Economic Hardship In Nigeria Painful But Necessary

Economic Hardship In Nigeria Painful But Necessary – FG - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Economic Hardship In Nigeria Painful But Necessary – FG (7511 Views)

Economic Hardship In Nigeria Painful But Necessary – FG by iwaeda(op): 11:46am On May 15

The Minister of Solid Minerals Development, Dele Alake, says the current economic difficulties in Nigeria are painful but are part of the necessary transition toward building a resilient and sustainable economy.

Alake stated this at the maiden edition of the Solid Minerals Excellence Awards (SOMEA) in Abuja.

He said Nigeria was undergoing a decisive economic transformation aimed at achieving long-term prosperity, industrial growth and national development through bold reforms and strategic leadership.

He said the administration of President Bola Tinubu remained committed to implementing difficult but necessary reforms to address corruption, weak institutions, economic instability and overdependence on oil revenue.

“Effective leadership must be driven by vision, knowledge and courage,” he said.

According to him, meaningful national progress can only be achieved through policies focused on long-term national interest rather than short-term political considerations.

He said President Bola Tinubu was determined to reposition the economy, adding that reforms previously avoided by past administrations due to political resistance were now being implemented to drive future growth.

The minister, drawing parallels with the transformation of Lagos State, noted that difficult reforms initially met strong opposition before ultimately leading to improved revenue generation, stronger institutions, and economic expansion.

He said that the mining sector had been identified as a strategic pillar of the economic diversification agenda under the Renewed Hope programme of President Tinubu.

“The ministry has undertaken comprehensive reforms targeting illegal mining, weak regulatory structures, insecurity, dormant licences and lack of transparency in the sector,” he said.

He added that the digitisation of mining operations and licensing processes had enhanced transparency, simplified access to licences and attracted increased investor participation.

Alake said the government had strengthened enforcement on mining sites by expanding the Mining Marshals initiative, deploying over 2,000 personnel nationwide to combat illegal mining, leading to arrests, prosecutions, and improved compliance among operators.

He stressed the need for local value addition and domestic processing of minerals to drive industrialisation, job creation and technology transfer.

He said the initiative had already resulted in multiple arrests, prosecutions and improved compliance among operators, while also stressing the need for local value addition and domestic processing of minerals to drive industrialisation, job creation and technology transfer.

Earlier, the permanent secretary of the Ministry of Solid Minerals Development, Yusuf Yabo, said the awards ceremony reflected the federal government’s commitment to positioning the mining sector as a globally competitive driver of economic growth.

Yabo said the celebration was also a recognition of partnerships, investments, innovation and transformation under the administration of the minister of solid minerals.

Also speaking, the president of SOMEA, Oladunmi Owo, described the initiative as a platform to honour contributions to reforms and sustainable development in the sector.

Omar Sahinolu, the Chief Executive Officer of D-Gold, emphasised responsible mining practices, transparent governance and technological innovation.

The News Agency of Nigeria (NAN) reports that awards were later presented to distinguished individuals and organisations for their contributions to Nigeria’s solid minerals industry.

NAN reports that the SOMEA was conceived to promote innovation, sustainability, responsible mining and to attract investment in Nigeria’s solid minerals sector, supporting economic diversification.

The awards, themed ‘Unlocking the Future’, unveiled winners across high-impact categories that reflect the sector’s direction.

Categories honoured include Leading Mining Company of the Year, Excellence in Sustainable and Safe Operations, and Outstanding Contribution to Sector Growth, among others. (NAN)

https://www.vanguardngr.com/2026/05/economic-hardship-in-nigeria-painful-but-necessary-fg/

3 Likes 1 Share

Re: Economic Hardship In Nigeria Painful But Necessary – FG by givedemwotowoto: 12:10pm On May 15*

Those who want to be deceived can continue to listen to all these nonsense talk while politicians plunder their resources with their permission and support.

The rest of us (the majority) have moved beyond Tinubu.

Look how many Prime Ministers the UK has had just within the last few years while trying to get it right

Yet some people are here telling us to be patient with a colossal failure that has dragged Nigeria backwards by many years.

140 Likes 11 Shares

Re: Economic Hardship In Nigeria Painful But Necessary – FG by tonesky(m): 12:15pm On May 15

This comment could only be accepted if there are no frivolities. A country where 210 Trillion missed in NNPC speaks volume of the type of leadership we have in Nigeria.

74 Likes 5 Shares

Re: Economic Hardship In Nigeria Painful But Necessary – FG by LagosOrigin: 12:20pm On May 15

Tinubu came up with the policies that will take away the purchasing power of Nigerians so that when it's time for election, he will give them rice for election gains.

To tinubu, that's a strategy to win election but he has failed .

Useless president

116 Likes 7 Shares

Re: Economic Hardship In Nigeria Painful But Necessary – FG by WhiteIverson: 12:31pm On May 15

That's why voting out the current administration is also "necessary" but I guarantee you, no one will feel any pain doing it.

67 Likes 6 Shares

Re: Economic Hardship In Nigeria Painful But Necessary – FG by Kemetian: 12:54pm On May 15

LagosOrigin:
Tinubu came up with the policies that will take away the purchasing power of Nigerians so that when it's time for election, he will give them rice for election gains.

To tinubu, that's a strategy to win election but he has failed .

Useless president

YOU HAD NO "PURCHASING POWER".

"PURCHASING POWER" BASED ON FUEL SUBSIDIES AND A CHAOTIC DUAL EXCHANGE RATE THAT DISCOURAGED INVESTMENT AND SIMPLY LED TO ARBITRAGE, IS WHAT LED THE COUNTRY TO THIS CRISIS IN THE FIRST PLACE.

BORROWING $10 BILLION A YEAR FOR FUEL SUBSIDIES IS WHAT GAVE YOU YOUR "PURCHASING POWER".

MR POWER.

3 Likes 1 Share

Re: Economic Hardship In Nigeria Painful But Necessary – FG by Freshtruth(m): 1:08pm On May 15

Efcc dusting seyi mankinde file as we speak

6 Likes 1 Share

Re: Economic Hardship In Nigeria Painful But Necessary – FG by Racoon(m): 1:20pm On May 15

Does this evil government feel the pain of the downtrodden? God will surely punish you all @the top there.

25 Likes

Re: Economic Hardship In Nigeria Painful But Necessary – FG by DatNiggaDaz: 1:25pm On May 15*

Kemetian:
YOU HAD NO "PURCHASING POWER".

"PURCHASING POWER" BASED ON FUEL SUBSIDIES AND A CHAOTIC DUAL EXCHANGE RATE THAT DISCOURAGED INVESTMENT AND SIMPLY LED TO ARBITRAGE, IS WHAT LED THE COUNTRY TO THIS CRISIS IN THE FIRST PLACE.

BORROWING $10 BILLION A YEAR FOR FUEL SUBSIDIES IS WHAT GAVE YOU YOUR "PURCHASING POWER".

MR POWER.

@ROSSIK, Pure lies. The lies are too much. Stop telling unnecessary lies. You think you are the only one living in Nigeria

I have warned you to continue decieving urself only writing about the faaake pan Africanism you activate to deviate attention from the failures of the faaaake certttifficcate hollldderr instead of telling pure lies

17 Likes

Re: Economic Hardship In Nigeria Painful But Necessary – FG by Dogalmighty17: 3:03pm On May 15

The APC has been saying this for over 11 years. This party needs to outrightly admit that it is a failure.

14 Likes 2 Shares

Re: Economic Hardship In Nigeria Painful But Necessary – FG by CodeTemplar: 3:15pm On May 15

Yes OOO.
Once they complete mega highways n flyovers, investors will confuse Ijebu Ode for London and flock in.
Clap for broda Yekini.

31 Likes 1 Share

Re: Economic Hardship In Nigeria Painful But Necessary – FG by CodeTemplar: 3:18pm On May 15

Kemetian:
YOU HAD NO "PURCHASING POWER".

"PURCHASING POWER" BASED ON FUEL SUBSIDIES AND A CHAOTIC DUAL EXCHANGE RATE THAT DISCOURAGED INVESTMENT AND SIMPLY LED TO ARBITRAGE, IS WHAT LED THE COUNTRY TO THIS CRISIS IN THE FIRST PLACE.

BORROWING $10 BILLION A YEAR FOR FUEL SUBSIDIES IS WHAT GAVE YOU YOUR "PURCHASING POWER".

MR POWER.

this your post is equivalent of taking kpo-kpo-garri without liquid.

14 Likes

Re: Economic Hardship In Nigeria Painful But Necessary – FG by APOPTOSIS: 4:04pm On May 15

By all means "NECESSARY " they must have hardship and they will never pay an estimated bill for such. Hmmmmm

Re: Economic Hardship In Nigeria Painful But Necessary – FG by walozanga(m): 4:04pm On May 15

Look at the useless narratives they are promoting. Bunch of incompetent morons

10 Likes

Re: Economic Hardship In Nigeria Painful But Necessary – FG by joefelin2345: 4:06pm On May 15

iwaeda:
https://www.vanguardngr.com/2026/05/economic-hardship-in-nigeria-painful-but-necessary-fg/

While a few of you are smiling to the Bank abi?

4 Likes

Re: Economic Hardship In Nigeria Painful But Necessary – FG by iichidodo: 4:07pm On May 15

Replacing Thieefnnubu with OK is painful but very much completely necessary...

15 Likes 2 Shares

Re: Economic Hardship In Nigeria Painful But Necessary – FG by missionmex(m): 4:07pm On May 15

But the politicians are exempted. So who who are they fooling?

6 Likes

Re: Economic Hardship In Nigeria Painful But Necessary – FG by UkoAnnang(m): 4:08pm On May 15

In the midst of this economy hardship your children and family are living in plenty, they have privileged to study overseas all at the expense of the federal treasury.

You are balling, while the poor citizens are being kidnapped and murder daily in this country and you said it is necessary.
It shall never be well with your generation both unborn

Na God go punish all of una

18 Likes 3 Shares

Re: Economic Hardship In Nigeria Painful But Necessary – FG by Hemanwel(m): 4:08pm On May 15

After much much, FG of Nigeria finally agrees there is hardship in the country

8 Likes

Re: Economic Hardship In Nigeria Painful But Necessary – FG by MEGA4BILLION(m): 4:09pm On May 15

Citizens should endure while public office holders eat fat

4 Likes 1 Share

Re: Economic Hardship In Nigeria Painful But Necessary – FG by ZombieTERROR: 4:09pm On May 15

enjoyment by the elite is a must

they don't deserve any form of pay cut

lame administration

5 Likes 1 Share

Re: Economic Hardship In Nigeria Painful But Necessary – FG by Boladogailese(f): 4:10pm On May 15

Are they also partaking in the hardship?

3 Likes

Re: Economic Hardship In Nigeria Painful But Necessary – FG by Leepeak(m): 4:11pm On May 15

Pain ful but necessary grin

Till 230million reach 50million

6 Likes 1 Share

Re: Economic Hardship In Nigeria Painful But Necessary – FG by Eba50: 4:11pm On May 15*

Mutu nicholas of burutu has been there since 1999.infact, all the people yesterday, said they no longer want him there as he thinks they are chickens, throwing food at them tp make them forget worries. A woman at the crowd, while adressong them, said a girl born that year, would have been a mother today

2 Likes

Re: Economic Hardship In Nigeria Painful But Necessary – FG by Mexyz(m): 4:11pm On May 15

Same story lines and excuses since 2015
Buhari came with this same line in 2015 and used 8yrs in Aso rock with little to nothing to show for it. Oga BAT started with this same story line and still on it with still nothing to show for it.

How APC see Nigerians as fools is surprising to me seriously.
APC has been in power for 11 good years now, they keep telling us to endure and suffer now for the future to be better.

7 Likes

Re: Economic Hardship In Nigeria Painful But Necessary – FG by reiddecuti: 4:12pm On May 15

These people in government are really funny. Masses to suffer while you lots keeps living large on tthe country stol$n wealth...

5 Likes

Re: Economic Hardship In Nigeria Painful But Necessary – FG by Telltruth123: 4:14pm On May 15

Sir, you are just deceiving us, when Yaradua became president he reduced the price of petrol and he did not borrow money like you people. I am just tired of this your explanations without good results, you remove subsidy and start borrowing money left and right you also increase tax. You collect money from the poor and give the rich, is that a good governance no other words you people have failed.

All the governors you are giving allocations, what are they doing with it? They are not performing no security we can't sleep with our eyes closed, the poverty has doubled people are hungry if you put anything outside your house, they will steal it.

8 Likes 1 Share

Re: Economic Hardship In Nigeria Painful But Necessary – FG by AngelSlay: 4:14pm On May 15

“Every government loves to sell hardship as ‘necessary sacrifice,’ but the real question Nigerians should ask is: sacrifice by who, and for whose benefit?

Yes, reforms are often painful. Removing fuel subsidies, floating the naira, and diversifying away from oil are not inherently bad ideas. In fact, many economists have argued for them for years. But reforms lose public trust when citizens see rising inflation, worsening hunger, collapsing purchasing power, and little immediate relief — while political elites continue to live comfortably.

Dele Alake is right about one thing: Nigeria cannot continue depending solely on oil. The solid minerals sector has massive potential if properly managed. Countries have built strong economies around mining. But Nigerians have heard similar promises in agriculture, tech, manufacturing, and power sectors for decades, yet structural issues remain.

The bigger concern is credibility. How do you convince struggling Nigerians that ‘pain is temporary’ when there’s no clear timeline for relief? How do you ask citizens to endure hardship when governance costs remain high and corruption perceptions persist?

Bola Ahmed Tinubu may be implementing reforms previous administrations avoided, but reforms alone do not equal results. Success will be measured by whether ordinary Nigerians can afford food, transportation, healthcare, and housing in the coming years — not by speeches at award ceremonies.

The mining sector itself also requires caution. Illegal mining, environmental degradation, insecurity, and weak local beneficiation have plagued the sector for years. If reforms only attract foreign investors while local communities remain poor and exploited, then Nigeria simply replaces oil dependency with another extractive trap.

The average Nigerian is not against reform. What people are against is being told to suffer endlessly while leaders ask for patience without visible accountability.

Economic transformation should not just sound good in Abuja conference halls — it must reflect in the lives of market traders in Lagos, farmers in Benue, miners in Zamfara, and young graduates across Nigeria searching for opportunity.

Until then, many Nigerians will view these promises as another chapter in a very familiar political script.”

iwaeda:
https://www.vanguardngr.com/2026/05/economic-hardship-in-nigeria-painful-but-necessary-fg/

5 Likes

Re: Economic Hardship In Nigeria Painful But Necessary – FG by michoim(m): 4:15pm On May 15

This condemned evil government thinks they can fool anybody with the same rhetoric that Nigetizns have been hearing since Babangida days in the mid 1980s

6 Likes

1 2 3 4 Reply

Tinubu’s Economic Reforms Hard But Necessary – BUA Chairman • Tinubu Rules Out Return Of Fuel Subsidy, Says Decision Painful But Necessary • Ahmed Lawan: Debt Burden Heavy On Nigerians But Necessary • 2 • 3 • 4

Ogun Still Expecting 153,185 Pvcs And 703,492 Voters Yet To Collect PVC In Oyo- • Tinubu’s Policies Not Friendly, Causing Nigerians Hardship – Primate Ayodele • God Called Me To Be A Politician - Ortom (Video)