Olayinka Ogunmekan, the former president of the Nigerian-Swedish Chamber, has appealed to Nigerians to exercise patience with President Bola Tinubu’s administration and its ongoing reforms. In a New Year message, Ogunmekan acknowledged the significant impact of policies like fuel subsidy removal and foreign exchange market harmonization, but emphasized the need for a long-term perspective. He argued that these reforms, though initially disruptive, hold the potential to transform Nigeria’s economic landscape and urged citizens to resist naysayers and support the president’s vision for a “Renewed Hope.”
Ogunmekan drew a parallel to the construction of a skyscraper, stressing that enduring structures require time and meticulous processes. Similarly, he argued that economic policies, unlike miracles, do not yield immediate results but require time to take effect and benefit the populace. He pointed to the increased revenue allocation to states following the subsidy removal as an early positive sign and predicted an eventual decrease in fuel prices. Furthermore, he highlighted the benefits of the exchange rate harmonization for exporters, which he believes will stimulate local production and reduce Nigeria’s reliance on imports.
Addressing concerns about the controversial tax reform bills, Ogunmekan advocated for a deeper understanding of their intent rather than immediate condemnation based on personal interests. He expressed confidence in the expertise of those who drafted the bills, asserting that their goal is to promote progress and benefit all Nigerians. Ogunmekan encouraged a proactive approach to harnessing Nigeria’s vast potential, urging citizens to seek opportunities rather than passively waiting for them. He cited the consistent presence of foreign businesspeople in Nigerian hotels as evidence of the country’s untapped potential, and likened President Tinubu’s foreign trips to proactive efforts to secure investments and partnerships for the nation’s benefit.
Ogunmekan’s message underscores the importance of patience and understanding in navigating complex economic reforms. He acknowledges the inherent anxieties associated with such transitions but encourages a long-term perspective, emphasizing the potential for sustainable growth and development. His analogy of building a skyscraper reinforces the idea that substantial progress requires time, careful planning, and a commitment to enduring the challenges of the construction phase. He believes that by resisting the urge for instant gratification and supporting the government’s efforts, Nigerians can contribute to the realization of President Tinubu’s vision for a revitalized and prosperous nation.
Furthermore, Ogunmekan’s defense of the tax reform bills highlights the need for open dialogue and informed engagement with policy changes. He cautions against dismissing these reforms based solely on personal interests and encourages a more nuanced understanding of their potential long-term benefits. He portrays President Tinubu’s foreign engagements as proactive steps to attract foreign investment and forge partnerships that will contribute to Nigeria’s economic growth. This active approach, he argues, is essential for unlocking the nation’s vast potential and creating opportunities for its citizens.
In essence, Ogunmekan’s call for patience is not a plea for passive acceptance of hardship. Instead, it is an invitation to participate constructively in the ongoing transformation of Nigeria’s economy. He emphasizes the importance of supporting the government’s efforts, engaging in informed discussions about policy changes, and actively seeking opportunities to contribute to the nation’s progress. His message resonates with the belief that sustainable development requires a collective effort, a long-term perspective, and a commitment to overcoming the initial challenges of reform. He believes that by embracing these principles, Nigerians can help build a stronger, more prosperous future for their country.
