By Emmanuel Ugwu
It may seem too early to write off
the presidency of Muhammadu Buhari. He is in the second year of his four year
tenure. That amounts to a reasonable mathematical chance to change the
narrative and finish well. But if the law of inertia counts for anything, the
remainder of Buhari's time will prove to be the slow motion fulfillment of an
ineluctable tragedy.
*Buhari |
Granted, there is a context to the pervasive
misery in Nigeria today. Buhari inherited a
scorched earth. He was bequeathed a landscape of ruins. He was bound to face
the challenge of building with rubble.
Jonathan had the good fortune of seeing high crude price for the
greater part of his 6 years-long tenure. He grossed a steady windfall of
petrodollars. But he sanctioned the merciless looting of state funds.
As a candidate, Buhari appeared to recognize that revamping the
economy had to be a priority. He made it a go-to talking point. He hammered on
it at the hustings, always checking it off with the promise to fight corruption
and arrest insecurity.
But in his earliest days in office, the economy was the last thing
on his mind. The leisure of globe trotting was first. And he started to work
his planes as soon as possible.
When Nigerians, alarmed that the intoxication of power may have
made Buhari frivolous, asked him to sit down and work, he plagiarized
Obasanjo: My world tour is a necessary charm offensive. Nigeria is
a pariah state. I am traveling to reconcile Nigeria with
the world!
While he lived in the air, Buhari left Nigeria without direction and
without a cabinet. He took six months purporting to look for the beautiful
ones. Even in a fiction, that's too long a period to run an amorphous
government after a disruptive election that saw an opposition candidate win.
Naturally, that eternity of vacuum was filled with speculations
and rumors. The market place was paralyzed. Investors and businessmen got edgy,
confused and afraid.
Because they were made to hedge their bets and wait forever for
the new administration enunciate its economic policy, some took their capital
elsewhere. The financial system reacted. And an epidemic of job losses began.
Buhari had been advised to take drastic measures in his first days
in office. Former British PM Tony Blair -whose autobiography, A Journey: My Political Life, detailed his
action-packed first 100 days in office -suggested that
Buhari's first 100 days would define the shape of the rest of his tenure. Blair
counseled Buhari to leverage his massive goodwill and abolish fuel subsidy and
take hard decisions to spur economic recovery.
Buhari demurred. He said the argument for the removal of fuel
subsidy didn't sound rational. He would not sanction a decision that would the
increase inflation and suffering.