Economy
#EndBadGovernance protest continues unabated, as organizers snub Tinubu
The #EndBadGovernanceInNigeria, #EndHunger protest organizers have snubbed President Bola Tinubu, disclosing that they would continue to meet after Monday, August 5, 2024, at Gani Fawehinmi Freedom Park, Ojota, and continue with their agitation.
This is contained in a statement issued by #EndBadGovernanceInNigeria Organising Committee on Sunday.
The Committee was represented by Hassan Taiwo, Ayoyinka Oni, and Adegboyega Adeniji, at Gani Fawehinmi Park in Ojota, Lagos State.
The trio made the remarks after listening attentively to President Tinubu’s broadcast on Sunday.
The regretted that they found it unfortunate that it took him three days of protests to address the nation.
In a nationwide broadcast Sunday morning, Tinubu had asserted that his administration was prepared to listen to and address the concerns of the protesters.
He acknowledged that he had heard their demands “clearly” and will act accordingly.
Tinubu had urged the protesters and organizers to suspend their protesting and create room for dialogue.
He claimed that he had always been open to dialogue and asked the protesters to seize the opportunity.
The organizers remarked that they view the decision to address the nation as “important victory for our movement”.
The statement reads: “Without our courage and determination to defy the odds, even this acknowledgment would not have occurred.
“So far, we have shown that a President is not above the rest of the country,” it added.
The organizers acknowledged the president’s offer for a dialogue.
However, they expressed concern that, at the same time, he had also called for the protest to be suspended.
The statement condemned a situation where thugs attacked protesters who gathered for Sunday morning worship, injuring many.
It continued: “Therefore, we call on all Nigerian youth and the masses to join us at 7 am at Gani Fawehinmi Park, Ojota, Lagos, tomorrow (Monday), August 5, 2024, which marks Day 5 of the protest.”
The Lagos protest has, so far, been considered peaceful by the state government.
However, a video captured by Channels TV on Sunday showed protesters being chased by hoodlums wielding sticks at Ojota.
This happened just a few hours after the president concluded his address on Sunday.
In a different video that trended over the weekend, a protester was seen struck in the head by a thug.
The incident happened during a live interview with a journalist at the agitation site.
The organizers also called out to the Nigeria Labour Congress (NLC), the Trade Union Congress (TUC), the media, and the Nigerian Bar Association (NBA).
They urged them not to stand idly by in the face of unprovoked attack.
They described the attacks as attempts “to drive us off the streets instead of addressing our demands”.
They added: “As far as we are concerned, the #EndBadGovernance protest stems from the suffering and frustration of ordinary Nigerian youth and people.”
About #EndBadGovernance protest
The End Bad Governance protests, also known by the hashtags #EndBadGovernance or #EndBadGovernanceInNigeria, are ongoing decentralized mass protests in Nigeria.
These demonstrations stem from the rising cost of living in the country, exacerbated by economic hardship and hunger.
The crisis has been described as the “worst economic crisis in a generation”.
It has a record inflation that is especially affecting food prices across the country.
The protests began on July 29, 2024, with demonstrators displaying placards bearing various messages.
Some of the displayed messages had inscriptions such as:
- “Enough is Enough,”
- “Stop Anti-Masses Policies,” and,
- “Fuel Subsidy Must Be Back.”
However, the situation escalated on August 1, 2024, when the Nigerian Army and police attempted to quell the protests.
This resulted in casualties and arrests in many states of the federation.
Despite the challenges, activists continue to push for change, seeking relief from the mounting discomforts caused by economic hardships.
The #EndBadGovernance protest aims to highlight these issues to the Nigerian government.
It also advocates for better governance to benefit the masses.
Economic hardship in Nigeria
Nigeria is currently facing significant economic hardship, which has had a profound impact on the lives of its citizens.
Some of the key factors contributing to this economic hardship include:
1. Inflation:
High inflation rates have led to increased prices of food, housing, and other essential goods, reducing the purchasing power of Nigerians.
2. Unemployment:
High unemployment rates, particularly among young people, have led to widespread poverty and disillusionment.
3. Currency devaluation:
The devaluation of the Naira has made imports more expensive, leading to higher prices for goods and services.
4. Fuel scarcity:
Recurring fuel shortages have disrupted economic activities, causing long queues and increased transportation costs.
5. Power outages:
Frequent power outages have hindered economic productivity and increased costs for businesses and households.
6. Corruption:
Widespread corruption has led to mismanagement of resources, hindering economic development and perpetuating inequality.
7. Dependence on oil exports:
Nigeria’s reliance on oil exports has made it vulnerable to fluctuations in global oil prices, leading to economic instability.
8. Security challenges: Security concerns, such as Boko Haram and banditry, have disrupted economic activities in affected regions.
These factors have resulted in:
- Increased poverty with many Nigerians struggling to afford basic necessities like food, housing, and healthcare.
- Reduced economic growth as economic growth has slowed, making it challenging for the country to achieve its development goals.
- Decreased standard of living which has led to a decline in the standard of living for many Nigerians.
The government has implemented various measures to address these challenges.
The measures include economic reforms, social welfare programs, and infrastructure development projects.
However, according to experts, more needs to be done to address the root causes of economic hardship in Nigeria.
Tinubu’s economic policies
President Bola Ahmed Tinubu has made several economic decisions since taking office in May 2023.
Some of these decisions have adversely affected the economic fortunes of the country.
Some of the policies include:
- Unification of the naira:
Transitioning from a multiple exchange rate system to a unified exchange rate regime to promote transparency and instill confidence in the naira. - Removal of fuel subsidy:
Abolishing the fuel subsidy, which had been a source of corruption and fiscal burden, to free up resources for infrastructure, health, education, and social welfare programs. - Inauguration of the economic council:
Establishing a council to advise on economic policies and reforms, comprising 36 state governors, the CBN governor, and other officials. - Suspension of CBN Governor:
Suspending the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, due to issues including the handling of the naira redesign policy and mismanagement of foreign exchange reserves. - Electricity Bill:
Signing the 2023 Electricity Bill into law to improve the power sector. - Eight-Point Agenda:
Introducing an eight-point agenda focused on addressing socioeconomic challenges.
These include food security, poverty eradication, growth, job creation, access to capital, inclusion, rule of law, and fighting corruption.
These decisions aim to address Nigeria’s economic challenges, but their implementation and effectiveness remain to be seen.
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