Highlighting Some major events that shaped Nigeria in 2022

By Bankole Taiwo

One thing we all can agree on whichever divide you find in  2022, was a mixed bag of the good, the bad and the not so pleasant.

Yes, almost other years before it came with  extra, but there’s just something about 2022 that we cannot forget in a rush.

Everything started really early: Spats of unending terrorism, now garnished with banditry and kidnapping.

The worst love  14 when the Federal Government and the Academic Staff Union of Universities (ASUU), took their unholy romance on to another stretch, a record-breaking 8-month stretch! Phew!

It wasn’t all bad In sport despite Super Eagles missing out on a historic World Cup to eternal rivals Ghana, as Nigerian athletes restored glory days by smashing it all at the world scene.

Here are our picks of the Top 5 notable events that eclipsed 2022.

1. Team Nigeria at Birmingham 2022

The 21st edition of the Commonwealth games also known as British Empire Games held in Birmingham, England last year has been an absolute pleasure covering 11 days of incredible sport, but now Birmingham 2022 has come to a close.

Records have been broken, accolades have been won and memories to last a lifetime have been made, with Nigeria female athletes producing some of the most remarkable and heroic performances, carving their names into the history books of commonwealth games.

However, amidst the mishaps going on in Nigeria, without doubt, Nigerian athletes that represent the country at last year Commonwealth games have once again dominante athletics in Africa and internationally in the just concluded Commonwealth games when we speak of athletes like Ese Brume, Eucharia Iyayi and yet another groundbreaking history has been made by Tobi Amusan

The just XXII edition of Commonwealth games which was hosted by Birmingham was no doubt a success, especially for team Nigeria as she garnered 12 gold medals; her highest in the history of commonwealth all uniquely won in the women’s category, two of which drew international attention.

All thanks to our Female athletes who represented us well at this year’s games, it was indeed a big excitement and great joy for me to witness the reign of women in sporting activities which put aside the topic of feminism and gender inequality. Not just because of the women’s performances, but the generality of our performances at the Games.  Last  year edition of the commonwealth games marked Nigeria 15th appearance at the Games and  undoubtedly our best outing ever at the Commonwealth games, and that which reassure us with the possibility that Nigeria as a country is a enabling environment made of talented champions that only need to be given the opportunity .

Nigeria tops the chart of African countries participating with most medals ranking 7th on the general medal table , with a total of 35 medals– 12 gold, nine silver and 14 bronze medals. Aside from the medals we won, Nigeria broke and set quite some remarkable records at the 2022 commonwealth games.

2. ASUU strike

The decision made by Academic Staff Union of Universities (ASUU) to embark on a eight-month long strike has caused a big setback to all Nigerians who are largely stakeholders in the matter, especially for the  students and their parents who are the real victims. Also teachers and lecturers have gone through a devastating period, having been deprived of their basic means of livelihood. Therefore, ASUU’s decision to call-off the strike in compliance with the orders of the Court of Appeal is laudable.

On February 14, 2022, ASUU embarked on a warning strike, which later became indefinite strike, caused as a result of  its demands on the Federal Government to provide funds for the revitalisation of public universities to the tune of N1.1 trillion, payment of earned academic allowances, adoption of the University Transparency Accountability Solution (UTAS) , payment of promotion arrears and the renegotiation of the 2009 ASUU-FGN Agreement. After intensive bargaining between the two parties,  the Federal Government constituted a committee headed by Professor Nimi Briggs, surprisingly, the Federal Government refused to execute the renegotiated agreement, claiming that it lacked funds.

Instead of looking for means to a preferable solution, the federal government frustrated the academic union by enforcing the ‘No Work No Pay’ policy; and threatened to proscribe ASUU and later claimed that all the demands have been met except the withheld salaries, then went further to sue ASUU at the National Industrial Court of Nigeria, and registered two new academic unions; Congress of Nigerian University Academics (CONUA) and Nigerian Association of Medical and Dental Academics (NAMDA). This turnout of events are a clear indication of the poor conflict resolution skill set of the current administration. In the instant case, the federal  government has proven to lack commitment and  It is expected that the government should accept all responsibility for the various stalemates encountered during negotiations, as they were caused by government’s vehement disinclination to abide by the terms of agreement it had signed.

3. Parties Primary Elections

After months of intra-party political campaigns that drew the attention of the whole country, the list of candidate to contest for Nigeria’s presidential elections in 2023 is now known as Nigerians get ready for intense political campaigns towards 2023 Presidential election while candidates and their parties put together and deploy creative communications and innovative engagements on various platforms.

This time around, there are some new contestants coming on board to contest in the forthcoming election, the list is contextually not much different from the past. The major parties, as usual, went for well-known names. The All Progressive Party (APC) will be fielding its national leader, Asiwaju Bola Ahmed Tinubu, polled 1271 votes in total to clinch the ticket . The leading opposition party, the Peoples Democratic Party (PDP), will have its flag flown by a former vice president and serial contestant, Alhaji Abubakar Atiku.  Omoyele Sowore will be representing the African Action Congress (AAC). The Young Peoples Party (YPP) will present Prince Malik Ado Ibrahim. The People’s Redemption Party (PRP) and Social Democratic Party (SDP) will field Mr Kola Abiola and Prince Adewole Adebayo respectively. The Labour Party will be presented Mr Peter Obi, a former governor of Anambra state; while Rabiu Kwankwaso, also a former governor, will represent the New Nigeria Peoples Party (NNPP).

4. Inflation and Naira Devaluation

American economist Murray Rothbard once said that “inflation not only raises prices and destroys the value of the currency unit, it also acts as a giant system of expropriation”.

Over the past few decades, we have seen how high levels of  inflation have been a persistent phenomenon in our economic system. In 2021, the rate of inflation stands at nearly 18 percent. Nigeria’s inflation rate currently stands at 20.77.

Inflation is not just a disease that only affects high tax on the poor; but also an infection that spreads all over the country, crippling savings and business investments, while ultimately undermining welfare and growth prospects. It also makes the currency  become weak against other competitors.

According to Bloomberg in 2022, Nigeria Naira currency is now one of the world’s worst-performing currencies, after Ghana’s cedi, which is down nearly to 55%, and the Sri Lankan Rupee. Its peers include Sierra Leone’s leone, which is down 36%, and the Egyptian pound, which has lost 35%. Ordinary Nigerians are the ones  suffering and feeling the pain. The uncertainty of the Naira is the single largest contributor to the increase in inflation which is devastating the country’s economy, surging the prices of virtually everything to the top.

Last year, the Nigeria Naira currency devalued and dropped to a record low against the U.S. dollar as Nigerians scramble to buy U.S. currency. However,  financial experts and Nigerian authorities believe that by replacing the Naira  with redesigned Naira notes will reduce the rate of inflation , combat counterfeiting and ensure the circulation of more money. But on the other side, some economic experts warn Nigeria authorities against the move because it might damage Nigeria’s economy.

It’s been just some months since the Central Bank of Nigeria (CBN)  made the announcement on its plan to redesign the country’s highest paper denominations – the 200-, 500- and 1,000-naira notes. However,the circulation of the redesigned currency has already begun and the old notes will cease to be legal tender by the end of January, according to the CBN.

5. Fuel Scarcity 

Another pressing issue still persisting in the country is the lingering issue of fuel scarcity that has compounded the economy of the country. As a result of this, millions of Nigerians were struggling to survive under this period of price hike of items which continue to make a rapid climb.

As of two months ago, a liter of petrol in Lagos was sold for a price of N250-N300, choking cash-strapped Nigerians who are already grappling with high prices of goods and services.

The increase in fuel price has consequently increased the cost of living of Nigerians which surged to a 17-year high of 21.09 percent in October this year.

With a lot of Nigerians being business owners,  the aftermath  of high fuel prices will only amount to increases in the cost of doing business and cuts profitability. It increases the running costs and the profitability of many businesses is marred.