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HomeBUSINESSWith Moribund Economy: Will President Bio make citizens' lives better?

With Moribund Economy: Will President Bio make citizens’ lives better?

Sierra Leoneans, experts say have suffered for some time for quite too long under President Bio’ seven years influence encapsulated with a plethora of challenges, hardships, high cost of living, inflation, and tariff increases in basic social amenities like electricity, water, and telecom services,  removal of subsidies in fuel, electricity, rice and now the restoration of tax on rice, the staple food and the introduction of new taxes on cement, iron rod, and gas at a time when Sierra Leoneans have faced the most severe hardship in the country for decades. President Bio should therefore up his game to make citizens’ lives better.

 However, it would be recalled that the Bio-led Government upon assuming political office in 2018 was aware of the state of the country in respect of the economy but irrespective of that President Bio held the view that he would fix the economy.  During his inauguration at the National Stadium on 10th May 2018, President Bio alluded:  â€˜â€™Fellow Sierra Leoneans, since my election as President on the 4th of April 2018 and despite having inherited the worst economic situation in the country since independence in 1961, I am optimistic that change is possible in Sierra Leone. Since assuming the reigns of state governance, the policies, programs, Presidential Directives, and Executive Orders implemented relating to domestic revenue mobilization; fiscal prudence, and implementing the National Cleaning Day exercise have demonstrated that indeed change is possible in Sierra Leone and that people are ready and prepared for change.

President Bio castigated the Ernest Bai Koroma-led APC Government for destroying the economy and promised to fix it in no time but seven years on, the economy is still moribund, the US Dollars is three times higher than in 2018 from SLL 7000 then, to SLL 23,000 per $ 1 now. three times more than in 2018, fuel, rice, and electricity subsidies were removed making the prices of commodities hit the rooftop, living conditions deplorable and inflation becoming unbearable.  

The state of the economy has provoked public outcry; as it continues to get worse daily with the restoration of tax on rice and the introduction of taxes on cement, Iron rods, and gas.

 â€˜â€™Fellow Sierra Leoneans, in my State Opening of Parliament Address, I set out the main policies and programs of my New Direction administration in the areas of the economy; agriculture; marine resources; tourism; mineral resources; the manufacturing sector; fiscal prudence and domestic revenue mobilization; human and social development; youth development and empowerment; governance; peace, security, and the justice sector’’

 â€˜I am humbled by the trust and confidence the people of this great nation have reposed in me and I will never betray your trust and confidence… If you had asked me to make a birthday wish, I would ask for God’s guidance to lead our country in the paths of those three sacred words of our Coat of Arms: unity, freedom and justice’’ he stated. He furthered thus:

‘’The Audacious Vision of our New Direction revolution is to provide efficient political and economic management of the state and our abundant natural resources for the benefit of all Sierra Leoneans. That is why, the underlying principles of our New Direction agenda are based on Disciplined Leadership, Integrity, Professionalism, Efficiency, and competent service Delivery for the People of Sierra Leone’’

‘’My Government is therefore committed to build on and consolidate the small gains that we have made to change and transform Sierra Leone. I am aware that we have been elected on the ticket for change with huge, if not, immediate expectations to deliver not only basic and essential services but also to bring meaningful change in the lives of the people of Sierra Leone. While the task to change and transform Sierra Leone is monumental, with our collective determination that task is not insurmountable. In Sierra Leone today, everything or sector area is a priority that needs immediate attention; from the dilapidated State House premises to the lack of sustainable electricity supply across the country’’

‘’My new Government is therefore launching 3 peaceful democratic wars: First, a War on Indiscipline; Second, a War on Corruption; and Third, a War on Poverty. These Peaceful democratic wars on Indiscipline, Corruption, and Poverty will define my tenure of Office and I am determined to deliver on my promises. Distinguished Ladies and Gentlemen, I will provide the disciplined leadership to drive and sustain our New Direction revolution. To make this change possible, my Government will tirelessly work for and remain committed to inclusive politics; inclusive development; inclusive economic growth, and inclusive governance. I, therefore, call on our young people, youth, to be at the forefront in promoting our peaceful democratic wars against Indiscipline, Corruption, and Poverty’’

The aforementioned quotes were borrowed from the President’s inauguration speech in 2018, following his assumption of political power.

The question many Sierra Leoneans are asking is: ‘When will President Bio make citizens’ lives better? Political commentators have argued that President Bio has done very little to make Sierra Leonean lives better. Since President Bio took over the reins of government in 2018 the country has been plagued with hardship and nothing seems to move. The country has been caught in a web of crisis, the cost of living is high leading to the August 10 bloody crisis, and the price of petroleum products increased exorbitantly, which in turn has ripple effects on the prices of goods and services, salaries have been pittance as they cannot meet changing times in the country. All these put together do not meet the expectations of the people.

In light of this, President Bio should up his game to meet changing times; as he was voted to cushion the austerity left by the Ernest Bai Koroma APC-led government. According to public opinion, the austerity under the APC Government was far better than the heyday of President Bio, based on the argument that President Bio achieved all his promises during his First Government. If we are to go by the research propagated by IGR, then one would be right to call that period the heyday of the Bio Government.

Despite, President Bio’s assertions to boost the economy and transform the country, it is no secret that subsidy removal in fuel and rice is a thorn in the flesh of citizens. Sierra Leone is still grappling to make ends meet and the country is challenged with frequent increases in fuel price, foreign exchange rate, inflation, and inflation, inability of citizens to purchase power, exacerbated poverty, hardship, and weak currency.

The Bio government has attributed the state of the country to global shocks, which should not be underestimated as probable factors but they are not the only factors for where we are at the moment. They could be contributing factors. The government should stand tall to address the damaging exchange rate, and lack of price control though difficult, there should be a mechanism to ameliorate such an economic trend.

President Bio should up his game to make citizens’ lives better.

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