Nigeria’s recent economic reforms under President Bola Tinubu have delivered strong performance in financial markets, but dem dey also create serious political tension as many citizens struggle with rising cost of living.The country’s stock market has jumped about 52% in dollar terms this year, making it one of the best-performing markets globally.The naira has also gained nearly 5% against the US dollar, while Nigeria’s dollar bonds have returned steady gains.Investors dey show renewed confidence due to policies like removal of fuel subsidy, foreign exchange liberalisation, and reforms in the power sector.Foreign reserves have improved and credit rating agencies like S&P have upgraded Nigeria, reflecting improved macroeconomic stability.However, these gains are not strongly felt by ordinary Nigerians.Prices of food, transport, electricity, and basic utilities have risen sharply, making daily life more difficult for many households.

Small traders, workers, and families report reduced purchasing power, with some saying their income no longer covers basic needs like rent, school fees, and food.

Widespread inflation and unemployment pressures have deepened public frustration, and there are reports of declining living standards despite macroeconomic improvements.The social impact of these reforms has turned into a political challenge ahead of upcoming elections.

Survey data shows low public confidence in the government, with many respondents expressing dissatisfaction and some leaning towards opposition candidates like Peter Obi and Atiku Abubakar.Issues like insecurity, electricity shortages, and poverty remain major concerns across the country.

Although the government insists reforms are necessary for long-term growth and improved investor confidence, critics argue that benefits are not reaching ordinary citizens quickly enough.

This growing disconnect between market optimism and everyday hardship is shaping Nigeria’s political conversation and may influence voter behaviour in the next election cycle.