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Okupe, a former Director-General of the Labour Party (LP) Presidential Campaign Council, made this remark in an interview with the News Agency of Nigeria (NAN) in Lagos while reacting to the president’s broadcast.
“President Bola Tinubu’s speech has not disappointed Nigerians in that for the first time, the president clearly stated the daunting economic situation his administration met on the ground at inception.
“He also amplified the strenuous efforts made by his government to reduce the prevailing crippling and stagnating debt servicing ratio from 97 per cent of earned revenue to 68 per cent.
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“In truth, this has been the major cause of our present economic woes and sufferings.
“It is now self-evident that if the fuel subsidy was not removed, it would have been impossible for the government to function.
“And the government will not be able to meet its obligations, without continuing the profligacy of massive and sustained borrowing to fund the subsequent national budgets,” Okupe said.
According to him, the speech highlighted to Nigerians’ delight, the giant and commendable strides of achievements already accomplished by this administration within 14 months of its existence.
Okupe said: “Some of the most outstanding achievements of this administration, as contained in the speech, include “the more than doubling of the minimum wage from N30,000 to N70,000 per month.’’
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He talked about Tinubu’s implementation and commitment of more than N45 billion to the student loan scheme and the raising of the national oil production capacity to more than 1.6 million barrels per day.
Okupe also highlighted the massive funding of the Micro, Small and Medium Enterprises (MSMEs), which, he said, were the engine of economic growth of any country.
He commended the president for the provision of billions of Naira directly targeted at relieving the current hardship on the poor as well as the massive funding of various youth developmental programmes and projects.
Okupe also applauded the Federal Government for the huge investment deployed toward infrastructure and agriculture.
He said: “It is also worthy to note from the speech the government’s commitment to reduce the prevailing high cost of living and also bring down the food inflation.
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“This is through the temporary massive importation of foods and removal of tariffs and other import duties on foods, drugs and medical supplies, amongst others, for the next six months.
“I personally believe that this administration’s scorecard or performance compares very well if not better than those of many administrations before it.”
He said that the increased amount of funds that Tinubu’s administration had directly made available to the states and local governments must make Nigerians look beyond the Federal Government.
Okupe said that Nigerians must make the sub-nationalities more accountable for the huge sum of revenue inflow they receive from the federation account and other Federal Government intervention funds.
“It is pertinent that we recognise that the Federal Government revenue is shared with 49 per cent going to the Federal Government while approximately 48 per cent goes to the states and local governments leaving some three per cent for ecological funds and derivation,” he said.
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Okupe commended the president for recognising the rights of the Nigerian youths and indeed all citizens in general to protest.
He said: “It is also gratifying that the president publicly acknowledged that he has heard their demands loud and clear.’’
“I will therefore, with all humility enjoin our youths and the citizens at large to exercise patience and restraint and embrace the opportunity for dialogue which Mr President has offered.
“This long-awaited but endearing speech has rekindled our renewed hope for a brighter, better and prosperous future for all Nigerians.”
NAN reports that the president in his broadcast on Sunday on the nationwide protests reiterated his government’s commitment to addressing the concerns raised by citizens.
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The president enjoined the protesters and the organisers to suspend further protests and create room for dialogue, which he said he had always acceded to at the slightest opportunity.
The protest, which started on Thursday, crippled socio-economic activities across states as motor parks, shops, malls, markets and roads were deserted.
The first day of the protest recorded violence and looting in some states like Niger, Kaduna, Jigawa, Abuja, amongst others.
The protest planned to end on Aug. 10, is aimed at drawing the attention of the Federal Government to challenges faced by citizens.
