By Adebowale, Miftau Adekunmi
Yes, the Tinubu-led government has a lot to do to salvage the deteriorating economy because his policy compounded it though not the cause, albeit with a clear intention to revamp the nation from financial insolvency or instability. If not for anything, just for the sake of the downtrodden and average wage earners. This is a fact we can’t all shy away from.
Both the macro and micro economy of our nation have really been wounded over the successive administrations but were largely wounded during the Bubari-led administration due to his complacency and the inordinate greed of those in the political class (public service).
As a matter of fact, the “wounds” in our economy were further festered by the sundry policy directions taken in the last few months such as fuel subsidy removal, floating of forex, among other, though taking those steps was highly necessary if the “Nigerian State” (government so to say) would be viable financially and economically. The situation has also been worsened by the vicious cycle of sabotage in our system.
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Now, the masses are at the receiving end. Saboteurs both in political class and economic sphere have been abound in the rotten system. The excessive proceeds from the subsidy removal to the all states through increase in FAAC allocation, currently have no effectual positive impact on the lives of the people at least, through the state governments. It’s so saddening to learn these same levels of government are still not taking any responsibility in a situation exacerbated by an arrangement which they have benefited from. What a blatant hypocrisy! At least, a lot of improvements would have been made if the state governments are focusing on some interventions at the micro-economic levels, while the federal government keeps her eyes on the macroeconomics.
This has not exonerated all other political leaders and public servants who easily point accusing fingers and pretending as if they care about the people, while they live fat through the ‘rakes’ they make from their daily manipulations of our economic and political systems. One would imagine how the National Assembly members have impacted their communities during this hard times, even despite the humongous packages of food items given to them by the Federal Government.
Saboteurs abound among the massess too. Wholesalers and retailers at specific industries are taking undue advantage of the current gaps in the nation’s economy as flimsy reasons to cause inflations, even in some markets not directly affected by forex and the related. For instance, one would imagine what could caused a drastic surge in the price of cements whose over 95% of its raw materials are sourced locally. Ditto to some local foods and products. Everyone just to want to make fast cool cash at any slight opportunity, even at the detriment of the helpless masses. Even the government agents meant to regulate the excesses in the market are readily available to eat theirs by taking kickbacks and leave the helpless masses to their fate.
What a country full of selfish people and unrepentant saboteurs! The people calling out the government are the ones ‘wantonly’ raking from for economy at every slight opportunity. The government and the political class pretending to care are the ones finding it hard to tame their greedy desires. The country now finds itself in a vicious cycle of saboteurs at every ange claiming to be insulated from the cause.
Everyone doesn’t know the single “bad”, greed and act of selfishness exhibited at every point of socioeconomic engagament will have a terrible ramification and consequence on the entire nation at the long run, which will affect all regardless. Here we are today. The money you greedily raked yesterday can hardly buy with yesterday’s value but inflated prices, while the downtrodden will still adjust to the realities.
At this point, the present Tinubu-led government needs to brace up on its remedial approaches and take a holistic view towards revamping the socioeconomic status of the country. Enough hasn’t been done at moment if it really wants to care about the masses. The Intervention has to start from the public service (like cutting down the governance costs as earlier announced), to the public sphere through adequate reorientation on culture needed for a virile nation-building.
Above it all, the excesses accrued from the subsidy removal and the related has to be well invested in socioeconomic policies, schemes and Interventions that will have direct impact on the downtrodden at the grassroots, not distributed for another eventual embezzlement.
Miftau Adekunmi Mufty a public affairs analyst, researcher and content writer, writes from Ejigbo, Osun State.
