At the latest edition of HEDA Resource Centre’s X-Space conversation, Seun Onigbinde, the Executive Director of BudgIT, delivered a thought-provoking assessment of President Bola Tinubu’s administration, two years into its tenure. Speaking on the theme “Assessing the Socio-Economic Prosperity of Nigerians Under President Tinubu’s First Two Years in Power,” Onigbinde questioned whether the country has truly experienced prosperity especially from the standpoint of everyday Nigerians.
He began by dissecting the government’s twin reforms: fuel subsidy removal and currency devaluation. While these moves have significantly increased government revenues raising FAAC allocations for both federal and state governments, Onigbinde argued that they came at a great cost to the public.
According to him, Nigerians have been left to absorb the shock of skyrocketing inflation, rising transportation costs, and stagnant wages, all without adequate social protection measures. “The government tore off the economic bandage without preparing for the pain,” he said. “There was no structured palliative framework to cushion the effects, and yet government spending remained luxurious.”
He highlighted the failure of most state governments to demonstrate fiscal discipline, lamenting that increased revenues have not translated into tangible improvements in education, health, or agriculture. Instead, the culture of wasteful spending persists. “We still have 42 ministers, lavish convoys, and endless airport projects, while teachers go unpaid and hospitals remain underfunded,” he noted.
On the education front, Onigbinde acknowledged the establishment of the Nigerian Education Loan Fund (NELFUND) as a commendable initiative. However, he argued that it barely scratches the surface. “Access to loans is a short-term fix. The real conversation should be about investment in research, academic infrastructure, and aligning university output with industry needs,” he said.
Turning to solutions, he advocated for deliberate industrial policies, including the development of special economic and agro-processing zones, backed by reliable energy supply and targeted tax incentives. He stressed that without fixing power, Nigeria’s manufacturing sector cannot be globally competitive.
The discussion also touched on voter apathy. Onigbinde warned that political disengagement especially among young Nigerians poses a threat to the country’s democratic future. He encouraged the youth to take electoral participation seriously, saying, “Two bad leaders can ruin 16 years of your life. Politics is not a game it determines the quality of life you’ll have.”
In his closing remarks, he underscored the importance of consistent civic engagement. “We must remain involved between elections. Nigeria cannot be outsourced to the elite or their proxies. Rigorous accountability and citizen action are essential for true national progress.”
The HEDA X-Space program continues to serve as a platform for open dialogue, accountability, and strategic reflection on national issues, drawing voices from across civil society, governance, and the private sector.
