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Published 2nd August 2024

Vol 65 No 16

Nigeria

Days of rage protests test Tinubu’s economic plans

Copyright © Africa Confidential 2024
Copyright © Africa Confidential 2024

With handouts, political co-option and force of arms, the government aims to face down mounting public anger

A month after Kenyan activists forced President William Ruto to drop plans for sweeping tax hikes, President Bola Ahmed Tinubu’s government has organised a comprehensive pre-emption campaign against the ‘Days of Rage’ protests in Nigerian cities due to run from 1-10 August.

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Hurdles for Progressive Caucus

First Cabinet Lekgotla of the GNU. Pic: @PresidencyZA
First Cabinet Lekgotla of the GNU. Pic: @PresidencyZA

The coalition of opposition parties has lost some members to Ramaphosa’s Government of National Unity while another is embroiled in the VBS scandal

When the United Democratic Movement’s Bantu Holomisa and Economic Freedom Fighters’ Julius Malema called a press conference on the morning of 14 June at the Cape Town C...

Raila names his price

Pic: @RailaOdinga
Pic: @RailaOdinga

In a move to quell growing dissatisfaction with his government, President Ruto has nominated allies of the main opposition leader to his cabinet

Four ministries, including the Treasury, was the price Raila Odinga set for propping up William Ruto’s ailing presidency and to establish what is effectively Kenya’s fi...

BLUE LINES
THE INSIDE VIEW

In parallel to the contest of wills between young activists in Nigerian cities and President Bola Tinubu’s government, another battle has been playing out. It pits Aliko Dangote against the government in Abuja and some of its business allies.

Insiders had detected a froideur towards the billionaire after Tinubu took over the presidency last May. Tensions increased after agents from the Economic and Financial Crimes Commission raided Dangote’s offices in January. They said ...

In parallel to the contest of wills between young activists in Nigerian cities and President Bola Tinubu’s government, another battle has been playing out. It pits Aliko Dangote against the government in Abuja and some of its business allies.

Insiders had detected a froideur towards the billionaire after Tinubu took over the presidency last May. Tensions increased after agents from the Economic and Financial Crimes Commission raided Dangote’s offices in January. They said they were investigating foreign exchange violations in collusion with ex-central bank governor Godwin Emefiele.

Tensions escalated further as Dangote’s refinery in the Lekki Free Trade zone started producing diesel, naphtha and aviation fuel. Dangote had wanted to buy crude oil directly from the state oil corporation (NNPC), but was refused. Another spat broke out over the size of the NNPC’s stake in Dangote refinery and the company’s failure to supply the agreed consignments of oil to pay for the stake.

The denouement this week was more surprising still. The NNPC turned 180 degrees and offered to sell Dangote 450,000 b/d of oil direct and in naira. The trigger seemed to have been a worsening shortage of petrol – another economic crisis which would have coincided with planned ‘Days of Rage’ protests in August. It is advantage Dangote, but the story isn’t
over yet.

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