A coalition of civil society organizations, the Socialist Liberation Movement, SLM, has backed President Bola Tinubu’s economic policies and development initiatives.
The development is coming after a former Governor of the Central Bank of Nigeria, CBN, and Emir of Kano, Muhammadu Sanusi II, criticised Tinubu’s economic policies.
Speaking at the 21st Chief Gani Fawehinmi Memorial Lecture, organised by the Nigerian Bar Association, NBA, Ikeja branch, in Lagos on 15th January 2025, Sanusi criticised the handling of the economy by Tinubu’s administration, noting that things are not being done correctly.
He also said the Tinubu government does not have credible people to explain its economic policies to Nigerians.
However, Sanusi has come under fire from the Federal Government and a section of Nigerians over the comments.
Addressing journalists in Abuja on Monday, SLM, a coalition of CSOs, said the measures being implemented by the Tinubu administration are beginning to positively impact the lives of Nigerians.
Convener of the coalition, Dr. Agabi Emmanuel, noted that the Federal Government under Tinubu has adopted a proactive approach to addressing Nigeria’s economic challenges.
According to the coalition, key policies such as the removal of fuel subsidies and the floating of the Naira have shown promise in restoring confidence in the nation’s economy.
The coalition highlighted the establishment of the Presidential Economic Coordination Council, PECC, and the Economic Management Team Emergency Taskforce, EET, noting that they have helped in strengthening Nigeria’s economic governance structures.
According to the SLM, the Tinubu administration’s commitment to infrastructure development, including roads, railways, and energy projects, will contribute to economic growth. It noted that the infrastructure projects, implemented through public-private partnerships, are expected to reduce transportation costs and improve access to markets across the country.
The coalition added that the government has made significant strides in advancing Nigeria’s digital economy with initiatives such as the Digital Nigeria Program, which focuses on broadband expansion and supporting tech startups.
The initiatives are driving innovation, boosting financial inclusion, and creating new job opportunities, the coalition said.
It added that programs like the Food Security and Agricultural Mechanization Programme and the National Agriculture Growth Scheme-Agro-pocket have the potential to increase food production and reduce dependence on imports.
“After an extensive scrutiny of some of the policies introduced by the present administration, It was observed that President Bola Tinubu has taken steps to restore confidence in the economy by reducing inflation, stabilizing the foreign exchange market, and improving fiscal management.
“President Bola Tinubu’s administration is prioritizing the digital economy, driving innovation and financial inclusion through initiatives like the Digital Nigeria program. This flagship program aims to enhance digital literacy, employability, and economic growth, while boosting GDP, entrepreneurship, and job creation.
“By investing in digital technology, empowering small businesses, and creating opportunities across sectors, President Tinubu seeks to leverage digital transformation to reduce poverty and improve living standards.
“With commitments to training three million youths in digital technology and creating one million new tech jobs, the administration is poised to unlock Nigeria’s digital potential and drive sustainable economic growth.
“The Bola Tinubu administration has implemented transformative initiatives to boost Nigeria’s agricultural sector, prioritizing food security and economic growth. Notably, the Food Security and Agricultural Mechanization Programme aims to enhance food production and reduce import reliance.
“Additionally, the National Agriculture Growth Scheme-Agro-pocket provides training, certified inputs, and subsidized irrigation equipment to millions of farmers, increasing productivity and incomes,” the coalition said.
It added that Tinubu’s declaration of a state of emergency in the agriculture sector underscores the administration’s commitment to addressing sectoral challenges.
“President Bola Tinubu’s administration has introduced transformative policies to revitalize Nigeria’s health sector, demonstrating a commitment to improving healthcare outcomes and increasing access to quality services.
“Key initiatives include the Health Sector Renewal Investment Initiative, which has mobilized $2.2 billion in external financing, and the redesigned Basic Health Care Provision Fund (BHCPF) to enhance access to essential healthcare services.
“Additionally, the National Health Insurance Authority Act (NHIAA) aims to achieve Universal Health Coverage (UHC) by mandating health insurance for all Nigerians, while programs like the National Health Fellows Programme and prioritized domestic health financing further underscore the administration’s dedication to strengthening Nigeria’s healthcare system.
“In the educational sector, President Bola Tinubu has introduced several education policies aimed at transforming Nigeria’s education sector. One notable initiative is the “#WeAreEqual” campaign, which promotes inclusive education, skill development, and gender equity.
“The government has also approved four new education policies, including the creation of a data repository, out-of-school children education, teacher training and development, and skill development and acquisition.”
The coalition stressed that Tinubu’s budget policy prioritizes national defense and internal security, job creation, macro-economic stability, investment environment optimization, human capital development, poverty reduction, and social security.
“Key initiatives include overhauling the internal security architecture, and promoting public-private partnerships to leverage private capital for infrastructure projects.
“In our considered opinion, President Bola Tinubu has embarked on a promising trajectory towards translating our hopes and aspirations into tangible realities, demonstrating a commitment to transformative governance and economic development,” the coalition observed.
“By implementing bold economic reforms, investing in critical sectors, and prioritizing the welfare and prosperity of citizens, the administration has shown determination to create a better Nigeria for this generation and the generation unborn.“
