Chieftain of the All Progressives Congress, Chief Eze Chukwuemeka Eze, says deriding Atiku Abubakar and subjecting the former Vice President to some contemptuous media ridicule would not serve enough damage control for the Presidency to coverup the mess the clueless administration of Bola Tinubu has made of the Nigerian state.
Reacting to a piece in circulation tiled -“Atiku Would’ve Plunged Nigeria Into Worse Economic Situation”, credited to Special Adviser to the President on Information and Strategy, Bayo Onanuga, Chief Eze said it is, at least, fair, that the official Spokesman of the President has admittedly confided in Nigerians that the country is not better, but in shambles under the current regime, but wondered how Nigerian economy would have been worse under Atiku when in 2023, the campaign of the former Vice President as Presidential candidate boasted of the best economic policy; a policy thrust peculiarly crafted to drive the Nigerian state into economic fillip.
Onanuga, was reacting to the former Vice President’s statement of what he would have done differently to tackle Nigeria’s economic problems, if he were the country’s President.
According to Mr Onanuga, Atiku is pushing his untested agenda as a better alternative to President Bola Tinubu’s economic reforms, adding that if the former Vice President had won the election, he would have plunged Nigeria into a worse situation or run a regime of cronyism.
“Abubakar lost the election partly because he vowed to sell the NNPC and other assets to his friends.
“Nigerians have not forgotten this, nor would they be comforted by Atiku’s antecedents when he ran the economy in the first term of President Olusegun Obasanjo’s government between 1999 and 2003,”
Onanuga added that Atiku supervised a questionable privatisation programme.
“He and his boss demonstrated a lack of faith in our educational system, and both went to establish their universities while they allowed ours to flounder.
“Talk is cheap. It is easy to pontificate and deride a rival’s programmes even when there are irrefutable indices that the economic reforms yield positives despite the temporary difficulties.
“Despite the futile attempt to hoodwink Nigerians again in his statement, it is gratifying that the former Vice President could not repudiate the economic reforms pursued by the Tinubu administration because they are the right things to do,” Onanuga said.
He said the former Vice President’s advocacy for a gradualist approach only showed that he was not in tune with the enormity of problems inherited by Tinubu-led administration.
In a statement made available to the media, Chief Eze said, ” it is totally debasing and an affront for Onanuga to aim at comparing the administration of Obasanjo/Atiku to the current confused, aimless and visionless government, which has continued to unleash hardship on Nigerians”, he said.
He added: “Honestly, Onanuga goofed in his futile attempt to justify the shenanigan currently going on in Nigeria occasioned by Tinubu’s anti people policies, which have plunged Nigeria into the poverty capital of the world status. There’s no basis for Onanuga’s rant, except for the fact that he wrote to justify his pay as a media hireling.
“It beats one’s imagination that Onanuga decided to pour invectives on Atiku because of a President that has made every Nigerian, both rich and poor unable to have one good square meal a day. Today, Nigerians are dying in droves and those that survive are committing suicide because of managerial ineptitude of one man?
“Let truth be told, no other Nigerian including Atiku would have plunged this nation into the mess that Tinubu has driven this nation to. Tinubu is clueless. He had no plans so the failures of his administration are not matters of surprise to the populace.
“Today, this administration runs on borrowed money while the administration of Obasanjo/Atiku was paying off our debts to international financial institutions and offering grants to some African states.
“Atiku would not have subscribed to the nepotic tendencies that has become the driving force of the current regime. A government that runs on the idea of one region of manning all sensitive security and economic positions.
“The entire northern region and nation have been thrown into darkness as the national grid embark on a collapse spree, falling multiple times in a week. The south and other parts of the country have not seen electricity for weeks.
“Over 30 minors arrested during the endbadgovernance protests were made to face treason charges for exercising their rights as provided under the constitution and other international instruments. The Tinubu government argues that the minor attempted to overthrow the President but shamelessly after much cries from Nigerians and International Community they have released these children who may not forgive this country for the level of torture they were submitted to.
“Only a failed leader like Tinubu would come up with this frivolous reactions to people’s expression of their rights.
“Instead of Onaunga and some of the sycophantic opportunists at the corridors of power to run down our dear country, it would have been patriotic for them to co-opt great minds like Atiku to help the administration salvage the country from the crass leadership ineptitude.
“If one may ask, what crime has Atiku committed in feeling concerned and empathetic for the nation being run by a very set of political opportunist bereft of ideas?
“If not that Prof. Yakubu is in INEC and the Judiciary being manipulated to ensure fraudulent elections in Nigeria, do we have any chance as a political party to win any credible election in Nigeria?
“Specifically, Atiku’s statement on what he would have done different was borne out of patriotism and love for country as he rightly stated that, “We would have undertaken extensive reforms of the public sector institutions to maximize reform impact. We would have placed special focus on security viz: “Commenced on day one, the reform of security institutions with improved funding, and enhanced welfare. My Policy Document had spelt out a Special Presidential Welfare Initiative for security personnel that we would implement
“Adopted alternative approaches to conflict resolution such as diplomacy, intelligence, improved border control, deploying traditional institutions, and good neighbourliness.
“We would have launched an Economic Stimulus Fund (ESF), with an initial investment capacity of approximately US$10 billion to support MSMEs across all economic sectors.
“How would this have been funded?
“Details are in my Policy Document, alongside the ESF, we would have launched a uniquely designed skills-to-job programme that targets all categories of youth, including graduates, early school leavers as well as the massive numbers of uneducated youth who are currently not in education, employment, or training.
“To underscore our commitment to the development of infrastructure, an Infrastructure Development Unit (IDU) directly under the President’s watch would have come into operation. The IDU will have a coordinating function and a specific mandate of working with the MDAs to fast track the implementation of the infrastructure reform agenda within the framework provided herein. The IDU will hit the ground running in putting the building blocks for our private sector driven Infrastructure Development Fund (IDF) of approximately US$25 billion.
“To engender fiscal efficiency and promote accountability and transparency in public financial management, we would have committed to a review of the current fiscal support to ailing State-Owned enterprises. We would have also begun a process review of government procurement processes to ensure value-for-money and eliminate all leakages.
“We would have initiated a review of the current utilization of all borrowed funds and ensured that they were deployed more judiciously.
“Yes, I have always advocated for the removal of subsidy on PMS because its administration has been mildly put, opaque with so much scope for arbitrariness and corruption. Mind boggling rent profit from oil subsidy accrued to the cabals in public institutions and the private sector.
“I would have prioritized the following:
“First, tackling corruption. Fighting corruption should have commenced with the repositioning of the NNPCL, which is a huge beneficiary of the status quo. Its commitment to reform and capacity to implement and enforce reforms is suspect. The subsidy regime has provided an avenue for rent seeking, and the NNPCL and its guardians will be threatened by reforms.
“Second, paying particular attention to Nigeria’s poor refining infrastructure. We are by far the most inefficient OPEC member country in terms of both the percentage of installed refining capacity that works and the percentage of crude refined. We would’ve commenced the privatization of all state-owned refineries and ensure that Nigeria starts to refine at least 50% of its current crude oil output. Nigeria should aspire to export 50% of that capacity to ECOWAS member states.
“Third, adopt a gradualist approach in the implementation of the subsidy reforms. Subsidies would not have been removed suddenly and completely. It is instructive that when I was Vice President, we adopted a gradualist approach and had completed phases 1 and 2 of the reform before our tenure ended. The incoming administration in 2007 abandoned the reforms, unfortunately. The majority of the countries that review or rationalize subsidy payments adopt a gradualist approach by phasing price increases or shifting from universal to targeted approach (Malaysia, 2022 and Indonesia, 2022 -2023). In many EU economies, complete withdrawal often takes 5 years to effect. The gradualist approach allows for adjustments, adaptation and minimizes disruptions and vulnerability.
“Fourth, implement a robust social protection programme that will support the poor in navigating the cost-of-living challenges arising largely from reform implementation. We would’ve invested the savings from subsidy withdrawal to strengthen the productive base of the economy through infrastructure maintenance and development; to improve outcomes in education and healthcare delivery; to improve rural infrastructure and support livelihood expansion in agriculture; and develop the skills and entrepreneurial capacity of our youth in order to enhance their access to better economic opportunities.
“I also made a commitment to reform the operation of the foreign exchange market. Specifically, there was a commitment to eliminate multiple exchange rate windows. The system only served to enrich opportunists, rent-seekers, middlemen, arbitrageurs, and fraudsters.
“What would I have done?
A fixed exchange rate system was out of the question because it would not be in line with our philosophy of running an open, private sector friendly economy. On the other hand, given Nigeria’s underlying economic conditions, adopting a floating exchange rate system would be an overkill. We would have encouraged our Central Bank to adopt a gradualist approach to FX management. A managed-floating system would have been a preferred option.
“In view of the foregoing, what is wrong for Tinubu and his aimless team to seat down with Atiku and find a way to navigate this country out of the ugly situation we have found ourselves.
“Rather than pour torrents of abuses on the former Vice President of the Federal Republic of Nigeria and a democratic institution of note in Africa, Tinubu and his attack dogs should do well by forgetting about 2027, and settle down to see if they could provide people oriented democratic governance”.
Eze challenged Onanuga to go to Ijebu Ode, and conduct a random opinion poll on the plight of his kinsmen under the present administration and see what would be the outcome.
“Let me counsel my friend, Onaunga to find time and read what Afenifere advised Tinubu to do. According to this patriotic body, “We can never condone the outrageous bias by Tinubu to make Yorubas head of all arms of the criminal justice system (including the EFCC, DSS, Attorney-General, and Chief Justice); the economy (such as the Coordinating Minister of the Economy, CBN, Finance, Blue Economy, Digital Economy, Trade, Industries and Investment, Bank of Industry, Solid Minerals); as well as the forces (army, police, customs, immigration, DSS).” Afenifere pointed out the hypocrisy of supporting Yoruba dominance after decades of fighting against what they term Fulani hegemony.
“How can any sound person support such a vicious government. TINUBU has succeeded to ridicule the vision and rubbish the risk most of us took in the formation of APC
:I can now understand why Atiku Abubakar nicknamed this administration as T-Pain. Supporting this nickname of Tinubu’s administration, Atiku expressed concern about the escalating inflation rate, stating that it is severely impacting the lives of Nigerians. He lamented that despite the growing hardships, Tinubu appears unfazed by the plight of the citizens.“The haphazard and disingenuous approach of the current administration to fuel subsidy management has been the reason we are in this current economic crisis in the country.“As things stand, there will be no let up in the escalating inflation rate, which is drowning the material well-being of Nigerians.
“At this trying period in the history of Nigeria’s democratic governance, what the country craves for is a way out of this man made hardship caused by President Tinubu’s bad economic policies. This is not the time for bootlickers like Onanuga to throw caution to the wind, and jump into the media space to defend the indefensible; a wicked gang of insensitive, high-handed, and visionless political marauders.
“On this note, I advise my good friend Onanuga to desist from spewing out trash in the name of defending an administration that has lost touch with the yearnings and aspirations of Nigerians”.
