Tinubu’s Titanic wahala

by

By Tony  Ogunlowo

‘Titanic’ can mean something that is very big, gigantic or enormous and it was also the name of a ship that sank on its maiden voyage.

When the Titanic sank in 1912 it sank due to a number of avoidable factors: a ship deemed unsinkable that wasn’t fitted with watertight compartments, a ‘unprofessional’ seasoned captain who was apparently bullied into going at full speed through known ice-berg strewn waters, lack of common binoculars for the deck watch and the unavailability of enough life boats for all the passengers.

This all put together, as they say, was a recipe for disaster. Red flags were ignored.

Translating this to President Tinubu’s modern-day Nigeria, the avoidable factors that can sink the country are way too obvious.

Nigerians have long enjoyed the benefits of fuel subsidy. Costly as it is to maintain, it’s enabled the economy to keep running by keeping the cost of things low. Its removal, as can be seen, has created a domino effect, as the experts predicted, resulting in the prices of even the basic commodities skyrocketing as everyone passes on the additional costs. With inflation currently at 32.7% and still rising, things are only going to keep on getting more and more expensive. As a result, the new minimum wage of N70,000 will have less purchasing power than the previous 2021 minimum wage of N30,000. If fuel subsidy removal was meant to boost the economy it has done the opposite and will stagnate any efforts to kickstart it.   

The government’s inability to control corruption or severely punish corrupt officials which is robbing the country’s coffers of billions and billions of Naira every year is a stumbling block for development. If a corrupt government official who built 750 houses with stolen funds or an ex-Governor accused of misappropriating 80 billion Naira are allowed to walk around freely, supposedly on bail, without fear of eventual conviction - it questions the message the government is sending out to future looters. If the culprits were in Russia or China, the outcome will be totally different.

Even though an austerity economic policy may seem harsh like it was designed to rob Peter to pay Paul, it should be short, sharp hardship with green pastures in the foreseeable future – not ever! A good start will be to cut down on the number of foreign loans being obtained every year as their repayment can take a huge chunk out of the country’s annual income.

The new tax laws are long overdue and it should include that VAT earned in a State stays in that State: so, if your State doesn’t generate any VAT (- such as from the sale of alcohol products) you don’t get to share in what other States have collected.

Insecurity in the country is not something that started yesterday. Previous governments have blood on their hands for not nipping these insurrections in the bud before they grew to become monstrosities. You don’t pat yourself on the back, like the Nigerian Army likes to do believing you have the threat ‘under control’ – you eliminate the threat completely using what ever means necessary. Unless the order [ given by ‘Somebody’] is not to destroy them completely and to quote the late Sani Abacha,”…any insurgency that lasts more than 24 hours, a government official has a hand in it..”, no wonder Boko Haram continues to flourish and bandits like Turji Bello continue to taunt the government. When the armed robber Lawrence Anini did something similar in 1986 he was fished out within months, tried and executed.

As I’ve written before, the Nigerian Police Force is long past its sell by date and considering the ever growing population of Nigeria with its associated acts of anti-social behaviour, it’s time to seriously consider devolving the NPF into State-run outfits. The growing popularity of State-run security outfits, such as Amotekun, proves this is feasible and effective.

Considering the fact the country is going through severe economic hardship, the President himself, should curb frivolous spending where possible: no more new Presidential yachts or planes ( - that includes the new one for the VP), a cap on ridiculous-no-real-job SA and SSA appointments and most important of all - a cap on ALL politicians salaries and perks ( - which is to say if politicians are patriotic enough they’ll agree to a pay cut, forgo some of their benefits and pay for their own jaunts abroad). Implementing the Steve Oronsaye Report which recommends merging and closing of Ministries etc - that has been passed over by every President since President Goodluck commissioned it in 2011 will cut government operating costs even further. This should not just be at Presidential level but extended to all the States: this will not just streamline the bloated and largely inefficient civil service but will also weed out ghost workers and white elephant project.

The ‘japa’ movement which the government is trying to discourage should be allowed to continue. It’s morally wrong for a government that can’t provide suitable employment for its citizens to try and prevent them from seeking opportunities abroad : ‘japa’ is not just limited to Nigerians, it’s a worldwide phenomenon. People, British, American, Filipinos, are migrating worldwide to wherever there are opportunities for them to prosper. That’s the way the world works now: nobody is going to stay in a ‘sh*t-hole’ country if there are no opportunities for them to grow. Forget patriotism! It’s every man for himself! So, if a country can’t provide adequate employment opportunities, people will pack their bags and ‘japa’! And if you restrict them from leaving the country what are they going to do? Get up to mischief - 419, cultism, kidnapping!

These same people send money back to their home countries all the time: Nigerians in diaspora in 2023 alone sent home more than $19.5 billion Dollars. This is a huge injection of foreign currency for a country that desperately needs it.

So, just like the Titanic, the warning signs are there and the inevitable that will happen should they be ignored. The question is: which way is President Tinubu going to go. This is what I call the ‘Titanic Wahala’, ignore the obvious and the proverbial will hit the fan, sooner or later.

  • You can follow Tony Ogunlowo on Twitter: @Archangel641 or visit http://www.archangel641.blogspot.co.uk