person faces misfortune with a quiet courage. Emerson calls it “the essence of heroism, the first secret of success”. One who is self-reliant feels neither fear nor shame to labour with the hands because he understands that there is dignity in labour.
He is always learning new lessons, gathering valuable experience. His example is an inspiration to others, while his achievement is a model. Failure cannot shake his well-grounded self-confidence. Rather it spurs him to renewed enterprise. Confidence in himself wins him the confidence of others.
The great Italian artist, Michelangelo says: “The promises of the world are for the most part vain phantoms”. If we trust in them we delude ourselves. At the proper time, they invariably betray us, help to underline our weaknesses and breed in us a feeling of inferiority, a ruinous distrust in ourselves and a pathetic dependence on others.
As Bernard Shaw pointed out: “it is easy – terribly easy – to shake a man’s faith in himself”. And nothing does this more effectively than the habit of relying on others, of expecting the world or government to help us in the face of every difficulty.
Therefore, as we howl or bay through the biting economic hardship which manifests in loss of jobs, rising inflationary trend, capital flight etc, emanating from the economic reforms and state of insecurity in the country, every Nigerian must imbibe the spirit of self-reliance. There is no way out of it. This country is undergoing a strange phase of her economic life, and it is only the self-reliant that can brace the trend.
Our dependence on government largesse has to wane and those in paid employment must begin to develop their capability for self-reliance, as uncertainty trails every employment. However, government has to create the enabling environment for the realisation of individual and corporate economic potentialities.
Human achievement is indeed a record of man’s reliance upon himself. Great heroes, great scientists, great merchants were all self-made men. For instance, Benjamin Franklin was born of poor parents who could give him little education, yet by relying on his own God-given powers, he made his name memorable in science and statesmanship. Michael Faraday was a builder, but rose to be one of the greatest scientists of the world, among others.
If we fail to think properly of our own abilities, if we look to others for guidance at every step, we shall continue to faint at the mention of retrenchment or joblessness. We shall lose our confidence. Paupers shall we be perpetually, and be buried in unmarked grave of poverty.
By: Arnold Alalibo
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
