*Photo: President Bola Tinubu *
– By Kunle Oyatomi.
In Revolutionary France of the 18th Century, Queen Marie Antoinette angered the hungry citizens when she was reported to have asked them to go for cake instead of bread. She made the suggestion in the face of a severe scarcity of loaves nationwide. It was a callous and insensitive statement, knowing full well that if the common man couldn’t access bread, wouldn’t it be more difficult going for cake? But she exposed how alienated the royal court was from the street people.
The palace fed on luxury with the masses’ taxes while the hoi polloi couldn’t even access basic needs. Antoinette said: Qu’ils mangent de la brioche. (Let them eat cake). It was said to ‘’reflect either the princess’ frivolous disregard for the starving peasants or her poor understanding of their plight.’’
Prudent leaders who desire lasting affinity with their subjects are expected to empathise with them. They make policy statements that won’t infuriate the people in times of difficulties associated with economic hardship such as we are witnessing in Nigeria at the moment. You don’t ask them to ‘’go to hell’’, as it were, as implied in the French queen’s cake proposal.
The difference is that our president isn’t asking us to eat the food of the gods, in a manner of speaking; rather he’s saying his administration is initiating moves to give us what is in order for both the elite and the masses.
Here in our day, my reading of President Bola Tinubu’s Independence Anniversary dawn broadcast is that it is a long and wise departure from Madam Antoinette’s advice to the peasants. Every line of his widely published delivery breathed sure steps by his government to ameliorate the plight of the people. And as I’m going to try to show shortly, Tinubu touched virtually all segments of the citizenry. He left no stone unturned, as the popular English cliché goes. His words not only gave hope for a way out of the present straits, but also how to set the nation on a path to a future of economic stability and progress.
Now, the optimism we’re talking about is drawn from the fruits of the current reforms that started right from the inception of the Tinubu government in late May 2023. Oh yes, they’re tough; but we need them to kill the long-standing cancer in the system, before they kill us. We need patience to bear with him and his team to rein in the incubus of corruption with its accompanying ills of indiscipline, inefficiency and insolvency, despite the application of all economic levers over the decades before the coming of this government.
For instance, the reforms we have seen in the past one year plus have attracted foreign investments worth more than $30bn. What does this mean in real terms? We are set for more economic productivity through job creation, reduction in imports, resuscitation of dead industries, notably in the rural regions, rehabilitation of broken down urban infrastructure, etc.
There’s more the president spoke of concerning his reforms: inherited forex backlog of $7bn has been paid; over N30trn Ways and Means debt which earned an embarrassing notoriety in the preceding administration has been paid; in addition, Nigeria has managed to keep her $37bn foreign reserves intact; we add to that the reduction of our debt service ratio from 97% to 68%.
Economic experts say these are some of the metrics that inspire local and international business players to partner with a country for real time investments. The most exhilarating at the moment is the mammoth move by ExxonMobil which, only days ago, unveiled a $10bn Deepwater Investment Plan in Nigeria. Hear what Vice President Kashim Shettima says of the deal: ‘’This…investment aligns perfectly with the President Bola Tinubu administration’s vision for a more investment-friendly Nigeria. We are committed to creating an enabling environment for such transformative projects.’’
Tinubu’s speech also addressed the vexed issue of hunger and high cost of living all over the country. He said his policies would promote mechanized farming, boost local food production and reduce food prices, which are critical to ensuring food security and driving economic growth.
How about the energy sector? There are dramatic initiatives. Tinubu is embarking on what is now described as ‘energy transition’. It entails chiefly the adoption of Compressed Natural Gas, CNG, for mass commute, which is expected to drastically bring down transportation costs and check the fatal pollution of the ecosystem.
Tinubu also brought no little joy to the hearts of Nigerian youths, who constitute an overwhelming majority of the population, such that some commentators have correctly labelled his speech as ‘youth-centric’, on account of his decision to convoke a National Youth Conference. He says the gathering will enhance employment opportunities, education and innovation.
Tinubu’s ultimate objective is to involve these youngsters in nation-building. For him, it’s not enough to brand the young citizens as the leaders of tomorrow; their journey into that future must start today. Don’t just give them leadership roles; let them be part of the process of apportioning them. That way, the nation offers them a sense of belonging. That critical segment would no longer experience a frustrating alienation.
Did Tinubu leave the question of national security out? Not at all. He confronted it and noted that there have been triumphs over Boko Haram, banditry and other security challenges. Obviously, this suggests the government’s commitment to restoring peace and stability across the length and breadth of the Nigerian territory. The sustainability of any reform is determined by the peace of the environment.
That peace is the spirit that ensures the reforms thrive and deliver their goals. Besides, the international community we’re inviting to contribute their hard-earned capital and skills to our economy would not come if they’re not guaranteed of their safety and that of their investments and their lives.
Let me conclude with these profound observations made by the University of Ibadan Laboratory Interdisciplinary Statistical Analysis, (UI-LISA): ‘’The analysis of President Tinubu’s address demonstrates a balanced narrative—acknowledging the hardships faced by the nation while also painting a hopeful picture of the future.
The president’s speech reflects his administration’s focus on long-term solutions, ranging from economic reforms to youth empowerment, agriculture, security, and energy. With continued commitment and the ongoing implementation of these reforms, Nigeria is on the path toward achieving stability, growth, and prosperity…The speech was laden with phrases such as ‘better days ahead’, light at the end of the tunnel’, and building a brighter future‘, signifying the President’s confidence in Nigeria’s ability to overcome its current challenges…(There are) promises of progress and security improvements, reinforcing hope for a brighter future.’’
*Oyatomi Esq. is on the Board of Independent Media and Policy Initiative, IMPI, based in Abuja*.
