Person Of The Year: President Bola Tinubu

December 22, (THEWILL) – Prominent Nigerians across multiple sectors significantly influenced and impacted society this year. Some shone as beacons of hope amid the worsening insecurity and economic hardship, while others via their actions negatively affected lives through their controversial choices and deeds.

The choice of President Bola Ahmed Adekunle Tinubu, GCFR, as Person of the Year 2024 was a unanimous pick for THEWILL editorial team. There was no dissenting vote amongst the six-member committee for this simple and straightforward reason.

President Tinubu’s reform policies in the past one year have significantly impacted every Nigerian negatively, old or young in business, employed or unemployed as never before in the country’s recent history.

Apart from the president, there were also others who significantly influenced Nigerians this year though their impact was not as far reaching.

Those in this category, in no particular order, are Central Bank Governor, Olayemi Cardoso, chairman of Dangote Group, Aliko Dangote, President of African Development Bank, Dr. Akinwunmi Adesina, Internal Affairs Minister, Olubunmi Tunji-Ojo, Minister of Aviation and Aerospace Development, Festus Keyamo, SAN,  Director-General of the World Trade Center, Dr. Ngozi Okonjo-Iweala and FCT Minister, Nyesom Wike.

Others are chairman of Air Peace, Allen Onyema, chairman of Transcorp, UBA and Heirs Holdings, Tony Elumelu, chairman of First Bank Holdings and Geregu Power Plc, Femi Otedola; Chairman Presidential Committee on Fiscal Policy and Tax Reforms; Taiwo Oyedele; chairman, Federal Inland Revenue Service, Zacch Adedeji, recording artiste Davido, Senator Natasha Akpoti; movie producer, Femi Adebayo; chairman of Aiteo and Bravura, Benedict Peters, Social media influencer, Martins Vincent Otse, aka VeryDarkMan; African Footballer of the Year, Ademola Lookman; Governor Babagana Zulum of Borno State; and incarcerated Biafra State agitator, Simon Ekpa.

PRESIDENT BOLA AHMED ADEKUNLE TINUBU

On Friday, December 20, 2024, the Minister of Information and National Orientation, Mohammed Idris reportedly said, “2025 is a year that President Tinubu’s reforms will be consolidated for the benefit of all Nigerians. Mr President has embarked on an ambitious reform agenda that is already freeing more resources to the sub-nationals, not just the Federal Government.”

The Minister was responding to a reporter’s question on the rising criticism of the government’s very hurtful, yet promising reforms. What then do we say of the government’s policies in 2024?

Take the story of Mr Shola Agidi, not real name, a retired construction engineer from one of the biggest construction companies in Nigeria, for example. For the past four years since he retired, he had always travelled abroad, mostly either to the United Kingdom or the United States of America, for his vacation, taking along his wife and the youngest of their children, undergraduate son and daughter.

Not anymore. This year he has neither choice nor option. He cannot foot the flight ticket at almost four thousand dollars for himself alone to the USA and the option of travelling to his home town is ruled out. He is afraid. The roads are insecure.

Government’s removal of subsidy and floating of the local currency, the Naira delivered a big blow to the already fragile economy as the resultant increase in fuel prices drove logistics and the prices of food items through the roof.

Last year when the impact of the governments’ reform policies began to bite harder because of rising cost of living, amid insecurity and social unrest, Mr Agidi travelled with his wife only. They left their children out.

He promised to take the children for this year’s trip because he believed in the government’s calculation that by the end of 2024, things would be better than last year, not so much from the impact of its reform policies, which will take a gestation period of more than two years, but because of the stop-gap interventions that the government promised to implement, mostly designed as part of a broader agenda for economic reform to reduce inflation, create jobs and stimulate growth in key sectors, such as agriculture, manufacturing, oil and housing.

“Things are yet to get better than they were last year,” he told THEWILL last Thursday. “The cost of airfare for one person is almost two thousand dollars, not to mention accommodation and feeding. I can cope, anyway. What pains me in all of this is that some of my colleagues who decided to emigrate with their families, hoping to give their last set of children better opportunities are in a terrible mess. The exchange rate has rendered their pension worthless so that they had to look for a job to sustain their families.”

He lamented his current financial state because even at retirement, he still supports his younger ones who are either unemployed from loss of job or managing small businesses that are largely unproductive due to lack of predictable source of funding, unreliable electricity supply, increasing cost of rent and low patronage.

What is true for Mr Agidi is true for millions of Nigerians who have borne the brunt of the government’s reform policies that are yet to positively impact the lives of a majority of the people. In fact, those traditionally insulated from the harsh economic realities of millions of Nigerians are not only feeling the pinch but also complaining bitterly.

A member of the President’s kitchen cabinet when he was governor of Lagos State, Joe Igbokwe, recently wrote on his Facebook wall: “With all the rice mills we have in Nigeria, my wife just told me that a bag of rice is now N100k plus. Without sounding immodest, I am constrained to say that the men and women that will rescue this country from self-inflicted pains and tears are not born yet.”

For context, let us look at the figures for the past one year.

Nigeria’s annual inflation rate jumped to 34.60 percent in November, from 33.88 percent recorded in October, the National Bureau of Statistics (NBS) said in its latest Consumer Price Index (CPI) report last Monday.

According to the Bureau, on a year-on-year basis, the headline inflation rate was 6.40 percentage points higher than the 28.20 percent rate recorded in November 2023. This shows that the year-on-year headline inflation rate increased in November 2024, compared to the same month in the preceding year of November 2023.

For the yearly average Consumer Price Index, CPI, the result shows an increase.  It said the percentage change in the average CPI for the twelve months ending November 2024 over the average for the previous twelve-month period was 32.77 percent, showing 8.76 per cent points increase, compared to 24.01 per cent recorded in November 2023. The yearly Urban/ Rural inflation rate is also high.

In November 2024, the urban inflation rate was 35.07 percent, indicating 9.62 percentage points higher compared to the 25.45 percent recorded in November 2023. Rural inflation rate average in November 2024 was 30.71 percent on a year-on-year basis. This was 8.00 percentage points higher, compared to the 22.71 percent recorded in November 2023.

According to the Bureau, the rise in food inflation on a year-on-year basis was caused by increases in prices of Yam, Water Yam, Coco Yam, etc (Potatoes, Yam & Other Tubers Class), Guinea Corn, Maize Grains, Rice, etc (Bread and Cereals Class), Beer, Pinto (Tobacco Class), and Palm Oil, Vegetable Oil, etc (Oil and Fats Class).

On a month-on-month basis, the Food inflation rate in November 2024 was 2.98 percent, which shows a 0.05 percentage point increase compared to the 2.94 percent recorded in October 2024.

“The rise is attributed to the rate of increase in the average prices of Mudfish, Catfish Dried, Dried Fish Sardine (Fish Class), Rice, Yam Flour, Millet Whole grain, Corn flour, etc (Bread and Cereals Class), Agric Egg, Powdered Milk, Fresh Milk, etc (Milk, cheese and eggs Class) and Dried Beef, Goat Meat, Frozen Chicken, etc (Meat Class)”, the NBS explained.

The average annual rate of food inflation for the twelve months ending November 2024 over the previous twelve-month average was 38.67 percent, which was 11.58 percentage points higher compared with the 27.09 percent average annual rate of change recorded in November 2023.

Minister of Finance, Wale Edun, despite push backs from the business community and average Nigerians, however, has explained that things are looking up. According to him, government revenue for the first half of 2024 more than doubled to N9.1 trillion, compared to N4.06 trillion in the same period of 2023. He said the application of technology in revenue collection and reforms across civil service operations is responsible for this improvement.

The increase in revenue, he contends, is being used to finance social programmes that directly benefit the poorest segments of the population. Notably, 20 million Nigerians are receiving direct financial support from the government, with plans to extend this to 15 million households. Reforms in the oil sector, the country’s primary source of foreign exchange, attracted significant investments this quarter.

For the past one year, therefore, Nigerians across all social strata, business and professional calling, have felt the pain and hardship of the ongoing reforms. Little wonder, many of them took to the social media to deploy the moniker T-Pain (Tinubu Pain) in describing the harsh realities of government’s reform policies, though his media handlers rechristened it Temporary Pain while National Security Adviser, Nuhu Ribadu, says it should actually be T-Gain (Tinubu Gains).

“President Tinubu feels the pain of Nigerians and assures them that relief is on the horizon. Some have resorted to calling him ‘T-pain’ out of mischief, but he is not that. He’s here to heal, not to hurt,” one of the president’s spokespersons, Bayo Onanuga said.

BABAGANA ZULUM

Two-term Governor of Borno State, Babagana Zulum, is one Nigerian governor who has shown resilience, displayed authority and consistency in delivering democracy dividends to his people across ethnic divides, religious beliefs and social standing.

Amid the long-drawn but tackled conflict and food insecurity in the state, G Zulum has forged ahead with rehabilitation, recovery and reconstruction programmes. In a geo-political zone noted for its high rate of out-of-school children, Zulum has changed the narrative on education. Recently, the government disbursed over ₦9 billion to sponsor 32,000 indigenes under its scholarship scheme in 2024.

As part of the effort to re-integrate the state into the economy of its neighbours, the governor has announced plans to construct an intra-city rail network to connect Maiduguri and its surrounding areas. The project, once completed, will be the first of its kind to be undertaken by any of Nigeria’s 19 northern state governments.

FESTUS KEYAMO

The Minister of Aviation and Aerospace Development has remained ruggedly focused on his five-point agenda of advancing infrastructure, human capital development, support for local operators, revenue generation and safety, with the aviation industry in the country becoming more competitive and accepted globally amid the challenging economic terrain.

Some of his radical changes have begun to attract attention to the country’s aviation potential to the point that international lessors and financiers are anxious to cooperate with airline operators in Nigeria on dry leasing and other financial arrangements. Following these international interests in the sector, the Minister predicted the emergence of several local airlines in the next few years for domestic, regional, continental and international routes.

Travellers through Nigerian major international airports now enjoy harassment-free experiences and improved services through minimal contact in-person interaction with security officials.

Keyamo, 54, is unanimously one of the two top preforming ministers and poster boys for excellence in the current administration.

OLUBUNMI TUNJI- OJO

Since his assumption of office in August 2023, Tunji-Ojo, the other top performer in the Tinubu government, has consistently worked in modernising immigration processes including clearing the embarrassing backlog of international passports and making it seamless to obtain a new one, introducing e-gates at international airports and a streamlined visa application system.

Recently, he spearheaded the setting up of an ECOWAS Card Centre, a state-of-the-art complex, which includes several critical components, such as a Data Centre with an 8.3-petabyte capacity, a Command-and-Control Centre and a Visa Approval Centre (VAC). These installations are expected to enhance internal security, promote regional travel and trade, as well as enhance regional integration and cooperation.

NYESOM WIKE

Like him or hate him, the Minister of the Federal Capital Territory, FCT, Nyesom Wike has become a torn in the flesh of land speculators, developers and homeowners without proper Certificate of Occupancy, all of whom he accused of distorting the original plan for the FCT as a crime free and serene administrative enclave meant for elected, appointed officials and professional bodies. He recently stirred controversy when he embarked on building houses for judges.

More controversial is his policy on land reclamation, which has led to demolitions of homes, thereby rendering many persons homeless. Following public outcry, the Senate had to step in and halt the exercise until allegations of land grabbing against him are established, especially the one regarding the over 40- year-old 2.5 hectares’ residential estate linked to late Colonel Paul Ogbebor (Retd), under Paulosa Nigeria Limited, which the Minister insists on demolishing because, like others, it has no valid papers. His link with the political crisis in Rivers State has further raised his controversial profile in the public domain.

ADEMOLA LOOKMAN

Ademola Lookman, the London-born Nigerian footballer, has emerged as a beacon of national pride in 2024, significantly shaping the sports and cultural narrative in Nigeria.

Playing as a forward for Atalanta in Italy’s Serie A, Lookman’s stellar performances throughout the year culminated in him being named the CAF Player of the Year. His crowning achievement was scoring a historic hat-trick in the UEFA Europa League final against the previously unbeaten Bayer Leverkusen, leading Atalanta to their first-ever victory in the competition.  His accolades in 2024, including being named Atalanta’s Player of the Season, inclusion in the Europa League Team of the Year, and finishing 14th in the Ballon d’Or, have not only highlighted his personal success but have also sparked conversations about the role of Nigerian players in European leagues, the development of football in Nigeria, and the potential for more players to follow in his footsteps.

Lookman’s year was one of triumph, making him an emblematic figure in Nigeria’s sports culture and a catalyst for discussions on national identity, achievement, and the global recognition of Nigerian talent.

VERYDARKMAN (VDM)

In 2024, Martins Vincent Otse, known as Very Dark Man (VDM), emerged as one of Nigeria’s most talked-about social critics, wielding significant influence through his social media platforms. VDM, with his unapologetic approach, tackled various societal issues, from corruption to celebrity misconduct, often with a confrontational style that sparked both admiration and controversy.

His relentless exposure of alleged wrongdoing, including his notable feuds with figures like Bobrisky and his criticism of the EFCC’s operations, brought critical socio-political issues into the mainstream discourse.

VDM’s journey through 2024 was marked by significant moments like his nomination for the Silverbird’s Most Influential Social Media Influencer award, reflecting recognition of his impact. Whether seen as an agent provocateur or a patriot, VDM’s actions forced Nigerians to confront uncomfortable truths about their society, making him an integral part of the narrative shaping the nation’s social and political landscape in 2024.

SIMON EKPA

In 2024, Simon Ekpa, a Nigerian-Finnish political activist, became a focal point of national discourse in Nigeria, particularly in the South-East region. Ekpa, who proclaimed himself the Prime Minister of the Biafra Republic Government in Exile (BRGIE), significantly influenced the narrative around Biafran secession. His activities, characterised by calls for sit-at-home protests, the declaration of a Biafran map, including the enforcement of disruptive lockdowns in the South-East, prompted diplomatic interventions from the Nigerian Government, seeking his extradition from Finland to face charges related to incitement and terrorism, highlighting the international dimension of internal Nigerian conflicts.

Ekpa’s arrest in Finland on charges of inciting terrorism and promoting violence was a critical moment, signaling to many the global reach of Nigeria’s internal struggles. His influence extended beyond just policy and security discussions; it infiltrated the cultural and social fabric, making him a divisive yet undeniably pivotal figure in shaping the national conversation about identity, governance, and the quest for peace in Nigeria.

SENATOR NATASHA AKPOTI-UDUAGHAN

As one of the three women Senators in the 10th National Assembly, Senator Akpoti-Uduaghan -Kogi Central Senatorial District- stands out for taking the initiative to facilitate projects in the state, building educational capacity amongst the disadvantaged in her constituency through scholarship programmes, youth and women empowerment and infrastructure development, particularly in terms of electrification of the major streets and business districts.

For these feats which give her constituents cause for celebration, Senator Akpoti-Uduaghan has become a beacon for public service and a shining example of advocacy for more women representation based on election under a popular campaign.

DAVIDO

Superstar singer, David Adeleke, aka Davido, is undoubtedly one of the biggest things that has happened to the Nigerian entertainment scene, particularly the music industry. As one of Africa’s most prominent artists over the last decade and the African artist with the highest number of followers on Instagram, Davido has sealed his status as an entertainment idol in the minds of his fans.

As the biggest influencer out of Africa, earning millions in dollars for influencing and promoting luxury merchandise and other items, Davido’s outspokenness on social issues as well as his spontaneous humanitarian gestures has deepened his image as a crusader for change, as shown by his loyal fan base.

FEMI ADEBAYO

Femi Adebayo, son of veteran Nollywood actor, Adebayo Salami, seems to have acquired the knack for telling African stories in a compelling way through movie making. Although he has been acting and producing movies for almost a decade, it wasn’t until he released his Netflix film, ‘Jagun Jagun’ in 2023 that the spotlight shone on him for real.

The movie got so much rave reviews that it won numerous awards including some at the 2024 Africa Magic Viewers’ Choice Award, AMVCA, thus positioning him as one to look out for in Nollywood. He firmly established himself in the industry with his latest Netflix offering, ‘Seven Doors’ which premiered on December 13, 2024, to widespread acclaim for its gripping storyline, well-developed characters, and standout performances. Unarguably the best film out of Nollywood in 2024, Femi’s professionalism has positioned him as one to reckon with in the movie making business.

NGOZI OKONJO-IWEALA

She took office on March 1, 2021, becoming the first woman and the first African to serve as Director-General, World Trade Organisation (WTO).

The General Council of WTO recently reappointed her for a second four-year term, set to begin on 1 September 2025. This decision which reflects broad recognition of her exceptional leadership and strategic vision for the future of the WTO, is a pride to Nigeria.

TAIWO OYEDELE

He is the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms set up by President Bola Ahmed Tinubu with a broad mandate to carry out critical reforms bordering on Fiscal Governance, Revenue Transformation and Economic Growth Facilitation.

The creativity embodied in the Tax Reform Bills currently before the National Assembly, designed to empower Nigerians across all strata and boost the country’s economic growth, shows him as a trailblazer with the ability to drive the much-desired revolution of the nation’s tax system.

ALIKO DANGOTE

He is the Founder of Dangote Refinery and Petrochemical Limited with a refining capacity of 650,000 barrels of crude oil per day – the largest single-train refinery in the world.

The over $19 billion investment by Africa’s richest man with a 435-megawatt power station, deep seaport and fertilizer unit is expected to meet 100 per cent of the Nigerian requirement of all refined products and have a surplus of each of these products for export.

Aside from creating multi-thousand jobs, the refinery is also expected to create a market for the $1 billion per annum Nigerian crude, in addition to foreign exchange earnings of $9.9 billion.

OLUFEMI OTEDOLA

Nigerian billionaire and energy tycoon believes in Nigeria and has invested massively to build the domestic economy in a manner that singles him out as a unique patriot.

His contribution to the growth of the economy and his philanthropy singles him out for mention.

AKINWUMI ADESINA

President of the African Development Bank (AfDB) Group, is widely lauded for his visionary leadership and passion for Africa’s transformation.

Under his leadership, the Group achieved the highest capital increase since its establishment in 1964 with current authorized capital of $318 billion. His continental service has put Nigeria on a global spotlight.

ALLEN ONYEAMA

Founder/CEO, Air Peace Airlines Limited, has demonstrated unmatched commitment to the development of the nation’s aviation industry.

Since it expanded its services on the UK in early 2024, Air Peace has become the unrivalled Nigeria’s foremost airline with global presence across the continents – rebranding Nigeria’s unhealthy image.

OLAYEMI CARDOSO

The Central Bank of Nigeria (CBN) governor under whose leadership the multiple foreign exchange window system was abolished is yet to deliver a strong naira.

The economy is yet to recover from the deep injury inflicted by the devaluation of the domestic currency as high interest rate makes cost of borrowing prohibitive for the manufacturing sector.

The monetary policy of the apex bank has been largely influenced by the reckless and irresponsible expenditure of the fiscal side and negatively impacting everyone.

TONY ELUMELU

On December 16, 2024 when United Bank for Africa, UBA, Group Chairman, Tony Elemulu led the corporate social responsibility arm of the UBA Foundation to make a donation of N500m cheque to Governor Babajide Sanwo-Olu of Lagos State on behalf of the Lagos Security Trust Fund, he was restating his commitment to a safe environment for persons and businesses.

His duty to support businesses and personal growth within and outside the country has led to the empowerment of over 1.5 million African entrepreneurs through the Tony Elemelu Foundation, TEF and TEF Entrepreneurship Programme, which has distributed over $100 million in direct fund to 20,000 youths, who, in turn, have created over 400,000 direct and indirect jobs.

His philanthropic gesture continues to inspire his compatriots and rebrand Nigeria globally as land of possibilities.

BENEDICT PETERS

When African billionaire, critical thinker, founder, philanthropist and Chairman of AITEO & Bravura Holdings, Benedict Peters acquired OML 29, one of the biggest of the four oil fields that were divested by Shell in 2016, many stakeholders gave the company no chance. But eight years down, the field, with an average production of 50,000 BPD, has sustained the group’s entry into crude production with recorded crude sales of $325m, about N471 billion, in the first half of this year.

Apart from involvement in extraction, the company boasts some of the largest private petroleum storage facilities in sub-Saharan Africa, with a capacity exceeding 320 million litres in strategic locations in Port Harcourt and Apapa.

Bravura Holdings, a mining company with operations mainly in Southern and Central Africa, secured mining deals for lithium production in Zimbabwe, Mozambique and Congo.

As it marks its 25th anniversary this year, AITEO, which has discharged robust Corporate Social Responsibility, CSP, in supporting football development through partnership with the Nigeria Football Federation, NFF, Confederation of Africa Football, CAF, donates to Internally Displaced Persons camps, IDPs,  religious bodies and cultural organisations, has shown commitment to the Nigerian dream of becoming energy independent.

 

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