Nigeria headed in wrong direction – API poll

Ahead of the 2023 general election, the majority of eligible voters in Nigeria believe the country is on the wrong track, according to a new poll conducted by the African Polling Institute (API).

The survey, which was conducted in partnership with BusinessDay, was aimed at gauging the perception of Nigerians towards the 2023 elections. It was conducted nationwide between July 18 and 22, 2022.

According to the poll, 87 percent believe Nigeria is moving in the wrong direction, 7 percent believe the country is heading in the right direction and 6 percent declined to comment.

Olawale Wakeel, chief operating officer at Edubridge Academy, believes that the current economic indicators such as high inflation, a weak naira, and inadequate education funding show that Nigeria is in a downward spiral, saying the onus is on the incoming government to swing the pendulum back up.

He said: “An evaluation of the current system that we have points to the country going on the wrong path, with respect to some issues such as health and the educational system, the sector in which I play.

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“The current system has had an impact on me as an individual; revenue has not been what it once was, and taxation is also a large part of what is beginning to affect the business. We are not earning much revenue, yet we are being taxed a lot, particularly from the withholding tax, which is eating deep into the bones of the business.”

According to him, the way out of the current economic crisis is dependent on who Nigerians vote for in the next election.

Tunmise Olaoluwa, a cryptocurrency analyst, said the costs he incurred on food and other things had doubled and that he must work hard to earn more in order to keep up with inflation. “I share the same sentiment that Nigeria is heading in the wrong direction.”

“The irony is that the cost of living is rising, yet income is not rising at the same rate as the cost of living. The government is doing a number of things that are pushing Nigeria downhill,” he said.

Concerning the fate of consumers to which extra costs incurred by businesses are passed, Olawale said: “Consumers will turn the aggression on the government or themselves, resulting in price disagreements or engaging in illegal activities to keep up with prices or acquire their needs.”