Editorial
Nigeria’s Economy: How Healthy?
Watchers of the Nigerian economy
were recently treated to
discordant tunes over the state of the nation’s economy by some key players in the sector. A lot of people were taken aback when the Finance Minister and the Governor of the Central Bank of Nigeria gave conflicting reports of the state of the Nigerian economy.
The controversy over the state of affairs of the economy which was brought to public space by the pronouncements of the Coordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, on the one hand, and the Governor the Central Bank of Nigeria, CBN, Lamido Sanusi Lamido on the other, has left so many persons bewildered.
This is so because while the Minister asserts that the economy was on course and stable, the CBN Governor insists that the contrary is true. That these two key officers would be saying different things on the same subject is bad, and that the administration cannot speak from one authorised source is also regrettable.
However, while the controversy lasted, Dr. Ngozi Okonjo-Iweala came out to stoutly defend the economy, insisting that the country was not broke and that the nation had met all its obligations. To support her position, reference was made to the fact that out of N1.7 trillion of personnel costs and wages, N 1.3 trillion was paid, while on overheads, N 180 billion was released out of the N248 billion budget for that purpose.
To further buttress the fact that the economy was doing well despite shortfalls in revenue arising from massive crude oil theft and pipeline vandalism, the Minister said that on capital budget N850 billion, 95 per cent cash-backed had been released, while 75 per cent of that amount had been utilised. She then wondered where those who claim that the economy had derailed got their facts from.
Even so, while the Finance Minister says all is well some realities on ground can only be worrisome. In addition to the fact that Finance Commissioners were walking out of Federation Accounts Allocation Committee meetings, reports of shortfalls in payment to the various tiers of government do not also add up.
While The Tide is not unaware of the on-going economic sabotage being perpetrated by oil thieves and its negative impact on the nation’s economy, our concern is rooted in the fact that the conflicting reports hitherto fed the public on the state of the economy, is capable of sending wrong signals.
We think that an issue as serious as the prevailing condition of the nation’s economy should not be an issue to guess or argue about. It should be fact based. Indeed it should be made available to the public only by the Coordinating Minister of the Economy whose responsibility it is to aggregate the performance of all the sectors.
To avoid further contradictions on the state of the economy and to build the much needed confidence, government functionaries should double check their facts and not raise doubts and speculations that are capable of injuring the polity. Because it is important for Nigerians to participate actively in the economy the truth about the state of affairs is very necessary. In fact, we ask that the true version be released now.
Editorial
NCC, Save Nigerians From Exploitation
Editorial
WPFD: Nigeria’s Defining Test
Nigeria stands at a critical juncture as the world marked World Press Freedom Day (WPFD) on May 3. This annual observance is a reminder that a free press is central to democratic life, good governance, and public accountability. For Nigeria, it is also a moment for sober reflection on how far the country has come and how far it still has to go in safeguarding the independence of its media.
World Press Freedom Day exists to highlight the fundamental importance of freedom of expression and to honour journalists who risk their lives in pursuit of truth. It underscores the idea that without a free press, societies cannot function transparently, nor can citizens make informed decisions. In countries like Nigeria, where democracy continues to evolve, the observance carries particular urgency.
This year’s theme, “Shaping a Future at Peace: Promoting Press Freedom for Human Rights, Development and Security”, places journalism at the heart of global stability. It emphasises that a peaceful society cannot be built on silence, fear, or manipulated information. Rather, it depends on the free flow of accurate, timely, and independent reporting.
At its core, the theme highlights the role of journalism in fostering accountability, dialogue, and trust. These are not abstract ideals. In Nigeria, where public confidence in institutions is often fragile, the media remains one of the few platforms through which citizens can question authority and demand transparency. When press freedom declines, so too does public trust.
Journalism serves as a foundation for peace, security, and economic recovery. Countries with robust media systems tend to attract greater investment, maintain stronger institutions, and resolve conflicts more effectively. Nigeria’s economic challenges, ranging from inflation to unemployment, require open scrutiny and informed debate, both of which depend on a free press.
However, the issue of information integrity has become increasingly complex in the digital age. Artificial Intelligence (AI) and online platforms have amplified the spread of misinformation and disinformation. In Nigeria, where internet penetration has grown rapidly, false narratives can travel faster than verified facts. This makes the role of credible journalism more vital than ever.
The challenge is not only technological but also ethical. AI-driven manipulation of information threatens to distort public discourse, influence elections, and deepen social divisions. In such an environment, professional journalism must act as a stabilising force, ensuring that truth prevails over sensationalism and propaganda.
Equally troubling is the safety of journalists. Across Nigeria, reporters face growing levels of online harassment, judicial intimidation, and physical threats. Self-censorship is becoming more common, as media practitioners weigh the risks of reporting sensitive issues. This trend undermines the very essence of journalism.
A particularly alarming incident involved a serving minister in the present administration, who openly threatened to shoot a journalist during a televised exchange. Such conduct, broadcast to the public, sends a dangerous signal that hostility towards the press is acceptable. It erodes the norms of democratic engagement and places journalists in harm’s way.
This year’s theme aligns closely with the United Nations Sustainable Development Goal (SDG)16, which promotes peace, justice, and strong institutions. Freedom of expression is a cornerstone of this goal. Without it, institutions weaken, corruption thrives, and justice becomes elusive. Nigeria’s commitment to SDG 16 must therefore include genuine protection for the media.
Historically, the Nigerian press has been a formidable force. From resisting colonial rule to challenging military dictatorships, our journalists have played a central role in shaping the nation’s political landscape. Today, however, that legacy appears to be under strain, as the media operates under what can best be described as a veneer of freedom.
Beneath this facade lies a troubling reality. Journalists are routinely harassed, detained, and prosecuted for performing their constitutional duties. Reports from media watchdogs indicate that dozens of Nigerian journalists face legal threats or arrest each year, often for exposing corruption or criticising those in power.
The Cybercrimes (Prohibition, Prevention, etc.) Act of 2015 has become a focal point of concern. Originally intended to combat cyber threats, it has increasingly been used to silence dissent. Sections 24 and 27(1)(b), in particular, have been invoked to target journalists, bloggers, and social commentators.
Although amendments introduced in February 2024 were meant to safeguard journalists, concerns persist. The law continues to be wielded in ways that stifle investigative reporting and restrict freedom of expression. Legal reforms must go beyond cosmetic changes to address the root causes of misuse.
To safeguard the future of journalism in Nigeria, decisive action is required. The Cybercrimes Act must be revisited to ensure it cannot be weaponised against the press. Law enforcement agencies must operate free from political influence, upholding the rule of law and protecting journalists’ rights. Civil society and international partners must also strengthen independent media through funding, training, and platforms for wider reach.
In this rapidly evolving world shaped by artificial intelligence and digital innovation, Nigeria faces a clear choice. It can either allow press freedom to erode under pressure, or it can champion a truly independent media landscape. The path it chooses will determine not only the future of journalism, but also the strength of its democracy and the peace it seeks to build.
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