Author: The Nation

World Trade Organisation (WTO) Director-General, Dr. Ngozi Okonjo-Iweala and businessman Tony Elumelu, yesterday offered tips on how Nigeria can reverse its precarious economic fortunes and grow its economy.

They advised the incoming federal and state executives to create a conducive environment capable of attracting much-needed investments by addressing existing infrastructure and social challenges.

The duo spoke in Abuja at the induction ceremony for re-elected and newly elected governors, organised by the Nigeria Governors’ Forum (NGF), with support from Premium Trust Bank.

President Muhammadu Buhari was represented at the event by his Chief of Staff, Prof. Ibrahim Gambari.

The President urged those aggrieved over the outcome of the last general elections to explore lawful means to seek redress.

In his view, the outcome of the just concluded election showed that the nation’s democracy had improved and had elevated the electorate to the driving seat.

The President, who called for patience, noted that democracy was a process that takes time to mature.

“We must therefore be patient, tolerant and use the appropriate channels to seek redress if we believe there have been unfair practices along the way.

“As you can tell, I am speaking as a veteran of the process, with the scars to show for it.

“One interesting development that we all saw from the last election is that the electorate is maturing, and people are increasingly finding their voices.

“Any public officer who fails to either meet up with the expectations of the people or deliver on his campaign promises would be voted out in the next election,” President Buhari said.

The President urged the newly elected governors not to take public trust for granted.

Okonjo-Iweala and Elumelu expressed concern about the economy, particularly its rising debt profile, and dwindling production capacity. They suggested ways these can be remedied.

The WTO DG charged state governments to be creative, evolve ways of growing their resource base and depend less on federal allocation.

Okonjo-Iweala noted the country’s challenges on the fiscal, debt, and monetary policy fronts.

She said: “Nigeria’s gross debt level has climbed from N19.3 trillion in 2015 to N91.6 trillion in 2023. The debt-to-GDP ratio has almost doubled from 20 per cent to 39 per cent over that period.

“While the debt-to-GDP ratio may not look so alarming, as revenues decline, the burden of debt servicing has increased dramatically.

“The debt service to revenue ratio is certainly alarming, at 83.2 per cent in 2021 and 96.3 per cent in 2022, according to the World Bank. This means that at the federal level, after servicing our debt there is little room to pay for recurrent expenditures, let alone investment.

“The fiscal deficit of 5.3 per cent of GDP is higher than our agreed fiscal rule of 3 per cent of GDP. This has to be carefully monitored and brought down. Dealing with the fiscal deficit will, of course, be infinitely more difficult with an oil subsidy bill of N3.36 trillion for the first half of 2023 (or N6.72 trillion if it is not removed). The deficit is made worse by revenue losses from oil theft.

“The difficulties around this issue underscore the importance of political consensus – whether you are in government or the opposition – on policies critical for nation-building.”

“On the revenue side, states have a substantial responsibility. Too few states are raising internally generated revenue of any significance.”

She urged the newly elected officers to work to build trust among Nigerians and work on ways to address the divisions created by the last elections.

The former Finance Minister urged the government to address the increasing rate of emigration among the young population.

She said: “The most popular phrase in Nigeria now is ‘I am going to japa.’ I am not telling people not to go, but what I am saying is how many of these japas can we afford? If you japa we want you to ‘kakpa’ (return).”

“Excellencies, (referring to the governors) you must make your states and all of Nigeria a hospitable, encouraging place where young people want to stay and thrive, not leave.

“Much as we appreciate remittances sent home by these migrants, Nigeria will not develop and prosper if its youthful, tech-savvy population leaves. Without them, our demographic dividend disappears,” she said.

Elumelu urged the governors to evolve policies targeted at the youth to ensure the country benefits from their potential and capabilities.

He said: “I have seen how, in the power sector, when government, private sector and community align, the results are transformational.

“To our political leaders, united today, in this essential forum, I say create more private sector-friendly policies to increase wealth creation and encourage entrepreneurship.

“As leaders, policymakers, and stakeholders in our society, we must recognize the potential of entrepreneurship to promote youth engagement and wealth creation in Nigeria.

“We must invest in programs that support and encourage young people to pursue their dreams and develop the skills they need to succeed as entrepreneurs.”

Incoming and outgoing governors were reminded yesterday that power is transient.

They were asked to stay humble while getting ready for life after office, which has its challenges.

Former Senate President and Kwara Governor, Bukola Saraki, and former Edo State Governor, Lucky Igbinedion, shared their experiences about life after public office.

Their Niger and Gombe counterparts, Muazu Babangida Aliyu and Ibrahim Dankwambo, said with adequate planning, those out of the office can always get by.

They urged people in public office to always plan their exit from the outset in order not to be caught unprepared when their tenure ends.

The former governors spoke on Sunday night at a farewell dinner held in Abuja by the Nigeria Governors’ Forum (NGF) for outgoing governors.

Saraki, who was a two-term governor and ex-Chairman of the NGF, reminded the outgoing governors that things will not remain as they were and cautioned them against interfering in the affairs of the successor uninvited.

Read Also : Senate President Abubakar Bukola Saraki since 2015

He said: “Governors, please, note that from June, you are no longer governors. Please, leave your successors to do the work that they have to do. They will come to ask you for advice, please give them the device.

“As you exit as governors, you should brace up for the challenges ahead. It is a challenge when you actually exit the office.

“Spend more time with your family. Prepare yourself. Give more time to catch your flight, because no one is going to wait for you if you are late. The plane will go. 

“Save more money for more hampers because the number will come down. Save money for ram because you will now have to buy for yourself, unlike before,” he said.

Saraki advised the incoming governors to avoid confrontation with their predecessors.

Igbinedion, who was the NGF Chairman between 2006 and 2007, advised governors to always “be prepared mentally for your exit from the very first day you are sworn in because the job necessarily takes all of your time”.

He added: “You hardly can find time to focus on the planning for life after office. From the moment you are sworn in, the countdown begins.

“When you bow out, do not look back. I know it is not easy to transition from being the number one citizen in the state to becoming just another citizen.

“There is always the temptation to always want to remain in control of things that you have left behind or left in the office.

“Please, and I repeat, do not let the bug bite you. It leads to an unavoidable conflict with your successor and creates needless tension in the system.

“Let your successor seek your counsel. If he seeks your counsel, you should be gracious enough to offer advice. If he does not, then let him be. That way, you keep your self-respect and you are free to focus on the next stage of life’s journey.

“In or out of office, the core essence of one’s personality never really changes. I am an ardent believer that power does not change people it only reveals who they truly are.

“From personal experience, I can assure you that friends of the office are always birds of passage. The day you leave office is the terminal date of their fellowship with you. 

“Those who used to call you five times a day will not even bother to take your call not to mention calling you back. Believe me, it happens.”

Aliyu advised the incoming governors on the need to be focused on delivering good governance by making good appointments and effectively utilising the civil service.

The ex-Niger governor said: “As a human being, always bear in mind that whatever mode and style of leadership you adopt, you shall not be loved, praised and respected by all, you shall always have detractors and some who may never see any good in what you do. 

“So bear in mind, the opposition, those power mongers, influence peddlers, corruption influencers and those who use one item (like religion, tribalism, ethnicity) to gain favour these would enjoy the benefit of your office but later turn to crucify you too many betrayals around the corner. 

“I am sure many of you have seen the trend where the people who pretended they could not live without you, avoiding and shying away from you as the days of your departure draw near and they gravitate towards the person taking over from you.

“As a result of such people, I advise that you do not try to outshine the new person coming and to attempt to run the state by proxy. 

“Indeed, even if your son succeeds you, be careful how you handle your relationship with him as a governor because if you are sure of yourself, you may not be too sure of (his mother, your wife and his siblings). 

“So far, the majority of governors who tried to impose their successors have tended to disagree with them within a short time. 

“Nevertheless, whether you prove to be good or bad, you must know like death, you must leave that office. Please prepare to leave without too much baggage, no regret only nostalgia for the good things you have done,” Aliyu said.

Dankwambo urged both the incoming and outgoing governors to “ensure meticulous record keeping of major decisions and policies especially proceedings of the Executive Council. 

“Be prepared to face any challenges from national institutions such as the Economic and Financial Crimes Commission (EFCC)), the Independent Corrupt Practices and other related offences Commission (ICPC), the Nigerian Financial Intelligence Unit (NFIU), etc who may have questions that require answers.

“Be realistic. The endless gifts (rams, cows etc.) were being given with ulterior motives and will dry up… As much as possible, avoid meddling in the affairs of the new government. 

“Know that if you entrust large sums of money to your friends or business partners for safekeeping, retrieving it when you are out of office could be tricky as they are likely to betray you. So look before you leap. 

“Be prepared and expect backbiting and criticism from virtually all segments of society by persons whose expectations and desires have not been met during your tenure. Avoid a sense of ‘entitlement’ in your relationship with people generally,” Dankwambo said.

The national leadership of the Peoples Democratic Party (PDP) has voided the suspension of a former Governor of Kaduna State, Ahmed Makarfi.

Makarfi, a one-time Acting National Chairman, was suspended by the Executive Committee of his Tudun Wada Ward in Makarfi local government area of the state.

PDP National Publicity Secretary, Debo Ologunagba, said in a statement that the purported suspension was inconsistent with provisions of the PDP constitution.

The Nation had earlier reported that a former Vice President, Namadi Sambo, had on Thursday called for the intervention of PDP leaders in what he described as arbitrary suspension of party members by the Kaduna PDP chapter.

Ologunagba’s statement, which was issued on behalf of the National Working Committee (NWC), stressed that being a member of the National Executive Committee (NEC), Makarfi cannot be suspended by the executive committee of his ward.

The Senate has directed the Director General of the Securities and Exchange Commission (SEC) to return N594 million illegal vehicle allowances to the Consolidated Revenue Fund of the Federal Government.

The resolution followed the Senate’s adoption of the recommendation of the Public Accounts Committee on the 2018 report of the Office of the Auditor-General of the Federation (AuGF) which indicted the agency.

The Committee said it sustained the indictment against the agency following its failure to appear before it to defend the AuGF query against it.

Although the Commission made a written submission, it failed to appear before the Committee chaired by Senator Matthew Urhoghide (PDP – Edo South).

The AuGF query reads: “In 2013, the Director-General, while serving as Executive Commissioner, was paid the sum of N39 million as monetised car allowances to run for four years, but two years after he was appointed Director General, he was again paid the sum of N84 million as monetised car allowances.

“In 2015, the Commission procured four project vehicles to meet its need at the sum of N144 million, but instead of making use of the vehicles for purposes they were acquired, the Director General and Commissioners turned them to their sole uses, which contravened Chapter 9 (1)&(11) of the Commission’s Condition of Service.

“Also, the sum of N469 million was further expended on the payment of the monetised motor vehicle insurance in 2015 and 2016.”

“In the view of the foregoing, payment of N39 million in 2013 and N84 million in 2015, totalling N124 million to the Director-General was not proper and cannot be considered as proper charges against Public funds.”

The Senate, therefore, adopted the position of the Auditor General for the Director-General to refund N124 million paid to him and recover and remit N469 million expended on the payment of monetised motor vehicle allowances and motor insurance allowances from the beneficiaries to the Consolidated Revenue Fund and forward the payment details to the Office of Auditor General.

The Federal Government yesterday approved 37 new private universities.

The approval was announced at an extraordinary Federal Executive Council (FEC) meeting, presided over by Vice President Yemi Osinbajo at the Presidential Villa.

FEC entertained about 40 memoranda from various ministries, departments and agencies, including the approval for the establishment of 37 private universities.

According to the Minister of Education, Mallam Adamu Adamu, one of the institutions approved is an online university.

He said the newly approved universities have surged the number of private universities in the country to 72. 

Although he did not disclose the names of the universities, he revealed that online university would be the first of its kind in the country, and owned by a woman from Bauchi State.

The expectation is that it will cater for the likes of northern Muslim women who feel reluctant or are restrained from attending physical campus education.

Asked by journalists if the additional universities are really expedient given the funding challenges of existing ones, Adamu explained that these ones are all private, with enough funds to run them and they should not be denied the opportunity to exist.

Besides, he said Nigeria actually needs more universities as the available ones are not adequate to take up all those aspiring for higher education.

Minister of Aviation, Hadi Sirika, reaffirmed the seriousness of the President Muhammadu Buhari-led administration to ensure that the proposed national airliner, Nigeria Air, works before the 29th of this month when it will be leaving office.

“Yes, we are on course, we’re on course, and by the grace of God before President Buhari leaves office, it will fly. We are on course, we are on course and before May 29, it will fly”, Sirika said.