By Anamati Inyang, December 29, 2025
Nigeria’s economy today stands at a delicate crossroads, shaped by painful reforms, rising living costs, cautious optimism about long term recovery.
For millions of Nigerians, economic conversations are no longer abstract policy debates, rather daily realities felt at the market places, fuel stations, workplaces, homes.
In the past years, the removal of fuel subsidy, the unification of the foreign exchange market have redefined Nigeria’s economic landscape.
While government officials describe these steps as necessary corrections to years of distortion, its immediate impact on citizens has been severe.
Fuel prices have surged, transportation costs have doubled in many cities, food inflation has pushed basic staples beyond the reach of an average household.
Inflation remains one of the most visible indicators of economic strain.
Prices of essential commodities, food items have climbed steadily, eroding purchasing power.
For workers whose salaries have remained unchanged, survival has become a daily negotiation.
Small businesses are also under pressure, struggling with high energy costs, unstable power supply, reduced consumer spending.
The naira has experienced significant depreciation, increasing the cost of imported goods and raw materials.
This has affected manufacturers, many of whom rely on imports to sustain production.
As a result, some factories have scaled down operations, while others have shut their doors, entirely, contributing to job losses, rise in unemployment.
Despite these challenges, there are signs which suggest potential economic stabilization if the right steps are sustained.
Government revenue has improved following fuel subsidy removal, official figures indicate increased earnings from oil exports and taxation.
There is also renewed interest from foreign investors who view Nigeria’s reforms as a signal of long term seriousness, even if the short term outlook remains harsh.
The agricultural sector continues to hold promise, especially as food security has become a national priority.
Increased local production, if properly supported with access to credit, security, infrastructure – could reduce dependence on imports, help tame food inflation. Similarly, the digital, creative economies remain resilient, driven largely by Nigeria’s youthful population.
However, economic reform without social protection risks deepening inequality.
Many Nigerians feel excluded from the promised future benefits of current policies. Calls for expanded palliatives, wage reviews, and targeted support for the most vulnerable have grown louder.
Citizens are not necessarily opposed to reform, rather they demand compassion, transparency, visible effort towards easing their suffering.
Ultimately, the state of Nigeria’s economy is a mix of pain, possibility.
The path to recovery will depend not only on sound policies, but also on leadership that listens, adapts, prioritizes the welfare of its people.
Without inclusive growth and accountability, economic statistics will continue to clash with lived realities.
For Nigeria to truly move forward, economic progress must be felt beyond government reports, elite boardrooms.
It must reflect in affordable food, stable jobs, functional infrastructure, renewed hope for the common Nigerian. Only then can the economy be said to be on a genuine path to recovery.
