By Abayomi Odunowo

When Nigeria adopted the Structural Adjustment Programme (SAP) in 1985, the echoes of its ramifications began to reverberate through every sector of the economy. As foreign companies exited en masse, the nation spiraled into a crisis rooted in economic mismanagement and a fundamental failure to build a productive economy. The grim reality is that we have spent an estimated $1.5 billion daily subsidizing fuel, endeavoring to artificially prop up the Naira against the dollar. What was the endgame of such ill-fated strategies? Did we believe that endless financial gymnastics could buoy a sinking ship? The ensuing consequences have laid bare the painful truth: our evasive tendencies have led us to the precipice of national disaster.

The trajectory became even more alarming as internal corruption and insecurity began rendering vast swathes of the nation ungovernable. Billions were looted from the coffers of the state, epitomized by the Dasuki scandal, yet we remained collectively blind to the consequences. When Boko Haram sought to overrun extensive regions in Borno, claiming dominion over four northern states, we expected merely a temporary aberration in our peace. Similarly, the escalating conflicts between Fulani herdsmen and farmers in Benue should have spelled the warning for imminent chaos. Did we not contemplate the futility of our neglect? The emergence of banditry, the paralysis of the Southeast economy by Biafra agitators, and the rampant vandalization of pipelines have culminated in a catastrophic erosion of both public trust and national wealth. Did we truly think that such a confluence of misfortunes would not yield dire repercussions?

These issues, deeply entrenched in Nigeria’s socio-political fabric, did not materialize overnight. They are the harvest of decades of negligence, corruption, and systemic failures that have been allowed to fester. Can we genuinely ascribe all this turmoil solely to the current administration? The question warrants a nuanced discussion.

As Nigeria grapples with the dire consequences of economic mismanagement, the recent shifts under President Tinubu’s leadership have sparked both criticism and debate. The elimination of fuel subsidies has stripped bare the façade of financial wellness, revealing the deeper malaise that has plagued the nation for years. We now find ourselves at a crucial juncture, where vulnerability and adversity demand reflection and action. Yet, as we endure this hardship, one must ask: who among the cacophony of critics possesses the intellectual rigor, global financial insight, and fortitude to make the kind of daunting decisions that Tinubu has dared to enact?

This is a pivotal moment—an inflection point that juxtaposes pain with necessity. It is easy to castigate leaders for decisions that ignite discomfort, yet it requires exceptional courage and vision to confront hard truths and embrace the transformative processes essential for recovery. The question remains: are we ready to face the reality of our circumstances? Are we genuinely prepared to rise to the occasion, understanding that the journey forward will demand sacrifice and unity?

Today, we stand amidst economic disarray, the era of financial cushioning is definitively over. The pain we endure is not merely hardship; it is a price we are compelled to pay for decades of neglect and mismanagement. As we forge ahead, it is imperative to recognize that the solutions will not emerge from superficial band-aids but from profound systemic changes rooted in accountability, transparency, and revitalization of our productive sectors.

While the current milieu of hardship feels insurmountable, there lies a silver lining: just as gold must undergo fire to emerge in radiant splendor, Nigeria, too, must navigate this crucible of challenges to reclaim its rightful place on the world stage. We are at a crossroads; the urgent call for introspection and decisive action is paramount. We can no longer afford to point fingers while remaining immovably entrenched in our own inertia. It is essential to coalesce as a nation, wielding our collective strength and determination to rebuild.

In doing so, we must embrace a steadfast commitment to truth, reform, and resilience. The path may be agonizing, but it is a journey we must undertake to secure a brighter, more prosperous future for generations yet to come. Are we ready to embrace this truth? Only time will tell, but the opportunity for renewal is before us, waiting for the courage to act.

Otunba Abdulfalil Abayomi Odunowo
National Chairman AATSG
Mobile: +2349053535322
AATSG Media.

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