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Despite the level of insecurity and economic hardship in this administration, there are still some policies that had good intentions on paper. The major problem is poor implementation, lack of accountability, and policies that contradict the supposed goals.
NELFUND (Student Loan Scheme):
The idea of helping students access education is good, but the structure raises serious concerns. Instead of reducing the cost of education, schools are increasing fees while students are pushed towards loans just to survive the system. Education should empower citizens, not push young people into debt before they even get their first job. A nation cannot develop by making higher education feel like a financial trap.
Fuel Subsidy Removal:
Removing subsidy could have been one of the best economic reforms if the gains were properly managed. Nigerians were told the money saved would improve infrastructure, transportation, healthcare, and reduce borrowing. Instead, citizens saw higher fuel prices, inflation, and worsening living conditions while visible development remained limited. The painful part is that government borrowing continues heavily, with future earnings already being tied down as collateral. If the hardship is immediate but the benefits are invisible, people will naturally question the purpose of the reform.
FX (Foreign Exchange) Reforms:
The unification of the exchange rate was meant to stabilize the economy and attract investors, but the sudden implementation heavily weakened the naira and increased the cost of imported goods. Businesses now struggle with unstable prices while ordinary Nigerians face inflation daily. Economic reforms without strong local production and industrial support will always hurt the masses first.
Minimum Wage Increase:
Increasing minimum wage sounds positive, but inflation has already overtaken the value of salaries. A wage increase without controlling food prices, electricity costs, transport fares, and rent only creates temporary relief. What workers need is purchasing power, not just bigger numbers on paper.
CNG Initiative:
The switch to CNG was presented as an alternative after subsidy removal, but the infrastructure was not ready before implementation. Many Nigerians still lack access to conversion centers, CNG stations, or affordable conversion kits. Policies work better when preparation comes before enforcement.
Tax Reforms:
Expanding the tax system while businesses are struggling and citizens are battling inflation can discourage small businesses and investors. Before increasing tax pressure, government waste, corruption, and excessive spending should first be addressed. Citizens are more willing to pay taxes when they can clearly see the impact in roads, electricity, healthcare, and security.
Agricultural Policies:
The government continues to speak about food security, yet farmers in many regions still battle insecurity, kidnappings, and lack of support. A country cannot achieve food sufficiency when farmers are afraid to enter their farms. Security is the first agricultural policy any serious nation must implement.
Security Spending:
Billions continue to be spent on defense and security procurement, yet kidnapping, terrorism, and banditry remain major national issues. Nigerians are not asking for speeches anymore; they want visible results. Security success is measured by safety on the streets, not budget announcements.
Nigeria’s biggest problem is no longer the absence of policies. The real problem is leadership accountability, implementation, and the inability to translate policies into visible improvement in citizens’ daily lives.
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