Successive administrations in Nigeria have failed to be impressive with respect to executing electoral promises and successful delivery of outlined policies. Not to go back too much in time, the immediate past government led by former President Muhammadu Buhari anchored its campaign promises on three thrusts, namely: to stem ravaging insecurity; crush endemic corruption; and revive long-time ailing economy.
Arguably, Buhari’s administration might be given a pass mark only in the area of infrastructural renewal and development, but with very controversial performance assessment and conclusion on macro economy.
The remaining two thrusts (insecurity and corruption) were obviously nothing to write home about. On economy, despite the fact that he made himself the substantive Petroleum Resources Minister, under his watch, many turn around maintenance exercises were carried out on the refineries, yet, as we speak, the four facilities are in comatose. The Buhari administration’s spending inclusive, the resuscitation exercises on the decayed refineries have gulped as of today, not less than N113 trillion!
Buhari’s administration was unstoppable in its borrowing spree. So, it was not surprising that he left not only mind-boggling debts, but a balance sheet with “red marks”. Records from the Budget Office showed that between 2016 and 2022, the Buhari government raked in total revenues of N26.67 trillion and spent N60.64 trillion, leaving a deficit of N33.97 trillion. No wonder, the administration bequeathed to its successor, a startling and horrible debt profile of N80 trillion!
Following the worrisome state of the economy, it is understandable that President Bola Tinubu-led administration is seen to be ambitious and aggressive in its approach – both the President and his Ministers making moves and declarations, in which the President will sooner than later be questioned on how he, and his team have fared.
Of course, it’s no more news that President Tinubu ended the organised scam – fuel subsidy regime right from his inaugural speech May 29, this year. But when the realities of the new era manifested, the President became sanctimonious – admonishing Nigerians to tighten their belts. But has the same government lived up to its preaching?
Amid the ravaging economic hardship, the administration shot itself in the foot, when the President rode on a seemingly infinite convoy in Lagos city and FCT Abuja. His response to this contradiction and explanations on security reasons while engaging the organised labour leaders lacked clarity and conviction. This mismatch and similar indices informed The Eagle Online Editorial focus with the title: “Cabinet: Why Tinubu should travel light,” published on July 12, 2023 (Cabinet: Why Tinubu should travel light and with a competent crew: https://t.co/SlzQW5erN8).
The same administration, stressing prudence, again was caught in the web of discordance. Against all expectations, President Tinubu sent 48 Ministerial nominees to the Senate for screening and confirmation. The number was the highest in the history of the Nigerian democratic system! Imbued with serious concern on this disconnect in the face of prevalent realities, The Eagle Online again, in its Thursday, August 17, 2023 published another editorial, titled: “Still on humongous cost of governance,” stressing on the urgent need for Tinubu to do a critical check and make adjustments (Still on the humongous cost of governance: https://t.co/FDrfM6wAUL).
Given these variables, it is not surprising at all to see a good number of Nigerians meeting with scepticism joined with cynicism, when the President and his Ministers are lately making very aspiring promises.
For instance, almost two weeks ago, the Minister of state for Petroleum Resources (Oil), Heineken Lokpobiri, promised Nigerians that the moribund pioneer refinery in Eleme, Rivers State would come back to life in December this year. Lokpobiri’s commitment was made during an inspection tour of the rehabilitation work at the oil refining facility. The fact of the matter is that the news, though, received traction, but pitiably, achieved nearly nil conviction among Nigerians. Hardly anyone can scold the public for its hesitation, as there have been many failed promises in the past.
Similarly, there were a flurry of pushy policy announcements and capital projects delivery by the President and a handful of his aspiring Ministers. Unarguably, the peak of them was Tinubu’s directive, last week, to the Federal Ministry of Foreign Affairs to freeze the processing of visas for all government officials seeking to travel to New York, United States for the United Nations General Assembly without proof of direct participation in the official schedule of activities, while the international exercise lasts.
Now the key point. President Tinubu’s Special Adviser on Media and Publicity, Ajuri Ngelale, said by this directive, all Federal Ministries, Departments and Agencies were mandated to ensure that all officials, who were approved for inclusion in the UNGA delegation, “strictly” limited the number of aides and associated staff partaking in the event. Tinubu’s aide indicated that the move was part of a “broader effort to reduce the cost of governance in Nigeria”, as well as reflect the “prudence and sacrifice being made by well-meaning Nigerians across the nation”.
This sounds very reasonable on the surface, but the question is: how far this government could travel and to what extent could it strike in other aspects of government that wasteful spending has been their lot? It’s good Tinubu has given caveats – austere measures in the executive arm of government, but can he really walk his talk? What about the Federal legislative arm and its long criticised bloated budget?
Many might have missed this. President Tinubu recently promised that he would engage the National Assembly leadership on the pressing and urgent need for the lawmakers to allow the mood of the country to subsequently reflect in their budgeting. Again, in his maiden Federal Executive Council FEC meeting, the President declared and warned that any Minister found wanting in delivery of his administration’s “Renewed Hope” campaign agenda would be shown the way out. These are commitments and Nigerians are waiting, watching how events unfold.
Apart from Mr. President, the Minister of Federal Capital Territory, Nyesom Wike, last week promised that his Ministry would deliver the abandoned Millennium Tower project in the next two years. Wike’s promise was made after his closed-door meeting with contractors handling different projects in the capital city.
The Millennium Tower project coming alive is one commitment that not a few business-minded and creative Nigerians will have raised hope and be expectant of its fruition. Historically, the project was conceived in 2005 and presently at 40 percent completion. It comprises a cultural centre with four museums and an expansive arcade, consisting of 40,000 m2 of space capacity for hosting national and other social functions. To put it succinctly, it’s a project that would attract international attention – tourism and become another alternative source of national income.
Still counting. At the twilight of the immediate past administration, in one of his interviews, former Minister of Works and Housing, Babatunde Fashola (SAN), said former President Muhammadu Buhari invited him on assumption to office and asked him to crush whatever the ‘principalities’ impeding fixing of the arguably most plied Nigerian Lagos-Ibadan highway and ensure that it was delivered. Well, works on the road reached appreciative level, but not completed as aspired, as of the time Buhari handed over.
Last week, Fashola’s successor, Dave Umahi, announced during his inspection tour of road facilities across the country that the road would be free (completed) by mid-September this year. This is a commitment and Nigerians wait to see what happens in a few days.
Most significantly, President Tinubu has declared that his government would not follow the direction of his predecessor, with respect to borrowing. His Minister of Finance and Coordinating Minister of Economy, Wale Edun, uttered this with assertion last week Monday after the maiden FEC meeting, while addressing the State House Correspondents.
Edun declared: “Clearly, the Federal Government is not in a position to borrow at this time. Rather, the emphasis has to be on creating a stable, macroeconomic environment. Stable inflation, stable exchange rate, an environment within which people can come and invest and thereby increase production and further grow the economy. Improve, create jobs and reduce poverty.
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“So, the aim of all reforms at this time is to focus on what we call equity to focus on investment to attract investment by Nigerians. Investment by foreign direct investors and even investment by portfolio investors that want to invest in the financial aspects of the Nigerian economy, such as the stock market, and the bond market
“Per capita has fallen steadily, inflation is at 24 percent, unemployment is high, you know they are rebasing the way in which it’s calculated. Either way, it is high and youth unemployment is even unacceptably high. These are the key metrics that we have met.
“We met a bad economy and the promise of Mr. President is to make it better.”
All the commitments, promises, pledges and declarations made so far, are sweet, gladdening, soothing and good to hear. However, as established earlier, given the antecedents of the past administrations, many just took the commitments with a pinch of salt. Talk is cheap, many have dismissed and retorted.
Largely and ultimately, the buck stops on the President’s table. The constitution has provided four years as the lifespan of every democratic government in the country. As the clock tickles, the day is also counting and soon, it will be time for another election. Digitization has taken over every aspect of human life, hence, information travels faster and mobilisation of people has become a lot easier. Nigerians are wiser, more charged and politically educated now than before. Bad economy has ruined lives and businesses. Families struggle extremely hard to survive and expectations are very high. Today, the truth of the matter is: ‘The rich also cry’.
Therefore, if President Tinubu ends up making his Renewed Hope anthem a mere talkshow, Nigerians will ask questions. They will hold him by his words and, how he is able to justify and convince them would be frontally and subsequently demonstrated at the next general elections, come early 2027. It is therefore safe to counsel him, his cabinet members and the ruling class in general, that Nigerians might be depressed now, yet, are not giving up. So, if this administration is smart, as it has aspired to be perceived, it should be faced with the reality that walking its talk is the magic; the joker and will definitely be the scorecard for or against it at the next polls.
