MONDAY MORNING REFLECTIONS
TODAY IN NIGERIA, PBAT IS MAKING A HUGE DIFFERENCE.
PBAT is definitely laying a solid foundation for the economic prosperity of Nigeria. No matter what the opinions of the naysayers are, there is no going back. Jagaban told Nigerians in the last presidential media chat that he has no regret for removing the fuel subsidy. He did not even make any pretence about it abinitio. He said it point blank that he would remove it during the electioneering campaigns because it was no longer sustainable. Therefore, it is right to infer at this point in time that Nigerians voted for him on the basis of his promise.
It is therefore appalling to note that there are many people with short memories. They have forgotten where we are coming from so soon. The burden of debt was overwhelming and about to wreck Nigeria at the point when PBAT took over power on May 29, 2023. The country was then at the threshold of going bankrupt. Any country expending 97% of her income either in paying or servicing debt cannot be said to be financially healthy. Such a country is not only sick, but doomed to fail. That was the stark reality of our economy when PBAT took over. And up till date, the previous administration has never denied this fact.
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To say the very obvious, it is Mr President’s far-reaching decisions and actions so far that are gradually changing the narratives. All of those reforms are testimonials to the fact that PBAT really means business. Like street guys would say, “Tinubu o wo ‘ju Uche”. However, the joy of it is that aside the mischievous opposition party members, the ethnic bigots and the wailing wailers, Nigerians are beginning to appreciate the stand of Mr President that No pain, No gain.
Today, and for the first time in this Republic, Nigeria has become an exporter of fuel. Both the private and public Refineries are now competing for the share of the market. The benefit of deregulated market was recorded last week when the forces of demand and supply forced down the pump price of PMS. Though, the differential decrease was marginal, but it was a good beginning. Equally noticeable and remarkable is that for the very first time in the recent past, Nigerians are celebrating the end of year festivities without languishing for fuel.
Today, Nigerian students are benefitting from student loan scheme. The Act stipulates the establishment of the Nigeria Education Loan Fund (NELFUND), an initiative set up by the Federal Government of Nigeria. It is a beacon of hope for Nigerian students pursuing higher education. It is not an audio scheme as students are already enjoying it. To the best of my knowledge, no president, at least since 1999 when Nigeria returned to civil rule has taken such a bold step to ameliorate the financial burden of students in the higher institutions.
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Today in Nigeria, local government autonomy has gotten judicial endorsement courtesy the irrepressible President Bola Ahmed Tinubu. Although, its implementation is being delayed due to constitutional encumbrances. However, those hurdles are being frontally tackled . And coupled with those constitutional impediments is the act of sabotage being perpetrated by those emperors ruling us at the state level.
They have turned the local governments into the appendage of the state government and their allocations into cash cow. They are doing everything possible not to let go of the local government councils. But the federal government is ahead of their plots, and very soon, a full blown autonomy will become the portion of the local government councils in Nigeria.
Today in Nigeria, jumbo allocations go to the three tiers of governments. No State governor can deny that allocations to his State in the past one year are not much more substantial than what it used to be in the past. The implication of this is that if your State is not doing well, hold your governor accountable. And if there is ineptitude in your local government council, confront your local government chairman.
Today in Nigeria, the war against banditry and terrorism is being won by the military. In this year 2024 alone, hundreds of top-shot bandits and terrorists have been neutralized. Without having any military training, PBAT has demonstrated that he is a fantastic Commander-In-Chief of the Armed Forces. Indeed, he is a General without military background. Even those former helmsmen that were known to be war veterans could hardly sting while presiding over the affairs of this country as civilian presidents.
Today in Nigeria, the Niger-Delta Development Commission has been replicated in virtually all the geo-political zones in Nigeria. This is another feat accomplished by PBAT. The development of Nigeria under the watch of President Tinubu now takes a bottom-top approach. The local governments, the State governments, the Regional development Commissions and the federal government are now responsible for Nigeria infrastructural transformation. This is a subtle way of devolving power to the regions, and it is a good start.
Today in Nigeria, power generation is in the neighborhood of 6,000 Megawatts. At the inception of PBAT’s administration in 2023, it was about 3,000 Megawatts. Big kudos to the President and his dutiful Minister of Power, Oloye Adebayo Adelabu for winning where others have failed. I remember the Minister saying at one of his media chats in Ibadan early this year, that the problem with the power sector is administrative and not technical.
It only takes a seasoned administrator the courage and commitment to get the job done. And that is exactly the secret behind the magic wands that Oloye Adebayo Adelabu is employing to make a huge difference today in the power sector. However, it is still not yet Uhuru as the ambition of PBAT’s administration is to hit above 10,000 Megawatts on or before 2026. This is possible!
Today in Nigeria, PBAT has defeated both the Forex and fuel cabals. They held the country’s economy by the jugular feeding fat where they did not sow. Today, no hoarding of fuel, no artificial scarcity and no arbitrary hike in fuel prices. In the same vein, the foreign exchange market has been liberalized, and relatively stable. The naira has now assumed its natural value. Those involved in illicit trading of dollars, and their counterpart in the fuel business are now licking their wounds. Little wonders the number of enemies being attracted to PBAT in particular and his government in general. The undesirable elements are actually fighting back.
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Finally, if not that I am limited by time and space, there are much more points to add to PBAT’s achievements in just 18 months. When the President said, “E lo fokanbale”, he meant every bit of his words. Therefore, Nigeria can only become better as we enter the year 2025 in less than forty-eight hours.
Happy New Year in Advance. Wishing you a prosperous New Year.
B. Aderemi Ogundele
JagunmoluBAO
December 30, 2024
