President Tinubu: A Synopsis of His Administration’s Achievements Thus Far
Sunday Dare
Some Key Achievements and Others in Progress
Removal of Fuel Subsidies and Termination of Multiple Foreign Exchange Systems: This, Tinubu said, “had constituted a noose around the economic jugular of our nation and impeded our economic development and progress”.
Increased Government Revenues: Aggregate government revenues more than doubled, increasing by over N9.1 trillion in the first half of 2024, compared to the first half of 2023.
Ongoing Major Infrastructure Projects: These include roads, bridges, railways, power, oil and gas developments, notably the Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway projects.
Increased Oil Production: Oil production has increased to 1.7million barrels per day, and two Foreign Direct Investments of over $500m have been signed.
Compressed Natural Gas Initiative: Launched to power the transportation sector and reduce costs. Tinubu said, “This will save over N2 trillion a month, being used to import PMS and AGO”.
Student Loan Scheme: Approval of over N95.6bn to Nigerian students through the Student Loan Scheme. Six hundred thousand youth have benefited.
Consumer Credit Corporation: Established with over N200 billion “to help Nigerians acquire essential products without the need for immediate cash payments, making life easier for millions of households”.
Digital and Creative Enterprises: Empowerment of young people, creating millions of IT and technical jobs.
Skill-Up Artisans Programme: Introduction of the Nigerian Youth Academy and the National Youth Talent Export Programme.
Livelihood Support: The release of over N570 billion to the 36 States to expand livelihood support for their citizens, while 600,000 nano-businesses have benefitted from the administration’s nano-grants.
Reduction in Revenue to Debt Service Ratio: Reduced from 97% to 68% in the last 13 months.
Job Creation: Creation of 240,000 jobs through 10 Micro, Small and Medium Enterprises.
National Minimum Wage: Signing into law the new National Minimum Wage of N70,000, and the payments of N1 billion each to large manufacturers.
Removal of Tariffs and Import Duties: On rice, wheat, maize, sorghum, drugs, and other pharmaceutical and medical supplies for the next six months.
Incentives to Farmers: To increase food production at affordable prices.
Procurement of Mechanised Farming Equipment: Provision of equipment such as tractors and planters, worth billions of Naira from the United States, Belarus, and Brazil. 10k tractors of which 2k since arrived and distributed.
Increment and implementation of the NYSC allowances from N33,000 to N77,000.
The IMF Debt Clearance: Nigeria has cleared its $1.61 billion debt to the IMF, exiting from the fund’s list of indebted countries.
Key Gains
President Tinubu’s Second Anniversary
Fiscal and Monetary Gains
• External Reserves rose by $6 billion to $40.19 billion, boosting confidence and stability.
• Trade Surplus hit $13.17 billion, showing strong export performance.
• Portfolio Investments surged to $13.35 billion — a clear vote of confidence in Nigeria’s economy.
• Gas Exports jumped 48.3% to $8.66 billion
• Non-oil exports reached $7.46 billion, a sign of increasing diversification.
• Balance of Payments Surplus of $6.83 billion in 2024 – first in three years.
• Naira Stabilisation through deregulation of the FX market and forex subsidy removal by President Tinubu.
• FX Reserves rose by $364 million in two weeks before the MPC meeting in April 2025.
• External Buffers now cover 7.6 months of imports.
• Sovereign Sukuk Repayment: Nigeria fully repaid its first N100 billion Sukuk issued in 2017.
• Tax Reforms are underway; the Tax Reform Bill will soon be sent to the President for assent.
• Debt Servicing: Dropped from 95% to 65% of revenue, freeing up resources for capital and social spending.
• Improved Fiscal Space: Revenue to debt servicing ratio now at 45%, easing pressure on public finances.
Inflation and Economic Growth
• Headline Inflation dropped to 23.71% in April, from 24.23% in March – the sharpest decline in over a year.
• Month-on-Month Inflation decelerated for the second straight month in 2024.
• GDP Growth: Nigeria recorded the fastest economic growth in a decade in 2024.
• World Bank projects 3.6% growth for Nigeria in 2025. III. Social Investment and Human Capital
Revenue: President Tinubu has opened up Nigeria’s fiscal space with increased internally generated revenue from FIRS (N21.3 trillion) and Customs. FAAC monthly allocation to State Governments has increased by over 62%, freeing up resources for States to develop.
Youth and Education
• NELFUND Student Loans: Over 600,000 students have benefitted; nearly N75 billion disbursed to date.
• National Cash Transfer Programme: 5.7 million vulnerable households have benefitted; N25 billion budgeted in 2025.
Health and Social Welfare
• Primary Healthcare: 37 million Nigerians accessed Primary Healthcare Centres in Q1 2025.
• Six Cancer Centres to be established, of which three are ready for commissioning in June. 2025
• Over 1,000 Primary Health Care Centres have been revitalised with 5,000 undergoing revitalisation currently.
• Over 4,000 women have benefited from President Tinubu’s approved Free Caesarean Section surgeries for all pregnant women.
• Dialysis – heavily subsidised cost by the FG.
Regional Equity and Inclusive Development
Creation of Regional Development Commissions. Every geopolitical zone now has a dedicated commission:
• South West Development Commission (SWDC)
• North West Development Commission (NWDC)
• North Central Development Commission (NCDC)
• North East Development Corporation. NEDC
• South East Development Commission (SEDC)
• NDDC – Niger Delta Development Commission
Local Government Autonomy in Motion
• Legislative and policy push for LG autonomy backed by President Tinubu.
• Empowering local governments to drive grassroots development.
Security
• Combat Success: 15,543 insurgents neutralised nationwide in the first two years.
• Surrenders: 124,408 fighters of Boko Haram and ISWAP surrendered within the same period.
Anti-Corruption and Rule of Law
EFCC Convictions and Asset Recovery:
• In 2024, the Economic and Financial Crimes Commission (EFCC) secured a record-breaking 4,111 convictions, marking its most successful year since inception.
• The EFCC recovered over N364 billion, along with significant amounts in foreign currencies, including $214.5 million, £54,318.64, and €31,265
Largest Asset Recovery:
• In December 2024, the EFCC achieved its single largest asset recovery with the final forfeiture of an estate in Abuja measuring 150,500 square metres and containing 753 units of duplexes and other apartments.
• Final Forfeiture and handover of estate to the Ministry of Housing completed by May, 2025
Summary Narrative
Under President Tinubu’s leadership, Nigeria is turning the corner. From stabilising the Naira and curbing inflation, to reducing debt burdens and expanding access to education and health, the administration is delivering bold reforms with real results. With improved security, regional inclusion, anti-corruption action, and institutional rebuilding, Nigeria’s comeback story is not yet complete — but it is firmly underway.
Policy Outcomes and Benefits to the People
Benefits to the People, with data-backed achievements that directly impact
Everyday Nigerian:
Minimum Wage Reform
• Federal civil servants now earn N70,000, a major boost from the previous national minimum wage.
Youth Empowerment: NYSC monthly stipend increased from N33,000 to N77,000, boosting youth morale and spending power.
Student Support through NELFUND
• Over N70 billion was disbursed in soft education loans.
• Over 600,000 students have benefited.
• Loans cover school fees and living stipends, targeting equitable access to education.
Transport Relief via CNG Initiative
• Free CNG kits distributed to thousands of commercial drivers.
• CNG buses rolled out in partnership with State Governments.
• Transport costs dropping significantly in pilot States.
• CNG Campus Shuttle Scheme introduced at Federal Universities.
Revenue Boost to States
Federation Account Allocation to States has grown by 60%, enabling more local development projects.
Higher Education Stability
• N50 billion released to end ASUU strikes.
• No industrial action by ASUU in 2 years – the longest period of academic stability in a decade.
Primary Health Centres (PHCs)
• 1,000+ PHCs revitalised nationwide.
• An additional 5,500 PHCs undergoing upgrade under FG’s Renewed Hope Health Agenda.
Specialist Health Infrastructure
• 6 new cancer treatment centres are under development – 3 fully ready.
• Free dialysis services in pilot tertiary hospitals – heavily subsidised across others.
Free Maternal Health Services
• Over 4,000 women have undergone free cesarean sections under the Presidential Maternal Health Initiative.
Expanded Health Insurance Coverage
• The number of insured Nigerians increased from 16 million to 20 million within 2 years.
• NHIA reforms are ongoing to widen coverage and affordability.
Palliative Measures for Vulnerable Households
• N75 billion in palliative funds disbursed to States and LGs for food distribution and cash transfers.
• Millions of Nigerians received direct cash support during the fuel subsidy transition.
Agriculture: 10k tractors from Belarus. 2k arrived. 40% drop in food prices across the country.
Job Creation and Skills Training
Launch of 3 Million Technical Talent (3MTT) programme:
• Over 150,000 Nigerians are being trained in software development, tech support, and data analysis.
• Targeting employment and freelancing in the global digital economy.
Housing for All
• Renewed Hope Cities launched in 7 locations across Nigeria.
• Pilot phase: Over 20,000 affordable housing units are under construction.
Agricultural Support and Food Security
• Distribution of N200 billion in loans to farmers and agro-processors.
• Large-scale release of grains and fertilisers to cushion food inflation.
Digital Economy Empowerment
• Over 2 million Nigerians are now connected to new digital infrastructure including community broadband hubs and public Wi-Fi projects.
Anti-Corruption and Rule of Law
1. Anti -corruption
• A special investigative panel uncovered wide-scale abuses tracing over 753 properties with forfeiture proceedings completed.
2. Fiscal Sanity in MDAs
• Ongoing audits launched into over 200 government-owned enterprises, leading to the recovery of unremitted revenues.
3. Digital Procurement and Budgeting
• Rollout of e-procurement systems across Federal MDAs.
Sunday Dare, CON, Special Adviser to the President of Nigeria on Media and Public Communications
Tinubu: Half Term, Half Coherence
Dr Sam Amadi
Introduction
On May 29, President Tinubu celebrated two years of coming to the Nigerian Presidency. On May 29, 2023, Bola Ahmed Tinubu was sworn in as President of the Federal Republic of Nigeria after a long campaign, marked by his acerbic declaration of entitlement to the office of the President. Tinubu, when it appeared like his predecessor, President Buhari, was going to plot against him becoming the Presidential candidate of the ruling All Progressives Congress (APC), at a rally in his Southwest region, thundered: “Emi lo kan”, which translates to ‘it is my turn’. Tinubu pushed ahead against all odds, including running away from several scheduled television debates with other Presidential candidates, and sickly appearances in many public rallies, and got elected as President. For sure, he had a very slim victory, scoring 36.61% of the total votes and winning 12 States like Atiku Abubakar and Peter Obi. His opponents, Atiku Abubakar and Peter Obi, challenged his victory up to the Supreme Court.
Two years after, President Tinubu is struggling against headwinds, as he readies for another bruising campaign for a second term. The premise of presenting yourself to the electorate for a second term, is that you have delivered on your campaign promises. Has President Tinubu done the job of the people? Does he deserve a second term? Well, his campaign team seem to have responded to these questions, during its May 29 celebration. The Tinubu campaign team has touted its achievements, since May 29, 2023. The laundry list of supposed achievements by the Tinubu administration, reads like a collection of some mundane and some lofty projects. For example, reporting the clearing of backlog of 200,000 applications for passports is something that no one would consider a remarkable achievement, even if it signals some restructuring at the Ministry of Interior. Again, listing workshops organised for female citizens should not be considered a significant achievement to tout, in the context of the dysfunction that threatens to collapse Nigeria’s economic and social foundations.
What Has Tinubu’s Administration Achieved So Far?
Notwithstanding the pedestrian scorecard that Tinubu media handlers posted, what has the administration achieved in the last two years? The administration boasts success in economic policymaking. As soon as Tinubu came to power, he quickly removed subsidy on Premium Motor Spirit (PMS). This increased PMS price from N183 to between N950 and N1000 per litre. The administration has also increased electricity tariff for customers on BAND A, without improvement in power supply. The double distress of large increase in energy prices means increase in the cost of doing business for industries and commercial entities, especially small and medium enterprises. Furthermore, the Government boasts of its courage in floating the Naira in a manner that resulted in massive rise in exchange rate. Before Tinubu became President, the Naira exchanged 450 for the Dollar. Today, $1 exchanges for over 1500 Naira. At some point in 2024, the exchange of naira to dollar was N1800 to $1. These monetary policies have contributed to high inflation. Headline inflation is 23.78%, the second highest in countries in the world with available data. This is not withstanding, the favourable rebasing by the Bureau of Statistics. Tinubu argues that the current socioeconomic realities that Nigerians are suffering, are temporary pains of a bold economic reforms that will yield many benefits in a couple of years. In the meantime, about 56% of Nigerians are estimated to be very poor, and many more will cross the threshold of acute poverty in 2025.
The problem with Tinubu administration’s claim of accomplishment, is that it confuses hard with wise. It is not all hard and difficult policies, that translate to good outcomes. The logic of completely floating your currency when you do not export anything of much value apart from oil, is far-fetched.
Evidently, Buhari ran the economy down, with ways and means getting to about N30 trillion and foreign exchange reserves depleted to less than $10billion, inadequate for a month export. So, Tinubu was dealt with a poor hand. He did not have enough fiscal space, he could argue. But, he has continued to make things worse, through poor policy formulation. The administration could have used a managed float, in which it exposes the currency market to market forces in a guided manner. That would have reduced and mitigated inflation.
Admittedly, the Government has stabilised macroeconomic policy than Buhari administration. Its fiscal policies, are also better than Buhari’s. But, Buhari should not be anyone’s comparator. The Tinubu Government claims that it has saved $10billion annually, from removal of subsidies. Some State Governors have also stated that they have significantly increased the allocation from the Federation Account, because of the fiscal boom from subsidy removal. But, despite a better fiscal situation, the State Governments are not delivering dividends of democracy. Again, if Government is saving $10billion annually from subsidy removal, how come it is borrowing like a bankrupt? The lack of fiscal control means that the gains of monetary policy, do not cascade to an improvement of socioeconomic conditions of ordinary citizens. The absence of the required transmission mechanisms to turn monetary and fiscal policies into significant GDP growth or improvement in the wellbeing of citizens, indicates the weakness of the policy framework of the Tinubu administration. The rising costs of governance, the widespread corruption and glaring lack of coordination of policies across the different levels of government, means that no matter how reasonable some of the policies are, they cannot produce significant positive benefits.
The biggest failing of the Tinubu administration, may well be in the matter of security. The driving message of the APC in 2015 when it defeated the PDP, was that it had the better credential to end the high insecurity that had engulfed the country. APC slammed the PDP for supervising the rise of Boko Haram Islamic terrorism, and sundry violent crimes across the country. Sadly, the insecurity crisis worsened under APC’s eight years in office in the Buhari Presidency.
In the 2023 campaign, Tinubu promised to do better. But, so far so bad. In the week of his second-year anniversary, there was report of suicide bombing at a military barracks in Abuja; and in Borno State, one of the main centres of the Boko Haram terror attacks in 2014. The return of suicide bombing, a rarity since 2015, illustrates the worsening insecurity situation in the country. Despite the incessant political talks by the National Security Adviser, the Tinubu administration has not developed and deployed any strategic initiative to limit and overcome the manner insurgents, terrorists and violent criminals ravage Nigerian citizens. From terrorism to kidnapping or urban banditry, Nigeria today is as, or even more, insecure as it was in 2014, prior to APC coming to power. The lack of competence, at the level of leadership, and the transactional nature of the administration, make it difficult to win the war against insecurity.
The same reason Tinubu failed to succeed in the war against insecurity, explains the failure in the larger aspect of politics. The country is divided, arguably more than under Nigeria’s most divisive President, Buhari. Why and how did Tinubu, succeeding a divisive President like Buhari, not prioritise national unity? Today, his second term ambition risks defeat because he is perceived to be extremely nepotistic in the staffing of the Federal Government, contrary to the constitutional mandate of Federal character. The North that brought him to power feels alienated, and the Southeast that was marginalised by President Buhari, remains so under President Tinubu.
Beyond the electoral consequences of this approach to government, it inhibits the ability of the Federal Government to drive real transformation in governance. Development requires the mobilisation of the energies of a people. It requires changing mentality. The Presidency is a bully pulpit, because of the capacity of Presidents to change the culture and social capital of the people. This is what the best leaders have done, whether Lee Kuan Yew, General Park, or Deng Xiaoping. You cannot transform a society, unless you change the way people think and act.
Conclusion
After two years in office, it can be said that Tinubu’s major failure, is that he did not consider himself as a leader who needs to change the way Nigeria is governed. He brought together arguably the worst cast of rentiers and timeservers, to hold the most important political offices; he prioritised his political survival above the transformation of Nigeria, and continued the Lagos formula, which is basically running a mafia operation through institutionalised patrimony. Clearly, Tinubu has not changed Nigeria in a significantly positive way. Perhaps, his pedigree in politics is not suited for transformative governance.
Dr Sam Amadi
Tinubu’s Two Years: A Record of Broken Promises and Growing Hardship
Okechukwu Nwanguma
As Nigeria approaches Democracy Day, a moment for national reflection, it is important to take stock of the Tinubu administration’s performance after two years in office. Sadly, beyond symbolic gestures like the recent reintroduction of the old national anthem and a controversial Bill extending the tenure of the Inspector General of Police—rushed through by a National Assembly seemingly more loyal to the President than to the people, there is little substance to show.
From the outset, this administration has struggled with a crisis of legitimacy, stemming from a deeply flawed election. That crisis continues to cast a shadow over its governance. More troubling, however, is the deepening insecurity across the country. New and deadly terror groups have emerged in Sokoto, Kebbi, and Kwara State, unleashing violence that has displaced communities and devastated lives. Armed herdsmen continue to invade villages, raze farms, and brutalise citizens with impunity. The Federal Government’s failure to contain this violence, speaks volumes.
Healthcare remains in a state of decay. Despite substantial budgetary allocations —including funds earmarked for the State House Clinic — President Tinubu continues to seek medical care abroad, reinforcing the perception that even the ruling class has no faith in the system they oversee. Meanwhile, corruption festers, and anti-corruption institutions are increasingly seen as tools to target political dissent, rather than to uphold justice.
Economically, the country teeters on the edge. With a Naira in free fall, inflation surging, and purchasing power collapsing, everyday Nigerians are struggling to survive. Hunger, poverty, and social inequality are on the rise, yet there is little sign of urgency or empathy from the Government.
Rather than demonstrate a commitment to the pressing issues of governance, this administration appears preoccupied with securing power in 2027. Policies and political manoeuvres, suggest a focus on electoral advantage over national healing and reform.
As we mark two years of this administration, President Tinubu owes Nigerians more than silence and indifference. He owes them an apology—for the unfulfilled promises, the deepening insecurity, the economic hardship, and the erosion of public trust. More than that, he owes the nation a rededication to the principles of justice, accountability, and inclusive governance.
Democracy Day must not be a celebration of power, but a reminder of responsibility.
Okechukwu Nwanguma
Midterm of Misery: Periscoping President Tinubu’s Performance So Far
Haruna Yahaya Poloma
Two years ago, Bola Tinubu swept into power on the wings of his “Renewed Hope” mantra, promising prosperity, stability, and a break from Nigeria’s cycle of dysfunction. Today, as his administration marks its midterm, that hope has curdled into despair. Tinubu’s tenure has been a masterclass in economic mismanagement, policy incoherence, and a staggering indifference to the suffering of ordinary Nigerians. From skyrocketing inflation to a collapsing power sector, from mass unemployment to a security crisis spiralling out of control, his Government has presided over a midterm of unrelenting misery.
The Fuel Subsidy Fiasco: A Self-Inflicted Economic Catastrophe
Tinubu’s defining act – the abrupt removal of petrol subsidies on his inauguration day – was less a bold reform than an act of economic arson. Overnight, petrol prices surged from N185 to over N1,000 per litre, triggering a chain reaction of hyperinflation in transportation, food, and basic goods. The Government’s justification – that subsidy removal would free funds for development – rings hollow when Nigerians see no tangible improvements in infrastructure or social services. Instead, they face a brutal cost-of-living crisis, with inflation peaking at 34.8% in late 2024.
Worse still, the promised benefits of subsidy removal – like domestic refining capacity – remain a mirage. Despite Tinubu retaining the petroleum portfolio (a dubious tradition of Nigerian leaders), fuel imports continue as local refineries struggle. The much-hyped Dangote Refinery, while a rare bright spot, has yet to offset the crisis, leaving Nigeria’s energy sector in shambles.
The Power Sector: Darkness and Dysfunction
If Tinubu’s handling of fuel was disastrous, his administration’s approach to electricity is outright negligent. Under Minister Adebayo Adelabu, Nigeria’s power grid collapsed 12 times in 2024 alone, plunging homes, businesses, and even hospitals into darkness. Universities and medical facilities, including the prestigious University College Hospital, were disconnected for months over unpaid bills – forcing the Government to scramble for a N10 billion solar bailout for Aso Rock itself.
With only 5,000 megawatts for a population of over 200 million – compared to South Africa’s 58,000 MW – Nigeria’s power sector is a lamentable laughingstock. The introduction of punitive “consumption bands” has only raised costs without improving supply, perversely squeezing households and businesses.
Economic Freefall: The Naira’s Nosedive and the Exodus of Jobs
Finance Minister, Wale Edun presides over an economy in a free fall. The Naira, once trading at N740 to the Dollar, now wobbles between N1,500 and N1,600, eroding savings and purchasing power. The new minimum wage of N70,000 is a cruel joke when compared to South Africa’s N393,000 or Egypt’s N209,000 – yet even this paltry sum remains unimplemented in many States of Nigeria.
Multinationals, from Diageo to Kimberly-Clark, have fled Nigeria, taking 20,000 jobs along with them. The reason? An unfriendly business environment, erratic power, and suffocating bureaucracy. Meanwhile, the “japa” syndrome drains the country of doctors, engineers, and skilled professionals, leaving critical sectors in manpower ruination.
Security: A Government in Denial
Despite allocating N6.11 trillion to defence in 2025, Tinubu’s security chiefs have failed spectacularly. Boko Haram, ISWAP, bandits, and newly emerging terror groups in Sokoto and Kwara continue their reign of unchecked violence and impunity. Plateau and Benue State remain blood-soaked battlegrounds, while the military struggles to protect even its own bases from attacks. The Government’s hollow assurances – “terrorists are no match for our troops”- are an insult to grieving communities and their hapless victims.
Ethnic Favouritism and a Divided Nation
Beyond policy failures, Tinubu has exacerbated Nigeria’s fragile unity, by stacking key institutions with his ethnic Yoruba appointees. All eight of Nigeria’s most powerful positions—Central Bank, NNPC, Police, Army, Customs, EFCC, and others – are now held by Yorubas, a historic imbalance that fuels ethnic tensions and magnifies the fault lines of a deeply divided nation. Critics, including voices from his own party, warn that this lopsidedness undermines national cohesion and sets a dangerous precedent.
Conclusion: A Government Adrift
Tinubu’s midterm report card is one of broken promises, and worsening suffering. His reforms, praised by vampire and blood sucking international bodies like the IMF, have yet to translate into tangible relief for Nigerians. Instead, his administration oscillates between denial and deflection – APC Governors may trumpet “vindication”, but the streets tell a continuously different story.
With two years left in an era of unprecedented bungling blunders, Tinubu has a choice: course-correct with genuine reforms, fiscal discipline, and inclusive governance – or double down on the same blunders, while eyeing re-election in 2027. For now, Nigerians endure a midterm of misery, led by a Government that governs for itself and its cronies, not the Nigerian people it swore to serve.
Haruna Yahaya Poloma, Abuja
Tinubu’s Two Years: Getting Government Budgeting Right to Break the Jinx of Bad Governance
Emeka Ejikonye
Paradox of the Existing Intellectual Disposition
Right from October 1, 1960, when Nigeria gained independence from British colonial rule, our government budgetary practice has remained a mere symbol, rather than rational activity driven by independent, well-thought-out locally-defined and socially-realistic solutions to our development problems. To be sure, the ideological and institutional foundation of budgeting in Nigeria, as in most African and other underdeveloped countries of this world, are founded on prescriptions forced down the throat of the governments by the Bretton Woods institutions of the International Monetary Fund (IMF) and World Bank. First, is the 19th century rule by scholars of the Public Administration Movement in the United States of America for the separation of ‘planning’ from ‘budgeting’ in governance. This issued from their prescription for the separation of politics from administration to breed the unrealistic clear line of distinction between the formulation of public policy and its execution. Of course, we now know that this dichotomisation is not feasible, because the two activities inevitably operate as inalienable integral parts of the same bureaucratic structure of governance. Unfortunately, the prescription led to budgeting becoming fixated on the cost-accounting skill of developing a line-itemisation of the objects of government expenditure.
Then, the British economist, John Maynard Keynes, came along to muddle this ideological fallacy, with his argument that government can achieve the aims of governance by controlling the flow of money in circulation. This forced the rule for the concentration of government on the management of ‘economy’ and relegating ‘society’ to the background.Certainly, there is a difference between economy and society. While the first focuses on how to maximise public finance and satisfy the bodily needs of human survival, the second is more concerned with the overall improvement in not just the bodily, but also emotional wellbeing of the citizenry. It is no wonder that the average economist thinks more in terms of ‘efficiency’ without regard to ‘effectiveness’. Finally, at the turn of the 1990s, the IMF and World Bank forced our governments in the underdeveloped countries, not just Nigeria, mind you, to adopt the so-called Medium-Term Expenditure Framework (MTEF), aimed at discarding the failed medium-term development planning for short-term stabilisation efforts.
However, several questions must agitate the mind of any discerning and keen observer. First, how come the developed countries that control the IMF and World Bank, do not practice this institutional separation of planning from budgeting in their governance systems? Second, what was it that prompted President Franklin D. Roosevelt ‘FDR’ to relocate the government budgeting agency (then known as Bureau of the Budget (BOB) and later renamed Office of Management and Budget (OMB)) from the Treasury Department (our equivalent of the Ministry of Finance) to the Office of the President in 1939? Third, why did President Richard Nixon discard Programme Budgeting (also known as “Planning Programming Budgeting System”) to adopt Management-By-Objectives (MBO) in 1973? Fourth, what was it that motivated President Ronald Reagan to abandon Zero Base Budgeting (ZBB) for Central Policy Review immediately after assuming office in 1981? Finally, what role did the budgetary reform that President Bill Clinton initiated in the early ‘honeymoon’ period of his Presidency, play in generating the over twenty million new jobs that translated into the historic greatest improvement in the quality of livelihood of the US citizenry ever? What is it that hinders successive Nigerian Presidents and Governors from adopting these very dynamic precursor initiatives? Is it just plain greed and avarice, or their failure to think outside the box and adopt disruptive ideas? I just wonder.
The Caricature of Public Budgeting in Nigeria
Government budgetary practice in Nigeria, operates as a mere caricature of the very phenomenon. Over the years, it has progressively degenerated into a massive annual ritual of State-capture by the privileged tiny minority at the given moment in time through the appropriation of our common wealth into their private pockets. Just the other day, I watched an official of BudgIT on television, lament that over eleven trillion Naira was smuggled into the 2025 Federal Government budget by members of the National Assembly. We have come to dub this very nefarious annual practice by our Federal Legislators by the very ingenious name, “budget padding”. On the part of the Executive, this same official of BudgIT noted the delay by the Government budgeting agency, that is, the Budget Office of the Federation, to post the Federal Government budget on its website for public access and scrutiny. And, when the agency eventually did, rather than just simply posting the pdf version that would be easily accessible for analysis, it posted pictures of each of the over one thousand pages of the document. Of course, this is simply a deliberate ploy to confuse the Nigerian public by creating opaqueness. Another keen observer of governance in Nigeria, noted how officials of this same Budget Office of the Federation will usually go about searching for real estates of over half a billion Naira to buy immediately after Mr President signs the budget into law. Today, we do not actually know which budget law that is in operation. The Government tells us that the 2024 budget is still in operation, alongside that of 2025.We are not even sure if we are done with the 2023 budget. It is an outright state of confusion. In the midst of the abject penury of the vast majority of our citizenry, this scenario is very disheartening, to say the least.
The Way Out
Invariably, national development will continue to elude us as a people, until the day our Federal and State Governments get our budgetary practice right. As the single most important activity of governance, it is the only means of achieving the optimal performance of our elected officials in public service delivery, to eradicate the mass poverty and hardship that is currently crushing our citizenry. I have always said it to the hearing of anyone who cares to listen that the most critical and fundamental reform of governance in Nigeria today is budgetary reform. We must transform the phenomenon from its existing restricted view, as the instrument for managing the financial-resources of governance to achieve the fiscal policy objectives of government. On the contrary, for budgeting to play its rightful role in our governance, it must operate broadly as the instrument for managing the institutional-resources of governance to achieve the public policy objectives of government. In this latter sense, the primary concern is with the efficient and effective deployment of human and material resources, towards the optimal performance of government in public service delivery. This is the only way to not only lay the solid and durable foundation inevitable for good governance, but also nurture the public service delivery effort to sustain our social advancement. Without this reform initiative, all efforts by our governments at national development will continue to be driven by chance or luck, and eradication of the mass poverty bedevilling our citizenry will remain daydreaming.
The onus for initiating this budgetary reform at the Federal level of our governance, lies squarely with the incumbent President and principal officers of the National Assembly at the particular point in time. Since the beginning of this democratic Fourth Republic, Chief Olusegun Obasanjo, the late Alhaji Umaru Musa Yar’Adua (may God continue to rest his soul), Dr Goodluck Ebele Jonathan and Alhaji Muhammadu Buhari failed to seize the glorious opportunity of writing their names in the indelible sands of time by leaving this positive legacy. Today, the ball is squarely in the court of Asiwaju Bola Ahmed Tinubu. Will he seize the golden opportunity, or also allow it to slip by just like his predecessors? The choice is his to make.
At the State level of our governance, the responsibility for initiating this budgetary reform rests with the Governors and leadership of the Houses of Assembly. My prayer is that Providence will bring us a set of elected officials with the requisite sense of empathy, sincerity-of-purpose, strong-will, steadfast-resolve and, above all, patriotic fervour to do this right thing for the Nigerian populace: #BudgetaryReformFirst.
Emeka Ejikonye
