President Bola Ahmed Tinubu has openly admitted that the economic hardship plaguing Nigeria under his administration has been so severe that he almost stopped watching the news or reading newspapers.
The president made this candid remark during a visit to Katsina State over the weekend, reflecting on the challenges he has faced since assuming office.
"I almost ran away from watching the news or reading the newspapers," Tinubu said, adding, “I just used courage and stayed put on my decisions, believing that the ability of a leader to take a decision at the right time is the hallmark of leadership.”
Tinubu defended the tough economic decisions taken by his administration, insisting they were necessary and already beginning to yield positive results.
"We took it, we stayed with it, and it will be rewarding. It is already bearing fruits," he told a gathering of stakeholders and government officials.
The president maintained that Nigeria has "turned the corner" and is on the road to recovery, despite the painful sacrifices Nigerians have endured in recent months.
However, Tinubu’s optimism stands in stark contrast to multiple economic indicators and the lived experiences of ordinary citizens. A report by the Central Bank of Nigeria (CBN), released on March 31, 2025, paints a grim picture of the country’s economic health.
According to the CBN’s Q4 2024 Economic Report, Nigeria’s inflation surged to 34.80% year-on-year — up from 32.70% in the previous quarter — driven by rising energy prices, currency depreciation, insecurity, and infrastructure deficits.
“Inflation remained broadly distributed across the components of the CPI basket… with 74.62% of items exceeding the historical average,” the report revealed.
While the CBN predicts a gradual moderation in inflation from 2025, the current reality for millions of Nigerians is one of increasing poverty, hunger, and uncertainty.
The National Bureau of Statistics (NBS) had earlier reported that food inflation alone stood at 26.08% in January 2025. Compounding the crisis is the worsening food insecurity gripping Nigeria and the broader West and Central African regions.
A recent report from SBM Intelligence estimates that over 40 million people are already struggling to feed themselves across the region — a number projected to rise to 52.7 million by mid-2025.
Nigeria is bearing the brunt of this crisis. In the northern parts of the country, particularly in conflict-ridden areas, 31% of women aged 15-49 are currently malnourished. Attacks on farmers in Benue, Borno, and Plateau States continue to disrupt agriculture and local food supply chains, deepening the hunger crisis.
The economic pressure is also reflected in everyday food prices. According to the SBM Jollof Index — which tracks the cost of cooking jollof rice — the national average price has jumped by 19%, rising from ₦21,300 in September 2024 to ₦25,486 by March 2025.
Analysts argue that unless immediate and more targeted policy interventions are made to address insecurity, inflation, and food shortages, the president’s promise of recovery may remain out of reach for many Nigerians.
While Tinubu may express confidence in his administration’s long-term vision, his own words reflect the immense strain the nation is under — a hardship so intense, even its commander-in-chief admits he nearly turned away.