By Sogeyinbo Abdulrahmon Olabanji (SIWES student, Gate Way Polytechnic Saapade)
In the past six months, the Federal, State, and Local Councils governments received a total of N5.57 trillion from the Federal Accounts Allocation Committee.
During this period, President Tinubu’s administration allocated N2.097 trillion to the Federal Government, N1.8285 trillion to the 36 states, N1.346 trillion to the 774 LGAs, and N298.648 billion to oil-producing states as 13 per cent derivation.
Despite the substantial funds allocated, citizens nationwide are still awaiting the impact as hardship intensifies and human development indices decline amid increasing insecurity.
In October, Nigeria saw a 10th consecutive rise in inflation, reaching 27.33 per cent, attributed to increased prices in various food items.
While the President assures Nigerians that economic reforms will improve conditions, the latest data reveals a population of 226.030 million with a life expectancy of 53.89 years, high infant and under-five mortality rates, and a significant maternal mortality ratio.
Poverty persists, with 71 million Nigerians reported as extremely poor in June 2023, and analysts estimating over 140 million multidimensionally poor individuals.
Additionally, efforts to address the out-of-school children menace have yielded little progress, with Nigeria accounting for 12.4 percent of such children in Sub-Saharan Africa as of April 2023.
