Nigeria’s president launches re-election manifesto amid high living costs
By Nana Karikari, Senior International Affairs and Political Analyst Nigerian President Bola Ahmed Tinubu launched his re-election manifesto on November 10, seeking to convince cost-weary voters that his sweeping economic overhaul will soon yield widespread relief. Titled From Reform to Prosperity, the All Progressives Congress (APC) policy blueprint pledges 6% annual economic growth by 2031, […]
On November 10, Nigerian President Bola Ahmed Tinubu unveiled his re-election manifesto, titled "From Reform to Prosperity," under the All Progressives Congress (APC) banner. The blueprint pledges 6% annual economic growth by 2031, 78,000 new security personnel, and 200,000 affordable homes. The incumbent faces a tough political test, defending a first term marked by rising living costs against top challengers like former Vice-President Atiku Abubakar and Peter Obi.
Tinubu's administration overhauled fuel subsidies, unified foreign exchange windows, and revamped tax policies in Nigeria, Africa's top oil producer. These measures stabilized public finances, earning praise from international lenders such as the World Bank and the International Monetary Fund. However, the initial economic overhaul brought immediate financial distress for everyday citizens.
Joshua Osiyemi of the BudgIT Foundation noted that the government aimed to rescue a nation on the brink of severe cutbacks. Fuel prices skyrocketed, and basic goods' prices skyrocketed, making it difficult for most Nigerian families to survive on 10,000 naira (about GHS 88) a day.
Tinubu claims that scrapping fuel subsidies saved the treasury over one trillion naira within two months, funding a 125-billion-naira relief package of business grants and manufacturing loans. Meanwhile, Atiku Abubakar has vowed to restore subsidies to make life easier and affordable for Nigerians. Analysts doubt whether the national budget can sustain such a reversal, as the current budget allocates 15.8tn naira towards debt servicing, leaving little room for a return to subsidies.
Insecurity threatens Tinubu's growth targets, with rural cultivators fearful of violence, making food production challenging. Tinubu's manifesto relies on boosting oil output and domestic farming to halve youth unemployment and achieve the 6% growth target. However, the APC's energy pledge lacks details on funding, leaving investors uncertain about the sector's profitability. Similarly, the promise to construct 200,000 affordable homes remains incomplete due to power deficits and broken industrial expansion prospects.
Written by urgent.news from GBC Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
