President Bola Tinubu’s bid to become President of Nigeria was Janus-faced. It presented us with hope and sadness. Hope because he released a document he called ‘Renewed Hope’. This document encapsulated all he intended to do, if elected President of Nigeria. From health to education, security and economy, Tinubu seduced us with flowery description of a new Nigeria under him that would be filled with milk and honey.
Sadness because in the thick of his campaign to clinch the presidential ticket of the All Progressives Congress (APC), he gave the impression that all his fight to be President of Nigeria revolved around what he called ‘emilokan’ (it’s my turn). He will mark one year in office on Wednesday, May 29, 2024. The question is: have Nigerians renewed their hopes or are they gnashing their teeth and waiting for another messiah?
Well, one year is not enough to assess an administration that has four years to prove its mettle. But it is from the smell of fart that one can determine the texture of excrement. From day one of his assumption of office, Tinubu did not leave Nigerians in doubt about what was in the offing.
“Fuel subsidy is gone” was his first major pronouncement on the day of his inauguration. This triggered a chain of events that have totally subdued many Nigerians. From that inauguration day, the price of fuel rose sharply from about N158 a litre to above N600 a litre. Prices of other commodities also skyrocketed. A bag of 50 kilogrammes of rice was between N30,000 and N35,000 early last year. Today, it has jumped to about N80,000. As of last December, a painter of garri was about N1,500. Today, it is about N4,000. Yam, beans, meat and other food items are out of the reach of many Nigerians as their prices have quadrupled. When Tinubu took over power in May 2023, the rate of inflation was 22.41 per cent. Food inflation rate then was 24.82 per cent. As of April 2024, headline inflation was 33.69 per cent; food inflation has reached 40.53 per cent. It will likely go higher by the time the rate for May is released.
Companies are the worst hit in all this. The volatility in the exchange market has dealt with many of them. From about N461 to a dollar when Tinubu assumed office, the exchange rate is now about N1,500 to a dollar. Multinational companies that couldn’t cope with this situation have shut down operations in Nigeria. Pharmaceutical giant, GlaxoSmithKline, and Procter & Gamble are typical examples.
Many of the companies still managing to operate are gasping for breath. In 2023, Nigerian Breweries, MTN, Nestle and many others posted losses. The future business climate remains uncertain. Many people have lost their jobs. Those who are still working do not earn a living wage as the amount of expenditure far surpasses the amount of income. In simple terms, Nigerians have become poorer, hungrier and angrier. This is contrary to Tinubu’s campaign promise that our cities and towns would witness a level of industrial activity unprecedented in Nigeria’s history.
The power sector is still bleeding. Tariff for electricity consumers on Band A was increased from N68 per kilowatt-hour to N255 per kWh. After much protests, the tariff was reduced to N206.80 per kWh. Most consumers who are not on Band A category do not have steady power supply. Some go for days and weeks without electricity.
Some of those who managed to build houses in some of our cities have had their buildings demolished under different guises. From the look of things, this government has demolished more houses than it has proposed to build. Many people go without shelter, without food and without other essential things that make life worth living.
The tragedy of it all is that those at the helm appear not perturbed by the plight of the people. They waste money as if we have unlimited reserves somewhere. They gallivant around the globe in search of elusive foreign investments and other inanities. In a country where the minimum wage is N30,000, our federal lawmakers went home with exotic sport utility vehicles worth between N130 million and N160 million each. These are legislators who concern themselves more with reverting to our old national anthem and singing, “On Tinubu’s mandate we stand.” They have earmarked N10 billion for National Assembly car park and recreational facilities but could not release reasonable funds to revitalize our universities. Our President and some governors move around in convoys that make you wonder if we shouldn’t rename them emperors.
We had thought that this government would stop unnecessary borrowing that characterized the previous administration. But it has continued on the borrowing binge such that Nigeria’s public debt reached N97.3 trillion as of the end of December 2023. As of the end of the third quarter of 2023, the debt profile was N87.91 trillion. There are plans to borrow more.
If these borrowed funds were invested in our education and health sectors, Nigeria would not be where it is today. Academic Staff Union of Universities (ASUU) will not continue to threaten strike as it has recently done. And our health professionals will not continue to migrate in droves to foreign lands even when Tinubu promised to invest greatly in health care and initiate deliberate policy to retain skilled manpower in that sector.
Above all, our security situation will not be as dire as it is today. In Tinubu’s one year in office, over 7,800 people have been killed in different violent attacks in the country; close to 5,000 people have been abducted. Though this spate of insecurity did not start today, this government is yet to find lasting solutions to it. Nobody is safe and nowhere is immune to the atrocities of terrorists and bandits in our midst.
To be fair to this administration, it has recorded a few achievements. In the education sector, Tinubu promised in his ‘Renewed Agenda’ to ensure abundance of qualified capable educators, introduce student loan and special education loan fund, among others. The student loans scheme appears to be making headway as the application portal is now open for Nigerian students in federal higher institutions. He has also succeeded, for now, in holding the ASUU from going on strike.
He promised to reposition the police and ensure peaceful communities, secure borders and safe forests. A number of terrorists have been sent to their makers. To his credit is the rescue of 137 Kaduna schoolchildren kidnapped from their school in March this year. The other day, a Boko Haram terrorist commander, Adamu Mohammed, and five of his members surrendered to troops in Borno State.
The government has also tried with regard to the Compressed Natural Gas (CNG) buses which it initiated to reduce dependency on fossil fuels and increase the usage of cleaner and cheaper energy sources. There is a presidential mandate that all future vehicle or generator acquisitions by government and its agencies must utilize either CNG, solar power or electric energy.
The President has continued to assure Nigerians that things will get better; that the difficult decisions of today will lead to a prosperous tomorrow. My little advice to him is to always think of the effect of any of his reform policies on the citizens. The role of government is not to punish the people, but to ensure their welfare and security. We will continue to be hopeful. But let’s pray that many Nigerians will still be alive in the next three years to enjoy the dividends of these painful reforms.
Re: Rivers’ many battles
Mr Casmir, thanks for your detailed analysis of political crisis currently going on Rivers State between former Governor Nyesom Wike and Governor Siminalaye Fubara. Wike should be told he was not the first or last person that made someone to climb to exalted positions anywhere in the world. What Wike allegedly demanded in return for making Fubara governor is too outrageous that no godson born of a woman could have tolerated Wike’s excessive control for too long. Now His Royal Highness, Amayanabo of Twon Brass in Bayelsa State, Diette-Spiff, Ada George, Peter Odili, Rotimi Amaechi, are all former governors in Rivers State. There were no serious issues created during or after their tenures. This is a lesson to many godfathers in Nigeria: to fear almighty God, respect their godsons, the masses and remember six feet final resting place. Millions of Nigerians are angry with Wike’s attitude. Wike should be told that his style of political leadership can only happen in past centuries of master and slave era. Wike has succeeded in making more enemies for himself in larger part of Rivers state, many states in South-South and South-East.
– Abdulrahaman Orgaji Jimoh, Oshodi, Lagos. 0802 355 2194
Casmir, the unfolding drama in Rivers is a typical example of what rage can do in the political life of a politician who is bitter against his party (PDP) and seeking personal vendetta! This drama can be rightly tagged “the fist of fury”. Wike is operating with a mindset of ‘if I can’t have it, then, I have to destroy it’; due to the back-stabbing experience he had at the PDP convention, as well as being denied the ticket of VP candidate. To him, it is now my way or the highway. He is operating like a bull in a China shop. Wike is accustomed to having things his way and just can’t tolerate anyone, especially his mentee Fubara, oppose him. He feels Fubara betrayed him by not being loyal and just can’t let go as he continues to nurse his wounds over crushed egos. With Wike having two faces and Fubara still loyal to PDP, a clash of ego & will was imminent! A compromise needs to be reached by these two personalities with big egos. Obviously, the unwritten gentleman’s pact Wike thought he had with Fubara has not worked. But it is time for soul searching by these two dramatis personae. Enough of stoking the embers of war. It is time to jaw-jaw and not war-war. It is time to forgive each other. Blessed are the peace makers.
– Mike Mushin, 0816 111 4572