Tag: Tinubu administration

  • The Tinubu administration and its malcontents (2)

    The Tinubu administration and its malcontents (2)

    It is difficult to credibly dispute the assertion that hardly any politician in post-colonial Nigeria has faced as much opposition, hostility and undisguised hatred against the realization of his political ambitions as President Bola Tinubu. Both as governor of Lagos State from 1999 to 2007 and now the occupant of Nigeria’s apex position of power since May, 2023, Tinubu continually confronted and overcame persistent efforts to distract him and ensure his failure to achieve set political goals. His unanticipated triumph in the 2023 presidential elections despite vehement and bitter attempts to prevent his emergence as the candidate of his party, the All Progressives Congress, (APC), the concerted and surreptitious subversion of his candidacy by a powerful and influential cabal in the immediate past President Muhammadu Buhari administration and the unprecedentedly vicious campaign of calumny he faced particularly from the opposition Peoples Democratic Party, (PDP)

    and Labour Party, (LP), fueled the unabating antagonism against his administration right from its inception by malcontents both within the ruling party and in the opposition.

    Thus, although his administration has just passed the two- year mark in its first term in office, aggrieved political elements who are aggravated at their perceived marginalization within the APC as well as implacable adversaries in the perennially crisis-ridden major opposition parties are openly talking and planning towards the formation of a coalition to dislodge the President and his party from power in 2027. During his visit to Benue State in response to large scale killings in parts of the state by marauding gunmen, Tinubu acknowledged that his opponents hate him “like hell” though he remains their President. And in Nasarawa State where he went to commission some legacy projects of the Engineer Abdullahi Sule administration, the President taunted those plotting the coalition to unseat him in 2027 describing them as internally displaced politicians.

    Yet, the security agencies curiously appear to suspect no linkage between the bitterness of many of those who have drawn a battle-line against the President and the persistence of unrelenting bloodletting in parts of the country which appear to be deliberately instigated to lend credence to unceasing efforts to discredit and delegitimize the administration. Surely the security agencies should send an unmistakable signal to those malcontents who have been making incendiary and reckless pronouncements against the President and his administration and who are alleged to have a track record of having sponsored violent subversions of the Nigerian State in the past, including publicly threatening foreign elections observers that they would leave the country in body bags, that it is closely watching them. The inexplicable lethargy of security agents when some aggrieved political groups and individuals have openly called for military intervention to overthrow this democratic dispensation has undoubtedly emboldened such elements to persist in their strenuous efforts to destabilize the polity.

    The strategy of the malcontents is obviously to portray the hardships attendant on the administration’s reforms such as removal of the fuel subsidy and merger of the parallel foreign exchange markets leading to the devaluation of the Naira as a deliberate decision to inflict pain on the people as if the reforms were avoidable. But the economy, which as the eminent economist, former governor of the Central Bank of Nigeria, (CBN), and now Anambra State governor, Professor Chukwuma Soludo, has noted was practically comatose at the inception of the Tinubu administration, needed urgent corrective surgery, which Tinubu and his economic team promptly administered. It was a situation akin to the dentist in Woke Soyinka’s novel, ‘Season of Anomy’ who had to inflict the discomfort of tooth extraction on his patient to save the latter in the long run from excruciating tooth decay and pain.

    But a large number of the ever increasingly sophisticated Nigerian electorate are not unaware that all the major presidential candidates in the 2023 general elections had promised to implement far reaching and long overdue economic reforms such as removal of the fuel subsidy. During the campaigns, the voluble LP candidate, Mr Peter Obi, had said severally on national television that he would remove the subsidy,  which he described as an elaborate scam, “on day one” but now insists that had he been elected President, he would have done so gradually after putting in place measures to alleviate the pain without elaborating on how he would do this. In their plan to predicate their campaign against Tinubu and the APC in 2027 on the hardships associated with the reforms, the desperate opposition politicians angling for an electorally viable coalition appear to discount the fact that the APC had won off-season elections in Ondo, Imo, Kogi and Edo States even after the reforms of the Tinubu administration had set in.

    Even as they continue to seek the actualization of their coalition plans, it is obvious that the anti- Tinubu malcontents will be relentless in their demonization and concerted efforts to demystify and delegitimize the incumbent APC administration by vehemently denying and denouncing even its most glaring accomplishments. As the ongoing reforms continue to show signs of bearing fruit and achieving set objectives with downward trend in inflationary spirals, systematically increasing productivity, growing employment and prosperity, the more strident will be the efforts to vilify and portray the administration as non-performing in the hope that assertions repeated often enough, possibly with the aid of Peter Obi-type of manufactured statistical mumbo jumbo, will be readily believed by a gullible public despite the reality. And they will be enthusiastically sided by a section of the media still hurting at Tinubu’s emergence as President despite their no-holds-barred exertions to ensure his defeat.

    In the past week, for instance, former Vice President Abubakar Atiku has tried to resuscitate public discourse around the stale issue of President Tinubu’s academic records despite the futility of his litigation of the matter both in the United States and at the highest judicial level in Nigeria in the last election. He even tried to taint the President as associating with an allegedly corrupt Belarus businessman without any evidential basis for the allegation. Atiku probably thinks that most Nigerians had forgotten that it is on record that a Congressional investigation in the US indicted him for allegedly criminally transferring over $40 million into various accounts of his fourth wife, Jennifer Douglas, in the US during his tenure as Vice President.  Similarly, the former governor of Kaduna State, Nasir El’Rufai, has continued his round of television talk shows this time claiming that members of the coalition had commissioned an opinion poll which showed that Tinubu could in no way win the 2027 election. He is probably unaware that what he needs more urgently is an opinion poll that indicates with acceptable accuracy and credibility his current standing in Kaduna State which he governed with unprecedented arrogance and impunity between 2015 and 2023.

    The former governor of Jigawa State, Alhaji Sule Lamido, was also on television trying to rewrite history by distorting Tinubu’s well documented and applauded role in the struggle against the annulment of the June 12, 1993, presidential election won by Chief M.K.O Abiola and claiming that the President supported a military atrocity that he actually expended humongous resources and risked his life to fight against. Luckily, Lamido has been unable to respond to the exposure by Dr Dele Alake and Mr Bayo Onanuga on how, as National Secretary of the defunct Social Democratic Party (SDP), he worked in concert with the National Chairman, Chief Tony Anenih,  to trade away Abiola ‘s mandate. But President Tinubu and his party should expect these outright falsehoods and historical distortions to continue especially as it becomes increasingly difficult to credibly fault the administration on the basis of incompetence or non-performance.

    Read Also: Makinde greets Muslims on Hijrah 1447, urges prayers for Oyo, Nigeria

    Initially, the APC gave the impression that its main strategy in response to the ceaseless, often baseless, onslaughts against the Tinubu administration was to utilize its power of incumbency at the centre and the control of the advantage of patronage to lure key opposition figures to defect from their parties and join its ranks. The party had scored a major victory in this regard with the defections of the incumbent governors of Delta and Akwa Ibom States with the entire government machinery and PDP party structures in their states into the ruling party. At the same time, significant numbers of National Assembly members from the PDP and the LP have continued to stream into the APC almost on a weekly basis. This has prompted allegations from some opposition politicians of attempts by the APC to turn Nigeria into a one-party state based on the unproven supposition that it is the ruling party instigating the crises that have continuously plagued and immobilized the major opposition parties in the aftermath of the 2023 elections.

    Of course, as President Tinubu stated in his maiden State of the Nation  address to the National Assembly on June 12, he does not desire a one-party state for the country but cannot be expected to assist the opposition parties in resolving their intra-party crises and running well organized, efficient and harmonious party entities. However, in my view, the APC, by beginning to more effectively showcase the achievements of the governments elected on its platform at the federal and sub-national levels is laying a better and more convincing foundation for its campaign towards the 2027 elections than merely attracting opposition politicians to join its ranks. This is because the phenomenon of political vagrancy, which has been a common feature of Nigerian politics right from the First Republic, smacks of opportunism and a deficiency of principles on the part of political actors. There is really no way to ascertain that a defecting politician from one party to another is not  doing so for self -serving reasons rather than the new platform offering a better opportunity for public service.

    However, in the last few days, President Tinubu has been in Nasarawa and Kaduna States to commission well publicized legacy projects in diverse sectors including education, healthcare, agriculture and road infrastructure. For the past one week, the Borno State government has been advertising over 1,339 projects implemented across diverse sectors by the administration of Professor Babagana Zulum in the print and electronic media. In the last ten days or more, the Federal Capital Territory, (FCT), Minister, Barrister Nyesom Wike, has been inaugurating a plethora of projects including ultra modern roads, water projects, a modern bus terminal, interchange bridges and the radically modernized President Bola Tinubu International Conference Centre, with the President personally launching most of these facilities. True, Wike is of the PDP but the credit for the ongoing transformation of the FCT goes to the APC administration in which he is serving.

    Before now, President Tinubu was in Lagos to launch the first 30 km of the ongoing path-breaking Lagos-Calabar Coastal Highway as well as the new access road to the Lekki Deep Sea Port. Among the major highways on which work is going on across the country under the superintendence of the Minister of Works, Engineer David Umahi, are the Bodo-Bonny Road, Second Niger Bridge Access Road, Enugu-Port Harcourt Expressway, Benin-Asaba Super Highway, Abuja-Lokoja- Benin Road, Enugu-Onitsha Expressway, 9th Mile-Oturkpo-Makurdi-Road and Abuja-Kaduna-Zaria-Kano dual Carriage Way. This week, the President launched the distribution of 2,000 advanced tractors and thousands of farming implements including 50 industrial-grade land preparation booths, 12 fully equipped mobile workshops, and over 8,000 specialized farming implements under the Renewed Hope Agricultural Mechanization Programme, designed to boost food security and national prosperity.

    Even when the President has been in states controlled by opposition parties such as his being invited to commission projects delivered by Professor Soludo of the All Progressives Grand Alliance (APGA) in Anambra State earlier in the year, the governors have openly declared that the federal government’s economic reform policies under Tinubu had made substantially more resources available to the sub-national governments thus enabling them to meet recurrent expenditure obligations without jeopardizing the implementation of critical capital projects. The most critical advantage of the APC’s incumbency at the centre is not the power to attract opposition politicians into its ranks but that of conceptualizing and actualizing key projects to build the country’s economic capacity and generate prosperity in such a way that the most inveterate malcontents will be unable to impugn the administration’s efficacy, efficiency and effectiveness with any degree of credibility or integrity. It would be unwise for the APC to allow its governments at the centre and in the states to be distracted from productive governance with a premature preoccupation with the 2027 polls at this time.

  • Ahead of midterm, emerging signs favourable for the Tinubu administration

    Ahead of midterm, emerging signs favourable for the Tinubu administration

    Although the Tinubu Administration’s midterm is five months away, President Bola Ahmed Tinubu can proudly reflect on his administration’s journey over the last 19 months. After initial turbulence, the government concluded 2024 stronger than 2023, as many policies began yielding significant results that even the most ardent detractors could not ignore.

    Under President Tinubu’s leadership, NNPC Limited has fixed two of the four state-owned oil refineries, achieving what many had cynically regarded as improbable. 

    The administration’s efforts have led to a rise in crude oil production, with an expected inflow of more dollars into the Federation Account and remarkable accretion into the foreign reserves. The government remains focused on gas development, attracting investors’ interest. 

    Dollars have flowed into the country through fresh investments in several sectors. The administration created an innovative Ministry of Livestock Development to unlock the previously untapped potential in animal husbandry, steering the country from tragedy to opportunity.

    The lucrative stock market ended the year on a high note, breaking its initial record under the Tinubu presidency. The All Share Index hit over 103,000 from 55,738 on May 30 2023. Market capitalisation is over N63 Trillion. In the last 19 months, local and foreign investors have invested unprecedented amounts in the market.

    The government is also expanding the national road infrastructure stock by building legacy superhighways from Lagos to Calabar and Sokoto to Badagry.

    The administration’s successful euro bond issuance of $2.2 billion notably attracted over $9 billion in interest, while a domestic dollar bond of $500 million was oversubscribed. These developments indicate confidence in the Nigerian economy.

    Revenue generation has increased, and all tiers of government received more funds to spend on the welfare of Nigerians, including the 774 local councils that recently won financial autonomy.

    November and December 2024 proved especially remarkable. Shell and Partners announced an estimated $5 billion investment in the Bonga North oil field. Brazil’s JSB, one of the world’s leading integrated livestock companies, announced a $2.5 billion investment in livestock development in Nigeria, with some officials flying into the country to actualise the pledge. Fuel prices began to decrease amid competition from local refineries, supporting President Tinubu’s belief that market forces would lower the prices of consumer goods to benefit Nigerians. 

    Read Also: El-Rufai lied on alleged Yorubanisation of Tinubu’s government – Omokri

    For the first time in our history, the proposed 2025 budget included no provision for a fuel subsidy. There was no scarcity, too. Instead, the government has proposed more funds for capital expenditure, health, education, and national security in the record-breaking N49.7 trillion budget. Critics remain silent as positive indicators continue to emerge.

    Not an accidental president, Tinubu took office on May 29, 2023, with a clear vision for Nigeria: to renew hope through a programme of action to foster economic diversification, stability, and prosperity and build a trillion-dollar economy.

    He has implemented many of his campaign promises and those in his Renewed Hope Agenda.

    Although unintended consequences have emerged, temporarily affecting the well-being of all Nigerians, the administration is working hard to ameliorate the burden on the masses.

    President Tinubu consistently implements reforms, daring to confront headlong the country’s many hydra-headed socio-economic problems and committing to the transformative change the country urgently requires. Posterity will be kind to him and remember his era as a reform-minded leader.

    Positive signs continue to emerge: apart from declining fuel prices, the country recorded foreign trade surpluses for three consecutive quarters, foreign reserves are rising, and the Naira is gaining strength against the US dollar.

    One notable achievement of President Tinubu’s tenure is fulfilling his promise to implement a student loan programme. This initiative financially supports students, ensuring that higher education is accessible to all, regardless of economic background. Investing in the education sector, the administration aims to empower the youth and equip them with the skills needed for Nigeria’s future growth.

    In addition to the student loan scheme, President Tinubu has advanced the consumer credit initiative, another campaign promise, and plans to deepen it in the first quarter of 2025. 

    Promoting access to credit is part of the administration’s broader strategy to stimulate consumption, drive entrepreneurship, and boost the domestic economy.

    On his first day in office, President Tinubu decisively eliminated the fuel subsidy, which had long burdened Nigeria’s economy. While the initial removal triggered higher fuel prices, the market is now experiencing a downward trend. This development illustrates the administration’s commitment to market-driven pricing and economic efficiency, which should benefit public investment in critical sectors in the long term.

    The administration introduced electric vehicles and Compressed Natural Gas (CNG) as alternatives to reduce Nigerian dependency on petrol. In the past 12 months, more Nigerians have converted their vehicles to CNG, spurred by government and private sector investment. A new industry is gradually unfolding, creating new jobs along the value chain whilst promoting a cleaner environment.

    Another bold economic reform was unifying Nigeria’s multiple exchange rates, which previously caused economic distortion, criminal arbitrage, and speculation. Following an initial depreciation, the Naira has stabilised against the US dollar, reflecting increased investor confidence and a more transparent foreign exchange policy.

    Investment inflows further testify to the positive impact of President Tinubu’s policies. The oil, gas, and solid minerals industries are experiencing renewed interest and investment. These sectors are crucial for enhancing Nigeria’s export capacity and creating jobs, thus driving economic diversification and growth. Moreover, Nigeria’s foreign reserves have shown a promising increase, bolstered by improved trade balances and strategic monetary and fiscal management.

    Looking ahead to 2025, President Tinubu plans to introduce what could be his most transformative reform yet—tax restructuring. With four bills before the National Assembly, the proposed reform seeks to streamline tax systems and administration in Nigeria to promote better investment and a friendly business climate.

    Under the proposed tax reform, low-income earners under the minimum wage bracket and small businesses within a certain threshold will be exempt from paying taxes. The administration’s mantra is that taxes should focus on prosperity, not people’s or businesses’ hardships. 

    The government focuses on expanding the tax net, making taxes less burdensome to taxpayers, and getting wealthy people to pay their fair share. This progressive approach reflects the administration’s commitment to equity and fiscal sustainability.

    However, the road to reform does not come without challenges. President Tinubu faces resistance, particularly from politicians and tax evaders who have expressed concerns about the implications of the changes that will come with reforming our tax systems. President Tinubu, who is not oblivious to the pushback, has said he is willing to make necessary adjustments, as democracy is about negotiations, give and take.

    President Tinubu’s administration has demonstrated firm determination over the last 19 months to succeed against all odds and reposition the economy for better performance.

    While challenges remain, especially with food inflation, President Tinubu’s leadership has shown a proactive and committed approach to addressing these issues. The administration’s trajectory suggests a path toward Nigeria’s economic stability and social development. Though it is not midterm for the administration, realising a prosperous and equitable country looks promising and achievable. 

    /The Tinubu administration is undoubtedly steadfast in its resolve to improve Nigeria, and it’s on course to achieve all the campaign promises to the people.

    -Onanuga is the Special Adviser on Information and Strategy to President Tinubu

  • Fed Govt cushioning effects of reforms, say ministers

    Fed Govt cushioning effects of reforms, say ministers

    • 20m Nigerians get cash support

    • Petrol subsidy removal has opened sector to investment

    It was another opportunity yesterday for senior figures of the Tinubu Administration to lay out the government’s policies and how they have impacted the people.

    The occasion was the briefing by Secretary to the Government of the Federation (SGF) Senator George Akume on the activities lined up to mark the 64th independence anniversary.

    No fewer than 20 million Nigerians have received the government’s financial support through cash transfers.

    The removal of petrol subsidy has opened up the energy sector for local and foreign investments.

    The ongoing massive road infrastructure will not only ease movement across the country but will push up economic development.

    Akume, a former governor of Benue State, is chairman of the planning committee.

    The low-key event begins today with the Jumat prayer at the National Mosque in Abuja.

    An inter-denominational Church Service will be held on Sunday at the National Christian Centre.

    There will be a broadcast by Mr. President and a military parade at Aso Villa on October 1.

    Read Also: No going back on stopping below-18 pupils from writing WASSCE, says minister

    Ministers – Wale Edun (Finance), Mohammed Idris (Information and National Orientation), David Umahi (Works), Tahir Mamman (Education) and Atiku Bagudu (Budget and National Planning) – also spoke at the event.

    While Idris gave a general outlay of the achievements of the 16-month-old Administration of President Bola Ahmed Tinubu, other ministers spoke on the specific programmes so far undertaken by their ministries.

    Akume said the government was aware of the cost of living crisis which are the unintended side effects of the bold economic reforms.

    20m Nigerians get cash support

    To Edun, who is the Coordinating Minister of the Economy, the government is measuring the number of food items being imported during the suspension of duty window so as not to discourage production.

    According to him, the maize and wheat expected from aboard would soon be delivered.

    Edun stressed that Nigeria should not rely heavily on food imports, especially with its already laid out plans and strategies for boosting domestic food production.

    To achieve this, he said the government was working on providing inputs, seeds, and fertilisers to small-scale farmers under successful schemes.

    He chairs coordinating meetings to ensure the timely delivery of essential inputs for the upcoming dry season harvest in November.

    Edun highlighted the importance of balancing imports with domestic production to avoid discouraging local farmers and millers.

    He added that the government seeks to determine the optimal quantity of imports that would not harm the agricultural sector.

    He said long-term strategies are in place to increase agricultural productivity, aiming to boost yields to comparable levels with developing countries.

    “We should not be importing food and the strategy and the aim and objective of government is to get us out of that situation as soon as possible.

    “The work on the remainder of the wet season harvest, providing inputs, seeds, fertilizer to small scale farmers, particularly under the Nigerian Agricultural Growth Scheme and Agri-pocket Scheme, which has been successful, is ongoing.

    “Government has already procured maize and wheat, which is on its way. As regards the other importers, it is critical that we do not disrupt the domestic production of food.

    “It is critical that we do not disrupt farming in Nigeria by flooding the market with imports that now put prices where farmers are now discouraged from engaging in production and millers are discouraged from engaging in food processing”, he said.

    Edun described petrol subsidy removal as a “necessary, bold, and courageous” move by President Tinubu, adding that the policy has garnered international support, attracting concessional financing to bolster the economy.

    The minister, however, noted that it led to increased prices, prompting intervention schemes, which have provided direct benefits to approximately 15 million households, covering 75 million Nigerians.

    He said 840,000 payments were recently made to 4.4 million households, covering 20 million Nigerians, adding that the government aims to scale up these interventions, focusing on the poorest and most vulnerable.

    Edun highlighted the benefits of domestic refiners buying crude from NNPC in naira, citing lower oil prices as an opportunity for reduced petroleum product prices.

    The removal of subsidies has opened up the market to competition and pricing, he noted.

    Economic growth is slower than rise in population

    Bagudu, shed light on the imperative of President Tinubu’s economic reforms.

    According to him, Nigeria’s population has surged fivefold since 1960, from 45 million to approximately 232.7 million, intensifying demands for government services, infrastructure, education, healthcare, and global competitiveness.

    In the last 25 years, Nigeria’s population has grown from 119 million, yet the economy has not kept pace.

    Despite this disparity, expectations for government services have heightened, driven by constitutional democracy and citizens’ awareness of their rights.

    As a result, Nigerians are seeking improved infrastructure, water, schools, empowerment, and opportunities for meaningful lives.

    According to Bagudu, the Tinubu Administration recognises the need to confront these challenges head-on without playing the blame game, adding that the government aims to mobilise the populace by acknowledging past efforts and collective responsibility.

    “The easiest way to mobilise a populace is to quit the blame game, admit the challenge, and mobilise the populace so that we confront the challenge.

    “He was sworn in at a time when the world, countries in the industrial world and many developing countries are facing a cost of living crisis,” he said.

    Lagos Ibadan, Second Niger Bridge, Abuja-Kano Road for tolling

    Umahi said the government inherited a lot of challenges as far as roads in the country were concerned.

    He explained that poor design and supervision of the roads, coupled with poor construction were the problems the administration met on ground.

    He, however, said the Federal Government had improved on the design of the roads and the President has also introduced new windows for infrastructure funding.

    Umahi said the Federal Government would toll all major roads in the country upon completion of construction and renovation.

    “We have the Lagos-Ibadan (Expressway), we are completing it and we are tolling it,” he said.

    He listed some of the roads as Lagos-Ibadan Expressway, Second Niger Bridge, Abuja-Kano Road, and Makurdi-9th Mile, among others.

    The former Ebonyi State governor said the tolling of federal roads “is going to bring a lot of money to the Federal Government”.

    Umahi said private sector members have been engaged “to bring in funds, construct these roads, work with the Infrastructure Concession Regulatory Commission and the Ministry of Works to toll these roads”.

    The minister said the government would start with the Keffi-Makurdi Road that has been completed, adding that his ministry has been engaging with the Ministry of Finance for a paperless mode of payment.

    He said: “If there is security, where the response time will be 10 minutes on the entire corridor, where you have solar light permanently and reduced travel time, and through the tolling, the roads are maintained, there will be confidence because Nigerians will pay if the roads are good.”

    He said this administration inherited a total of 300 damaged roads and bridges, adding that more road constructions would commence from October 1 across the six geopolitical zones.

    Reforms addressing missteps of past

    The series of transformative policies and reforms are designed to address the missteps of the past, Idris said.

    “Under the visionary leadership of President Tinubu, we have initiated transformative policies and reforms aimed at correcting the missteps of the past and repositioning Nigeria as an economic superpower in the near future.

    “Despite global economic headwinds and the transitional pains accompanying some of the reforms, the President has remained focused in his efforts towards reviving our economy and returning the country to the path of prosperity and sustainable growth,” he said.

    Idris noted that one of the significant setbacks to rural socio-economic development is the absence of direct fiscal control by elected local government administrations.

    The Minister said President Tinubu had taken a decisive step towards implementing local government autonomy, by seeking a verdict from the Supreme Court.

    According to Idris, this action demonstrated a commitment to a deep-rooted restructuring of the country.

    The court directive, he added, would promote development, effectiveness and accountability in the local councils.

    The minister said the reforms were also tailored to ensuring macroeconomic stability, stabilising the foreign exchange regime, and reforming the tax system to make it more efficient.

    “The administration is reducing the burden on Nigerians and repositioning our oil and gas sector to attract new investment,” he said.

    Idris said that with the removal of the petroleum subsidy, President Tinubu is gradually guiding Nigeria into an unprecedented energy transition phase.

    He said the President had launched a presidential initiative to move the country from fossil fuels to Compressed Natural Gas (CNG) for vehicles and machinery.

    “The ongoing rollout of CNG and associated infrastructure is reducing transportation costs for Nigerians by up to 60 per cent, creating jobs, and attracting tens of millions of dollars in local and foreign investment.

    “Young Nigerians now have a clearer path to sustainable tertiary education through the Student Loans (Access to Higher Education) Act 2024, which has established the Nigerian Education Loan Fund (NELFUND).

    “Complementing this is the new Consumer Credit Corporation established to guarantee access to low-cost and flexible consumer credit.

    “Therefore, we can see that, in multiple ways, the President is focused on putting more money in the pockets of the Nigerian people, and creating avenues for sustainable prosperity,” Idris said.

    The minister commended Nigerians for their patience and resilience in the very difficult period of economic evolution.

    He noted that the journey had been tough, adding: “Surely, there is light at the end of the tunnel as our sacrifices will not be in vain.”

  • Capital before compassion? Some exemplary paradigms

    Capital before compassion? Some exemplary paradigms

    This is the golden era of primitive accumulation in Nigerian politics. The Tinubu administration is caught in a difficult conundrum. Which comes first? Is it the accumulation of capital to ameliorate suffering or hoary compassion that does not feed empty stomach? As the economic tempest mounts and a frightening distemper takes firm hold in the land, even a well-known Tinubu acolyte like KWAM has mounted a stirring appeal to the president to take a second look at the plight of the poor and destitute of the land.

    This is just as it should be. Wasiu Ayinde Marshal is not your run of the mill musician who is merely interested in where the next morsel of amala will come from or the next ijagudu free for all meal. A committed, indefatigable and unflappable partisan of the Tinubu brand, he has traversed many hotbeds and hostile terrains as the Tinubu franchise gathered strength and irreversible momentum. He cannot be dismissed as a fair-weather friend of the administration.

    Despite the mounting economic travails of the nation, there are still quite a number of foul-weather well-wishers of the present administration. Despite the need for fine-tuning here and there, they believe that the government’s economic instincts are in the right place and should come together in the long run, despite the scourge of spellbinding corruption and malfeasance.

    Last Monday as yours sincerely sat down for over four hours to dissect the state of the nation  in a quiet remote corner of the famed Metropolitan Club with an older friend, industrial guru and scion of old monied class from the West’s old capital, the same issue cropped up. The chief, an unapologetic defender of the global capitalist enterprise, reaffirmed his unwavering thesis that Nigeria, like any other nation, is a permanent work in progress. When he was asked about the plight of the poor and destitute in all this paddy-paddy capitalism, he simply shrugged.

    Read Also; Tinubu’s quest for living wage for Nigerian workers: 37 to the rescue

    The chief takes an immense delight in having a dig at snooper’s leftwing antics. He once ruefully noted how much he pitied the folks at the university shouting aluta because they are merely entrenching their family in poverty when they should be lifting their next generation out of biblical immiseration. If you are a professor and you have no car, I wonder how Aluta will come to your aid.  If you are driving and you have a breakdown, Aluta certainly cannot be the name of your incorrigible mechanic.

     It is a very brutal and brutish world out there where, as Eugene Ionesco famously noted, everybody has to lift himself up by the bootstraps or sink further in the morass of hopelessness and destitution. Two days later as the car taking one to Lagos Island for an evening function suddenly let forth a volcanic belch like an exhausted camel, the chief’s words came back to haunt in all their chilling premonition.

    As the old Marina came into wondrous view this cool beautiful evening, one cannot but marvel and wonder at the dazzling and amazing transformation of the Lagos landscape. Before our very eyes, Lagos is witnessing an amazing transformation with its glittering and bewitching skyline which makes one feel as if you are in one of those emerging megalopolis of the new First World.

     Ruthless and remorseless Capital has seized the old city of Portuguese pirates by the scruff of the neck and had driven it through the crash barriers of modernity. This is no longer the ancient city bombarded to ruins by the British frigate moored of the Marina in 1861.  Captain Labulo Davies, a young Nigerian-British naval officer who took part in the bombardment wrote that after the rubble cleared, the whole city stank from the foul and fetid odor of fetishes and human sacrifices.

    This evening as one sank into a comfortable chair on the seventh floor of the former IBM office complex, the leftwing demon returned plaguing and preying on one. One remembered the former denizens of the Maroko slum hurriedly chased away to make room for those who had the need and money for real estate. Louis Althusser had cautioned that we should not glorify and glamorize the glittering monuments to western capitalism but the thousands who perished in the name of putting up the glistening emporia.

      As if monitoring the subversive train of thought, two of the Lagos big boys suddenly materialized out of the shadows to whisk one away to an adjoining bar oozing glamour and glitz. The more forceful of them, a successful entrepreneur and master of billboard advertising who has been at it since his Youth Service in 1988, wasted no time in opening proceedings.

    “Sir, your column is a must read for the powers that be. You should be setting agenda. Please start a series on the need for a total educational revamping of this country. Our higher institutions are not up to scratch and they are caught in a time-warp with modern developments outflanking them. Without their total transformation everything will be in vain. You are the only one who can do this. Let them put a broadband in every community and our youths will transform the economy in no time”, he said and suddenly broke up as if waiting for one’s reaction.

      “Don’t worry, his brain is recording everything you are saying”, the other chap noted as if reassuring the billboard entrepreneur who became even more forceful and emphatic.

     “Egbon, you see, Babangida and Tinubu are the only truly transformational leaders we have had in this country in the last forty years. Babangida for transforming the banking industry and setting capital free and Tinubu for transforming Lagos through innovative thinking. Just open the window and look at the skyline. In about ten years, you will think you are in Manhattan.”

    Then he added the clincher: “This is restructuring on the hoof. Those who think they can destroy us have only made us stronger and more resilient. They will never be able to hold a candle to our feet. In a few years, Lagos will be one of the three strongest economies in Africa and can cleanly decouple itself. Then those who have been stranded by choice will begin to agitate to leave”.

    Not a word about the staggering human cost and the prohibitive toll on the people. This is the bane of neoliberal social engineering. Snooper quickly took his leave.

  • ‘Why my cabinet is large’

    ‘Why my cabinet is large’

    • CAN seeks more time for President

    Christian leaders yesterday urged Nigerians to be more patient with the Tinubu administration as it confronts the challenges facing the country. 

    The President of Christian Association of Nigeria (CAN), Archbishop Daniel Okoh, who visited President Bola Tinubu at the State House, Abuja, pledging its support to the success of the administration.

    Archbishop Okoh told reporters that the President has been taking steps to resolve the problems.

    He said Nigerians, including the Christian community, were conscious of President Tinubu’s efforts at tackling the challenges that have confronted the countrt for many years, adding that resolving them would take some time. 

    Archbishop Okoh said: “Sincerely, what we found out is that the President is actually sensitive to all these challenges that we have. He is aware, and we see him making very positive steps, even from the beginning of his administration. By the way, he has made appointments so far.

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    “He has come with a great sense of inclusiveness. And Nigerians are having a sense of belonging in this government and I tell you that his pronouncements so far and his body language have increased the confidence of Nigerians in Nigeria and we believe that, given the chance, he will do a lot more and we are praying that the Lord will strengthen his hand, to be able to do more and turn around the fortunes of this country.”

    He added: “We know that there are a lot of challenges, but what we tell our people is that this is just the beginning of this administration and Nigeria is big and what we face now started not just today. It started many years back, and it will take a while to turn around these things. 

    “But the important thing is that there is an intentional step that the President has taken, and is taking to reverse the trend of events, especially in the area of governance. We see it very clearly and we see the effort he is making towards securing this nation. 

    “So, we ask Nigerians who are watching and those people who seem to have lost hope, not to lose hope, but to have patience and persevere,. Though it is night, we know that a new dawn is just in the horizon.”

    Archbishop Okoh however, advised the Presidentc  “to continue on the path that he is now determined to follow. 

    He said:”He is determined to run a government that is for all, a government that is all-inclusive, a government that listens to the people, just like he made a pledge to us that he will continue to listen to us and he has opened the channels for us that anything that we see or any concern that we have, we should always come back to let him know. c

    “So, we believe that now, we have a listening president. And we urge him to continue on that path. And to continue to always look out for those who mean well for this nation, and put them into good use.”

    On the motive behind the visit, Archbishop Okoh said: “The general elections of 2023 have come and gone and by the grace of God, we have a sitting President in the person of His Excellency, President Bola Ahmed Tinubu, GCFR. 

    “So, the leadership of CAN decided to come to pay a courtesy visit to congratulate him on his election and to pledge our support for his administration.”