Mr President enjoyed himself, but at what cost?

President Bola Tinubu's European holiday in September 2023 was met with enthusiasm, but questions arose about the impact of his absence on Nigeria. Upon his return, Tinubu confidently declared he had enjoyed himself and was ready to kick-start his duties. Some well-wishers, however, expressed concerns about his health, which he dismissed as baseless rumors. This raises the question: at what cost did the President's enjoyment come?

During his month-long stay abroad, Nigeria faced significant challenges. The Food and Agriculture Organization (FAO) and World Food Programme (WFP) projected that 34.8 million Nigerians were at risk of severe food insecurity during the lean season. Meanwhile, the country's public debt per citizen had increased by 87% in three years, standing at around N716,822.

External reserves reached an 18-year high of $54.69 billion, while inflation eased to 15.39% in August. The stock market also hit a record valuation of N163.06 trillion.

Security remained a concern, with police recording 22 banditry incidents, five terrorism incidents, 27 kidnappings, and 50 homicides in a single week. Additionally, 37 suspected illegal miners died after being detained by the National Security and Civil Defence Corps (NSCDC) in Minna. The President had to order an independent panel from abroad to investigate the incident.

One of the most glaring costs of Tinubu's holiday was his abrupt absence from the United Nations General Assembly (UNGA). Despite his announcement to participate, he was notably not present, causing disappointment among Nigerians who had eagerly anticipated his address. During the UNGA, Vice President Kashim Shettima delivered Nigeria's statement on Tinubu's behalf, which was highly praised for its eloquence and compelling arguments.

However, the statement's tone was criticized as sounding like a nation pleading rather than proposing. Kenyan President William Ruto, in his address, emphasized Africa's potential to address global issues such as food security, clean energy, and resilient supply chains. Ruto's speech highlighted Africa's resources and young population, arguing that Africa should not come to plead but to propose.

His speech also brought attention to the skewed credit ratings that have cost African countries about $75 billion.