Seun Onigbinde, the founder of civil advocacy and pro-accountability organisation BudgIT, has stated that President Tinubu’s administration has shown indications that its decisions lacked expert’s input, asserting that the administration has started off on the wrong foot with his twin policies of petrol subsidy removal and unification of the foreign exchange windows.
Onigbinde also pointed out that President Bola Tinubu’s cabinet is populated by politician-ministers who earned their seats as a political reward.
According to him, he stated that his government was showing a dearth of technocratic leadership, adding that there was an over-extension of political opportunism, which he acknowledges as his problem with the government.
“That’s why a lot of decisions were taken, and they were not taken with sound technocratic support,” he said.
In addition to firing five ministers, the founder of BudgIT suggested that Tinubu should fire more members of his cabinet and bring in technocrats who could give him good advice. Examples of such individuals include former Nigerian Finance Minister Ngozi Okonjo-Iweala, who is now the head of the World Trade Organisation (WTO); former head of the apex bank Sanusi Lamido Sanusi; former Agriculture Minister and current head of the African Development Bank (AfDB), Akinwunmi Adesina, among others.
Onigbinde said, “Remove fuel subsidy from day one; I think that was a bad decision. The exchange rate is parity without a significant buffer. A currency must have some level of stability. You don’t see that anywhere in the world where currency just fluctuates randomly like we are having it right now.”
He urged the president to reflect on some of the steps taken and decide whether to govern or engage in politics, suggesting that the president should disengage more of his cabinet members.