All is now set for the inauguration of Asiwaju Bola Ahmed Tinubu as the 16th president of Nigeria with about 65 other world leaders on ground to witness the occasion.
The historic event comes even as 18 new governors-elect across various political parties will today take oath of office to pilot affairs in their various states.
Abuja, the Federal Capital Territory (FCT) has become a beehive of activities as Nigerians of all walks of life gather to witness a change of baton after eight years of President Muhamadu Buhari’s administration to Asiwaju Bola Ahmed Tinubu.
Tinubu’s inauguration will be a continuation of the All Progressives Congress (APC) administration which came on board after Buhari won the 2015 presidential poll against former President Goodluck Jonathan of the PDP.
But after today’s event, Tinubu will go down in history as the 16th president of Nigeria amid concerns and reservations in many quarters.
Nigerians are full of expectations that the former Lagos governor will hit the ground running to face the myriad of challenges facing the country including scary insecurity to lives and property, a hugely divided nation, dwindling fortunes of the economy with about N77 trillion debt overhang, decaying infrastructure among others.
The historic event will also be witnessed across the states as 18 new governors-elect will almost simultaneously also take oath of office to pilot affairs in their various states.
The states where new governors would be sworn-in today include, Abia, Ebonyi, Enugu, Akwa-Ibom, Delta, Cross River, Rivers, Benue, Niger, Taraba and Plateau states. Others are Kaduna, Kano, Katsina, Jigawa, Sokoto, Kebbi, and Zamfara states.
After arguably the most challenging eight years of Buhari’s administration, Nigerians are anxious and full of expectations from the new president and governors.
For the governors, the euphoria of the inauguration would soon evaporate and give way to the reality on ground. As the saying goes, elections are over; it is time for governance.
All the newly elected governors will have a difficult time boosting the economies of their individual states as they will take over at least N2.1 trillion in domestic debt and $1.9 billion in foreign debt from their predecessors.
Ranging from heaps of debts, to dwindling revenues, unsustainable wages to poorly-equipped civil servants and dead assets, as well as loads of contingent liabilities, the incoming governors already have their jobs clearly cut out for them.
In reality, the take off may not be rosy and smooth for the majority of them as legacy fiscal burdens wait patiently for their resumption. While some of them may be looking forward to making exceptional marks in the affairs of the states to stand a chance of re-election or scale up their credentials for higher offices, others would be confronted with myriads of decade-old challenges created by their predecessors and the onus would be on them to crack the knotty issues.
Agreed that loans are a major source of financing public expenditure but the outgoing governors are leaving behind huge debts, which could potentially impede the debt sustainability risks of most of the states.
Some of the debts according to analysts, date back to pre 1999 but the incumbents have made the already-bad situation worse with ill-conceived debts, such as salary supports, whose tenures span over two decades.
Information from the Debt Management Office (DMO) reveals that overall, the 18 governors that have completed their constitutionally guaranteed two tenures, including Bello Matawalle of Zamfara State, who could not secure re-election, will bequeath over N3.2 trillion to their successors, the incoming governors. In a recent report, the DMO listed Katsina, Taraba and Rivers as states, whose debt submissions were last updated on September 30, 2022, or September 30, 2021.
A state by state analysis of the challenges ahead of the incoming governors would suffice.
Akwa-Ibom
Udom’s Emmanuel’s Akwa-Ibom State as at December 31, 2020, had outstanding pensions and gratuities of about N28.98 billion, with liabilities to contractors estimated at N64.78 billion. From statistics, it is alleged that since the net contingent liabilities of the state in the last two years were zero and Emmanuel’s administration has not added to the conventional debt stock since the beginning of the year, the total financial liabilities he would be leaving behind for the incoming Governor Umo Eno, will be in the neighbourhood of N337.2 billion. It is also on record that Akwa Ibom is still servicing foreign facilities incurred during the military era at N22/$, meaning that the incoming governor will have to think outside the box to stabilize the state’s economy and give the people the needed democracy dividends.
Taraba
Taraba State Governor, Darius Ishaku will be leaving for his successor, Agbu Kefas, a state described by the DMO as the least indebted states out of the 36 states of the federation.
Figures from the DMO show that the state has the lowest debt among the 36 states with only $20.7 million and N106 billion domestic and foreign debts respectively.
One can correctly predict that the incoming governor will not have any reason to lag behind as his predecessor has already prepared the ground for him to start on a clean slate.
Rivers
Though Rivers is touted to be one of the best performing states in terms of provision of infrastructure and social amenities, Governor Nyesom Wike, according to report by the National Bureau of Statistics, will be leaving about N225.51 billion and $147.78 million domestic and foreign debts for his successor, Siminalaya Fubara.
Rivers is adjudged as one of the five states that accounts for 34.98 percent of the total domestic debts owed by the sub-national government. Apart from the heavy financial burden from the previous administration, Fubara would also be faced with the dilemma of either inheriting Wike’s political enemies in the Peoples Democratic Party (PDP) both at the state and national level or making peace with them and bringing the state back to the party’s fold fully.
Whatever his decision might be according to close watchers of political developments in the state would go a long way in helping him give the people the desired good governance.
However, as one of the oil producing states, the oil revenue and Internally Generated Revenue (IGR) base of the states plus the Value Added Taxes, will help the incoming governor to find his feet and reposition the state for greater development.
Enugu
Governor Ifeanyi Ugwuanyi of Enugu State will be leaving behind a debt burden of N89.89 trillion and $123.02 as local and foreign debts for his successor, Mr. Peter Mbah.
The incoming governor, apart from the heavy debt burden, is also fighting to retain his position at the election petition tribunal, where the candidate of the Labour Party (LP), Chijioke Edeoga, is seriously pushing for his disqualification on grounds of certificate forgery. Edeoga is also trying to prove before the election tribunal that he, and not Mbah, won the election. This is one challenge that Mbah would have to surmount before facing the huge debt burden left for him by his predecessor. This he must achieve in record time to be able to give the people of Enugu the much desired dividends of democracy.
Abia
All eyes are on Alex Otti who won the governorship election on the platform of the Labour Party (LP) to take the state to the next level. The people of the state which had been controlled by the PDP since 1999 are anxious for a breadth of fresh air. Their expectation is that the new government will be a departure from the past in terms of delivery of democracy dividends to the people.
Benue
In the state known for its agricultural potential, power is changing hands from the PDP to the APC.
Benue State in particular will witness the inauguration of a clergyman as governor for the second time and transition from a ruling party to an opposition for the second time too. This is why the Benue Valley is agog.
But beyond the funfair, there are herculean tasks that the incoming governor, Rev. Fr. Hyacinth Alia must perform to restore the state on the path of development. One of them and the most crucial is finding a permanent solution to farmers/herders clashes.
There is no gainsaying that insecurity is the major challenge of Benue and farmers/herders clashes form the bulk of it.
Ebonyi
The governor-elect, Francis Nwifuru Ebonyi has to contend with the state’s debt profile of N41. 6 billion as at 31 March 2022, according to data released by Debt Management Office despite the fact that his predecessor, Dave Umahi tried to uplift the state in terms of infrastructural development.
Also, Nwifuru has to find a way to play politics with a human face unlike Umahi who in the estimation of many ran the state as a dictator.
Sokoto
Ahmed Aliyu who will take charge after eight years of Aminu Tambuwal will have to fight to give all political divides in the state a sense of belonging. Aliyu who is of the APC and supported by former Governor Aliyu Wamakko has to contend with the political forces of Tambuwal and former governor Bafarawa.
Tambuwal, who will complete his eight-year two-term tenure, will hand over Sokoto to Ahmed Aliyu of the APC a total of N85,584,818,029.23 in domestic debt and $37,127,361.58 foreign debt.
Kano
The people of the state expect a positive change in the administration of Engr. Abba Kabir Yusuf. Over time, the people have been disenchanted by the state of the various sectors of the Kano economy.
Also, the state under Ibrahim Ganduje was so much politicized and the new governor under the New Nigerian Peoples Party(NNPP) needs to work round the clock to unite the state.
The state is also contending with a high debt profile. According to available record obtained from the website of the Debt Management Office (DMO), Kano State’s domestic debt profile alone as of March 31, 2022, hit N127,847,657,184.82
Kaduna
The greatest challenge that Malam Uba Sani will contend with is how to curb the deteriorating security situation in the state. Under his predecessor, Mallam El-rufai, the state literally turned into a killing field with accusation and counter accusation between the Muslim and the Christian communities in the state.
Also, the reforms carried out in primary education by El-rufai, many believe should be hurriedly reviewed. Many schools are still battling with inadequate teachers as those recruited to replace the sacked ones seemed grossly inadequate. This has seriously affected the development of education in the state.
So, the governor-elect should scale up massive recruitment of teachers to augment or bridge the shortage of teachers in the state.
The governor-elect should also now prioritize rural areas. The presence of government in rural areas is not much felt and the new government should ensure a paradigm shift from urban to rural renewal projects.
Delta
Delta State’s domestic debt is presently at N154. 6 billion while its foreign debt is at $61.4 million. It is one of the major challenges that Ifeanyi Okowa’s successor, Oborevwori will contend with.
Many are also wondering where Oborevwori will find the political will to build a diversified and self-reliant economy that will withstand the shocks occasioned by the current physical, social and economic challenges that have become a recurring decimal in the state.
Cross River
Mr Bassey Edet Otu who won the governorship poll on the platform of the APC is taking over from Prof Ayade who many perceive overpromised and under-delivered.
This is despite the fact that the state’s debt profile hit N167 billion before the expiration of Ayade’s tenure
The figure, it was gathered, excludes the N40 billion bond floated by the immediate past government which is currently quoted on the Nigerian Stock Exchange.
Niger
The incoming governor, Umar Bago of the APC will have to contend with the Niger State Government debt profile which stands at about N57.9 billion in foreign and local debts.
The Director General of the State Debt Management Office, Umaru Abubakar, disclosed this during an interface with the Special House Committee on Sukuk bond.
Mr Abubakar said the domestic debt stood at N40.573 billion while the external debt was N17.353 billion.
Apart from the debt profile, Bago also has to work hard to deal with the increasing cases of banditry in the state.
Katsina
The Governor-elect, Dr Dikko Umaru Radda is expected to begin by tackling the problem of insecurity in the state as well as addressing the root causes of poverty.
Majority of the people hope that Radda should focus more on rural dwellers, because that is where the problems in Katsina are more rampant.
For him to succeed, he should leave the urban areas and move to the rural areas and help them get potable drinking water, education, agriculture, and more that will better their a lot, which will help in reducing the problems of insecurity.
The Man Tinubu
Senator Bola Ahmed Tinubu (GCFR), who will be inaugurated today, May 29, as the 16th democratically elected president of the Federal Republic of Nigeria is an accountant turned politician.
Born March 29, 1952, some 71 years ago, his early life was spent in South Western Nigeria, before he moved to the United States of America, where he completed his undergraduate studies in Accounting first at Richard J. Daley College in Chicago and then Chicago State University. He graduated in 1979 with a Bachelor of Science degree in Accounting. Although his year of birth has sometimes been disputed by his political opponents, who have argued that he is much older than 71, some reliable sources note that his age has not been verified.
Early career
Tinubu worked for the American companies, Arthur Andersen, Deloitte and GTE Services Corporation, before he returned to Nigeria in the early 1990s to join Mobil Nigeria as an accountant. He later jumped into the murky waters of Nigerian politics, when he joined the Social Democratic Party (SDP).
Early political career
Tinubu’s political journey began in 1991, when he joined the Social Democratic Party. In 1992, he was elected to the Senate, where he represented the Lagos West senatorial district in the short-lived Nigerian Third Republic.
After the results of the June 12, 1993 presidential elections were annulled, Tinubu became a founding member of the pro-democracy movement, the National Democratic Coalition; a group that mobilized support for the restoration of democracy and recognition of Moshood Abiola as the winner of the June 12 election. Following the seizure of power by Gen Sani Abacha as Head of state, Tinubu went into exile in 1994. He returned to the country in 1998 after Abacha’s death, which ushered in the transition to the Fourth Nigerian Republic.
In the run-up to the 1999 elections, Tinubu was a protégé of the Alliance for Democracy (AD) leaders Abraham Adesanya and Ayo Adebanjo. He went on to win the AD primaries for the Lagos State governorship elections, defeating Funsho Williams and Wahab Dosunmu, who is a former Minister of Works and Housing. In January 1999, he stood for the position of Governor of Lagos State on the AD ticket and he won the governorship election with a wide margin. He finished his first term in 2003 and was reelected for a second, which he finished in 2007. After he left office in 2007, he played a key role in the merger that led to the formation of the All Progressives Congress (APC) in 2013, and in 2015, the party went ahead to defeat the then ruling Peoples Democratic Party (PDP).
Post-governorship
In 2006, Tinubu attempted to persuade the then-vice president of Nigeria, Atiku Abubakar, to become the head of his party, the Action Congress (AC). Atiku, who was a member of the People’s Democratic Party (PDP), had recently fallen out with President Olusegun Obasanjo over his ambition to succeed Obasanjo as president. Tinubu offered Atiku the chance to switch parties and join the AC, offering him the party’s presidential candidacy, with the condition that he, Tinubu, would be Atiku’s running mate. Atiku declined the proposition, and having switched to the AC, chose a running mate from the South East, Senator Ben Obi. Although Atiku ran for office on Tinubu’s platform in the election, the PDP still won in a landslide.
In 2009, following the landslide victory of the PDP in the April 2007 elections, Tinubu became involved in negotiations to bring together the fragmented opposition parties into a “mega-party” capable of challenging the then ruling PDP. In February 2013, Tinubu was among several politicians, who created a “mega opposition” party with the merger of Nigeria’s three biggest opposition parties – the Action Congress of Nigeria (ACN), the Congress for Progressive Change (CPC), the All Nigeria Peoples Party (ANPP), a faction of the All Progressives Grand Alliance (APGA) and the new PDP (nPDP), a faction of the then ruling PDP, into the All Progressives Congress (APC).
In 2014, Tinubu supported former military head of state, General Muhammadu Buhari, leader of the CPC faction of the APC, who commanded widespread following in Northern Nigeria, and had previously contested in the 2003, 2007 and 2011 presidential elections as the CPC presidential candidate. Tinubu initially wanted to become Buhari’s vice presidential candidate, but later conceded to Yemi Osibanjo, his ally and former commissioner of justice. In 2015, Buhari rode on APC’s back to victory, ending the 16-year rule of the PDP, and marking the first time an incumbent Nigerian president lost to an opposition candidate.
Tinubu went on to play an important role in the Buhari administration, supporting government policies and holding onto the internal party reins, in lieu of his long-held rumoured presidential aspiration. In 2019, he supported Buhari’s re-election campaign defeating the PDP candidate, Atiku Abubakar. In 2020, following an internal party crisis, which led to the removal of Tinubu’s ally and party chairman, Adams Oshiomole, it is believed the move was to scuttle Tinubu’s presidential prospects ahead of 2023.
However, on January 10, 2022, Tinubu formally declared his intention to contest for the APC presidential primaries. On June 8, 2022, he won the party’s presidential ticket, scoring 1,271 to defeat Vice President Yemi Osinbajo and Rotimi Amaechi who scored 235 and 316 respectively.
On March 1, 2023, the Independent National Electoral Commission (INEC), declared Tinubu winner of the February 25, 2023 presidential election. He was declared president-elect after he polled 8,794,726 votes to defeat his opponents, Atiku Abubakar of the opposition PDP, who polled 6,984,520 votes and Labour Party’s (LP) Peter Obi who had 6,101,533 votes to place third. He remained the National Leader of the party, until March 2023, when he was declared Nigeria’s president-elect.
He is happily married to current Senator representing the good people of Lagos Central Senatorial district, Oluremi Tinubu and the marriage is blessed with children.
Source: The Sun
