The present federal administration, led by President Bola Ahmed Tinubu, assumed office on a platform of “Renewed Hope,” promising economic revival, transparency, and fair governance. However, since taking office, concerns about monopolistic practices tied to the Tinubu family and its influence over Lagos have come to the forefront. The Tinubu dynasty’s alleged control over critical sectors in Lagos and attempts to extend this influence nationwide raise serious questions about the administration’s credibility. Eyes Of Lagos reports,
Here are five reasons why Nigerians are finding it difficult to trust this administration over Lagos monopoly:
1. The Tinubu Family’s Entrenched Influence in Lagos Markets
The appointment of Folashade Tinubu-Ojo, Tinubu’s daughter, as the Iyaloja-General (leader of market traders) has drawn widespread criticism. Her role gives her significant influence over Lagos markets, including the power to levy taxes and fees on market traders. Many traders complain about exorbitant levies, which lack transparency and accountability.
The growing fear is that this influence might extend nationwide under Tinubu’s federal administration, replicating the Lagos model of centralized control. The imposition of such market monopolies on a national scale threatens small-scale entrepreneurs and informal businesses that are already struggling in Nigeria’s tough economic climate.
2. The “Renewed Hope” Agenda Has Failed to Deliver
The administration promised economic revival, job creation, and a fairer system under the “Renewed Hope” agenda. However, these promises have yet to materialize. Instead, Nigerians are grappling with worsening economic conditions, including skyrocketing fuel prices, inflation, and a depreciating naira.
The focus on maintaining control through monopolistic structures like those seen in Lagos suggests the administration prioritizes consolidating power and wealth over addressing the needs of ordinary Nigerians. This betrayal of campaign promises further erodes public trust in the government.
3. Lack of Transparency and Accountability
The monopolistic tendencies in Lagos, particularly in sectors like transportation, tolling, and real estate, have often been linked to private interests controlled by individuals close to Tinubu. The toll gates on Lagos roads and the Lekki Concession Company, for example, have long been criticized for a lack of transparency in revenue collection and usage.
Now that the federal administration is led by Tinubu, concerns are growing that similar practices will extend nationwide, with limited checks on how public funds are managed. This lack of transparency fuels suspicions that the administration is prioritizing the enrichment of a select few over the welfare of the people.
4. Neglect of Inclusive Governance
The concentration of power within the Tinubu family and their allies reflects a governance model that excludes broader participation. Lagos has often been accused of being governed as a fiefdom, with key positions and resources controlled by Tinubu loyalists. Critics argue that the federal administration is replicating this exclusionary model by appointing individuals with close ties to the ruling elite to critical national positions.
This approach alienates large segments of the population, particularly those outside the political and economic networks of Lagos, and undermines the government’s claim to be a unifying force for all Nigerians.
5. Expanding the Lagos Model of Taxation Nationwide
The excessive taxation system in Lagos, where market traders and small businesses bear heavy levies, is now feared to be a blueprint for nationwide policy under the current administration. Traders in Lagos markets have long complained about being forced to pay levies without clear justification, with many attributing these charges to Tinubu’s political machinery.
With the federal administration now in Tinubu’s hands, there are concerns that this oppressive tax regime could be extended nationwide, exacerbating the hardships of small-scale businesses and ordinary citizens already struggling with the country’s economic downturn.
The Core Reasons for Failure
- Broken Promises: The administration has failed to meet expectations, with little evidence of the “renewed hope” it campaigned on.
- Consolidation of Power: Rather than fostering inclusivity, the government is deepening monopolies tied to a single family and its associates.
- Economic Mismanagement: Policies that exacerbate inflation and unemployment show a lack of direction and prioritization of the common good.
- Lack of Reforms: Critical sectors like education, healthcare, and infrastructure remain neglected while the focus stays on consolidating control over revenue streams.
- Widening Inequality: Governance that benefits a small elite, rather than addressing the needs of ordinary Nigerians, is driving disillusionment.
Conclusion
The federal administration’s actions have done little to inspire confidence among Nigerians. Instead, they highlight an alarming trend of centralizing economic and political power in the hands of a few, with the Tinubu family playing a prominent role. From market monopolies to failed economic promises, the administration appears to be prioritizing personal and political interests over the well-being of the populace.
For a country yearning for genuine leadership and equitable governance, this administration’s approach represents a missed opportunity to address Nigeria’s pressing challenges. If these patterns continue, the legacy of “Renewed Hope” may be remembered as little more than hollow rhetoric.
