TDMore facts have emerged over why and how some rich Igbo businessmen were forced into “City Boy Movement”, a political programme orchestrated by Seyi Tinubu, the son of President Bola Ahmed Tinubu.
Background: Business, Politics and Survival in Lagos
Nigeria’s commercial capital, Lagos, remains the epicentre of high-value private enterprise.
For decades, access to land, regulatory approvals, import waivers, tax negotiations, and security protection has depended significantly on alignment with the political establishment controlling the state and federal levers of power.
The “City Boy Movement” — a political branding linked to President Tinubu — emerged as a dominant political current ahead of the 2023 general elections.
Within that context, visible endorsements by several high-profile Igbo businessmen in Lagos sparked intense public debate, particularly among supporters of Peter Obi.
This report examines the structural pressures — economic, regulatory and political — that may explain why prominent Igbo entrepreneurs publicly aligned with the ruling political establishment.
Who Are the Business Figures Involved?
Among the prominent names frequently mentioned are:
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Kennedy Okonkwo – CEO of Crest Homes, Lagos
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Obi Cubana – Hospitality entrepreneur; associated with Pablo Night Club, Victoria Island, and Cubana Ikeja
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E-Money – Major clearing and forwarding operator
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Stanley Uzochukwu – CEO of The Delborough Hotel, Lagos
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Cubana Chief Priest – Owner of Donald’s Fast Food, Lagos
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Christian Okonkwo – CEO of C-Energy Oil
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Jowizaza – CEO of Jezico Oil
Others referenced in political conversations include Nonso Ozoemena, Chima Anyaso, Vintage, and Enviable.
These individuals operate in sectors heavily dependent on state regulation — real estate, oil and gas, hospitality, import/export, and urban commercial infrastructure.
Economic Leverage: How Power Influences Business Operations
1. Land Allocation & Real Estate Approvals
Major developers building estates — including projects near strategic infrastructure like Eko Bridge — require:
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Land use approvals
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Environmental impact clearances
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Building permits
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Infrastructure access
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State government cooperation
Such approvals can be delayed, denied, or expedited depending on political climate.
2. Oil & Gas Licensing and Regulatory Exposure
Entrepreneurs in downstream oil and energy sectors operate under:
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NMDPRA licensing frameworks
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Customs and import documentation scrutiny
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Petroleum distribution permits
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Port access control
Regulatory agencies possess broad discretionary authority. Alignment with political leadership often reduces friction.
3. Hospitality & Entertainment Vulnerability
Hotels, nightclubs and event centers in Lagos depend on:
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Liquor licensing
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Noise regulation enforcement
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Safety inspections
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Local government levies
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Security cooperation
In politically tense climates, enforcement intensity can fluctuate.
Was It Coercion or Strategic Alignment?
Public discourse has framed their support in two dominant narratives:
Narrative A: Political Bullying
Critics argue:
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Subtle state pressure can discourage opposition alignment
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Business audits and regulatory scrutiny can escalate
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Informal signals from political actors can shape behavior
In environments where regulatory discretion is wide, perception of risk alone can influence decisions.
Narrative B: Rational Business Calculation
Others contend the endorsements reflect pragmatic realism:
No major businessman willingly confronts the government controlling taxation, security, ports, and land.
From this viewpoint:
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Business survival outweighs ethnic sentiment
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Political stability protects capital investment
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Strategic neutrality is often impossible in polarized elections
Entrepreneurs prioritize continuity of operations over ideological positioning.
Tribal Politics vs Electoral Mathematics
The 2023 Lagos results complicate simplistic tribal interpretations. Despite strong Yoruba political dominance, Peter Obi defeated Bola Ahmed Tinubu in Lagos during the presidential vote.
This outcome suggests:
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Urban voters are not strictly bound by ethnic identity
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Electoral behavior reflects class, youth demographics, and urban reform sentiment
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Business endorsements do not necessarily dictate grassroots outcomes
Therefore, the political equation transcends ethnic solidarity alone.
The Reality of Power Asymmetry
Nigeria’s political economy operates within a system where:
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The state is the largest economic actor
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Access to infrastructure depends on political goodwill
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Regulatory discretion is expansive
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Political alignment reduces uncertainty
Under such a framework, public political positioning by major businessmen may represent risk management rather than ideological conviction.
Conclusion: Survival Over Sentiment
In high-risk emerging markets, capital preservation often supersedes identity politics.
For many prominent Lagos-based entrepreneurs of Igbo origin, public alignment with the dominant political structure can be interpreted as a strategic hedge against regulatory vulnerability.
Nigeria’s elections are influenced by multiple variables — class dynamics, regional alliances, incumbency advantages, and urban mobilization — not tribal arithmetic alone.
Whether one views these businessmen as coerced, pressured, or simply pragmatic, the broader lesson is clear: in Nigeria’s political economy, proximity to power remains a decisive business asset.
