After honeymoon, tales of woe, frustration trail Tinubu’s policies

Only 10 months ago, then candidate of the All Progressives Congress (APC), Ahmed Bola Tinubu, took Lagos by storm during his electioneering. He rode the crest and his followers added to the wind in his sail with their intermittent chants of “Jagaban Borgu,” “Asiwaju of the universe,” and “Akanbi,” which appeared to be the newest nickname that his supporters gave to him.

Market women and men abandoned their shops and stalls (even though some alleged compulsion) to facilitate a grand entry of “City Boy,” to Lagos City. Expectedly, major roads turned into a sea of heads, and a morass of colours.

But eight months after he won the presidential election, the scenario is gradually changing and the cheers and praises gradually drying up. The Friday, December 29, 2023, incident, where Tinubu was waylaid and screamed at by traders and residents of the famous Idumota Market, as he glided past them in a more than 20-car convoy lends credence to this.

Yelling at the top of their voices, in Yoruba, the distraught Nigerians repeatedly screamed: “Ebi npa wa o,” meaning “We are hungry.”In the trending video on X, formerly Twitter, the traders evenly distributed on both sides of the road, even with the presence of fully armed security operatives, shelved the vociferous hailing that they usually shower on Tinubu whenever he drove past in the past.

Besides decrying the pangs of hunger ravaging them, they strongly deplored the hardship and trauma, which they alleged is foisted on them by the policies, and programmes of the eight-month-old APC-led government.

Apart from openly criticising the large convoy of the president, they alleged that Tinubu knew what they had up their sleeves, the reason that the market was flooded with security operatives ahead of his passage.

Tinubu, who was in the state to celebrate the 2023 Christmas was on his way to the Lagos Central Mosque, in Lagos Island, for the Jumat Service.

Interestingly, in the troubling situation that the country has found itself in, Tinubu, his spokespersons, and sundry assigns have intensified trumpeting the supposed dividends that policies so far enunciated have brought to the country. But hard as they try to sell that narrative, evidence on the ground constantly counters their claims.

According to stakeholders, the economic crises that have engulfed the country since Tinubu came on board in May 2023, are beginning to “make the largely horrendous eight years of President Muhammadu Buhari’s tenure” to look like a child’s play judging from unfolding scenarios.

With headline inflation standing at 28.20 per cent, and food inflation at 32.84% per data from the National Bureau of Statistics (NBC), as well as, the World Bank raising Nigerians’ hopes that the economic crises would gradually ease this year, many are still peeved that while citizens are highly impacted by atrocious happenings in government circles, the president, until Tuesday, January 10, appeared unbothered travelling the country and the world with an army of aides.

It was amid widespread insecurity, and shrinking jobs that NBC revealed that the country suffered a 33 per cent investment decline to $1.03 billion in Q2 of 2023 compared to the $1.54 billion recorded in Q2 of 2022. In-country production fared no better as the Manufacturers Association of Nigeria (MAN), in its half-year economic review said that its members spent over N60.4 billion to ensure the availability of alternative energy between January and June 2023, a development that was 21.25 per cent lower than the N76.7 billion it incurred within the same time in 2022.

The pathetic power situation in the country contributed immensely to the operating loss recorded last year by MultiChoice, a South African broadcasting services provider, which last November announced a $72.4 million operating loss. It blamed the loss largely on exchange constraints and prohibitive energy costs.

The harsh operating environment has not spared the scalp of many outfits, including multinationals that are either lamenting or have packed their baggage to depart the shores of Nigeria. Among those hit by the inclement business environment are telecommunications companies, MTN Nigeria, and Airtel, both of whom have announced $ 232.8 billion, and $247.3 billion setbacks in forex-based transactions in that order.

The ruptured interior of the country’s economic milieu, experts also say, is already costing the country about 6, 000 jobs from the confirmed departures, scaled-down operations, or change of business modules so far announced by the following pharmaceutical outfits- GlaxoSmithKline, and Sanofi-Aventis, as well as, Jumia Food and Bolt Food, which are the food subsidiaries of online ride-hailing outfits. Other outfits that are in this category are consumer goods giants, Procter & Gamble PZ Cussons, and Equinor, a Norwegian oil and gas concern.

Grief, hopelessness, and frustration persist across country Since taking the reins, ululation has continued to emanate from different parts of the country with individuals and groups wailing over the soaring cost of living, worsening quality of life, in addition to mindless killing of innocent Nigerians by non-state actors.

Barely one week ago, the Trade Union Congress of Nigeria (TUC) told President Bola Ahmed Tinubu that Nigerians are yet to experience the Renewed Hope Agenda of his administration, asserting that their hopes have been dampened in the face of the current parlous economy

The TUC in a 10-point demand from the current administration this year, which was contained in its New Year statement, signed by its president and secretary general, Festus Osifo, and Nuhu Toro, stated that the outgone year was one long, excruciating litany of lost opportunities and dashed hopes.