The APC Government: A Menace To Financial And Political Stability Through Hyper Or Galloping Inflation

by Osata Osayogie Raphael

 

Nigeria is likely to face or experience increase in the prices of commodities, especially goods that are PERFECTLY IN-ELASTIC in nature, from the 2nd quarter of the year, July 1, 2025, according to analytical postulations by some veteran economists,if the financial and economic hardships are not addressed immediately.

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Nigeria’s debt to hit N187.8trn in 2025 amid rising borrowing costs. Nigeria’s debt stock will reach N187.79 trillion this year as the West African country grapples with a rising borrowing cost,naira depreciation and aggressive government borrowing.

 

As of today, Sunday, May 25,2025, here are the latest updates on the US dollar exchange rate and Nigeria’s public debt:

The Official Exchange Rate: for 1 US dollar is approximately 1,580.44 Nigerian naira, according to the Central Bank of Nigeria (CBN).

The Parallel Market (or black market) Rate: is generally higher, ranging between 1,600 and 1,615 naira per US dollar, according to NgnRates.com and Naira Today.

 

In the political cycle of algorithm.The top-down approach of the political, social and financial economy in the descending order has been highly inimical, abysmal and absurd to the average Nigerians in all standard.

The economic hardship has metamorphosed from arithmetic progression to geometric 🔴 🔵 sequence.By extension, gravitating from creeping inflation to hyper or galloping inflation in an exponential order.

 

The All Progressives Congress (APC) government in Nigeria has faced significant criticism for its handling of the economy and governance.The grouse of this criticism is the phenomenon of hyperinflation,which has exacerbated financial hardship and political instability.This political epistemology examines how the APC’s policies have contributed to these challenges, affecting the daily lives of Nigerians and undermining the country’s political landscape.

Hyperinflation is an economic condition characterized by extremely high and typically accelerating rates of inflation.It leads to the rapid devaluation of a country’s currency, making basic goods and services unaffordable for the average citizen. In Nigeria,hyperinflation or galloping has roots in various factors, including fiscal mismanagement, policy inconsistencies,and external economic pressures.

 

The APC government has been criticized for poor fiscal management, including excessive borrowing and misallocation of resources. The national debt has escalated dramatically, raising concerns about sustainability. With a large portion of government revenue directed toward debt servicing,less is available for essential services and infrastructure development,leading to economic stagnation.

The Central Bank of Nigeria’s monetary policies under the APC have often been reactive rather than proactive. Frequent adjustments to interest rates and foreign exchange policies have created uncertainty in the market, deterring both local and foreign investments.This unpredictability has led to diminished economic confidence, further fueling inflation.

 

Nigeria’s heavy reliance on oil revenue has left the economy vulnerable to global oil price fluctuations. While the APC has promised diversification, significant progress remains elusive.When oil prices drop,the economy suffers, leading to budget deficits and increased inflation as the government prints more money to cover shortfalls.

 

As inflation rates soar, the purchasing power of Nigerians diminishes. Basic necessities—food, healthcare, and education—have become increasingly unaffordable.This financial strain disproportionately affects the lower and middle classes,leading to widespread poverty and social unrest.

The economic instability has resulted in high unemployment rates. Many businesses have downsized or closed due to rising operational costs and reduced consumer spending. This situation has created a vicious cycle where job losses contribute to further economic decline, fueling discontent among the populace.

The APC government’s inability to manage the economy effectively has led to widespread disenchantment with political leadership. Citizens increasingly view the government as disconnected from their realities,eroding trust and diminishing civic engagement.This disillusionment can destabilize political structures,leading to increased calls for reform and even unrest.

 

The financial hardships exacerbated by hyperinflation can lead to political instability. Citizens frustrated by economic conditions may turn to radical solutions or support extremist groups, undermining democratic institutions.The APC faces the challenge of addressing these grievances to maintain stability and legitimacy.

 

In conclusion
The APC government has struggled to navigate the difficult challenges posed by hyperinflation and economic instability. Fiscal mismanagement, inconsistent policies, and reliance on volatile oil revenues have contributed to a dire situation for many Nigerians.As the government grapples with these issues, it must recognize the urgent need for effective economic strategies and genuine engagement with citizens to restore trust and ensure political stability.Failure to address these concerns may lead to enduring financial hardship and profound political consequences.

 

A Wise Man Is Proactive And An Unreasonable Man Is Physically Vindictive, Choleric By Personality-type And Reactive.