Politics
President Tinubu urges hope in 2025, Nigerians see ghost of 2024 hardship

Most Nigerians seem to dismiss President Tinubu’s New year speech and the promises he made, preferring to wait and see what 2025 will bring as the harrowing experience of 2024 still nags their mind. The last Christmas celebration must have been the worst for most people, as it lacked the usual feast and merriment in most homes across the nation.
With a single average-sized chicken selling for as much as N25,000, and a 50kg rice for over N100000, and a bulb of onions at N500, 2024 was a bitter taste in the mouth. All of this because of the two reform policies of fuel subsidy removal, and the unification of the naira exchange rate by President Tinubu.
In the speech, Tinubu gave his administration a pass mark for its performance in 2024, while promising to continue to serve Nigerians diligently and wholeheartedly.
He said his administration is on the right path to building a great Nigeria, while encouraging citizens to be patriotic in their dealings as he called for a stronger national allegiance.
The president also appealed to Nigerians to shun side distractions that are capable of undermining the nation’s growth and development, noting that while the nation continues to stay on the right course to prosperity, some persons “still see things through the prisms of politics, ethnicity, region and religion.”
“We are on the right path to building a great Nigeria that will work for everyone. Let us not get distracted by a tiny segment of our population that still sees things through the prisms of politics, ethnicity, region and religion,” he said
Tinubu also stressed his administration’s commitment to facilitate significant economic reforms for sustainable growth.
”We will continue to embark on necessary reforms to foster sustainable growth and prosperity for our nation. I seek your cooperation and collaboration at all times as we pursue our goal of a one trillion-dollar economy. Let us stay focused and united,” Tinubu said
“As far-reaching and foundational as our reforms are, they can produce the desired outcomes only through shared common values and identities, and unconditional love for our country,” the president urged.
The president also assured Nigerians of his resolve to boost food production and reduce inflation on food and drugs to 15 per cent, while strengthening the economy in 2025.
“Economic indicators point to a positive and encouraging outlook for our nation. Fuel prices have gradually decreased, and we recorded foreign trade surpluses in three consecutive quarters.
The president promised to reduce inflation from its current high rate of 34.6 per cent to 15 per cent, but failed short of explaining how he planned to achieve the feat.
“In this new year, my administration will further consolidate and increase access to credit for individuals and critical sectors of the economy to boost national economic output.
“To achieve this, the Federal Government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises, and is expected to start operations before the end of the second quarter, adding that it would be a partnership of government institutions.
The president expressed optimism that this initiative would strengthen the financial system, expand credit access and support under-served groups such as women and youths.
Old Wine in New Bottle
The new year is typically a time to take stock of activities in the proceeding year, and make projections for the future. The year 2024, which saw the inflation close at 34.6 percent in November, while food inflation crossed 40 percent earlier in the year, on the back of rapid fall of the naira from N700 in the proceeding year to the dollar to over N1,7000 to the dollar in the open market, even as fuel price rise from N180 to as much as N1200 in some states, is one that many Nigerians will remember for the hardship and suffering it brought.
The president, to his credit, admitted some of the difficulties, but for many people, his promises for the new year, amount to blowing hot air, as they are not supported by concrete plans of action.
“I do not expect any miracle in 2025,” said Anthony Chidi, Abuja based legal practitioner. “History shows that things have only gotten worse in the country as the years roll on. And given where we are, I don’t see anything that suggests to me that 2025 will be better than 2024. At least, not in this Tinubu regime. He keeps talking about reforms, but his reforms have only brought pain and suffering.”
Recent months have seen slight reduction in fuel prices, which the president touted as evidence of his reforms yielding results, but it is only credit to the fall in the global price of crude oil from upwards of $80 per barrel to $70+ in recent months.
Most experts say the president’s promise of reducing inflation rate to 15 percent in 2025.
Mr. Bismarck Rewane, Managing Director, Financial Derivatives Company Limited, only stopped short of saying the president is lying.
“The target (15% inflation rate for 2025) is an aspiration by the president. The reality is that we think inflation could reduce from approximately 35% to somewhere like 27% or 25%. But a 15% rate of inflation is very bullish and aspirational, and we are free to have our aspirations. However, we deal in the world of reality, and in the world of reality, we see more of 27% to 25%. I would rather bet on that than bet on much more optimistic scenarios”
Reacting both the Peoples Democratic Party (PDP), and the Conference of United Political Parties (CUPP), argued that it failed to inspire confidence and paints a gloomy picture of what lies ahead of Nigerians in 2025.
The PDP in its response, said the entire address confirms its fears that the President has since lost touch with the realities being faced by Nigerians as a consequence of his administration’s policies.
National Publicity Secretary of the PDP, Debo Ologunagba, who said this in a statement in Abuja, noted that, “The PDP asserts that President Bola Ahmed Tinubu’s 2025 New Year Day address further confirms its position and that of most Nigerians that there is no hope in sight for the nation under his administration.
“The Party describes the speech as a self-satisfying posturing, which further validates the notorious fact that the Tinubu-led APC administration is completely disconnected and unconcerned with the hardship Nigerians are going through as a result of the ill-implemented policies and gross mismanagement of resources under the President’s watch.
On its part, the CUPP said President Tinubu’s speeches, which have so far not been matched with corresponding action, are pushing more Nigerians into excruciating poverty.
National Secretary of the CUPP, Chief Peter Ameh, said “2024 was a very harsh year for most Nigerians because of the impulsive decisions taken by the government. You can’t even hide it anymore, when the President says he has dealt with corruption there are no facts to support this assertion. Let’s look at the corruption perception index, Nigeria ranks 143rd out of 149 countries.
“The President promised to ensure we till more land for agriculture annually to reduce food inflation, well that has not happened. It’s all been talk and more talk no action this has pushed poverty to 56 per cent of our population roughly 129 million of our citizens are today living below the poverty line.
“I also heard Mr President give an example of his friend who could not longer put fuel in his five Rolls Royce or something and is now driving a Honda, but has he given a thought to those, who used to drive Honda, Camry and other low fuel consumption vehicles?
“With his single pronouncement of the removal of subsidies, the cost of public transportation jumped by 300 per cent.
“The cost of debt service jumped from N87 trillion to over N130 trillion under his watch.”
Local Govt Autonomy
The year 2024, regardless, saw significant developments in the political sphere. The Tinubu administration has fought and appears to have secured financial autonomy for local governments, even if some analysts argue that the idea of local government autonomy is an aberration, as according to them, it is the business of states to create local administrative units in an ideal federation.
“While I love and do not believe that any government should take local government funds, may I say to you very clearly this evening that you cannot take the baby from the mother? There is nobody that can become council chairman without a governor. Anybody telling you otherwise is wasting his time,” Ayo Fayose, former Ekiti State governor said in response to the July September Court judgment affirming local governments’ right to receive monthly allocations directly from the federation account.
However, a senior lawyer, Chief Olisa Agbakoba, SAN, saw it differently. According to him, financial autonomy will free the local governments from the undue influences of the governors.
“It’s a landmark decision that frees the constitutionally prescribed local government from the stranglehold of their state governors. One can only hope that the financial autonomy granted to local governments will be used to benefit the communities,” he had said.
Meanwhile, after series of back and forth, governors across the 36 states of the federation have indicated their readiness to implement the financial autonomy granted to the local governments by the Supreme Court in July.
Thus, they have directed their chairmen of local government areas to open their accounts for the direct disbursement of their funds from the Federation Account Allocation Committee (FAAC).
Business Hallmark gathered that the governors’ decision to finally embrace the autonomy for the third-tier of government was reinforced by President Bola Tinubu’s assurance that his administration was not out to take over the control of local governments from them through the apex court judgement.
Tinubu stated this in Lagos when the governors led by Vice President Kashim Shettima paid him New Year homage on Wednesday last week.
While receiving the governors, Tinubu stressed their critical role in driving Nigeria’s development and prosperity, saying their leadership at the subnational level was central to achieving food security, economic prosperity and rapid national growth.
“You are the most important link to Nigeria’s prosperity and development. The federal government accounts for about 30 to 35 per cent of the allocated revenue; the rest comes to you. The agricultural value chain depends on you. You own the land, and the job is in your hands,” Tinubu told the governors.
“We will not fight within us. I will drive the change; you control your local governments. You can restore hope by effectively fulfilling what the people expect at the grassroots level.
However, people are wondering why the federal government went to court for interpretation, if the president does not want to implement the decision.
Minimum Wage
The new minimum wage of N70,000 is also a positive feat accomplished in 2024, a culmination of months of back and forth between the federal government and the organized labour. Yet workers say inflation has since eroded it. Even then, many states are not ready to implement it. In fact, some states did not pay the N30,000 almost a decade ago.
“We have yet to receive the new minimum wage,” a local government worker in Enugu State told Business Hallmark on the condition anonymity for fear of victimisation. “But even now, if you check the price of food in the market, there’s no difference between N30,000 in early 2023 and N70,000 now.”
Meanwhile, so far 32 states and the Federal Capital Territory (FCT) have complied with the 2024 National Minimum Wage Act, with some states paying more than the N70,000 minimum, at least a deal for workers reeling from high cost of living.
It is no good news, however, for workers in Cross River, Zamfara, Katsina and Imo states, as the four states are yet to implement the new minimum wage. Expectedly, agitations will heat up in the said states this year.
Constitutional Review
The ongoing constitution review is another significant political issue in 2024, which is expected to get to a head at the end of the current year. But given the penchant for sections of the country to resist structural changes to the polity, as has been witnessed with the tax reform bills, it is unlikely to achieve significant results.
“We need to tell ourselves the truth: Constitutional amendment won’t go anywhere. Nigeria needs a new constitution anchored on true federalism, unicameral legislature, devolution of powers, regional autonomy and a return to parliamentary system of government.
“All the problems eating up the land flow from the inadequacies of the unitary structure. We have deceived our selves for so long. All the reports of past National Conferences should be revisited and an Assembly of patriotic Nigerians brought together to draw a new people’s constitution anchored on level playing field for all, justice, equity and fairness.
“Restructuring the polity has become a necessity. Delay is unhelpful. From the frightening unemployment, to the runaway inflation, to the insurgency in the North East and unprovoked banditry in the North West; insecurity all over the country and the agitation in the South East, all point to the great need to urgently review our journey so far,” said lawyer Anthony Chidi.
After a slow start in 2024, the push to amend the 1999 election is expected to dominate political discuss in 2025, with state police, state creation, single term tenure for president and governors, rotational presidency, local government autonomy and regionalism billed to dominate the debate.
Members of the Senate Committee on Constitution Review led by the Deputy Senate President, Senator Jibrin Barau, in collaboration with the Policy and Legal Advocacy Centre (PLAC), had recently concluded a two-day retreat in Kano to set the stage for the exercise, which would end in December, 2025.
And as indication of what is to be expected, members of the Senate Ad-hoc Committee were already divided on some of the issues during their different engagements with newsmen at the sidelines of the retreat.
While the Senators unanimously agreed to include full autonomy for local governments in the nation’s constitution, they expressed divergent views on the issue of state police, which governors have surprisingly supported, and regional government.
Senator Opeyemi Bamidele; senate leader; a former Chief Whip of the red chamber, Senator Ali Ndume; Chairman, Senate Committee on Finance, Senator Sani Musa; Senators Abdulfatai Buhari, Osita Izunaso and Ned Nwoko, in their various submissions insisted that full autonomy for local governments was long overdue. But the senators were however divided on the issue of state police and regional government.
As expected, while senators from southern Nigeria, supported the idea of regional government, their northern counterparts vehemently opposed it. State police, however, had a number of northern senators in support.
Senator Sani Musa who backed the idea, argued that “when we are talking about State Police, every state in this country is facing one insecurity or the other and I believe that if we look at the issue of State Police, it’s good for us.”
But Senator Ali Ndume kicked against it, insisting that what the country needed was to increase the manpower of the police and improve their welfare for effective policing, noting that state police would be abused by the governors.
Meanwhile, both Senators Ned Nwoko and Osita Izunaso, argued that the creation of Orlu State in the South-East and Anioma State in the South South geopolitical zones were long overdue.
On regional government, the Senate Leader, Senator Opeyemi Bamidele, assured Nigerians that issue of regionalism was not part of the ongoing review of nation’s constitution. But a senator from Bauchi Central, Abdul Ningi, told journalists that his people would never support the idea because they did not enjoy any form of development when the system of government was practiced in the First Republic.
“I have heard so much about regional government or federalism and I have heard people going about, canvassing for such ideas. For a start, no matter how you see it, the current document (1999 Constitution) is still the grundnorm. It has also stipulated how it is going to be amended.
“We aren’t going back there again! I am speaking for my senatorial district. It is either the Nigerian Federation or nothing. We can’t go along, my senatorial district will be satisfied independently with Nigeria, if that is what is required. As far as regional government is concerned, my constituency, my people aren’t for it. What we need is the reform of the current Federal Government structure and fiscal federalism because there is nothing like true federalism.”
Similarly, former Senate Leader, Ali Ndume, said the idea of true federalism was no longer fashionable because many countries in Africa had discarded it. He advocated the creation of strong institutions that would enhance good governance and curb corruption and insecurity.
The Senate ad-hoc Committee on Constitution Review had disclosed that the National Assembly will produce a new draft bill on further amendments to the 1999 constitution in December, 2025.
Various speakers at the event, wanted the proposed reviews to focus on Local Government Autonomy, State Police, women rights and the specific roles for traditional rulers in order to tackle issues of insecurity, among others.