President Bola Tinubu’s inaugural address to the nation on May 29 at the Eagle Square, Abuja explicitly shed more light on his vision, mission and plans, which have rekindled hope about a turn-around across the critical sectors, if they are faithfully implemented, writes Deputy Editor EMMANUEL OLADESU
Bola Tinubu, new servant of Nigeria, has unfolded a deal. It is a bundle of contract with terms that are binding on him. The pact makes him accountable, not only to Nigerians across the six geo-political regions of the highly heterogenous nation-state, and the constitution, but also to his Creator who has given him the rare opportunity to serve as President and Commander-in-Chief.
In a speech that has been hailed across the globe for its clarity, depth and reassurance, a soothing balm oozed out from his mouth to citizens raising concern about national unity. Tinubu adorned his characteristic national outlook and assured the most populous African country of inclusiveness. “I will be president of all,” he said, adding: “Whether from the winding creeks of the Niger Delta, the vastness of the northern savannah, the boardrooms of Lagos, the bustling capital of Abuja, or the busy markets of Onitsha, you are all my people. As your president, I shall serve with prejudice toward none, but compassion and amity towards all.”
There may be a difference between Tinubu and many of his predecessors. He is a financial surgeon; knowledgeable about the economy. A democrat, he is skilled in mobilisation of the political class, technocrats and other vast talents, which he can harvest to fuel national development. His wife, Senator Oluremi, has spoken his mind. She said at this stage of mortal existence, Asiwaju Tinubu’s priority is not wealth accumulation. He is in Aso Villa to do the right thing. What he only requires are total support and understanding of Nigerians, when decisive steps and tough decisions are taken in national interest.
From the angle of the Tinubus, it is the first step for plotting a better society nurtured by collective sacrifice, patriotism and dedication to national survival.
Nigeria under Tibubu, like his predecessors as from 1999, has the unique privilege of building on political stability. What is required now is an opportunity to savour its accompanying economic reward.
The president acknowledged the essence of stability as a factor in development when he observed that the peaceful transition from one government to another is now our political tradition. The handover to him, he said, symbolized the nation’s trust in God, its enduring faith in representative governance and collective belief in the ability of Nigerians to reshape the nation into the society it was always meant to be.
He paid tribute to former President Muhammadu Buhari, who handed over to him, describing him as a honest, patriotic leader who has done his best for the nation; a worthy partner and friend, who will enjoy the kindness of history.
Tinubu alluded to strong factors that have kept the country going. These are its resilience and diversity. The allusion imposes a challenge. Nigeria can only continue to exist and survive in an atmosphere of unity in diversity. It makes the restoration of what is now called true federalism more compelling. It is the key to peaceful existence.
Governing Nigeria, an amalgam of incompatible social formations, is a herculean task. The ethnic groups differ. There is also a conflict of religion. For Tinubu, there is a way out. He has promised to consult and dialogue, adding that he would never dictate, he would reach out to all, but never put down a single person for holding contrary views. If this approach is adopted, fence mending and national healing become possible, instead of tearing apart and injuring sensibilities.
In a diverse country like Nigeria, achieving consensus may be difficult. But, it is possible. Election, for example, as the mode of leadership recruitment, has been a nightmare. It is always problematic. Tinubu observed that the historic February poll “was a hard fought contest,” but “also fairly won” and its outcome reflected the will of the people.
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However, he quickly added that his victory does not render him any more Nigerian than his opponents, nor does it render them any less patriotic. He waved the olive branch, saying that these compatriots-former Vice President Atiku Abubakar of the Peoples Democratic Party (PDP) and Peter Obi of the Labour Party (LP)-represent important constituencies and concerns that wisdom dare not ignore. He conceeded to them the right to seek legal redress, the law being the regulator of politico-human relationship and the court being the last arbiter and hope of the ‘common man.’ “This is the essence of the rule of law,” he said.
Tinubu called for the brotherhood of those who voted for him and against him, proclaiming the fading of political colouration in post-election period and resumption of tasks of development. What he sees now are not voters, but Nigerians who deserve a new lease of life.
The president recognised the limitations of the constitution and laws that gave Nigerians a nation on paper. He said the documents can be strengthend through
the bonds of economic collaboration, social cohesion, and cultural understanding, and through a shared sense of fairness and equity.
In calling for national unity, the president emphasised that the South must not only seek good for itself, but must understand that its interests are served when good comes to the North. Also, the North must see the South likewise.
Tinubu outlined a few initiatives that will define progressive good governance, in furtherance of the Nigerian ideal, under his leadership. These include impartiality, based on the constitution and the rule of law; war against terror and criminality that threaten the peace and stability of Nigeria and the sub-region; remodelling of economy through job creation, food security and abolition of extreme poverty; women and youth inclusion; and a credit culture to discourage corruption and strengthening of the anti-corruption agencies.
Some of the issues that agitated Nigerians in pre-Buhari years have persisted, but not due to lack of effort. One of them is insecurity, which in Tinubu’s view, hinders peace and prosperity. The new method he is taking is the reform of “security doctrine and its architecture.” Investment in security personnel and equipment is key. In addition, the president said his administration will provid better training, equipment, pay and firepower.
Many Nigerians were not happy that insecurity lingered under Buhari, a General. They will be disappointed if the economy does not improve under Tinubu, an accomplishe accountant, financial surgeon, boardroom guru and two-term governor of Lagos State, reputed to be the fifth largest economy in Africa.
His prescriptions are capable of yielding positive results. The president is targeting a higher Gross Domestic Product (GDP) while trying frantically to reduce unemployment. He is proposing a budgetary reform that will stimulate economy and without engendering inflation, an industrial policy that will utilise fiscal measures to promote domestic manufacturing and lessen import dependency, and stable electricity supply.
Many believe that if power is regular, the informal sector will have no cause for alarm. Therefore, according to the new plan, Tinubu, who had proposed Eron/PPP as governor of Lagos, now believes that power generation should nearly double while transmission and distribution networks should be improved.
Also, by encouraging states to develop local sources, Nigeria is retracing its steps to the path of federalism.
The era of an improved ease of business may have come. To the investors, both local and foreign, Tinubu assured that the new administration shall review their complaints about multiple taxation and various anti-investment inhibitions.
As part of strategies for guaranteeing a conducive environment for investment to thrive, he said the Federal Government will ensure that investors and foreign businesses repatriate their hard earned dividends and profits home.
During the campaigns, Tinubu as candidate of the ruling All Progressives Congress (APC) promised jobs for teeming youths. They are full of expectations. Tinubu said he will not renege on his avowed commitment to youth welfare through the creation of one million jobs through digital economy, adding that “our government also shall work with the National Assembly to fashion an omnibus Jobs and Prosperity bill.”
He stressed: “This bill will give our administration the policy space to embark on labour-intensive infrastructural improvements, encourage light industry and provide improved social services for the poor, elderly and vulnerable.”
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Another priority is agriculture. No country can survive if it depends on other nations for food importation. Tinubu has offered a ray of hope. He plans to secure rural income through commodity exchange boards that will guarantee minimal prices for certain crops and animal products. A nationwide programme for storage and other facilities to reduce spoilage and waste will also be undertaken.
Tinubu said agricultural hubs will be created throughout the country to increase production and engage in value-added processing. The proposal, similar to the farm settlements of old, is just beginning to catch up with what the late Chief Obafemi Awolowo introduced in the old Western Region.
But, this is a modern period. Thus, the president said the livestock sector will be modernised and steps will be taken to minimize the perennial conflict over land and water resources in this sector.
Tinubu believes that through these actions, food shall be made more abundant, yet less costly, and farmers will earn more while the average Nigerian pays less. The starting point is rural development through the construction of roads that connect the farm and farmers to the market. Good canning system will also not allow perishable crops to rot away on distant farms.
Former President Buhari tried to fight the infrastructure battle. Tinubu promised to build on the legacy, assuring that progress toward national networks of roads, rail and ports will receive priority attention.
During the campaigns, Tinubu had alerted Nigerians that his administration will halt fuel subsidy. Indeed, his rivals during the contest promised to do the same. In fact, Buhari had set June as the terminal date for the regime of subsidy that has only benefitted few rich Nigerians. Reiterating his determination to implement that campaign promise, the president said “subsidy is gone.” He received the applause of economic experts. However, there is need for more public enlightment and dialogue with Labour on the inevitability of its removal.
Unpatriotic petrol dealers are deliberately hoarding fuel now to inflict pain on innocent Nigerians. This is worrisome. But, as analysts have submitted, the decision should be final.
Jusyifying the removal, Tinubu said:”We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources.”
On the gains of subsidy removal, which all and not few will enjoy, the president said:”We shall instead re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions.”
A sound and effective monetary policy is also in the offing. Monetary policy needs thorough housecleaning, he said, adding that the Central Bank must work towards a unified exchange rate. Its advantages are enormous. He said “this will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.”
Tinubu added:”Interest rates need to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level.
“Whatever merits it had in concept, the currency swap was too harshly applied by the CBN given the number of unbanked Nigerians. The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender.”
The focus of foreign policy has not changed. Like under previous administrations, Africa is still the central piece. Tinubu said the crisis in Sudan and the turn from democracy by some nations in the neighbourhood are of pressing concern. The turmoil has implications for the wellbeing of the sub-region.
The president said:”My primary foreign policy objective must be the peace and stability of the West African subregion and the African continent. We shall work with ECOWAS, the AU and willing partners in the international community to end extant conflicts and to resolve new ones.
“As we contain threats to peace, we shall also retool our foreign policy to more actively lead the regional and continental quest for collective prosperity.”
To Tinubu, Nigeria should celebrate democracy. Personally, he is in a celebration mood, having fulfilled his ambition to serve in the highest office. This, without mincing words, falls within the framework of self-actualisation. But, the knows the tasks ahead are enormous. Nigerians are impatient people. They are looking for a quick action that yields positive and better results.
As he forges ahead in his determination to foster good governance, the president urged Nigerians to join him in making Nigeria a more perfect nation and democracy such that the Nigerian ideal becomes and forever remains the Nigerian reality.
He added:”With full confidence in our ability, I declare that these things are within our proximate reach because my name is Bola Ahmed Tinubu, and I am the President of the Federal Republic of Nigeria.”
