Responding to the widespread demands for a cabinet reshuffle, President Bola Ahmed Tinubu made changes on October 23, replacing five cabinet members with seven new ones. Additionally, the president merged certain ministries, such as Sports and Culture, and streamlined leadership in regional development bodies like the Niger Delta Development Commission (NDDC). He also introduced five new regional development agencies, ensuring representation across all geographic zones of the country, bringing the total to six.
For better coordination, President Tinubu consolidated these regional agencies under a single ministry, transforming the former Niger Delta Ministry into a supervisory body for all six agencies.

Many Nigerians recognize that the most pressing obstacle to economic growth is the country’s inability to generate enough revenue to cover its increasing expenses. This challenge is worsened by the costs associated with running a large presidential system of government and declining revenues, particularly from oil—Nigeria’s main income source. Crude oil production has been hampered by delays in implementing the Petroleum Industry Act (PIA), which took nearly 20 years to become law under former President Muhammadu Buhari in 2021.

Compounding the problem, significant amounts of oil have been stolen by organized groups, as noted by Tony Elumelu, chairman of Heirs Oil. Elumelu reported that a substantial portion of the oil produced by his company and transported through the Forcados pipeline was siphoned off by these syndicates. To address this, a task force was established to combat oil theft.

These efforts are beginning to show positive results, with production rising to between 1.5-1.6 million barrels per day. To further boost income generation, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), led by Engineer Gbenga Kolawole, has set a goal to increase production by one million barrels within 12-24 months. Achieving this would push Nigeria’s daily production to 2.6 million barrels by 2025—a level not seen in about 20 years.

This context is crucial for understanding that the current administration has pinpointed the main issue impacting Nigeria’s economy: low revenue generation and productivity, despite untapped potential within the workforce. To address these challenges, the government is working to boost oil production, curb theft, and remove barriers to private sector involvement in previously restricted sectors, making it easier for investors to participate.

Moreover, the government is taking targeted actions to assist the poor, such as reducing income inequality through progressive taxation. This approach includes differentiated electricity tariffs, where wealthier citizens pay higher rates (Band A), while lower-income groups benefit from reduced rates in Bands B, C, D, and E.

By implementing this tiered electricity pricing, the wealthy effectively subsidize energy costs for poorer households. Additionally, starting in January, the government plans to adjust taxes so that wealthier individuals bear a greater share of the burden, alleviating pressure on poorer citizens who have suffered from past economic policies.
Mr. Taiwo Oyedele, head of the tax reform committee appointed by President Tinubu, recently announced at a forum in Abuja that a 25% tax on high-income earners will take effect in January next year. Additionally, Festus Keyamo, Minister of Aviation and Aerospace Development, had also started implementing taxes on private jet owners who previously avoided such payments—not necessarily due to deliberate evasion, but potentially due to oversight by the relevant regulatory agency.

These actions indicate that the current administration aims to improve conditions for low-income citizens without fully adopting a socialist approach.
These tax reforms are among the initiatives intended to reduce the burden on many Nigerians. Other efforts include conditional cash transfers to vulnerable groups and significant investment in the Compressed Natural Gas (CNG) initiative, which offers a more affordable alternative to petrol and aims to cut transportation costs—a major concern for many Nigerians as transportation is a pivotal factor driving the cost of living crisis.

Beyond these policies designed to mitigate the effects of subsidy removal and exchange rate unification, which led to the naira’s devaluation under President Tinubu’s reforms, the country’s foreign reserves have increased to about $38 billion, thanks to efforts by the finance team, including the Central Bank of Nigeria (CBN). The heads of the two economic management organs of goverment Wale Edun and Yemi Cardoso have also reported positive developments in some of economic fundamentals of our country such as the percentage of income dedicated to debt management dropping from 92% to 68% and positive Foreign Direct Investment, FDI inflow into the economy.

Despite these highlighted improvements and efforts to create a safety net to cushion the impact of reforms on the poor, the nation faces widespread socioeconomic challenges, leaving many Nigerians struggling. However, it’s important not to succumb to a victim mindset in these difficult times. As humans, survival often comes from being cautious of the unknown, but psychology suggests that thriving requires a shift to a determined, “no retreat, no surrender” attitude to adapt to tough circumstances.

For too long, many Nigerians have seen themselves as victims of harsh government policies without acknowledging their own role in the current situation. While the economic difficulties affecting a large portion of the population have roots in the actions of corrupt officials and politicians, they are often facilitated by citizens who sell their votes during elections, making many complicit in the cycle of corruption that has hindered progress in the country.

This complicity makes all Nigerians, in a way, participants in the consequences of corruption, which is widely recognized as a major barrier to the country’s development. The challenge is one of shared responsibility of all citizens, as corruption pervades government institutions, political offices, and electoral processes.

This issue of wrong headed policies hobbling productivity and promoting consumption as well as unbriddled graft in the public sector have significantly stalled progress throughout Nigeria’s 64 years of independence, and the current administration is attempting to address it through significant reforms. While a direct confrontation with corruption may not be the immediate priority of incumbent administration due to the need to priotise and focus on key areas, such as reducing financial leakages, increasing revenue through higher oil production, job creation to lower unemployment (currently at 33%), and curbing inflation (now at 32.7%), the fight against corruption can become a priority once these initial goals are met.

By and large , while the country continues to face considerable challenges, in many ways, all Nigerians are implicated in the systemic dysfunction that has marked the nation’s history since independence and we must resolve to collectively move our country forward by making the sacrifice today for a better tomorrow.
Let me explain why it’s essential for us to step out of our comfort zones and confront the turbulent times brought on by ongoing reforms necessary to build the momentum needed to overcome current challenges. No one enjoys undergoing surgery, but sometimes it’s the only way to cure a serious health issue, leaving one with no choice but to accept it in hopes of regaining health after the removal of a tumor or cancer.

This analogy mirrors the situation many Nigerians face today. It’s a hard reality for many to accept, but life is becoming increasingly difficult and we must seek to rise above the fray. While there is hope for improvement, the widespread complaints about the current hardships are alarming. Many Nigerians are anxious about the long and challenging road ahead before they can transition from hardship to prosperity. This concern was echoed and further accentuated by Indermit Gill, a Senior Vice President of the World Bank Group, during the recent Nigerian Economic Summit Group’s 30th anniversary in Abuja from October 16-18.

Gill’s prediction that it will take Nigeria 10-15 years to achieve economic relief may dampen the spirits of those of us who believe that after two years of reforms, the economy will start to improve. Our optimism is based on the expectation that significant benefits will emerge after 24 months of transformative reforms.
However, the World Bank’s lengthy forecast of 10-15 years for economic momentum can be disheartening for those of us who see light at the end of the tunnel. Consequently, we encourage our fellow citizens to be patient and resilient, as the groundwork for a better life has already been established and is beginning to show promise based on the new economic indices-increased oil production, reduction in percentage of income applied in debt service from 92% to 68% and ramped FDI inflow.

It’s important to note that the 10-15 year timeline for these reforms to bear fruit as postulated by the World bank official is a general estimate used by development experts and economists. This period could be shorter, as evidenced by how the introduction of GSM services by early providers like Econet (now Airtel) and MTN in Nigeria exceeded expectations due to unique factors in our economy.

Additionally, we should remember that during the early stages of the COVID-19 pandemic, experts, including Melinda Gates from the Bill and Melinda Gates Foundation, predicted widespread fatalities in Africa, including Nigeria. Fortunately, the actual death toll in Africa was much lower than in technologically advanced countries like the USA, which suffered over a million deaths.

Furthermore, it’s worth recalling that an American think tank, led by former Nigerian envoy Ambassador John Campbell, had forecast that Nigeria would disintegrate by 2015. Although Campbell later clarified he did not make such a definitive prediction, Nigeria has surpassed that timeline and remains united.
To summarize, the extensive socioeconomic reforms implemented by the current administration since May 29, 2023—about 18 months ago—are aimed at resetting our nation. This effort is crucial because we have been on the wrong path since the military coup of 1966, just three years after becoming a republic in 1963 and six years post-independence from British colonial rule, which began in 1885 following the Berlin Conference that partitioned

In my opinion, the presidency shouldn’t be overly concerned about President Tinubu being nicknamed “T-Pain” by Nigerians feeling frustrated by the hardships. As humans, we naturally respond to pain and pleasure, so those suffering from the impacts of the president’s stringent reform policies have every right to express their feelings in whatever manner they choose.

If calling the president “T-Pain” provides some comfort to those affected by the reforms, even if it seems a bit harsh or playful, then that’s acceptable. Psychologists might suggest that this nickname could serve as a coping mechanism for Nigerians facing tough times. Perhaps, if President Tinubu successfully navigates the current economic turmoil, he could eventually earn the title of “Miracle Worker” from those who once referred to him as “T-Pain.”
Given this context, criticizing leaders is part of the political landscape and can serve as comic relief in an otherwise grim situation, even if the humor has a darker edge. Wasn’t it the same Tinubu, during his 2022/2023 presidential campaign, who was mocked for allegedly speaking nonsense, like “bala bulu”? Did he attempt to halt the spread of such disinformation?

For many Nigerians, it has been an eye-opening experience to realize that the opposition’s claims about Tinubu’s slurred speech as a sign of a serious health issue were unfounded. After winning the election in May of last year, he suddenly became articulate. It was as if a magic wand had been waved to eliminate the health issues his opponents claimed he had.
It is now evident that the allegations of Tinubu’s incoherence during the campaign were fabricated and part of the political gamesmanship of that time. I believe that just as he overcame those pre-election attacks, he will also succeed in improving the economy and, consequently, the living standards of ordinary Nigerians in the near future, barring any unforeseen circumstances.

Moreover, President Tinubu’s predecessor, Muhammadu Buhari (2015-2023), was also labeled ‘Baba Go Slow.’ Goodluck Jonathan (2010-2015), who Buhari succeeded, was called ‘clueless,’ and his wife, Patience, was mockingly referred to as ‘hippopotamus.’ Similarly, Gen. Ibrahim Babangida (1985-1993) was nicknamed ‘Maradona’ after the famous Argentinian footballer known for his exceptional dribbling.

It’s worth noting that the practice of assigning negative labels to leaders by their constituents is not unique to Nigeria. Similar instances have occurred in the United Kingdom, where the late Margaret Thatcher (1979-1990) was given the title ‘Iron Lady’ due to her lengthy battle with powerful labor unions that dominated the workforce in the UK before her time at No. 10 Downing Street, the residence of the British prime minister.

In the USA, former President Ronald Reagan (1981-89) had the moniker ‘Nuke Head’ attached to his name because of his perceived penchant for starting wars during his tenure.
In light of the above, nicknaming political leaders by those they lead is not an anathema but a universal phenomenon, as outlined above. Therefore, the Nigerian presidency cannot stop or ban by fiat those who are expressing their angst or resentment towards President Tinubu and referring to him as T-Pain, as my good friend Mr. Bayo Onanuga, Special Adviser to President Tinubu on Media and Publicity, is reportedly trying to do.

After all, President Tinubu is also popularly called ‘the Jagaban,’ and I believe he is unperturbed by the nickname—whether it portrays him in a positive or negative light.
Back in the days when then-Information and National Orientation Minister, the late Dr. Dora Akunyili, did not find it acceptable that our youths had rebranded Nigeria in their own lingo with the moniker ‘Naija’ and she banned it and tried to stymie it, she failed to succeed. As it turned out, her disapproval of the use of the term ‘Naija’ by our youths as an alternative to the name Nigeria was an exercise in futility because the nomenclature—‘Naija’—is apparently here to stay, as evidenced by its continued use against the dictate of the then-minister’s fiat or diktat.

One cannot help but recognize the resilience of Nigerians and their ability to navigate tough times, as evidenced by the numerous video skits and comedies dominating TikTok and other social media platforms.
The referenced comics that are making light of the otherwise very rough times that a critical mass of Nigerians are going through are, believe it or not, helping to diffuse the palpable tension in the polity. The rib-cracking jokes and comedies are too numerous to catalog in this piece. But one can bet that hardly anyone engaging with social media has not come across content parodying the dire straits in which Nigerians find themselves as they navigate the new environment created by the reform measures of President Tinubu’s administration, which are expected to ultimately help reset Nigeria.

Although the reforms are taking their toll on Nigerians today, Tinubu’s Renewed Hope agenda’s goal is clearly to be the harbinger of prosperity for our compatriots and posterity. As optimists, we pray that this mission is realized sooner rather than later. Already, inflation is ebbing, and our national debts are being paid off. Hopefully, bank interest rates will drop when the Central Bank of Nigeria (CBN) decides to ease the tight monetary control measures it introduced to rein in inflation following the convergence of the two foreign exchange windows inherited from its predecessor resulting a massive devaluation which has made the economy flush with naira.

Sometimes, the bad things that happen in our lives put us directly on the path to the best things that will ever happen to us. Social scientists refer to this as Post-Traumatic Growth (PTG), which is a positive transformation that can occur after experiencing adversity, trauma, or challenges. This manifests in the form of increased resilience, coping skills, and purpose, such that losing a job sparks entrepreneurship and success by adopting an attitude of resilience, as enunciated by Friedrich Nietzsche: “What doesn’t kill me makes me stronger,” and “Fall seven times and stand up eight,” which is a Japanese proverb.

The quotes above underscore and illustrate that adversity is not a dead end but a detour, because challenges can foster growth, wisdom, and strength—every experience, good or bad, shapes us. As we all get tossed up and down by the turbulent waves of hardship that have been occasioned by the incumbent administration’s socio-economic reform measures, we must develop coping mechanisms that will enable us to thrive in the face of adversity. It is worth remembering that, as human beings who must learn to respond to change, whether good or bad, our primary focus should not be on the hardship we are currently experiencing, but on how we respond to it and grow from it.

President Tinubu has assured us that he is diligently working to alleviate these difficulties through various relief measures aimed at easing the impact of his bold but difficult policy changes.
Of course, no person is without flaws, and President Tinubu, like all humans—especially those in politics—has his imperfections. However, his commitment to steering Nigeria out of its current economic struggles is evident. His success, however, depends on the support of the citizens, who must stand by him as patriots.

Therefore, I urge everyone to exercise greater patience, as the president is indeed responding to the concerns and struggles of the long suffering masses. He has been making adjustments, such as replacing underperforming ministers, setting clear performance benchmarks, and reducing government expenses by reducing number of people on entourage of officials and foreign trips to only critically important ones , as well as limiting official cars and security details—steps that many of us have long advocated for. Even then, like the proverbial Oliver twist some Nigerians are still asking for more by demanding for radical changes in the cabinet and drastic cut in cost of governance from President Tinubu who has continuosly averred that he is not soliciting the sympathy of Nigerians because he asked for the job, but appealing for the patience and support of the critical mass of down cast Nigerians to deliver on his mandate, which is a fair requirement and l urge us all to oblige him.

Magnus Onyibe, an entrepreneur, public policy analyst, author, democracy advocate, development strategist, alumnus of the Fletcher School of Law and Diplomacy, Tufts University, Massachusetts, USA, and a former commissioner in the Delta State government, sent this piece from Lagos, Nigeria.
To continue with this conversation and more, please visit www.magnum.ng.