Nigeria has reached another significant milestone in its economic journey, marking 66 years of independence. As the nation celebrates, Prof. Okechuku Onuchuku, Vice Chancellor of Ignatius Ajuru University of Education, Port Harcourt, urges Nigerians to look beyond the celebration and ask a fundamental question: what is the country doing with its resources? Onuchuku, an economist and academic, emphasizes that Nigeria has enormous natural resources, a large population, and considerable entrepreneurial energy, but continues to grapple with inadequate infrastructure, energy shortages, and unemployment.
Onuchuku's observation places the anniversary within a broader economic context, highlighting that independence is not only about political sovereignty but also about a nation's capacity to feed itself, power its industries, educate its citizens, create wealth, and build infrastructure. He urges Nigerians to consider the reforms of the President Bola Ahmed Tinubu administration from a wider perspective, recognizing the hardship accompanying some policies. The removal of petrol subsidy, foreign exchange reforms, and the Nigerian Education Loan Fund are measures that should be considered within the administration's broader attempt to restructure the economy.
The economist acknowledges the present hardship but raises a more difficult question: will the sacrifices associated with reform eventually produce an economy with a financially stronger government, more productive businesses, and greater economic opportunities for citizens? The World Bank and International Monetary Fund have pointed to improvements in aspects of Nigeria's macroeconomic position following the reforms, while also highlighting continuing challenges around inflation, poverty, food insecurity, and living standards.
Onuchuku's concern extends beyond Abuja, emphasizing that the real transformation of Nigeria will depend substantially on what states and local governments do with available resources. He believes the South-South region, which has occupied a strategic position in Nigeria's economic life due to its contribution to the nation's oil and gas economy, must begin thinking seriously about power generation as a collective development priority. Many communities and businesses in the region continue to contend with inadequate infrastructure and unreliable electricity.
Onuchuku suggests that if the allocations and internally generated revenue of states and local governments in the South-South are properly utilized, they can build an indigenous power plant for the region. He emphasizes that electricity is the foundation upon which much of modern economic activity rests, and unreliable power raises the cost of production, making investment more difficult. The Vice Chancellor cites Abia State Governor, Dr. Alex Otti, as an example of judicious utilization of public resources and deliberate investment in infrastructure.
The Abia State Government has placed considerable emphasis on capital investment, allocating a large proportion of proposed expenditure to capital projects in its 2025 budget documentation. The administration has reported investments in roads, transportation, healthcare, education, and other infrastructure. In 2026, the administration commissioned the Umuahia Central Bus Terminal, a major transportation project designed to improve the organization and efficiency of movement in the state.
Onuchuku's proposition is not simply that the South-South should build a power plant, but that public resources should be converted into infrastructure capable of creating new economic possibilities. This approach would require cooperation, careful feasibility studies, professional management, transparent procurement, and a sustainable commercial model. It would also require a departure from the mentality that every major development challenge must necessarily await intervention from the Federal Government.
Key points
- Nigeria's 66th Independence Anniversary highlights the need to focus on development beyond reforms.
- Economist Prof. Okechuku Onuchuku urges Nigerians to consider the reforms of the President Bola Ahmed Tinubu administration from a wider perspective.
- The South-South region must begin thinking seriously about power generation as a collective development priority.
