President Bola Tinubu’s administration on Wednesday clocked one year in office, having secured 37 percent of the votes to win the 2023 presidential election that brought him into power.
As promised, Tinubu hit the ground running by declaring an end to fuel subsidy payments, a move that sent shockwaves through the nation.
In the days that followed, the President floated the naira, allowing it to find its true value against other currencies. These decisions, coupled with a few others, sparked a series of consequences that have triggered debates about the President’s performance in one year.
Although the immediate removal of fuel subsidy was considered a bad decision by some, the President quickly argued that it was a tough decision that had to be taken in the country’s best interest. “We cannot continue to subsidize the lifestyles of the wealthy at the expense of the poor,” Tinubu stated in a national broadcast. “This was a necessary step towards economic sustainability.”
This hike triggered the highest inflation in over two decades, but the President asked Nigerians to be patient, noting that in a short while, they will begin to reap the dividends of the administration’s actions. “The path to prosperity is often paved with sacrifices,” Tinubu said in a public address.
The President also promised an overhaul of the security structure and the establishment of a student loan fund. However, one year after, Nigerians seem to be losing patience as the hardest parts of Tinubu’s reforms bite harder.
“It’s been a year of empty promises,” lamented Chika Okoye, a trader at Balogun Market. “We were told to tighten our belts for a little while, but the hardship keeps getting worse.”
“The government needs to provide more relief for the masses. We can’t continue like this,” Okoye added.
A civil servant in Lagos who simply gave his name as Ade said; “He made too many promises but see what removal of fuel subsidy has cost us. Fuel sells at N680 naira and I can barely take my car out more than once a week.”
Having been handed a four-year term, others believe the President has done well, especially in the area of infrastructure, and think he deserves more time to deliver on other promises.
“Rome wasn’t built in a day,” said Kunle Ajayi, a businessman. “Tinubu has made significant strides in improving our road networks and power supply. We should give him a chance to fulfill his agenda.”
A commercial driver, Segun equally praised the President for the rehabilitation of the third mainland bridge.
Through what is considered a stormy season and deferred hope instead of the promised “renewed hope,” President Tinubu continues to assure Nigerians that a prosperous Nigeria is assured, and that he has the mettle to deliver that within his first term.
Only time will tell if his administration can weather the storm and steer the nation towards the promised land of economic prosperity.
