Nigerian Youths For Atiku

NYFA LEADERS' ECONOMIC DIGEST

Episode 8

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​By NYFA Editors​

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A Tale of Two Eras - The Devastating Consequences of Economic Mismanagement: A Comparative Analysis of Corn Prices Under Atiku and Tinubu

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A stable government is the bedrock of a thriving economy, providing citizens with a sense of security, predictability, and confidence in the system. When a government effectively manages the economy, it creates an environment conducive to growth, investment, and improved living standards for its citizens. Unfortunately, the stark contrast between the economic realities of Atiku Abubakar's vice presidency (1999-2007) and President Tinubu's administration (2023-present) highlights the devastating consequences of economic mismanagement. The price of corn has skyrocketed to ₦45,000 per 50kg bag, a striking example of the economic instability plaguing Nigeria under Tinubu's leadership.

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Intra-Era Comparison: Tinubu's Administration
The price of corn increased from ₦20,000 in 2023 to ₦45,000 in 2025, representing a:

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(₦45,000 - ₦20,000) / ₦20,000) x 100% ≈ 125% increase over 2 years

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Increase Index.

- Intra-era increase index for Tinubu's administration: 1.25 (125% increase)
- Inter-era increase index (lower end): 36.5 (3650% increase)
- Inter-era increase index (upper end): 22.68 (2268% increase)

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Projected 4-Year and 8-Year Forecast
If the current trend continues, with a 125% increase in corn prices over 2 years, we can project a 4-year and 8-year forecast. Annual increase rate:

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(1 + 1.25)^(1/2) ≈ 1.5 (annual increase rate)

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Applying this rate to the current price of ₦45,000:
- Year 3: ₦45,000 x 1.5 ≈ ₦67,500
- Year 4: ₦67,500 x 1.5 ≈ ₦101,250
- Year 8: ₦101,250 x (1.5)^4 ≈ ₦512,578

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Comparison and Analysis
Intra-Era Comparison:

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- Within Atiku's era, the price increase is approximately (₦1,900 - ₦1,200) / ₦1,200) x 100% ≈ 58.33% over 8 years.
- Within Tinubu's administration, the price increase is approximately 125% over 2 years.

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Inter-Era Comparison:

- The price increase from Atiku's era to Tinubu's administration is staggering, with corn prices rising from ₦1,200 to ₦45,000.
- If Tinubu's administration continues with the current trend, the price increase from Atiku's era to Tinubu's 8-year forecast would be approximately (₦512,578 - ₦1,200) / ₦1,200) x 100% ≈ 42615%.

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Lower and upper end index
The percentage increase in corn prices between Atiku's era and Tinubu's administration:

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(₦45,000 - ₦1,200) / ₦1,200) x 100% ≈ 3650% comparative increase from the lower end of Atiku's era
(₦45,000 - ₦1,900) / ₦1,900) x 100% ≈ 2268% comparative increase from the upper end of Atiku's era.

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The current economic trajectory is unsustainable due to the alarming rate of inflation, which erodes the purchasing power of Nigerians and undermines economic growth. The government's inability to effectively manage the economy, coupled with poor governance and corruption, exacerbates the problem. Atiku's era, marked by relative economic stability, serves as a stark contrast to the current nightmare.

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In sum, the astronomical rise in corn prices under President Tinubu's administration is a testament to the failures of governance and leadership incompetence. The projected 4-year and 8-year forecast paints a grim picture of the economy, highlighting the need for urgent action to address the root causes of inflation and restore economic stability.