Although Nigeria’s Vice President, Prof Yemi Osinbajo has not shown any clear intention to contest for the country’s presidency next year, analysts are surprised that the World’s leading global business publication, The Financial Times Newspaper has already endorsed him to contest for the office of president in the 2023 general elections.
The globally respected publication seems to agree with many observers that it would take close to ‘a miracle’ for the Vice-President to emerge victorious in the elections considering the ‘political heavy-weights ’ he would be up against.The London-based newspaper however opined that Osinbajo’s presidency will ‘ give Nigeria respite, adding that Nigerians will feel better with Osinbajo as president.
The Financial Times disclosed this in its editorial piece this week titled: “What is Nigeria’s government for?”. The international paper also said if by miracle, Osinbajo makes it as Nigeria’s president, it will rekindle the hope of the optimist.
Still, In the article, the London-based newspaper noted that campaigns for the presidential elections in February 2023 have already begun “if Yemi Osinbajo, the technocratic vice-president, were miraculously to make it through the campaign thicket and emerge as president, the hearts of Nigerian optimists would beat a little faster.
It said, “But that may be to underestimate the depth of Nigeria’s quagmire. The problem is not so much who leads the government as the nature of government itself.”
The newspaper described President Muhammadu Buhari’s eight years of administration as “somnolent”. According to Financial Times, the Buhari administration failed to tackle the country’s insecurity, adding that Nigeria’s debt profile increased under his watch.
“Buhari has overseen two terms of the economic slump, rising debt and a calamitous increase in kidnapping and banditry – the one thing you might have thought a former general could control,” the newspaper stated.
It said, “Next year, many of the members of the government will change, though not necessarily the bureaucracy behind it.”Campaigning has already begun for presidential elections that in February 2023 will draw the curtain on eight years of the administration of Muhammadu Buhari, on whose somnolent watch Nigeria has sleepwalked closer to disaster.”
The newspaper also said financial strength has remained a crucial determinant of the country’s election winners, as they estimated that Nigeria’s 2023 presidential election would cost about $2billion (N1 trillion.)
“Familiar candidates to replace him (Buhari), mostly recycled old men, are already counting their money ahead of a costly electoral marathon.
“It takes an estimated $2billion to get a president elected. Those who pay will expect to be paid back,” it added.
Financial Times re-echoed what former head of state, Ibrahim Babangida said that ‘Osinbajo can be more effective as president.
It also noted that there are some other promising candidates with great chances to take over from the current President, Mohammadu Buhari.