An opinion article on how corruption, reckless borrowing, and inflation have destroyed the lives of ordinary Nigerians while enriching the political elite.
The Vanishing Value of a Paycheck
Once upon a time in Nigeria, a worker’s salary meant something. Before 2015, a university lecturer, civil servant, or nurse could live modestly yet decently. A paycheck could cover rent, food, fuel, and transportation.
By 2025, that reality is gone. A month’s salary now barely sustains a family for three days. The naira has collapsed, food prices have tripled, and transport costs have skyrocketed. Inflation, reckless policies, and corruption have made survival a full-time job for ordinary Nigerians.
Meanwhile, those at the top—the political elite—live untouched. They jet abroad for medical checkups, fund lavish weddings, and ride in convoys of SUVs bought with public money. In the same country where millions cannot afford garri, the political class has turned governance into a gateway to personal fortune.
The Politics of Enrichment and Selective Justice
Public office in Nigeria is no longer about service—it’s about self-preservation. Politicians spend billions to get elected, not to serve but to recoup their “investment.”
When they are caught looting, they are rarely punished. Instead, they are rewarded with pardons, appointments, or quiet settlements.
Take Joshua Dariye of Plateau and Jolly Nyame of Taraba—both convicted of embezzling state funds and sentenced to prison. Nigerians hailed their conviction as a new dawn of accountability. Yet, in 2022, then-President Muhammadu Buhari granted them presidential pardon, turning justice into a political favor.
Then came the case of Ahmed Idris, the Accountant General of the Federation, accused of stealing ₦109 billion through fake contracts. The trial has dragged endlessly, and Idris still enjoys freedom.
Or Godwin Emefiele, the former Central Bank Governor, whose disastrous monetary policies wrecked the naira, bankrupted small businesses, and drove inflation to a 30-year high. He faces charges, yes—but justice in Nigeria often stops at the headlines.
This selective justice tells a sad story: in Nigeria, when the poor steal, they go to jail; when the rich steal, they go to lunch.
The 2024 Inflation Storm
By 2024, Nigeria’s economy entered a new phase of hardship. The inflation rate soared past 30%, the highest in two decades. Basic food items like rice, garri, yam, and beans tripled in price. The naira continued its freefall, crashing past ₦1,500 to the dollar.
For the working class, this was the final blow. Salaries stagnated while prices exploded. Teachers, nurses, and civil servants could no longer afford the basics of life. Even middle-class professionals—bankers, journalists, and university staff—slipped into poverty.
The Central Bank’s policy failures and government’s reckless spending destroyed whatever economic stability Nigerians once had. The poor tightened their belts; the politicians loosened theirs.
Mountains of Debt and the Era of Borrowed Misery
Nigeria’s crisis was made worse by reckless borrowing. From Buhari’s administration to President Bola Tinubu’s era, the country has drowned itself in loans with little to show for it.
By 2025, Nigeria’s total debt had climbed to over ₦120 trillion, with billions borrowed even to pay salaries and run government offices. The Buhari administration borrowed heavily to fund infrastructure that rarely got completed, while Tinubu’s government continues the borrowing spree under the pretext of “economic reform.”
The loans did not translate into jobs, roads, or reliable power. Instead, they enriched contractors, inflated political budgets, and deepened dependence on foreign creditors.
Every loan taken today mortgages the future of generations yet unborn. While politicians borrow in billions, the average Nigerian borrows to eat
The Return of Subsidy—by Another Name
Tinubu’s government made headlines in 2023 for announcing the removal of fuel subsidy, declaring it a necessary sacrifice for national progress. Nigerians believed—until they realized the subsidy had quietly returned through the back door.
The cost of petrol kept fluctuating, and government still paid “price stabilization” funds under different names. Meanwhile, transport costs skyrocketed, and food prices continued to rise.
So while the poor tightened their belts, the government loosened its own—spending billions on luxury SUVs for legislators and new presidential jets for the elite.
The message was clear: sacrifice is for the masses, comfort is for the ruling class.
A Tale of Two Nigerias
Nigeria today is divided into two parallel worlds.
In one Nigeria, the rich live behind high fences, guarded by security escorts, sustained by state privileges. They travel abroad for medical care, educate their children overseas, and collect allowances in dollars.
In the other Nigeria—the real Nigeria—families skip meals, pensioners die waiting for payments, and parents withdraw children from school because they can’t afford fees.
Inflation, loans, and corruption have turned the once-hopeful working class into economic refugees in their own country. The young flee abroad under the “Japa” movement, not for adventure but for survival
The Hypocrisy of Anti-Corruption
President Buhari promised to “kill corruption before it kills Nigeria.” Instead, corruption flourished under his watch—protected by ethnicity, religion, and political connections.
Under his successor, Bola Tinubu, the system remains unchanged. The same political culture of impunity continues, and the same elite class rotates power among themselves.
While the EFCC parades small-time fraudsters, billions vanish through inflated contracts and “constituency projects” that exist only on paper.
When the powerful are arrested, it’s for headlines. When the poor are arrested, it’s for punishment.
The Working Class and the Death of Dignity
The working class—the real engine of Nigeria—has been crushed.
Lecturers spend years waiting for unpaid allowances.
Civil servants earn wages that can’t buy a week’s groceries.
Factory workers are laid off as industries close.
Doctors flee abroad, leaving hospitals empty.
The result is a nation losing not just wealth, but dignity. A country where work no longer pays, honesty no longer matters, and patriotism feels like punishment.
The Way Forward
Nigeria’s collapse is not inevitable—it is man-made. But fixing it will require more than talk; it will demand courage and honesty.
We must:
Cut political salaries and perks to reflect economic reality.
Enforce true accountability—no sacred cows, no selective justice.
Reinvest in local production to reduce dependence on imports.
Stabilize the naira through responsible monetary policy.
Peg worker salaries to inflation and cost of living.
Audit and publicly account for every foreign loan.
Until these are done, the cycle of enrichment and suffering will continue—rich politicians growing fatter, while the people grow hungrier
Conclusion: A Nation at the Breaking Point
Nigeria’s story today is a tale of betrayal.
Governors convicted of theft walk free with presidential blessings.
A central bank governor accused of economic sabotage lives in comfort.
An accountant general who stole billions still smiles for the cameras.
Meanwhile, the ordinary Nigerian cannot afford three square meals. Inflation devours wages. Loans enslave the next generation. And the so-called reforms that were meant to save the nation are sweeping away what little remains of its civilization.
The tragedy of Nigeria is not that it lacks wealth—but that it allows greed to destroy hope.
Until the political class is made to feel the pain of the people, the country will remain rich in potential but poor in reality—a land of plenty, ruled by the greedy, and endured by the hungry.
About the Author
Lawan Musa Danlami ( Baba Lawan) is a political analyst and social commentator who writes on governance, corruption, and the politics of inequality in Nigeria.
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Opinion