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Why Tinubu’s One Year Rule Hasn’t Produced Fruits — Atiku

Published

2 years ago

May 28, 2024

The presidential candidate of the Peoples Democratic Party (PDP), in the 2023 general elections, Atiku Abubakar, has said President Ahmed Tinubu’s one year rule hasn’t produced tangible results because he unleashed reforms without an implementation plan.

Atiku said this in an article he made public on Tuesday.

He recalled that “On May 29, 2023, President Bola Tinubu raised the hopes of Nigerians with his pledge to ‘remodel our economy to bring about growth and development through job creation, food security and an end of extreme poverty.”

He explained that since making this pronouncement, Tinubu has also spoken about growing the economy at double-digit rates to US$1 trillion in six years, ending misery, and bringing immediate relief to Nigeria’s cost-of-living crisis.

According to the former Vice President noted that on listening to this, Nigerians must have breathed a sigh of relief after their experience with ex-President Buhari’s 8 years of economic misadventure.

He, however, said, “Tinubu laid out no plans for the ‘remodeling’ of the economy but soon embarked on a cocktail of policies to achieve it.

“In May 2023, he eliminated PMS subsidies, and a month later, the CBN implemented a new foreign exchange policy that unified the multiple official FX windows into a single official market.

“More policies followed in rapid succession: the tightening of monetary policy to reduce Naira liquidity, a hike in monetary policy rates, the introduction of cost-reflective electricity tariff, and a cybersecurity tax.

“Predictably, 12 months on, Tinubu’s pledge of growing the economy and ending misery remains unfulfilled.

“His actions or inactions have significantly worsened Nigeria’s macroeconomic stability. Nigeria remains a struggling economy and is more fragile today than it was a year ago.

“Indeed, all the economic ills – joblessness, poverty, and misery – which defined the Buhari-led administration have only exacerbated.

“Africa’s leading economy has slipped to the 4th position lagging behind Algeria, Egypt, and South Africa. Citizens’ hopes have been dashed (and not renewed contrary to the propaganda of the administration) as Nigeria’s economic woes have multiplied.”

Giving an analysis of how he thinks Nigeria got to this sorry state, Atiku said, “In my press statement on the state of our economy, earlier this year, I expressed my concerns about the downside risks of unleashing reforms without sequencing;

“…without any ideas on how to implement them; and without any regards to their potential and real devastating consequences. Implementing policies without proper planning and a clear destination is nothing other than trial-and-error economics.

“My concerns have not diminished. I will focus on just four areas to underscore those downside risks associated with Tinubu’s reform measures and their dire consequences on Nigeria’s medium to long-term growth and development.

“First, President Tinubu’s policies do not create prosperity. Instead, they pauperize the poor and bankrupt the rich.

“They spare no one. Nigerian citizens, the majority of whom are poor, are going through the worst cost-of-living crisis since the infamous structural adjustment programme of the 1980s.

“The annual inflation rate at 33.69% is the highest in nearly 3 decades. Food prices are unbearably higher than what ordinary citizens can afford as food inflation soared to 40.53% in April, the highest in more than 15 years.”

He further said, “Nigerian citizens have to pay 114% more for a bag of rice, 107% more for a bag of flour, and 150% more in transport fares relative to May 2023. Today, in some locations, motorists are paying 305% more for a litre of fuel.

“Yet, on a minimum wage of the equivalent of US$23 per month, Nigerian workers are among the lowest wage earners in the world. Tinubu had the ‘courage’ to remove subsidy on PMS;

“…and impose additional taxes on his people but lacks the compassion to raise the minimum wage or implement a social investment programme that would reduce the levels of vulnerability, and deprivation of workers and their families.

“Second, President Tinubu’s policies create a hostile environment for businesses, big or small. The private sector is overwhelmed by Tinubu’s dismal policies and overburdened by his failure to address the policy fallouts.

“The manufacturing sector, which holds the key to higher incomes, jobs, and economic growth, has been bogged down by rising input prices, higher energy and borrowing costs, and exchange rate complexities.

“For example, since 2023, the average price of diesel has doubled to N1,600 per litre. Electricity tariff has recently been increased by 250% from N68/Kwh to N206/Kwh.

“As reported by the Guardian (13 May 2024), in Q1 of 2024, energy prices were up by 70%, costing manufacturers N290 billion.

“Since May 2023, corporate Nigeria has lost more than a dozen enterprises to other countries. Unilever, GlaxoSmithKline (GSK), Procter & Gamble (P&G), Sanofi-Aventi Nigeria, Bolt Food, Equinor, among others had exited Nigeria citing reasons including foreign exchange complexities, security concerns, and high operational costs.

“According to the Nigeria Employers’ Consultative Association (NECA), nearly 20,000 jobs may have been lost due to the departure of 15 multinational companies from Nigeria.

“Those enterprises that remain are struggling to survive. Vanguard Newspaper (20 May, 2024) reported a significant rise – to nearly 30% – in unsold goods in the warehouses of manufacturers of fast-moving consumer goods, occasioned by the rising cost of living and declining purchasing power of the citizens.

“According to the Guardian, manufacturers reported in Q1 a 10% drop in capacity utilization, a 10% drop in production, a 5% drop in investment, and more than 7% drop in sales.

“The Daily Trust (1 May, 2024) quoted Dangote lamenting that nearly 97% of manufacturing concerns in Nigeria will be unable to pay dividends this year.

“In an economy with high rates of unemployment, a declining manufacturing sector cannot be an option.

“Third, President Tinubu’s foreign exchange policies have not had any positive impact on Nigeria’s foreign trade balance, contrary to policy expectations.

“In particular, the free-float and the resulting devaluation of the Naira has not resulted in an appreciable improvement in Nigeria’s trade balance.

“Devaluation has not enhanced the competitiveness of local producers and has had no positive impact on exports of goods, primary or manufactured. In Q4 of 2023, for example, while imports surged 163.1%, exports rose at a slower 99.6%, indicating a huge foreign trade deficit.

“Similarly, in Q1 of 2024, Nigeria recorded a trade deficit of $7.5 billion, with exports value of $12.7 billion and import value of US$14 billion. Overall, the trade deficit as a percentage of GDP increased by 0.83% from 0.05% in May 2023 to 0.88% in May 2024.

“Fourth, President Tinubu’s policies have failed to attract foreign investments into the country despite all the posturing and media hype by the President’s men.

“Exchange rate unification and free float of the Naira have not led to higher capital inflows (whether Foreign Direct Investment or Foreign Portfolio Investments), again contrary to policy expectations.

“ Indeed, FDI inflows declined by 26.8%, from US5.33 billion in May 2023 to US$3.9 billion in May 2024. It is not difficult to understand why: FDI is about TRUST.

“It is about the investing world trusting the leadership of a country to act and deliver on promises made. Investors come when the right policies are designed and delivered timely and efficiently by public institutions.”

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OPINION: Gumi And His Terrorists

Published

5 hours ago

December 23, 2025

Editor

(more…)

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OPINION: Christmas And A Motherless Child

Published

6 hours ago

December 22, 2025

Editor

By Lasisi Olagunju

If we were Christian in my family, Christmas would have been for us a mixture of joy, mourning and remembrance. But still, it is. When others celebrate Christmas, I mourn my mother. We call it celebration of life; it is a forever act that undie the dead. She died just before dawn on December 24, 2005. But she lived long enough such that even I, her second to the last child, enjoyed her nurture for over forty years. She died happy and fulfilled. She was extremely lucky; she even knew when to die.

A mother’s death strips her child naked. With a mother’s exit, the moon pauses its movement of hope; morning stops arriving with its proper voice. For me, since it happened 20 years ago, dawn still breaks as forever, but nothing raps my door to announce a new day and the time for prayers; no mother again chants my oríkì. No one, again, softly drops ‘Atanda’ by my door before sunrise. Nothing sounds the way it used to. No one again wets the ground for the child before the sun fully unfurls its rays.

History and literature, from Rousseau’s idealisation of the “good mother” to Darwin’s notion of “innate maternal instincts,” framed motherhood narrowly; yet she inhabited it fully. She bore and reared in very inclement weather; she thought and questioned, endured and, quietly, shaped lives in her care beyond the ordinary. She was a princess who knew she was a princess. Like Frances Hodgson Burnett’s princess in ‘A Little Princess’, her voice – outer and inner – shouted an insistence that “whatever comes cannot alter one thing.” Even if she wasn’t a princess in costume, she was forever “a princess inside.” The princesshood in her inheritance ensures that her father’s one vote trumps and upturns the 16 votes cast by multi-colour butterflies who thought themselves bird.

Sometimes quiet, sometimes shrill, she showed in herself that the true measure of a woman lies in the fullness of her humanity, the strength of her mind and character, and the depth of her influence. She embodied all these with grace until her final breath.

Geography teaches us that harmattan is dry, cold, hash, unfriendly wind. The harmattan haze of Christmas is metaphor for the blur the child who misses their mother feel. It hurts. The day breaks daily with silence performing the duty the mother once did. What this child feels is hurting silence where her song caressed. In the harshness of the hush, the child remembers how mornings were once gold, how a day felt owned simply because she announced it. Without her, time still moves, but it no longer rises to meet the child with its promise of warmth.

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When a mother dies, her child’s gold goes to rust and dust. Because a mother is the cusp that scoops to fill her child’s potholes, in her death something essential goes missing. And it is final. Everything that was a given is no longer to be taken for granted; nothing is henceforth granted; everything now makes bold demands, even illness speaks a new language. Fever comes creepy and no one reads the child’s body before they speak. Across the wall at night, other women sing their children to sleep, the tune that reaches the motherless is far from the familiar; it is unfaithful.

A child without a mother is what I liken to walking helplessly in a windy rain. No umbrella, whatever its reach and promise, is useful. Again, living is war. When wronged, or terrified by life, the child who has no mother discovers how far they can walk without refuge; they daily face bombs without bunkers.

For the one without a mother, each victory, each success; each survival; every loss, every defeat, asks for a sharer and a witness who is no longer seated where she used to.

Winning can be very tasteless. It is a very bad irony. The muse says that when a child is motherless, joy, when it appears, arrives incomplete; good news, when it comes, comes and pauses at the lips – in search of mother, the one person it is meant for.

Motherhood and its echo teach that a mother’s loss, like a father’s, is erasure, loss, negation, unpresence. It is permanence of loss of love and security.

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The child remembers that in their mum’s lines were elegant, restrained refinements that moved from the gently lyrical to the aphoristic. But they are no more. The old sure shoulder to lean on has slipped away, thinning into memory.

The orphan learns early that those who say, “I will be your mother,” are not always mothers, and those who say, “I will be your father,” are rarely fathers. For the orphan, it is a cold, cold-blooded world.

And yet, the child soon finds out that the mother’s exit has not emptied the world; it has simply rearranged its content.

In the new arrangement, the mum becomes a mere memory kept going in inherited habits, in routine and practice, in the instinct to call a name they know will not answer – again.

“Each new morn…new orphans cry new sorrows…” says Shakespeare in Macbeth. Every forlorn child fiddles with the void. But the muse insists that children that are counted fortunate do not simply outgrow their mother; they outlive her absence and grow new muscles and new bones; they learn slowly to carry and endure what cannot be put down.

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FG Declares Public Holidays For Christmas, New Year Celebrations

Published

6 hours ago

December 22, 2025

Editor

The Federal Government has declared December 25, 26 and January 1, 2026, as public holidays.

Announcing this on behalf of the Minister of Interior, Olubunmi Tunji-Ojo, the ministry’s Permanent Secretary, Magdalene Ajani, said the holidays are to mark Christmas, Boxing Day and the New Year celebrations respectively.

Tunji-Ojo called on Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.

The minister also urged citizens, irrespective of faith or ethnicity, to use the festive period to pray for peace, security and national progress.

According to him, Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.

See the full statement below:

PRESS STATEMENT

FG DECLARES DECEMBER 25, 26, 2025 AND JANUARY 1, 2026 PUBLIC HOLIDAYS TO MARK CHRISTMAS, BOXING DAY AND NEW YEAR CELEBRATIONS

The Federal Government has declared Thursday, 25th December 2025; Friday, 26th December 2025; and Thursday, 1st January 2026 as public holidays to mark the Christmas, Boxing Day and New Year celebrations respectively.

The Minister of Interior, Dr. Olubunmi Tunji-Ojo, who made the declaration on behalf of the Federal Government, extended warm Christmas and New Year felicitations to Christians in Nigeria and across the world, as well as to all Nigerians as they celebrate the end of the year and the beginning of a new one.

Dr. Tunji-Ojo urged Christians to reflect on the virtues of love, peace, humility, and sacrifice as exemplified by the birth of Jesus Christ, noting that these values are critical to promoting unity, tolerance, and harmony in the nation.

The Minister further called on Nigerians, irrespective of religious or ethnic affiliation, to use the festive season to pray for the peace, security, and continued progress of the country, while supporting the Federal Government’s efforts towards national development and cohesion.

“The Christmas season and the New Year present an opportunity for Nigerians to strengthen the bonds of unity, show compassion to one another, and renew our collective commitment to nation-building,” the Minister stated.

Dr. Olubunmi Tunji-Ojo also enjoined citizens to remain law-abiding, security conscious, and moderate in their celebrations, while cooperating with security agencies to ensure a peaceful and safe festive period.

The Minister wishes all Nigerians a Merry Christmas and a prosperous New Year.

SIGNED

Dr. Magdalene Ajani

Permanent Secretary

Ministry of Interior

December 22, 2025.