Zacch Adedeji and the Common Man

Mr. Frank Olize, the renowned broadcaster from the 1980s and 1990s, embarked on a journey across Nigeria to discover the essence of the "common man." This term, commonly used to describe a person's economic status, is both flexible and debatable. Many individuals, including the controversial former president, Chief MKO Abiola, claimed to be the "common man."

Abiola, once a wealthy philanthropist, had made considerable efforts to aid the "common man" in various states of the federation through his charitable endeavors. Abiola ultimately emerged victorious in the June 12, 1993 presidential election, which was later annulled. The notion of the "common man" resurfaced recently when Dr. Zacch Adedeji, the executive chairman of the Nigeria Revenue Service (NRS), addressed questions from Channels TV's Seun Okinbaloye.

Adedeji was asked why the "common man" was not benefiting from the reforms initiated by President Bola Tinubu, despite improvements in macro-economic indicators. Adedeji provided a list of benefits, including the doubling of the minimum wage, increased allocations to states and local government areas, fiscal turnaround, prompt salary payments, student loans through NELFUND, and job creation through infrastructure investment.

He questioned the validity of the claim that the "common man" was not reaping the rewards of economic growth and revenue improvements. Adedeji emphasized that companies thriving in the stock market, construction workers on major roads, and numerous Nigerians employed in infrastructure projects were not the "common man" who was suffering.

He dismissed the notion that Tinubu was practicing voodoo economics and stressed that reforms were essential, even though they inevitably caused hardship. Adedeji acknowledged that while poverty rates had increased in the past three years, they could have been worse without the reforms. He argued that the cancer of poverty would have worsened without the necessary "surgery" and "chemotherapy" provided by the reforms.

However, he also highlighted that the reforms represented just the beginning of an economic turnaround, and significant progress in job creation and poverty reduction would require further efforts. Adedeji emphasized that states and local government areas should leverage increased revenue to improve the lives of their citizens and create a conducive environment for productive activities, such as manufacturing and small and medium-scale businesses.