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There is a particular type of silence that greets progress in Nigeria: when food prices decrease, inflation slows down, the country is positively recognized, the debts paid or things start working. It is the type of silence that would prefer to maintain a good buried story that being told. But don’t make mistakes. What we see on the market today is not magical. It is the result of the vision, supported by the execution, by the TinUbu-He feature administration.
When President Bola Tinubu signed a six -month renunciation to allow the import of selected food products, it was not an act of political entertainment. Rather, it was a visionary economic strategy at stake. That singular decision broke a sign of graduates who had transformed food insecurity into an immoral company. But the strategy alone is not and cannot lower the cost of the rice. What does is when the leaders in the sector respond urgently.
Last week at the ESO Villa, home of the Presidency in Abuja, Abdul Samad Rabiu, he did not just show up to thank President Bola Tinubu. He came prepared and showed up with the results. He brought tests – bags for bags, goods for commodities – of how the policy of Mr. President met the action. The rice that once sold for N110.000 for the 50 kg bag now sells for less than N70.000. The flour is down. The corn is down. And for once, the noisiest people in the room are those that profit from scarcity, not from those to put an end to the criminal profit.
What happened here was the interruption. The Bua team, as well as other important Nigerian producers and industrialists who listened to the call of President Tinubu, understood the assignment. They flooded the market, broke the economy of acapartement and have exposed a truth that few want to say: sometimes, the real enemy is not the system. It is the silence and sabotage that follow the reform.
But Alhaji Rabiu did not stop at food. He announced a second move on the Council of the Billionarary Industrial Colleague Aliko Dangote, who was equally consequential. In an economy that is recovering from FX volatility, energy prices and imported inflation, the concrete producers have decided to freeze the price of concrete, not for everyone, but for each contractor who works in the context of the renewed projects of the government’s hope infrastructure. This is not charity at stake. This is alignment. Our two great businessmen include time and are making aware of their activities of the need to balance profitability with social responsibility.
We have Aliko Dangote and Abdul Samad Rabiu to thank for having brought the road and showing how to be worthy examples to corporate Nigeria. The truth is that the corporate environment has been quite demanding. Although so, there is also the problem of arbitrariness in the way the prices of goods and services have moved over the past two years. Many businessmen and women have exploited the Nigerians undue to engage in the canceling of prices, unduly increasing the cost of living for the middle Nigerians.
Cement is not just a product. It is the blood line of the infrastructure. Maintaining the stable price for public works pursuant to the renewed program of hope, Dangote Cement, Bua Cement, Lafarge and new competitor as Mangal Cement has not only made a corporate gesture. They bought the government’s tax room, time and momentum. Here’s how the construction of the nation appears when wearing a face of the private sector.
Become deeper. Working with Aliko Dangote, Abdul Samad Rabiu in the same spirit to put the country first, other concrete producers are collaborating with the two main engines in the manufacturing sector of concrete to revive the Cement Technology Institute of Nigeria, engaging in n20 billion every year to train craftsmen, true human ability, not power plans. We live in Nigeria, where, for a long time, growth conversations rarely touch skills. This new move is therefore a bet on people because when people are trained, projects are not only built but last.
President Tinubu mentioned something important during that meeting. He did not praise Bua, he called the actions of the private sector who bet in Nigeria during this period, “economic patriotism”. While many sit on the sidelines waiting for stability before they act, it is important when the Nigerians enter to create it.
Nigeria does not only need great men, but also needs daring moves. What Rabiu, dance and their peers are doing from freezing prices and stopping the accumulation for financing technical skills is not a corporate pr. It is the execution of policies, and it is what separates companies that extract value from those that build it.
In this phase of the transformation of Nigeria, we will need more than the latter. Our country can be satisfied with more businessmen and women who understand that the private sector is not a sport for spectators; This stability is not equipped but engineered. And that to win the trust of 250 million people, you must show, not to say, that Nigeria’s future is under construction.
And if we tell these positive stories quite strong and well, if we stop whispering good news while the bad actors shout, we could simply move the national mood from that of despair and despair to productivity.
We make this statement bold because, when the industry begins to move in this way, it is more than a simple correction of the market. It is a clear signal that the tide is becoming positively.
Our country must be a nation of strong people, full of hope and productive. While some of the challenges of the construction of the nation still persist, we must never avoid saying to those who exploit indebted to the fellow citizens that companies can still create fair and dignified profits and not overload citizens.
President Tinubu knew from his first day in office that the task of reforming and reorganizing our economy for optimal performance would not have been easy. He also knew what his place would be in history if he had refused to make the difficult but necessary decisions that would have created long -term sustainability and prosperity for the Nigerians.
Really, the last two years have placed some economic challenges for the Nigerians. As the reforms enter, macroeconomic variables are becoming positive. The tax space is becoming more robust. National and subnational debts are reimbursed, the trust of investors which increases more quickly at a higher rate than in the last decade. Nigeria is obtaining a credit rating more favorable from global institutions, the slowdown in inflation and the country is in a greater balance of the commercial position with more robust foreign reserves.
All these positive indicators indicate how effective the prescriptions of politics have been. The government is also working hard to face insecurity throughout the country with considerable progress. At the same time, the government is investing in critical infrastructures such as roads, energy, railway, ports, irrigation and social services.
Overall, the economy recorded a 3.84% GDP growth in the fourth quarter 2024, the highest in three years. The administration led by President Tinubu has restored a new wave of final investment decisions in the oil and gas sector by signing an executive order that has reduced the contract cycle and free more tax incentives. On the back of these, the economy of the hydrocarbons has been strengthened by over $ 8 billion in new investments by Shell, Exxonmobil and Totallegies.
The economic perspectives are very bright and the shared prosperity promised by President Tinubu is crystalistic. Nigeria only needs more patriotic and passionate citizens who will always work on national development and progress.
As the president has always said, the future of Nigeria will be built by the Nigerians, for Nigeria and, in fact, for Africa. Nobody, but ourselves, will build the Nigeria of our collective dream or Africa for us. The time to build together is now!
-Ography and Ajayi are senior assistants of President Bola Tinubu
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