Editorial Opinion
Deconstructing President Tinubu’s National Broadcast Speech
First, president Tinubu’s national address to Nigerians is an emergency emotional appeal to ‘hungry and angry’ Nigerians to bear the planless consequences of the removal of fuel subsidy. Watching and listening to Tinubu as he struggled to appeal on the emotions of Nigerians, rather than introduce policy measures that will address the after effect of fuel subsidy removal, it is clear that he is putting the cart before the horse.
This speech is an after thought, especially after he blurted during his May 29, 2023 inauguration, ‘fuel subsidy is gone’.
The measures he introduced to promote SMEs are quite elementary and does not critically address the challenges faced by owners of small businesses albeit he worked hard to convince Nigerians like the one-eyed man in a village, with his promise of providing single-digit loans at the rate of 9% per annum!
Throughout the twenty minutes duration of the president’s speech, he did not for once, make any reference to the state of Nigerian refineries. This does not bode well for a man who claimed the presidency had been his life long ambition – Tinubu appears unprepared for the position of president.
Today, July 31, 2023, president Tinubu has spent 61 days in office. This is enough time for him, as an ‘Executive President’ to have had the facts on the state of repairs of Nigerian refineries, and present same to Nigerians during this national broadcast.
I can’t understand how SMEs and other businesses can service a billion Naira loan within a period of 36 months. Is the business producing and selling Dollars?
Also, the students loan scheme he promised Nigerians is specifically cumbersome for the average Nigerian to bear and apply for. Not to talk about the stringent terms and conditions attached to the loan. Parents must submit proof of tax payment and perhaps their great-grand parents.
The introduction of mass transit buses for tertiary students is a policy that is nothing but unsustainable in the long run.
By the way, the 1 trillion Naira saved from the removal of fuel subsidy is already targeted at the funding of ‘creation of new ministries’, according to his chief of staff, Femi Gbajabiamila.
Clearly, the president’s national broadcast and address to Nigerians, everything being equal, should have preceded the removal of fuel subsidy.