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Tinubu’s Economic Reforms Receive Thumbs Up Despite Short-Term Pains
The economic reforms implemented by President Bola Ahmed Tinubu have been praised for being on the right track, despite the temporary hardships they have caused.
According to Dr. Opialu Opialu, who spoke at a one-day intellectual discourse on the state of the economy and the Renewed Hope Agenda, the reforms are necessary for Nigeria’s development and will ultimately lead to prosperity.
The event, which was organised by the Beyond Boundaries Legacy Leadership Initiative (BBLLI) in collaboration with the Civic Centre on Economic Reforms, Policies, and Planning, brought together experts and stakeholders to discuss the theme “Between Austerity and Prosperity: Nigeria Yesterday, Today, and Tomorrow.”
Opialu, who assessed the economic reforms of President Tinubu, highlighted the country’s past, present, and future, noting that Nigeria was once a rich nation but became poor due to mismanagement and lack of planning.
However, with President Tinubu’s Renewed Hope Agenda, he said the country is taking bold steps to introduce reforms and recover from its past mistakes.
Opialu said President Tinubu’s administration has implemented several key reforms, including the removal of subsidies on premium motor spirit, exchange rate unification, and a review of the Electricity Act.
These reforms, according to him, have been complemented by public sector reforms, a review of solid mineral policies, and the introduction of a student loan scheme.
While these reforms have caused short-term pains, such as inflation, a reduction in disposable income, and a high cost of living, Opialu noted that the gains will far outweigh the pains in the long run.
Opialu also highlighted the medium-term effects of the policies, which include a reduction in the pump price of premium motor spirit, the introduction of the Presidential Initiative on Compressed Natural Gas, and an increase in foreign reserves.
Additionally, the reforms have attracted over $30 billion in foreign direct investment and have led to improved security and a drastic reduction in the spate of insecurity.
Opialu concluded that the economic reforms of President Tinubu are timely and welcome and that the government should do more to educate Nigerians on the reforms and their effects. This will help to prepare the minds of the masses for the need to make temporary sacrifices for the sake of long-term prosperity.
“The economic reforms of President Bola Ahmed Tinubu are on the right trajectory notwithstanding the temporary hardship,” he said. “It is a price we all have to accept for the Nigeria of our dreams. The most equipped generation to carry this cross is ours and the time to do it is now.
“It is my view that the various reforms are timely and welcome and that the Government should do more through the appropriate agency to educate Nigerians on the reforms, its effects, both the good and the not too palatable ones, so as to prepare the minds of the masses to the need to fast before feasting”.
A Zamfara-based group, Zamfara Concerned Citizens, has called on Governor Dauda Lawal to cease blaming his predecessor, Bello Matawalle, for the state’s challenges and focus on delivering on his 2023 campaign promises.
The group also urged Matawalle, now Nigeria’s Minister of State for Defence, to contest the 2027 governorship election, citing his efforts in tackling insecurity nationwide.
In a statement issued on Wednesday, the group’s publicity secretary, Aliyah Dan-Musa, accused Governor Lawal of failing to address critical issues such as hunger, poverty, and healthcare in Zamfara.
“Dauda has failed the mandate entrusted to him by the good people of Zamfara,” Dan-Musa said.
“Instead of fulfilling his promises, he is looking for someone to blame, and Dr Bello Matawalle is his target.”
The group claimed that Lawal’s administration has run out of ideas and is resorting to scapegoating Matawalle to deflect from its shortcomings.
They further criticised the governor for allegedly squandering state resources on international trips with family and associates, rather than tackling the state’s pressing needs.
Zamfara Concerned Citizens called on residents to reject Lawal in the 2027 governorship election, accusing him of betraying the trust of the electorate.
“The governor has not done anything to address this ugly situation,” Dan-Musa stated, pointing to ongoing economic and social challenges in the state.
The group praised Matawalle’s tenure as governor from 2019 to 2023 and his current role as Minister of State for Defence, where they claim he has made significant strides in reducing insecurity across Nigeria.
“We have seen what he has done in Nigeria by reducing insecurity, and we are happy with what he is doing,” Dan-Musa said.
They urged Matawalle to run for governor in 2027, expressing confidence that his leadership would restore stability and attract investment to Zamfara.
“Zamfara will be much better and safer where civil servants will be smiling again and no more half salary,” the statement read.
The Commander of Operation Safe Haven (OPSH), Maj.-Gen. Folusho Oyinlola, has decried the influx of large number of cattle into Barkin Ladi Local Government Area (LGA) of Plateau State.
Oyinlola, who doubles as the General Officer Commanding (GOC) 3 Division of the Nigerian Army, Rukuba, near Jos, said this on Tuesday during an engagement with stakeholders in Barkin Ladi.
He noted that the influx of the cattle was constituting a major security threat to the locality and the state in general.
According to him, the isolated attacks, farm destruction, and other illegal activities are as a result of the unhealthy development.
“I must express the concerns of security agencies about recent developments in parts of Barkin Ladi.
“There is a growing unease about the influx of large number of cattle into farming communities.
“While the movement of livestock in Barkin Ladi and indeed Pateau in general is not unusual, the scale and timings of this new influx raise legitimate security concerns.
“Unfortunately, this development has already resulted in adverse outcomes, including farm destructions, isolated attacks, and attacks on livestock.
“The impact of this action on food security, economic stability, and social harmony cannot be over emphasised,” he said.
The commander, who also expressed deep concerns over the recent killings in the locality, called on the stakeholders to unite and fashion out ways to end the violence.
He, however, promised to fish out the perpetrators of the heinous crime, who would be made to face the full wrath of the law.
Oyinlola explained that the stakeholders’ engagement was aimed at ensuring a successful and peaceful farming season in the locality.
“The faming season is already ongoing, and for many families, this is a period for securing their livelihood.
“Therefore, any disruption of farming activities now will have dire consequences for the rest of the year and beyond.
“To this end, this engagement is convened to hear from you, all stakeholders, to listen to your concerns,” he said.
The News Agency of Nigeria (NAN), reports that the meeting had in attendance heads of security agencies, government officials, traditional and religious leaders, among others.(NAN)
The Catholic Church’s cardinals issued an urgent appeal for peace on Tuesday, one day before they retreat into the Vatican’s Sistine Chapel to elect a new pope.
In a joint statement, they called on all warring parties worldwide to “achieve a lasting ceasefire as soon as possible.”
The statement, released by the Vatican, said the cardinals note “with regret” that there has been no “progress in promoting peace processes in Ukraine, the Middle East and many other parts of the world.”
On the contrary, they said, attacks have intensified, especially against the civilian population.
The cardinals called for ceasefires “without preconditions and without further delay” in order to negotiate “the peace long desired by the affected populations and the whole world.”
They also appealed to believers, asking them to intensify their prayers for a just and lasting peace.
The statement was delivered during the General Congregation of the College of Cardinals, the last meeting of the cardinals before the start of the conclave.
Starting on Wednesday, eligible cardinals under the age of 80 are to vote to elect a successor to pope Francis, who died on Easter Monday at the age of 88.