Nigeria’s Revenue Tripled in 2023—So Why Are We Still Struggling?

Government revenue has risen by over 300% since this administration began. States and local bodies now collect more than three times what they did in 2022. Oil and gas revenue has fallen from over 80% to under 20%, broadening the revenue base. Civil servants can demand higher pay, and more contracts are fueling cash flow at all government levels. Yet insecurity remains unchecked. Attacks persist in many communities, and traditional leaders have not rallied public protest. Power outages are still widespread. The cost of living is climbing in major cities, reflecting global trends in high-income regions. While Nigeria faces serious challenges, rising poverty is not the main issue. Instead, insecurity, erratic electricity supply, and urban living costs demand urgent attention.

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