By Solomon Dalung
I just read that President Tinubu is seeking to introduce legislation that would make it difficult for future administrations to reverse his economic reforms, and I couldn’t help but wonder what exactly is going on.
There are certain developments in the way Nigeria is being governed that should make every thoughtful citizen pause and ask some serious questions.
First, since when did economic policy become a permanent covenant that must survive changing circumstances, even when evidence shows that it is no longer serving the people?
A government is elected to make decisions in the interest of the country, not to bind the hands of those who will inherit the responsibility of governing it.
Economic realities change. Circumstances change. Even the assumptions upon which policies are built can become obsolete. Why should a future government be denied the freedom to review a policy that has become counterproductive simply because the current administration wants its economic legacy preserved?
Second, the same government that has repeatedly drawn attention to the country’s debt burden is still seeking additional foreign loans.
What exactly is the economic logic behind borrowing more when the government itself acknowledges that debt servicing is consuming more revenue than the country is generating?
Are we borrowing to create productive capacity, expand the economy, and improve the lives of Nigerians, or are we simply borrowing to sustain a system whose financial obligations are becoming increasingly difficult to meet?
There is a difference between borrowing to build a future and borrowing to postpone the consequences of poor economic management.
Third, the government has acknowledged that Nigerians are spending more than their income on food.
Think about that for a moment.
If a Nigerian household is already spending more than it earns just to put food on the table, how does that household pay for transportation, electricity, rent, healthcare, education, and other necessities?
Where is the money coming from?
Are Nigerians borrowing to survive? Are they selling their assets? Are they withdrawing their savings? Or are they simply abandoning some of their basic needs because they can no longer afford them?
And what does the government expect to happen when millions of citizens are forced to live this way for an extended period?
The real concern is that while the government appears determined to preserve its economic policies, borrow more money, and defend its financial decisions, the ordinary Nigerian is left struggling to preserve the most basic conditions of life.
And one cannot help but wonder: has Tinubu finally come to terms with the possibility that he may lose the 2027 presidential election? Is this why his administration is so determined to entrench its economic policies and make it difficult for a successor to reverse them?
Because if a government is confident that its policies are working and that Nigerians will reward it with another mandate, why should it be so anxious about what the next administration might decide?
Could this be an indication that the president himself is beginning to contemplate the possibility of an opposition victory in 2027?
Solomon Dalung Esq.
