The Pivot Online Editorial
There is an uncomfortable conversation Nigeria must begin having.
As the cost of living continues to squeeze households, businesses struggle with rising operating costs and millions of Nigerians complain about declining purchasing power, it has become politically convenient to place virtually every economic hardship at the feet of President Bola Ahmed Tinubu.
But economics is rarely that simple.
The question Nigerians must ask is not merely: “Is Tinubu responsible for our hardship?”
The more important question is: “What exactly is wrong with Nigeria’s economic structure—and what must we change to permanently escape the cycle?”
The answer requires honesty.
Tinubu did not create Nigeria’s structural economic problems. However, his administration inherited them, chose a painful reform path and must therefore accept full responsibility for whether those reforms eventually produce a more productive, competitive and prosperous economy.
That distinction matters.
THE PAIN IS REAL
Let nobody misunderstand the position of this editorial.
Nigerians are hurting.
Food prices remain a major concern. Transportation costs have increased. Housing is becoming increasingly difficult for ordinary families. Small businesses face high energy, logistics and financing costs. The naira has experienced severe pressure, while inflation has eroded household purchasing power.
These are not theoretical economic indicators. They are realities being experienced in homes, markets, schools and workplaces.
Government cannot dismiss this pain by simply telling citizens to be patient.
But neither should citizens assume that government alone can manufacture prosperity.
That is where the national conversation must change.
NIGERIA HAS A PRODUCTIVITY PROBLEM
Nigeria’s fundamental economic weakness is not simply inflation, exchange rates or fuel prices.
It is low productivity relative to the size of our population and aspirations.
A country cannot sustainably consume what it does not produce.
For decades, Nigeria has operated an economy heavily dependent on crude oil revenues, imported manufactured goods, imported technology, foreign exchange and government redistribution.
We have created a consumption economy without building a sufficiently broad production economy.
We import machinery.
We import finished products.
We import many agricultural products that can be produced locally.
We import technology.
We import expertise.
And then we complain that foreign exchange is scarce.
The economic mathematics is straightforward: when a country consistently demands more foreign currency for imports than it earns from exports, pressure eventually appears in the exchange rate.
The solution cannot permanently be another foreign-exchange intervention.
The solution is production.
THE PRESIDENT CAN CHANGE THE RULES, BUT CITIZENS MUST PLAY THE GAME
This is where Nigerians must confront an uncomfortable reality.
Government has a responsibility to create an enabling environment through sound monetary and fiscal policies, infrastructure, security, education, taxation, regulation and access to capital.
But government cannot employ everybody.
Government cannot create a successful business for every graduate.
Government cannot give every young Nigerian a monthly salary indefinitely.
Government cannot make every citizen financially independent through social intervention.
The private sector must become the principal engine of employment and wealth creation.
And that requires a fundamental shift in mentality.
For too long, our economic aspirations have been disproportionately centred on securing government employment, political appointments or salaried positions.
Those opportunities will never be enough for a population of more than 200 million people.
Nigeria needs millions of job creators, not merely millions of job seekers.
ENTREPRENEURSHIP MUST BECOME AN ECONOMIC IMPERATIVE
Entrepreneurship should no longer be treated merely as a motivational concept for seminars and conferences.
It is an economic necessity.
The Nigerian child must increasingly learn how to identify problems, create solutions, sell value, manage money and build sustainable enterprises.
A young person who can develop an application serving 100,000 Nigerians potentially possesses an economic asset far more scalable than a conventional job.
A farmer who understands modern production, processing, packaging, branding and digital marketing is no longer merely a farmer. He is operating a value chain.
A tailor who understands fashion technology, e-commerce, branding and international distribution can potentially sell beyond Owo, Akure, Lagos or Nigeria.
That is the economic transformation Nigeria needs.
THE NEXT GOLDMINE MAY NOT BE UNDER THE GROUND
Nigeria’s greatest untapped resource may not be crude oil.
It may be its young population.
But demographic advantage becomes economic advantage only when young people are educated, skilled, productive and connected to markets.
This is why Information Technology deserves far more attention.
Software development, cybersecurity, artificial intelligence, data analysis, cloud computing, digital marketing, fintech, e-commerce, graphic design, animation and other technology-enabled services can allow Nigerians to earn from markets far beyond Nigeria.
The internet has changed one fundamental economic equation:
Location is no longer the only determinant of market access.
A young Nigerian sitting in Owo, Akure, Ibadan, Kano or Enugu can potentially provide digital services to a client in London, New York, Dubai or Johannesburg.
That is an economic opportunity previous generations did not possess at this scale.
But opportunity without skills is useless.
SKILLS, NOT CERTIFICATES ALONE
Nigeria must also rethink its obsession with certificates.
A university degree remains valuable, but a certificate without employable competence increasingly has limited economic power.
The economy needs plumbers, electricians, welders, mechanics, fashion designers, agricultural technologists, software developers, solar technicians, builders, digital marketers, medical technicians, food processors, artisans and thousands of other skilled professionals.
Vocational and technical education must therefore be elevated—not treated as education for those who could not attend university.
A skilled technician should be able to build a prosperous career.
A competent artisan should command respect.
A technology entrepreneur should be encouraged.
A farmer using technology and modern management should be regarded as a serious businessperson.
This is how productive economies are built.
BUT GOVERNMENT MUST ALSO DO ITS PART
None of this should become an excuse for government failure.
Entrepreneurship cannot flourish indefinitely under hostile economic conditions.
The Tinubu administration must therefore demonstrate that its difficult reforms are producing measurable structural improvements.
Reforms must ultimately translate into lower inflation, stronger domestic production, greater investment, improved electricity supply, better infrastructure, increased exports, more affordable credit and expanding employment.
The government must also resist the temptation to measure success primarily through policy announcements.
Economic reforms should be judged by outcomes, not speeches.
If businesses are producing more, hiring more people and exporting more, the reforms are working.
If Nigerians are earning more in real terms, the reforms are working.
If productivity is rising faster than population growth, the reforms are working.
If millions remain trapped in declining purchasing power despite impressive macroeconomic statistics, then policymakers must reassess their strategy.
THE NEW SOCIAL CONTRACT
Nigeria needs a new economic social contract.
Government must provide the foundation.
Businesses must invest.
Parents must rethink what they prepare their children for.
Schools must teach employable skills alongside academic knowledge.
Young people must embrace technology, entrepreneurship and continuous learning.
And citizens must increasingly understand that prosperity is ultimately connected to value creation.
We cannot all consume.
Somebody must produce.
We cannot all seek employment.
Somebody must create enterprises.
We cannot all depend on government.
A productive economy requires citizens who can generate value independently of government payrolls.
THE PIVOT’S POSITION
The Pivot Online does not believe Nigerians should ignore the failures or shortcomings of government.
Nor should citizens blindly praise every policy of the Tinubu administration.
Government must be questioned.
Government must be scrutinised.
Government must be held accountable.
But Nigerians must also scrutinise themselves.
The national economic debate cannot permanently revolve around who will provide the next subsidy, appointment, government contract or monthly intervention.
The bigger question is:
How do we build an economy in which millions of Nigerians can create value and earn sustainable incomes without waiting for government?
That is the conversation Nigeria urgently needs.
President Tinubu’s reforms may ultimately succeed or fail based not only on what government does, but on whether those reforms help move Nigeria from a predominantly consumption-driven economy toward a productive, investment-led and export-oriented economy.
But citizens cannot outsource their economic future to Aso Rock.
Parents must prepare children for the economy that is coming—not merely the economy that existed yesterday.
Young Nigerians must acquire skills.
Businesses must innovate.
Farmers must modernise.
Schools must produce problem-solvers.
Entrepreneurs must be supported.
And government must create the environment in which all of these can flourish.
Nigeria’s escape from poverty will not come from politics alone.
It will come when productivity becomes a national culture.
The hard truth is that government can reform the economy.
But only Nigerians can build it.
And the time to start is now.