"I Almost Ran Away": Tinubu Reflects on Early Struggles, Assures Nigeria's Economic Recovery on Horizon

 

President Bola Tinubu has opened up about the early challenges he faced upon assuming office, revealing that there was a point when he almost walked away from the burdens of leadership. Speaking during a recent visit to Katsina State, Tinubu shared his personal experience of the overwhelming difficulties the nation faced in the early stages of his administration. Despite the discouragement that nearly drove him to abandon his post, he expressed optimism about Nigeria’s economic recovery, asserting that the country’s financial troubles are now beginning to take a positive turn.

The president’s reflections centered on the ongoing economic hurdles that Nigeria has grappled with in recent years. He admitted that at the start of his tenure, the sheer weight of the nation’s problems, particularly the economic crisis, left him feeling helpless. Tinubu confessed that the situation was so dire that he nearly stopped following the news altogether, overwhelmed by the grim reports of Nigeria’s economic downturn. However, instead of giving in to the frustration, he chose to stay the course, remaining firm in his commitment to making critical decisions that would eventually lead the country out of its economic woes.

According to Tinubu, effective leadership is defined by the courage to make tough decisions at the right time. He remained steadfast in his resolve, despite the mounting pressures. “When we started, it was challenging, and I almost ran away from watching or reading the newspapers,” Tinubu stated. “I got discouraged and stayed put on my decisions, believing that the ability of a leader to take decisions at the right time is the hallmark of leadership. We took it and stayed with it, and it will be rewarding, it’s already bearing fruits.”

The president’s speech was delivered at a time when Nigeria’s economic struggles continue to be a major concern for the public, with inflation, unemployment, and a shrinking GDP making daily life difficult for millions. Yet, Tinubu remains confident that the country is beginning to turn the corner. He reassured the citizens that the measures his administration has taken, while initially hard to bear, are beginning to yield positive results, signaling an eventual recovery for the Nigerian economy.

Despite the president's optimism, there remains a considerable amount of skepticism surrounding Nigeria’s long-term economic prospects. In particular, the outgoing president of the African Development Bank (AfDB), Akinwumi Adesina, has raised alarms over the country’s lagging economic performance. Adesina, in a keynote address at the 20th anniversary dinner of the investment firm Chapel Hill Denham in Lagos, pointed to the troubling trend of Nigeria’s declining GDP per capita.

Adesina reminded the audience that there was a time when Nigeria and some of the Asian economic powerhouses, such as South Korea, were on similar economic footing. However, over the decades, these nations have significantly outpaced Nigeria in terms of economic growth, leaving the country behind. He lamented the lack of a focused, long-term economic plan from successive Nigerian governments, which has contributed to the widening poverty gap. According to Adesina, more Nigerians are living in poverty today than at the time of the country's independence in 1960.

The AfDB president placed the blame squarely on successive administrations that have failed to implement sustainable economic policies or execute them effectively. This, he argued, is why Nigeria now finds itself in a situation where other countries that once shared a similar economic trajectory have surged ahead, while Nigeria stagnates. The AfDB president further emphasized that the key to reversing this trend lies in the country’s ability to adopt a well-structured and practical economic strategy.

However, Adesina was not entirely pessimistic. He emphasized the need for Nigeria to focus its efforts on becoming the economic powerhouse of the African continent, highlighting the country’s immense potential. He called for a renewed focus on industrialization, infrastructural development, and the diversification of the nation’s economy away from its reliance on oil exports. The AfDB president also stressed the importance of building institutions that can sustain growth and implement long-term plans.

While both President Tinubu and Adesina agree that the challenges are steep, they differ in their outlooks. Tinubu’s assurances that Nigeria’s economy is starting to turn around, albeit slowly, stand in contrast to Adesina’s more critical stance, which underscores the stark reality of Nigeria’s economic decline. However, both leaders share a common belief that with the right kind of leadership and policy execution, Nigeria can still achieve its potential.

Despite the mixed reactions, the underlying message is clear: Nigeria’s future depends on decisive leadership, sound economic planning, and the country’s ability to adapt to a rapidly changing global economic landscape. Tinubu’s administration may have experienced a difficult start, but the president remains hopeful that his decisions will steer the nation towards a more prosperous future. The coming months and years will be crucial in determining whether the country can indeed recover from its economic challenges or whether the cycle of stagnation will continue.

For now, Nigerians are left to grapple with the uncertainty of their nation’s economic trajectory. The president’s reassurances provide a glimmer of hope, but only time will tell whether the policies being implemented can truly change the course of the country’s economic future. As Tinubu himself said, the country’s economic situation has "bent the corner"—now, the real test lies in ensuring that the corner leads to long-term prosperity.