The dawn of “TINUBUECONOMICS: A New Era for Nigeria” brings with it a sense of concern and unease – Abayomi Odunowo
In recent years, Nigeria has been making significant strides in economic development, thanks to the visionary leadership of President Bola Ahmed Tinubu. President Tinubu has been instrumental in securing a financial partner from EDIB Hong Kong to develop the $27.29bn Escravos Seaport Industrial Complex, signaling the birth of a new Nigeria. This project, located in Escravos on Gbaramatu Island/Omadino, is set to revolutionize trade and commerce in the region, creating numerous opportunities for economic growth and development.
Furthermore, President Tinubu has provided a written confirmation of a new era Free Trade Zone, with a workable financial model of 99 years concession. This initiative will see the development of a Build, Own, Operate, and Transfer Delta State, providing 31,000 hectares of land for industrial and commercial activities. Such an ambitious project will attract local and foreign investors, creating a conducive environment for business and economic activities to thrive.
In addition, President Tinubu has embarked on the EISC deep Sea Port project, which will service all Inland Ports along River Niger. This innovative initiative, known as the “River Niger Canal Project,” in partnership with the Suez Canal Authority, is a 600km ESIC Seaport that runs to Baro Port. By opening up the canal to a depth of 10 meters, it will enable vessels of up to 100,000 metric tons to navigate the waterways, boosting trade and commerce in the region.
Moreover, President Tinubu has approved the Kano-Lagos narrow rail express service, a critical infrastructure project that will facilitate the movement of goods and products from the Interland, creating avenues for quick product exports and supporting local farmers. This rail service will not only provide a reliable mode of transportation but will also contribute to the economic growth of the region.
In a bold move, President Tinubu has also switched the payment for crude oil sales to the Central Bank of Nigeria, away from the Nigerian National Petroleum Corporation. This strategic decision signifies a push for greater transparency and accountability in the management of Nigeria’s oil resources, a move that has been long-awaited by the Nigerian people.
The economic reforms and initiatives spearheaded by President Tinubu have sparked renewed hope and optimism in Nigeria’s economic trajectory. As the country continues to grapple with various economic challenges, these bold initiatives are a testament to President Tinubu’s commitment to driving economic growth and development in Nigeria.
It is evident that President Tinubu’s vision for a new Nigeria is crystalizing, as evidenced by the groundbreaking economic projects and reforms that are set to transform the country’s economic landscape. The impact of these initiatives will be felt across various sectors, creating opportunities for job creation, investment, and overall economic prosperity.
In conclusion, President Bola Ahmed Tinubu’s leadership has ushered in a new era for Nigeria, characterized by bold economic reforms and transformative projects that are poised to position the country as a regional economic powerhouse. His unwavering commitment to driving economic growth and development has instilled renewed hope in the hearts of Nigerians, as the country embarks on a journey towards a brighter and more prosperous future. With TINUBUECONOMICS at the helm, Nigeria is indeed on the cusp of a new dawn.
Otunba Abdulfalil Abayomi Odunowo
National Chairman AATSG
23rd February, 2024.
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