TINUBU: FINALLY, SOMEONE WITH THE COJONES?

President Tinubu is showing signs that he has what it takes to tackle some of the country’s intricate problems, reckons Joshua J. Omojuwa

It is my view that in football, those who wait to celebrate when the trophy is won will experience very few moments of joy because only one team can win. I speak from experience. In the EPL, I support Arsenal Football Club. This past season, Arsenal spent the most number of days atop the league table than any other team in the history of the Premier League, and yet managed to lose the title to nouveau riche Manchester City.

During the season, I was cautioned by friends and foes alike, not to celebrate because Arsenal would not win the league. They were proven right. However, nothing can take away my exultation at Arsenal’s brilliant play and attendant victories during the same season. Those who chose to celebrate only when Arsenal won the league, deprived themselves of the joy I chose to embrace. For me, this attitude is the maximisation of joy; joy as cash in hand. I hope the foregoing helps illustrate the points below.

There is an emerging trend that is as worrying as it is understandable. It is to be observed between those that insist it is too early to praise President Bola Tinubu for the decisions he has already gotten right and those who insist on celebrating his every good move. Interestingly, those who ask that praise be postponed are quick to point out failings as soon as they see them, early days or not. Whilst I belong in the cohort of those inclined to laud a great idea, I understand and appreciate the importance of the cynics. Collectively we are the tapestry that ensures the balance needed for a just and equitable society.

During the week, people reached out to ask me if I had the president’s ears. The reason? Because some of the issues I addressed in an earlier article, ‘Nigeria’s New Era: Urgent and Important Matters’ published here on the 26th of May 2023 have been tackled by the new president. Two thorny issues were the fuel subsidy conundrum and the parallel forex markets. I hurriedly assured them that I had no such influence. The magic seems to me to be that Nigerians have reached a consensus on both issues.

In Aesop’s famous fable ‘Who Will Bell The Cat,’ the mice quickly identified that belling the cat was the solution to their problem. To be certain, our challenge as a country has never been whether to bell the cat. We have since answered that question in the affirmative. In Nigeria, our cat is the unsustainable way in which the country and her resources are administered. Like the mice in the fable, the question has been which president would summon the political will, the cojones, to bell the cat. I think Tinubu is fast showing that he has what it takes.

In less than three weeks, the president has taken on two big issues that have hitherto defied resolution. Whether his actions turn out to be right or not is beside the point. What’s important is that we are doing something about reversing our current march to the precipice. This is not just incremental change, but disruption and this is what we need at this critical stage of our national life. 

In this same time frame, Tinubu has also assented to the electricity bill. The Nigeria Electricity Act devolves the power to generate, transmit and distribute electricity from Abuja to the states, companies and other private interests. This will invite investment into the sector and remove the encumbrances to power for everyone, especially rural, underserved or completely forgotten communities. This is truly transformational and has the power (pun intended!) to unleash hitherto shackled entrepreneurs groaning under the weight of previous market inhibiting laws.

In 2019, President Muhammadu Buhari controversially closed the land borders. The closure caused such distortions to the economy that the jury is still out as to whether the action caused more harm than good. Those borders are also finally, legally and officially open. When we put all these together, one can see that Tinubu appears to be doing the right things to enable the bulls charge through. The evidence for this assertion is in the historic numbers the equities market is recording.

There is more work to be done though. A lot more. We must make it easier for our manufacturers to export Made in Nigeria products. Currently, it is less excruciating to pay bribes to move goods across our borders than it is to scale the hurdles officially planted by those whose bread is better buttered by kickbacks. Our entrepreneurs often prefer to pay these bribes, thereby breaking the law, than to allow their business be broken by the law and those empowered to implement it.

Years ago, as part of my visa application process, I’d go to my bank to request signed bank statements I’d have to tender at the embassy. No one ever asked me for a bribe to get this done, mostly because banks are private establishments that realise that I have options and are grateful that I chose them. The process that once required commuting, some measure of paper work, and a bit of waiting now takes less than two minutes for me to process without leaving the convenience of my location. I go to the bank’s app, select Account Statement, choose the relevant account, choose the period of the statement’s coverage, request that it be stamped, signed and sent to my email. All this happens within two minutes.

This sort of disruption must be replicated across every tier and facet of the civil service. That way, there are much fewer opportunities for corruption.

As with the fuel subsidy and the parallel exchange rates that are now thankfully on their way out, several other steps need to be taken by the government to make the lives of Nigerians much easier. Or better put in the now famous words of Mr. President, to ‘Let the poor breathe.’ In the end, if the people win, the government wins too. This is not too much to ask and the president who has hit the ground running must look to sustain the pace.

Omojuwa is chief strategist, Alpha Reach/author, Digital Wealth Book