- Fixing the Econmy
Like with every successive leadership since the return of democracy in 1999, it has become increasingly difficult to predict the performance of our nation’s leaders in office.
All the previous Presidents, from Olusegun Obasanjo to the outgoing Muhammadu Buhari, we were hit with surprises. While they could be said to have performed fairly well in some sectors, they also did poorly and far below expectation on especially some cardinal points they campaigned upon and for which Nigerians voted them for.
It will not therefore come as a surprise if Nigerians do not put much hope in the 10-point agenda for the nation unveiled by the President-Elect, Asiwaju Bola Ahmed Tinubu, which, to me is a tall order to be achieved in just four years, especially with the poor economic condition he will be inheriting.
If only, he can concentrate just on his first and the second agenda which are: (1) Build a Nigeria, especially for our youth, where sufficient jobs with decent wages create a better life, and (2) Manufacture, create, and invent more of the goods and services we require, then he would have his name imprinted in gold as one of the best leaders the country ever had.
One thing going for the incoming President is that he has the Midas touch. He has been able to achieve most of the things that he committed himself to doing. His eight years reign as the Governor of Lagos and his ability to turn the tiniest state in Nigeria to an enviable leading economic hub of the nation was something to behold.
But can he replicate that success at national level considering the scale of the challeges, including the nine-live-hydra-headed monster – corruption that so far defied solution, and the visible sabotage of the economy by some unscrplous and unpatriotic citizens that comnive with foreigners to steal crude oil; and a rotten federal civil service that is probably the spanner in the wheel that has been slowing the nation’s progress.
While these identified challenges are enormous and herclean to tackle, some of the steps to be taken by the president-elect must include austerity measures that must end the hitherto duty waivers and even ban on importation of especially luxury goods and textile, if Lagos, Aba, Kano, and Kaduna textile industries are to be revived, among other solutions in reducing unemployment.
The Jagaba must be commended for his promise to do away with fuel subsidy that cost the country about $10 billion in 2022 alone, according to Jamuary 2023 report by Reuters news agency quoting figures released by the Nigerian National Petroleum Company (NNPC).
(To be continued)
