” I have nothing to offer but blood ,toil,tears
and sweat” – Winston Churchill first speech to the British House of commons after his appointment.
At the time Winston Churchill a former career soldier and war reporter assumed office as the British prime minister, Britain and other allied countries were at war with Adolf Hitler led Germany and he needed to paint the picture of the future of Britain under his war time watch in words as a wordsmith and Orator of the first order. He refused to promise eldorado in his inaugural speech to the House of commons so as he did not want to appear
like a foolish optimist that desired to to deny the dark realities of the moment (apologies to Franklin Delano Roosevelt)
President Ahmed Tinubu on May 29 ,2023 on his inaugural speech while declaring with finality that “fuel subsidy is gone” to quote his exact word must have without knowing coveted the words of hopelessness that Churchill presented to the British House of Commons, as security and economy of the nation ebbs endlessly to the precipice with the citizenry Sentenced to toiling without results, resulting in ton of tears and sea of sweat.
Baying of Innocent bloods becoming the pastime of merchants of death that dots the landscape.
What else illuminates the dark realities of the time that Naira on a daily basis looks like a boxer that have entered the ring with Iron Mike Tyson who ends up kissing the canvass on every punch? Our national currency which is supposed to be a medium of exchange and store of value regrettably now looks like an emaciated orphaned toddler lacking in natural nutrients for growth.
Before former president Muhammadu Buhari came to power Nigerians were regaled with the tales of how he was going to shore up the value of naira and how dollar was going to take a whipping under his messianic rule and how such high hopes were dashed as naira continued to have a bloody nose under his Eight years reign. Infact at a time Buharis spin doctors denied that he ever promised to take naira out of the forex harmsway.
The city boy after his declaration of “Emilokan” at Abeokuta and his subsequent grabbing of the APC presidential primaries made it known that he was coming to power with the economic midas touch that he brought to bare as governor of Lagos state. He made that claim at Chatham House London and at different campaign grounds that it became a sing-song of his supporters. With the Naira at the Intensive care unit (ICU) many are asking where is the Lagos miracle worker that survived the President Olusegun Obasanjos economic blockade that came in the form of withholding of local government funds meant for Lagos state ?
What has become of the Lagos economic team that the president once worked with as governor in Lagos state who are now superintending over every important economic sector in the country? Could it be they have exhausted all the tricks in the magic bag?
The writer stumbled on a news item on February 3 ,2017 when the South South chapter of Christian association of Nigeria (CAN) through its National Vice president Bishop Simeon Okah called on then president of the country, Muhammadu Buhari to throw in the towel predicting call on so many reason that included the fall of naira. “The economy is dying ,when Jonathan handed over to Buhari ,the exchange rate was between #170 to 190 to a dollar .Today ,it is #550 to a dollar. Imagine how things had gone bad?While the church will pray ,if he (Buhari) cannot save the country, let him resign for the
country to move where God want it to be” Bishop Okah expressing frustration.
Today as the writer’s hand rocks the pen ,dollar is dancing beautifully at the forex Market, as one dollar approximates to #1,571.65 at the forex market and may shoot up in value tomorrow to the detriment of naira. Skit makers have found the rise and fall of naira a desirable content to be used for comedy . The writer once watched one by Nedu a skit maker ,who acted as black market money changer and was making calls frantically to know what the price of dollar was before attending to his customer who desired to buy some dollars . The comedy when watched has the capacity of making tears drop for Nigeria.
As we bemoan a naira nailed to the cross and refusing to rise ,we are also infuriated with spiking inflation. According to the national Bureau of Statistics (NBS) the country inflation rate rose to 28.92 percent in December 2023. In another report released by FocusEconomics a world leading economic forecast group ,inflation came in at 29.9% in January 2024 ,the highest level since May 1996 .The result according to the Economic forecast group was largely driven by a faster increase in food prices in addition ,price pressures for housing and energy at a stronger pace.
FocusEconomics on their forecast of the the Nigerian economy went on to make this prediction :
“Given the pace of month -on- month increase in prices ,deeply negative real interest rates and the large currency devaluation implemented in early February, annual average inflation will climb further in 2024 ,to average of 28.5%from an annual rate of 24.7% in 2023”
Talking of increase in prices ,where does one start ? A bag of 50kg local rice now sells for 80,000 naira ,while the foreign one goes for 90,000 naira . For those that brag about Nigeria Jollof rice being better than Ghana Jollof rice ,there won’t be any rice for the low income Nigerian to savour the jolly rice ,with the prevailing price at the market. Gone are the days when families on the lower rug of the economy manages to savour rice on Sundays as against every other day as we now have an economy that looks scary as the three witches that appeared to Banquo in Shakespeares Macbeth .
For our mother’s and wives that source for food items in the market, it has been a period of increased palpitation of the heart each time they price food items ,as be it Beans , Cartoon of Indomie ,Yam ,Palmoil ,Garri ,Fish ,Meat ,etc have all climbed the roof tops as regards prices. No amount of money used in going to the market can be enough to purchase desirable food items. Most families go to sleep hungry as prices of food items are beyond their financial capacities. With the way economy has retrogressed ,obesse people may not have to spend money going to the gym to lose weight as hunger in the land will take care of the excess calories in the body .
For people planning to build houses ,this period must be their worst nightmare, as a bag of cement hovers around 12 thousand to 15 thousand naira ,depending on location. The two dominant cement manufacturing companies, Dangote Cement and BUA are defending their high prices based on the high cost of production ,which includes the cost of powering their plants and increased cost of transportation. Individuals that started their buildings before economic stagnation set in have all suspended work on site. Those conversant with the Christian holy writ ,will remember Jesus Christ statement that “birds have nest but the son of man has no place to lay his head” a situation that would become the lot of many Nigerians that desired to have a house of their own to lay their heads .
When on May 4,1999 ,this writer wrote an article titled “The economy we want “published in the National Post, a newspaper floated by Chief Emmanuel
Iwuanyanwu the president of Ohaneze, it was to raise alarm on the despicable state of the economy under the military administration of General Abdulsalami Abubakar. As of the time in question, one thought that the river was on the neck of Nigerians ,but with what the citizens are experiencing under the administration of Senator Bola Tinubu,it appears literally that Nigerians are being dragged to Golgotha for abject crucifixion ,as the economy gasp for breath, with t6he poor not breathing in the process ,negating the plea of the president when he exclaimed “let the poor breathe”
As managers of the economy continue to experiment on staccato of economic policies that pales into insignificance, bulk of the population bearing the brunt of the bitting economy have refused to remain taciturn. The situation at hand invokes that passage in Matthew 2:18 in the holy Bible that stated inter alia:
“A voice is heard in Ramah,mourning and great weeping ,Rachel weeping for her children and refusing to be comforted ,for they are no more” .
Do you expect a man who buys a litre of fuel at 670 naira not to mourn and weep? What of the woman that went to the market without buying anything reasonably as a result of food inflation? How can you comfort that individual who has been forced to halt work on building being erected as result of high cost of cement? In the face of excruciating hardship ,some privileged Nigerians have been preaching the gospel of patience.
One notable figure that has pleaded with the teeming suffering masses to endure the hunger in the land is General Yakubu Gowon ,a former head of state. On a visit to Aso Villa to see president Ahmed Tinubu ,he spoke to state House correspondents and was quoted to have said it was too early for the president to achieve ‘absolute results ” after eight months in power. Was it not the president that told us that he would hit the ground running, how come he is not running but crawling as far as taking headlong the challenges facing Nigeria? No discerning mind will be goaded to accept General Gowons position.
Another prominent figure that has made a case for Nigerians to be patient with president Tinubu’s government is Minister of federal capital Territory ,Nyesom Wike .
The question that seems to be on the lips of political observers is what happened to the important virtue of “patience ” when the minister descended on Tim’s Fubara ,the man he helped to install in office as governor in Rivers state ?
One of those that have joined the chorus of patience for the presidency is the Attorney General and minister of justice,Lateef Fagbemi ,SAN . In his words he said “Nigerians need to be patient,things will improve greatly in coming days .The sacrifices of today will translate to a greater future for the economy . I know with prayers and support of Nigerians, the country will emerge stronger” The learned silk is talking about being patient with an administration that demands sacrifices from the hoi polloi (the common people) but do not demand same from people in power . Can you clap with one hand ? (Apologies to MKO Abiola)
Folashade Tinubu -Ojo ,the president’s daughter and Seyi Tinubu ,the Son have also been upbeat in their call for Nigerians to be patient with the administration of their father. Anybody expecting the duo to sing discordant tunes , must be making a huge mistake ,as it is their nest that is feathered by their father holding sway.
The writer wonders if the proponents of patience for president Ahmed Bola Tinubus government are aware of the immortal statement of the exceptional Russian writer Leo Tolstoy when he said ” if you feel pain ,you are alive, if you feel the pain of others ,you are a human being” . Tell me where is the humanity of those urging the suffering masses to exercise patience for a government that seems to be confused as to the challenges of the time. ? Why must we continue using a cliché that gives elixir to a non-performing government ?
The inimitable novelist and literary Scholar, Chinua Achebe in his book “The trouble with Nigeria” in unmistakable terms pointed Nigeria problem to be that of “leadership ” and it is that leadership that President Bola Tinubu must bring to the fore for the mass hysteria in the land to abate .
Naira cannot continue dancing naked in the market place, as it needs to be clothed with dignity. To make that happen, this government should go and study how General Sani Abacha was Able to strengthen the naira throughout his administration.
Let this government create the enabling environment for companies in the country to go into production, which ultimately will lead to a more stronger naira . Most company premises have been converted to church premises ,as cost of manufacturing became so high ,and that should not be the case for a country that wants to proper.
The country needs to see the pruning down of size of government, as the size of our government is outrageous for a country that is in a dire economic strait. Wasteful spending by government agencies should be outlawed .
Corruption, which appears to be the elephant in the room should not be treated with kid gloves as the national assembly must rise up to the occasion of giving us an act that prescribes death penalty for corrupt offenses as done in China which is a dominant economy in the world today.
The security architecture of the country needs to be revised to accommodate modern requirements, as we cannot continue losing Nigerians to Insurgency and criminalities . The writer is aware of staccato of suggestions made by scholars ,Economists ,financial experts ,public opinion analysts ,etc on how to get governance right in Nigeria ,and it behoves on the government of the day to harvest such suggestions.
Until traction is achieved by way of economic and political engineering, anybody coming with the sermon of
patience ,should know it that Nigerians have come to the stage when Adolf Hitler on September 26 1938 in a speech at Berlin said “My patience is now at an end”
Dr Uche Akunebu is the Head of poet del mundo (poets of the world) in Nigeria and Editor of African book series of the international human rights arts Festival based, New York.
