It’s tempting to dismiss President Bola Tinubu’s Renewed Hope Agenda as too ambitious, too soon. But with three years still to go, it’s crucial to acknowledge the significant strides made so far.
Despite the initial skepticism, President Tinubu’s administration has established a trajectory of fiscal discipline, improved revenue generation, and tackled insecurity.
Two bold policies stand out: removing fuel subsidies and unifying exchange rates.
Nigeria has paid billions of dollars in subsidy, an act that has benefitted a small fraction of people to the detriment of millions of impoverished Nigerians. President Tinubu came, on his first day in office, and declared an end to that arrangement.
Analysts described the President’s action as bold and courageous.
Additionally, instead of following a similar economic trajectory that was the hallmark of the previous administration in defending the currency, the President, by allowing the market to decide and dictate the performance of the naira, took a detour.
Long overdue policies
These long-overdue measures have ended a decades-long drain on the economy, benefiting a select few at the expense of millions.
By removing fuel subsidies, the government has redirected funds to critical infrastructure projects in education, health, and roads.
The impact is evident in the various nationwide critical and capital projects.
Despite initial challenges, the student loan policy is now providing financial support to deserving students.
This investment in human capital will yield long-term benefits, as millions of Nigerians will appreciate the government’s bold decision.
Stories of students who had their dreams cut short due to funding abound, but with the financial options now in place, students need not worry about their education.
The Nigeria Consumer Credit Corporation (CREDITCORP) initiative will revolutionize the economy by expanding access to consumer credit, strengthening credit reporting systems, and ensuring every economically active citizen has a reliable credit score.
The government has also reduced the revenue-to-debt service ratio from 97% to 68%, indicating a decrease in debt burden and paving the way for sustained growth.
Additional achievements include negotiating a new minimum wage, introducing the CNG initiative, enhancing financial inclusion, and providing social protection for vulnerable Nigerians.
Financial autonomy has also been granted to local government areas, empowering them to drive growth and development.
Listening ears
President Tinubu’s commitment to constructive criticism and healthy conversation is encouraging. His philosophy of perseverance and dedication to greatness is evident in his efforts.
While challenges persist, the President’s bold decisions and initiatives have set Nigeria on a path towards growth and development.
The road to greatness is indeed difficult, but President Tinubu believes there are no shortcuts. With persistence and dedication, Nigeria can overcome its challenges and achieve sustained growth and development.
As we acknowledge these achievements, let us continue to engage in dialogue that propels the government toward greater heights. The future looks promising, and with renewed hope, Nigerians can expect a brighter tomorrow.
By Emeka Sunday
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