Amid economic crisis and protests, Nigerians mark 64 years of independence with discontent

Young people yearn for a ‘new and productive Nigeria’ that prioritises the well-being of its citizens

Originally published on Global Voices

As Nigeria celebrated its 64th independence anniversary on Tuesday, October 1, thousands of citizens protested in the country’s capital, Abuja, and across major cities, including Lagos and Port Harcourt. The protest, tagged “FearlessInOctober,” was organised on social media but was dispersed by police firing tear gas at the protesters.

October 1st Protest: Nigerians protest against the bad government on Independence Day at the Ikeja under bridge.#October1 #EndbadGovernment #Protest #nigeria pic.twitter.com/shU8h9oJHB

— SNOW TV® RC 3662284 (@OfficialSnowtv) October 1, 2024

As usual, October 1 was observed as a public holiday as part of the annual commemoration of the nation’s independence from British rule on October 1, 1960. Previously celebrated at the Eagle Square in the capital city, Abuja, the Independence Day traditional ceremony was moved to the Aso Villa in October 2023. The Secretary to the Government of the Federation, George Akume, announced that the anniversary would be observed in a low-key manner because of the tumultuous economic state.

A number of Nigerians expressed their frustrations on X (formerly Twitter):

Independence my foot . The colonial masters are even better than we the owners of the country. We are ruled by syndicates rather than governments. There was a country . APC has ruined the little democracy we had left .#protest #IndependenceDay pic.twitter.com/UZ1B8amuj2

— Ghost Of Trafford (@ghostoftrafford) October 1, 2024

The presidential candidate of the Labour Party in the 2023 general election, Peter Obi, urged leaders and citizens alike to reflect deeply on the country’s current state. 

In a statement on his X account, he said: “For me, this should also be a day of sober reflection for every Nigerian, especially for us, the leaders, whose actions and inactions have contributed to the stagnation and glaring failures we are witnessing at present.” He further emphasised the need for a “New and Productive Nigeria” that prioritises the well-being of its citizens. 

Economic crisis and challenges

Nigeria, Africa’s most populous nation, is grappling with its worst economic crisis in decades, which has led to a significant increase in the prices of staple foods nationwide. 

President Bola Ahmed Tinubu has faced criticism for his twin policies of petrol subsidy removal and the unification of foreign exchange rates, which many Nigerians believe have fueled unprecedented inflation and soaring living and energy costs. Energy costs have more than tripled since President Tinubu assumed office on May 29, 2023. Petrol prices per litre surged from around NGN 200 (USD 0.12) to over NGN 1,000 (USD 0.60) while electricity tariffs quadrupled, severely impacting both the manufacturing sector and the finances of Nigerian households.

In a survey conducted by the Central Bank of Nigeria (CBN) from July 22 to 26, 2024, inflation is expected to force Nigerian households to spend a larger proportion of their income on food. The Household Expectation Survey, drawn from a sample size of 1,665 households across the 36 states and the Federal Capital Territory from the NBS master sample list, had a response rate of 99.7 percent. According to the National Bureau of Statistics (NBS), the inflation rate is currently at 32.15 percent, with food inflation rising to 39.5 percent.

In a televised Independence Day broadcast, President Tinubu stated that Nigeria must choose between reform for progress and prosperity or continuing with business as usual and risking collapse. He emphasized that his administration, which took over leadership 16 months ago, is committed to reforming the political economy and defence architecture of the country.

“While we celebrate the progress we have made as a people over the last sixty-four years, we must also recognize some of our missed opportunities and mistakes of the past. If we are to become one of the greatest nations on earth, as God has destined us to be, we must not allow our mistakes to follow us into the future,” he said.

He lamented that Nigeria is in a precarious situation because of past missteps, urging citizens not to let these errors shape the future. The president added that his government had eliminated over 300 Boko Haram and “bandit commanders“ in the northeast and northwest, among other regions. 

He further noted that ongoing economic reforms have attracted over USD 30 billion in direct foreign investment over the past year.

Hope for the future

During his Independence Day broadcast, President Tinubu announced the convocation of a “National Youth Conference.” He said the conference would converge for 30 days as a platform to address the diverse challenges confronting young Nigerians in the country, who constitute over 60 percent of Nigeria’s population. 

This decision was likely influenced by the growing unrest among youths across the country, which has led to continued public protests since the #EndSARS protest in 2020 and the #EndBadGovernance protest in August 2024.

In celebration of Nigeria's 64th Independence Day on October 1, Apple Music revealed the top ten most streamed songs and albums of all time by Nigerian artists. This initiative celebrates the success of Nigerian artists on the digital streaming platform, showcasing the most streamed Nigerian artists and albums. Wizkid’s “Made in Lagos” takes the top spot, followed closely by Burna Boy with four albums on the list.

Nigeria’s music industry has grown in the past decade to become one of the country’s most vibrant sectors, contributing over USD 2 billion in revenue per year to the national economy. In its projections, it is expected to reach a significant USD 12.9 billion by 2027, according to a report by PriceWaterhouseCoopers.

Similarly, Nollywood, the second largest film industry in the world, generates over USD 660 million annually, creating millions of jobs, particularly for younger Nigerians.

Despite the challenging economic circumstances in the country, Nigeria’s creative industries remain a beacon of hope for Africa’s most populous nation.

Written by Adesewa Olofinko