His Excellency,
Bola Ahmed Tinubu
President, Federal Republic of Nigeria
Aso Rock Villa
Abuja, Nigeria
Your Excellency,
RE: REFLECTIONS ON CURRENT ECONOMIC REALITIES AND A CALL FOR URGENT, PEOPLE-CENTERED ACTION
I write to you today with a deep sense of responsibility, not only as a professional and stakeholder in our nation’s development, but also as a concerned citizen observing the lived realities of everyday Nigerians.
First, let me extend warm birthday wishes to Your Excellency. I sincerely pray for continued strength, wisdom, and clarity of purpose as you steer the affairs of our nation at a time that demands both courage and compassion.
Your administration took a bold and economically consequential step with the removal of fuel subsidy. While it is widely acknowledged that this policy direction had been set in motion prior to your tenure, its implementation under your leadership has had immediate and far-reaching implications on the Nigerian economy.
The direct consequence has been a significant increase in the cost of living. Fuel prices, being foundational to transportation, logistics, and production, have cascaded across all sectors—driving inflation and disproportionately affecting the lower and middle-income populations. For many Nigerians, daily survival has become increasingly difficult.
In parallel, the rapid devaluation of the naira—effectively by nearly threefold within a short period—has further compounded economic strain. This transition, though arguably necessary from a macroeconomic standpoint, caught many individuals and businesses unprepared. Savings have been eroded, operational costs have surged, and planning has become increasingly uncertain. Even for professionals and structured businesses, the shock has been significant.
It is important to acknowledge that despite these challenges, there are indicators of macroeconomic resilience. The Nigerian stock market, for instance, has shown notable strength. However, this growth remains largely disconnected from the realities of the average Nigerian, who does not participate in or benefit directly from capital market gains.
Beyond domestic policy, the nation is also contending with external pressures. The ongoing geopolitical tensions involving Iran, Israel, and the United States have global economic implications—particularly on oil prices and supply chains. For a country like Nigeria, these external shocks translate into further inflationary pressures, worsening the already fragile economic situation at home.
Your Excellency, the most pressing concern remains the condition of the common man. Across the streets, markets, and workplaces, there is a growing sense of hardship and quiet despair. People are lamenting, yet many feel they have no clear avenue for relief or recourse. The question that continues to arise is: what more can be done to ease this burden?
In addition, the recurring power outages across the country have become an urgent national issue. Reliable electricity is not merely a convenience—it is a critical enabler of economic productivity, healthcare delivery, education, and general quality of life. The current instability in power supply is further straining businesses and households already grappling with high costs.
At this juncture, there is a need for accelerated, visible, and impactful interventions, particularly in:
• Targeted social protection programs for vulnerable populations
• Stabilization policies to manage inflation and currency volatility
• Clear communication and transition frameworks to help citizens and businesses adapt to economic reforms
• Urgent reforms and investment in the power sector to ensure consistent electricity supply
• Infrastructure development that directly improves productivity and lowers the cost of doing business
Your Excellency, leadership in times such as these requires not only bold decisions but also responsive adjustments and empathetic governance. Nigerians are resilient, but resilience must be supported by systems that work.
As you mark another year today, it is my hope that this moment also serves as a renewed opportunity to reflect, recalibrate where necessary, and reinforce the social contract between leadership and the people.
Nigeria must move forward—and it must do so with urgency, inclusiveness, and clarity of direction.
Please accept the assurances of my highest regards.
Yours faithfully,
Dr. Aranmolate Rasheed Ayobami
Plastic Surgeon & Healthcare Executive
Grandville Medical Group, Nigeria
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