By Wahab Abiona

When sweeping economic reforms such as fuel subsidy removal and the floating of the foreign exchange rate were introduced, Nigerians were told to brace for short-term pain in exchange for long-term gain. Citizens were promised that sacrifices today would yield relief tomorrow—better electricity, accessible healthcare, affordable education, modern roads, and an efficient transport system.

Fast forward to today, and the pressing question remains: where are these promised benefits?

The 2023 removal of fuel subsidy saw petrol prices surge from about ₦185 per litre to over ₦850, later climbing to ₦1,300 amid global tensions from the Iran–US war. The immediate effect rippled across the economy. Transport fares escalated, food prices soared, and inflation exceeded 30 per cent by early 2024, according to Nigeria’s National Bureau of Statistics. The naira’s steep depreciation further eroded purchasing power, making imported goods prohibitively expensive.

For most Nigerians, the reality is grim: stagnant incomes juxtaposed against soaring costs. Poverty deepens, and millions are pushed further into economic hardship.

In return for these sacrifices, citizens expected tangible improvements in infrastructure and social welfare. What they have received, however, are largely short-term palliatives—chiefly, the distribution of food items such as rice. These measures, while providing temporary relief, fall woefully short of the comprehensive welfare system promised.

True welfare is more than handouts. It is the guarantee of reliable electricity to power homes and businesses, functional healthcare accessible to all, quality education that equips the next generation, and infrastructure that drives economic growth. These are the pillars of a thriving society, not periodic interventions that fail to address structural deficits.

Equally troubling is the stark contrast with past rhetoric. Before assuming office, there were trenchant criticisms of similar policies under previous administrations. Today, those same policies are in place, their impact even harsher, yet without the safeguards or benefits once promised.

Leadership is about accountability. When citizens voice concerns about economic hardship, it must not be dismissed as mere lamentation. It is a call to action, a reminder of the social contract between government and people.

Nigerians are not seeking miracles; they are demanding results. They expect promises to be fulfilled: stable electricity, improved infrastructure, and a better standard of living. They want policies that balance sacrifice with tangible benefits.

If current strategies are failing, a reassessment is overdue. Leadership demands humility to acknowledge shortcomings and the courage to recalibrate. And if the challenges prove insurmountable, the question of stepping aside in the nation’s interest should not be taboo.

The path forward must be grounded in sincerity, transparency, and a genuine commitment to public welfare. Nigerians deserve more than survival—they deserve progress, dignity, and hope for a better future.

The time to act is now.