By: Alex Aidaghese
Spending and investment remain the fastest route to economic expansion; they are the direct opposite of austerity measures of the international financial instititions. What President Bola Ahmed Tinubu (Asiwaju) is doing today mirrors what President Barack Obama did to rescue the American economy from the depths of the 2008 recession.
President Obama injected capital into Wall Street, the mortgage sector, and the auto industry, even in the face of criticism from opponents who argued the auto industry should be left to go bankrupt.
Similarly, Chief Asiwaju has pumped significant funds into the educational sector. The Nigeria Education Loan Fund (NELFUND) is already gaining momentum. This approach departs from the traditional African model of economic management, which often revolves around budget cuts, defunding education, and austerity policies that stifle growth and promote stagnation.
The ongoing investment in highways across the country is a strong example. These infrastructure projects are injecting money into the local economy, creating jobs, and opening up new opportunities for ancillary industries. This is money being spent in Nigeria, for Nigerians.
Moreover, most state governors are not just managing debt, they are paying it off and performing impressively in their respective domains. And it’s worth noting: this administration is not even two years old.
Personally, I had always hoped and agitated openly on my Facebook Wall that Governor Dave Umahi would be appointed Minister of Works, regardless of which party came into power. Asiwaju made that choice when he was elected President — and Umahi has not disappointed. His performance speaks volumes.
I’m not here to seek validation or applause. I’m here to give credit where it’s due. Despite the challenges (hunger, insecurity, and economic pressure) there is visible effort, and progress is underway. Insha’Allah, a year from now, we’ll have a better story to tell.
