Review of President Tinubu’s inaugural speech

 

For many years, Nigeria’s critics have trafficked the rumour that our nation will break apart, even perish. Yet here we are. We have stumbled at times, but our resilience and diversity have kept us going. Our burdens may make us bend at times, but they shall never break us. Instead, we stand forth as Africa’s most populous nation and as the best hope and strongest champion of the Black Race. As citizens, we declare as one unified people devoted to one unified national cause, that as long as this world exists, Nigeria shall exist.– 16th President of Nigeria, Bola Tinubu, during his inaugural address.

After the rigours of party nomination, campaign and a fierce electoral contest on February 25, 2023, Asiwaju Bola Tinubu, the Jagaban of Borgu, was inaugurated as the 16th president of Nigeria with pomp and circumstance on May 29, 2023, in Abuja. He was sworn in by the Chief Justice of Nigeria, Justice Olukayode Ariwoola at the Eagle Square at a colourful ceremony which had in attendance presidents and Heads of State of many countries, members of the diplomatic corps and many important personalities. What a relief! The forces that did not want the inauguration to hold were many. They are both spiritual and physical. There are those who went to court to stop the inauguration while there are also several fake prophecies that he will not reign over Nigeria. All came to nought.

It was not only President Tinubu that was inaugurated on Monday, 28 other governors both new and re-elected ones, were also sworn in by their respective state Chief Judges. This is the seventh inauguration in this Fourth Republic. Governance has started in earnest and appointments are already being made at both federal and state levels.

President Tinubu’s inaugural speech is dominating media discourse and I have been part of it all. I have granted interviews to both national and international print and broadcast media outlets on my expectations of the new government. Among media channels that have interviewed me on this are Channels Television, Blueprint newspaper, Law FM 103.9, Lagos, Federal Radio Corporation of Nigeria, Nigerian Television Authority, Nigerian Info 95.1 FM, Abuja, South Africa Broadcasting Corporation, Voice of America and Asaase Radio, Ghana.

President Tinubu’s speech has a number of soundbites. I crave your indulgence to share a few. They are: “Our administration shall govern on your behalf but never rule over you. We shall consult and dialogue but never dictate. We shall reach out to all but never put down a single person for holding views contrary to our own.

“Whether from the winding creeks of the Niger Delta, the vastness of the northern savannah, the boardrooms of Lagos, the bustling capital of Abuja, or the busy markets of Onitsha, you are all my people. As your president, I shall serve with prejudice toward none but compassion and amity towards all.”

Aside from the soundbites, the new president also outlines his administration’s road map. According to him, the principles that will guide his administration include: Nigeria will be impartially governed according to the constitution and the rule of law; defence of the nation from terror and all forms of criminality that threaten the peace and stability of the country and the sub region; Remodelling of the country’s economy to bring about growth and development through job creation, food security and an end to extreme poverty. He also promised that his administration would feature women and youth prominently. He equally promised that his government would continue to take proactive steps such as championing a credit culture to discourage corruption while strengthening the effectiveness and efficiency of the various anti-corruption agencies.

Tinubu said he shall invest more in Nigeria’s security personnel, and this means more than an increase in number. He pledged the provision of better training, equipment, pay and firepower.

On the economy, the Number 1 citizen said he targets a higher GDP growth (Six per cent) and will significantly reduce unemployment. He said inter alia that electricity would become more accessible and affordable to businesses and homes alike. Power generation should nearly double and transmission and distribution networks improved. He promised to encourage states to develop local sources as well.

He pledged that his government shall review all the complaints of local and foreign investors about multiple taxations and various anti-investment inhibitions. Investors and foreign businesses are also to be allowed to repatriate their hard-earned dividends and profits home. He also promised to honour his campaign commitment of one million new jobs in the digital economy. He likewise said his government shall work with the National Assembly to fashion an omnibus Jobs and Prosperity bill.

In the area of agriculture, he said, “Rural incomes shall be secured by commodity exchange boards guaranteeing minimal prices for certain crops and animal products. A nationwide programme for storage and other facilities to reduce spoilage and waste will be undertaken.” Furthermore, “Agricultural hubs will be created throughout the nation to increase production and engage in value-added processing. The livestock sector will be introduced to the best modern practices and steps taken to minimise the perennial conflict over land and water resources in this sector.”

Tinubu promised to expand Nigeria’s infrastructure, stop further petroleum subsidy beyond June 2023 and asked the Central Bank of Nigeria to work towards a unified exchange rate. He asked financial institutions to reduce their interest rate and promised to review the CBN’s naira redesign policy.

The removal of fuel subsidy has been generating a lot of furore since it was formally announced and there are already long fuel queues in many major cities across the country. Yet, it is quite necessary to do away with the fraudulent and corruption-ridden subsidy regime at this point in time so that monies can be saved up to fund the plethora of abandoned projects littered across the country. Luckily, the Dangote refinery has been inaugurated and should start production by August 2023. If the turnaround maintenance being carried out on Port Harcourt, Warri and Kaduna refineries are completed as well as the three modular refineries being built in the Niger Delta region, that should force down the price of the petrol even if it soars initially.

The big elephant Tinubu hasn’t addressed is how to stop the lingering pipeline vandalism and industrial-scale oil theft that is daily robbing the country of millions of dollars in revenue. How does the Jagaban intend to tame the monster? How does the president intend to halt the revenue leakages that have persisted over the years in our revenue-generating Ministries Department and Agencies? Research has shown that trillions of naira are not remitted by these revenue-generating MDAs into federation accounts. This impunity has to stop. Tinubu was also vague about how he intends to tackle corruption which has been a cankerworm eating off this country. Further details on this are awaited.

It is still unclear where the president stands on the issue of reduction in the cost of governance and restructuring. I am of the considered view that as a progressive, he needs to cut down considerably wastage in government. The huge budgetary allocations to welfare and entertainment should be removed or reduced considerably. He should not copy ex-president Buhari who presided over a 43-member cabinet in his second term in office. Section 147 (3) of the 1999 Constitution, as amended, should be reviewed to ensure that we do not have more than 15 ministers. Let his government work towards scrapping the Senate or reducing the number of senators, House of Representatives and state Houses of Assembly members by one-third. Implementation of the Oronsaye report on mergers and acquisitions of MDAs is now highly desirable. Lastly, issues of state police and community policing need to be revisited.