Bola Tinubu recently became the president-elect of Nigeria, beating his rival, Atiku Abubakar. The country’s current president, Muhammadu Buhari, will step down after serving two terms.
Tinubu is a Muslim from the southern Yoruba community. He is known to be a long-term political kingmaker and one of Nigeria’s richest politicians. He helped the outgoing President Muhammadu Buhari with two terms in office in 2015 and 2019. He served as a Logos governor for two terms after a military rule ended in the region. His role as the president is expected to address the issue of poverty and economic crisis in Nigeria.
Why did President Muhammadu Buhari step down?
There were widespread protests and unrest in the country as people couldn’t get access to cash. And so they couldn’t buy food. The situation occurred as the country rolled out new banknotes. However, the bank notes were not the only issue. There were several issues in the country for quite some time like rising inflation, attack on civilians, etc.
What are the current challenges Bola Tinubu will face in Nigeria?
- Tinubu should first reduce the insecurity among the citizens. The kidnapping for ransom has increased in the country exponentially. The Islamist militant groups have increased in number and so have the attacks on the people in the country.
- The current inflation in the country is 21.8%. Tinubu has to address the rising cost in the country. Around 33% of the population is unemployed. Of these 42.5% are young adults.
What is the current status of Nigeria?
According to World Bank, four out of every 10 people in Nigeria are living in poverty. They lack access to education, electricity, improved sanitation, clean drinking water and several other basic amenities.
Oil in Nigeria
Nigerian petrol is generally classified as “Light and sweet”. The crude oil obtained in Nigeria is called the Bonny light. The bilateral trade between India and Nigeria is 15 billion USD. Nigeria is one of the major countries from where India is importing its oil.
Category: Awards, Honours & Persons in News