Nigeria is often referred to as the “giant of Africa”, given its huge population and economic potential, but it has some gigantic problems too and these will confront Bola Tinubu as he takes over as president on Monday.
The 71-year-old is unlikely to be fazed by the challenges. As a two-time governor of Lagos, he revitalised Nigeria’s commercial hub – no easy task – and is well aware of the issues.
But Nigerians, even those who did not vote for him, will want to see early results from Mr Tinubu. Here are some of the major hurdles he faces and how he may tackle them.
Ending the fuel subsidy
This challenge has been kicked down the road by successive governments since its introduction in the 1970s.
Despite its oil riches, Nigeria is unable to refine enough crude to meet local demands so it imports petroleum products, which are then sold at a government-set price. As this is usually lower than the import price, the government pays the difference.
But this subsidy is taking a huge toll on dwindling public finances. Last year it guzzled 4.3trn naira ($9.3bn; £7.5bn) and for the first half of this year, 3.36trn naira was budgeted.
These payments come at the expense of development goals such as building schools or hospitals, but removing the subsidy will not be easy as it will lead to an increase in prices.
The last attempt to do so in 2012 ended in widespread protests.
Many struggling Nigerians, used to seeing politicians mismanaging the country’s oil wealth, believe cheap petrol is their share of what has been described as the “national cake”.
But Mr Tinubu has firmly repeated that the subsidy has to go, and his associates insist he has the political will to do it.
