By Yekini Lukmon
07065312924
As Nigeria marks its 66th Independence Anniversary, it is a moment to reflect on the journey so far, count our blessings and, more importantly, consider how to transform the nation’s enormous potential into shared prosperity.
Nigeria is a country that cannot simply be wished away. It is richly endowed with natural and human resources capable of supporting a strong and diversified economy if properly harnessed and efficiently managed. Independence anniversaries should therefore not merely become occasions for lamentation or condemnation of the country and its leaders. They should also provide opportunities for constructive reflection, national renewal and a renewed commitment to building the Nigeria we desire.
The way forward requires deliberate and inclusive policies that benefit both the rich and the poor. Economic policies should not disproportionately favour one segment of society while leaving another struggling without sustainable means of survival. A healthy economy must create opportunities across different social and economic classes.
Diversifying Beyond Oil
Economic diversification beyond oil dependency remains crucial to Nigeria’s long-term development. Agriculture, in particular, deserves renewed attention. Nigeria has historically been known for its agricultural strength, and there is a need to return to the drawing board, identify what worked in the past, examine successful models elsewhere and modernise the sector.
A productive agricultural sector can stimulate manufacturing, create employment, strengthen food security and increase the contribution of non-oil sectors to the Gross Domestic Product (GDP). Agriculture should no longer be treated merely as a subsistence activity but as a major component of Nigeria’s industrial and economic transformation.
This will require deliberate investment in mechanised farming, storage, transportation, processing and access to markets. When agricultural production is connected to manufacturing and value-added processing, the country can retain more value within its economy while creating opportunities for millions of Nigerians.
Human Capital Must Remain Central
Economic restructuring cannot be complete without significant investment in human capital. Education, healthcare and skills development must remain central to national development.
Government at all levels must scale up funding and pursue meaningful reforms in the education sector. Nigeria needs an education system that responds to contemporary global realities and equips young people with the knowledge, skills and adaptability required by today's labour market.
Education reform, however, cannot succeed without adequate and sustainable funding. The objective should not simply be to increase enrolment but to improve learning outcomes, strengthen infrastructure, support teachers and align education with the demands of a changing economy.
Healthcare infrastructure must equally receive sustained attention, while digital skills development should be expanded to empower Nigeria's youthful population to participate meaningfully in the digital economy.
Accountability and Responsible Leadership
All these ambitions require genuine, accountable leadership.
Leadership goes beyond making policies and governing institutions. It also involves accountability for projects proposed, funded and implemented in the public interest. Strong institutions are essential to national development because they strengthen accountability, promote transparency and provide safeguards against corruption.
Public spending must be transparent enough for citizens to understand how national resources are being deployed. Macroeconomic reforms can only have lasting meaning when their benefits eventually translate into visible improvements in citizens' welfare.
Nigeria has witnessed a number of economic policy initiatives in recent years. The critical issue is how quickly and effectively the benefits of such policies can translate into improved living conditions for ordinary Nigerians.
Inflation and the Burden on Households
One of the most pressing challenges confronting Nigerians is the rising cost of living. Inflation has placed considerable pressure on household budgets, while many families increasingly struggle to meet basic needs.
The removal of fuel subsidies and currency adjustments have been identified by various analysts as factors that contributed to higher costs and reduced purchasing power. However, the debate should go beyond whether subsidy removal was necessary or unnecessary. It should also examine the manner, timing and social protection measures accompanying such reforms.
The consequences of inflation are particularly visible in transportation, food prices and the cost of doing business. Yet government cannot bear the entire responsibility for every price increase.
There are instances where citizens and businesses also take advantage of rising demand or uncertainty to increase prices beyond what changing costs may reasonably justify. Transportation provides a familiar example: passengers may experience sudden fare increases on the same route simply because demand has increased.
This phenomenon occurs across different sectors of the economy. While government must take responsibility for sound economic management, citizens and businesses must equally recognise their responsibility in preventing unnecessary exploitation and contributing to an inflationary environment.
Infrastructure and Productivity
Nigeria's unreliable power supply, inadequate transport infrastructure and logistical challenges have continued to affect productivity.
These are not new challenges. Successive administrations have identified infrastructure as a priority, but the scale and sustainability of intervention remain important considerations.
The current efforts in the power sector require sustained attention and further improvement. At the federal, state and local levels, continued investment in road infrastructure and transportation networks is equally important.
Good infrastructure reduces the cost of doing business, connects producers to markets and makes communities more attractive to investors. It also provides indigenous businesses and emerging industries with a better environment in which to compete.
Infrastructure development should therefore not be viewed merely as the construction of physical structures. It is an investment in productivity, employment, investment and national competitiveness.
Security and National Development
Persistent insecurity in parts of the country also remains a serious obstacle to economic development. Insecurity drains public resources, disrupts businesses, discourages investment and diverts government attention from other development priorities.
Whatever the causes of insecurity, the responsibility of government is to protect lives and property and create an environment where citizens can work, invest and conduct legitimate economic activities without fear.
Security and economic development are closely connected. A country cannot fully realise its economic potential when significant portions of its population remain affected by insecurity.
The Nigeria We Must Build Together
As Nigerians, we must recognise that nation-building is a collective responsibility.
We must work towards a Nigeria where ethnic differences do not become barriers to national unity; where religious differences do not prevent citizens from living and working together; and where tribalism and nepotism do not undermine merit, justice and national interest.
Government must be held accountable, but citizens must also recognise their own responsibilities. We cannot demand responsible leadership while simultaneously encouraging corruption, indiscipline, dishonesty and disregard for public property.
Nigeria belongs to all of us.
The responsibility for building the country does not rest solely on the President, governors, lawmakers or local government officials. It also rests on teachers, farmers, traders, professionals, civil servants, business owners, students, community leaders and every citizen who contributes to society.
At 66, Nigeria's greatest asset remains its people and the enormous potential of the nation.
The task before us is therefore not simply to complain about what is wrong, but to contribute to what can be made right. Let us support policies that advance national development, demand accountability where it is required, reject practices that undermine our collective progress and contribute positively within our communities.
From our homes and neighbourhoods to our schools, workplaces and institutions, every Nigerian has a role to play.
Nigeria at 66 must be a nation of renewed hope, shared responsibility and purposeful development. The Nigeria we desire will not be built by government alone. It will be built by all of us.
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