Nigeria's President Tinubu Directs Ministers to Revive Economy, 'Turn Country Around'
11:06 29.08.2023 (Updated: 18:45 29.08.2023)
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The administration of Nigerian President Bola Tinubu held its inaugural Federal Executive Council (FEC) meeting with newly appointed ministers at the council chambers of the State House in the capital, Abuja, on Monday. During the meeting, the leader set out strategic priorities for the ministers and performance management standards.
President Bola Tinubu has given the Federal Executive Council (FEC) a marching order to implement policies aimed at reviving the economy and improving the welfare of Nigerians.
Addressing the first 45-strong FEC meeting of his administration, the Nigerian leader emphasized the urgency of the task before the administration, noting that it is enormous and requires the best of all those charged with responsibility. In particular, the president called for a groundbreaking, home-grown fiscal strategy aimed specifically at uplifting the well-being of Nigerian households.
"We must find a home-grown re-engineering of our finances, manage our resources and let the economy work for the people of this country. There are so many things some cynics will say are impossible, but in your dictionary of service, everything is possible and must be possible. We have the talents; we have the level of intellectual capacity to turn this country around," he stressed.
Noting that the administration's priority areas have been set out in its economic programs, he urged them to be prepared not to fail because, he said, there is no impossibility in the dictionary of serving the people and underperformance will not be tolerated on his watch.
He also assured the ministers that he is ready to listen to their concerns and suggestions, reiterating that he is willing to cooperate and "open the doors for consultative governance."
"I am ready to listen. Like I said to the Nigerian Bar Association (NBA) on Sunday, I am ready even for corrections, only God is perfect. Don’t be afraid to make decisions. That's the burden of leadership," he told ministers.
During a press briefing after the meeting, the ministers explained that it was mainly focused on the administration's plans "to turn the economy around." According to Wale Edun, Finance and Coordinating Minister for the Economy, Tinubu's administration inherited a struggling economy with an unacceptably high unemployment rate and an inflation rate of 24%.
"Per capita has fallen steadily, inflation is at 24%, unemployment is high, you know they are rebasing the way in which it’s calculated. Either way, it is high and youth unemployment is even unacceptably high, these are the key metrics that we have met," he said.
Edun said the FEC reviewed eight priority areas, including food security, poverty eradication, economic growth and job creation, and set targets to be achieved over the next three years. He elaborated that the president tasked the ministers to further refine the targets and within weeks begin to implement policies and programs to "make things better for all Nigerians."
Rigorous Standards
During the meeting, Tinubu also set a non-negotiable standard for accountability and excellence among the ministers. According to the Nigerian leader, cabinet positions are not "fixed-term" appointments, but are earned and kept by demonstrating measurable results.
The presidency confirmed that Tinubu would not hesitate to sack any member of the cabinet on the grounds of incompetence and underperformance. Ajuri Ngelale, special advisor to the president on media and publicity, stated that Tinubu had set timelines for the ministers, adding that failure to meet the targets could get anyone fired.
"President Bola Tinubu is someone who has the results [...]. He’s ready to fire a minister at the drop of a dime if he is not getting what he wants. Absolutely," Ngelale said.
President Tinubu also barred federal government officials with no specific role from attending the United Nations General Assembly (UNGA) in New York City, United States.
The leader's move, according to Ngelale, is part of a broader effort to reduce the cost of governance in Nigeria. The president directed the Ministry of Foreign Affairs to freeze the processing of visas for all government officials wishing to travel to New York for the activities of the UN General Assembly. He reiterated that "government expenditure must reflect the prudence and sacrifices made by well-meaning Nigerians across the country."
