Tinubu’s First Year Lays Groundwork For Development, Agbakoba Asserts

Tinubu’s First Year Lays Groundwork For Development, Agbakoba Asserts....KINDLY READ THE FULL STORY HERE▶

Former Chairman of the Nigerian Bar Association (NBA), Dr. Olisa Agbakoba, has praised President Bola Tinubu’s first year in office, stating that it has laid the groundwork for significant progress across various sectors. He noted that while the right policy choices have been made, implementation remains a challenge………..CONTINUE READING

During a press conference on Friday at his office in Apapa, Lagos, Agbakoba assessed the 365 days of the Tinubu administration, highlighting notable progress in areas outlined in the “Renewed Hope” campaign manifesto.

According to Agbakoba, achievements include the removal of the fuel subsidy and the floating of the exchange rate to save costs and unify foreign exchange markets, despite short-term pains. Other successes mentioned were the approval of a committee on modalities for establishing State Police, investment in military equipment and food security measures, and the signing of a new Electricity Act that allows states and private players to participate in the power sector.

Additionally, the administration secured funding for major infrastructure projects, including seaports, railroads, and power plants. It positioned Nigeria as a stabilizing force in the Economic Community of West African States (ECOWAS), boosting foreign direct investment inflows to over $15 billion. The rehabilitation of refineries and incentives for new private refineries were also noted.

However, Agbakoba emphasized that to fully realize Tinubu’s transformative vision and deliver on campaign promises, the government must focus on key areas such as security, power, and an emergency industrial revolution. He suggested that addressing these critical issues would release kinetic energy and accelerate progress. He also called for an increased pace of implementation, drawing a parallel to former U.S. President Franklin D. Roosevelt’s decisive actions during his first 100 days in office.

Agbakoba recalled that Roosevelt’s “New Deal” policies addressed the Great Depression with unprecedented urgency, scale, and specificity, creating millions of jobs, launching massive public works projects, and establishing new institutions that reshaped the American economy and society.

“President Tinubu’s first year in office has laid the groundwork for significant progress, with notable achievements in various sectors. The right policy choices have been put in place, but implementation has been the challenge,” Agbakoba stated.

“To fully realize his transformative vision and deliver on his campaign promises, it is crucial for the government to focus on key areas that will make the most impact, such as security, power, and an emergency industrial revolution. If Tinubu can solve these critical issues, it will release kinetic energy and accelerate progress.

“Furthermore, there is a need for the government to increase its pace. The current pace of implementation is slow, and the nation wants to see the same urgency and decisiveness demonstrated by FDR during his first 100 days.

“President Tinubu should lead from the front, setting the tone and driving the execution of his agenda with unwavering commitment,” he added.

Agbakoba further stressed the importance of establishing a strong foundation of national order, unity, peace, and stability as prerequisites for sustainable development. He called for engaging with ethnic groups, the National Assembly, and diverse stakeholders to resolve fundamental questions about Nigeria’s political identity and arrangements for unity.

On the need for a comprehensive Economic Recovery Plan, Agbakoba referred to recommendations from the OAL’s 2024 policy report. He stated that Tinubu has the opportunity to implement a New Deal-style economic recovery plan, involving targeted reforms and sector strategies aimed at revenue generation, job creation, infrastructure development, and GDP growth in areas such as maritime, aviation, space, financial services, oil and gas, mining, agriculture, and manufacturing.

“If implemented effectively, this could generate N100 trillion and over 4 million jobs,” he concluded

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