The Grand Illusion Of Reform – Nigeria In Reverse Under Tinubu - Politics - Nairaland
Nairaland Forum › Nairaland General › Politics › The Grand Illusion Of Reform – Nigeria In Reverse Under Tinubu (241 Views)
| The Grand Illusion Of Reform – Nigeria In Reverse Under Tinubu by malali(op): 5:30am On Aug 01, 2025 |
In the annals of modern Nigerian leadership, few administrations have been cloaked in more rhetoric and reformist bravado than that of President Bola Ahmed Tinubu. Yet, beneath the trumpet of “renewed hope” lies a painful paradox , the common Nigerian is worse off than at any point in the last decade. Let us pause and compare, not with emotional fervor but with factual sobriety: Buhari’s Quiet Stewardship: • Maintained forex subsidy to stabilize the naira, despite economic strain. • Oil subsidy continued as a cushion for the poor. • COVID-19 ravaged the global economy under his watch, yet Nigeria did not drown in foreign debt. • Buhari’s government, despite its critics, managed to curb runaway borrowing and left behind a semi-stable debt profile. He may not have been flashy. But he paid Nigeria’s bills without mortgaging its future. Tinubu’s Shock Doctrine: • Removed forex subsidy, leading to a naira that has collapsed to historic lows. • Removed fuel subsidy, but failed to reinvest savings into infrastructure or welfare. • No global pandemic, no war on Nigerian soil, no oil crash — yet the economic pain is deeper. • Massive devaluation without guardrails, and no plan to manage the inflationary aftershocks. And worst of all, he borrows like a sailor on shore leave. • In 13 months, the Tinubu administration has applied for and secured more loans than Buhari’s first four years combined. • Just this week, the Senate approved a fresh $21 billion loan, adding to a list that now reads like a global credit orgy. • The promise to “generate revenue” has flatlined. What we now have is a loan economy on life support. “We will block leakages and boost revenue,” he said. But from the exchange rate policies to non-supervised state allocations, all we see is leakage, leakage, leakage. States are getting more money from FAAC than ever before, yet some governors still refuse to pay the minimum wage. There is no oversight, no benchmark, just a blind pipeline of cash with no conscience. So we ask: How Do We Pay Back These Loans? Will it be from non-oil revenue that doesn’t exist? From a manufacturing base that’s been hollowed out by power cuts and currency crisis? Or will it be from Nigerians’ future — the unborn children, mortgaged before they even open their eyes? 1 Share
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| Re: The Grand Illusion Of Reform – Nigeria In Reverse Under Tinubu by givedemwotowoto: 5:33am On Aug 01, 2025 |
Nigerians watched for 8 years as Tinubu and his supporters flipped from "Buhari Is The Best" To "Tinubu Is Cleaning Buhari's Mess". That script won’t again this time. Tinubu is a one term President (OTP) and no amount of propaganda by his handlers will save him. |
| Re: The Grand Illusion Of Reform – Nigeria In Reverse Under Tinubu by malali(op): 5:37am On Aug 01, 2025 |
givedemwotowoto:Anticipated INEC collusion and manipulation, will not stop us from speaking out. |
| Re: The Grand Illusion Of Reform – Nigeria In Reverse Under Tinubu by chatinent: 5:39am On Aug 01, 2025 |
Buhari was a failure! A very terrible entity! Tinubu is also a failure! About the loans... Their family members will be used to offset the loans. Let's use the Abuja drunk for an example. I recently watched a clip of the irrelevant son of drunk being escorted heavily by armed security details. This is the same boy whose father allocated looted property too, from looted public funds. And in the end, you want me to pay for their luxury? Whether by direct and indirect taxes, I WON'T! |
| Re: The Grand Illusion Of Reform – Nigeria In Reverse Under Tinubu by malali(op): 5:45am On Aug 01, 2025 |
chatinent:How did Buhari fail ? He paid oil subsidy for everybody....not discriminating rich or poor He paid Forex subsidy for everybody....not discriminating rich or poor He managed a world crisis (COVID)....Despite lower oil prices about $35/barrel, despite having to feed the whole country. (Its now $70/barrel under Tinubu,double Buhari's revenue generation with zero subsidy payments) He didn't borrow as much as Tinubu is borrowing right now. Compare that to Tinubu's administration. |
| Re: The Grand Illusion Of Reform – Nigeria In Reverse Under Tinubu by Mrfixitt(m): 6:40am On Aug 01, 2025 |
Tinubu and his APC goons can only deceive gullible people with their yeye reforms not smart folks like us. We will send him packing in 2027 1 Like 1 Share |
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