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The Tinubu Administration at Two: Taming Old Monsters and Entrenching a Prosperous New Order
By Mohammed Idris, fnipr
President Bola Ahmed Tinubu assumed office with a singular mission, to break the stranglehold of dysfunction on Nigeria and to replace this with systems that stand out for their efficiency and productivity, and their ability to inspire and renew collective hope.
That vision for a new Nigeria is playing out as a re-enactment of his 1999 vision for a new Lagos, and I think that it is very important, in understanding this consequential presidency, to rewind a bit and locate its roots in an equally consequential governorship.
The Lagos he inherited was a megacity in dire need of taming, ridden with poor infrastructure, urban filth, and buffeted by an encroaching ocean. He set about imposing a sense of order and vision on this state of affairs, creating an enduring subnational standard for public sector and governance reform in Nigeria.
New institutions were created, talent was hired, and bold ideas were very much welcome. No aspect of governance was left behind – judiciary, land use, mass transit, waste management, revenue collection, security — and a standout dedication to true federalism.
The revolutionizing of revenue collection was especially critical, because at the end of the day, even the boldest of visions without financing amounts to no more than a pipe dream.
It is crucial to affirm that in making the transition from running Lagos to leading Nigeria, the President has not assumed that Nigeria is merely a bigger version of Lagos. He came to office fully aware the immense and unique complexities of the country he’d been elected to run.
But—and this is the very important point—it has been clear that there’s a timelessness to certain leadership principles, that makes them repeatedly applicable and enduringly impactful.
As with the stint in Lagos, his first order of duty in the Presidential Villa was to tame seemingly intractable monsters. In this case, the twin monsters of petrol and forex subsidies.
Not because the concept of subsidies is a terrible one, no, but instead because these two subsidies stand out uniquely for how especially inhibiting and damaging they have been for our national aspiration to be a continental and global model of economic growth, prosperity and efficiency.
President Tinubu alluded to this in his speech during the recent visit to Anambra State, saying: "Like we tamed the Atlantic in Lagos, many of these monsters have been tackled: petroleum and forex subsidies have been tamed; macroeconomic stability has returned within predictable bounds; tax reforms are on the way, etc. These reforms are difficult, yes, but inevitable."
His conviction about the necessity of difficult reforms was certainly honed from Lagos. Any leader that wants to be truly transformational knows that decisions cannot be based only on how popular they are with the public.
There are difficult things that need to be done, but which will go on to usher in unimaginable benefits. So, first the taming of monsters, and then the deployment of a new order to replace the old.
First the dismantling of dysfunction, and then the laying of new foundations of growth, of investment and jobs, of economic stability and attractiveness. He has accomplished all of this as a man of his own, listening and then deciding; beholden to no person or cabal.
Nigeria now has a brand new tax regime, the product of a wholesale revision of existing laws. A new omnibus infrastructure program – the Renewed Hope Infrastructure Development Fund – building on the last decade and cementing the legacy of the All Progressives Congress (APC) as Nigeria’s most infrastructure-focused party.
A new landscape of social welfare and investment, through initiatives like the presidential grants and loans scheme, the Nigerian Education Loan Fund, the presidential CNG initiative, the Consumer Credit Corporation,
The common thread here is that these initiatives all have the ordinary people of Nigeria at their very heart: artisans, small businesses, students, transporters, civil servants, everyday people building their lives honestly and diligently.
The President’s overriding vision is to put more money in the pockets and businesses of Nigerians, while also helping them attain dreams of a better life.
The policy reforms and fiscal stability are paying off, and investors are paying attention. In 2024, oil and gas investors announced over five billion dollars in Final Investment Decisions (FIDs) for landmark new deepwater projects in the country.
As we speak, in the health sector, there are no fewer than 22 new large-scale private sector pharmaceutical manufacturing projects valued at over $5.5 billion, across the country, powered by the President’s reform agenda.
Supporting these projects is an inflow of multi-billion-dollar investment funding from multilateral partners like Afreximbank and the European Investment Bank.
A look at recent company results shows that a difficult corner has been turned, and there’s a bouncing back that cannot be ignored.
The President is giving it all it takes – transforming Nigeria one bold policy or legislation at a time.
A new Electricity Act to empower subnational governments and the private sector to wholeheartedly get involved in power generation, transmission and distribution.
Three new presidential directives to create unprecedented fiscal incentives for oil and gas investment. Four new tax bills to completely remake the fiscal landscape, empower subnational governments, and reduce existing burdens on Nigerians.
Five new Development Commissions, in the spirit of equitable and decentralized national development. A new and much-praised Investment and Securities Act, to promote digital innovation while strengthening investor protection.
The list is endless, but the principle is simple and consistent. Across every sector, reform and renewal, the goal is to deploy keys that unlock endless possibilities.
The idea is that every decision must open up opportunities for Nigerians to thrive and prosper. Every new dollar of investment means new jobs and more disposable incomes.
These results will not always be felt immediately, but that does not make them any less significant. It is in looking at what the Lekki Peninsula has today become—Africa’s fastest growing industrial and real estate corridor—and in connecting this with the pioneering work of the then Governor Tinubu, that it becomes undeniably clear that yesterday’s seeds are today’s forests.
The seed planting continues, to guarantee tomorrow’s forests for coming generations.
There is also still a lot of work ahead, and the President himself would be the first to acknowledge this. The fight against inflation needs to be sustained, the various social programs need to be massively scaled up to touch many more lives.
In the area of security, more needs to be done, by the Federal Government working very closely with States and Local Governments.
What should never be in doubt is the President’s determination to do everything that needs to be done, and to do them methodically and strategically.
The next two years of this first term will see a strengthening of the foundations, and renewed effort in the construction of the superstructures that sit on that foundation.
And we will also, along the way, strive to do even better in boldly telling and showing the multitudes of emerging success stories, from every corner of the land.
Happy 26th Anniversary to Nigeria's Fourth Republic, and Happy second year anniversary to an audacious and visionary President.
Mohammed Idris is the Honorable Minister of Information and National Orientation of the Federal Republic of Nigeria
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