A WIN discussion, March 2024. Watch HERE Nigeria, with a population of approximately 200 million, holds the title of the largest country in Africa. It ranks as the sixth-largest oil-exporting nation globally. However, despite its size and resources, it is the poverty capital of the world since 2018. This pervasive poverty is due to the effects of neoliberalism and capitalism. While the majority of the population struggles with impoverishment, the ruling class enjoys unchecked wealth, benefiting from exorbitant profits and allowances.
Presently, Nigeria faces a staggering inflation rate of 31.7 percent. Since Bola Ahmed Tinubu assumed office on May 29, 2023, his policies, including the removal of subsidies on Premium Motor Spirit (PMS) and the floating of the national currency against the dollar, have exacerbated the situation, leading to hyperinflation. The labour movement is currently advocating for a new minimum wage of $298 and has organised mobilizations. But a viable political alternative is missing. Members of the Revolutionary Socialist Movement (RSM)- an organization affiliated with the Internationalist Standpoint- have been tirelessly working to champion a mass workers’ political alternative.
Dimeji Macaulay is a socialist activist with over 15 years of struggle to defend the rights of youth, workers, and community residents against oppression. As a fighting trade unionist, he actively engages in the daily struggles of the working class.