PBAT Marks 100 days in Office

Introduction

Brief background on the President

President Bola Ahmed Tinubu (PBAT), since his assumption into office on the 29th of May 2023, has had quite the eventful first 100 days as President. The declared winner of the highly contentious 2023 general elections, President Tinubu succeeded his party-mate and political ally, former President Buhari for the holder of Nigeria’s highest elected position. Tinubu secured a total of 8,794,726 votes to defeat runner-up Atiku Abubakar of the Peoples Democratic Party (PDP), who polled 6,984,520 votes, while Mr Peter Obi of the Labour Party scored 6,101,533 votes. Both Peter Obi and Atiku Abubakar expressed their displeasure with the electoral process and have taken their case to court citing irregularities and electoral misconduct on the part of the ruling party, the All-Progressives Congress (APC) and the electoral umpire, Independent National Electoral Commission (INEC).

Tinubu’s rise to political prominence precedes his time as the Executive Governor of Lagos State, from 1999-2007. He cut his political teeth in 1992 during the botched third republic winning a Senatorial seat representing Lagos West in the National Assembly under the auspice of Shehu Musa Yar’Adua at the Social Democratic Party (SDP). The annulment by the Babangida-led military junta, of the June 12, 1993, presidential elections whereby SDP’s candidate the renowned Chief Moshood Abiola and his running mate Babagana Kingibe won by a landslide victory, was the beginning of a long arduous fight for the return to democracy. A part of this campaign against the military was the pro-democracy group called the National Democratic Coalition (NADECO), formed by Bola Tinubu, which organised resistance rallies and protests calling for the restoration of Chief Abiola’s mandate. Tinubu’s association with NADECO made him a victim of targeted harassment by the military under General Abacha causing him to flee the country in fear of his life and that of his family members.

With the death of Chief Abiola while in incarceration, and the subsequent demise of General Abacha, Tinubu returned to Nigeria from exile and formed a new party with like minds called the Alliance for Democracy (AD). He secured the party’s 1999 Lagos State gubernatorial ticket and went ahead to spend 8 years as state governor; the only one re-elected in 2003 among the 6 south-west Governors. His defiance against former President Olusegun Obasanjo led to lengthy legal battles between Lagos State and the Federal Government about how local government allocations should be administered after FG withheld funds to Local Government Areas in the state due to Tinubu’s creation of 37 Local Council Development Area’s (LCDA). The battle was also fought on other fronts which included independent power generation, Onshore/Offshore Dichotomy, funding for the dilapidated federal infrastructure in Lagos State etc.

As his tenure as Lagos State Governor came to an end, Tinubu's political journey took yet another intriguing turn. He became a political kingmaker, leveraging his influence to shape the national political landscape. His knack for strategic coalition-building and his ability to navigate the complex interplay of Nigeria's diverse ethnic and regional interests earned him the moniker "Jagaban," coined after the “Ja a gabar Borgu” chieftaincy title from the Emir of Borgu land in northern Nigeria. In 2007 he and then Vice-President Atiku Abubakar formed the Action Congress of Nigeria (AC) with Atiku running for and ultimately losing the presidential election to PDP’s and Obasanjo’s anointed candidate Umar Musa Yar’adua.

In the 2011 Nigerian general elections, Bola Tinubu was a key figure in the Action Congress of Nigeria (ACN), a major opposition party at the time. He played a crucial role in forming strategic alliances with other opposition parties to challenge the dominance of the ruling People's Democratic Party (PDP), which had held power for over a decade. Tinubu's ability to forge alliances and mobilize support from different regions of the country was instrumental in creating a formidable opposition coalition known as the "CPC-ACN-ANPP merger" (Congress for Progressive Change, Action Congress of Nigeria, and All Nigeria Peoples Party). This coalition eventually became the All-Progressives Congress (APC) in 2013.

In the 2015 Nigerian general elections, Bola Tinubu continued to play a pivotal role as a leader within the newly formed All Progressives Congress (APC). The APC presented a united front against the PDP and fielded General Muhammadu Buhari as its presidential candidate. The 2015 elections marked a historic moment as General Muhammadu Buhari, the APC candidate, defeated the incumbent President Goodluck Jonathan of the PDP. This election marked the first time in Nigeria's history that an opposition candidate won a presidential election through the ballot box, signalling a shift in the country's political landscape.

By securing the Presidency, Bola Tinubu became the 6th Executive President and the 16th Head of state of Nigeria. His struggles on the path to victory give his supporters conviction on his ability to perform well once in office. With President Buhari leaving behind a myriad of economic, security and social challenges for Tinubu to tackle, his work was already cut out for him and the expectations to deliver are high.

Why was PBAT’s first 100 Days consequential?

When a new leader takes office, there is usually a high level of public interest and anticipation regarding their policies and priorities, President Tinubu was no different. The first 100 days provided an early opportunity to address these expectations and demonstrate a commitment to fulfilling campaign promises. This “honeymoon” period during the first few months is when there is a higher likelihood of political and public support. How Tinubu handled challenges and crises that tested his leadership abilities in this period will significantly impact his credibility and public perception.

The significance of the first 100 days can’t be overstretched, it’s during this early phase that leaders will seek to implement their policy agenda. They may introduce legislation, sign executive orders, and make appointments to key positions such as ministers, special advisers, and directors of government agencies. Achieving policy wins early on can help build confidence in the administration's ability to govern. Also, with reference to effective communication, the first 100 days provide an opportunity to establish a clear and consistent messaging strategy, allowing the leader to articulate their vision and priorities to the public and legislature. The first 100 days often involve outreach and negotiations to garner support for critical initiatives. A leader's legacy can be shaped by the actions taken during their first 100 days. Achievements and failures during this period set the course for the rest of their term and will influence how they are remembered in history.

President Tinubu’s first 100 days in office were significant because they offered a unique window of opportunity for him as a new leader to make an impact, build public trust, and set the direction for his administration. It was a crucial period for achieving early successes, managing crises, and positioning his government for the challenges and opportunities that lie ahead. In this document, we will mention and discuss key policies implemented, important events that occurred and notable legislation enacted during the 100 days. We will also touch upon the reactions of citizens to these policies and events and his early commitment to his campaign promises.

Report End-goal

This report aims to highlight the policies, actions and strategies implemented by President Tinubu, in his first 100 days in office, with the subsequent impact on citizens and the far-reaching effects it has in setting the tone for his administration and the country at large. The report allows citizens to assess whether the president is fulfilling the promises made during the election campaign. This is vital in holding President Tinubu accountable to his words and ensuring that he remains responsive to the needs and expectations of the electorate. The report also serves as a record for future reference during subsequent elections, allowing citizens to evaluate the government's performance over time and make informed choices in the next election cycle.

By providing citizens with this information about the government's performance early in its tenure, this document empowers them to engage in participatory democracy. Informed citizens are better equipped to participate in civic activities, provide feedback to the government, and advocate for their interests. This 100-day report also reinforces the system of checks and balances by helping other branches of government, such as the legislature and the judiciary, monitor the executive's actions. It can lead to oversight, investigations, and legislative adjustments as needed.

One of AdvoKC’s principal objectives is to promote transparency in governance, and this document does this by providing a clear record of what has been achieved and what remains pending by President Tinubu. It serves as a tool for keeping the government accountable for its actions and inactions. It also educates citizens about the policies and legislative actions of the government. This awareness helps citizens understand the potential impact of these policies on their lives and communities, enabling more informed discussions and decision-making.

Lastly, other civil society organizations can use this document to support their advocacy efforts, engage with policymakers, and provide constructive feedback and recommendations based on their analysis, which in turn can influence policy decisions and shape the government's agenda.

We at AdvoKC hope to steer public discussion with this document to issues that matter, contributing to a robust democratic dispensation; ultimately strengthening the democratic process and ensuring that elected officials are responsive to the needs and aspirations of the people they serve.

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Executive Orders and Administrative Actions

A. “… fuel subsidy is gone!”— These words uttered by President Tinubu, during his inauguration speech came to many as a bombshell.  The announcement of this policy had weighty consequences for ordinary citizens and was made without adequate consultation, preparation, and remedial measures. Subsidy removal on Petrol had long been debated and contemplated by successive governments, but no one expected it to be lifted in such a capricious manner.

Although, part of his campaign promise, this pronouncement on the first day in office sent a wave of panic through the populace, tripling the cost of petrol and petrol-dependent services overnight and leaving most households and businesses ill-prepared. It was believed before his coming into office that President Tinubu would go for the gradual phase-out or alternative policies approach to ease the transition to higher fuel prices and promote economic stability. But it was not the case, President Tinubu later defended his action in July saying:

“In a little over two months, we have saved over a trillion naira that would have been squandered on the unproductive fuel subsidy which only benefited smugglers and fraudsters.”

However, it must be said that Nigerians are yet to reap the benefits of subsidy removal as the adverse effect is still lingering.

An offshoot of the affluent 1970s oil boom era, subsidized fuel prices were seen as a means to improve living standards and stimulate economic growth. But then came the 1990s with unstable oil prices and a plunge in the global oil market which caused Nigeria to face economic challenges. To shield the populace from the impact of rising oil prices, successive governments continued and even expanded the fuel subsidy program. This period marked the beginning of the government's heavy involvement in determining fuel prices.

By the late 2000s, the cost of fuel subsidies had become a significant burden on the Nigerian government. The government struggled to cover the increasing gap between the international market price of fuel and the subsidized domestic price. This strain on public finances hindered the government's ability to invest in critical sectors like education, healthcare, and infrastructure. The subsidy program was plagued by fraudulent practices such as fuel smuggling, subsidy overpayments, and diversion of funds. These issues led to massive financial leakages and a strain on public finances.

In 2012, the Government of Goodluck Jonathan attempted to remove the fuel subsidy entirely, leading to widespread protests and strikes across the country. Citizens argued that removing the subsidy would lead to a sharp increase in fuel prices and cause hardship for most Nigerians.

"The reality is that from today the government can no longer afford to pay for fuel subsidies as a nation,"

Mele Kyari, NPPCL’s chief executive made the above statement after reporters asked him about the policy in May. The government spent over $10 billion on subsidies in 2022 alone. It had become unsustainable and was an opportunity for the mismanagement of public funds.

The allocation of N3.92 trillion for petrol subsidy between January 2020 and June 2022 exceeded the total combined federal budgets dedicated to healthcare, education, and defence over the same 30-month period. Nigeria's expenditure on petroleum subsidies amounted to approximately 10 trillion Naira between 2006 and 2018. It absorbed N5.82 trillion from 2021 to 2022 and faces a proposed allocation of N3.36 trillion for the initial six months of 2023. These statistics highlight a significant strain on the government's financial resources, hindering its capacity to invest in critical sectors that have the potential to enhance economic growth and the well-being of its citizens.

The removal of fuel subsidies had significant ripple effects on both citizens and the economy.

Effects on Citizens:

1. Higher Fuel Prices: The immediate and most noticeable effect of subsidy removal was an increase in fuel prices. This led to higher transportation costs for individuals and businesses, tripling daily commuting expenses and the prices of goods and services.

2. Inflation: Fuel price hikes contributed to overall inflation, as transportation costs play a role in the pricing of various products. This eroded the purchasing power of most consumers and reduced their standard of living. The inflation also affected the cost of production for most businesses, adding to the increase in the cost of living for citizens. The consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 22.41 per cent in May 2023, up from 22.22 per cent in the previous month. According to the Nigeria Bureau of Statistics, this inflationary hike was due to the increase in the cost of things like oil and fat, yam and other tubers, bread and cereals, fish, potatoes, fruits, meat, vegetables, and spirits. Also, the Annual inflation rate in Nigeria accelerated for a sixth month to 24.08% in July 2023, the highest since September of 2005, compared to forecasts of 23.7%. This Is a worrying trend and contributes to the overall hardship facing Nigerians.

3. Income Redistribution: Subsidy removal disproportionately affects low-income individuals and households, as they spend a larger share of their income on fuel and transportation. It has widened income inequality and led to social unrest due to the absence of appropriate social safety nets. The labour union successfully undertook strike actions to get the Tinubu administration to provide much-needed relief for Nigerian workers.

4. Transportation Challenges: For many Nigerians without adequate public transportation infrastructure, higher fuel prices can make it more difficult to access jobs, schools, and healthcare services. Thereby increasing the number of unemployed citizens and out-of-school children in the country.

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Effects on the Economy:

1. Fiscal Relief: Removing fuel subsidies provides fiscal relief to the government, freeing up funds that can be redirected toward essential services such as healthcare, education, and infrastructure development, hence contributing to long-term economic stability.

2. Reduced Budget Deficits: Subsidy removal can help reduce budget deficits and curb public debt growth, which can enhance economic stability and attract foreign investors. This is especially important since the Buhari administration left behind a morbid debt burden for the succeeding administration to repay. The Debt Management Office (DMO) stated in June, that Nigeria’s debt service-to-revenue ratio in 2023 stands at 73.5 per cent, which is an appalling figure by any standard.

3. Efficiency Improvements: Without the distortion subsidies caused to the market, there will be a more efficient allocation of resources in the economy. This encourages competition and innovation in the energy sector. With the NNPC licensing the importation of premium motor spirits to more than 10 importers, a higher standard of products will be seen in imports as competition improves standards.

4. Environmental Benefits: From a climate perspective higher fuel prices have encouraged fuel efficiency and the use of alternative, cleaner energy sources, leading to reduced greenhouse gas emissions and environmental benefits.

5. Foreign Exchange Savings: Removing subsidies has reduced the need for foreign exchange to finance fuel imports, which in turn helps to stabilize the naira.

6. Investor Confidence: Subsidy removal can signal a commitment to fiscal discipline and market-oriented policies, which can boost investor confidence and attract foreign investment.

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B. Floating the Naira

On the 14th of June 2023, two weeks after President Tinubu was sworn in, the Central Bank of Nigeria (CBN) with his approval directed Deposit Money Banks to remove the rate cap on the naira at the Investors and Exporters’ (I&E) Window of the foreign exchange market, to allow for a free float of the naira against the dollar, pounds, and other world currencies. Floating the naira has been viewed by many as a step toward a more market-oriented and sustainable exchange rate system that can address the structural issues associated with currency devaluation.

For years the Central Bank of Nigeria maintained a fixed exchange rate system where it pegged the official exchange rate at a specific level, typically lower than the parallel market rate. This official rate was often seen as overvalued, as it didn't reflect the true market supply and demand dynamics. To defend the fixed official exchange rate, the CBN regularly intervened in the foreign exchange market. It did this by selling foreign currency (usually US dollars) to authorized dealers at the official rate, effectively subsidizing the cost of dollars for certain transactions. However, these interventions often couldn't meet the high demand for foreign exchange, leading to a shortage of dollars in the official market.

To manage the scarcity of foreign exchange, the CBN under Governor Godwin Emeifele introduced multiple exchange rate systems, including various official rates for different sectors such as importers of essential goods, investors and exporters, and official government transactions. This fragmented approach further contributed to currency disparities, as it created arbitrage opportunities and confusion in the market.

In his manifesto and during his campaign, President Tinubu conveyed his plans to harmonize the multiple exchange rates and it came as no surprise when the directive was finally given to float the naira. However, the CBN later made a clarification stating that the policy decision implemented is not a totally free float but a managed float, meaning that the CBN occasionally interferes in determining the currency value.

It must be mentioned that the advantages of a floated Naira far outweigh the alternative available. Floating the Naira would allow the exchange rate to fluctuate based on supply and demand in the foreign exchange market leading to a more realistic exchange rate that reflects economic fundamentals, thereby reducing the disparity between official and parallel market rates. Also, businesses will have easier access to foreign currency, as the market-driven exchange rate would encourage transparency and increased foreign exchange inflows, supporting import-dependent sectors like manufacturing, and helping stabilize prices. Lastly, Foreign investors are attracted to a flexible exchange rate regime as it reduces uncertainty about currency risk. This eventually leads to an increase in foreign direct investments, job creation, and economic growth.

The CBN in August revealed its first audited statement in 8 years, unveiling a significant shortfall in the nation's foreign reserves. The disclosed figures revealed that over 40 per cent of the $34 billion held in foreign reserves by the bank at the close of 2022 was committed. These reserves were either used as collateral for loans from foreign banks or locked into forward contracts. The government’s official assertion is that it possesses adequate foreign currency reserves to cover nearly eight months' worth of imports. However, once these obligations are subtracted, that duration dwindles to slightly over four months, exposing the country to vulnerabilities stemming from external economic shocks. The depletion of Nigeria’s foreign reserve plays an important role in destabilizing the currency value against the US Dollar. Foreign reserves serve as a buffer to stabilize the exchange rate. When reserves are high, the central bank intervenes in the market by buying Naira and selling USD, helping to maintain the Naira's value. However, as the reserves decline, this ability to intervene effectively diminishes, potentially leading to exchange rate depreciation.

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C. Suspension and Arrest of CBN’s Governor Godwin Emeifele

In a dramatic turn of events on Saturday the 10th of June 2023, men of Nigeria’s secret police otherwise known as the State Security Service (SSS) arrested the erstwhile governor of the central bank, Mr. Godwin Emeifele in his Lagos home following his suspension the previous day by President Tinubu. The reasons given for the arrest ranged from misappropriation of public funds to terrorism financing. The suspended governor was flown to Abuja and held in SSS custody for 34 days without being charged in court.

When finally, a court hearing was approved for Mr Emefiele, a Federal Capital Territory (FCT) High Court at Maitama, Abuja, on Thursday, 13 July, ordered the State Security Service (SSS) to either file charges against the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, or release him, within one week.

Subsequently, on the 25th of July 2023 Mr Emefiele was arraigned to the Federal High Court in Lagos on a two-count charge of “illegal possession” of firearms and live ammunition. Nicholas Oweibo, the judge, had ordered that Emefiele be kept in the custody of the Nigeria Correctional Service (NCoS) pending the fulfilment of his bail conditions. The SSS refused to comply with the court orders and has held him in continued detention since his arrest in June.

It should be noted that during the Buhari administration, a Federal High Court in Abuja dismissed an application filed by the SSS in December 2022 to arrest the former CBN Governor for various charges including the funding of the Independent People of Biafra (IPOB) separatist group.

During his campaign, President Tinubu made it clear that he was not happy with some policies being implemented by the CBN under the leadership of Godwin Emefiele. Among those policies was the Currency Redesign policy where the CBN in 2022 announced the redesign of 200-, 500- and 1,000-naira notes, with plans to end the use of the old notes by 31 January 2023. However, the severe shortage of the new currency notes rendered the January 31 deadline impractical, leading the bank, in agreement with President Muhammadu Buhari, to extend the legal acceptance of the old notes until February 10.

Buhari expressed that he supported the policy to deter vote buying in the general elections that were close by. But while on campaign in Abeokuta, President Tinubu alluded that the naira redesign policy was an obstacle set up by detractors at the helm of affairs who did not want him to win the forthcoming elections. The policy was later overturned after it caused an unprecedented amount of hardship for citizens.

It seems that President Tinubu who came out victorious in the election, has not forgotten the part played by the leadership of the CBN leading up to the election. Since suspending Emeifele, President Tinubu set up a panel led by Jim Obazee to investigate alleged financial infractions in the CBN. The panel on the 29th of August also detained Kingsley Obiora the Deputy Governor in charge of Economic Policy and questioned him as part of a clampdown on senior officials of the apex bank.

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D. The Niger Coup and Nigeria’s Foreign Policy Initiatives under PBAT

Taking over from President Umaro Sissoco Embaló of Guinea Bissau, President Bola Ahmed Tinubu was elected for a one-year term as chairman of the Economic Community of West African States (ECOWAS) on 9 July 2023. He was elected at the 63rd ordinary session of the ECOWAS Authority of Heads of State and Government in Bissau, the capital city of the Republic of Guinea-Bissau. This position although a ceremonial one, comes with additional responsibilities for President Tinubu who is already burdened by National issues facing Nigeria.

As Chairman of ECOWAS, Tinubu plays a pivotal role in maintaining democratic governance within the region. One of his main responsibilities is to condemn and respond swiftly to any attempts at coups or unconstitutional changes of government within member states. ECOWAS has a protocol on democracy and good governance that outlines measures, including sanctions and diplomatic interventions, to address such situations. The Chairman's leadership is critical in mobilizing collective action to prevent coups and restore constitutional order.

Following the ouster of Niger’s President, Mohammed Bazoum from power in a coup on July 26, 2023, led by the commander of the presidential guard, Gen. Abdourahamane Tchiani, President Tinubu and other ECOWAS heads of state found themselves in a dilemma. The Niger coup marked the ninth in a long series of coups and coup attempts that have destabilised West and Central Africa over the past three years. With the Niger putschist adamant to hold on to power, ECOWAS sent diplomatic missions in order to peacefully restore democracy to Niger, but to no avail.

During a summit held in Abuja, Nigeria, ECOWAS deliberated on the possibility of military intervention and issued a one-week ultimatum to pressure the junta into reinstating Bazoum. The junta-led states, Burkina Faso, Guinea, and Mali declared their support for the Nigerien coupist and made it clear that they would not comply with any sanctions imposed on Niger. Furthermore, Burkina Faso and Mali jointly cautioned that any military intervention in Niger would be construed as a declaration of war against their countries. These supportive reactions from the junta-led states have set the stage for a more pronounced rift within the West African bloc and the potential for its dissolution.

Yielding to pressure both at home and internationally that war with neighbouring Niger will have catastrophic effects in Nigeria, President Tinubu abandoned all plans to forcefully invade Niger in efforts to restore democracy. He has opted for the more diplomatic approach to negotiate the restoration of constitutional order in Niger Republic with the ruling junta.

Coming just over a month after Niger’s coup was the overthrowing of

Gabon’s Leader, President Ali Bongo on the 30th of August 2023 by members of the Gabonese armed forces. The coup came moments after Ali Bongo was declared winner of a highly fraudulent election which saw a crackdown on opposition members and a shutdown of internet facilities to the public. Reacting to the coup in the Central African nation, Tinubu mentioned that he was “watching developments unfolding in Gabon very closely and with deep concern for the country’s socio-political stability” and at the “seeming autocratic contagion appearing to spread to other parts of the African continent.”

Another major foreign policy development which happened late in President Tinubu’s first 100 days as president was his recall of all career and non-career ambassadors from their duty posts worldwide.  The President, having set a deadline of October 31 for the return of ambassadors to Abuja, had exempted Nigeria's Permanent Representatives to the United Nations in New York and Geneva from this comprehensive recall, taking into account the forthcoming United Nations General Assembly later in the month of September. In January 2021, former President Muhammadu Buhari approved the appointment of a total of 95 ambassadors, including 42 non-career diplomats whose nominations were ratified by the Senate in July 2020.

Tinubu's directive, as conveyed in a statement released in Abuja by his spokesperson, Ajuri Ngelale, was prompted by a thorough assessment of the current conditions at Nigerian Consulate Offices and Embassies around the world. The statement further emphasized that this latest action aligns with the President's Renewed Hope agenda, as he is resolute in ensuring that foreign and domestic service delivery to citizens, residents, and prospective visitors alike will be characterized by world-class efficiency and quality from this point forward. As per the President's directive, the recall of the affected officers is effective immediately.

E. Ministerial Appointments

President Bola Tinubu’s ministerial appointments are a critical mechanism for realizing his policy and administrative objectives. These ministers serve as the hands-on leaders of Federal Government ministries and parastatals- and are responsible for shaping and executing policies that align with his vision. They are expected to bring their expertise and knowledge to the table, ensuring informed decision-making, effective resource allocation, and coordinated efforts across the government. Additionally, ministers play a vital role in advocating for legislation that supports the President's agenda, representing the government both domestically and internationally, and communicating policies to the public. Their contributions are central to achieving the President's goals, fostering national unity, and addressing the complex challenges facing the country.

On Monday, 21 August 2023, President Tinubu inaugurated 45 ministers into his cabinet, the highest amount appointed by a president in Nigeria’s history. The inauguration ceremony came after each minister was screened and cleared by the Godswill Akpabio-led senate, which occurred after Tinubu's submission of the names of 48 ministerial nominees to the Upper Chamber. Notable absentees from the list of appointed ministers who were not yet cleared as of the end of August by the senate include Tinubu’s political ally and former governor of Kaduna State Mallam Nasir El-rufai, others are Senator Abubakar Danladi, the former deputy governor of Taraba State; and Stella Okotete, from Delta State.

Below is the full list of ministers inaugurated on the 21st of August 2023;

F. Executive Orders

President Bola Ahmed Tinubu on July 6th, 2023 issued four Executive Orders aimed at temporarily halting specific fiscal policies outlined in the Finance Act 2023 and the 2023 Fiscal Policy Measures (FPM), both of which were signed into law earlier by former President Buhari before his departure from office. These orders encompass the following measures:

i. The Finance Act (Effective Date Variation) Order, 2023, which delays the Act's effective date from May 1st to September 1st, 2023.

ii. The Customs, Excise Tariff (Variation) Amendment Order, 2023, which postpones the implementation date of the tax from March 27th to August 1st, 2023.

iii. An order suspending the 5% excise tax imposed on telecommunication services and the upward adjustment of excise duties on domestically manufactured goods.

iv. An order suspending Green Taxes, specifically in the form of import tax adjustment levies on certain vehicles and excise taxes on single-use plastics.

Other Notable Events/Actions taken during this time include-

G. June 13- Senator Godswill Akpabio and Hon Tajudeen Abass are elected Senate President and Speaker of the House of Assembly respectively.

H. June 14- Suspension and Arrest of EFCC Chairman, Abdulrasheed Bawa.

I. June 16- Approval by President Bola Tinubu to dissolve the Governing Boards of all Federal Government Parastatals, Agencies, Institutions, and Government-Owned Companies.

J. June 26- The Federal Government through the Presidential Committee on Salaries withdraws funding of Professional Bodies.

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Legislation

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Being a former senator himself, PBAT is no newcomer to legislative proceedings. President Tinubu since assumption has signed 4 bills into law; they are:

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1. Judicial Officers Law

The judicial officer's bill, signed on the 8th of June by President Tinubu 10 days into office, was his first piece of legislation assented to. The bill which was sponsored by the Chairman of the Senate Ad hoc Committee on Constitution Review, Ovie Omo-Agege, was in line with provisions of the Authentication Act. Presented by the 9th assembly, the bill sought to amend the 1999 constitution, by harmonizing the retirement age of judges in lower courts with that of superior courts. Until recently, judges serving in the state and federal high courts were required to retire upon reaching the age of 65. Likewise, judges presiding over the National Industrial Court and Sharia and customary courts of appeal had a mandatory retirement age of 65. However, judges serving at both the Court of Appeal and the Supreme Court enjoyed the privilege of serving until the age of 70. The bill, which President Tinubu signed into law has raised the retirement age for judges in the lower courts from 65 to 70. This adjustment aligns the retirement age for lower court judges with that of their counterparts in the Court of Appeal and the Supreme Court.

2. Electricity Act-

Seeking to promote private sector investments in Nigeria’s power sector, President Tinubu signed the Electricity Act into law on the 9th of June 2023. The bill’s primary objective is to create a comprehensive legal and institutional framework to guide the Nigeria Electricity Supply Industry (NESI), de-monopolise the generation, transmission, and distribution of electricity at the national level, and empower States, companies and individuals to generate, transmit and distribute electricity. According to the Nigeria Electricity Bill, electricity generation license holders are required to fulfill renewable generation obligations as outlined by NERC. This implies that electricity-generating companies must either generate power from renewable energy sources, procure power generated from renewables, or obtain instruments representing renewable energy generation.

The Act also permits individuals or entities to construct, own, or operate electricity generation undertakings not exceeding 1 megawatt (MW) in total capacity at a site or electricity distribution undertakings with a capacity not exceeding 100 kilowatts (Kw) in total at a site, or any other capacity as determined by the Commission. This can be done without the need for a license. Nigeria's journey to this point began with clarifying the constitutional position, recognizing joint regulatory powers, and culminated in a constitutional amendment signed into law by former President Muhammadu Buhari in March.

Meanwhile, there is optimism among Nigerians regarding the ongoing constitutional amendment that seeks to grant more authority to the states, particularly in the realm of electricity. The proposed amendment aims to decentralize electricity distribution, which is anticipated to significantly enhance access to electricity nationwide. The amendment proposes that states can independently generate, distribute, and transmit power within their borders. This empowerment of state governments is expected to facilitate improvements in power generation and distribution, ultimately addressing longstanding challenges in ensuring reliable electricity supply.

Nigeria, with a population exceeding 200 million, has grappled with inadequate power supply for many years. Despite having an installed generation capacity of over 13,000 MW, the country typically generates only about 4,500 MW, falling far short of demand. The new Act is anticipated to alleviate grid instability, a major contributor to frequent blackouts. With greater decentralization of power supply, states not connected to the national grid will have increased opportunities to generate their electricity and collaborate with neighbouring states.

The move towards a decentralized power supply is poised to have a significant impact on job creation. It is expected to generate employment opportunities in power production, distribution, maintenance, and the development of renewable energy sources.

3. Student Loan Act

President Tinubu 14 days after his inauguration on Monday, June 12th, 2023, signed the Student Loan Bill into Act. The bill which was proposed to the House of Representatives by Rt Hon. Femi Gbajabiamila was passed just 2 weeks before the expiration of the 9th assembly. The act establishes and gives power to the Nigerian Education Loan Fund (NELF) to supervise, manage, and disburse interest-free student loans to qualified individuals learning in Higher Institutions in Nigeria. The loan is supposed to increase access to education for low-income households and break the financial barrier involved. As per the Act, the NELF applies only to tuition fees and it will get its funding from various sources including an Education Bond, donations through an education endowment fund, and a percentage of specific government taxes and revenue etc. The establishment of this fund has received mixed views from citizens, with some people criticizing the absurd eligibility criteria for the loan, also The penalties for defaulting have also been deemed harsh as it include hefty fines and a prison sentence. All-in-all, the signage of the Student Loan Bill into law is a step in the right direction for President Tinubu, as it shows commitment to fulfilling his promise. The Nigerian Education Loan Fund is set to begin processing applications before the end of 2023.

4. Data Protection Law-

On June 12, 2023, the Nigeria Data Protection Bill was officially signed into law by PBAT.  The new Act provides a legal framework for the regulation of personal data in Nigeria, which was erstwhile provided for by the Nigerian Data Protection Regulations (NDPR), 2019, under the National Information Technology Development Agency (NITDA) Act. The bill establishes the Nigeria Data Protection Commission (NDPC) which will be led by a national commissioner to control how personal data is processed.

The objectives of the Act encompass several key elements, including the protection of fundamental rights, freedoms, and interests guaranteed under the 1999 Constitution of the Federal Republic of Nigeria.

Below are a few features of the Act:

1. The Act seeks to regulate the processing of personal data to ensure that it is conducted in a fair, lawful, and accountable manner. It places a strong emphasis on safeguarding the rights of data subjects and provides mechanisms for recourse and remedies in the event of a breach of these rights. The Act applies to all natural persons, both Nigerian residents and those residing outside Nigeria.

2. The Data Protection Act primarily applies to data controllers or processors operating within Nigeria, as well as in situations where data controllers or processors outside Nigeria process personal data of Nigerian data subjects.

3. The Act defines and safeguards the rights of data subjects, including the right to consent and protection against automated decision-making. It outlines rules for the transfer of personal data outside Nigeria, requiring legal bases for such transfers and adequate protection for Nigerian data subjects.

4. Finally, In the event of a data breach that poses a high risk to data subjects' rights and freedoms, the Act mandates data controllers to promptly notify affected data subjects, providing guidance on mitigating potential adverse effects.

In summary, the signing of the Data Protection Bill by President Bola Tinubu enhances privacy, security, and accountability in the handling of personal data. It promotes trust, economic growth, and international cooperation while empowering individuals to control their data. Overall, it is a crucial framework for the responsible and ethical use of data in today’s digital age.

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PBAT’s Promise Commitments in his initial 100-days.

During his campaign to become the president of the Federal Republic of Nigeria, President Bola Ahmed Tinubu made promises aimed at rebuilding Nigeria and steering the nation in the right direction. Some of these promises were short-term promises i.e., the duration for implementation short as we feel they can be attended to before the first 100 days in office elapse. Below are the short-term promises and how the government fared in implementing them:

1. ACHIEVE FULL DEREGULATION OF MIDSTREAM GAS PRICES WITHIN 6 MONTHS: No concrete steps have been taken to make this a reality.

2. WE SHALL PHASE OUT THE FUEL SUBSIDY: The president on his first day in office during his Inaugural speech removed fuel subsidies thereby deregulating the pricing of petrol, the promise is therefore rated KEPT. However, this move has caused untold hardship for the citizens of the country due to the sudden astronomical increase in the price of petrol which is mostly used to power generators, cars and other machinery which is used for daily activities within the country.

3. WE WILL INSTITUTE A PILOT STUDENT LOAN REGIME LIKE THE PROGRAM ESTABLISHED BY THE LAGOS AND KADUNA STATE GOVERNMENTS: On the 12th of June 2023, the Students Loans (Access to Higher Education) Act, 2023 was passed into law with the assent of the President, Bola Ahmed Tinubu. Although the loan act has been passed, we haven’t seen any concrete steps and formality towards its implementation. This promise is still IN THE WORKS.

4. A TINUBU GOVERNMENT WILL ESTABLISH AND SEED FUND AN ATHLETES’ WELFARE FUND: No concrete steps have been taken to make this a reality.

5. YOUTH ADVISORY COUNCIL: INAUGURATE A YOUTH ADVISORY COUNCIL TO THE EMPLOYMENT ACTION PLAN WHICH WE WILL DEVELOP: No concrete steps have been taken to make this a reality, as the council have not been constituted and inaugurated.

6. RESERVE AT LEAST THREE CABINET POSITIONS FOR PERSONS UNDER THE AGE OF 40 AND 6 MORE POSITIONS FOR MEMBERS UNDER THE AGE OF 50: From the composition of the President’s cabinet, it is established that this promise is COMPROMISED, as he failed to meet the number he set during his campaign. Although falling on deaf ears, AdvoKC, through reminder letters and social media posts, tried to remind the president of his commitment to youth inclusion in his cabinet.

7. WE SHALL ALSO PASS A PRESIDENTIAL DIRECTIVE REQUIRING THAT AT LEAST 20 PERCENT OF POLITICAL APPOINTMENTS TO MDAS BE RESERVED FOR QUALIFIED PEOPLE UNDER THE AGE OF FORTY: No concrete steps have been taken to achieve this. This is an important promise in integrating the youth into the political space of the MDAs and the governance process, as the youth make up a large number of Nigeria’s working and voting population.

8. OUR GOVERNMENT SHALL REVIEW ALL COMPLAINTS ABOUT MULTIPLE TAXATION: On August 8th, 2023, President Tinubu Inaugurated the Tax reform and Fiscal Policy committee to look at ways to reform and improve the existing tax laws and revenue agencies to be more efficient. This promise is KEPT. It is also noteworthy to mention that Tinubu in an effort to alleviate the burden of multiple taxation suspended specific fiscal policies outlined in the Finance Act 2023 and the 2023 Fiscal Policy Measures (FPM).

9. WE SHALL ENSURE THAT INVESTORS AND FOREIGN BUSINESSES REPATRIATE THEIR HARD-EARNED DIVIDENDS AND PROFITS HOME: In July, a bilateral agreement was struck between the central banks of Nigeria and Ethiopia to exchange $100 million in funds that had been held up due to foreign currency shortages in both nations. As reported by Ethiopian news outlet The Reporter, the arrangement involves the mutual exchange of funds from Nigeria-based Dangote Cement and Ethiopia's Ethiopian Airlines. Specifically, Ethiopian Airlines is set to swap $100 million from its total of $180 million in blocked funds in Nigeria for Ethiopian birr provided by Dangote Cement, Ethiopia. Although this promise has been partially fulfilled with investors like Ethiopian Airways receiving their blocked funds in a swap deal, it is still largely “Broken” as most investors still have funds stuck in Nigeria due to forex scarcity.

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Altogether, of the nine short-term promises highlighted, PBAT was only able to fulfil two (2), with One (1) promise “Compromised”, and another One (1) rated “In the works” as he has laid its groundwork. The other five (5) promises as of the 100-day mark have not been kept, due to a lack of political will or administrative restraints. These promises as earlier stated are paramount and deserve to be acted upon and most suitably completed within his first year in office as it is an auspicious time to deal with such issues.

The impact of the removal of subsidy has been felt around the country as the price of basic goods have gone up and wages have stagnated, the palliative measures by the FG to cushion the effect of the removal of subsidy have been slow and abysmal, as most state governments made a mockery of the initiative by not sharing the palliative materials immediately or in cases, they are shared it is in small or negligible quantity. This lack of firm action from the government have drawn ire from the people as they don’t see the efforts of the government in cushioning the effects of the subsidy removed.

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