• Manufacturers, business owners, others list steps FG must take to rescue Nigeria
By Uche Usim, Vincent Kalu, Oluseye Ojo, Chukwudi Nweje, Merit Ibe, Noah Ebije and Stanley Uzoaro
As 2023 winds down amid economic hardship, insecurity, scarcity of foreign exchange, high energy costs, unemployment and inflation that has depleted the meagre income of the working-class, stakeholders have charged President Bola Tinubu on steps he must take to ensure that 2024 offers a better deal for Nigerians.
Among those who aired their views are various socio-political and cultural organisation, including Afenifere; Arewa Youths Consultative Forum (AYCF); the Middle Belt Forum (MBF); Cultural Credibility and Development Initiative, (CCDI). Economists, business owners and officials of manufacturing associations also expressed their opinions. The groups noted that the economic hardship and inflation in the country have become unbearable, even as insecurity and divisions along ethnic and religious lines threaten the country’s unity. They charged Tinubu to take necessary measures as 2024 begins, to make life worth living in the country.
They all agreed that the economy must be revamped and the inflation rate addressed to provide succour to make life worth living for the citizens. They also urged Tinubu to address the disunity and ethnic strife in the country and noted that the Renewed Hope Agenda of his administration would remain a pipe dream, if Nigerians remain under the yoke of hunger, insecurity, ethnic and religious divisions.
Economy, security, unity should be priority – AYCF
President of AYCF, Yerima Shettima noted that reviving the economy and alleviating the economic hardship faced by Nigerians; stemming insecurity and reuniting Nigerians who are currently polarised along ethnic and religious lines should be the priority of the government in 2024.
“We expect President Tinubu to look inwards and address the hardship in the country. Nigeria is in dire need of serious palliatives because the economic situation is nothing to write home about, inflation has eaten up the income of working-class Nigerians and the citizens are dying. So, we expect the government to first, find a way to cushion the effects of the economic hardship in the country, and we expect the president to do this as a matter of urgency. Secondly, insecurity in the country is worsening and the president must stem the tide. We expect Tinubu to ensure that there is synergy among the armed services so that they can tame the monster of insecurity.”
Tackle inflation, crude theft, terrorism – CPPE, Director General, Centre for the Promotion of Private Enterprise (CPPE)
Dr. Muda Yusuf, wants President Tinubu to focus on stabilizing the macroeconomic environment.
This, he said, entails bringing down inflation and stabilizing the exchange rate. He also wants the government to properly manage the fiscal deficit by cutting down on borrowing and managing the existing exposure. This, according to Yusuf, requires the CBN to reduce the Ways and Means financing so it doesn’t reoccur like Nigerians witnessed in the Buhari administration.
“We need to step up crude production, tackle crude oil theft, boost crude reserves so we can benefit from high crude prices. We need to fix our refineries so demand for FX for the importation of petroleum products will reduce. This can be achieved by working with the private sector. “This administration should deal with insecurity. Look at what happened in Plateau State. Many of the victims are farmers and they’ll want to leave their homes for safer places and this will impact on food prices.
We need to invest in intelligence gathering, State, Local government policing – Afenifere
The Yoruba apex socio-political organisation, Afenifere also suggested revamping of the economy, better security through state policing as areas Tinubu should look into in 2024.
National Publicity Secretary of the group, Jare Ajayi said: “Some of the areas that need very urgent attention are security. The happenings in Plateau and other states where terrorists not only sacked communities but murdered people depress us greatly. The perpetrators must be quickly found and made to face the wrath of the law. “The security agencies must be better equipped; prompt attention should be given to the establishment of state and local government police. “Efforts must be made to boost the economy and cut down on government spending; there is also need to create employment for the people.”
Ajayi said that despite the hardship and other challenges Nigerians faced in 2023, expectations are high that 2024 will bring succour. He added: “The past years, including the year 2023, were quite challenging but the Renewed Hope Agenda brings great expectations. The removal of fuel subsidy and the sinking value of the Naira combined to cause inflation resulting in negative impact on the people.
“We in Afenifere, are hopeful that the Tinubu administration will, in 2024, through its various policies, bring succour to Nigerians. The foundations being laid by the government would begin to bring the desired positive dividends in the New Year.”
Lives and property must be prioritised – MBF
For the MBF, Tinubu must take responsibility for the security and welfare of the citizens as required by the constitution. President of the MBF, Dr. Bitrus Pogu said indications are rife that the government has failed to check the carnage being unleashed on Nigerians, especially in the Middle Belt by terrorists backed by state actors. He said, “Section 14(b) of the 1999 constitution of the Federal Republic of Nigeria stipulates that ‘the security and welfare of the people shall be the primary purpose of government.’ Conversely the unrelenting massacre of our people in the Middle-Belt states, particularly in Plateau has shown without any vestige of pessimism that the government and security forces are complicit in the ethnic cleansing of the indigenous ethnic nationalities that are not part of the Sokoto Caliphate.”
He accused the government and security forces of complicity and shielding the autonomous Fulani community which he said is known to house all manner of weapons.
He said: “This same tactic of nurturing and fortifying terrorist camps finds expression in the Mandara hills in Borno and Alagarno where the military moved the entire residents of over 11,000 people from Sabon Gari, leaving the whole road between Biu and Dambua for the terrorists to operate freely, even collecting tolls on the highway.”
Revamp the economy, patronise made in Nigeria – CCDI
On its part, CCDI urged Tinubu to work on revamping the economy through patronising made in Nigeria goods. President of the group, Goddy Uwazurike, a lawyer noted that patronage of foreign made goods create jobs for the countries from where the goods are imported while Nigeria suffers.
He said: “The economy is in the doldrums and the president must get down to practical rescue effort. Every aspect of the economy is crying for repairs, for a pull back to the former President Goodluck Ebele Jonathan era. In other words, the monumental damage done to the economy must be repaired. This can be done by working with real industrialists and economic gurus. The one group to be avoided is the immediate past President Muhammdu Buhari economic team.
“An example of economic restoration is buying made in Nigeria products. A vehicle bought from Innoson Motors creates jobs for thousands of Nigerians but a vehicle bought from South Korea only enriches the suppliers and the workforce of South Korea.”
Give Nigerians security, economic stability, corruption-free nation – NEF
The Northern Elders Forum (NEF) wants President Tinubu to ensure security, economic stability as well as corruption-free Nigeria in the New Year.
In a chat with Saturday Sun, the Director Publicity and Advocacy/Spokesperson (NEF), Abdul-Azeez Suleiman said aside these expectations; Nigerians have other concerns that are equally important, including infrastructural development, healthcare delivery, and education reform. Suleiman said it is crucial to prioritize the immediate threats facing Nigeria, which are security and economic stability.
According to him, “Nigerians have high expectations from Tinubu, and primarily, their hopes centre around improved and guaranteed security for all. It is no longer a secret that Nigeria is facing numerous security challenges, with the rise of insurgency, banditry, and other criminal activities plaguing various regions of the country.
“Nigerians expect Tinubu to tackle the issue of insecurity decisively. This includes implementing comprehensive strategies to curtail the activities of insurgent groups, bandits, and kidnappers. The government must provide adequate support to security agencies, equip them with modern technology, and enhance intelligence gathering. The forum also demands there should be a focus on community policing, providing communities with the necessary tools to protect themselves and report suspicious activities promptly. It wants Tinubu’s economic policies to be directed towards prioritize diversification, reducing dependence on oil, and promoting sectors such as agriculture, technology, and manufacturing. Furthermore, he must outline measures to attract both foreign and domestic investments, providing opportunities for job creation and sustainable development. NEF also expects a renewed resolve in the fight against corruption.
Restructure the country – INC
The Igbo National Council (INC) said it is terribly disappointed with the administration of President Tinubu and therefore, called for the restructuring of the country.
President of INC, Chilos Godsent also asked the president to reform the power and communication sectors. He said “On the foregoing, INC expects that President Tinubu should immediately commence the restructuring of Nigeria and also stop the lopsidedness in his appointment’s amongst others.”
Free IPOB leader, Nnamdi Kanu – COSEYL
Igbo youths under the aegis of the Coalition of South East Youth Leaders (COSEYL) want the President to release unconditionally, the leader of the Indigenous People of Biafra (IPOB ) Nnamdi Kanu from detention.
President General of the group, Goodluck Ibem said: “We want the unconditionally release of the leader of the Indigenous People of Biafra (IPOB), Mazi Nnamdi Kanu from DSS custody in other to bring an end to insecurity in the South East zone.
Ibem said the incarceration of Kanu is seriously affecting the business and economy of the region as criminal elements capitalise on his detention to perpetrate crime.
He added that “We want President Tinubu to ensure that all our refineries are working in order to bring to an end importation of fuel and other petroleum products into the country.
“We want the President to revitalize our moribund industries in other to provide jobs for our teeming youths. So many of our graduates are roaming the streets without jobs which is detrimental to the nation’s growth and development.”
We want security, electricity and peaceful co-existence –Yoruba Council of Elders
The Secretary-General, Yoruba Council of Elders (YCE), Chief Oladipo Oyewole, said the council’s expectation from President Tinubu is a country where security of lives and property would be the priority of government.
“The issue of electricity should be given full attention. That should be done from low-level artisans to traders, entrepreneurs to big industrial concerns.” He told Tinubu to open all borders that were closed by the last administration as early as possible in 2024 for a better life for Nigerians.
“Any misbehaviour in respect of misappropriation of the country’s finances should be exposed and all defaulters brought to book to act as warning for others. Nigerians crave togetherness. In this regard, there should be enlightenment programmes by the National Orientation Agency (NOA) to foster such valid education.”
We expect good governance, improved economy – PANDEF
The Pan Niger Delta Forum (PANDEF), says it expects good governance from Tinubu, and that the president should work to improve the economy because it is in a very dire situation. Chairman of the forum, Sen. Emmanuel Essien Ibok, said, PANDEF expect that the dividends of democracy should be felt by the generality of the people and not only the privileged.
“We expect he should come up with the issue of true federalism and the devolution of powers to the states, so that the states should control their resources,” Ibok said.
We expect enabling business environment, policies – MAN, NACCIMA
As Nigeria’s business environment continues to deteriorate amid domestic and global headwinds, manufacturers, business owners and other stakeholders are urging the federal government to create a conducive business environment by enacting and implementing policies that will encourage businesses to thrive in 2024. Business owners have continued to lament that the operating environment has been very tough and in dire need of urgent government intervention. Unemployment, poverty and inflation are soaring while money supply, purchasing power and consumer demand are declining. The economy has continued to nosedive.
Manufacturers, MSMEs are not left out in the lamentation on the challenges and harsh business environment that have forced big companies to leave Nigeria. To this end, stakeholders have proffered that government needs to evolve policies that would boost the business climate of the country.
Amidst the numerous challenges are forex scarcity, multiple taxation, exorbitant interest rate, high-cost of business operating environment, smuggling, insecurity, energy crisis and epileptic power supply, among others.
The Manufacturers Association of Nigeria (MAN), in a report, appealed to the government in the New Year to restore the sector to an enviable position in the global business environment and in turn propel an inclusive growth of the economy.
The manufacturers hope that the government will facilitate the formal service sector to widen tax net and avoid multiple imposition of taxes on the manufacturing companies; deploy means to reduce unemployment and boost productivity of the manufacturing sector by encouraging local sourcing of raw materials, improving infrastructural developments, resolving all credit and forex-related challenges, ensuring implementation of the Executive Order 003 and imposing cost-reflective electricity tariff and energy prices among other expectations.
Frank Onyebu, former chair of MAN, lamented that the gains expected from the removal of fuel subsidy and the liberalization of the foreign exchange market did not materialize, noting that these policies created much suffering without the expected benefits mainly because the government has not invested the dividends of these policies in a positive way. Onyebu expressed the view that much of these benefits have gone into wasteful expenditures and corruption. “The manufacturing sector, like the rest of the economy, has continued on this downward trajectory. The multiple challenges of infrastructural decay, insecurity, poor electricity supply, foreign exchange shortages, multiple taxation, etc, persist. These have combined to make the Nigerian manufacturer very uncompetitive, while several manufacturing firms have shut down due to the harsh operating environment and so many are just holding on by the strings.
“I expect the government to cut down on waste and corruption and to use the savings to fund infrastructure projects. I want to reiterate that the already saturated unemployment situation will be compounded without urgent intervention of government.”
Similarly, President of the Calabar Chamber of Commerce, Industry, Mines and Agriculture, David Etim noted that the year 2023 has been a very challenging year for businesses, hoping that 2024 will bring better days.
“I hope that this government will implement the ideas and policies properly because between concepts, plan and implementation there are a lot of things that go wrong. So we hope they would be able to implement it properly this year.”
On infrastructure, he called for a steady power supply for manufacturers and businesses since over 60 percent of the total overhead cost goes to energy. Etim pointed out the need for intensive and deliberate approach to large scale mechanised industrial farming for increased production to meet the growing population and address food inflation.
“If this is achieved, it will address the issue of forex scarcity. If we are producing more locally, there won’t be forex issue. It’s a secondary problem.
Daniel Dickson-Okezie, an SMEs expert and member of the Lagos Chamber of Commerce and Industry (LCCI) corroborated the fact that the manufacturing sector, like most businesses performed poorly, attributing the performance to low consumer patronage resulting from the challenging economy.
Dickson-Okezie said he would expect the government to improve the power sector and remove the bottlenecks that have clogged the wheel of businesses from performing in the outgoing year like huge import levy, multiple taxes, low access to loans for small businesses, among others.