Nigeria — The 2023 Elections and the Making of a Banana Republic

Rising inequality, rising inflation, incessant terrorist attacks, an acute lack of job opportunities, widespread poverty, and a seeming lack of respect for the rule of law indicate that Nigeria is not on the right path of development. These ills, combined with the loss of confidence and lack of trust in the government and institutions, converge to paint a picture of an emerging banana republic. A banana republic is an economic condition whereby a country is operated as a private commercial enterprise for the exclusive profit of the ruling class. The 2023 elections held in February and March in Nigeria have removed any doubt from the minds of reasonable observers as to the decrepit situation in the country.

The elections have reconfirmed the notion that power belongs to the elite and the ruling class. From the inability of the government to conduct credible elections to the electoral violence that led to the deaths of uncountable numbers of people, it is obvious that not a modicum of progress has been made after 24 years of uninterrupted democratic practice. The political discourse has even taken a more dangerous turn with the introduction and implementation of xenophobic attacks, palpable religious bigotry, ethnic profiling, and extreme voter suppression by physical violence.