Several Nigerians on Monday, February 19th, 2024, took to the streets to protest the cost-of-living crisis and hardship.
The protests were held in the Nigerian cities of Oyo and Ibadan – two weeks after a similar one in northern Nigeria.
“End Tinubu government,”
“This is not the democracy we hope,”
“End hardship” was one of the messages displayed by the irate Nigerians.
Calls for Tinubu to resign
Today’s protest comes after some governors from the People’s Democratic Party (PDP), Nigeria’s largest opposition party, urged President Bola Tinubu to resign. They made the call last week, citing the country’s economic challenges.
But Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has labelled the calls for resignation as “an attempt at distraction.”
On Sunday, Mr. Idris said that President Tinubu has no intention of resigning and possesses the capability to address the economic difficulties facing the nation.
“President Tinubu is not and will never be overwhelmed by the current challenges the country is facing. He will not abdicate his responsibilities,” stated Mr. Idris in a statement.
“He will courageously continue to wrestle with the challenges and surmount them, laying a durable foundation for the new Nigeria that is emerging,” he added.
Is Nigeria in recession?
But many have taken the assurances of Idris with a pinch of salt.
The value of the local currency is at an all-time low, and residents are struggling to pay for basic necessities. Nigeria is currently going through its worst economic crisis in years.
When President Bola Tinubu was sworn in on May 29th, he promised a new dawn for Nigeria, improved living standards, democracy, and development.
But the latest government statistics released Thursday showed the inflation rate in January rose to 29.9%, its highest since 1996.
Nigeria’s currency, the naira, has also plummeted from 1,524 to $1 on Friday, reflecting a 230% loss of value in the last year.
The African Development Bank warned on Friday that rising fuel and food prices could lead to social unrest in Nigeria, and today’s protest is evidence of that.
In its economic outlook for this year, the bank warned that other countries, including Kenya, Ethiopia, and Angola, could face similar problems.
