On the arrival and swearing in of the 14th President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu, on the 29th of May, 2023, the heart of the nation’s economy was touched with the removal of fuel subsidy This automatically affected the prices of commodities and prices went up. A bag of rice moved from N35, 000 to N105,000 while a plate of beans of 20 milk cup moved from N500 to N3,500. A tuber of yam from N500 to N4,000. And flour was not left out, which led to increase in a loaf of bread of 900g from N750 to N1,500.
However, in all these tribulations, the President maintained his stand that there will be light at the end of the tunnel.
Two years down the line, the effect of the reform started to manifest and the prices of food stuff crashed drastically. A bag of rice crashed from N105,000 to N56,000. A plate of beans from N3,500 to N1,000. Prices of flour equally crashed and bakeries started reducing the prices of loafs of bread; 900g from N1,500 to N1,200.
Now the question, is President Bola Ahmed Tinubu economic reform working?
However as the food stuffs are coming down, the Health Sector, Education and Transportation are still posing threat to man’s life.
With the drastic increase of FAAC allocation of States from N245 billion per state to N289 billion though depends on the State, some states can afford to take up projects and complete them successfully without federal government interference
And going by statistics, every local government has a general hospital which used to be the hope of the common man in the years past. The collapse of the general hospitals in some states gave rise to many private hospitals that can not afford the required medical equipment to save lives. Between 1983 and 1998 when General Hospitals were functioning well, infant mortality was 7 children death per 1000 lives but with the decay in the health sector between 1999 and 2025 the infant mortality has been on a steady downward trend, falling from just over 110 deaths per 1000 lives births. So with adequate funding and workers welfare, better life can still be guaranteed and economic productivity increase.
Therefore, each local government Chairman should be charged with the responsibility to fix the general hospital in his or local government so that citizens can also feel the impact of the economic reform. While the Regional Development Commission concentrate of the provision of good water supply and schools rehabilitation in their regions.