Mixed reactions trail Nigeria’s 64th Independence anniversary
*We’re retooling economy to serve Nigerians better – Tinubu
- Independence Day speech confirms APC’s insensitivity to Nigerians- PDP
*CSOs protest high cost of living across cities
BY ORIAKU IJELE, TUNDE OPALANA & TITUS AKHIGBE
Nigeria’s 64th Independence Anniversary has come and gone but not without mixed reactions, no thanks to the lingering economic hardship which has bedeviled the nation.
While the President believes the country is on the right path to economic emancipation, the opposition and the civil society think otherwise, more so that protests were held in major cities across the country, to drive home the hardship occasioned by the removal of petrol subsidy.
But President Bola Tinubu says his administration is retooling the economy through necessary reforms to serve Nigerians better and more sustainably.
The President said this in his Independence Day broadcast on Tuesday.
“If we do not correct the fiscal misalignments that led to the current economic downturn, our country will face an uncertain future and the peril of unimaginable consequences,” he said.
He said thanks to the reforms embarked upon by his administration, the country attracted foreign direct investments worth more than 30 billion dollars in the last year.
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“Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes.
“This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively.
“As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA,” said Tinubu.
“The more disciplined approach adopted by the Central Bank to monetary policy management has ensured stability and predictability in our foreign exchange market.
“We inherited a reserve of over 33 billion dollars 16 months ago. Since then, we have paid back the inherited forex backlog of 7 billion dollars.
“We have cleared the ways and means debt of over N30 trillion. We have reduced the debt service ratio from 97 per cent to 68 per cent.
“Despite all these, we have managed to keep our foreign reserve at 37 billion dollars. We continue to meet all our obligations and pay our bills.
“We are moving ahead with our fiscal policy reforms,” he said.
According to him, to stimulate the productive capacity of the economy and create more jobs and prosperity, the Federal Executive Council approved the Economic Stabilisation Bills, which will now be transmitted to the National Assembly.
He said these transformative bills would make the business environment more-friendly, stimulate investment and reduce the tax burden on businesses and workers once passed into law.
However the Peoples Democratic Party (PDP) described the 64th Independent Day Speech by President Bola Tinubu as another lethargic and windy rhetoric of false performance claims and empty promises ostensibly scripted to delude Nigerians in the face of abysmal failure of the All Progressives Congress (APC) administration.
The party said it is appalling that the President’s speech was “a complete waste of time” as it did not address issues or proffer any solution to the myriads of economic and security problems created by the APC government, for which Nigerians are hurting.
The major opposition party in a statement by it’s spokesperson, Debo Ologunagba yesterday said President Tinubu by this speech has further confirmed the insensitivity of his administration towards the plight and demands by Nigerians which clearly authenticates PDP’s position that there is no hope in sight under the overtly clueless, insensitive and unresponsive APC-led government.
According to the PDP, “the failure of the speech to respond to the cries of millions of Nigerians that President Tinubu eases their suffering by reviewing life-suffocating policies of his government also validates concerns in the public space of an emerging totalitarianism where certain individuals or group of individuals are benefitting from the travail of the people.
“It is indeed shocking that Mr. President’s speech practically trivialized the very grave issues of pervasive economic hardship, unemployment, acute poverty, widespread hunger and starvation in our country- for which Nigerians took to the streets in August this year- by claiming that about 10% of Nigerians have been plunged into hunger when confirmed reports show that over 100 million Nigerians can no longer afford their daily meals and other basic necessities of life under the APC watch.
“Equally appalling is Mr. President’s irreconcilable assurances of micro-economic improvement, lower cost of living and food sufficiency, when in reality his administration has failed to lower the price of fuel; the key driver of our nation’s economy, failed to inject resources into the productive sector to boost employment, stem the slide of the Naira and made no tangible investment in food production in any part of the country.
“The failure by Mr. President to listen to Nigeria to reduce the price of fuel, create employment and lift the value of the Naira by ending the profligacy in his government and direct resources to jumpstart our ailing productive sector shows that the APC administration is completely disconnected with Nigerians especially the youths.
“Moreover, from the speech, it is clear that the APC-led administration is determined to stifle our nation’s democracy; the very fundamental of any independent nation as it is loudly silent on the erosion of credible election and constant attacks on constitutionally guaranteed rights of citizens in our country under its watch”.
Urging Nigerans to remain calm despite their disappointment, the PDP counseled President Tinubu to visit the markets or take a walk with the youths on the street of any city in Nigeria to properly appreciate the real situation of the citizens rather than relying on fabricated statistics by officials of his government.
The anniversary heralded protests in major cities of Nigeria. In Edo State, the Coalition of Civil Society Organizations on Tuesday demanded the restoration of fuel subsidy, improvement of security, among others by the Bola Ahmed Tinubu administration.
The group which include African Network for Environment and Economic Justice (ANEEJ), Talakawa Republic,Take it Back Movement and Faculty of Peace Organization during a rally to the Nigeria Union of Journalists (NUJ),Edo State Council , Benin City said the removal of fuel subsidy, insecurity and floating of the naira have made life very difficult for Nigerians.
Speaking , Coordinator, Take it Back Movement ,Edo State,Dr Lawal Haifz said they are demanding that government should restore fuel subsidy , improve on security ,so that farmers could go to farm.
Haifz also bemoaned the free fall of the naira and urged government to restore the hope of the common man.
According to him, “We are here to protest the current situation in Nigeria. People are really suffering. We demand the restoration of the fuel subsidy. Insecurity has made it impossible for our people to go to farm and that is why you can no longer buy foodstuffs.
“We don’t need the Senate and House of Representatives at the same time .The money spent on the two House can go a long way to take care of Nigeria needs. The so called minimum wage cannot even buy a bag of rice. There is extreme hunger.” He said.
Also, speaking the convener of Faculty of Peace Organization, Comrade Kelly Osunbor, said the Nigerian political class are just being wicked. He queried where the money distributed to voters during the Edo State Governorship election on the 21st of September came from?
“They tell us that there is no money, where did they get the money shared to voters during the September 21 election? Just calculate the #10,000 to #20,000 distributed to voters, and they said there is no money. These guys are just being wicked. My father hoped for better Nigeria, he is dead now. He did not see a better Nigeria. Today we are hoping for a better Nigeria.
“Government does not provide anything. We sink our own borehole and the fuel God has given to us freely is what they are using to punish us. Let me tell you that they are calling for revolution.
If a parasite goes into its host, it will never stop eating the host until it finishes it . The Nigerian political class is like a parasite. They are calling for revolution, and they must get revolution. We have tried BVAS, it did not work, we have tried IReV , it did not work. We have tried Athahiru Jega, that one did not work. So, the only thing they will hear is revolution.” He said.
The coalition moved round the Kings Square (Ring Road) to the NUJ Center in GRA, Benin chanting solidarity songs while bearing placards with different inscriptions like: ‘Restore fuel subsidy’, ‘We are hungry” and ‘ End insecurity ‘ among others.
