The Error In Tinubu’s Genuine Efforts To Re Engineer Nigeria’s Economy—Oladipo Oluwole

The Error

OpenLife Nigeria reports that in yet another review of the economic outlook of Nigeria, Oladipo Oluwole, Public affairs analyst and social commentator, says President Bola Tinubu is making genuine efforts to revamp the country’s economy.

The former Education Director in Ogun State Civil Service, however, points out errors in the implementation of some policies.

Oladipo Oluwole explains that “Sincerely, there have been more funds to the three tiers of government.”

But, he noted further that the mistake the present government made was that the President should have first increased workers’ salaries instead of buying expensive legislative cars, executive jets, Cadillac car, VP housing renovation etc.

His thoughts are reproduced below

No government or leader assumes office, with the intention to fail.

Policy somersault could, therefore, come in different forms which President Tinubu’s administration is not immune from.

People often mention corruption as the bane of our socioeconomic, and political woes, but self-interests of the leaders sometimes cut short their good intentions.

For instance, 2006 Constitutional review recommendations could not be implemented, because of former President Olusegun Obasanjo’s alleged third term agenda.

His Excellency, Goodluck Ebele Jonathan used the CONFAB 2014 as a bait for his failed 2015 reelection bid, including lack of political will.

In essence, no government has ever failed totally, likewise President Tinubu’s administration that is operating within its own capacity, capability and political space.

Sincerely, there have been more funds to the three tiers of government, but the mistake the present government made was that, instead of first taking care of themselves- like billions of naira for the legislative cars, the executive jet, Cadillac car, VP housing renovation, and the judges salaries, workers salaries should have, first, been immediately increased, and promptly paid.

The present State Governors, would, therefore, not have gotten too much money to play with, while the local economy would have been boosted tremendously, throughout the country, with the seamless buying and selling of goods, foodstuffs, and services that would be going on, in the local markets.

Secondly, a single worker has two or three dependants to take care of, while the married one, apart from the nucleus family, equally has extended family members to take care of.

In essence, a prompt payment of increased workers salaries would have, definitely, spread the liquidity, (cash), among the local people, thereby, reducing the level of poverty, hunger, “EBI NPAMI, and EBI NPAWA” syndromes.

Workers, equally, form the bulk of the middle class, which often stabilizes the country’s economy, with their robust socioeconomic interaction, intervention, and services, in support of the lower class of the people, within the community.

But, it is very disheartening that, for over a year now, Nigerian workers, at all levels, are still receiving the same old salaries, in the midst of “subsidy is gone”, bitting inflation, extraneous taxes, hunger and poverty.

On agriculture, the federal government does not need 10million Hectares of farmland, in a true, and thriving federal system- the states and local governments are nearer to the people, have access to land, and could be more vigorously involved in farming activities than the federal government.

On students loan- why should the federal government be setting aside #50billion as loan, for such a chunk of student population, in a situation where #90billion was released to subsidize a single 2023 hajj ?

Comparatively, therefore, disbursing #10billion, as students loan, till date, is quite an ODD one out, only for the minority or few, but, in order to make it EVEN, for the majority, the federal government should restore education subsidy, in the federal tertiary institutions, for the brilliant children of the poor, that are, hitherto, the major beneficiaries.

The assertion, by the federal government, of reduction in debt servicing, and drop in inflation, with the increase in oil production, federal revenue, foreign reserves, and exporting diesel, petrol, aviation fuel, including local supplies by Dangote Refinery, will, definitely, be meaningfully impactful, if the life, and condition, of an ordinary Nigerian citizen could be greatly improved upon.

Finally, the federal government has tried, by its tremendous efforts on security, with room for an improvement, like every other past government, except Buhari’s administration.

 

Oladipo Oluwole, a  public affairs analyst/Social commentator. and former Information- Education Director in  Ogun State Local Government Service Commission can be reached via: oladipooluwole21@gmail.com 08033598528.