As the President-elect, Asiwaju Bola Tinubu, takes the oath of office as Nigeria’s 16th President today, May 29, Nigerians look forward to quick actions from him in the areas of the economy, security, fuel subsidy and other critical sectors.
Politics Nigeria understands that Tinubu was declared the winner of the February 25 presidential election, and he will be sworn in by the Chief Justice of Nigeria, Olukayode Ariwoola, at Eagle Square, Abuja, today.
Though Tinubu’s victory is being challenged by the Labour Party’s candidate, Peter Obi, and the Peoples Democratic Party’s Atiku Abubakar, respectively, at the Presidential Election Petition Court, he would despite their petition take over from the outgoing President, Muhammadu Buhari in a glamorous inauguration ceremony billed to have 300 guests.
The inauguration will also be broadcast live to millions of Nigerians at home and every other part of the world.
In preparation for the inauguration, the authorities have tightened security in Abuja with the deployments of soldiers, policemen, undercover operatives and counter-terrorism units at strategic locations and public facilities, including hotels where invited guests were accommodated.
Ahead of the transition of power to the president-elect, scores of representatives of foreign governments, diplomats and heads of international organisations have been trooping into Abuja since Sunday, May 28.
Against the backdrop of the challenges facing the country, economic players, including the Nigeria Employers’ Consultative Association, Nigerian Economic Summit Group and the Manufacturers Association of Nigeria admonished the president-elect to tackle inflation, stabilise the exchange rate and ensure the removal of fuel subsidy within his first 100 days in office.
Speaking with The PUNCH in Lagos on Sunday, the Director General of NECA, Mr Wale Oyerinde, said his group expected Tinubu to put together his economic team within the first 100 days.
He noted that the incoming administration should be able to create a blueprint for reviving the refineries and removing fuel subsidies.
Oyerinde said, “We expect that they would have shared definitive economic philosophy that they will use to run the country a definite economic philosophy.
The NEC Director-General further said the new administration must build a consensus around its economic philosophy and get the buy-in of all Nigerians.
Oyerinde highlighted the critical roles of the private sector in moving the nation forward, stressing that the next administration must define the sector’s roles in its economic plan.
A facilitator with the NESG, Dr Ikenna Nwaosu, who observed that Tinubu was yet to unfold his economic blueprints, urged him to unite Nigerians.
He noted, “The man has not unfolded any economic blueprint, but the most important part is that he has to unite the country. As he rises above the partisan nature of politics and checks the inflation and exchange rate, they are rising too fast.
‘’The inflation rate, exchange rate, debt to GDP rate and oil subsidy; he can handle them in the first six months. These are the main issues, every other thing is additional.”
Economy parlous – MAN
According to a document by MAN’s Director-General, Segun Ajayi-Kadir, the association said that the economy was in a parlous state and needed a quick re-jig.
MAN said the new President should set specific deliverables to be accomplished within the first 100 days in office.
The association also urged the new government to direct the Central Bank of Nigeria and ensure that it complies with the prioritisation of foreign exchange to the productive sector, particularly to manufacturers to enable them to import raw materials, spares and machinery that are not locally available.
The group urged the government to direct the Nigerian Electricity Regulatory Commission to admit all qualified applicant companies into the Eligible Customer Scheme to allow them to access power as stipulated in the Electric Power Sector Reform Act, 2005.
