Nigerian economy under Tinubu: what to expect

Bola Ahmed Tinubu was born on March 29, 1952, in Lagos, Nigeria. He attended St. John’s Primary School, Aroloya, Lagos, and Children’s Home School in Ibadan, Oyo State, Nigeria. Tinubu later moved to the United States, where he earned a Bachelor’s and a Master’s Degree in Business Administration from Chicago State University.

After completing his education, Tinubu worked for several companies, including Arthur Andersen, Deloitte, Haskins & Sells, and GTE Services Corporation. In 1992, he returned to Nigeria to join politics where he become a senator in the National Assembly; Tinubu also joined the pro-democracy movement that fought against military rule in Nigeria.

Tinubu became the Governor of Lagos State in 1999, following Nigeria’s return to democratic rule. During his two terms in office, he implemented several policies that transformed Lagos State and made it one of the most economically vibrant states in Nigeria. His policies focused on improving infrastructure, reducing crime, and attracting foreign investment.

Achievements as Lagos Governor: How Tinubu transformed the state of Lagos

During his time as the Lagos state Governor, Bola Tinubu implemented several policies that had a significant impact on the state. One of his most notable achievements was the implementation of the Lagos State Security Trust Fund, which was designed by Babatunde Raji Fashola in 2007 to reduce crime and improve security in the state of Lagos. The Lagos State Security Trust Fund was made possible following the strong partnership shared between the Tinubu administration and the private sector. The Trust Fund enabled the Lagos state government to purchase equipment and provide training for security personnel, resulting in a significant reduction in crime rates across the state.

Also, Tinubu focused on improving infrastructure in Lagos State. He implemented several projects, including the construction of new roads, bridges, and flyovers, and the rehabilitation of existing infrastructure. These projects improved transportation and connectivity within the state, allowing for ease for people to travel and do business in Lagos.

In addition to his infrastructure and security initiatives, Tinubu implemented policies to attract foreign investment to Lagos State. He established the Lagos State Investment Promotion Agency, which worked to attract foreign companies to the state and create new job opportunities for Lagosians.

Failures and controversies of Tinubu’s rule in Lagos State

Despite his many achievements, Bola Tinubu’s tenure as Lagos Governor was not without controversy. One of the major criticisms of his administration was his alleged high-handedness and authoritarian style of leadership. Some also accused him of cronyism and favouritism, claiming that he only appointed people from his political circle to key positions in the state government while others argue that some decisions made by the past governor remain contentious even to this day.

Tinubu’s decision to introduce the “land use charge” in Lagos State was met with opposition from residents who felt it was incredibly harsh and unfair. The policy, which was introduced in 2001, led to protests and criticisms from various quarters of the state.

Bola Tinubu as President of Nigeria: the good, the bad and the ugly

With Tinubu about to be sworn in as the 16th head of state to Nigeria on May 2023, there are several potential outcomes that could emerge from his administration in the next four years. Based on credible economic and political observations, achievements, and failures of Tinubu as Lagos Governor, we can expect both positive and negative impacts on the country as a whole.

The Good

One of the most significant potential benefits of a Tinubu presidency is his experience in politics and business. The President-elect has a track record of implementing policies that promote economic growth, this could be a significant advantage for Nigeria, which currently faces various economic challenges. The drive of the Tinubu’s Presidential administration is likely to focus on attracting foreign investment, creating jobs, and improving infrastructure, all of which could lead to increased economic prosperity.

Tinubu’s administration is likely to prioritize security, based on his successful steps that led to the implementation of the Lagos State Security Trust Fund during the Raji Fashola’s administration as Lagos Governor. With Nigeria facing ongoing security threats from groups like Boko Haram and other criminal organizations, a focus on improving security could have a significant positive impact on the country.

The President-elect’s experience as a politician doubled with his time in business points to the likelihood of having strong connections and networks both within Nigeria and internationally. This likelihood could be a major advantage for Nigeria in terms of forging strong relationships with other countries and international organizations that could lead to increased aid, investment, and trade.

The Bad

Tinubu’s Presidential administration is likely to face several challenges and potential drawbacks. One of the most significant potential concerns is his leadership style. As Lagos Governor, Tinubu was accused of being authoritarian and high-handed, and some criticized him for being too focused on his political interests rather than ensuring democracy and development all over Lagos state. If the President-elect were to continue this leadership style as President of Nigeria, it could lead to a lack of transparency and accountability and potential corruption.

Another potential issue is Tinubu’s age and ailing health. The President-elect is currently in his seventies, and many argue that he is too old to effectively lead Nigeria in the 21st-century economy filled with increased growth and sporadic change. Additionally, his health has been a concern in the past, and if he were to face health issues while in office, it could lead to political instability and uncertainty.

The Ugly 

The potential negative outcomes of a Tinubu presidency are significant, particularly with regard to his alleged involvement in drug trafficking and thuggery. Tinubu has faced numerous allegations of engaging in these illicit activities, which could have a devastating impact on his administration and the country as a whole.

Drug trafficking is a serious problem in Nigeria, and if Tinubu were found to be involved in this illegal trade, it could damage the country’s reputation. Furthermore, his alleged connections to thuggery and violence could lead to increased political instability and undermine democracy in the country.

Perhaps one major concern by political experts and Nigerians as a whole on Tinubu’s administration is the relationship Tinubu shares with thugs and certain uncivil and divergent people in the society. The somewhat alleged mafia or kingpin relationship of Tinubu with these thugs has been a shameful reality that has plagued the state of Lagos since the reign of Tinubu as Lagos State’s governor. There may be fears as some may expect a spread of this uncivilized mafia culture across the country during the Tinubu administration. 

Moreover, Tinubu’s alleged involvement in drug trafficking and thuggery raises questions about his character and suitability for high office. If these allegations are proven to be true, it means that Tinubu becoming President of Nigeria sends a message that corruption and criminality are acceptable in Nigerian politics, which would be a significant setback for the country’s democratic progress.

Conclusion

The allegations of drug trafficking and thuggery against Tinubu are deeply concerning and could have significant consequences for Nigeria when he is sworn in as President of Nigeria. These issues highlight the need for transparency and accountability in Nigerian politics and the importance of ensuring that those in positions of power are held to the highest ethical and legal standards.

Frequently Asked Questions (FAQs)

What are the potential benefits of a Tinubu presidency?

Increased economic prosperity, improved security, and stronger international relationships.

What are the potential concerns around a Tinubu presidency?

Concerns include his leadership style, age, the potential for corruption, and allegations of drug trafficking and thuggery.

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Richard Okoroafor

Richard Okoroafor

Richard is a brilliant legal content writer who doubles as a finance lawyer. He brings his wealth of legal knowledge in corporate commercial transactions to bear, offering the best value that exceeds expectations.

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