Why Tinubu’s ministers must prioritise revenue generation
The inauguration of Ministers to kick start work came forth last Monday, 24th August, after about 84 days of the Tinubu led Government. The time span also implied delay as the case used to be for costitutioning of the cabinet. The inauguration came after deep seated politicking for the appointments. The nomination and the screening from the Senate later saw the President on Monday inaugurate 45 ministers who were cleared by the Senate into his cabinet. Immediate past Governor of Kaduna State, Mallam Nasir El-Rufai with two others namely, former Deputy Governor of Taraba State, Senator Abubakar Danladi; and Stella Okotete, were the only nominees of the President who were rejected by the upper chamber for security reasons.
Following their inauguration, the Ministers have made mouth watering promises, none of whom have failed to assure Nigerians that they would be at the top of their jobs to deliver the mandate given to them. On his part, the burden on the President is to see that his Ministers deliver the job for which Nigerians have elected him. This would be a subject of deep concern, particularly as Nigerians may not find it suitable to listen to excuses. It is reminiscent how part governments blamed previous ones for lack of performance, particularly how the immediate past Muhammadu Buhari led government spent all time blaming the Peoples Democratic Party (PDP) led government as reason for the failure to fulfill promises when Nigerians began to question the worsening of conditions under the government.
The need for cabinet members heading one ministry or the other to be at the top with their roles cannot be underestimated. Their failure is tantamount to the failure of the government. On Tinubu’s part, his charge to the Ministers was for them to commence work immediately, charging them they must not fail given the promises his government have made to Nigerians.
Tinubu who said he will hold the newly sworn-in Ministers accountable during his address to them at the Conference Centre of the State House, Abuja, had said, “I know you and I delegate this authority, but the greatest number of Nigerians are highly expectant of delivery, accountability, and transparency. Nigerians expect that you will act with integrity, dignity, and deliver. I will hold you to that standard we all promised Nigerians.
“It’s all about a great team, and I believe we have them here. It is a high honour to be chosen to serve as a minister in the Federal Executive Council of our beloved republic, and with such a high honour comes tremendous responsibility. In this moment of abundant promise and peril in equal measure, all of you who have been sworn in have been called to distinguish yourselves.
“Your assignment begins immediately. As your country honours you today with this call to service, you must each work to make your self worthy in the eyes of God and all our nation’s people. Your highest obligation is to restore public faith in government so that our people can once again believe that the right hands in government can be a positive force for transformation and a vehicle for the collective progress of this country.”
Meanwhile, it is important to put matters clearly with the prevailing situation. Of utmost importance in present times has been the outcry over revenue shortfalls. It has become clear that for the Government not to further worsen the woes of the Country’s economy, the subject of revenue generation must be well managed and fastened for better performance. Presently, the servicing of debt with over 94 per cent of revenue generated is gradually revealing Nigeria’s debt profile may be headed for an unsustainable posture. Hence, the question of resorting to more borrowing may be a dangerous trap for the present government, a situation that clearly implies if the administration would be prudent, it must be deeply cautious in obtaining loans.
For the foregoing, it is only rational that top for the present government is the subject of key attention to revenue generation. Hence, the job for Ministers who have portfolios to Ministries with key bearing on revenue generation, dictates they must not only be creative, but must also be assertive, penetrative and assiduous in their jobs. This is particularly important for Ministers overseeing such Ministries bordering on sectors as Solid Minerals, Agriculture, Marine and Blue Economy, Gas and Petroleum, among others, for which attention have been capitalised, to develop their potentials in a bid to diversify the economy from its sole base on crude oil.
None of the Ministers on these portfolios in concern, after their inauguration on Monday, have thrown up assurance to work towards the end of boosting revenue flow. For instance, Minister of Marine and Blue Economy, Adegboyega Oyetola, on Monday promised to come up with practicable ways of ensuring that the inland rivers, lakes, and waterways are utilised for cargo shipment and passenger transportation. Oyetola who said that the blue economy is estimated globally to be worth more than $1.5 trillion annually, noted that considering the size of the Nigeria’s blue economy, the Country should be a significant player in the sector to contribute to the revenue and also create job opportunities.
“Our oceans cover more than two-thirds of our planet’s surface, holding the key to sustainable economic growth, environmental preservation, and technological innovation. As we look ahead, my vision is rooted in the responsible management and utilisation of our marine resources to benefit not only our economy but also the health of our planet. Experts say the Blue Economy is estimated to be worth more than $1.5 trillion per year globally. Therefore, given our size as a country and considering the size of our blue economy, we should be a significant player in this sector, to contribute immensely to the revenue generation of our country and also provide jobs for the unemployed.
“We must come up with practicable ways of ensuring that our inland rivers, lakes, and waterways are well utilised, both in terms of cargo shipment and passenger transportation. This can be done by embarking on a holistic dredging campaign for most of our strategically important inland waterways to make them navigable for the passage of goods and people,” he had said.
Oyetola, the immediate past governor of Osun State, also said he would promote better inter-agency cooperation and coordination between the Nigerian Maritime Administration and Safety Agency, the Nigerian Ports Authority, and the Nigerian Inland Waterways Authority.
“As someone with a strong private sector background, we shall promote greater private sector inclusion while fostering greater efficiency through specialisation and the effective delineation of core duties between the units. We must seize this opportunity to create positive change, leaving a lasting legacy for generations to come. These are my thoughts as I join you today. I believe that when we are able to do all these and more, we would have contributed our quota towards realising Mr President’s renewed Hope Agenda in the Marine and Blue Economy sector,” he had added.
In another instance, the Minister of Solid Minerals, Dele Alake, one of the key sectors Nigeria is looking forward to develop for economic diversification, had said: “Now if you all can sit down to analyse the global trend of economic development, you would note that the hydrocarbon that is the oil is fading out and the world is moving towards alternatives like gas, electric cars, and the rest. So, what is the next economic growth factor? It is solid mineral. Given the nature of this sector to our economic growth and vitality of this country which is dear to the heart of Mr President, it’s just very apt and proper for him to send me here because he knows and trusts that I have a demonstrable sense of responsibility and courage to drive the agenda, that is why I am here. We are going to drive that agenda with the full cooperation of everyone.
“In my world, where I come from, you know you are in the civil service and have your rules and regulations but in my world, there are no strictures, I have been in the civil service as a commissioner before. My modus operandi is results, I really don’t care how you get me the results as long as you use legitimate means to get the result. I am going to set an agenda with focus and objectives, we would get the results. Now we are not going to be allowing civil service structures and strictures to stifle us from creativity and flourishing, what we need is attitudinal change.”
In another instance, Minister of State Gas, Petroleum Resources, Obongemem Ekperikpe Ekpo, assured that the hardship currently experienced in Nigeria will soon be over as he would work to ensure full advantage of gas reserves lying dormant over the years are optimised.Obongemem noted that the ingenuity of Mr. President in creating the Ministry of Gas Resources which has about 280 trillion standard cubit feet, translating into $800 billion, is an indication that the President is poised to explore other Nigeria’s rich resources to the benefit of the nation’s economy beyond crude oil. He observed that his study on the sector shows that only a paltry 1.7% have been utilised from the Gas reserve of the nation and called on critical stakeholders to partner with the ministry he oversees for the full utilisation of the Gas, Petroleum sector.
For key sectors still in their fledging state to develop productively to opimise their potentials for a robust economy, the role of the Ministers for which Ministries bear supervising role remain important. Hence, it is pertinent that the Ministers with the relevant portfolios play their role creatively, with the strength of the needed political will to drive the workings of the sectors for optimal productivity. This is essential as the Country now gropes with the reality of revenue shortfalls which has informed the cycle of resort to borrowings, a negative option taken on the wrong side with poor execution culture, which has left the Country with the burden of debt servicing.
