By Abbati Bako, abbatibako@gmail.com
Up till today the United States of America is still the global leader. The global leadership has been considered by the experts as that nation should have more military, economic and political power than any other nation in the world. Britain was once a global leader twice for fifty years (50—50). But Spain, Greece, France and Portugal was for fifty years each as global economic, political and military mighty.
But America has been the global leader since 1948 after the end of the second world War (II). Since then the United States of America has had more political, economic and social influence than any other nation in the world. According to Professor George Friedman “USA has 26% of global GDP”. And they have more military power and political say than any other country.
The current American leadership under the newly elected Mr. Donald Trump seems to be bringing new political, economic and social development in the world. Hence, this writing understand that Nigeria can benefit tremendously from his political, economic and social policies.
1. Renewable Energy Investments:
The current administration of America is expected to promote renewable energy, which could benefit Nigeria’s efforts to diversify its energy sector. However, under Trump’s presidency, Nigeria’s oil exports might benefit from his pro-fossil fuel stance, but this could be outweighed by his focus on U.S. energy independence, reducing demand for Nigerian oil.
2. Trade and Investment:
Trump’s protectionism policies might lead to higher tariffs and trade barriers, affecting Nigeria’s exports to the U.S. However, Nigeria remains the second-largest U.S. export destination in Sub-Saharan Africa, with a trade deficit of $177 million for the U.S. This presents opportunities for Nigeria to negotiate better trade terms. Technology and Digital Infrastructure: Trump’s policies might not be as supportive of foreign investments in tech and digital infrastructure. However, this potential administration could promote investments in these areas, benefiting Nigeria’s growing technology ecosystem, science, technology and innovation.
3. Immigration Policies:
Trump’s restrictive immigration policies might affect Nigerians living in the U.S. or seeking to migrate. However, a more liberal immigration policy under a different administration could benefit Nigeria’s diaspora community. It has been estimated that there are about 500 thousand Nigerians in the United States of America.
4. Security Cooperation:
Trump’s focus on counter-terrorism and security cooperation could benefit Nigeria’s efforts to combat Boko Haram, banditry and other security challenges for the benefits of Nigeria’s economy, social and political democracy’s continuation.
Keep in mind that these potential benefits are speculative and depend on various factors, including the specific policies implemented and the responses of other nations of the world.
Conclusively, not only Nigeria, other Global South-South Nations may likely benefit from President Trump’s political, economic and social policies. Can this writing say that with President Donald Trump heading policies that contradict the current global direction on globalization policy; should we say that globalization policy is dead? Or is the current crisis on globalization policy negotiative in the world? Or on the other means; can we say “Beijing Consensus of 2004 is on the way for implementation in the world? President Bola Ahmed Tinubu and his team must be on alert and identify the right direction the world is heading as soon as possible (ASAP).
Dr. Abbati Bako, global political and economic analyst, IPRC, Nigeria and Treasurer Kano Chamber of Commerce and can be reached abbatibako@gmail.com
+2349077889959
