By Erewunmi Peace

Nigeria’s economy is struggling to stabilize as rising political distractions and worsening insecurity continue to fuel inflationary pressures, raising concerns about the government’s ability to sustain its reform agenda.

Despite early gains from major policy reforms introduced by President Bola Tinubu’s administration — including the removal of fuel subsidies, unification of foreign exchange rates, and tighter monetary policies — the benefits have been overshadowed by persistent inflation and insecurity across key regions.

According to the National Bureau of Statistics (NBS), Nigeria’s inflation rate stood above 22% in June 2025, only slightly down from May’s figure of 24%. Food prices remain a major driver, with insecurity in the North and Middle Belt disrupting farming and supply chains.

“The cost of living is still biting hard. The government’s reforms were necessary, but without tackling insecurity and improving productivity, Nigerians will continue to feel the squeeze,” said Dr. Mary Adebayo, a Lagos-based economist.

Political analysts also warn that Nigeria’s leaders appear more focused on the 2027 election race than on consolidating economic reforms. Observers fear that heightened politicking could stall urgent measures needed to address unemployment, food shortages, and investor confidence.

Insecurity remains another major obstacle. Attacks by armed groups, farmer-herder clashes, and kidnappings have forced many farmers off their lands, worsening the food crisis. The National Security Adviser, Nuhu Ribadu, recently admitted that hunger and poverty are driving more young people into violence, complicating the nation’s security challenges.

International institutions, including the IMF, have urged Nigeria to stay the course with its reforms while pairing them with targeted social protection to shield the most vulnerable citizens. However, the government faces mounting pressure from labor unions and civil society groups demanding relief measures.

For many households, the hope is that reforms will eventually deliver stability. But with political distractions and insecurity still unchecked, the road to recovery appears uncertain.