Tinubu’s Reforms Are Painful, but Abandoning Them Could Cost Nigeria More

I learned the value of delayed gratification from my mother, who saved carefully to pay for my education. Years later, when my family faced a cash shortage, we paid our staff before spending on Christmas celebrations. The sacrifice helped protect our business and let us celebrate later. I see a similar principle in President Tinubu’s economic reforms: hardship today, I argue, may help prevent greater problems in the future. I defend the removal of fuel subsidies and changes to the foreign-exchange system, arguing that the old arrangements placed a heavy burden on public finances and created opportunities for abuse. I also point to increased revenue for states, developments in the stock market, credit-rating assessments, student loans and infrastructure projects as signs of progress. I believe the government should explain the reforms more clearly and that Nigerians should also hold state and local leaders accountable for how they use public funds. I recognise that the reforms have caused real hardship and that the government must address wasteful spending, corruption and extravagant political lifestyles. States and local governments also have responsibilities in areas such as roads, education, agriculture and electricity. In my view, however, returning to fuel subsidies would risk worsening the country’s economic problems. My central point is that difficult changes may require sacrifices now for future benefits. The reforms are not perfect, and Nigerians deserve compassion and accountability, but I believe abandoning them could leave the country worse off.

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