The Socialist Workers League (SWL) calls on the working masses and all poor people in Nigeria not to be deceived by the New Year speech delivered by President Tinubu. It was filled with vain wishes and empty promises of good things to come, which according to the president, is evident by positive economic indicators. While we are not averse to economic prosperity, it is important to stress that any economic growth that might in anyway be achieved will benefit the rich capitalists and not us, without our changing the exploitative system which produced Tinubu and which he and all those ruling us represent.
In his message, which is also lacking in relatable substance for working-class people, the president pointed to the surge in foreign investment and the stock market growth that “has generated trillions in Naira of wealth” as examples of the positive economic indicators to prove the success of his economic reforms. But this hasn’t reflected in the lives of the vast majority of Nigerians, with 8 million more projected to join the 25 million facing food insecurity entering into the new year while companies recorded super profits.
The SWL categorically rejects the president’s insistence on his economic policies that only favour a handful of capitalists to the detriment of the Nigerian masses. These economic policies prioritise profit maximisation while wreaking socio-economic havoc on working people and the toiling masses. For example, banks reported record profits of over 100%, benefiting from the persistent hike in interest rates, while the poor working people of Nigeria contend with record high inflation at 34.6%, crippling their ability to make ends meet. The promise of economic growth rings hollow when the basic necessities of life – food, healthcare, education, and housing – are increasingly out of reach for ordinary citizens.
The president also mentioned the Naira gaining strength against the US dollar and gradual reduction in fuel prices as other economic indicators. These are not outright lies, apart from the fact that they could only have short term bearing that will not stand the test of time, towards revamping the economy in a way that works for the many and not the few. Tinubu has chosen to be economic with the truth. The truth of the matter at this point as well is that the Naira has actually depreciated against the dollar by 40.9% between the start and the end of the year.
Furthermore, the president’s message failed to address the growing insecurity and violence that plague many parts of the country. This comes as no surprise given that the president is more committed to implementing neoliberal policies which are not centred around the needs of people. A crime survey report published by the National Bureau of Statistics (NBS) shows an alarming rise in kidnapping under the Tinubu administration. It is also important to note that the rising cases of kidnapping and banditry is not divorced from the social inequality that has worsened under this administration. The government’s inability to provide safety and security for Nigerians that are not part of those who are super-rich is a profound indictment of its leadership!
We also find despicable the claims of commitment to youth support coming from a government that shamelessly put minors on trial for treason along with other youths who hit the streets to protest against hunger and hardship in the land.
At this point, it becomes glaring, even to the blind, that this government, with its neoliberal anti-people agenda, is an enemy of working-class people and poor youths. We must unite and fight!
In this New Year, we will renew our commitment to the struggles of working people and youths across all social sectors. We call on workers, poor artisans, market women and men, peasants, students, youths and all other oppressed people to take their destiny in their own hands by fighting for system change to overthrow the current exploitative economic system. Dare to struggle, dare to win! We can only win if we fight back!
Kunle ‘Wizeman’ AJAYI
National Chairperson
Amara NWOSU
National Secretary
