As a guest speaker at Plenary Session V of the 70th Anniversary of the Nigerian Bar Association, Ibadan Branch, alongside Dr. Surajudeen Ajibola Basiru and Dr. Segun Sowunmi, I had the privilege to address the critical state of the nation, organized in honor of the late Arakunrin Oluwarotimi Odunayo Akeredolu, CON, SAN, former Governor of Ondo State, and former NBA President. The session was chaired by Honourable Justice Bayo Taiwo on behalf of Chief Charles Akinlolu Olujimi, SAN, former Attorney-General of the Federation and Minister of Justice, with Ondo State Governor, Mr. Lucky Orimisan Aiyedatiwa, as Special Guest of Honour. Mr. Musibau Adetunbi, SAN, served as the able moderator. Though I could not attend the session in person due to unavoidable circumstances, I wish to share key points from my presentation.

I began by acknowledging the absence of the esteemed Arakunrin Akeredolu at such a pivotal moment in our national history. His contributions would have been invaluable in discussing the state of the nation, especially as a man who was always unafraid to speak truth to power. I may not be able to fill his shoes, but I endeavored to address the crucial issues impacting us all.

The Economic Agenda of the Tinubu Administration

As is often the case with new administrations in Nigeria, President Bola Ahmed Tinubu has laid out an ambitious set of promises under his “Renewed Hope” agenda. These promises—ranging from food security and poverty eradication to economic growth, job creation, and improving security—are the core pillars of his administration. However, it is crucial to scrutinize whether these pledges can ever be realized, given the troubling start to his leadership.

Prior to assuming office, President Tinubu was clear about his intention to continue with the policies of his predecessor, President Muhammadu Buhari. This continuity was hardly a surprise, considering Tinubu’s prominent role in supporting Buhari during his tenure. Indeed, it is impossible to assess Tinubu’s administration without referencing Buhari’s legacy, as many of the same challenges persist.

As laid out in Chapter 2 of the Nigerian Constitution, the government’s primary responsibility is to ensure the security and welfare of its people. Tinubu’s agenda, therefore, should have been rooted in these constitutional directives. But the reality on the ground paints a different picture. Policies like the sudden fuel subsidy removal and the floating of the national currency lack the foundational planning necessary for their success, and they contradict the government’s purported goals of food security and job creation.

A Government Adrift: Security, Economy, and Job Creation

Section 14 of the Constitution clearly states that the security and welfare of the people should be the “primary purpose of government.” Under President Tinubu, however, security has deteriorated alarmingly, with ongoing violence in the North and the South-East, the rise of terrorist groups like the Lakurawa sect, and worsening banditry. Inflation has surged to 34%, eroding any hope of achieving food security or alleviating poverty. The promise of economic growth and job creation remains hollow as multinational corporations such as P.Z. Cussons, GlaxoSmithKline, and Unilever exit Nigeria, worsening unemployment and fueling the “Japa Syndrome,” where Nigerians flee in search of better prospects abroad.

In addition, the government’s failure to address the electricity crisis is another critical blow to the economy. Despite multiple collapses of the national grid, the administration continues to subsidize the inefficiency of power distribution companies rather than implement meaningful reforms. The instability of the naira has only compounded the problem, discouraging investment and crippling the economy.

The Political Elite vs. The People

The so-called “Renewed Hope” agenda has, instead of benefiting the masses, served to enrich the political elite and economic rentiers. The removal of subsidies on fuel, electricity, and the exchange rate has done little to improve the lives of ordinary Nigerians. Instead, it has created a situation where basic services are now out of reach for many, while political elites continue to thrive. We now live in a country where Nigerians are forced to buy their own currency, with ATMs running dry and POS operators exploiting the situation.

In conclusion, President Tinubu’s administration has failed to live up to the promises of the “Renewed Hope” agenda. Rather than providing security and welfare, it has deepened the crises of unemployment, insecurity, and economic instability. As we continue to grapple with these challenges, it is clear that Nigeria’s future remains uncertain under this leadership.