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How Tinubu Could Shape GMB’s Government

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Asiwaju Bola Ahmed Tinubu picked the gauntlet and battled the challenges of his rather traumatic and difficult youth with courage only attributable to the lion-hearted.

Today, his relevance in Nigeria is a subject of mixed feelings depending on where you are coming from.

But one thing is certain, he is a hurricane and an important factor in the country’s equation according to this expose by Reuters.

Reuters began by quoting Tinubu as saying that “I am a talent hunter. I put talents in office, I help them,”

The former Lagos state governor and opposition alliance leaders according to Reuters is  being quite open about his role as one of Nigeria’s most powerful political godfathers.

“I use the best hand, the best brain, the best experience for the job,” he told Reuters after voting this month in a governorship election in Nigeria’s economic capital which, as expected, his handpicked candidate Akinwunmi Ambode won.

But it isn’t only in his traditional fiefdom in the ethnic Yoruba southwest that Tinubu has sought to be a kingmaker. His support for former military ruler Muhammadu Buhari was seen as a key factor in the latter’s win against President Goodluck Jonathan in the March 28 presidential election in Africa’s biggest economy and oil producer.

The pro-Buhari alliance that Tinubu headed, the All Progressives Congress (APC), rallied elites around Buhari in the southwest, Nigeria’s wealthiest region. That enabled Buhari to tackle a perception that his support lies only in the dust-blown, largely Muslim north. The religiously mixed southwest had voted overwhelmingly for Jonathan in the 2011 race.

So ‘The Jagaban’, an honorific title beloved of Tinubu’s supporters, could have much say in what reform policies the new government will focus on, and who fills which cabinet posts.

“The party he led is half of the APC. He can … lay claim to that power,” said Clement Nwankwo of the Situation Room civil society group. “Buhari will feel (an) … obligation to him.”

To supporters Tinubu, a Yoruba Muslim, is a wily political operator with a passion for getting the job done and a knack for picking bright, committed technocrats to do it. To critics he is a ruthless godfather who doles out lucrative contracts to his friends’ firms, insists on installing his man in office and is capable of sending in street thugs if he fails to get his way.

The APC, which came to power on anger over corruption and growing insecurity, has declined to speak publicly about policies.

THE JAGABAN

The Nigerian practice of political godfathering has long been criticized by rights campaigners as impeding democracy by enabling powerful oligarchs to capture state institutions.

But few deny that in Lagos, at least, the former governor managed to fix things no one thought fixable.

Under his tenure at the turn of the millennium and that of his successor Babatunde Fashola, a technocrat hand picked by Tinubu, the city scrubbed up dramatically. Trash got collected, crime fell, trees were planted and traffic was better managed.

“There were refuse mountains around, tax collection was very low,” recalls Folarin Gbadebo-Smith, a former council leader under Tinubu. “But very quickly he seemed to sort things out.”

Gbadebo-Smith noticed an advantage Tinubu has over other Nigerian “big men” is that you could disagree with him and he listened, changing his mind when faced with a good argument.

He also sets high standards, says Lagos waste management head Ola Oresanya, to whom Tinubu gave three months to make a noticeable difference or be fired.

“He likes to say ‘I promised I would do this, and I have.'”

But like other powerful political figures in Nigeria, Tinubu’s power resides largely in the huge patronage he wields, which has given him influence over, for instance, the ‘area boys’ — Lagos street toughs who run rackets and guard cars. Ingeniously, he gave some of them uniforms and turned them into traffic cops.

After he voted on April 11, a group of area boys mobbed The Jagaban, and he lectured them on their disorderly behavior.

“If you want me to do something for you, line up in an orderly manner. Then I can share my peanuts,” he told them, adding: “some of you have not even voted.”

A day later, when celebrations erupted outside his home, two groups of area boys got into a fight over money that had been distributed and they began hitting each other with planks of wood, a Reuters reporter saw. But interviewed later, many of them said they loved Tinubu since “he’s a man of the common people.”

A businessman close to him says although Tinubu runs a formidable business empire, he is often short of cash because he gives so much away to oil the wheels of patronage.

Yet Tinubu may have less influence over Buhari than he had hoped, argues Kayode Akindele, CEO of consultancy 46 Parallels.

“He didn’t really deliver in the southwest. It was only a slight lead,” he said, compared to the absolute thumping Jonathan received from voters in the largely Muslim north.

“The APC, post-elections, is now very northern,” he added. That could limit any influence The Jagaban has — and replicate the north-south rivalry that divided Jonathan’s outgoing party.


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DBN, Grand Africa Initiative Partner to Empower 350 Nigerian Women Entrepreneurs

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Development Bank of Nigeria (DBN) and the Grand Africa Initiative (GAIN) have announced the launch of the third edition of the GAIN Entrepreneurship Masterclass for Women in Nigeria.

This transformative initiative is set to empower 350 women entrepreneurs who would be selected from across Nigeria, providing them with essential skills to foster the growth and expansion of their enterprises over a comprehensive six-week training period.

Application for GAIN Entrepreneurship Masterclass for Women (Nigeria)’ opens on September 6, 2024.

The program will include training and mentorship sessions which will be held virtually.

In a joint statement released by DBN and GAIN, it was highlighted that the Women’s Masterclass has been meticulously designed to address the unique challenges faced by female entrepreneurs in Nigeria.

The program will offer targeted support in areas such as financial literacy, strategic marketing, business modeling, legal aspects of business, structure and processes, customer management, business branding and so much more, enabling participants to fully capitalize on the opportunities available in Nigeria’s growing economy.

“At DBN, we believe that women entrepreneurs are crucial to the sustainable development of Nigeria’s economy.

“Our partnership with GAIN reaffirms our commitment to supporting women-led MSMEs by providing them with the necessary tools, knowledge, and financial empowerment to thrive.

“By addressing the specific challenges women face in business, we are creating a more inclusive and resilient entrepreneurial ecosystem.

“Through initiatives like this, we aim to close the gender gap in entrepreneurship, ensuring women entrepreneurs have equal access to resources, training, and financing” said Dr. Tony Okpanachi, Managing Director/CEO of Development Bank of Nigeria.

Janet Oladapo, the Programme Officer for GAIN commented on the continued collaboration with DBN, “We are excited for the impact that this holds as we have seen remarkable success in the previous 4 editions of our entrepreneurial masterclasses, and we are happy to extend this opportunity to more women entrepreneurs in 2024.

“This Masterclass not only offers participants high-quality training; it also provides them with opportunities to network, receive guidance from seasoned global mentors, and acquire the comprehensive knowledge needed to drive substantial growth in their businesses.”

The Entrepreneurship Masterclass aligns with the broader missions of both GAIN and DBN. Both partners remain committed to empowering African youths and women by providing them with skills and resources necessary to drive sustainable economic development across the continent.

DBN, on the other hand, continues to support Nigeria’s micro, small, and medium enterprises (MSMEs) by alleviating financing constraints and creating an enabling environment for their growth. Applicants can apply online via: https://bit.ly/GAIN-DBN


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Baobab Partners with NYSC to Promote Financial Literacy Amongst Corp Members

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Jollof+, a product of Baobab Nigeria, one of the finest leading financial services dedicated to supporting the financially excluded and unbanked communities in Nigeria has partnered with the National Youth Service Corps (NYSC) to promote financial literacy and increase awareness of its financial services among corps members nationwide.

This initiative, implemented in NYSC camps in Lagos, Sagamu, Abuja, Keffi, and Uyo seeks to educate young Nigerians on the importance of saving and financial literacy.

Through this partnership, Jollof+ sponsored Mr Macho and Miss NYSC events at Ogun state camp, where winners were awarded amazing items and also provided with valuable insights into how they can use the Jollof+ app to save smarter and manage their money more effectively.

Commenting on the partnership, Joy Micheal-Oti, Business Development Manager, Baobab Nigeria, said: “We believe that financial literacy is the key to financial independence, and it is something every young Nigerian should know.

“Our partnership with NYSC is our way of investing in the future of Nigeria by helping corps members understand how to save, invest, and secure their financial future with Jollof+. These are the leaders of tomorrow, and we want to ensure they are well-prepared for the future ahead of them.

In addition to promoting financial literacy, the partnership also aims to build brand awareness for Jollof+, a fast-growing digital savings platform designed to simplify how Nigerians manage their money. Corps members were introduced to the key features of Jollof+, including its high-interest savings options like Jolloflock, Ajo+, and Babybox, which are designed to cater to various savings goals.

On their part, the State Coordinator NYSC Ogun State, Mrs Nasamu Olayinka Diana said, “We are excited about the partnership with Jollof+ as it aligns with our youth development initiative, where we equip corp members for the future ahead.

When you invest in the youths, you have not wasted anything, they are indeed the best place to invest in. Thank you Jollof+ for this partnership, it will indeed have a great impact on our corp members.

With Nigeria facing rising inflation and economic uncertainty, financial literacy has never been more important. Young Nigerians, particularly corps members, are entering the workforce and facing financial challenges that require them to be financially savvy.

Jollof+ plans to continue expanding its reach to more NYSC camps across the country in the coming months, ensuring that even more young Nigerians are introduced to Jollof+ and the importance of financial literacy


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d.light Named as a Finalist for Prince William’s 2024 Earthshot Prize

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d.light, the global provider of transformational household solar products and affordable finance for low-income households, was today announced as an Earthshot Prize Finalist at the third-annual Earthshot Innovation Summit.

Founded by Prince William in 2020, The Earthshot Prize is the world’s most prestigious environmental prize designed to discover, spotlight and scale the groundbreaking solutions we need to repair and regenerate our planet.

The five eventual winners will be crowned at The Earthshot Prize Awards Ceremony in Cape Town, South Africa in early November, with each receiving £1 million in prize money to support efforts to expand the reach of their transformational products and services. This year’s shortlist was selected from a pool of close to 2,500 organisations across 139 countries.

d.light is named alongside an inspiring group of global innovators, entrepreneurs, community leaders and advocates pioneering solutions to our most pressing climate and environmental challenges.

Finalists also earn a place on the Earthshot Fellowship Programme, receiving dedicated mentorship, resources, and technical support, including access to The Prize’s Global Alliance of Partners, a robust network of the world’s largest businesses, donors, investors and environmental organisations committed to climate action.

Commenting on the news, d.light CEO Nedjip Tozun said: “We’re truly honoured to be named as a finalist for such a prestigious award, and recognition from the Earthshot Prize committee is a reflection of d.light’s efforts to support underserved communities by providing access to safe, affordable off-grid solar solutions.

“2024 has been a landmark year so far for d.light and it’s exciting to see that our impact has extended beyond the solar industry to the wider sustainability community.

“Pivotal moments have included raising USD$176 million in securitized financing in Kenya, Uganda and Tanzania, launching our customer loyalty programme and installing solar in over 1.7 million off-grid households across Africa.

“d.light is the first company in the off-grid energy sector to be nominated for the Earthshot Prize, outlining our credentials as a pioneer in this space.

Since the company was founded in 2007, we’ve developed unique and innovative ways to manufacture, distribute and finance solar projects in the developing world, allowing us to transform the lives of over 175 million people in the process.

“To be named as a finalist helps us amplify our core message that so many still live without access to a safe source of electricity, while supporting our efforts to spearhead the rollout of reliable solar solutions,” Tozun concluded.

“With this milestone, d.light moves one step closer to achieving our wider aim of transforming the lives of one billion people by 2030 by giving them access to safe, clean, affordable renewable energy.”


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