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Home » News » Nigeria celebrates independence day amid protests over economic hardship

Nigeria celebrates independence day amid protests over economic hardship

In a televised address, the president called for patience amid tough economy

October 1, 2024
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Nigerians on Tuesday staged mass protests against economic hardship as the West African nation marked its 64th independence anniversary, with its president calling for patience.

Waving placards, the protestors demanded better opportunities and jobs for young people, especially in a country that has some of the world’s highest poverty and hunger levels despite being a top oil producer on the continent.

It is the second mass protest in two months in Africa’s most populous country amid worsening hardship caused by the government’s reforms to save more money and shore up dwindling foreign investments. At least 20 protesters were shot dead and hundreds of others arrested during the last protest in August.

Although the government has defended the economic policies, their immediate impact has contributed to pushing the inflation rate to a 28-year high while the currency languishes at record lows against the dollar.

At least 63% of the population is poor. The government has struggled to create jobs. And the world’s longest war on militancy continues to unfold in its northeast.

“The truth is, there’s nothing worth celebrating about Nigeria,” said Adetayo Babatunde-Daniel, a young entrepreneur who joined the protests.

Nigerian President Bola Tinubu, who was elected in May last year on the promise of renewed hope, defended the reforms as necessary steps for progress that prevented the country’s economic “collapse.”

President Tibubu vows “end of tunnel”

In a televised address, the president called for patience amid tough economy.

Bola Tinubu notably listed security gains and investments in farm machinery among achievements that will help ease the economic pressure.

“I am deeply aware of the struggles many of you face in these challenging times,” the president who took office last year said.

“Our administration knows that many of you struggle with rising costs and the search for meaningful employment. I want to assure you that your voices are heard. As your president, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens.”

The president announced the launch of a National Youth Conference known as “the 30-day Confab” whose recommendations will be considered and implemented.

“We remain mindful of the next generation as we seek to galvanize their creative energy towards a better future. …. Considering this, I am pleased to announce the gathering of a National Youth Conference. This conference will be a platform to address the diverse challenges and opportunities confronting our young people.”

The address came as protests against economic hardship were staged in a few states.

On this market in Lagos, some were disappointed.

“The presidential speech wasn’t a reasonable statement or speech that people will be welcoming. I would expect a lot of things to be announced by the president: how the prices will come to the normal level to sweeten the standard of living,” shopper Olawale regretted.

Tinubu who took office last year, defended the reforms which contributed to pushing the inflation rate to a 28-year high.

He notably cited the reduction of national debt and $30 billion in foreign direct investments.

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