An In-Depth Look at Policies, Achievements, and Challenges of President Tinubu’s Administration Since May 2023

An In-Depth Look at Policies, Achievements, and Challenges of President Tinubu’s Administration Since May 2023

 

By Prince Fatai Adewusi

 

Since taking office on May 29, 2023, President Bola Tinubu has led Nigeria through a period marked by significant achievements and notable challenges. His administration’s performance has been a topic of both praise and criticism, reflecting the complexities of governing a diverse and dynamic nation like Nigeria.

Key Policies and Their Impact
President Tinubu’s administration has implemented several key policies aimed at revitalizing Nigeria’s economy and promoting sustainable development. The National Economic Revitalization Plan (NERP) is one of the standout initiatives, focusing on economic diversification, enhancing agricultural productivity, and fostering industrialization.

Another major initiative is the Digital Nigeria Initiative, which seeks to leverage technology for economic growth and improved governance. According to the National Bureau of Statistics (NBS), these policies have collectively contributed to a 5% GDP growth by the third quarter of 2024 (NBS, 2024).

Notable Achievements:
Infrastructure development has been a hallmark of Tinubu’s tenure. Projects like the Lagos-Ibadan railway have significantly reduced travel time and spurred economic activities along the route.

On the international stage, Tinubu has strengthened Nigeria’s diplomatic ties with global powers. Bilateral agreements with nations such as China and Germany have fostered trade and investment, enhancing Nigeria’s global standing.

Ongoing Challenges:
Despite these successes, Tinubu’s administration faces ongoing challenges, particularly in addressing insecurity and corruption. The insurgency in the North-East remains a critical issue, with attacks by Boko Haram and other militant groups. Transparency International’s Corruption Perceptions Index indicates minimal progress in tackling corruption (Transparency International, 2024).

Economic Policies and Tax Reforms
The economic policies of the Tinubu administration have sparked both praise and controversy. The Tax Reform Bill, designed to broaden the tax base and increase government revenues, has faced significant opposition. Critics argue that it places a heavy burden on small and medium-sized enterprises (SMEs), potentially stifling growth. However, proponents assert that it is essential for funding critical public services and reducing dependence on oil revenues.

Despite these debates, the administration has achieved some economic stabilization. Inflation rates have dropped from 18% to 13% over the past year (Central Bank of Nigeria, 2024). Additionally, foreign direct investment (FDI) has risen by 7%, indicating growing investor confidence (UNCTAD, 2024).

One of the most contentious aspects of Tinubu’s economic policies has been the removal of fuel subsidies. While the government argues that this measure is necessary to reduce fiscal deficits and redirect funds towards more productive sectors, it has had a significant adverse effect on the average Nigerian. The immediate aftermath saw a sharp increase in fuel prices, which in turn led to a rise in the cost of transportation and goods. The ripple effect of this policy has seen the cost-of-living skyrocket, making basic commodities less affordable for many Nigerians. Despite these challenges, there is hope that the recent operationalization of new refineries within the country will eventually stabilize fuel supply and reduce prices, bringing some much-needed relief to the populace.

Government Spending and Infrastructure Development:
Tinubu has focused on reducing waste and improving efficiency in government spending. Efforts to streamline government agencies and cut unnecessary expenditures have received mixed reactions. While some praise the fiscal discipline, others criticize the resultant job losses.

Infrastructure remains a cornerstone of Tinubu’s agenda. Significant projects such as the Abuja-Kaduna highway upgrade, the completion of the Second Niger Bridge although initiated and inaugurated by the previous administration and the ongoing 700Km Lagos-Calabar Coastal Highway project are expected to enhance connectivity and stimulate economic activity across Nigeria.

Tackling Insecurity, Unemployment, and Corruption:
Insecurity is one of the most pressing issues for the Tinubu administration. Despite increased military operations and investments in security infrastructure, the threats of insurgency, banditry, and kidnapping persist. Experts recommend a holistic approach that addresses underlying causes such as poverty and unemployment.
Unemployment rates have seen a modest decline, dropping from 33% to 29% (NBS, 2024). Initiatives to create jobs, particularly in agriculture and technology, have provided some relief. However, sustainable employment opportunities for Nigeria’s large youth population remain a critical need.

Corruption continues to undermine public trust and development efforts. While the administration has prosecuted high-profile cases and established stricter oversight, critics argue that deeper systemic changes are necessary.

Sports and Anti-Terrorism Efforts:
President Tinubu has also invested in the sports sector, enhancing infrastructure and youth development programs. These efforts aim to harness the potential of Nigerian athletes and promote national unity through sports.

In the fight against terrorism, the administration has increased funding for security agencies and improved intelligence-sharing. Despite these efforts, the persistent threat of terrorism requires ongoing and adaptive strategies.

ECOWAS and National Character Provisions
Under Tinubu’s leadership, Nigeria has played a pivotal role in the Economic Community of West African States (ECOWAS). The administration has actively participated in regional stability matters and economic integration efforts, reinforcing Nigeria’s leadership in West Africa.

The administration has also adhered to the National Character provisions, ensuring fair representation of all ethnic groups in government appointments and policies. This approach aims to foster national unity and mitigate ethnic tensions.

Traditional Rulers and Institutional Independence:
Recognizing the important role of traditional institutions, the Tinubu administration has involved traditional rulers in governance through their respective states and their governors. This inclusion is seen to maintain social order and preserve cultural heritage.

Furthermore, Tinubu has emphasized the independence of key institutions such as the National Assembly, Independent National Electoral Commission (INEC), Economic and Financial Crimes Commission (EFCC), and Independent Corrupt Practices Commission (ICPC). Ensuring the autonomy of these bodies is vital for a functioning democracy and the rule of law.

Primary Healthcare, Education, and Foreign Trade:
In the healthcare sector, the administration has focused on primary healthcare, providing the needed continuous budgetary support for the National Primary Health Care Development Agency to improve access to basic services. According to the World Health Organization (WHO), these initiatives have led to a 10% increase in vaccination rates and better maternal health outcomes (WHO, 2024).

Education has also been a priority, with efforts to enhance the quality of basic education and increase school enrolment rates. The expanded School Feeding Program now benefits over 8 million children nationwide (UNICEF, 2024). The Student Loan Initiative (Nigeria Educational Loan Fund) is a program established by the Federal Government of Nigeria to break financial barriers in higher education. Through the provision of these interest-free loans, the administration is fundamentally reshaping the educational landscape.
The Student Loan Initiative is in perfect alignment with the government’s vision for education to be accessible to all Nigerians.

This initiative, embodies this vision as it strives to eliminate financial constraints and open the door to academic pursuits, enabling students to shape their own future. The Loans initiatives facilitate financial access to Higher Education, collaborate with stakeholders for Impact, enable equal opportunity for all Nigerian Student and promote education for National Development.

On the foreign trade front, Nigeria has signed multiple trade agreements to boost exports and attract investment. The African Continental Free Trade Area (AfCFTA) agreement has been particularly impactful, with Nigeria’s exports to African countries increasing by 15% (AfCFTA Secretariat, 2024).

Conclusion:
President Tinubu’s administration since May 2023 has seen a mix of achievements and ongoing challenges. While significant progress has been made in areas like infrastructure, economic stabilization, and healthcare, issues such as insecurity, unemployment, and corruption continue to present formidable obstacles.

Moving forward, it is essential for the administration to maintain a balanced approach, leveraging its successes and addressing its shortcomings with equal determination. The road ahead will require sustained commitment, innovative solutions, and collaborative efforts to fully realize Nigeria’s potential.

Prince Fatai Adewusi is from Ijoun, Ogun State.

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