Nigerian President Bola Tinubu has unveiled a series of campaign promises ahead of the January elections to ease the high cost of living, which join other measures his government has rolled out to attract voters.
Tinubu, the front-runner looking for re-election in the January 16 ballot, pledged to curb inflation, almost double peak electricity generation and ramp up food supplies if Nigerians back him again, according to a plan released by his ruling All Progressive Congress (APC) party.
High prices are a key issue ahead of the election. Inflation has remained in double digits since Tinubu took office in 2023. Price pressures soared after he scrapped costly fuel subsidies and liberalised the currency market, as part of efforts to restore public finances and lure investors. One of his main rivals, Atiku Abubakar, whose eligibility to contest the election has been thrown into doubt by a court ruling, has pledged to restore targeted fuel subsidies and tackle hunger.
Tinubu’s plan targets inflation of no more than 8% by the end of 2031 as part of efforts to improve household purchasing power in Africa’s largest oil producer.
It also aims to boost food storage capacity, halve post-harvest losses and raise the domestic processing of agricultural products, steps designed to tackle food-price inflation that has hurt poorer Nigerian families and helped fan deadly protests in 2024.
Tinubu also outlined a goal to lift manufacturing’s contribution to the economy, while boosting non-oil exports and raising foreign direct investments to $15 billion and $5 billion a year respectively.
The campaign pledges follow a package of measures rolled out by his administration ahead of the election that include cash transfers of 50,000 naira ($37) to vulnerable households and temporary transport relief for federal workers worth 70,000 naira.
These joined a fuel subsidy of 66 naira per litre that was announced in October and has now been allowed to lapse.
SBM Intelligence analyst Ikenna Okonkwo called the direct payments an election gimmick that responds to criticism of Tinubu’s economic policies, noting that the opposition has leaned hard on the cost of living and affordability crisis.
Athekame Kenneth is a politics, economy, and finance reporter whose work is anchored in sharp investigative storytelling. He brings analytical depth to every piece, drawing on a strong academic foundation that includes a degree in Economics, an MBA in International Trade, and a minor in Petroleum Economics from Lagos State University, Ojo. His reporting blends rigorous research with a keen eye for hidden truths, delivering stories that illuminate power, policy, and the forces shaping everyday lives.
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