AS PUBLISHED IN The Journal Nigeria June
2, 2025
Yemi Olakitan
Since President Bola
Ahmed Tinubu assumed office, the public conversation has largely revolved
around the harsh economic climate, controversial policy decisions, and a
general sense of discontent among citizens. From petrol subsidy removal to the
floating of the naira, criticisms have come thick and fast. And yet, buried
beneath the rubble of angry headlines and social media negativity, there are
achievements—real ones—that deserve to be acknowledged. Ignoring them doesn’t
only warp public memory; it erodes a balanced understanding of governance.
It’s no secret that
Tinubu’s presidency began with interruptions. His inaugural announcement to end
the fuel subsidy sent reactions through the economy. Overnight, transport costs
surged, inflation galloped, and Nigerians were left reeling. The anger was, and
remains, understandable. But to judge his administration purely through the
lens of short-term pain misses the broader picture—and perhaps, the long game
he’s trying to play.
One of the core pillars
of Tinubu’s reform agenda is economic deregulation. The fuel subsidy, which had
long been a sinkhole for public funds, cost Nigeria trillions annually,
benefitting a select few while draining national resources. Removing it was
politically risky but economically necessary. The impact has been bruising, but
the rationale was sound: to redirect public funds into sectors that can spur
long-term growth, such as infrastructure, education, and healthcare.
A similar argument
applies to the unification of the exchange rate. While the move introduced
volatility and widened inequality in the short term, it tackled the
long-standing issue of currency arbitrage, where a few privileged actors
profited from opaque and multiple exchange windows. It’s an unpopular reform,
but one that international economic observers and investors see as a sign of
fiscal seriousness.
Even more quietly,
Tinubu’s administration has taken steps toward improving federal
infrastructure. The continued focus on road and rail development—projects
inherited but accelerated—suggests a government aware of Nigeria’s logistical
bottlenecks. These may not be as headline-grabbing as fuel prices, but they are
the arteries through which economic rejuvenation will eventually flow.
Perhaps most
underreported is his effort to revamp the tax system. Through the Presidential
Committee on Fiscal Policy and Tax Reforms, the administration is trying to
widen the tax net without overburdening already-stretched Nigerians.
Simplifying taxes, closing loopholes, and digitizing systems are technocratic
fixes, not political fireworks—but they’re essential for national growth.
Of course, no one should
pretend that Tinubu’s record is spotless. Nigerians are suffering, and no
amount of macroeconomic explanation should dismiss the lived reality of
hardship. The administration’s communication has been poor, often failing to
explain not just what it is doing, but why. Trust deficits remain a major
obstacle, and valid questions about corruption, insecurity, and transparency
must persist.
But we must learn to hold
two truths at once: that a government can be faltering in its empathy and
delivery, yet still be planting seeds for reform that may bear fruit. The rush
to condemn everything as a failure is as unhelpful as blind praise. What’s
needed is a vigilant but fair-minded citizenry—one that can criticize without
erasing progress.
President Tinubu’s tenure
may yet be judged a success or a failure. But the debate must be honest, not
convenient. There is a baby in the bathwater, and if we’re not careful, we’ll
throw it out with our rage.
What often gets lost in
the noise is that beyond the major headline reforms and symbolic mega-projects,
President Tinubu’s administration has also posted tangible economic
milestones—ones that reflect a level of fiscal discipline and economic
rebalancing not seen in decades.
Nigeria’s trade surplus
surged to the highest on record under President Bola Tinubu as exports grew at
a faster pace than imports. According to reports, the country posted a trade
surplus of N16.9 trillion in 2024, up from N6.09 trillion in the previous year,
according to data from the National Bureau of Statistics.
For a country long
plagued by a chronic trade deficit and overdependence on imports, this surplus
signals a shift, however early, toward a more balanced and self-reliant
economy. It’s a sign that despite inflation, the underlying structure of trade
may be slowly stabilizing.
In 2024, Nigeria recorded
a GDP growth rate of 3.4 percent, the second-highest in the last decade,
according to the World Bank. While growth remains uneven and not yet deeply
felt by the average citizen, the uptick suggests that some of the tough
reforms—currency unification, subsidy removal, and investment in production—are
beginning to nudge the economy back on track.
President Bola Tinubu
also increased Federal Government revenue to N21.63 trillion, while reducing
the budget deficit to 4.127%, from 6.2%, in 2023, according to the National
Bureau of Statistics. That’s not just a technical win—it’s a foundational one.
A lower budget deficit
means less borrowing, a reduced debt burden, though borrowing may not be
completely abolished, since money is an instrument of growth. However,
Nigeria’s fiscal policy was built on the fragile promise of borrowing to stay
afloat, this cannot be all a nation depends on. Reversing that trajectory is no
small feat.
Across the country, over
70 highways are under construction simultaneously, a scale of development that
speaks to a serious commitment to physical transformation. These include
long-stalled projects, new expressways, and rural access roads—each with the
potential to cut travel time, open markets, and connect regions long neglected.
Yes, these projects must
be tracked for quality, transparency, and timely delivery. But their scale
alone is unprecedented in recent memory. In a country where infrastructure is
often a campaign promise more than a national priority, Tinubu’s government
has, at the very least, shifted that narrative into action.
Of course, numbers do not
cancel out suffering. Growth does not automatically mean prosperity for all.
And progress, however impressive on paper, must be matched by a commitment to
social inclusion, good governance, and accountability.
Still, we must give
credit where it is due. In an age of cynicism and quick condemnations, it’s
easier to mock than to measure, easier to dismiss than to debate. But serious
governance deserves serious engagement. The Tinubu administration is not beyond
criticism—but neither should it be denied acknowledgment when it takes bold,
measurable steps toward economic and infrastructural renewal.
The path Nigeria is on
remains steep, but not without direction. There is a baby in the
bathwater—clear signs of reform, results, and ambition. Our job as citizens
isn’t just to protest the temperature of the water. It’s to ensure the baby
grows strong.
Yet perhaps the most
visible sign of President Tinubu’s ambition lies in his bold infrastructural
push—most notably, the Lagos-Calabar Coastal Highway. It’s a project of
monumental scale and symbolic importance, not just because of its potential to
transform transportation and trade across southern Nigeria, but also because it
speaks to a broader vision of national connectivity.
The highway, stretching
over 700 kilometers along the southern coastline, aims to link Lagos to Calabar
through key cities like Warri, Port Harcourt, and Uyo. Beyond improving travel
time and opening up coastal communities, it promises a surge in job creation,
private investment, and tourism. It’s the kind of project that, if completed as
envisioned, could reframe the narrative around Tinubu’s presidency—from one
focused solely on austerity to one that includes ambition and legacy-building.
Critics have pointed out
the high cost, the displacement of businesses and homes along the right of way,
and concerns over transparency in contracting. These are fair issues and should
not be dismissed. But focusing solely on these concerns without acknowledging
the project’s long-term economic and social potential misses the larger point.
Infrastructure—particularly of this scale—is never painless. It always comes
with trade-offs. The question is whether the government is mitigating those
trade-offs transparently and equitably, and whether the future benefits will
outweigh the current disruptions. That’s where sustained public scrutiny should
focus—not on stopping development, but on shaping it responsibly.
Beyond the coastal
highway, the administration is pushing forward with other transport corridors,
bridge constructions, and airport upgrades. There’s renewed energy around
completing legacy rail projects and improving electricity distribution
infrastructure, particularly through partnerships with private sector actors.
These projects, often technical and underreported, are crucial for unlocking
productivity, lowering costs of doing business, and improving quality of life.
None of this is to
suggest that infrastructure alone can rescue a presidency or an economy. But it
is an important marker of seriousness—an attempt to lay down physical assets
that can support the nation’s future. And if done right, it’s a domain where
government action leaves a visible, measurable imprint on everyday life.
What President Tinubu needs now is not less scrutiny, but smarter scrutiny.
Nigerians should challenge the opacity of contracts, demand inclusive urban
planning, and press for environmental responsibility. But we should also
recognize when leadership attempts something structurally meaningful. In a
country where “nothing works” has become a tired national slogan, projects like
the Lagos-Calabar Coastal Highway dare to imagine that something can.
In all, President Tinubu’s administration is a contradiction of urgency and
upheaval, reform and resentment. The criticism it faces is legitimate—but if
we’re being honest, so are some of its efforts.
His achievements are
numerous for this space; in the area of education, the poor, for the first time
in the nation’s history, are able to access students’ loans. Technical
education is now free in Nigeria while students of technical colleges can now
receive N45,000 Naira stipends.
To throw away the baby in the bathwater is easy. To clean the water, hold on to
the baby, and still demand better? That’s the harder task. But it’s the one
that leads us forward
