Welcome to 234Digest: an independent, nonpartisan, reader-focused newsletter that informs you in less time with fact-based news, features and insights about Nigeria. In this maiden weekend edition, we’re looking at issues for Nigeria’s president-elect, the state elections and more.

One top headline

Issues for Nigeria’s president-elect

Bola Tinubu, the ruling party’s candidate and former governor of Nigeria’s economic nerve center, Lagos, became Nigeria’s president-elect after he was declared winner of the country’s closest election since the end of military rule. But he will have his hands full when he takes over from president Buhari on May 29.

Why? The 70-year old president-elect now faces an enormous task. He needs to consult and reach out widely after winning a presidential vote that has been highly disputed. Indeed, unifying the country will be a major task.

He needs to tackle insecurity at all levels. Incidents of violence during recently concluded elections make case for the need to strengthen institutions for public service. That can’t be overlooked as he tackles wider issues around national security.

Rich, but poor. Nigeria, Africa’s largest oil producer, is one of the richest states on the continent with the biggest economy in terms of GDP. Yet, it faces fuel shortages while an overloaded power system continues to cause power outages. Nigeria’s new leader will need to solve these problems to unlock the country’s economic potential.

Other issues include youth unemployment, insurgencies in the northeast, clashes between herders and farmers in the agrarian north, oil theft and secessionists agitations in the south, skyrocketing inflation and wide-spread poverty.

Long stories short

Nigeria’s electoral commission bars negligent staff from state elections

The Independent National Electoral Commission (INEC) has banned all staff found negligent in the February 25 presidential and National Assembly elections from participating in governorship and state assembly elections in March 11. The head of INEC, Prof. Mahmood Yakubu, told Resident Electoral Commissioners they must work harder to overcome the challenges experienced in the previous election.

Nigeria’s Supreme Court orders halt to old currency replacement policy

The Nigeria Supreme Court on Friday ruled that N200, N500 and N1000 naira notes will remain legal tender until the end of 2023. The policy of Nigeria’s central bank to replace the notes took full effect in February ahead of the elections. But shortage of the new bills has disrupted everyday life for many, causing long queues at ATMs and an expensive black market for naira notes.

Nigeria’s Transcorp Hotels posts big profit amid expansion plans

The company, one of Nigeria’s biggest hotel players, reported a full-year 2022 profit before tax of $9.8 million (4.5 billion Nigerian naira) on $68.2 million (31.4 billion naira) in revenue. Transcorp Hotels’ CEO and managing director said it was the highest revenue generated since the inception of the company. “The full-fledged return of the international business travel segment and the bolstering leisure segment contributed immensely to this performance,” she said.

Napoli star Victor Osimhen hints at Manchester United transfer

The Nigerian striker has admitted that playing in the English Premier League is ‘an ambition of all players’ as he fuels speculation he could join Manchester United this summer. The 24-year old has scored 19 times in 20 appearances so far this season to help put Napoli at the top of Italy’s Serie A table.

Long read

How a song snippet on TikTok shot Pheelz to global limelight

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