2024 REVIEW: 5 Controversial Policies Implemented By Tinubu This Year
Since President Bola Ahmed Tinubu was sworn in as President in 2023, he has introduced several controversial policies; starting from his very first speech.
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That trend continued into 2024, as President Tinubu continued to introduce even more controversial policies that are sparking significant debate across Nigeria.
Some of these policies, which the President Tinubu administration claimed are aimed at addressing the nation’s economic and social challenges, have been widely criticized by the public, policymakers, and international observers.
This article delves into five of the most controversial policies implemented by President Tinubu in 2024, examining the justifications the President Tinubu administration has offered for them and the broader implications for Nigeria’s future.
1. Tax Reform Bills
To of this list has to be the Tax Reform Bills. The introduction of Tax Reform Bills late in the year aimed to overhaul Nigeria’s tax system, purportedly to protect small businesses from excessive taxation and address rampant tax evasion.
However, the bills faced stiff opposition, particularly from northern politicians who perceived the reforms as disproportionately targeting their region.
The controversy highlighted regional disparities and raised concerns about the equitable implementation of tax policies.
Debates ensued over the potential economic impact, with opponents fearing that the reforms could stifle business growth and exacerbate regional inequalities.
2. Change of National Anthem
Literally out of the blues and in a surprising cultural shift, President Tinubu signed into law an act readopting “Nigeria, We Hail Thee” as the national anthem, replacing “Arise, O Compatriots.”
The decision sparked widespread debate, with only very few Nigerians welcoming the return to the old anthem as a nod to the nation’s history, while the vast majority of others questioned the necessity and timing of such a change amid pressing economic challenges.
The move prompted discussions about national identity, historical legacy, and the role of cultural symbols in uniting a diverse populace.
Critics argued that the change diverted attention from more urgent issues, while supporters viewed it as a step toward reclaiming national pride.
Another controversial angle to the reintroduction of the old anthem was that the President Tinubu administration appeared to make the decision unilaterally like you’d find under military rule without proper citizen consultation.
3. Appointment of Family Members to Key Positions
Accusations of nepotism surfaced when President Tinubu appointed his son-in-law, Oyetunde Oladimeji Ojo, as the head of the Federal Housing Authority. Critics argued that such appointments undermined meritocracy and could erode public trust in the administration.
The controversy intensified discussions about governance ethics and the importance of transparency in public office appointments.
Defenders of the appointment contended that Ojo’s qualifications merited the position, but the debate underscored the need for clear criteria in governmental appointments to prevent perceptions of favoritism.
The President Tinubu administration has also been accused of favouring the President’s tribe, Yoruba, in key political appointments.
4. Removal of Fuel Subsidies
Although this policy was introduced on the first day of the President Tinubu administration in 2023, it made this list because its effects has continued to reverberate into 2024; even increasing. That coupled with the President Tinubu’s administration doubling down and justifying the policy at every opportunity makes this policy as much a 2024 policy as any other policy on this list.
When President Tinubu announced the removal fuel subsidy during his inauguration, he argued that it was economically unsustainable and prone to corruption.
The immediate consequence was a sharp increase in fuel prices, leading to higher transportation and living costs for Nigerians.
Since the removal, the price of petrol across the country has increased by almost 1,000 per cent, now selling for as high as N1,200/ltr in some parts of the country and only as low as N1,025/ltr in just one state.
At the time of the announcement, critics of the policy argued that the government failed to implement adequate measures to cushion the impact on vulnerable populations, which would have mitigated the exacerbation of poverty and economic hardship that is now rife in the country.
5. Currency Devaluation
In a bid to unify Nigeria’s multiple exchange rates and attract foreign investment, the President Tinubu administration devalued the naira; also in 2023. This has also made this list for the same reason subsidy removal did.
While the policy aimed to enhance economic transparency and boost investor confidence, it led to a significant depreciation of the naira’s value.
This in turn resulted in increased import costs, further driving up inflation and the cost of essential goods. Many Nigerians found their purchasing power diminished as a result, intensifying economic strains.
Economists remain divided on the long-term benefits of this policy, with some advocating for its potential to stabilize the economy, while others warned of prolonged hardship for the populace.
Implications and Public Response
The cumulative effect of these policies led to widespread public discontent, manifesting in protests and strikes across the country. The removal of fuel subsidies and currency devaluation, in particular, intensified economic hardships for many Nigerians, leading to a surge in the cost of living.
Labor unions and civil society organizations organized demonstrations, demanding policy reversals and greater government accountability.
The administration’s response to these protests, including the detention of demonstrators, drew criticism from human rights organizations, further fueling tensions between the government and the populace.
Economic Rationale and Critiques
Supporters of President Tinubu’s policies argue that these reforms are necessary to address structural deficiencies in Nigeria’s economy. The fuel subsidy, for instance, was seen as a significant drain on public finances, with funds that could be redirected toward infrastructure and social services.
Similarly, unifying the exchange rate aimed to eliminate market distortions and attract foreign investment.
However, critics highlight the lack of adequate social safety nets to mitigate the immediate adverse effects on the population. They argue that the hasty implementation of these policies, without sufficient public consultation or preparatory measures, has led to unnecessary suffering and could undermine the intended economic benefits.
Conclusion
President Tinubu’s tenure in 2024 was marked by a series of bold and controversial policy decisions that have had profound impacts on Nigeria’s socio-economic landscape.
Although the administration has continued to claim these policies are aimed at fostering economic stability and growth, the implementation of these policies has been met with significant public resistance and has highlighted the complexities of governance in a diverse and economically stratified nation.
The administration’s challenge moving forward will be to balance necessary economic reforms with the immediate needs of its citizens, ensuring that policy decisions are both effective and equitable.
Engaging in transparent dialogue with stakeholders and investing in social protection measures may be crucial steps toward achieving this balance and restoring public confidence in the government’s commitment to improving the lives of all Nigerians.
Source: Scooper news
