Chief Bola Tinubu, former governor of Lagos State, has admitted to a lack of foresight regarding Nigeria’s challenges, despite asserting over two decades of readiness for leadership. In an interview with BusinessDay, Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, revealed insights into the administration’s struggles since taking office in May 2023.
Onanuga disclosed that upon assuming office, Tinubu was confronted with the harsh reality of Nigeria’s financial predicament. Despite prior assurances, the administration found itself grappling with severe economic crises, including currency devaluation and foreign exchange instability. The decision to swiftly remove oil subsidies underscored the gravity of the situation, revealing a government unprepared for the depth of the challenges.
Reflecting on the administration’s stance towards the previous regime, Onanuga highlighted Tinubu’s reluctance to assign blame, emphasizing the inherited liabilities overshadowing any assets. However, underlying tensions within the ruling party prior to Tinubu’s ascension further complicated the transition, casting doubts on the internal cohesion necessary for effective governance.
Addressing concerns over state police implementation as a potential solution to insecurity, Onanuga reiterated the government’s commitment to ongoing discussions but acknowledged the complexity of the issue. Despite widespread support, tangible progress remains elusive, with bureaucratic hurdles slowing down necessary reforms.
Regarding economic policies, Onanuga stressed the importance of inward investment and backward integration, particularly within the manufacturing sector. However, he also urged Nigerians to reassess priorities, advocating for reduced reliance on foreign currencies for education and leisure activities abroad.
Responding to criticisms over government transparency, Onanuga defended the administration’s handling of information dissemination, citing ongoing efforts to address systemic challenges. However, he acknowledged the need for improved communication and accountability moving forward.
On the issue of minimum wage negotiations, Onanuga echoed Tinubu’s caution, emphasizing the government’s financial constraints amidst inflationary pressures. While acknowledging the plight of workers, he underscored the need for fiscal prudence and sustainable economic policies.