Nigeria’s foreign policy has come under intense scrutiny as President Bola Tinubu faces mounting criticism over his handling of key international and domestic affairs. From strained diplomatic relations to controversial economic decisions, his administration’s actions have left many questioning the direction of Nigeria’s global standing. Critics argue that his foreign policy appears disjointed and lacks a clear strategy, particularly in areas that directly impact Nigeria’s economic and political relationships.
Dangote Case Sparks Widespread Concern
One of the most contentious moves by President Tinubu was his decision to prosecute the Dangote conglomerate, a major player in Nigeria’s economy. The decision not only sent shockwaves through the local business community but also raised alarm internationally. Observers see this move as an attack on a major national corporation, undermining Nigeria’s credibility as a safe haven for investment.
The potential ramifications of this case extend beyond Dangote itself, as many fear it could discourage foreign investors. “If Dangote could be so unjustly persecuted, what then is the fate of foreign companies and investors in the country?” This sentiment reflects the broader concern that President Tinubu’s approach may damage Nigeria’s long-term economic interests and diminish its appeal as a destination for global business.
Crypto Ban Creates Confusion and Uncertainty
Another decision that has perplexed both domestic and international audiences is President Tinubu’s ban on cryptocurrency within Nigeria. The lack of clear reasoning behind this move has left many questioning the government’s understanding of the rapidly evolving financial landscape. At a time when digital currencies are gaining popularity as a means of financial stability, particularly among Nigeria’s youth, the ban seems disconnected from the realities on the ground.
Adding to the confusion is the imposition of increased taxes on cryptocurrency organisations, without providing a conducive environment for their operation. This policy not only hinders growth within the sector but also raises concerns about Nigeria’s diplomatic relations with countries that support digital currencies. Critics argue that the government’s actions reflect a lack of foresight and understanding of how to integrate new technologies into the economy effectively.
US Relations Strained After Binance Executives’ Arrest
Tensions between Nigeria and the United States have also escalated following the arrest of Binance executives under Nigerian custody. This action has led to strained relations between two nations with strong economic ties, potentially jeopardising crucial partnerships needed for Nigeria’s economic growth. President Tinubu’s handling of the situation has been seen as unnecessarily aggressive, risking further diplomatic fallout at a time when Nigeria can ill afford to alienate important allies.
ECOWAS Actions and Regional Diplomacy
Tinubu’s approach toward resolving the crises within ECOWAS, particularly during the military coups in Burkina Faso, Niger, and Mali, has raised further concerns. His administration’s heavy-handed measures against coup leaders in the region have led to these countries withdrawing from the organisation altogether, weakening regional unity and cooperation. Instead of being seen as a champion for peace and stability in West Africa, Tinubu’s actions have painted him as a leader more interested in conflict than diplomacy.
Presidential Jet Seizure Embarrasses Nation
Perhaps the most embarrassing incident in recent months was the seizure of the Nigerian presidential jet in France due to a legal dispute involving the Ogun state government and a Chinese company. The situation, which highlighted a serious lack of communication and coordination within the Nigerian government, was further exacerbated by President Tinubu’s decision to use a newly acquired presidential jet for personal travel to France. This act was widely criticised as tone-deaf and added to the perception that the administration’s priorities are out of sync with the country’s needs.
Conclusion: A Call for Diplomatic Rethink
President Tinubu’s foreign policy decisions, from the prosecution of Dangote to the mishandling of cryptocurrency regulations and strained relations with the U.S., have undermined Nigeria’s standing on the global stage. These incidents underscore the urgent need for a more careful and strategic approach to international relations.
Nigeria, with its vast natural resources and potential, is poised to become a global powerhouse. However, this requires a shift toward more inclusive diplomacy, cooperation, and genuine engagement with both local stakeholders and international allies. Alienating key partners and adopting short-sighted policies could jeopardise Nigeria’s long-term economic and political prospects.
To fully realise Nigeria’s aspirations, President Tinubu must focus on fostering strong international partnerships that align with the country’s development goals. Only through unity, collaboration, and visionary leadership can Nigeria achieve its true potential on the global stage.
