As President Bola Ahmed Tinubu administration wades through the levers of governance at the seat of power in Aso Rock, the clock has already begun its relentless march. The expectations are immense, the challenges are towering, and the hopes of millions of Nigerians rest heavily on his shoulders. From economic woes and security threats to the pressing need for unity in a deeply fragmented nation, Tinubu is now tasked with addressing a labyrinth of issues that will define his presidency—and perhaps Nigeria’s future.
Nigeria’s economy is in dire straits, nobody needs a soothsayer to gauge the economic indices so far. Over-reliance on crude oil and lack of divergent economic thrust has seen Africa’s largest economy relegated to fourth place behind South Africa, Algeria and Egypt – For contextual alignment, the flotation of the naira and unification of exchange rates to the US dollar can be adduced to this drawback. The nation has failed to diversify its sources of revenue, despite its vast potential in sectors like agriculture, manufacturing, technology and innovation. Inflation is at record highs, the currency (naira) has depreciated significantly, and unemployment especially among the youth remains alarming. President Tinubu’s administration faces the colossal task of not only stabilising the economy, but also setting it on a sustainable growth trajectory.
One pitfall of PBAT’s tenure is the evangelism that Nigerians need to be patient as reforms are engineered for economic development – The president still harped on this factor during his recent trip to China. The optics are poor as Nigeria’s helmsman acquired a presidential Airbus 330-200 jumbo jet worth billions of naira without appropriation by Nigeria’s legislature, a mint fresh Cadillac SUV, while majority of Nigerians wallow in abject poverty thanks to the asphyxiating economic policies of PBAT’s administration. Nigerians are been told to sacrifice, but the leaders frolic in rich trappings of affluence and wealth. If this author may ask, what does it profit a father who indulges in Bacchanal bandwidth, while his kids are starving?
The “faux pas” during the early days of Tinubu’s administration was the subsidy removal during the inauguration speech of the president and C-in-C without any remedial steps to cushion the blithering speech spasms; “Subsidy is gone!!!!! This announcement sent the economy into an uncontrollable spin with skyrocketing prices of goods and services, transportation amongst others.
Tinubu’s decision was hailed as a bold move thanks to the draining effect of fuel subsidy on national coffers. While Bretton Wood’s institutions and Western economists applauded the decision for its potential to free up funds for development, the immediate aftermath has been painful for the average Nigerian. The cost of living has skyrocketed, transportation costs have surged, and inflation continues to bite hard. In the short to midterm, subsidy has resurfaced with ballooning expenditure bills and the heartwarming news of PMS production at Dangote Refinery has not quelled the conundrum of energy supply with the cat and mouse game between NNPCL, FGN (Federal Government of Nigeria) and NMDPRA (Nigerian Midstream and Downstream Petroleum Regulatory Authority). Nigerians woke up last week to learn that pump price of PMS has been increased with resultant fuel scarcity and long winding queues, as oil marketers locked shop that left motorists and passengers in a quandary of immense proportions. These actions have thrown food and energy security into a logjam with spiraling inflation across board with purchasing power taking a massive dent.
In addition, Nigeria has one of the largest youth populations in the world, but the lack of job opportunities has turned this demographic dividend into a potential ticking time bomb. Tinubu will need to implement policies that drive job creation, especially in sectors that can absorb large numbers of young people, such as agriculture, tech, and services. Initiatives aimed at empowering small businesses and startups will also be critical in reducing the unemployment rate. Like the old mantra that states: “An idle mind is the Devil’s workshop”. The mass protests earlier are a reflection to this development, as youth across the country vented their spleen in public domain. Who knows, the next window of protest will not be announced as this recent development looks like a dress rehearsal with economic challenges not showing any signs of abating.
Tinubu’s administration must focus on creating a business-friendly environment that encourages both local and foreign investments. This means tackling corruption, streamlining regulatory processes, and improving infrastructure to support industry. Without these measures, potential investors may remain wary of entering Nigeria’s markets. So far investment charm offensive has witnessed BAT embark on trips to India, Netherlands, USA, UAE, Saudi Arabia, France, China amongst others with bucket loads of MOU’s that have not delivered measurable dividends till date.
The elephant in the room is security, which remains one of Nigeria’s most pressing concerns. The Northeast continues to be ravaged by the hydra headed monster of Boko Haram and ISWAP insurgents; the Northwest is plagued by banditry and kidnappings, while the Southeast grapples with secessionist agitations. Each region faces unique security threats, and collectively, they have eroded public confidence in the government’s ability to protect lives and property.
Despite gallant military efforts, Boko Haram and other terrorist groups remain entrenched in the Northeast. The prolonged insurgency has devastated communities, displaced millions, and destabilized neighbouring regions. Tinubu will need to work closely with the military and regional leaders to craft a comprehensive strategy to defeat these groups while addressing the root causes of extremism—such as poverty, unemployment, and marginalisation. The rampant banditry in the Northwest has become a national crisis. Entire communities live in fear of kidnappings, with victims often subjected to brutal conditions. Tinubu must strengthen intelligence gathering, enhance the capacity of security agencies, and provide local governments with the tools needed to combat these criminal elements.
Southeast agitation in the form of the Indigenous People of Biafra (IPOB) and other secessionist movements in the Southeast present a different challenge. While addressing the security dimension of these agitations, PBAT must also take a political approach by engaging leaders from the region to address grievances and foster a sense of inclusion in the national project.
With every passing day, the ticking clock grows louder, signaling the urgency to make critical decisions and effect meaningful change. Here is a deep dive into the key challenges Tinubu must tackle and how the pressure to deliver is mounting.
For President Tinubu’s administration, the clock doth ticketh faster than ever. Nigeria’s myriad challenges—from economic instability and security threats to the need for national unity and infrastructure development – yearns for immediate and decisive action. The pressure is immense, and time is of the essence with the recurring decimal that time is the colour of money. A factor that’s not on his side so far, with 15 months and counting in office and it’s not yet Uhuru for the generality of Nigerian citizenry.
Tinubu’s success will depend on his ability to balance long-term reforms with quick wins that provide relief to Nigerians. The world is watching with bated breath and more importantly, Nigerians are waiting for their helmsman to deliver on his promises. In a nation where hope has often been met with disappointment and bedlam as policies so far have hit Nigerians and corporates with a sucker punch, Tinubu must rise to the occasion with the much needed alacrity, leveraging his vast political experience and network to implement policies that can bring about real, tangible change – The time is nigh for him to sack, right size, downsize (whatever adjectival term suits your fancy therein) the deadwood in his cabinet, as majority of these lot have not delivered inspiration, succour and value on the beat so far..
The challenges are daunting, but they are not insurmountable. With strategic thinking, a capable team, and a clear vision for Nigeria’s future, Tinubu can navigate the stormy waters of governance and lead the country toward stability and progress. But every leader’s tenure is defined not just by their actions but also by their response to the ticking clock of time. For President Tinubu, the clock doth indeed ticketh in Shakespearean terms, and the future of Nigeria hangs in the balance. The question remains: Can he rise to meet the moment, or will time run out before his vision for a better Nigeria is realised? The country waits, watches, and hopes that the hands of the clock will not run out before change arrives.
•Ajanaku is a Communications and Advocacy Specialist based in Lagos, Nigeria…
