Debating President Asiwaju Bola Tinubu's National Broadcast: And Why I am Sharing it.

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In social, print, or broadcast media, every writer or commentator has his or her audience or fans. If you don't know yours, define it, know it. I know my audience, and my passion is writing what leaders read. That's my goal.

If I can't use my writing to influence leadership decisions or if my policy statement is not capable of persuading them to act a certain way, then, the exercise (writing) won't be worth my while. Indeed, I am emotionally tuned into my writing, wholeheartedly in pursuit of noble goals, and not the least motivated by or interested in showcasing semantics prowess.

I've done that since the mid-80s when I wrote an Op-Ed about an Italian ship that dumped toxic waste on the coast of Koko village near the city of Warri in the Niger Delta. The essay, published by the Daily Times and the Nigerian Observer newspapers, prompted the military government into action.

I first saw the story of a ship loaded with deadly contents, roaming the high sea for vulnerable harbors to deposit them in Time magazine and another foreign periodical a few months earlier. And I didn't expect the victim of the toxic waste to be a Nigerian coastal town. So, when it was later reported by foreign newspapers that the troubled laden Italian ship did dump its toxic contents on the sleeping coastal town of Koko in Nigeria, I was aghast. Why us?

Reading the story, I was infuriated and directed my fury at the personnel of Nigerian foreign missions in Europe for failing to put the home government on alert. If I, a young man, a private citizen, without a university education at the time, could follow the news of the deadly voyage in the high sea, how come our foreign missions in Europe, paid to represent our interests, couldn't do more? I queried over and over again, not talking to anyone in particular.

In a fit of anger, I wrote about 700 words essay, titled "Toxic Waste Terrorism," and mailed a copy to the Daily Times office in Lagos. I took a taxi to the office of the Nigerian Observer newspaper on Airport Road Benin City and dropped the second copy at the office of the Feature Editor. Three days later, it was published as an Op-Ed. And a week later, the Daily Times published its own, also as an Op-Ed.

I was just a little, tiny guy with a heavy afro at the time, working with a firm of Auditors and Chartered Accountants in Benin City. And I had money to buy newspapers or any foreign magazine that I wanted. So, I had better knowledge of the ship and its deadly contents and how long it had traversed the high sea than most other Nigerians at the time. And that was my first Op-Ed. However, it was to be my last.

A few days after its publication, my elder sister and her husband, a Police Officer who also saw the Op-Ed Piece in Daily Times, drove all the way from Port Harcourt to Benin City to forbid me never to write again until I get admission and complete my LL.B. A tall order, and I complied.

However, in December 2011, in the comfort of my own home in Houston, Texas, United States, I set up a Blog: Hamiltonatlarge.blogspot.com. My goal was to be in total control of my thoughts, and grammatical errors or not. It was a great experience, and I did great things with it. It's now a private blog, no longer open to the public.

Over the years and since my romance with social media, I have been guided by one fundamental principle, to wit, if I don't have the facts right, better information, and a better understanding of the covered issue than the leadership I'm attempting to lead, I won't write. That's my approach and the uniqueness that defines my writing.

Others analyze the decisions and actions of the government, but I provoke the decisions and actions of the government. If that's the best use I can make for now for my graduate-level background in Administration and Management it is a worthwhile endeavor,

Anyway, who can forget so soon the series of my essays on the inability of the NNPC to meet its OPEC-allocated crude oil production quota that I wrote between May and August last year that ultimately compelled the NNPC to confess to Nigerians that they cannot account for about 80% of our crude oil production?

No one else considers it topical or newsworthy that Nigeria is the number one OPEC member country that is not able to meet its crude oil production quota, while Saudi Arabia is making a killing from the hike in crude oil sales that was prompted by the war between Russia and Ukraine. I did, knowing that crude oil is the mainstay of the Nigerian economy. And a pipeline surveillance contract was eventually awarded. That's decision has become the best cause of action in the history of Nigerian petroleum exploration.

There is a difference between opening the eyes of the government to comprehend new possibilities and viable approaches to rejigging the workforce in other to enhance values and productivity vis-à-vis criticizing and lampooning the government for its failings to act a certain way or doing the right thing. Yes, I provoke the actions and decisions of the government, and I've done that in America to an unbelievable degree.

I do not by any stretch of the imagination assume credit for the wisdom of the speech by the President; nevertheless, if the issues he addressed in the National Broadcast rhymed with the themes of the two essays I published here on my Facebook Page a few days ago and made encouraging efforts to address the arguments I developed, I have no alternative, but to welcome the speech and share it on my Wall.

There is no doubt that the essence of his victory or mandate is still being defined or litigated in court; however, until the Election Tribunal reaches its decision, Asiwaju Bola Ahmed Tinubu remains our President, and I will continue to play my part in ensuring his administration seek and follow the path of greatness and righteousness. It could have been Mr. Peter Obi or Alhaji Atiku Abubakar, and I will do the same. It's about saving the Nigerian economy from imminent collapse.

Please, see my three recent essays:

(1) "POLITICAL ECONOMY 101 - Purposeful Investment and Wealth Building: A Unique Model for the Nigerian Economy." July 29, 2023

(2) "The Search for Sustainable Visions and a Compassionate Spirit in the Nigerian Leadership." July 29, 2023.

(3) "When Is the Right Time to Appoint Ministers and Constitute a Cabinet?" July 19, 2023.

Change is about commitment. Asiwaju cannot afford to fail us. This message is specifically directed at All the President Men. If you guys are in want of ideas on how to move forward, ask yourself, what would Papa Awo do in a similar circumstance. Good luck.

Bayo Onanuga

 

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TEXT OF THE NATIONAL BROADCAST BY PRESIDENT BOLA TINUBU TO NIGERIANS ON CURRENT ECONOMIC CHALLENGES.

AFTER DARKNESS COMES THE GLORIOUS DAWN

My fellow citizens,

I want to talk to you about our economy. It is important that you understand the reasons for the policy measures I have taken to combat the serious economic challenges this nation has long faced.

2. I am not going to talk in difficult terms by dwelling on economic jargon and concepts. I will speak in plain, clear language so that you know where I stand. More importantly, so that you see and hopefully will share my vision regarding the journey to a better, more productive economy for our beloved country.

3. For several years, I have consistently maintained the position that the fuel subsidy had to go. This once beneficial measure had outlived its usefulness. The subsidy cost us trillions of Naira yearly. Such a vast sum of money would have been better spent on public transportation, healthcare, schools, housing and even national security. Instead, it was being funnelled into the deep pockets and lavish bank accounts of a select group of individuals.

4. This group had amassed so much wealth and power that they became a serious threat to the fairness of our economy and the integrity of our democratic governance. To be blunt, Nigeria could never become the society it was intended to be as long as such small, powerful yet unelected groups hold enormous influence over our political economy and the institutions that govern it.

5. The whims of the few should never hold dominant sway over the hopes and aspirations of the many. If we are to be a democracy, the people and not the power of money must be sovereign.

6. The preceding administration saw this looming danger as well. Indeed, it made no provision in the 2023 Appropriations for subsidy after June this year. Removal of this once helpful device that had transformed into a millstone around the country’s neck had become inevitable.

7. Also, the multiple exchange rate system that had been established became nothing but a highway of currency speculation. It diverted money that should have been used to create jobs, build factories and businesses for millions of people. Our national wealth was doled on favourable terms to a handful of people who have been made filthy rich simply by moving money from one hand to another. This too was extremely unfair.

8. It also compounded the threat that the illicit and mass accumulation of money posed to the future of our democratic system and its economy.

9. I had promised to reform the economy for the long-term good by fighting the major imbalances that had plagued our economy. Ending the subsidy and the preferential exchange rate system were key to this fight. This fight is to define the fate and future of our nation. Much is in the balance.

10. Thus, the defects in our economy immensely profited a tiny elite, the elite of the elite you might call them. As we moved to fight the flaws in the economy, the people who grow rich from them, predictably, will fight back through every means necessary.

11. Our economy is going through a tough patch and you are being hurt by it. The cost of fuel has gone up. Food and other prices have followed it. Households and businesses struggle. Things seem anxious and uncertain. I understand the hardship you face. I wish there were other ways. But there is not. If there were, I would have taken that route as I came here to help not hurt the people and nation that I love.

12. What I can offer in the immediate is to reduce the burden our current economic situation has imposed on all of us, most especially on businesses, the working class and the most vulnerable among us.

13. Already, the Federal Government is working closely with states and local governments to implement interventions that will cushion the pains of our people across socio-economic brackets.

14. Earlier this month, I signed four (4) Executive Orders in keeping with my electoral promise to address unfriendly fiscal policies and multiple taxes that are stifling the business environment. These Executive Orders on suspension and deferred commencement of some taxes will provide the necessary buffers and headroom to businesses in the manufacturing sector to continue to thrive and expand.

15. To strengthen the manufacturing sector, increase its capacity to expand and create good paying jobs, we are going to spend N75 billion between July 2023 and March 2024. Our objective is to fund 75 enterprises with great potential to kick-start a sustainable economic growth, accelerate structural transformation and improve productivity. Each of the 75 manufacturing enterprises will be able to access N1 Billion credit at 9% per annum with maximum of 60 months repayment for long term loans and 12 months for working capital.

16. Our administration recognises the importance of micro, small and medium-sized enterprises and the informal sector as drivers of growth. We are going to energise this very important sector with N125 billion.

17. Out of the sum, we will spend N50 billion on Conditional Grant to 1 million nano businesses between now and March 2024. Our target is to give N50,000 each to 1,300 nano business owners in each of the 774 local governments across the country.

18. Ultimately, this programme will further drive financial inclusion by onboarding beneficiaries into the formal banking system. In like manner, we will fund 100,000 MSMEs and start-ups with N75 billion. Under this scheme, each enterprise promoter will be able to get between N500,000 to N1million at 9% interest per annum and a repayment period of 36 months.

19. To further ensure that prices of food items remain affordable, we have had a multi-stakeholder engagement with various farmers’ associations and operators within the agricultural value chain.

20. In the short and immediate terms, we will ensure staple foods are available and affordable. To this end, I have ordered the release of 200,000 Metric Tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices. We are also providing 225,000 metric tonnes of fertilizer, seedlings and other inputs to farmers who are committed to our food security agenda.

21. Our plan to support cultivation of 500,000 hectares of farmland and all-year-round farming practice remains on course. To be specific, N200 billion out of the N500 billion approved by the National Assembly will be disbursed as follows:

-Our administration will invest N50 billion each to cultivate 150,000 hectares of rice and maize.

-N50 billion each will also be earmarked to cultivate 100,000 hectares of wheat and cassava.

22. This expansive agricultural programme will be implemented targeting small-holder farmers and leveraging large-scale private sector players in the agric business with strong performance record.

23. In this regard, the expertise of Development Finance Institutions, commercial banks and microfinance banks will be tapped into to develop a viable and an appropriate transaction structure for all stakeholders.

24. Fellow Nigerians, I made a solemn pledge to work for you. How to improve your welfare and living condition is of paramount importance to me and it’s the only thing that keeps me up day and night.

25. It is in the light of this that I approved the Infrastructure Support Fund for the States. This new Infrastructure Fund will enable States to intervene and invest in critical areas and bring relief to many of the pain points as well as revamp our decaying healthcare and educational Infrastructure.

26. The fund will also bring improvements to rural access roads to ease evacuation of farm produce to markets. With the fund, our states will become more competitive and on a stronger financial footing to deliver economic prosperity to Nigerians.

27. Part of our programme is to roll out buses across the states and local governments for mass transit at a much more affordable rate. We have made provision to invest N100 billion between now and March 2024 to acquire 3000 units of 20-seater CNG-fuelled buses.

28. These buses will be shared to major transportation companies in the states, using the intensity of travel per capital. Participating transport companies will be able to access credit under this facility at 9% per annum with 60 months repayment period.

29. In the same vein, we are also working in collaboration with the Labour unions to introduce a new national minimum wage for workers. I want to tell our workers this: your salary review is coming.

30. Once we agree on the new minimum wage and general upward review, we will make budget provision for it for immediate implementation.

31. I want to use this opportunity to salute many private employers in the Organised Private Sector who have already implemented general salary review for employees.

32. Fellow Nigerians, this period may be hard on us and there is no doubt about it that it is tough on us. But I urge you all to look beyond the present temporary pains and aim at the larger picture. All of our good and helpful plans are in the works. More importantly, I know that they will work.

33. Sadly, there was an unavoidable lag between subsidy removal and these plans coming fully online. However, we are swiftly closing the time gap. I plead with you to please have faith in our ability to deliver and in our concern for your well-being.

34. We will get out of this turbulence. And, due to the measures we have taken, Nigeria will be better equipped and able to take advantage of the future that awaits her.

35. In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters. That money will now be used more directly and more beneficially for you and your families.

36. For example, we shall fulfill our promise to make education more affordable to all and provide loans to higher education students who may need them. No Nigerian student will have to abandon his or her education because of lack of money.

37. Our commitment is to promote the greatest good for the greatest number of our people. On this principle, we shall never falter.

38. We are also monitoring the effects of the exchange rate and inflation on gasoline prices. If and when necessary, we will intervene.

39. I assure you my fellow country men and women that we are exiting the darkness to enter a new and glorious dawn.

40. Now, I must get back to work in order to make this vision come true.

41. Thank you all for listening and may God bless the Federal Republic of Nigeria.