Tinubu took over economy living on borrowed time – Gbajabiamila

Femi Gbajabiamila, the Chief of Staff to President Bola Tinubu, has said that President Bola Tinubu encountered an economy that was precariously close to collapsing upon his assumption of office.

He remarked that although the economy was deteriorating, the President had the option to engage in political manoeuvring by maintaining the fuel subsidy; however, he opted to prioritise Nigeria’s future by making the decisive choice to eliminate the subsidy.

The Chief of Staff made these comments during the Working People United Good Governance summit in Abuja on Thursday, acknowledging that this decision may have inflicted hardship and exacerbated the difficulties faced by citizens, yet he emphasised that the economy would have been in a far worse state otherwise.

While highlighting several policies implemented by the President,he said, “It is a fact that the subsidy, which consumed trillions of naira annually, was unsustainable and disproportionately benefited a privileged few rather than safeguarding the ordinary worker it was purported to protect.

“The foreign exchange regime, artificially sustained, was depleting our reserves and distorting our markets. Our options had become limited, and this President, to his lasting credit, chose the path of responsibility rather than the path of delay.

“The President had a choice of approaching governance, the actual one of two ways, either coming and governed as a politician or coming and governed as a statesman.

“Now the difference between the two is that whilst the politician thinks about the next election, a leader and statesman thinks about the next generation. Mr President decided to take the path of the latter. 

“He decided to live as a leader and think about the next generation, now we all know that these reforms exacted a real and painful cost. Prices rose, the cost of living on families already stretched, found themselves stretched further still. It will be an insult to the collective intelligence of the Nigerian people to dismiss that hardship. And this administration will never do that.

“We have never claimed that the medicine was painless. What we have insisted upon is that our country would not have survived without it, and that the duty of a responsible government is not merely to administer the medicine, but to sit on the bedside, ease the pain, and nurse the nation, or the patient, this case the nation back to health, that is the work this administration has undertaken for the Nigerian worker, and permit me now to place some of it on record. 

Also speaking, the Minister of Labour and Employment, Mohammad Dingyadi, pointed out that governance is not merely about policies written in documents or programmes announced from government offices, adding that the true measure of governance is the extent to which policies translate into improved livelihoods, increased productivity, social protection, economic opportunities, and dignity for the working people.

He claimed that the administration of Tinubu came into office with a clear understanding that sustained sustainable national development must be anchored on bold reforms, inclusive economic growth, and a renewed social contract between government, labour employers and the Nigerian people, distinguished participants, reforms are never without challenges. 

“Every major transformation requires courage, patience, sacrifice, and political responsibility. However, the objective of the federal government has remained clear to build a stronger, more productive, and more resilient economy that works for all Nigerians in the area of labor and employment,” he said.

The national coordinator of Working People United, William Akporeha, stated that President Tinubu’s administration chose courage over convenience and took the bull by the horns in removing the fuel subsidy. 

“These reforms have brought real pressure on households, workers, traders, transporters, artisans, farmers, market women, and small business owners. Food prices, transport costs, energy costs, and the general cost of living have placed heavy burdens on all of us here today, and our families. This reality cannot be denied. 

“The pain is real, the hardship is real, and the concerns of the people are legitimate. Yes, for us as working people, united for good governance, the message and understanding are clear: reforms are painful, but avoiding a reform would be more dangerous.