Nigeria needs urgent policy reset to prevent deeper instability- Prof. Uba
BY MOTOLANI OSENI
Development economist and policy strategist, Prof. Chiwuike Uba, has urged the Nigerian government to urgently recalibrate its policy direction, warning that the country risks further economic and social deterioration without a decisive shift in priorities. In a policy advisory released in Enugu, the Chairman of the Board of the ACUF Initiative for Policy and Governance outlined a comprehensive agenda to reposition Nigeria for inclusive and sustainable growth.
Prof. Uba decried the continued mismatch between national challenges and government responses, citing spiralling debt, mass poverty, persistent insecurity, record unemployment, and worsening macroeconomic instability. He argued that Nigeria’s current trajectory reflects a systemic failure in policy design and implementation.
“This is a defining moment for Nigeria,” Uba said. “The choices we make now will determine whether we build national resilience or descend further into instability.”
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Referencing the April 2025 Africa’s Pulse report, Uba said Nigeria’s economy continues to lag behind its regional peers, despite abundant resources. He criticised overreliance on crude oil, which accounts for more than 75 per cent of foreign exchange earnings, and warned that underinvestment in agriculture and manufacturing is perpetuating economic stagnation. He identified poor infrastructure, weak policy coordination, and regulatory bottlenecks as structural constraints holding back diversification.
To address these challenges, Uba proposed a multi-pronged strategy anchored on sectoral reforms, massive investment in human capital, responsible debt management, and improved governance. He called for targeted agricultural support, regional industrial clusters, and incentives for SMEs and tech innovators. On education and health, he recommended setting aside 10 per cent and 8 per cent of the national budget, respectively, along with a dedicated 1 per cent of GDP for vocational and technical training nationwide.
He strongly criticised Nigeria’s security spending, noting that over ₦40 trillion had been expended in the past decade with little improvement in public safety. In 2025 alone, ₦6.11 trillion was allocated to defence and security, more than what was jointly assigned to education, health, and skills development. “This reflects a fundamental misdiagnosis of insecurity. You cannot bomb your way out of poverty,” he said.
On job creation, Uba described Nigeria’s 33.3 per cent unemployment rate—and 42 per cent among youth—as a national emergency. He proposed a National Job Creation Corps that would absorb young Nigerians into sectors such as agriculture, construction, digital services, and renewable energy. He also advocated for strengthening anti-corruption agencies, digitising public service delivery, and increasing transparency through real-time fiscal dashboards.
While commending the Tinubu administration for politically bold moves such as fuel subsidy removal and exchange rate unification, Uba argued that poor sequencing and lack of social cushioning worsened the cost-of-living crisis. He noted that abrupt reforms without institutional preparedness led to inflation spikes, food price surges, and deeper hardship for vulnerable groups.
Uba advised that future reforms should be phased, with advanced investments in social protection, FX market stability, and productive sectors. “It’s not just about what is done, but how it’s done. Reform sequencing is as critical as the reform itself,” he warned.
He concluded by calling for a new development compact focused on inclusive growth, national unity, and accountable governance. “Nigeria doesn’t just need more money. It needs better ideas, better governance, and better delivery. We must stop treating symptoms and start fixing root causes. That’s the only path to a secure and prosperous Nigeria.”
