Emilokans, Buharists, and Economic Nepotism

BY HASHIM SULEIMAN 

“Emilokans” refers to the staunch supporters of President Bola Ahmed Tinubu. The term derived from the Yoruba language roughly translates to “my turn,” which reflects the sentiment that Tinubu’s turn to become the President of Nigeria has come.

Emilokans are known for their loyalty and dedication to Tinubu, as evident in their active campaign for his presidential ambition.

“Buharists” refer to the devoted supporters of former President Muhammadu Buhari, who believe in his socio-political and economic ideology.

This term is associated with his enthusiastic followers, particularly from the northern region of Nigeria, who either gained significantly during his time in office or are deeply committed to his vision for the country.

Meanwhile, for context, there is also “Ronu,” which refers to Yoruba individuals who benefit from or uphold the ethnic privileges associated with the Bola Tinubu presidency. In contrast, core Buharists are certain persons from the Daura, Kazaure, and Yola axis who were part of the Buhari administration’s decision-making machinery for eight years.

Now, let’s delve into the topic. The nation is leaving an era of economic laziness, where individuals amassed billions by exploiting arbitrage opportunities between the Central Bank of Nigeria (CBN) and black market exchange rates. They deposited windfalls into their accounts while the rest of us, who have invested years of hard work and skill-building, were left to struggle for recognition and fair compensation. The opportunists not only hoarded wealth but worked to exclude those who sought prosperity through genuine competence and diligence.

Gone are the days of phantom fuel imports —where individuals collected subsidies for non-existent shipments or, in more daring schemes, imported fuel with government subsidies only to export it to neighboring countries like Niger, Chad, and Cameroon at exorbitant markups. The audacity of such economic sabotage raises an ethical question: How do individuals and their families appreciate wealth that was built on deception and national destruction? Sustainable prosperity, after all, is more fulfilling when earned through legitimate effort.

Not long ago, I had a conversation with a major economic player about why the 2024 capital budget release was still at a dismal 27% in January of a new fiscal year. His response was eye-opening: A significant portion of the Federal Government’s revenue from the Federation Account Allocation Committee (FAAC) goes toward debt servicing—debt largely accumulated under the previous administration. The government hesitates to explain this reality, fearing that Nigerians will twist the narrative.

At the same time, the current administration is reluctant to rely on Ways and Means financing due to its adverse economic consequences. Borrowing is also avoided to prevent another wave of outrage from self-proclaimed “economists” who thrive on sensationalism. Therefore, the only viable solution is the Tax Reform Bill, which, ironically, has also faced resistance from the same critics.

What is most infuriating was the Buhari administration’s alleged mismanagement of loans at the detriment of over 200 million Nigerians. Borrowing for capital expenditure is not a crime, but economic sabotage is borrowing ₦77 trillion—plus an additional ₦27 trillion through Ways and Means— yet 90% of it was spent on subsidies, salaries, the Anchor Borrowers’ Program, dollar subsidies, humanitarian affairs fraud, and inflated consultancies.

A cursory evaluation of capital projects under the Buhari leadership reveals that the only significant project it started and completed was the Lagos-Ibadan railway. Meanwhile, the Kano-Abuja expressway remains incomplete, likewise the Lagos-Ibadan expressway and the Second Niger Bridge. This exposes the shocking reality of individuals who saw the government as a cash cow rather than a platform for national development.

Today, we are in an era where subsidies are being dismantled, not out of choice, but out of necessity. The era of cheap dollar racketeering is over. There is now a clear attempt to build economic structures. The construction of the coastal highway will benefit all Nigerians, including major business players like Dangote and countless others along the coastal axis. The government is also developing CNG infrastructure to provide alternative energy sources, bolstering the livestock industry and establishing regional ministries to expedite economic growth.

The beneficiaries of Tinubu’s perceived nepotism are not flocking to Abuja in agbada merely to collect free money. Instead, they arrive with sleeves rolled up, ready to create value. I recently met an influential citizen who, despite his closeness to power, stated that he had no interest in an official position himself. The private-sector professional said he preferred offering critical services and being paid for results rather than participating in government largesse.

In the past, such an individual and many others would by now be obscenely wealthy. This is why, after a thorough assessment, I am inclined to excuse Tinubu’s perceived nepotism. If supposed favoritism truly exists, at least it appears to be fostering productivity rather than parasitism. God bless Nigeria.

Hashim Suleiman, a social commentator, wrote from oneheartnaija@yahoo.com