By Chesa Chesa
The Minister of Solid Minerals Development, Dele Alake, has urged Nigerians to remain patient with the economic reforms of President Bola Tinubu, saying the country needs policy consistency rather than another “reset” of the reforms.
Alake spoke on Wednesday in Abuja during an interaction with journalists, where he defended the administration’s economic policies, including the removal of fuel subsidy, and argued that the reforms had begun producing results at both macroeconomic and household levels.
He said Nigeria’s economic challenges were the consequences of years of accumulated distortions which could not be corrected overnight.
According to him, previous administrations were aware of the need for difficult economic decisions but often avoided them because of their potential political consequences.
“The only thing lacking was the courage to take those decisions,” he said, arguing that the Tinubu administration had demonstrated the political will to tackle the problems.
Alake said the removal of fuel subsidy was one such decision, stressing that there would never have been a “right time” to undertake the reform if the government continued to postpone it for fear of public reaction.
“When you are in a hole, what do you do? You stop digging. Because the more you dig, the deeper you sink,” he said.
The minister dismissed arguments that the subsidy removal was poorly timed, saying continuing to subsidise fuel would have worsened the country’s economic crisis.
He explained that the subsidy regime disproportionately benefited wealthy Nigerians, fuel cartels and smugglers, rather than the majority of poor Nigerians.
According to him, individuals and families with several vehicles benefited more from subsidised petrol, while smugglers purchased subsidised products and moved them across Nigeria’s borders for huge profits.
Alake also recalled that, before the reforms, several states struggled to pay workers’ salaries, while the Federal Government had to borrow to meet its obligations.
He said funds previously committed to fuel subsidy could now be redirected towards infrastructure and other productive sectors of the economy.
The minister likened the reforms to the process of repairing a damaged vehicle, saying development inevitably involves some pain before the benefits become visible.
“If your car has a dent, what do you do? You take it to the panel beater,” he said, adding that the process could be painful but would ultimately restore the vehicle.
He also rejected criticism that the reforms were taking too long to produce results, explaining that economic policies required a “gestation period” before their full impact could be felt.
According to him, governments must formulate policies, mobilise financial and human resources, take account of challenges during implementation and monitor their outcomes.
“You can’t announce a policy today, conceptualize a policy today, and expect the results to manifest tomorrow,” he said.
Alake cited the Nigerian Education Loan Fund (NELFUND) as an example of how the reforms were already producing benefits at the microeconomic level.
He said Nigerians who did not have children in tertiary institutions might not immediately appreciate the impact of NELFUND, but parents whose children were beneficiaries were already experiencing reduced financial pressure.
“Students have access to loans. So the issue of, ‘Oh, I’m dropping out of school because my parents cannot afford it’ is no longer there,” he said.
The minister also pointed to the monthly allowances being provided to beneficiaries as another example of how the reforms were translating into direct benefits for Nigerians.
He said the macroeconomic gains recorded by the administration had been acknowledged by both local and international rating agencies, but stressed that the benefits would continue to spread across different sectors as implementation progressed.
Alake further defended Tinubu’s leadership style, rejecting descriptions of the President as a dictator.
He described Tinubu as a democrat and said his assessment was based on personal experience working with him before, during and after his tenure as Lagos State governor.
The minister recalled that when Tinubu assumed office as Lagos governor in 1999, the state’s internally generated revenue was about N600 million monthly, while its civil service wage bill exceeded N1 billion.
He said Tinubu responded by blocking leakages, plugging loopholes and introducing reforms, including computerisation and biometric verification of the state payroll.
According to Alake, the payroll reform saved Lagos about N350 million in its first month and exposed fictitious workers and schools that existed only on the government payroll.
He said the resistance Tinubu encountered in Lagos was similar to the opposition confronting the Federal Government’s current reforms.
“Those who are benefiting from those leakages and loopholes also fought back. Just as we witness in Nigeria today, they fought back vehemently,” he said.
Alake maintained that the same principles were now being applied to the Nigerian economy on a much larger scale.
“What Nigeria needs is consistency. We don’t need a reset now. Because the reforms have come. They are in place. And they are moving ahead,” he declared.
He also challenged political actors seeking to succeed Tinubu in 2027 to demonstrate the achievements they recorded while holding public office, rather than merely criticising the current administration.
The minister urged the media to play a more responsible role in reporting the reforms, warning against allowing individuals with vested interests to use the media to undermine policies designed to address the country’s longstanding economic challenges.
