Yesterday, Tuesday  December 31, marked the end of year 2024. For most Nigerians, it was obviously a chequered year characterised by the good and the not-so-good; a year of mixed progress and problems. 

The year began with Nigerians full of hope that the new Federal Government inaugurated in May 2023 would live up to the promises as encapsulated in its Renewed Hope agenda. The belief was that its coming would banish the unmitigated suffering and nightmares experienced during the eight years of the Muhammadu Buhari administration. Unfortunately, the expectations of a better life under the new administration were short-lived, no thanks to President Bola Tinubu’s peremptory removal of petrol subsidy soon after he was sworn into office. That decision triggered an economic crisis that has stripped Nigerians of their purchasing power. 

As if that was not bad enough, the administration had followed up with the floating of the Naira, an action that made it vulnerable as it has been on a free fall in value since then. With an economy almost entirely dependent on importation, it was not long before cost of production shot through the roof as local industries battled with the challenge of procuring scarce foreign exchange for their operations. As expected, the long-suffering Nigerian consumers have continued to bear the brunt of these developments on account of sky-rocketing prices of goods and services.   

For a fact, the combined consequences of fuel subsidy removal, naira flotation and electricity tariff hike left the economy almost prostrate and in the process took a high toll on most Nigerians, with poverty ravaging the land. To make matters worse, in spite of the best efforts of government and the armed forces, insecurity continued to ravage parts of the country, especially the North where bandits forced farmers off their farms, making it impossible for them to produce food for the populace, thus worsening hunger in the country.

With no respite in sight, some angry Nigerians took to the streets to protest the ravaging hunger in the land.

2024 will also be remembered as the year many Nigerians, who could not endure the hardship and suffering, left the country in frustration in search of greener pastures, a development that is now known as the Japa Syndrome.    

Another ugly spectre that defined the poverty in the land was the tragic stampedes at palliative distribution centres in Oyo, Anambra and the Federal Capital territory, Abuja, where 67 lives were lost.

But 2024 was not without some positive developments in Nigeria. Particularly remarkable is the coming on stream of the Dangote Refinery, a private concern; followed by the revival of the Port Harcourt and Warri refineries. Their combined operations are believed to have created some measure of competition that will soon drive down the pump prices of refined petroleum products.

So, as a new journey begins today in 2025, we urge that government should take stock of all the negatives and mistakes of the past year and immediately fashion out policies and programmes to drive a recovery process for the country. Government should introduce programmes to help the people deal with the lingering effects of fuel subsidy removal and naira flotation. It should also intensify efforts to contain insecurity in affected parts of the country.

To our numerous esteemed readers, we say: Happy New Year!