The Nation Newspaper

Category: Comments

  • As cartel hangs Nigeria in the balance

    As cartel hangs Nigeria in the balance

    • By Wole Olujobi

    Nigeria, again, is on the tenterhooks. After a cliff-hanger poll that returned President Bola Ahmed Tinubu in the February 25, 2023 presidential election, the pre-June 12, 1993 presidential poll subterfuge and tactics that denied Nigerians the best electoral process and claimed the life of the winner, the late MKO Abiola, are being resurrected to give effect to the scheme of Nigeria’s mafia that runs the nation’s political economy. 

    For these partisan taskmasters and their collaborators in the dark world of oil business, it is a matter of life and death in the business of holding the levers of power to enjoy the monopoly of interests.

    The method is holding the nation to ransom by crippling the economy, create conditions for unrest, use the negative and often the intended effects of their evil schemes to manipulate the civil society to an act of rage, create conditions for mass poverty among the productive segments of the society, fund the youth groups to become despondent and willing tools against their own fortunes, create a large pool of hell-raisers and let out these dogs of war to fight a battle they don’t stand a chance to benefit anything. That is the tactic of the mafia groups all over the world in their evil plots.

    Organised crime is a highly centralised enterprise that seeks to infiltrate politics and extract public resources for private benefits.

    In Italy notorious for cell crimes, for example, the mafia frequently threatens politicians to obtain government contracts that pay handsomely. Individual politicians or businessmen who threaten those business interests may find themselves in danger. Physical assaults, arson and threats are the mafia’s favoured tactics to drive their agenda. For instance, after the director of a Sicilian national park in 2016 in Italy strengthened anti-mafia checks on local firms applying to work in the park, he narrowly survived a night-time assassination attempt.

    Unfortunately, as organised crime groups enrich themselves, they impoverish the people. Their tactics include using insiders to carry out their crimes and targeting people who are business competitors, just like the alleged involvement of stakeholders in the critical nerves of the nation’s economy, namely NNPC and Central Bank, among others, in the ongoing economic crisis allegedly fuelled by certain interest groups.

    Ordinarily, mafia has no interest in hurting ordinary people: they targeted their competitors and devise means to always have the upper hand. But again, ordinary people are parts of the tools used by mafia groups to achieve their plans.

    Read Also: Tinubu addressing demands, no need for protest – FEC

    In case of Nigeria, there are two competitors in the contest ring for power: the established authorities and the cabals that protect personal interest above state’s interest.

    Unfortunately in most cases, the mafia often operate within the establishment or they have collaborators within the system. For the latter, like the ‘Ndrangheta’ mafia group in Italy widely considered the richest and most powerful mafia in the world, personal interest of members is far more valued than the collective interest of the public.

    It is in this context that the current fuel supply brouhaha in Nigeria can be located in a contest between public interest and personal interest of the cartel.

    The style, they say, is the man. For the People’s Democratic Party (PDP) with the frightening records of sleaze and its offspring in the Labour Party that thrive in mob tactics in driving their agenda, the manipulation of the pedestrian rabble into an act of rage against the opponent is the most clinical way of achieving predetermined ends.

    Just like the mafia did ahead of the February 25, 2023 presidential poll, the target of the current mob tactics of the cartel is the resumption of subterfuge that played out ahead of the February 25, 2023 presidential poll to stop Tinubu from taking the nation’s presidential cake.

    The tactics included EndSARS riots in Lagos with Tinubu’s assets, real or imagined, as objects of mob attacks, fake opinion polls predicting Tinubu’s loss, unfounded certificate forgery allegation and allegation that Tinubu planned to foist his family members on government’s establishments to hold the most strategic positions in government.

    For the mafia, those who stole their states’ assets to acquire private properties around the world or who held one of the biggest stakes in Panama Files saga and those who used Special Purpose Vehicles to steal the country blind through the Obasanjo’s fraudulent privatisation programme, to acquire public utilities, were better than a man who turned Lagos State to the third biggest economy in Africa.

    Now the beat is changing to alter the dance steps of the nation in a hurry for growth in a world wracked by universal economic meltdown that is stifling the most developed nations of the world, but which Nigerian cartels are painting as Nigeria’s sole local crisis.

    After years of fuel subsidy chaos that saw a few Nigerians stealing billions of dollars that left majority of Nigerians in poverty, Tinubu’s solution to the theft has reawakened the mafia to bare their fangs, incinerate the nation and distract the president to fail in his development agenda and, ultimately, to see his untimely exit from the Aso Rock in order to install a contraption that will protect the interest of the mafia.

    Nigeria runs a mono-economy that thrives on oil production. To hurt Tinubu, degrade his capability and capacity to deliver on campaign promises, thus paving the way for his failure and forced exit from the Aso Rock, they ensured that the nation’s refineries are incapacitated, to cripple the nation’s capacity in the business of oil production that is the live wire of the economy.

    Aliko Dangote built one of the biggest and most modern refineries in the world that has potential to end fuel misery among Nigerians. In order to discredit the billionaire businessman that they see as a threat to their interest, even as Dangote, in overt conspiracy, is being denied supply of crude for his refinery in a country that ranks among the biggest in crude production.

    Protest is a universal concept in civil demand for good governance. But when the import of civil protest is couched in fatality like the one being planned by the cartel in Nigeria’s oil business in cahoots with the failed candidates in electoral contests, the intent is other than noble and has the trappings of national combustion, the end of which may be difficult to predict. Yet, there is no let-up in the impish plot to cause national uproar that holds no promise for the health of the nation.

    The mafiosi of the right in their diabolical intents have invaded all the nooks and crannies of the country, plotting violent demonstrations, asking Tinubu to vacate the office. For them, unlawful and forceful takeover of government is a viable option to take power after they failed to secure Nigerians’ endorsements at polls.

    Just like the practice among the mafia worldwide, they combine these criminal acts with political blackmail by organising mobs across the country to stage protests asking Tinubu to abdicate office.

    Like in Italy, Mexico and Colombia, Nigerian mafiosi have since compromised ordinary unwary citizens to rebel, declaring that while Tinubu has run aground the nation’s economy, Dangote produces substandard oil not fit for the nation’s industrial machines. They won’t acknowledge that what Nigeria is going through today is consequent upon the effects of their past criminal activities, which forced Nigeria to a consumption economy instead of production economy that fuels economic development and prosperity among citizens.

    The current mob attacks planned by the mafia tagged “Days of rage” commencing from August 1, speaks volumes of the intendment of the planners in cahoots with the mafia sponsoring them ahead of the jostles for the 2027 presidential ballot. Just like they called for Tinubu’s head before the election, they still insist on harvesting his head in a platter.

    As things stand today with the cabal and oil mafia raving and raging with their sledgehammer ready to nail the nation’s economic coffin over the personal interest of the few, Nigerians must wake up from their inertia to take their fates in their hands to resist the mafia’s man’s inhumanity to man and claim their destinies in a prosperous nation governed by a visionary leadership.

    •Olujobi, a journalist and Commissioner in Ekiti State Local Government Service Commission, writes from Ado-Ekiti.

  • Miracle Harris

    Miracle Harris

    She was tapped for the presidential race exactly 107 days before election day. Within the available time, she is to alchemise a party in disarray into a united and potent force, clinch the nomination that momentarily seemed a toss, redirect the party’s mood from despondent anticipation of defeat to resurgent pursuit of victory, upend a long headstart of victory run by Republican nominee Donald Trump, plus overawe historical prejudices about gender and race. That was the task slate thrust on United States Vice President Kamala Harris over the past week; and so far, she’s maximised the moment. She transformed into the presumptive Democratic nominee without having run a primary, and has rattled the very core of Trump’s candidacy.

    Harris entered the race after 81-year-old President Joe Biden bowed to pressure and dropped his bid for re-election. No sitting American president reportedly ever dropped out of a race so late in the election cycle. Biden was Democrats’ presumptive nominee for the 2024 presidential race, but his candidacy bottomed out following a calamitous debate performance against ex-President Trump on 27th June that escalated simmering fears about his cognitive grit and overall health to serve another four-year tenure.

    Following that debate, the octogenarian came under intense pressure from his party folk to pass the torch, which he did penultimate Sunday. “While it has been my intention to seek re-election, I believe it is in the best interest of my party and the country to stand down and focus entirely on fulfilling my duties as president for the remainder of my term,” he said in a statement. But he didn’t just throw the race, he gave Harris his “full support and endorsement” in a social media post. “Democrats, it’s time to come together and beat Trump,” he said in rallying the party behind her.

    Upon being thrown in the race, Harris swiftly picked the tabs, saying  she was “honored” by Biden’s endorsement. The catch, however, was: even though the president had locked down some 3,900 delegate votes from the primaries held earlier this year to pick the Democratic torchbearer in the 5th November poll, current party rules did not permit him to pass them on to another candidate. Hence, Harris said her intention was to “earn and win” the party nomination, and she sprinted for that mark at a dazzling pace. Within 24 hours of Biden’s endorsement, she pooled support from top Democrats, choked off running room for potential rivals for the party ticket, sparked a fundraising deluge and fired up a demoralised party that had seemed resigned to imminent defeat. Against a backdrop of donor cash freeze that helped force Biden’s hand, Democratic wallets were unzipped, such that the ‘Harris for president’ campaign netted a $81million haul in one day, according to her team.

    The vice president’s outreach blitz to coalesce the party behind her candidacy smacked of an operation primed before time but kept secret between her and Biden. Ahead of the Democratic National Convention scheduled for 19th to 22nd August in Chicago, where the party’s nominee will emerge, she’s largely succeeded in strangling any hope of alternative candidates and is already looking forward to a match-up against Trump, the Republican torchbearer. She comes with in-built edge over any other rival for the Democratic ticket anyway, because she inherited an already existent campaign machinery from Biden and may as well take over the $96million in his defunct campaign’s coffers.  

    Read Also: Surulere youths urge Nigerians to shun protest

    On the heels of Biden’s endorsement, Harris picked other endorsements from party bigwigs like ex-President Bill Clinton and his wife, Hillary, who is a former secretary of state and herself Democratic nominee in the 2016 presidential poll. California and Pennsylvania governors, who had been touted as potential contenders for the nomination, fell into line behind her; and so did many high-profile Democratic lawmakers. Former President Barack Obama, who was silent on Harris in an initial statement praising Biden for standing down, is reported to have now endorsed the vice president and along with his wife. Michelle, pledged to work for her victory. The most significant endorsement Harris picked was from former House Speaker Nancy Pelosi, who is reputed as America’s most influential Democrat and whose backdoor manoeuvering was instrumental to ending Biden’s stalled reelection bid. “It is with immense pride and limitless optimism for our country’s future that I endorse Vice President Kamala Harris for President of the United States,” she said in a statement early last week.

    Outside of the Democratic Party, Harris’s entry fundamentally rewired the presidential race. A painstaking home run to victory for the Republicans suddenly turned a two-way sprint whose outcome is effectively up in the air; and in a race that Trump was on a trajectory to win, Harris has butted in as the ultimate X-factor. With the Democratic nomination she’s poised to get, she will be the first Black woman and first Asian-American to lead a major political party ticket in the US. But she is up against a feral campaign, considering Trump’s reputation for misogynistic slurs and racially charged rhetoric that he is prepped to unleash.

    Harris’s candidacy holds promises and perils for Democrats. She inverts the age argument that Trump and his campaign had damagingly used against Biden. Unlike the 81-year-old president, Harris is aged 59 years whereas Trump is aged 78. Within minutes of Biden quitting the race, Democrats pivoted on Republicans, questioning Trump’s capacity to govern into his eighties. Besides, Harris affords Democrats a far more vigorous campaigner than Biden, and she should be able to barnstorm the US continent at a pace faster than Trump.

    Public record of personal character is another factor Harris’s candidacy could leverage on. Before going to Washington, she was in 2011 elected attorney-general of California, and before then she was in 2004 elected the district attorney of San Francisco. In the short time she’s been in the race, she has formatted the choice facing Americans as between a prosecutor and a convicted felon – obviously referencing her personality record and that of Trump, who recently bagged 34 felony convictions in New York and faces future criminal trials. As a senator, before the vice presidency job, Harris had a reputation for needling interrogation of people who came before Congress judiciary committee of which she was a member. That is a trait she could deploy in debates with Trump, who himself has dropped the gauntlet. He was reported saying in a conference call with journalists last week that he “absolutely” wants to debate Harris and “would be willing to do more than one debate, actually.”

    Harris in the last week handed Democrats a much-needed jolt of momentum that turned the tide of their foundering campaign under Biden. The Trump camp most likely didn’t anticipate such shake-up of a race he was winning by almost every metric – almost to the point of now being forced onto the back foot. As it were, the Republican campaign must recalibrate, given that Harris’s candidacy has the potential to mend sectors of the Democratic support base that for different reasons had been alienated by Biden. Her candidacy promises to boost enthusiasm among young, Hispanic, Black and women voters. But there is a flip side. Her extreme liberality on abortion and gay rights will likely estrange voter blocs that Biden’s moderation had accommodated and send them consolidating around Trump.

    There are other perils. Every candidate is human and foible-prone, and the tight timeline before election could magnify any misstep Harris makes (although, there’s as well an inverse advantage of the short time minimising such chances). If in the coming days or weeks, she stumbles, Democrats risk being viewed as a party presenting America another candidate who is not up to the job, just like they did with Biden’s proposed but now aborted second term.

    As Biden’s second-in-command, Harris faces the tricky burden of touting agenda continuity where some agenda are deeply embattled, like Biden’s immigration policy and America’s current posture on Israel’s war in Gaza. The test will be for the presumptive Democratic nominee to find a balance between selling Biden’s popular accomplishments, while soonest breaking from her boss and benefactor on unpopular ones for her own political good. She gave an indication of that when Israel’s Prime Minister Benjamin Netanyahu visited the US last week. Speaking on her meeting with Netanyahu, Harris affirmed her unwavering commitment to Israel’s right to exist and to defend itself against Hamas, which she tagged a “brutal terrorist organization.”  But she red-flagged the Palestinian toll of Israeli operation, saying: “What has happened in Gaza over the last nine months is devastating. We cannot look away in the face of these tragedies, we cannot allow ourselves to be numb. And I will not be silent.”

    In my piece last week, I wrote that it would take a miracle to upset Trump’s victory run in the November poll. Harris is proving to be that miracle.

    •Please join me on kayodeidowu.blogspot.be for conversation.

  • Economy: What the numbers are saying

    Economy: What the numbers are saying

    By Temitope Ajayi

    On Thursday in Abuja, Minister of Finance Wale Edun addressed a press conference and gave a mid-year report on the economy. The minister told the press what President Tinubu’s administration had done in the last year to address some of the structural imbalances in the economy, working with the fiscal and monetary authorities.

    The minister, who will henceforth address a quarterly media briefing on the state of the economy, highlighted that the economy grew faster in the first quarter of 2024 than in the first quarter of 2023.

    According to him, economic activity in the first quarter of 2024 was not only faster than the first quarter of 2023, but it was also the second fastest first-quarter growth in the last six years.

    Edun noted that the economic growth was broad-based across several sectors, including agriculture, industries, and services. The minister specifically mentioned that the agricultural sector recovered from a negative position in the first quarter of 2023 to a modest growth in the first quarter of 2024. As the minister pointed out, the industrial sector also grew seven times faster in the first quarter of 2024 than in the first quarter of 2023.

    Read Also: Nigeria, USA sign MoU to strengthen economic ties

    Edun linked the positive economic performance and upswing to the government’s well-coordinated fiscal and monetary policies.

    On the revenue side, the Coordinating Minister of the Economy explained that aggregate federal government revenue in the first half of 2024 was more than double of the corresponding period in 2023. According to the minister, the growth in government revenue was due to the reconfiguration and improvement in government finances, with oil revenue as a percentage of gross revenue increasing from 11 per cent in the first half of 2023 to 30 per cent in the first half of 2024.

    Here are the numbers as presented by the minister:

    Non-Oil Revenue

     The government’s determination to mobilise non-oil revenue has consistently delivered impressive results. For the half-year 2024, non-oil revenue not only surpassed the revenue in the first half of 2023 but was also 30 per cent above the 2024 budget target without any increases in taxes.

    National Debt Burden

    The Tinubu administration in the words of the minister has been working to manage and reduce the national debt to create better fiscal headroom for economic management. In dollar term, Edun pointed out that Nigeria’s debt burden has reduced and the government’s fiscal deficit has improved.

    “Our debt has fallen in dollar terms from $108 billion to $91 billion. Additionally, the government has diligently serviced all its loans and obligations with no recourse to ways and means of financing. The government has met all its obligations,” Edun said.

    Ways and Means

     In the last year, the administration has exited the Ways and Means debt trap due to better management of the fiscal space, as the federal government, under the leadership of the president, has not relied on borrowing from the CBN Ways and Means to fund its obligations. Edun pointed out that part of the inflationary pressure the country is currently experiencing was a result of the past abuse of Ways and Means. The federal government has paid back the previous N7.3 trillion obligations within a year of President Bola Tinubu’s administration.

    Debt Service to Revenue

     In meeting its debt obligations to avert any form of default, the Federal Government of Nigeria, for decades, has been spending more than half of its revenue on debt servicing. By the end of June 2023, the federal government was spending 97% of total revenue to service debt. In the last year of President Tinubu, the country has recorded a positive trend in the debt service-to-revenue ratio. Currently, the debt service-to-revenue ratio has declined from 97 percent in the first half of 2023 to 68 percent in 2024, indicating the government’s strong position in managing its debt obligations.

    Budget Deficit

     It has been a major priority for the economic managers to reduce the budget deficit. To achieve this, the federal government, in the last year of the Tinubu administration, improved government revenue collection and blocked a lot of leakages. Edun noted that the 2024 budget deficit has moved in the right direction, with a target of 4.1 per cent of GDP, an improvement from the 6.1 per cent deficit recorded in 2023.

    “On an annualised basis, we are at 4.4 per cent, so you can see we are effectively very, very close to the budgetary target,” Edun said.

    Foreign Inflows

    The government’s efforts to attract more foreign inflows into the economy continue to yield good outcomes. The minister said the government will continue the reforms and improve the business environment to engender confidence further. Edun underscored the government’s efforts to attract foreign inflows; including implementing the national single window project, which he said will generate $2.7 billion annually in economic benefits. The minister added that the government’s accelerated stabilisation and advancement plan has already attracted $500 million in investment in the gas sector, with $7 billion more on the side-lines waiting to come in.

    Inflation and High Cost of Living

    To address the current high cost of living and bring more relief to the masses, the minister again pointed out that the government has implemented several initiatives and interventions, including a strategic input programme to increase the supply of food, a pivot to Compressed Natural Gas (CNG) fuel for mass transit vehicles, and providing lower-cost financing for the manufacturing industry and production. Edun, who sympathised with Nigerians for the current hardship, which he also noted will soon blow away, expressed optimism that inflation, despite being “quite sticky at the moment,” will decelerate and come down due to the government’s commitments and actions.

    Edun said: “Clearly, as part of the reform program, on the monetary side, monetary policy has been tightened. CBN has been proactive in adjusting the monetary policy rate to address inflation head-on, which is in line with its legal mandate.”

    • Ajayi is the Senior Special Assistant to the President on Media and Publicity.

  • Joe Biden’s ouster as good riddance

    Joe Biden’s ouster as good riddance

    By Alade Fawole

    Few days ago, news came that US President Joe Biden would, contrary to earlier stand, not be running for a second term of office. Informed sources insinuated he was actually pressured into or had this decision forced on him by the real powers in the Democratic Party, and by the threat of major campaign donors to cease funding support. Since he bluntly refused to gloriously close his long political career by himself, force majeure abruptly terminated it for him.

    Since this not-so-glorious ouster from the contest for the presidency, many across the globe have effusively praised him for his ‘statesmanship’, ‘patriotism’ and dedication to the finest ethos of democracy. I don’t buy any of that claptrap. This paper in an editorial (July 25) also dubbed it as a “noble act” and “a step for democracy.” I doubt anyone seriously means these ego-massaging statements; it’s probably the courteous and diplomatic thing to say in the circumstance.

    Accepting not to run for a second term ab initio would have been the most statesmanlike thing to do. He knew all along that he is no longer fit and suitable for the onerous task of presiding over the most powerful nation on the planet and with a finger close to the ominous red button that could trigger a nuclear Armageddon and terminate human civilization as we know it. Only a physically, mentally fit and alert person should be allowed such a highly sensitive and globally consequential office as President of the United States, and Commander-in-Chief of its vast armed forces spread over 800 bases in about 80 countries and all the world’s oceans. Not seeking a second term would simply have been an admission of the obvious human frailties of old age, not one to be celebrated.

    Had he done that at the appropriate time, he would have given his Democratic Party a greater chance for adequate mobilization against a formidable nemesis like former President Donald Trump who had already gained considerable mileage in the race for the White House long before he was recently garlanded at the just concluded GOP Convention. He had also built a colossal campaign war chest from billionaire donors to boot. Frustrated that Biden would not do the right thing, even after his plainly disastrous performance in the televised presidential debate with Trump, the real powers in the party swiftly decided to push him out before he completely wrecked the party and totally ruined the chances for the Congressional candidates standing for re-election in November.

    Read Also: Residents clamour for return of monthly sanitation

     Vice President Kamala Harris, whom he has had to endorse, has also been gifted needed endorsement by the party’s grey eminences and wealthy donors but may still have to slug it out with other contenders for the prize at the Democratic Convention in August. No doubt, Biden’s obduracy has unduly harmed or constricted his party’s chances of defeating Donald Trump in November. But then, never say never, for 24 hours is a long time in politics.

    Why do I consider Biden’s ouster a good riddance? The most honest thing for me is his toxic reputation as a bloody-thirsty warmonger, with neither qualms nor compunction in wilfully sacrificing hundreds of thousands of human lives in other parts of the world for the satisfaction of personal political aspirations. He instigated the ongoing war in Ukraine by intentionally provoking Russia’s invasion of Ukraine in 2022, only to cynically condemn it as “unprovoked attack.” Holders of power often lie so brazenly because there aren’t any consequences for bad behaviour. Under the pretext that Ukraine would be admitted into NATO, thereby pouring more than $100 billion of lethal armaments into a war he knows quite well Ukraine never had any hope of winning, Biden is vicariously responsible for the deaths of hundreds of thousands of Ukrainian and Russian soldiers and civilians. His administration’s main agenda is to employ Ukraine as a hapless proxy and a battering ram to achieve destruction of Russia’s economic and military power. Instead, it is Ukraine that has been destroyed, turned into a rump state, with millions of its citizens internally displaced and millions more as refugees in other countries; a fifth of its original territory now fully under Russian military occupation, with nary a chance of ever regaining it by armed contest.

    Both the Biden-enabled and facilitated Russia-Ukraine war and Israel’s genocidal slaughter in Gaza have caused the world considerable hardship and discomfort – global supply chain disruptions, and blocking of vital sea-lanes to prevent adequate supply of necessities for survival and development. European countries, now fatally hobbled by energy shortage and higher prices after US destruction of Russia’s pipeline that hitherto had supplied cheap gas to fire their industries and heat their homes, have become pathetic vassal states. They are paying the price for the foolishness of not taking Henry Kissinger’s famous admonition to heart: it may be dangerous to be America’s enemy, but to be its friend is fatal!

     Since October 7, 2023, Israeli military, wilfully enabled by Biden, has ceaselessly and heartlessly slaughtered hundreds of thousands of defenceless Palestinian civilians, mostly women and children, brazenly committing horrendous acts that constitute war crimes, crimes against humanity and crimes of genocide in the eye of international law, all to please the Israel lobby to support and fund his re-election campaign. The result of his relentless supply of lethal American weapons and billions of dollars in economic assistance to the apartheid state of Israel is the ceaseless daily flow of barrels of innocent blood in Gaza. Though he has the power to stanch this needless flow of blood, his political ambition would not let him consider it. 

    Power is both sweet and corrupting, and those who hold it or aspire to hold it risk becoming bad people. To hold on to power requires doses of ruthlessness and inhumanity, and President Biden is prominently in this category. Ukraine, Gaza, and the risk of nuclear Armageddon by taunting and provoking nuclear-armed Russia and China in their own geopolitical neighbourhoods, all to sustain the image of a great wartime president and commander-in-chief. But then, in the words of British historian, Lord Acton (1834-1902), “Great men are almost always bad men, even when they exercise influence and not authority.” Biden is such a bad man.

    It definitely must be in the DNA of politicians to be selfish, self-seeking and self-serving. Are we not always being persuaded, by the same politicians of course, that politics is about serving the good of the public? If so, why do politicians the world over almost always exhibit both subtle and reckless predilection for selfishness and utter disregard for public wishes? What more could Biden at 81 years old still want? He has been in public office for all of five decades – US Senate for 36 years (1973-2009), Vice President for eight years (2009-2017), and at the pinnacle of power as President for four years (2021-2024). At 81, his physical and mental decrepitude glaring to all, still wanted to run for office for another four years! Power must be too sweet to let go. And yet American leaders have the cheek to excoriate Africa’s sit-tight rulers. Imagine the impertinence.

    •Professor Fawole writes from Ikire, Osun State.

  • Infrastructure neglect: Abiodun cleaning the augean’s stables

    Infrastructure neglect: Abiodun cleaning the augean’s stables

    • By Femi Ogbonnikan

    The residents of the Alagbole-Ajuwon and Akute axis in Ifo Local Government Area of Ogun State are pained and angry. So also are their counterparts along the Agbara-Lusada-Atan corridor in Ado-Odo/Ota Local Government Area. They are all aggrieved over the reckless abandonment of their roads. The immediate past administration of Senator Ibikunle Abiodun did.

    He did it with impunity and a lack of empathy for the suffering of the common people. It is not unusual for a government to leave behind an uncompleted project in the face of dwindling resources. Just like life itself, the unexpected can happen. But there is a reasonable level such projects will reach without causing more hardship than envisaged for the community concerned. Willy-nilly, former Governor Amosun awarded the contract for the construction of these roads and ordered the demolition of houses along the corridor only for the contractor to disappear into thin air midway into the project. Since then, life has remained miserable for the hapless residents as every onset of the rainy season always comes with a nightmare.   

    Recently, borne out of frustration, some social media freaks took on the matter, directing their rightful indignation at the incumbent Governor, Dapo Abiodun. However, he took the scathing criticism of his administration in good faith and immediately swung into action. Recently, he took time out of his busy schedule to visit the sites for an on-the-spot assessment of the projects. There and then, he promised that relief would soon come their way and the untold hardship would be a thing of the past. It’s a horrific site to behold, indeed. Only the individuals with stone hearts can leave the scene with dry cheeks. It’s better imagined than experienced.

    There is nothing impunity cannot do. And it’s the bane of governance in this country. In most cases, leaders capitalize on people’s lack of indignation and capacity to do things haphazardly and get away with them.

    As Governor Abiodun is one person who does not believe in the blame game, he has promised to take on the challenge of the infrastructure deficit he inherited from his predecessors for the ultimate realization of his transformation agenda for the good of all and sundry.

    On Monday, precisely July 8, 2024, he gave a matching order to the contractor handling the construction of the Denro-Ishashi-Akute Road to ensure the completion of the project within two weeks.

    The governor also disclosed that work would soon begin on the Alagbole-Ajuwon and Akute-Ajuwon roads in the Ifo Local Government Area of the state. He noted that the construction of the Denro-Ishashi-Akute Road started almost three years ago, directing the contractor to mobilise to the site immediately and ensure the completion of the project in two weeks.

    He further reiterated his promise to ensure equitable provision of infrastructures across the state, adding that this is being followed religiously.

    He said his administration had kept faith with his promise to ensure that road construction is evenly spread across the 20 local governments in the state.

    Hear him: “My pledge is that I have come here today to see things for myself. There are two roads that are considerably important to our people.

    “First of all, the Denro-Ishashi-Akute Road, I have given the contractor a matching order that the road must be completed in the next two weeks, asphalt and the bridge.

    Read Also: Election losers want to overthrow government through protest, says Wike

    “I want to assure you all that it is your time now. It is your right. You voted for us. I am a promise-keeping governor. I will not make empty promises.

    “Now, within the next two weeks, a maximum of three weeks, active construction will start on Alagbole-Ajuwon and Akute-Ajuwon roads.

    “Today, here, we’ve reconstructed Olusegun Osoba-Toyin Street, Denro-Ishashi-Akute is under construction. We have so many other roads we’ve constructed here. But because there are so many deficits in the infrastructural development in this area, at times, it appears as if we are not reconstructing them as fast as they want us to.

    Assuring the community of his administration’s commitment to ensure equitable infrastructure development, Abiodun explained that the deficit he met on the assumption of office had made him wonder what the previous administrations were doing.

    He said although the past administration had good intentions for the people of the state, he decried the reckless manner in which the project had been abandoned after structures had been demolished and single carriageways turned into dual carriageways.

    “When I assumed office on the 29th of May, 2019, the deficit that we met on assumption of office was such that we began to wonder what the previous administration was doing.

     “In some instances, they appear to have good intentions, they go to the roads, they demolish houses, roads that should not be more than a single carriageway, they turn them to dual carriageway By doing so, they remove all the asphalt that was there serving the people and abandon these roads.

    “We inherited quite a lot of these roads. Some of those roads are federal roads, and you know our people cannot differentiate between federal and state. They will geo-locate their pains where and when they are feeling it,” Governor Abiodun lamented.

    In keeping with his promise to give every section of the State a true sense of belonging, he listed other roads that had been penciled down for construction including Hercules-Giwa (Oke- Aro Rd), some section of Akute- Ijoko road, and the road leading to Yakoyo.

    He stated that his administration had to draw up the priority list taking into consideration vehicular traffic and the economic impact of some of the roads it had embarked upon to date, adding that his administration would continue to put the people first.

    He went on: “Let me give you an example of the road that goes from Agbara-Atan-Lusada road. When I assumed office, trailers carrying containers were falling off on that road. That is the road that leads to the biggest industrial estate not just in Nigeria but one of the biggest in Africa.

    “It is a road that counts for hundreds of thousands of employees and employers. So, it is important for us in Ogun State. I had to prioritize it, and it is a federal road.

    “So, we have to draw up a priority list and the priority list amongst others factored in the vehicular traffic, the economic impact.

    “Ijebu-Ode-Epe road is a road that evacuates people from the Lekki corridor to the Eastern flank of Nigeria. That road was non-existent. I had to prioritize that road. Sagamu-Abeokuta Road, the road leading to the state capital, was not good. People were dying. I had to prioritize that road, another federal road, and so many other roads.

    “Today we can brag and say not only have we constructed 600 kilometers of highways or roads, both inter-state, intra-state, inner-city roads, but, I beat my chest that there is no local government in Ogun State today that does not have at least one or two roads that we have reconstructed in the last five years and that is in line with been equitable and fair,” he said.

    The Governor’s inspection tour did not leave out the 20-kilometre Agbara-Lusada-Atan in Ado Odo/Ota Local Government Area which has been in a deplorable condition. On Wednesday, precisely July 10, 2024 while speaking to newsmen on his action plan for the project, he promised that the ongoing construction work on the road would be completed in September. He also stressed the importance not only to the economic well-being of the State but the nation as a whole.

    Recalling the meeting he had with industrialists in the area before his assumption of office, he promised to put the road in a better shape soon. According to him, the road was in a terrible condition, leading to trailers and other articulated vehicles falling on their sides. However, concerned with the plight of the residents, he said his administration decided not to wait for the Federal Government before commencing its reconstruction.

    Governor Abiodun expressed optimism that the road would revive businesses and the socio-economic development of the area on completion. He said he was on the road to see the level of work done so far and assured that it would be dualised from the Lagos-Badagry road end to the Agbara Industrial Estate gate, while a single lane would be constructed to Atan to aid movement.

    Unveiling the glad tiding, he said: “I am here today to have an on-the-spot assessment of how the contractor is doing. I have given them certain timelines, and I want to ensure that they are working in tandem to ensure they meet those timelines.

    “I have said to them that they must ensure that from the Lagos-Badagry end, the dual carriageway is completed to the entrance of the industrial estate, the OPIC entrance so that trucks and trailers that coming from the port can enjoy the dual carriageway easily going in and out effortlessly so we can increase productivity and enhance their operations.

    “We will now focus on one lane beyond the OPIC entrance all the way to Atan first. Let’s finish that so our people can enjoy the driving pleasure all the way from Lagos-Badagry to Atan on one side.

    “One side is 4.75 wide. It will take at least four vehicles. Let’s finish that because this road has cost us so much.

    “You can imagine a few months ago, you awarded a contract. Before the ink dries up on that contract, the cost of asphalt has increased three times in one day. So I said, let’s finish this because we are committed to it. We are a promise-keeping administration. We only make promises that we can keep.”

    Similarly, the hardship being encountered by motorists plying the Lagos-Abeokuta Express Way will soon be a thing of the past, as Governor Abiodun and his Lagos State counterpart, Mr Jide Sanwo-Olu have received the approval of the Federal Government to commence reconstruction of the ever-busy-road. Recounting the bureaucratic bottled neck experienced in their failed attempts under the previous administration of ex-president Muhammadu Buhari to take over the road, he disclosed that President Bola Ahmed Tinubu had graciously approved the transfer of the road to the state. Despite the transfer, he explains, the state still faces stiff opposition from some federal officials, forcing his government to formally award the contract in May, with or without the necessary transfer papers.

    He narrated his awful experience arising from undue obstinacy of the federal officials: “The Lagos-Sango- Abeokuta road is a federal government road and has been in a very bad shape for long. Because of the suffering our people pass through on the road, I and my counterpart in Lagos jointly wrote a letter, using a single letterhead to the Federal Executive Council (FEC), seeking for the transfer of that road for us to reconstruct.

     “After waiting for a month without a reply, we wrote a reminder. That road was not handed over to us until the present federal government came on board. The contract for the road has been awarded since May this year.”

    Governor Abiodun, therefore, described the sponsored attacks on his administration on social media by some faceless individuals as unwarranted, saying he would not be distracted by propaganda but remain focused on serving the people who entrusted their mandates to him.

    “My attention was drawn to various sponsored media attacks on my person and my administration. These media attacks are focusing on roads by attempting to disparage me and accuse me of either neglect or not being responsive or being uncaring.

    “The only reason I am here as Governor is to serve the good people of Ogun State and that I am irrevocably committed to it,” he stated.

    While seeking the cooperation and understanding of residents, the governor threatened legal action against those critics misrepresenting his administration. He promised not to be deterred by the antics of his detractors.

     *Ogbonnikan writes from Abeokuta, Ogun State capital

  • Stop this planned protest for posterity sake

    Stop this planned protest for posterity sake

    • By Allison Abanum

    Success is not determined by mere achievements, but by the adversities faced and the unwavering courage displayed in confronting overwhelming challenges. This holds especially true in a political landscape rife with propaganda and distorted narratives, characteristic of the region we find ourselves today. The true measure of success lies in how adeptly a government navigates tumultuous waters, emerging on the other side unscathed by the turbulent waves of opposition and the inevitable discontent among the populace.

    It doesn’t require extraordinary intelligence for anyone to discern that President Bola Tinubu’s administration is currently at a critical juncture in its journey despite being just over a year old. The voices of the opposition and critics are growing louder by the day, drawing more participants to the arena. Let’s be realistic, these are challenging times even for those in leadership positions. The reality is that they must succeed. Encouragingly, Mr. President and his team appear steadfast in their commitment to this principle. For them, failure and excuses are nonviable options; hence, they must procure the most effective strategies to navigate the turbulent waters and ride the waves, a task they are evidently endeavoring to accomplish based on all indications.

    The Economic team of this administration appears to be operating diligently as they endeavor to salvage and reposition our economy. The economic policies being implemented possess significant potential to shift the tides in our favor, albeit amidst some initial unpleasant realities we are presently confronting. It is a universal truth that no remarkable achievement by any nation is easily attained; the path to the pot of gold at the end of the rainbow is fraught with challenges. Therefore, what is required is patience and a steadfast trust in the process. Instead of engaging in baseless opposition, a more constructive approach to expressing disagreement with those guiding the course can be embraced for the collective benefit of our journey.

    In a recent declaration, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, articulated that the nation’s economy is projected to reach a $1 trillion valuation by the year 2030. Delivering his address during the mid-year review of the Bank’s operations in 2024 before the Senate Committee on Banking, Insurance, and Other Financial Institutions, it is evident that a meticulously crafted plan and strategy is being diligently implemented with a strong conviction of its successful realization by the proficient individuals involved. While this assertion may seem futuristic, it carries substantial positive implications that could potentially revolutionize our economic landscape in the years leading up to the new decade.

    The central bank is evidently taking a prominent role in the economic endeavors of the Tinubu-led administration, guided by seasoned experts. It has consistently reiterated its dedication to implementing policies that promote sustainable growth in the financial markets and overall economic stability. Since assuming office in October 2023, the leadership of the CBN appears to be focused on stabilizing the economy, instilling confidence in financial markets, and laying the groundwork for enduring growth. An in-depth analysis reveals the resilience of the Nigerian economy in the first half of 2024, exhibiting a growth rate of 2.98% in the initial quarter, an increase from 2.31% in the corresponding period last year. Various service sectors are displaying positive indicators and figures, with the services sector emerging as the primary economic driver, contributing 58.04% to GDP and experiencing a growth rate of 4.32%. Likewise, the industrial sector is displaying progress, achieving a growth rate of 2.19%.

    Read Also: Foreign mercenaries involved in planned protests, says IGP

    Further examination reveals that the enduring inflationary pressures, as evidenced by the rise in headline inflation from 29.90% in January to 34.19% in June 2024, have been somewhat mitigated by the gradual moderation in monthly increments. This trend underscores the efficacy of the Bank’s anti-inflationary strategies. Of particular significance in the indicators of economic growth is the marked surge in external reserves, primarily attributed to revenues derived from crude oil-related levies and third-party disbursements. The sentiment expressed by the Governor of the Central Bank aligns with this positive trajectory. The economic team is fully committed to leveraging the recapitalization initiatives within the banking sector as a pivotal instrument for stabilizing and repositioning the economy. Recognizing the pivotal role of a robust and dynamic money market, such endeavors are aimed at fortifying financial stability and advancing progress towards the envisioned $1 trillion economy by 2030. These concerted efforts are anticipated to yield tangible outcomes that could potentially transform the economic landscape of the nation well before the stipulated timeframe.

    Considering numerous other policy measures the central bank has enacted to address domestic macroeconomic challenges, such as elevating the policy rate to 26.25%, augmenting Cash Reserve Ratios, standardizing Open Market Operations, and embracing Inflation Targeting as a novel monetary policy framework, it is apparent that the experts are proficiently managing the situation. President Tinubu has consistently emphasized that there is no room for failure or excuses. This administration is evidently prioritizing public and private sector collaboration to propel a production-oriented economy with emerging industries proliferating across the nation. These are the advancements that critics and adversaries deliberately choose to ignore, as it contradicts the narrative of a failing venture that they vehemently propagate.

    As these production and manufacturing facilities continue to emerge, new employment opportunities are being generated for Nigerians, bearing positive implications for our economy. Illustrative instances of such establishments include the Dangote Sinotruk West Africa, a fully dismantled truck assembly plant launched in Lagos State, the Chinese Lithium processing plant inaugurated this year in Nassarawa State with investments exceeding $500 million, the ongoing construction of a new Dangote cement plant in Itori, Ogun State, the strategically positioned BUA Refinery under development in Ibeno, Akwa Ibom State, an innovative integrated sugar refinery, also built by the Dangote group in Tunga, Nasarawa State, The Lafarge bag manufacturing plant in Ewekoro, Ogun State, and the Obi Cubana Tricycle Assembly Plant spearheaded by the prominent Nigerian socialite and entrepreneur, Mr. Obi Cubana, among others. The establishment of these facilities reflects an administration that strongly advocates for local production enterprises, asserting that this approach is pivotal in revitalizing the economy and steering it towards a more promising trajectory.

    Obviously, our nation heavily relies on crude oil production and exports, making it imperative to ensure the impeccable state of all our oil facilities to fully capitalize on our abundant natural resources. To achieve this, we must strive to become a dominant force in petroleum and natural gas exports. The administration spearheaded by Tinubu seems to grasp this essential reality, evident in its intensified efforts to restore functionality to our refineries. Mele Kyari, the Group Executive Officer of the Nigerian National Petroleum Company Limited, has recently provided reassurances that, given the emerging trends in the energy and gas sector, Nigeria is poised to transition into a net exporter of petroleum by December.

    The indicators, as per Kyari’s statement, are the imminent commencement of production at the Port Harcourt Refinery early next month, to be succeeded by the Warri refinery in the subsequent months, and the Kaduna refinery by December of this year. With everything in place, it is anticipated that the country’s oil production will reach 2 million barrels per day in a matter of months. The significance of NNPC and the oil and gas sector in revitalizing our current economic state is indisputable. President Tinubu’s economic team comprehends the gravity of this matter and is diligently undertaking all feasible measures to ensure its realization.

    In reality, there has been a notable increase in our oil and gas production due to specific actions personally undertaken by the President. Moreover, the administration has actively engaged in combatting production-related challenges, such as oil theft, illegal production, and vandalism, leading to the desired outcomes. Whether through the implementation of robust policies to rejuvenate the oil sector or the relentless crackdown on illicit activities, the current government appears resolute in its commitment to national progress. The President’s unwavering resolve to make tough decisions for the greater good is evident. Notably, vandalism, a prevalent negative practice, remains a significant impediment to the apparent but gradual advancements in the oil and gas industry.

    The Port Harcourt Refining Company (PHRC) has been facing challenges due to sabotage and vandalism, which are significantly impeding production efforts. This issue is not unique to PHRC alone. The Nigerian National Petroleum Company (NNPC) Limited had previously announced the successful completion of mechanical rehabilitation on a section of the Port Harcourt refinery. A total of one million barrels of crude oil has been delivered to the plant by the Nigerian National Petroleum Company Ltd. It is expected that the refining of petroleum products at the facility will soon commence. Despite obstacles such as sabotage, the commitment to the project remains unwavering. The company has affirmed that the project is in its final stages. Therefore, with the recent statements made by the NNPC GCEO, Nigerians can anticipate the realization of positive outcomes in the near future.

    The stakes are undeniably high, as the administration continues to pursue its revitalized agenda. It is crucial for Nigerians to embrace this philosophy and have faith in its effectiveness. While tensions and unrest stemming from the prevalent hardships are understandable, it is important to remember that even the most prosperous nations faced challenges before achieving greatness. Nigerians must be vigilant against allowing economic struggles to be manipulated by those with hidden agendas, as this could lead to disruptions that jeopardize the progress made in enhancing the country’s security and stability.

    This is even more crucial now given the significant achievements in the overall security and safety of properties and individuals in the nation. It is imperative for us to glean insights from the experiences of other nations that have undergone a disruptive revolution, such as Sudan, where the aftermath was far from favorable. As a country with a vast population, while individuals have the right to voice their grievances, especially in the current circumstances, it is essential for us to act with introspection and devise the most prudent course of action. An uprising would be detrimental, as it could easily be exploited by adversaries of the state to advance their own agendas. These are indeed extraordinary times, yet the President and his administration appear to be effectively managing the situation. While it may seem repetitive to continually appeal for support and trust, that is precisely what is required from Nigerians at this time as we navigate through this phase with optimism and the promise of a brighter future ahead.

    Nigerians have every justification to feel discontent when circumstances deviate from the expected norm. However, amidst the anger and dissatisfaction, it is crucial to acknowledge the monumental efforts being undertaken to rescue our beloved nation from the brink of uncertainty. This predicament has largely been inherited by the current administration, and the downward spiral has persisted for the better part of two decades. It is inevitable that individuals will eventually express their frustrations regarding the sacrifices required for a promising future. Yet, prior to resorting to condemnation and protest, a meticulous analysis would reveal the relentless endeavors and positive outcomes that this administration is manifesting across various sectors of our national landscape. These advancements and triumphs, often overlooked, serve as crucial milestones towards the realization of our aspirations.

    Allison Abanum writes from Orogun, Delta State.

  • Akinyemi: Farewell to the matriarch we have lost!

    Akinyemi: Farewell to the matriarch we have lost!

    On Saturday, August 3, 2024, the funeral service for the late Mrs. Aderoju Janet Akinyemi will take place at the Cathedral Church of St. James the Great, Oke Bola, Ibadan, Oyo State. The ceremony will be followed by the committal of her mortal remains to Mother Earth. We invite friends, family and loved ones to join us as we bid farewell to an inspirational figure.

    Aderoju, wife of The Most Reverend Michael Olukayode Akinyemi, the Retired Archbishop of Kwara Province and Bishop of Igbomina Diocese (Anglican Communion), passed away in the United States of America on May 15, 2024. A Service of Songs was held in her honour on June 29, 2024, in Texas, USA, to celebrate her life and legacy. Her demise leaves a void that cannot be filled in the hearts of her loved ones and the community she touched.

    During her lifetime, Akinyemi was distinguished by her reserved nature, yet she was a woman of unflappable poise and infectious optimism. Not one to seek the spotlight, her gentle strength, quiet confidence and incredible positivity inspired respect and admiration. She will be deeply missed by all who knew and loved her.

    Yes, I knew her! I knew Akinyemi as an exceptionally talented and focused woman. Today, I recall my darkest hours; I remember stumbling upon a beacon of hope in a world that seemed determined to crush me. In 1991, I sought guidance from Venerable Akinyemi, then Archdeacon and Vicar of Saint Matthew’s Anglican Church, Ijebu-Jesa, Osun State. Mama Akinyemi welcomed me with open arms and a deep sense of mother’s devotion at the Vicarage. Her infectious warmth and invaluable mentorship drew me to her like a magnet, leaving an indelible mark on my life.

    Read Also: Prof. Olatunji Dare: In his farewell, we find him anew

    Alongside her husband, ‘Mama Archdeacon’, as she then was, exemplified the power of grace, humility, and determination, demonstrating that, with faith and perseverance, obstacles are not insurmountable. When life’s dark waters rose to swallow me and everyone around seemed to be saying ‘throw in the towel’, the Akinyemis stood firm, embracing my struggles as their own. With unrelenting optimism, they reminded me that the One who made me would never leave me helpless! I remain grateful for Archbishop Akinyemi’s pivotal role in my life. However, I also recognize the crucial support of his wife, Mama Akinyemi. She created an environment that allowed his guidance to flourish.

    Aderoju Akinyemi was born on October 16, 1954 in Tonkere, Osun State. Her parents, Pa James and Mrs. Elizabeth Adetunji, were from Ilé Olósun Àkèré Family House in Modákéké, Osun State. She attended Ansar-Ud-Deen Primary School, Gbongan, Ode-Omu Anglican Grammar School, and later earned teaching certifications from Local Authority Teacher Training College, Iyana-Ofa in Ibadan, Oyo State College of Education, Ilesa, and University of Ibadan. A dedicated teacher, she served as Assistant Head Teacher until retirement.

    Akinyemi was a woman of calm temperament, commitment and authenticity. She embodied the ultimate woman, excelling as a wife and mother. A devout prayer warrior, her love and leadership were a gentle breeze, soothing souls and providing a safe haven for hopes and dreams. A radiant presence, she illuminated paths and warmed hearts, leaving a lasting impact on those who encountered her. The Reverend ‘Toyin Adesokan of the Anglican Diocese of Lagos West fondly recalls Mama Akinyemi’s surprise visit during his theological training at the Immanuel College of Theology and Christian Education in Ibadan, a testament to her compassionate and encouraging nature.

    As we bid farewell to this remarkable matriarch, we take comfort in the indelible mark she left on our lives.

    May her journey be peaceful and her wisdom and strength forever remembered!

    May the Lamb of God, who takes away the sin of the world, rest the soul of Mrs. Aderoju Janet Akinyemi and grant her loved ones strength in hope!

  • Endorsements and the power-brokers (1)

    Endorsements and the power-brokers (1)

    The trend of endorsing governors for a second term has gained significant momentum.

    This trend is particularly noteworthy in the context of Nigeria’s political landscape, where endorsements can make or break a candidate’s chances of winning. In various states, governors have received endorsements from diverse groups and individuals. For instance, Governor Peter Mba of Enugu State secured the backing of the Northern Community in Enugu, while Governor Ademola Adeleke of Osun State has earned the endorsement of the Owa Obokun of Ijesaland, Oba Adekunle Aromolaran, barely a year into the his tenure.

    On October 22, 2023, former Governors Adeniyi Adebayo, Ayo Fayose and Kayode Fayemi of Ekiti State unanimously endorsed the incumbent Governor Biodun Abayomi Oyebanji for a second term. On July 12, 2024, all the 38 local government and local council development areas in the state not only hailed the governor ‘for performance’ but also ‘collectively endorsed’ him ‘for a second term’.

    The politics of endorsements dates back to ancient times, where leaders sought validation from influential figures, evolving through the Gilded Age’s political machines and party bosses exchanging endorsements for loyalty and favours, becoming formalized in the 20th century as parties and interest groups recognized their influence on public opinion and voter behaviour, and continuing in contemporary Nigeria where endorsements significantly shape political outcomes, as seen in the recent trend of endorsing governors for a second term.

    In the 1960s, celebrities like Frank Sinatra and Sammy Davis Jr. endorsed Democratic candidates. The internet and social media’s rise in the 1990s – 2000s expanded endorsements’ reach, building grassroots support. Today, endorsements come from diverse individuals and groups, including celebrities, business leaders, labour unions, advocacy groups, and community leaders, reflecting the changing political and media landscape. This trend is also seen in Nigeria, where endorsements from various stakeholders are now crucial in political campaigns, showcasing their global significance.

    Read Also: Firm queries House of Reps’ power to probe cases pending in court

    Endorsements vary in impact, from influential to insignificant. A cross-party endorsement, such as the support of 90% of former state leaders, stands out as particularly noteworthy. This underscores the importance of endorsements, as seen in the US, where President Joe Biden’s potential bid for re-election was impacted when the Democratic Party establishment withdrew its endorsement, paving the way for Vice President Kamala Harris. That’s a clear example of how endorsements can shape political outcomes.

    A seal of credibility, endorsements offer opportunities for candidates to reach wider audiences and build credibility with key constituencies, provided they are not driven by personal gain or hidden agendas. They can also represent a symbolic transfer of trust, credibility, and authority from one leader to another. Endorsements help build coalitions, mobilize voters, and create momentum around a candidate or cause. Most importantly, they serve as valuable political currency, shaping legacies and cementing alliances. By endorsing a candidate, a respected figure effectively vouches for his or her character, policies, and leadership abilities, reinforcing his or her credibility and strengthening his or her campaign.

    Prominent thinkers have emphasized endorsements’ significance in leadership and political discourse. Plato argued for informed approval from the wisest citizens, while John Stuart Mill advocated for freedom to endorse or criticize leaders without retribution. Building on this idea, Aristotle noted that respected citizens’ endorsements boost a leader’s credibility. In a similar vein, Oyebanji’s cross-party endorsements demonstrate a democratic consensus on Ekiti State’s development agenda, showcasing his commitment to the state’s interests above partisan politics. This cooperation, particularly notable in Nigeria’s polarized landscape, testifies to the governor’s effective leadership, which prioritizes the greater good and maintains a peaceful atmosphere.

    While we congratulate Oyebanji on his achievement, we urge him to maintain momentum and build on his success. Like a cyclist gaining speed, he should pedal harder to secure a pan-Ekiti mandate, ensuring a strong showing at the 2026 polls.

    • To be concluded.
  • Finance Act: Windfall tax explainer

    Finance Act: Windfall tax explainer

    • Arabinrin Aderonke

    Why is the Nigerian government introducing a windfall tax, and what does it mean for the economy?  As part of economic reforms, President Bola Ahmed Tinubu’s administration has proposed a one-time windfall levy aimed at addressing the substantial gains made by Nigerian banks due to changes in exchange rates.

    The Windfall Tax, recently introduced under Nigeria’s Finance Act, promises many benefits for the nation. By redistributing these unexpected gains, the tax will channel funds into important public services, including infrastructure development, healthcare, and education.

    This redistribution is expected to improve public amenities, support the quality of education and healthcare, and address economic disparities. Moreover, the funds are likely to stimulate job creation and promote economic growth.

    The Federal Government proposal to amend the Finance Act through the windfall tax on the foreign exchange extraordinary gains realised by banks. This measure shows a commitment to ensuring that the financial benefits derived from recent economic reforms are shared with the public. This proposal is framed in such a way as to drive national development while avoiding additional tax burdens on ordinary citizens.

    The concept of windfall taxes is not unique to Nigeria. Globally, windfall taxes have been implemented in many ways with different outcomes. The Czech Republic has levied a 60% tax on energy firms and banks, raising $3.4 billion to help those affected by energy price hikes. Hungary has used its tax to promote government bond purchases and introduced a new social tax. Lithuania allocates its windfall revenue to military funding, while Sweden uses it to strengthen public finances. In the United Kingdom, Parliament is considering a windfall tax on banks to address economic inequality and support public services. All these international contexts indicate that windfall taxes are a standard method for managing and redistributing unexpected profits.

    Read Also: Lagos IGR to rise as strategic agenda on taxation takes off

    In discussions at the National Assembly recently, both Mr. Wale Edun, the Minister of Finance, and Dr. Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), provided information on the rationale behind this tax. Mr. Edun highlighted that imposing such levies is a common practice worldwide and is designed to ensure that the benefits resulting from government policies are shared with the public.

    Dr. Adedeji, in his own comments, emphasized that the windfall tax would help mitigate economic inequalities, particularly in light of

     recent harmonisation policies in the foreign exchange market. The Federal Inland Revenue Service (FIRS) has worked hand-in-hand with the Central Bank of Nigeria to ensure the levy supports rather than disrupts the banking sector.

    Moving forward, banks must work closely with the federal government on the windfall tax. This partnership ensures the efficient allocation of funds to enhance public services, promote economic stability, and maximise benefits for all Nigerians. Together, they pave the way for a prosperous nation.

    • Arabinrin Aderonke is an Award-Winning investigative journalist, 2016 finalist, CNN African Journalism Award. She currently serves as the Technical Assistant, Broadcast Media at the Federal Inland Revenue Service
  • When greed is the enemy

    When greed is the enemy

    By Zayd Ibn Isah

    Recently, a market seller at Mandate Market in Ilorin, Kwara State, incurred the wrath of her colleagues for selling her garri below the market price. In a now-viral video posted on social media, the traders were heard shouting, “We will never let you sell your garri cheaper than ours. We will not allow it.”

    Apparently, the market seller (who was even seen as an outsider) had decided to sell her garri at ₦800 per bowl, while others were selling at either ₦900 or ₦1,000 within the market. This was what led to the commotion that erupted and was recorded in a video for social media.

    Expectedly, the video has generated reactions from many Nigerians, and people are beginning to see that the problem with Nigeria is not just a lack of quality leadership but also a decline in the conscientious mind-set of the followers. Nobody can successfully govern a country where citizens prioritize their own interests over the country’s well-being. Imagine a captain trying to steer his ship through stormy seas, while the passengers on board keep sabotaging his efforts by making holes in the body of the ship to let water in. Such is the scenario which can be applied to the situation Nigeria currently finds herself in as a nation.

    Read Also: Bauchi police apprehend man for impersonating Nigerian Army personnel

    Of course, we can lament that government policies have made things difficult for ordinary citizens. We can even blame the leaders for their failure to deliver the promised dividends of democracy. And we are even at liberty to peacefully protest as a way of registering our discontent. But one thing we fail to do as citizens is acknowledge the fact that in many little ways, we also contribute to our problems as a nation.

    At the core of our issues is a lack of patriotism. I recall how the prices of diesel and other commodities skyrocketed immediately after the president announced on his inauguration day that fuel subsidy was over. Fuel was previously bought at subsidized rates, so why the sudden price hike? And then came the floating of the naira, which led to a rise in the dollar and an increase in prices of goods. Even when the naira appreciates, the prices of goods rarely come down. In this country, once prices of commodities go up, they rarely come down. That’s why we must salute the honest trader’s patriotism and encourage others to follow her example. Mark Twain said, “In the beginning of a change, the patriot is a scarce man, and brave, and hated and scorned. When his cause succeeds, the timid join him, for then it costs nothing to be a patriot.”

    That being said, the price regulators need to up their game to ensure that traders who hike prices of goods unnecessarily in the name of rising dollars are held accountable. After all, the core function of price control is to protect consumers, regulate competition and ensure fairness of business practices within the free market. And in times like this where many Nigerians are struggling to afford basic meals daily, effective price control might be the bulwark needed to ensure that the prices of essential commodities do not skyrocket beyond reason.

    If the government really intends to curb inflation, it must ensure access to basic necessities such as staple foods, while protecting the Nigerian consumer from the unfair financial chokehold often brought about by market volatilities and price hiking. Ever since price control was first introduced in the 1970s by the military administration of then Gen. Olusegun Obasanjo, the Nigerian economy has grown to giant capitalist heights while price regulation remains stunted. Few Nigerians are even aware of the Price Control Act, as well as the Federal Competition and Consumer Protection Act.

    Earlier this year, the Federal High Court in Lagos passed a judgement ordering the government to fix prices of certain goods such as milk, flour, salt, sugar, motor vehicles and petroleum products. This triggered speculations that the government policy of price control would find resurgence soon. In fact, many Nigerians were caught unawares by this decision, and understandably so. This regulatory facet of the law has largely remained unknown and vague to many Nigerians. This is exactly why now more than ever, the FCCPC must be central to any economic intervention needed to curb the effects of inflation, while performing its regulatory function to the fullest in service of the common interest of Nigerians.

    However, price control should not be seen as a magic wand solution for problems brought about by decades of sustained capitalism. Sure, Nigerians are so clearly frustrated that they would gratefully welcome the intervention of price control. I, for one, would love to see the prices of eggs, bread and petrol fall, even if just for a small period. There are a few unneeded negative effects of hasty price regulation which we must consider, and one of such is the possibility that price control could lead to shortages of goods, as producers would not want to sell at reduced prices. And when you also consider that it would be extremely difficult for the government to enforce such a regulatory policy at a nationwide scale, a resort to price control becomes less inviting.

    Nigeria’s galloping food inflation has worsened, but now that the president has approved the increase of the national minimum wage to ₦70,000, the common worker out there with mouths to feed at home can exhale a bit in relief. Bringing back food stamp programs might even bring much-needed relief from the food insecurity plaguing less-privileged Nigerians. Basic households should also be encouraged to grow their own food crops, because we face an economic emergency, whether we care to admit it or not.

    While the government does its part to alleviate the suffering of the masses, we, as a people, must address the greedy tendencies rooted in the hearts of the unpatriotic ones amongst us. It is sad that whenever misfortune befalls the collective, the average Nigerian seeks to profit from this, rather than seek out ways to help his fellow citizens.

    •Isah can be contacted at lawcadet1@gmail.com