President Bola Tinubu
Tinubu’s Hundred Days In Office: A Peep At The Centre
Today marks the first 100 days of the administration of President Bola Ahmed Tinubu, who took the oath of office on May 29th this year.
To many, the President came at a time when almost all economic indicators were declining.
For instance, the National Bureau of Statistics as at May this year, reported an inflation rate of 22.4 percent. The Debt Management office DMO put the nation’s foreign and domestic loans at 77 trillion and Debt to GDP ratio at 37.1 percent. Unemployment rate was put at 33.3 percent. The NBS had also in November 2022 released a result of a national measure of poverty where it stated that 63 percent of persons living within the Nigerian borders are multidimensionally poor.
What this means is that 133 million people across the country are deprived along three dimensions Viz monetary poverty, education, and basic infrastructure services
According to analysts, the government equally inherited a weak production base as both small- and large-scale businesses were underperforming, while those that manage to survive were groaning under stifling taxes
In the area of security, President Tinubu inherited the problem of terrorism, banditry and kidnapping all of which have tasked the nation’s security forces to exhaustion even though it still keeps the nation safe at a great expense.
The activities of the evil groups of Boko Haram, Armed Bandits, IPOB, Kidnappers have continued to impede not only the socio-economic activities of the nation, but also its agricultural headway.
Understanding the challenges facing the country, the government of President Bola Tinubu identified tough but necessary steps to be taken if the country is to return to the path of progress and prosperity.
It immediately started with fuel subsidy removal which was a regime used by a small group of powerful persons to rip the country of huge foreign exchange earnings.
According to government statement, so far, the subsidy removal has generated over 2.5 trillion naira in less than five months.
This has increased revenue to run government programmes and policies which until now were serviced through loans and borrowings.
Other areas Nigerians have also commended the government was in its effort to address poverty and hardship caused by subsidy removal, as President Tinubu has released palliatives worth 185 billion naira for distribution to the needy.
The president also constituted a committee for upward review of the national minimum wage for civil servants and encouraged the private sector to also look at the wage raise.
Other areas include, the immediate establishment of an Infrastructure Support Fund for the 36 States of the Federation, funding of MSME with single digit interest rates loans and immediately begin implementation energy transition plan from fossil fuels vehicles to Compressed Natural Gas.
Having done all these, there is still widespread poverty, hardship and other issues that need urgent and decisive action.
For instance, the palliatives to cushion the hardship among Nigerian is only but a drop in the ocean considering the number of people in dire need of help.
To fix this, government must release more palliative materials and strengthen mechanism to ensure that these reliefmaterials get to those that really need them.
Government should be more decisive and swifter in its efforts to give the country an efficient affordable transport system that will ease the movement of gods and services among Nigerians.
Not only this, Government should also be swift in coming up with a national and efficiently managed database that will help it to plan and direct interventions and development programmes and activities to the areas that need them most.
Although, many agree that the government is taking the right measure to fix the country and improve its fortunes, like any surgical process, the doctor must first administer drugs to prevent pains that might have terrible effect after the surgical process, the same way, Nigerians will like to be well and alive to enjoy the fruits of these reforms.
Ireporteronline.com.ng
