Let us start today’s business with an acknowledgement that this is a special week in the history of Nigeria. This is an important week for some states in Nigeria. They are celebrating the 50th year of their existence, starting tomorrow, having been created by iconic General Murtala Muhammed on February 3, 1976. Before 1976, there were 12 states, and the government’s special initiative added new states, bringing the total to 19 states. The states that might be celebrating their 50th anniversay tomorrow are Anambra and Imo, which were given birth to by East Central State; Benue and Plateau were created from the Benue-Plateau State; North-Eastern State gave birth to Bauchi, Borno and Gongola states; Ogun, Ondo, and Oyo were created from old Western State; and North-Western State gave birth to Niger and Sokoto. There must be concrete developmental reasons for celebration by any of those states.
Of course, the creation of the Federal Capital Territory was also announced on the same day, though development and movement to occupy space took place many years later. Creation of those states was anchored on some factors, like bringing development closer to the people, and giving minorities in the population a stronger voice and ability to belong. Today, most of the states are still on feeding bottles, depending on the federal allocations from the federal federation account to feed their citizens and provide basic needs. They have been ruled by people who felt occupying positions of authority provided them the opportunity to self-aggrandise rather than to create history and a record of selflessness and accomplishment for posterity. They have initiatives for self-development, not community development. If each State has a development plan over the years, it would be easy to measure achievements.
There is actually nothing special in the states doing better than the Federal Government in development. In many advanced economies, this is a common scene. It had happened in Nigeria in the past when the Western Region was ahead of the federal government in establishing developmental projects. The first television in Nigeria and Africa, the first stadium in Nigeria, were built by the Western Region government under Chief Obafemi Awolowo, while the first full-fledged indigenous university was founded by Dr Nnamdi Azikiwe in the Eastern Region. Really, some Nigerian states are showing the Federal Government what leadership means. It used to be Lagos State alone, from Jakande to Fashola and now to Sanwo-Olu, but other states are coming up. Are there some from the birthday states? Let each of these states produce a compendium of their achievement in the last 50 years for prosperity.
As the nation inches towards the campaign for the 2027 elections, the day of reckoning is at hand. The Federal Government has been throwing out macroeconomic data that truly show improvement in the Nigerian economy since the present government took over a comatose economy from the Buhari government of yesterday. The external reserves have gone up, the inflation declined from almost 30 per cent to below 18 per cent; the exchange rate continues to appreciate, and the balance of payment is now in surplus. Quite an impressive data set.
This year, the Federal Government of Nigeria proposed a budget N58.18tn tagged the budget of “Budget of Consolidation, Renewed Resilience and Shared Prosperity”. The budget has projected total expenditure of N58.18tn, an expected revenue of N34.33tn, debt servicing of N15.52 trillion, and expected deficits of N23.85tn or 4.28 per cent of Gross Domestic Product. The budget was anchored on an inflation target of 12.5 per cent and an average exchange rate of N1,400/US$.
Given the positive macroeconomic data and the huge savings from the removal of fuel subsidy and the devaluation of the exchange rate, the country has witnessed some prosperity, which was not shared.
That is why the condition of the household has not been transformed to justify prosperity. Possibly that is why “shared prosperity” is included in the title of the budget. But when will the budget be approved, and when will implementation start? Governments should not base their opinions on data alone but on the effects or outcomes of their policies on the people. Clearly, we can see the prosperity effects of the policies on the political class, but not those outside that circle.
Nigeria has more public sector workers than the large informal sector, which also depends on the former. Even after the minimum wage approval of 2024, the country’s wages and salaries are among the lowest in Africa. Yet, we have seen many situations where workers are not paid on time or regularly. Or where contractors are not paid for the job done in time or at all until they protest. That is, a situation in which money does not circulate and is not allowed to perform its primary function of a medium of exchange. Where money is not allowed to perform this function, the economy cannot grow as productivity will be low and consumption, which is a prerequisite for production, will also be low.
Transport costs are still high, and the same with prices of medicines and healthcare generally. Farmers cannot, in many cases, particularly in the northern parts of the country, afford to buy fertilisers for agriculture, and we cannot continue to import food, as this will soon dampen the spirit of the farmers to produce. Transportation costs, even in the towns and cities, are still quite expensive, just as the cost of power and telecommunication. Most citizens in the middle- and lower-income groups spend over 80 per cent of their meagre incomes on meeting basic needs. So, if this budget is about shared prosperity, it should be truly so. The suffering is still there.
A typical example one can cite, and which can serve as a barometer for what happens regularly in some states, is the FCT case. There have been two major protests about money by different groups. Contractors have protested nonpayment of their entitlements months after completing their assigned jobs. The workers have also protested nonpayment of their emoluments. The minister, in his typical arrogant style, not only waved aside those protests but also threatened to send protesters to jail. What manner of leadership? Let us ask if he does not get his salary and other emoluments regularly.
This is typical of what goes on daily in many states where workers and contractors just keep quiet because if they lose their job due to protest, it may be difficult to get another, or, for contractors, they may not be able to secure new contracts. How justifiable is it that workers and contractors will be owed money in a country where you see people in government and in the corridors of power displaying wealth unabashedly? Where can we feel the presence of money? The Minister of the FCT, Nyesome Wike, was saying, in January 2026, that the ministry had cleared the November 2025 salary, and that the December 2025 salary was in the process of being cleared! For every government worker, there are about eight dependents. Those are the micro people who care less about the macroeconomic data we are displaying.
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