President Tinubu on The Right Path To Accelerate Development -Arewa Professionals UK President, Yunana Shibkau

President Tinubu on The Right Path To Accelerated Development
-Arewa Professionals UK President, Yunana Shibkau

 

 

Engr. Yunana Shibkau is the pioneer National Vice Chairman, of the Alliance for Democracy (AD) and is currently, the President of Arewa Professionals in the United Kingdom. He speaks in this interview about President Tinubu’s administrative style and expectations. Excerpts…

 

 

What is your assessment of President Tinubu’s administration so far, does it herald hope for Nigerians?

Of course, Mr. President means well to Nigerians. Do not forget that President cannot say “Let there be food” for example and there will be food, a gestation period is required. He proclaimed a state of emergency on food security after noticing the high cost of food items; there are numerous factors to consider when it comes to food security, and transportation and preservation are crucial. Farmers would soon have access to funding for planting, and the narrative would have altered in less than seven months. The government has provided grains as a temporary fix. I want to appeal to Nigerians, that supporting government policies and decisions is one part of keeping it on the path of prosperity and development, while keeping track of government activities, being vigilant about them and highlighting loopholes in policies are also needed in a democracy. The President would never take any irrational decision for the happiness and prosperity of the masses. It is envisaged that Mr. President’s ambitious initiatives to reform the economy and the political system that would follow would elicit politicised responses. Let us think about the removal of subsidies for petroleum products (PMS). Aside from Mr. President, who promised Nigerians during the campaign that he would end the subsidy, Obi and Atiku also made the same pledge. Unfortunately, they disagree after the removal; how could anyone trust such political figures? Mr. President has stayed less than 100 days in office, I implore Nigerians to give him the benefit of the doubt and keep holding out hope that, after a year, his initiatives would begin to bear fruit.

 

 

 

President Tinubu has commissioned an economic team who are to advise on fiscal policies for the country, what are your expectations?

Even though I left the country for the United Kingdom many years ago, I can declare with confidence that I have been one of Mr. President’s close friends from the northern part of Nigeria since 1999 until the present. I know he has set up the fiscal policy and tax reforms committee. When you take a look at the mandate given to the committee, it shows clearly that President Tinubu is ahead of the economic crisis. lam a member of the lnstitute of Engineering and Technology (IET) UK and royal lnstitute of lnternational affairs of Chatham house United Kingdom many potential investors interested in Nigeria’s economy are of concern about multiple taxation and collection which give room for underpayment and leakages. The committee’s main objective is the
advancement of viable and cost-effective solutions to issues such as the multiplicity of revenue collection agencies, the high cost of revenue administration, the excessive burden of compliance on ordinary taxpayers, the lack of effective coordination between fiscal and other economic policies within and across levels of government and poor accountability in the utilisation of tax revenue. This is set to improve the country’s revenue profile while hoping to make the business environment more conducive and internationally competitive and the foreign investors would rest assured that the process is of the best standard. Mr. President would set up Economic Management Team (EMT) made up of members from fiscal and monetary sectors made up of Ministries of Finance, National Planning, a Special Adviser on Revenue mobilisation, the Central Bank Governor and his deputies and other experts in micro and macro economies regardless their portfolios. I remember, Ribadu as EFCC Chairman was a member of the Obasanjo economic management team, they must jointly take decisions and by so doing monitor each other. Lack of monitoring of the immediate CBN Governor, Emefiele brought the Nation to these present monetary policiesrelated matters crisis we are witnessing. With the set of these financial and economic experts of Wale Edun, the former Deputy Governor of Central Bank, Adelabu, Special Adviser on Revenue mobilisation and others, these are tested professionals, there would turn around of our economy that would manifest soon.

Nigerians are groaning under the crunch of skyrocketing foreign exchanges alongside the removal of subsidies. Do you expect a more vibrant economy going forward?

On the foreign exchange issue, the acting CBN Governor said yesterday that the bank would intervene. I think we have saboteurs within, to my understanding, it seems there is a huge amount of dollars in circulation. Why should the banks pay customers in dollars instead of the naira equivalent, since the rate is the same? I send money home through banks and the receivers collect dollars, the banks refuse to buy or exchange in naira. The same bank officials direct the receivers to black market buyers to exchange for naira. I strongly believe the economy would pick up soon. How could a country where more than 80 per cent of revenue is used to service debts, mind you we are not paying the principal amount borrowed yet and the same country is importing refined petroleum products and paying in dollars, if the President did not take that bold decision of subsidy removal, the country could have been in a more serious mess. Emefiele as the Chief Monetary Officer of the Federation disappointed Nigerians. I read recently, that between 2021 and 2022, the Central Bank of Nigeria under Emefiele spend N2.66bn to mint coins, for God’s sake, are we still spending coins in Nigeria, you should know more than me.

 

On the size of the cabinet, what can you say?

The size is not the issue in as much as they are relevant but I have an issue with the number of MDAs and its duplication. For example, what is the duty of the National Orientation agency that operates offices across the 36 states and in 774 LGs? I think such an agency should be merged with Human Rights Commission. National Emergency Management Agency and National Commission for Refugees should be merged and many others.

 

What is your response to those that are calling for a coup?

I want to admonish the military against heeding calls for them to seize control because it would be bad for the country. If the coup threat is real, the military and DSS should use their intelligence to detain and warn individuals who are asking for a change of government illegally. It has recently been done in Sierra Leone. A few coup plotters were detained. If capturing the formal institutions of state power is what all politicians are interested in, democracy would always fail. People’s attitudes will shift organically once democracy is seen as a set of principles including everyone’s shared effort.