Opinion
By Steve Osuji
NO RESPITE FROM SUBSIDY PAIN: Three weeks of Tinubu’s administration and the unconscionable immiserstion of Nigerians has continued unabated. The hurried and thoughtless yanking of the so-called fuel subsidy has continued to heap pain and misery on the less privileged Nigerians. The unplanned and unmededitated-upon action is rapidly pushing millions of Nigerians into crushing poverty. Three weeks after, not a single action has been taken to mitigate this cruelty against the masses. As we mentioned here last week, not even a team has been empanelled to discuss the issues.
NAIRA FLOATS, SINKS: As if he relishes punishing the Nigerian hoi-polloi, President Tinubu dug in last week by floating the exchange rate. The naira of course, came crashing against the dollar. The naira has been cut loose to float on its market strength. This is to create a semblance of market forces being at play. Like subsidy removal, this is what the Bretton Woods/IMF group always recommended and harried Nigeria’s government about. While it is better than multiple rates regime, it requires a proper and rigorous implementation process not merely an announcement by fiat. Such far-reaching economic policies as this necessarily requires the input of a solid economic adviser, a sound CBN governor and a sitting Minister of Finance. These people would help tinker with the policy and have it nuanced to the best interests of Nigeria. But simply announcing without the commensurate work bodes trouble for sure.
SIGNING THE STUDENTS LOAN BILL: Yet another law, a third, has been enacted by the President. It’s the students’ loan law. It would afford indigents students tuition loan to be paid back after graduation. This suggests that university education would be de-subsidised and again, market forces would rule tertiary education funding. While the idea looks attractive, it not seductive, it require careful thought processes and even more careful implementation. For now, this is mere political gamemanship. As announced, it is sure to harm Nigerians more than do them good.
APPOINTMENT OF MORE SPECIAL ADVISERS: President Tinubu appointed more special adviser in the third week, apparently building his kitchen cabinet. Dele Alake’s communications position is further fortified with Special Duties, making him perhaps the most influential member of the new cabinet, along with Femi Gbajabiamila, the Speaker who is now Chief of Staff to the President. There’s also Wale Edun, a financial whiz and another long time ally of Tinubu. Edun had always been Tinubu’s finance and business brain box. He is Adviser in charge of Finance. Like CBN’S Emefiele, the Chairman of the Economic and Financial Crimes Commission (EFCC) Abdurrahman Bawa was suspended on account of certain unspecified malfeasance. While the action is hailed in many quarters, it remains superficial as no far-reaching change has been wrung, but mere a shifting of musical chairs. It’s cosmetic; motion without movement situation.
INAUGURATION OF 10TH NASS: Nobody expected President Tinubu to show any exemplary democratic ethos here. He is a control freak who would never allow the National Assembly to play its role of a watchdog of the Executive Branch. The emergence of his choice of principal officers of the NASS has ab initio rubbed the 10th assembly of it soul, rendering it a rubber stamp from day one. Let’s conclude that it’s not in the character of Tinubu to allow free and fair democracy to flourish. Therefore, the leadership of the 10th NASS is made up of a predictable and uninspiring members of the old order. We shall expect no sparks to fly nor a light to shine while this government lasts. However, what Nigerians expect quickly is that the list of cabinet appointees be send to the Senate immediately so that government is properly formed and the serious work of governance can start. Will the president go beyond the old order? Will he look beyond the party wonks and seek out people of integrity and competence to lead the change Nigeria seeks?
OFF TO PARIS?: Finally, the buzz is loud that our president has sneaked out to France, for a ‘recharge’. This of course seems ordained to be Nigeria’s lot and nemesis. Since after the February 25th presidential election, Tinubu has three times, stealthily visited Paris reportedly for the treatment of an undisclosed ailment. Like the Muhammadu Buhari example, Tinubu doesn’t think he owes Nigerians any explanation as to the status of his health or the cost of enjoying such bespoke medical treatment in the best facilities of the Western world. This is unsustainable and unacceptable.
LAST LINE: While the president’s propagandists are in a state of euphoria hyping what are at best routine and mundane activities of the president, Nigerians continue to groan under the weight of acute poverty… with no hope of any palliative or succour. If nothing is done quickly, It’s only a matter of time before the dam breaks.
A.
Tags: Steve Osuji
