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  • Tinubu Presidency @ 1: As VP Shettima consolidates the gains of Renewed Hope Agenda

    Tinubu Presidency @ 1: As VP Shettima consolidates the gains of Renewed Hope Agenda

    By Stanley Nkwocha

    Last year, President Bola Ahmed Tinubu, GCFR, was sworn into office on May 29, with a vow to move quickly to deliver results that would change the governance narrative in Nigeria. One year after, that is exactly what he has done through the administration’s 8-point Renewed Hope Agenda, adhering fervently to his campaign promises and matching words with actions.

    Although one year in office is still relatively infinitesimal to judge a government that inherited a densely battered and collapsing system over the years, it is enough time to assess the foundations and focus of the administration, albeit quick wins. Commonsense in architecture suggest that the height of any skyscraper depends on the integrity of its foundation.

    The Renewed Hope experience of the last one year portrays President Tinubu as an architect who inherited a dilapidated building erected over the years.  In this scenario, it is not architecturally wise to build on an already dilapidated structure. The rational thing for any sound architect to do is to dismantle the dilapidated structure and lay a proper foundation whose integrity is guaranteed.

    Governments, the world over, face similar tasks in their first year in office irrespective of differences in climes. First, they must form cabinets, select ministers and other individuals to fill top positions in the executive branch. Second, they must articulate and initiate domestic policy agendas in line with what they told the people they want to accomplish, and they must take first steps toward achieving their goals.

    Third, they must establish their leadership of the foreign-policy apparatus. Since 1960 when it gained independence, Nigeria has played a major role in the affairs of Africa and the world at large. In this regard, the international community scrutinizes new administrations in the most populous nation in Africa to assess how their policies and progammes will be carried out. No less do the Nigerian people examine the foreign-policy drive and aspirations of new presidents.

    Read Also: Environmental crisis: Tinubu rallies support for small Island nations

    In the process, it is not uncommon for the nation’s vice presidents to struggle to prove their mettle in a role largely defined by behind-the-scenes work. Contrary to insinuations in certain quarters that he may have been sidelined, even the fiercest critics and detractors alike will acknowledge that Vice President Kashim Shettima has hit the mark in playing the required supporting role. And I make bold to buttress my assertion.

    In areas where his predecessors have laboured hard to make themselves relevant, VP Shettima has taken the lead on several critical contentious matters, while President Tinubu focuses his efforts on other more pressing issues of governance. As an Agricultural Economist, Shettima’s understanding of the foundation of 21st century global economy has helped in the economic recovery of Nigeria and provided hope that the recovery will be all-inclusive.

    In the first year in office, President Tinubu and VP Shettima have worked to solidify the Nigerian State, confronting a range of daunting issues, including the economy, security and welfare of the citizens. The 8-point agenda of the Tinubu administration provides a clear framework for its policies and programmes, with areas of concentration such as driving job creation, economic growth, food security, poverty eradication, access to capital, rule of law, anti-corruption efforts and inclusive development.

    No doubt, President Tinubu was fully aware of Kashim Shettima’s leadership abilities when he selected him as his running mate and had no doubt that he would not fail him as a bona fide member of the president’s northern political dynasty. As expected, the vice president, trusted by Mr President, has within the last one year helped to execute the ongoing bold reforms being undertaken by the Renewed Hope administration, complementing his boss and, most times, overseeing engagements and presiding over meetings where critical decisions are taken to salvage the rusty economy they inherited.

    They have often drawn on their leadership experience and political resumes to pioneer a new leadership blueprint. What many keen observers have unanimously agreed about the vice president is the commitment, devotion and diligence with which he has handled his responsibilities.

    Together, the president and his deputy have navigated the ship of the Nigerian State away from the challenges they inherited. Here are just some of the milestones and foundations they have laid so far:

    International Diplomacy And Foreign Investments

    On assumption of office, President Tinubu and VP Shettima embarked on high-powered international engagements where crucial decisions concerning Nigeria and the African continent were made, with the president, most of the time, demonstrating confidence in Shettima’s capacity to represent the country well at such crucial global and local meetings. In so doing, they have deployed their marketing skills to restore investors’ confidence in the country’s business climate at every international fora.

    In November last year, Vice President Shettima joined about 130 world leaders at the 3rd Belt and Road Initiative (BRI) Forum in China where he drew foreign investors’ attention to the ease of doing business in Nigeria, revealing to them that today’s Nigeria is a safe investment destination.

    From China, Shettima traveled to the United States for the African Development Bank (AfDB) World Food Prize-facilitated Norman Borlaug International Dialogue at Iowa State where he wooed investors and sought commitments from them towards achieving President Tinubu’s mandate and programmes for Nigeria’s agro-food sector, as well as the ongoing bid to ensure food security and diversification of the nation’s economy. One of the takeaways from that foreign engagement is the tripling of the Africa Development Bank’s (AfDB) agricultural interventions in Nigeria from $500 million to over $1 billion.

    About two months after assuming office, Vice President Shettima represented President Tinubu at two major international summits in Rome, Italy and St. Petersburg where he joined other global leaders for the first Stocktaking Moment (STM) Summit. He also chaired a high-level session with the theme ‘Innovative Financing for Food System Transformation: the Case of Nigeria’.

    At the instance of the president at the 2nd Russia-Africa Summit, he joined other political and business leaders at the Russia-Africa Economic and Humanitarian Forum which was focused on strategizing to enhance relations between Russia and the African continent, among other benefits. VP Shettima participated in bilateral meetings with representatives of relevant Russian senior government officials and business leaders to discuss relations between Russia and Nigeria.

    Recently, Senator Shettima was in Nairobi, Kenya, where he represented President Tinubu at the International Development Association (IDA21) Heads of State Summit. Some of the successes recorded in these foreign engagements include the decision by an American company, John Deere, to invest in Nigeria’s agricultural sector, first by setting up a tractor assembly plant in Nigeria, and China’s renewed commitment to the completion of the long-awaited Lagos – Ibadan, Abuja-Kano and Port-Harcourt-Maiduguri railway projects as well as the Lagos-Ibadan railway.

    There is also the signed Memoranda of Understanding (MoUs) valued at $2 billion, alongside the $4 billion worth of letters of intent, which reflects the substantial inflow of foreign direct investment into key sectors such as technology, automotive and infrastructure. These agreements include partnerships with the National Agency for Science and Engineering Infrastructure (NASENI) and various Chinese corporations, as well as the commitments in power generation and digital economy targeted at addressing Nigeria’s energy challenges and advancing technological innovations, crucial for sustaining long-term growth.

    The country now boasts of vast opportunities for economic growth by enhancing power generation, security, oil and gas production, transportation, fisheries, tourism and several other international trade and investment. This underscores the growing confidence of international partners in Nigeria’s economic potential.

    NEC Interventions

    Back home, Senator Shettima has not disappointed. As chairman of the National Economic Council (NEC), many federal government programmes and projects have been initiated under the office of the vice president. For instance, NEC endorsed implementation of the $617.7 million Investment in Digital and Creative Enterprises (i-DICE) programme across Nigeria’s 36 states and the FCT to create jobs in the creative and technology sector by training over 1.2 million youths in ICT skills and generating over 5.6 million indirect jobs nationwide.

    To address food security and economic challenges in the country, NEC embarked on the process of making fertilizer available to farmers, establishing Agro-Rangers to tackle insecurity on farms and insisting on modern agricultural practices. It spearheaded the establishment of federal government’s Specialized Agro-Processing Zones (SAPZ) to revamp Nigeria’s agricultural sector and reducing dependence on food imports.

    The Council also developed a roadmap for flood intervention and relief aid coordinated with the Nigeria Governors’ Forum. 

    Pulaku Initiative

    The office of the vice president has rigorously driven and supervised the Pulaku initiative, a non-kinetic enterprise set up by the Tinubu administration to address the root causes of farmers-herders clashes, insurgency, banditry, and poverty in the northern region.

    Under this initiative, over 1,000 houses, hospitals and shops are being built in each of the North Western states to compensate for the damage done by bandits and other terror groups.

    Lighting Up Nigeria

    In February this year, Vice President Shettima launched the Light Up South East Initiative to accelerate power supply to industrial clusters in the South-East region. The programme is a collaboration between the Niger Delta Power Holding Company Limited (NDPHC) and its partners. On the same day, the vice president commissioned the 181-megawatt Geometric Power plant in Osisioma Industrial Layout, Aba, Abia State.

    Shettima had earlier flagged off the initiative in the South West at the Agbara Industrial Cluster in Ogun State on October 12, 2023, with stakeholders committing to successful implementation nationwide.

    Bridging Education Divide

    In May this year, the vice president was in Bauchi State where he launched a multi-year Accelerated Senior Secondary Education Programme (ASSEP). With the programme, the administration is set to overhaul school infrastructure, modernising curricula and integrating virtual learning technologies. The initiative is a major policy drive to bridge the gaping educational divide in the country, with the North-East region as the starting point.

    Ending Internal Displacement

    Last Monday, Vice President Shettima launched the State Action Plans on Durable Solution to Internal Displacement at the Presidential Villa, Abuja, with a call for a global partnership to address the problem of internal displacement in Nigeria. The action plan is a United Nations Secretary General’s solution agenda on Internal Displacement which aims to help internally displaced persons find a durable solution to their displacement, prevent new displacement crises from emerging and ensure those facing displacement receive effective protection and assistance. Unveiling the programme being implemented in four northern states of Adamawa, Benue, Borno and Yobe, the VP said the federal government is seriously committed to ensuring the safety and well-being of displaced citizens.

    Resuscitating Small Businesses

    As part of measures to support small businesses by providing an enabling environment for them to thrive, President Tinubu commenced the process of formalising one million businesses across Niger.

    To this effect, Vice President Shettima, in January this year, launched the Expanded National MSME Clinic in Makurdi, Benue State, marking the first stop on a nationwide journey to empower small and medium-sized businesses. MSME Clinic, the first of its kind, aims to empower micro, small and medium enterprises (MSMEs) by breaking down barriers and providing crucial resources under the Tinubu administration. The MSMEs Clinics and related activities hold the promise of easing the way for small businesses to transform their empires. This will culminate in the National MSME Awards, a celebration of entrepreneurial spirit coinciding with World MSME Day on 27 June in Abuja.

    With Benue’s pioneership of the MSME Clinic, the stage was set for a nationwide rollout scheduled to traverse Ebonyi, Ogun, Delta, Kaduna, Borno, Katsina States and the FCT in a meticulously planned itinerary for the first half of 2024. In March, Senator Shettima launched the second edition of the Expanded National MSME Clinics in Ogun State where 200 newly refurbished stores for use were handed over to 400 entrepreneurs at the popular Asero Adire market in Abeokuta.

    Tackling Poverty Through Financial Inclusion

    As part of efforts by the Tinubu administration to wriggle Nigerians out of poverty, Vice President Shettima, on April 25 this year, midwifed the unveiling of federal government’s Aso Accord on Economic and Financial Inclusion, a multi-pronged blueprint designed to achieve universal access to financial services across Nigeria.

    The Aso Accord provides a robust framework to democratize access to finance, empower entrepreneurs and catalyse sustainable economic growth from the bottom up. Financial inclusion is a moral calling to unlock opportunities for every Nigerian to achieve their potential. It represents a core pillar of President Bola Ahmed Tinubu administration’s Renewed Hope Agenda to transform the nation into a $1 trillion economy by 2030, while combating poverty and insecurity through broad-based prosperity.

    Leveraging comprehensive policy reforms and strategic investments, the Aso Accord charts a roadmap to bridge the significant gaps that have left millions of Nigerians, particularly underserved segments like women, youth, rural communities, and small businesses, without vital financial services like credit, insurance, pensions, and savings facilities.

    Building A Nourished Nation With Improved Nutrition

    In line with the Tinubu administration’s inspiration to implement quality, cost-effective nutrition services, Vice President Shettima recently unveiled an ambitious plan to improve nutrition across Nigeria, with a rallying call to faith and traditional leaders to champion the effort in their communities.

    At a high-level dialogue on nutrition at the Presidential Villa, Shettima stressed that Nigeria’s future readiness hinges not just on food abundance but on the nourishing quality of its food supply. The one-day dialogue with the theme, “Faith Leaders as Catalysts for Enhanced Human Capital Through Nutrition,” was organized by the National Council on Nutrition and the World Bank-assisted Accelerating Nutrition Results in Nigeria [ANRiN] Project.

    The efforts and interventions of the NEC chaired by the vice president and the engagement with faith-based leaders, among other initiatives, are targeted at deploying institutional mechanisms to combat hunger and malnutrition with its associated challenges.

    Agricultural Revolution

    Apparently wary about the damage caused by years of neglect in this crucial sector, President Tinubu, on assumption of office last year, embarked on rigorous reforms to revamp the agriculture sector. The first appeal he made was for Nigerians to return to land, for therein lies true prosperity.

    President Tinubu set the ball rolling by declaring a state of emergency on food security. As part of efforts by the renewed hope administration to tackle food inflation following the removal of fuel subsidy, the president also approved that all matters pertaining to food and water availability as well as affordability, as essential livelihood items, be included within the purview of the National Security Council.

    To revitalize the agricultural sector to bolster the nation’s gross domestic product and foster economic development, the president outlined some initiatives, including the expansion of farmlands up to 500,000 hectares, provision of low-interest loans to farmers and investments in irrigation infrastructure. This was followed by immediate release of fertilizers and grains to farmers and households to mitigate the effects of the subsidy removal.

    In March this year, Nigerians came face to face with the benefits of Tinubu’s huge investments in agriculture when the president flagged off the Food Security and Agricultural Mechanization Programme in Minna, the Niger State capital. The project, an initiative of the Niger State government, is targeted at deploying cutting-edge agricultural machinery and technology for large-scale agro-value chain development in the state.

    Under the Tinubu-led government, Nigeria is beginning to witness another level of working relationship between the president and his vice. For instance, while President Tinubu is spurring the subnational governments to key into the agricultural revolution of the federal government, VP Shettima is confirming that the renewed hope administration is leading by example. This year, the vice president flagged off his own personal empowerment scheme to assist farmers in the country to achieve the food security and agriculture mechanization drive of the Tinubu administration.  The scheme, Kashim Shettima Foundation’s Agricultural Empowerment Programme, launched in Kaduna State, signaled the commencement of distribution of tractors, seeds, fertilizers, herbicides, and other essential farming inputs to beneficiary farmers for the 2024 farming season.

    In addition, the scheme also provides financial empowerment to the tune of N100,000 per month to each of the 50 beneficiaries for 4 months, covering the planting period. Farmer cooperatives, comprising 50 farmers, will also be given startup funds of up to N30 million to establish full-fledged commercial farms.

    The hallmark of Shettima’s stewardship as number two man is selfless national service, integrity, loyalty and unflinching dedication to the Tinubu administration. He has continuously shown dedication to upholding the vision of his boss, and his leadership qualities have endeared him to many Nigerians who see him as a full complement to the president. Indeed if his attention to details were to be enumerated here, perhaps drums of ink will run dry.

    The connection and the mutual trust they share are indeed inspiring, as both men have shown reliability, selfless service and honesty in leadership in the past one year. And like the vice president, everyone working with him has that same mindset and unity of purpose, working in tandem with the president to make Nigeria better. With the milestones set in the last one year by the Tinubu administration, there is no doubt that Nigeria is on the cusp of joining the league of developed countries.

    –  Nkwocha is Senior Special Assistant to the President on Media & Communications (Office of the Vice President).

  • President’s oil and gas initiatives

    President’s oil and gas initiatives

    • By Chukwudi Emmanuel

    It has been a year since Bola Ahmed Tinubu was inaugurated as president of the Federal Republic of Nigeria. It also marks one year since the president caused a ripple on the socio-economic life of Nigerians when in his inaugural speech, struck at the heart of the mainstay of the nation’s economy: oil and gas.

    As at May 2023 when President Tinubu assumed office, the nation’s economy was struggling due to a variety of factors which included inherited huge local and foreign debts, loss of value of the nation’s currency, lack of basic infrastructure etc. which the nation’s main resource could not provide succour.

    Despite that the previous administration was doing all it could to be in the good books of the average Nigerian by paying subsidy on refined petroleum products which were sourced mainly through importation, the Muhammadu Buhari administration knew that it could not sustain the subsidy regime but could not take the step required to check its abuse, so it kept pushing the deadline for the abrogation of subsidy.

    Worse, the nation’s four refineries were not working while the only private sector concern that indicated interest in helping out, the Dangote Group, was not conclusive about when its intervention to deliver a refinery would materialize.

    The gas sector was also not faring better as output from the Nigeria LNG dipped below 50 percent of capacity while compressed natural gas was almost non-existent.

    The removal of subsidy led to a chain of events that almost crippled the economy and the social life when it eroded people’s purchasing power, leading to high cost of transportation, food, and other essentials.

    This led to wide condemnation that has failed to wane as even former Olusegun Obasanjo only last week had to add his voice saying President Bola Tinubu’s implementation of the removal of subsidy from petroleum products though good was wrongly implemented.

    But to be fair, there have been a number of activities initiated in the sector that promise to yield positive results in the not too distant future. The first has been the attempt to bring the four refineries in the country back to life, which is ongoing.

    With the work going on at the Port Harcourt two refineries, which were shut down in March 2019, the plants are expected to commence a daily production of 210,000-barrels by July.

    This is as the government is said to have secured the services of the technical adviser of Italy’s Maire Tecnimont to handle the reviews of the refinery complex, with oil major, Eni appointed technical adviser.

    With the promise to start production, marketers are expecting to commence loading of products for sale across the country from next month.

    The Kaduna Refining and Petrochemicals Company (KRPC), on the other hand, is also expected to become operational by the end of 2024 with the production of 110,000-barrel-per-day which represents 60 percent its installed capacity.

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    With the level of work has at the plant, there are positive signs that refining would begin on the target date.

    Added to these, extensive work is also being done on the Warri Refinery to commence operation almost at the same time with others.

    Another effort of the Tinubu administration is encouraging private sector participation. Barring any last-minute change in plan, the $20bn Dangote Oil Refinery which has since commenced production, is expected to be listed on the Nigerian Stock Exchange by December 2024.

    The refinery is targeting a production capacity of 500,000 barrels by July and ultimately 650,000 barrels per day.

    With an average monthly consumption of one billion litres, Nigeria currently spends approximately N520bn on the importation of Premium Motor Spirit (PMS) every month, meaning that the government will cut approximately N6.2tn spent yearly to import products.

    In the gas sector, President Tinubu is set to commission the NASENI-Portland Compressed Natural Gas (CNG) Reverse Engineering Centre, at Utako for CNG which is expected to boost economic activities as the product serves as an alternative to PMS.

    These coordinated efforts would reduce the quantity of imported products through the meeting of local demands and the scarce foreign exchange for other economic uses. On the whole, while the Tinubu administration may have made some avoidable missteps in its drive towards boosting the oil and gas sector, it has shown considerable efforts in reviving the same, which might soon begin materialise.

    •Chukwudi, a public sector analyst, writes from Awka, Anambra State.

  • One year after: the Legacy Man and his strides

    One year after: the Legacy Man and his strides

    By Bayo Onanuga

    One year after being in the saddle, President Bola Ahmed Tinubu will be the first person to admit that the ride has been bumpy. He is also the first to say he is unfazed by the turbulence as he remains focused on the marathon of the next three years. The past year has been months of baby steps, months of laying the foundations for the next three years of canter.

    As Nigeria’s 16th President, Tinubu, during his campaign for the office, said he would make difficult decisions and that running the country would not be business as usual.

    From day one, he sought to fulfill his promises, beginning from his earthshaking ‘subsidy is gone’ announcement at the Eagle Square, on the day he was sworn in. The announcement reverberated around the country and beyond. He was not just actualising a promise he made. He was also   affecting the consensus of all the major candidates in the 2023 election that the several decades old, wasteful subsidy must end.

    His administration followed this up with the decision to harmonise the foreign exchange rates. The multiple exchange rates executed under his predecessor had given room to various abuses, among which was arbitrage, where people close to the power loop made humongous money, getting forex at the official rate and offloading it at the so-called parallel market for almost 100 percent profit. Both the International Monetary Fund and the World Bank advised the Nigerian government to end the policy, to no avail, as forex obligations piled up, FDI’s dried up, and investors shunned Nigeria. Tinubu knew that to reset the economy and build renewed confidence locally and internationally, there must be a policy change. He took the measure, just as he promised during the campaign, with the government announcing that it wanted to harmonise the rates in ‘weeks’. The financial world took notice that Nigeria is at the cusp of great change.

    Read Also: First anniversary: Buhari calls for national support for Tinubu’s govt

    Although it has taken months to achieve the harmony, with the Naira in the interregnum, taking a massive bashing from the dollar. The heavily hurt currency at a stage fell to about N1,900 to the dollar, with the naysayers and the opposition predicting a total destruction of the currency. Their wish did not come to pass, as the currency rebounded to earn global acclaim as the world’s best performing currency. After weeks of amassing muscle against the US dollar, the Nigerian currency weakened again. Now, the monetary authorities are working hard to ensure the currency did not fall into the abyss like it did in February, before the rebound.

    Together with the  abrogation  of the subsidy regime, the forex harmonisation policy triggered an inflationary rage, with food inflation hitting unprecedented levels. Cost of living rose countrywide. Some analysts, however, blamed the inflation on other factors such as insecurity that prevented farmers from going to farm and the poor state of  roads, that escalated transportation costs, pushing up the costs of virtually everything.

    The administration responded on many fronts with a raft of ameliorative policies. Last December, it offered subsidised bus transport and free train service to Nigerians going home for Christmas and New Year. The subsidy was also offered for the return journeys. Over 200,000 Nigerians benefited from the bus service.

    In agriculture, the government declared a food emergency, launched a massive dry season farming in important crops such as wheat and maize, along with assisting farmers with N100 billion worth of fertilisers. The government released 43,000 metric tonnes of grains  in the reserves and bought another 60,000 metric tonnes of rice from local millers for distribution to the people. States, rich individuals, National Assembly members  joined in distributing food and cash to the vulnerable millions in the country. For months, food inflation resisted all the measures, hitting 33 percent in April. Government also rejected the panicky measure of importing food, reposing confidence in the Nigerian farmers,  that from their yields, Nigeria will overcome its food crisis. In recent weeks, the news from the markets has been that some food prices are going down.

    As part of the ameliorative measures, the Tinubu administration  announced wage awards of N35,000 to Federal workers to enable them cope with food inflation and transport costs, as it works out a new national minimum wage. It  announced in July last year the Presidential CNG Initiative. Under the programme, that will herald a new industry and new jobs, hundreds of buses and tricycles, which will be powered by Compressed Natural Gas(CNG), will be locally assembled for countrywide rollout. Some of the vehicles will be electric for use in some Nigerian states, where CNG is not readily available. A panel to drive the vision was inaugurated in October 2023. However, bureaucratic delays slowed its procurement work.  A large number of the buses and tricycles will be available  as part of the ceremonies to mark the first anniversary of the Tinubu administration.

    Businesses were not left out of government’s mitigation measures. The Bank of Industry, in conjunction with Federal Ministry of Industry,Trade and Investment, is implementing Presidential Conditional Grant Programme for nano businesses. Disbursement of N50,000 each to the applicants that registered began in April. Beneficiaries included retail marketers, corner shop owners, petty traders, market men and women, food and vegetable vendors, vulcanisers and and shoemakers. Over 1,000,000 nano businesses are targeted. To help big businesses, Government announced an aid package of N1billion each to 75 of them.

    The Tinubu government also approved $617 million for up-skilling Nigerian youths, providing startup funding, catalytic infrastructure, and policy advocacy. Youths with digital skills are now registering to benefit from the fund, being administered by the Bank of Industry.

    In a country with 200 million people and tax to GDP ratio less than 10 percent, President Tinubu knew from day one, that it will be difficult to make any great, historic impact, if he fails to tinker with the tax structure and bring more money into the national purse. He announced his plan by setting up the Oyedele Committee on Tax and Fiscal Policy Reform, which is winding up its work and has recommended far-reaching reforms in the tax regime. President Tinubu also changed the leadership of the Federal Inland Revenue Service(FIRS) to plug revenue holes and introduce creative ways to increase revenue without necessarily overburdening the people. The result has been astonishing.  Government now takes 50 percent of the revenue of the MDAs, with record N840 billion recorded in the first quarter. The NNPC was ordered to remit its dollar earnings into CBN.  Revenue inflow generally  is increasing. FIRS is working towards increasing the percentage of tax to GDP to about 20 percent.

    The inflow of money is making the Tinubu administration dream big and plan big. With Renewed Hope Infrastructure Fund due for launch, the government is already embarking on legacy projects, such as the  700 kilometre Lagos-Calabar Coastal Superhighway, which began in March. Government also plans to reactivate the Sokoto Illela-Badagry Superhighway, which was abandoned in 1976. Many roads and bridges in state of disrepair are to be refurbished. There are plans for rail. Funding for the Ibadan-Abuja-Kaduna rail is being arranged. Port Harcourt-Maiduguri rail will be resuscitated while the Kano-Kastina-Maradi rail line, started by the Buhari administration will be completed with $2billion dollar loan already secured.

    Government has not been short about rolling out several policy initiatives, from the issuance of travelling passports, which has been made quicker,  to the planned implementation of some aspects of the Oronsaye report, to cut the costs of governance.

    Notably, President Tinubu issued an executive order to enhance investment in the oil and gas sector. The quick fruits of the policy was the opening of three big gas plants in the Niger Delta by the President in recent weeks. Mega investments running into over $15 billion are expected in weeks.

    The Tinubu administration has also fulfilled some of the campaign promises with the students loans and Credit Corp ready for take off. To President Tinubu, no Nigerian child should be denied education because the parents could not afford it. He also hopes that the Credit Corp will enhance the purchasing power of workers and boost national commerce.

    President Tinubu at various occasions has acknowledged the pains that some of his reforms  are causing the generality of our people. But he  says they are pains we must bear to make progress as a nation.  An ever caring leader, he is always evolving measures to help reduce the pains. Best of all, he listens to the voice of the people and make necessary adjustments.

     In one of the most profound analysis of our situation and an endorsement of the reforms being executed by the Tinubu administration, Planning and Budget Minister, Atiku Bagudu said in a recent interview: “We want to be like Asian countries, we want to grow like Brazil but Brazil and those Asian countries that we want, (that) we are competing with, have taken measures that we needed to have taken decades ago.

    “The president is even bold to acknowledge that. Let’s do it now. Some of these measures have consequences which we acknowledge. And that’s why again, a number of measures are introduced in order to ameliorate the situation.

    “These measures are helpful to Nigeria, irrespective of North or South because they are to restore macroeconomic stability, to restore security in the country and make it better so that investors will feel confident”.

    •Onanuga is Special Adviser on Information and Strategy to President Tinubu

  • Why Lagos deserves a ‘special status’

    Why Lagos deserves a ‘special status’

    By Opeyemi Eniola

    Since the turn of the century, the city of Lagos has emerged as a major economic and cultural hub in Nigeria and the African sub-region. With a population of over 20 million, Lagos is not only the largest city in Nigeria but also one of the fastest-growing cities in Africa. The 21st century-Lagos had begun to metamorphose into an emerging urban city, almost rubbishing the views of sceptics with their Armageddon-like prediction of a state already fraught with human congestion, surging crime, poor living conditions, environmental degradation, rural congestion, transportation chaos, a literacy rate that is barely above average, and a high cost of living. 

    Despite this downside, however, one thing you cannot take away from this state of aquatic splendour is its vast abundance of energy, skills, and resources. According to a 2012 report by Cities Alliance, a non-governmental organisation, Lagos State’s cultural and commercial strength accounts for 32 percent of the national GDP. Besides, the report describes Lagos as one of the fastest-growing cities in the world and says that by 2015, it is expected to be the globe’s third-largest city, according to United Nations estimates. Nevertheless, Lagos currently goes through oversubscription of its education, a development that this writer believes is occasioned by its explosive and growing population.

    Lagos State is a confluence, no doubt! It is home to a diverse population that cuts across ethnic, religious, political, and socio-economic backgrounds. Little wonder it is generally referred to as a ‘Mini Nigeria’ considering its amalgam of tongues. This diversity nevertheless needs to be addressed within the context of the needs and aspirations of the varying groups that crave for education in the state. And for this to be realisable, Lagos deserves a special status that recognises and acknowledges its unique circumstances and peculiarities.

    Read Also: JUST IN: Tinubu departs Lagos for Abuja

    Although Lagos State is committed to the provision of quality education to all children in the state, the demand for education far exceeds the financial resources available to the state. This explains a surge in enrolments at private schools, which continues to grow rapidly. As stated earlier, with over 20 million residents, there is no way this reality will not put a strain on the city’s education system.

    Now let us use the state basic, secondary and tertiary school sub-sectors to drive home our argument. When Nigeria returned to democratic governance in 1999, the then governor, Bola Ahmed Tinubu, demanded a special status for Lagos. One of the steps undertaken by Tinubu at the time was the expansion of the 20 existing local governments to 57 councils so that more development could percolate, particularly to the grassroots.

    Since then, subsequent governments have repeatedly made similar calls at every opportunity possible. Three years ago, precisely in May 2021, just as plans were underway by the National Assembly to review the 1999 constitution, Lagos State Governor, Babajide Sanwo-Olu, renewed the calls for a special status for Lagos State in view of the breakthrough Nigeria has so far enjoyed, which is arguably linked to the prosperity in Lagos State.

    Speaking at a two-day Senate zonal public hearing on the review of the 1999 constitution in Lagos, Governor Sanwo-Olu said his crave for a special status for the state is predicated on the sensitive role Lagos plays in the national economy despite its restricted land mass. 

    “For us in Lagos State, the issues of state police and fiscal federalism are at the top of the priority list for us in this ongoing review process. Equally fundamental, particularly for us in Lagos State, is the issue of a special economic status for Lagos, considering our place in the national economy and the special burdens we bear by virtue of our large population and limited landmass.

     “I believe the need for this special status has been sufficiently articulated and justified. It suffices for me at this point to restate that this request is by no means a selfish one, but one that is actually in the interest of every Nigerian and of Nigeria as a nation. The progress and prosperity of Nigeria are inextricably linked to the progress and prosperity of Lagos State. A Special Status for Lagos, therefore, must be a concern not only for the people of Lagos State alone but for all Nigerians,” the governor said.

    A 2009-2020 Lagos Sector Education Plan, which captures Lagos State expenditures, revealed that most schoolchildren in Lagos State, for instance, are originally from other geo-political zones of the country. The document states that of the 133,516 junior secondary school pupils in Lagos State, only 13,756 pupils, amounting to 10.30 percent, are Lagos indigenes. Pupils across other Southwest states take the next chunk, with 68,511 amounting to 51.31 percent. Their counterparts from the Southeast followed, claiming another huge 23,979 population, representing 17.82 percent. South-south is 8,355, indicating 6.26 percent, while Northeast has 1,008 pupils, amounting to 0.75 percent. Northwest has 136 pupils, representing 0.10 percent, while North-central comprises 374 pupils, amounting to 0.82 percent. According to the document, total student enrolments into higher educational institutions in Lagos for part-time and full-time programmes skyrocketed from 76,697 to 118,466 between 2001 and 2005. Beyond inter-state migration, Lagos State is also attracting large numbers of expatriates who daily throng the state for Golden Fleece.

    As a result, the city’s population is constantly growing and changing, making it difficult for the education system to keep up. In addition, Lagos is a cultural hub with a rich history and heritage. The city is home to numerous cultural institutions, museums, and libraries that play vital roles in preserving and promoting Nigeria’s cultural heritage. Furthermore, Lagos is a hub for innovation and technology in Nigeria.

    The city is home to numerous tech start-ups, incubators, and accelerators that are driving economic growth and creating new opportunities for its residents. Every year, an army of prospective candidates seek admission into the state-owned university, Lagos State University (LASU), Ojo.

    Unfortunately, a huge number of these candidates hardly secure admission because of access. Two years ago, the two existing colleges of education owned by Lagos State — Adeniran Ogunsanya College of Education, (AOCOED), Oto Ijanikin, and Michael Otedola College of Primary Education (MOCPED) in Noforija Epe — merged to become a university, Lagos State University of Education (LASUED).

    Also, the former state-owned polytechnic, Lagos State Polytechnic, was equally upgraded to Lagos State University of Technology (LASUSTECH), making three state-owned universities in Lagos State. One of the reasons behind government initiatives is the fad for university education, which has now become global. Another important reason, as underscored earlier, is to further address the problem of access, as LASU at the time could not accommodate the legion of admission-seeking candidates that desire university education every year.

    Interestingly, no sooner had the three aforementioned institutions taken off than prospective candidates scrambled to have a slot in the limited spaces available. This means that unless the government, non-governmental organisations (NGOs), and other stakeholders take decisive steps about Lagos State, these problems will continue to exist, marginalising those who thirst for education in the state while hindering the state’s dream of a megacity.

    So what can we do to seek lasting solutions?

    Summing up its research, the Cities Alliance has advocated that the Lagos State megacity project is achievable and will definitely have a greater impact on education in the state. It stated that the Mega City agenda should be a collaborative affair between the state and major stakeholders, transcending Lagos State to the private sector and other levels of government.

    I am of the belief that the city’s large and diverse population, economic significance, cultural heritage, and role as an innovation hub must all coalesce towards creating lasting opportunities in providing quality education on one hand, as well as meeting the needs of those desirous of seeking the same in the state on the other.

    •Eniola is the Senior Special Assistant to Lagos State governor on Basic and Secondary Education.

  • The godfather’s many headaches

    The godfather’s many headaches

    By Mike Kebonkwu

    Uneasy lies the head that wears a crown, especially a crown laced with thorns, just like the executive governor of Rivers State, Siminalayi Fubara.  The godfather has found himself carrying the head of an elephant.  What goes around comes around; we reap what we sow!  It is just a matter of time.  If you are not selfless, you cannot earn loyalty! Fubara has become the nemesis of Nyesom Wike, the Minister of Federal Capital Territory (FCT).  When this raging battle is over, the duo will come out with more grey hairs, migraine and heavily bruised.  Money does not buy loyalty but good leadership and sacrifice does.   We are still struggling to produce great leaders to drive the country but the chances are receding by the day.  Great leaders set agendas and build men and institutions that remain as lasting legacy.  A great leader does not seek to perpetuate self in power and continue in government by proxies, but build honest men to sustain his legacy; not legacy of filth and fraud. 

    Those who control the affairs of men in modern state come as shrewd cunning men whose predisposition to statecraft is the deployment of stratagem to conquer the will of others. Nigeria has not had the good fortune to be blessed with great minds and philosophical leaders for selfless service. We have the misfortune to have men in leadership who calculate their self-worth and relevance in the unoccupied castles they acquire all over the capital cities of the world and their bank accounts. 

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    Welcome to Rivers State and the contest of the godfather to exert control over his new fiefdom. River State is gradually receding into a state of anarchy while the people of the state have lost their voice watching with mute indifference the political storm that is gathering as a fight between the godfather and anointed godson.  The godfather wants to maintain a political hegemony over his political structure while the godson is struggling to wean himself from the rapacious godfather breathing on his neck.  Politics in Rivers State is gradually becoming Italian mafia-like world of gangsters trying to defend their territory with the last drop of their blood, were necessary. 

    Nyesom Wike came to power through the political structure of the Peoples Democratic Party (PDP) now disoriented by self-inflicted injuries and lack of internal democracy.  Wike is trying to establish a political dynasty and structure in Rivers State by putting everyone in his pocket.  He did not subordinate himself to any godfather once he got the rein of power.

    After winning election in Edo State, the former labour leader and two terms governor, party chairman and now Senator of the federal republic, Adams Aliyu Oshiomhole told the world that he had dealt a blow on the godfather politics in Edo State.  Just as everyone thought that the godfather had been given a bloody nose, the former governor tried to install himself a godfather but got a good fight which almost alienated him in Edo politics that he only struggled to win his senatorial seat.  It is almost a tradition that former governors before leaving office, would always want to be in control and so get pliable subservient persons to take over from them so as to continue to pull the string from outside.  

    Udom Emmanuel the former governor of Akwa Ibom State was endorsed by his former boss, Godswill Akpabio that he served very faithfully as commissioner for finance.  Believing that he had gone through the fire of purification as a godson, the former governor now Senate President,   endorsed him and they soon fell out with each other.  Lagos State is about the only exception and a subject of academic thesis to discover what makes the godfather thick. 

    Nyesom Wike is crafty and cunning and typifies the Shakespearean character portrayal by Brutus talking about Caesar, “But ‘tis a common proof, that loneliness is young ambitious ladder, whereto the climber-upward turns his face; but when he once attains the upmost round. He then unto the ladder turns his back. Looks in the clouds, scorning the base degrees by which he did ascend”.    

    Having been helped to attain the top rung of his political career, Wike has turned his back on all those that helped him to climb with a scorn and now bestride the Rivers’ and Nigeria’s  political space like a colossus that some base men would now come and worship him.    He is fixated on power and personal aggrandizement and does not bother the cost to the state. 

    The governor, Fubara is fighting for his political survival and he is going to come out heavily bruised.  For the minister of FCT, he is carrying the head of elephant and if he succeeds, the question of the control of political structure may never remain in his hands again.  What allows people to become lords of the manor in Nigeria is the cash-and-carry politics wherein the chief executive warehouses the resources of the state and turns the people to poor scavengers scrambling for the crumbs from the master’s table. 

    It is unimaginable that an individual would single-handedly bankroll, handpick, and anoint a governor and at the same time nominate and sponsor the entire cabinet and commissioners after he has left office.  What then is the role of the electorate?  This immoral and ignoble hold of power should be broken or we will lose whatever gain we may have made in our democratic journey.  The cost of godfatherism is huge and the case of Rivers State exposes the immorality behind it.  It is so senseless to go to the extent of pulling down the House of Assembly of a state, the very symbol of democracy because of selfish personal disagreement.  For the entire members of the House of Assembly to have resigned en masse or cross carpet to another party at the behest of one person shows that we have zombies with no mind or opinion of their own in power ceding authority to a local Czar that treat them with condescending patronage.

    The political elite, the traditional institutions and royal fathers and the intellectual class have all sold their birth-rights having been compromised while the electorate in the state remains mere pawns on the political chessboard of errant politicians without morality.  Otherwise, why would a people wait and queue behind one individual to tell them where to cast their ballots or a political party to endorse in an election when they are not morons! 

    It is only the people themselves that can solve the political problem in Rivers State.  To do this, they have to wake up from their slumber and deal with the nightmare called godfather currently ravaging the state like locusts.  Power belongs to the people and they should reject individuals and groups that have decided to play god in their lives and the future of their state. 

    This is not just a Rivers State problem but a national malaise that is a threat to our democracy but worse in Rivers State.  Unfortunately, the underpowered and disoriented youths lack the power of thought to take their historical role but instead leave themselves in the hands of politicians as willing tools for political violence and rigging of election. To the combatants in Rivers State, they have thrown their wares in the sand in open market and will never get them back whole.

    •Kebonkwu Esq is an Abuja-based attorney.

  • Dapo Abiodun: Grace galore, bountiful showers at 64

    Dapo Abiodun: Grace galore, bountiful showers at 64

    By Kayode Akinmade

    Those who live by their strength may readily explain how they surmount odds; those who live by the power of the Almighty need no such explanation. They work hard, but they let God be God, directing them as unmoved mover creatively structuring their paths that eventually yields boundless rewards. That is the story of the Ogun State governor, Dapo Abiodun, as he clocks three scores plus four, and five years in the saddle at the Gateway State.

    May 29, for many governors is just the day they assumed office; for Abiodun, it is the very day of his birth, and so the celebration is always multi-pronged. The Royal Air Force has a motto that both instructs and motivates and captures Abiodun’s trajectory: Per ardua ad astra (Through difficulty to the skies). It’s been a long, tortuous, often lonely journey for the Ogun State helmsman that many loved to mock in the days he sought a law-making ticket; those days when he swiftly congratulated winners and immediately collapsed his structures into their own in the interest of the party, elevating the future above the present, confident that his time would come, and trusting in the grace of the One who gives and, adding no sorrow to it.   

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    In his epochal document, My Early Life (1968), the sage, Chief Obafemi Awolowo, left as a gem for all generations: “After rain comes sunshine. After darkness comes the glorious dawn. There is no sorrow without its alloy of joy; there is no joy without its admixture of sorrow. Behind the ugly terrible mask of misfortune lies the beautiful soothing countenance of prosperity. So, tear the mask!”

    When you look at trajectory of Dapo Abiodun’s political life, you see that the words of Nigeria’s sage fit right into the tapestry of his odyssey. Abiodun got into office decades after he first thought of doing so, and the battle when he announced his interest in the Oke Mosan top job couldn’t have been fiercer. Those for whom he literally put his life on the line in the days gone by decided that he was an enemy that must be stopped by all means: the yellow vests usually worn by his supporters was treated like disdainful rags and his posters and billboards were pulled down in blind rage. Abiodun did not have the luxury of a handover note, and even the vehicle in which he rode on inauguration day was borrowed from a neighbouring state!

    If getting into Government House was arduous, living in it was/has been war. There was no trick the naysayers, confounded in their refusal to embrace the reality of their exit from power, did not deploy to take him down. They deployed hack and hired writers buoyed by the rustle of currency notes; they deployed blackmail and character assassination. They scoffed at his projects, including international airports and dry ports altruistically designed to lift the Gateway State into international reckoning. For each road he did across the state, they mocked him for the one not yet done. They called him a non-performer, but could not fault the verdict by local and international agencies that recognized his genius in ICT, agriculture and business development, in education and the arts, and in the health and housing sectors. When he would not budge, they went after his men, cooking up stories to break marriages and demoralize his leadership, but they failed with embarrassing rapidity.

    The last four years have been so turbulent for his administration. The Iperu-born prince and business mogul has faced character assassination and political betrayal by diverse camps of crooks and laissez-faire personalities. But when many believed that there should be a casting down, the Almighty God decreed a lifting up. Today, as he celebrates his 64th birthday; it is evident that God has put an end to his political travails. When you look at what he has gone through in the last four and a half years, you can only give thanks to the Almighty God. Court cases, blackmail, the threat by his predecessors and opposition vote buyers; the treachery by certain devious party men who hobnobbed with the opposition after riding to power on the ticket of his generosity—the list was literally endless. Many thought the music had ended for Abiodun after his first four years, but God did His wonders. Many naysayers believed he would not survive the grand betrayal, but he did, and today treachery has buried those who hatched by it in hot lava. They are like fish out of water, and birds shorn of wings. Abiodun is 64, in good health, and with a great record. It is The Lord’s doing and it is marvelous in our sight.

    The dark night is past, and Ogun is on the way to a glorious dawn. Those who thought he could not do well in government and cast aspersions at his personality are now serenading him for what he has done. It is no coincidence that his remedy for the economic anguish in the land remains unmatched, his palliatives alluringly novel. From students to civil servants, and artisans to market (wo)men, everyone has a sense of belonging. Ogun students in higher institutions got N50,000 each while their counterparts from other states got nothing; those in the lower levels got N10,000 each. Thousands benefited from his festival of surgeries; civil servants enjoyed cash and food packages: rice was sold at half the price. Buses, tricycles and bikes running on CNG crashed transport costs, and special food markets charging half the normal prices of foodstuff eased the pains of the populace. Close to 600 kilometres of roads have been done, but of course much more remains to be done because of Ogun’s massive size. Recognizing his genius, the federal government appointed him a member of its economic team. The economy is recovering, thanks to the president’s ingenuity and the vision in appointing Abiodun as part of Nigeria’s economic brainbox. Most analysts say that Prince Abiodun’s ISEYA mantra has been a massive success, yet he is conducting a multidimensional survey to solidify the feedback mechanism.

    Significantly, the political atmosphere is calm. Ogun, once a war zone, is at peace. Blood flowed before him; now, it is commerce conducted in tranquillity that pervades the state. Instead of thugs and touts, entrepreneurial youth rule both the public and private spaces. Those who fed from trouble and piled up weapons of war in the dark days have been pushed into irrelevance. In Abiodun’s Ogun, peace is the common currency of life, and troublemakers have no hiding place. The governor has no enforcers, only supporters who love good governance. As the international relations and public policy experts Roshan Paul and Sarah Jefferson contend, “Peace is a pre-requisite for development as a whole because it creates an enabling environment for the fundamentals of a society’s progress: human capital formation, infrastructure development, markets subject to the rule of law, and so on. In the absence of peace, education and health structures break down, systems to provide infrastructure disintegrate, and legal commerce is crippled. Critically, peace also frees up resources, both financial and human, that would otherwise be diverted to controlling (or creating) violence.”

    Governor Abiodun is a man of his word, and the people love him for it. Says the Bard of Avon: “The purest treasure mortal times afford is spotless reputation—that away, men are but gilded loam, or painted clay.” As he moves into the middle of his second term, we wish him greater strides in office. Happy Birthday to the People’s Governor.

    •Akinmade is Special Adviser on Media and Communications to the Governor of Ogun State.

  • Tinubu’s agenda: Revitalising Nigeria, promoting sustainability

    Tinubu’s agenda: Revitalising Nigeria, promoting sustainability

    • By Rafael Agbajo

    President Bola Tinubu’s assumption of office on May 29, 2023, came at a critical juncture in Nigeria’s history, characterised by a multitude of challenges. His bold inaugural declaration, “Subsidy is gone,” heralded a significant departure from previous policies, signalling a pivotal shift in the nation’s economic strategy. Determined to confront these challenges head-on, Tinubu’s administration wasted no time in initiating a series of essential reforms aimed at stabilising and propelling Nigeria towards sustainable development. The one year has been marked by a resolute commitment to addressing Nigeria’s pressing challenges and steering the country towards a brighter future

    In his inaugural year, Tinubu pursued a bold agenda focused on comprehensive economic reform, infrastructure development, and governance enhancement. Key among his administration’s initiatives were the removal of fuel subsidies and the unification of the exchange rate, both of which were pivotal steps towards fostering sustainable economic growth and stability. These decisive measures aimed to address longstanding economic distortions and restore investor confidence in Nigeria’s economy.

    At a ministerial retreat convened to delineate the administration’s core priorities, Tinubu outlined a comprehensive framework aimed at driving progress across various sectors. By January 15, the administration redefined its goals, articulating eight priority areas in a circular issued by the office of the Secretary to the Government of the Federation. These areas encompassed economic reform, national security, agriculture, energy, infrastructure, education, healthcare, social investment, industrialisation, digitisation, creative arts, manufacturing, innovation, and governance improvement.

    Approaching the one-year milestone of Tinubu’s administration presents an opportune moment to assess its achievements and impact. As Nigeria navigates through a period of profound transformation, Tinubu’s leadership and decisive actions stand poised to shape the nation’s trajectory towards sustainable development and prosperity for all its citizens.

    President Tinubu’s administration, at inception, placed significant emphasis on economic reform and development, implementing various initiatives over the past year to stimulate growth and stabilise the financial environment. One of the most notable actions was the removal of fuel subsidies at the beginning of his tenure, aimed at reducing government expenditure and reallocating funds to critical sectors like infrastructure and social services.

    Despite facing initial resistance, this policy shift is intended to establish a more sustainable economic framework and has paved the way for innovative solutions such as the introduction of electric and Compressed Natural Gas-powered vehicles to the economy.

    Since June 2023, there has been a notable improvement in the Federation Account Allocation Committee (FAAC), with states and local governments receiving increased allocations to meet their financial obligations. Under Tinubu’s leadership, no state has reported difficulties in paying salaries. For instance, in May 2023 when he assumed office, the total disbursement from the FAAC stood at N976.34bn, but after the removal of subsidies, it rose significantly to N1,134.03tn in June 2023. This trend has continued, with a total of N1,208.081tn shared among the Federal Government, states, and local government councils in April, reflecting increased revenue generation.

    Another bold move by President Tinubu was the unification of the exchange rate, aimed at attracting foreign investment and enhancing economic transparency. Despite facing challenges initially, such as the Naira reaching an all-time high of nearly N2,000 to a dollar due to speculative activities and cryptocurrency trading, the government successfully clamped down on speculators, including platforms like Binance and others engaged in Peer-to-Peer trading. As a result, the Naira has experienced more stability, and in April, it emerged as the best-performing currency globally, bolstered by positive sentiment from leading international investors.

    Furthermore, President Tinubu’s administration has prioritised infrastructure development, particularly in the transportation and energy sectors. Projects such as road network expansion, airport modernisation, and improvements to the national power grid have been undertaken to ensure a more reliable electricity supply and enhance connectivity across the country. These infrastructure investments are vital for facilitating economic growth, attracting investment, and improving the overall quality of life for Nigerians.

    On security, which has been a major concern in Nigeria, President Tinubu’s administration has made strides in improving the security situation in the country. Banditry and kidnapping were the order of the day in the days before his swearing-in. Today, the security situation is improving, as the administration keeps getting applause from both local and international observers. Not that it is yet Uhuru, but the approach by the security apparatuses had given hope of better days ahead. The speed at which those kidnapped were being rescued showed that intelligence gathering has been improved upon. The military too is making more efforts in decapitating the remnant of the insurgents. If the tempo is sustained, Nigeria is on its pathway to greatness.

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    On infrastructure and transport, the third agenda of the administration, the President Tinubu government has kept improving the infrastructure it met on the ground. Kudos must be given to the immediate-past administration of former President Muhammadu Buhari for the construction of the Second Niger Bridge, dualisation of the Lagos-Ibadan highway, Abuja-Kaduna road, among many others and the revival of the train services on the Lagos-Ibadan, Abuja-Kaduna, and Warri-Itakpe route. On assuming office, the president told the Minister of the Federal Capital Territory, Nyesom Wike, that he would like to ride the Abuja Metro Line. Tomorrow, May 29, the rail line would be officially flagged off for commercial services.

    On the diversification of the economy, the government is setting its focus away from oil, by boosting businesses and industries. Recently, the management of the Chinese giant, CCECC, was in the State House and discussed venturing into Lithium extraction and production. There is a Lithium factory in Nasarawa State at the moment. Also, the government is looking into other sources of income for the economy, to boost the economic growth of the nation.

    Both Kaduna and Port Harcourt refineries are coming on stream. The government has also invested so much in the security of its pipelines and this has helped oil production in the country. Also, the government is diversifying and getting more focus on gas. With the removal of subsidy on petrol, the government has launched many gas projects across the Niger Delta area, to help its consolidation plan for the era of gas in the country. The government is investing to make available Compressed Natural Gas, Liquefied Pressure Gas, and others, to aid transportation and boost the economy. Many CNG stations are springing up and the government during the first anniversary is distributing gas-powered vehicles to states. The Executive Order on Oil and Gas is also yielding results.

    The Nigerian government signed a memorandum of understanding with John Deere on the supply of around 2,000 tractors yearly for the next five years. This will increase agricultural productivity. The tractors will be sold under a financing agreement, allowing farmers to acquire them. Also the introduction of Special Agro-Industrial Processing Zones to concentrate agro-processing activities within areas of high agricultural potential to boost productivity and the grant by the African Development Bank of $134m to Nigeria to cultivate rice, maize, and others. These initiatives will contribute to improving food security in the country. The government is massively cultivating wheat at the moment. Then, there is the fertilizer fund by the Central Bank of Nigeria to help farmers.

    On education, President Tinubu has facilitated strategies to improve the standard of our educational institutions. There is an ongoing school census, for primary and secondary education, to know the state of the facilities. Also on Friday, May 24, the much-anticipated Student Loan Scheme came alive. The scheme will help the students to get tuition as a loan and repay after graduation.

    On health, the government is revamping the health sector with massive funding. The government is also looking at the welfare of the health professionals. On social investment, the government launched various schemes to cushion the effects of the petrol subsidy removal. Grants to SMEs, and business loans, among others are examples of such benefits.

    As President Tinubu approaches the one-year milestone of his tenure, the nation stands at a critical juncture poised for transformative change. While significant progress has been made, much work remains to be done. However, with strong leadership, bold vision, and unwavering commitment to the people of Nigeria, President Tinubu’s administration holds the promise of delivering tangible and lasting improvements that will shape the nation’s future for generations to come.

    •Agbajor, a social commentator, writes in from Abuja.

  • Iran beyond Raisi

    Iran beyond Raisi

    Iran, a Shiite theocracy on the Arabian Peninsula, suffered a mortal blow early last week when an helicopter in which President Ebrahim Raisi was travelling crashed, pulling him down to a fiery death along with some other top Iranian officials.

    Raisi was on Sunday, 19th May, returning from a ceremony at which he and Azerbaijan President Ilham Aliyev inaugurated a dam at the border region of Iran and Azerbaijan when the American-made Bell 212 helicopter conveying the Iranian president slammed into a mountain peak amidst thick fog, killing him and all others on board including Foreign Minister Hossein Amir-Abdollahian. The charred wreckage of the helicopter carrying eight passengers and crew was found early on Monday after an overnight search in blizzard conditions. Besides Raisi and Amir-Abdollahian, others who died in the crash were the governor of Iran’s East Azerbaijan province, a senior cleric from the Iranian city of Tabriz, an official of Iran’s elite Guardian Council and three crew members, according to state-run agency IRNA, which is the only outlet for news in the authoritarian state.

    Although the crash caused the death of lynchpins of the Iranian state, Supreme Leader Ayatollah Ali Khamenei said the government remained steady and state running business-as-usual while the crash victims were being mourned – he announced five days of national mourning. On the heels of confirmation of the deaths early on Monday, he named first vice-president, Mohammad Mokhber, as caretaker leader in line with the constitution of Iran that stipulates calling a new presidential poll within 50 days. Ali Bagheri Kani was named interim foreign minister. The state news agency said fresh presidential election would hold on Friday, 28th June, with candidates to be registered between 30th May and 3rd June.

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    Iran disclosed no cause for the crash nor suggested that sabotage was involved, but conspiracy theorists fingered Israel with which Iran has been in long-drawn mutual hostility. The United States as well got blamed because while Iran has flown Bell helicopters extensively since the era of the Shah, aircraft in the country face shortages of spare parts owing in part to Western sanctions, and they often fly without safety checks. It was against that backdrop a former Iranian foreign minister, Mohammad Javad Zarif, argued that the U.S. was culpable in the crash. He was repotted saying in an interview: “One of the main culprits of (the) tragedy is the United States, which embargoed the sale of aircraft and aviation parts to Iran and does not allow the people of Iran to enjoy good aviation facilities. This will be recorded in the list of U.S.’s crimes against the Iranian people.”

    An ultraconservative cleric who formerly headed Iran’s judiciary, Raisi, 63, was widely seen as a protégé and likely successor to Khamenei – a hardcore hardliner who has the final word in Iranian affairs and is the de facto head of state. Khamenei has been supreme leader since 1989, but aged 85, he has suffered health challenges in recent years and the question of who replaces him as supreme leader upon death or retirement has gotten more topical in Iran. Raisi was touted as the likely candidate, the only other potential mentioned being Khamenei’s 55-year-old son and mid-level cleric, Mojtaba Khamenei. But analysts argued that Mojtaba succeeding his father would mark a shift from the principles of the Islamic republic, which overthrew the Shah dynasty in an Islamic revolution 1979 and has since prided itself on shaking off hereditary rule. So, with Raisi’s death, the succession plot is up in the air.

    Raisi came to power in 2021 through an election whose outcome many saw as engineered because moderate and reformist candidates were blocked from contesting, just to favour hardliners, and with voter turnout being the lowest in the Islamic republic’s history. By the laws of the Persian Gulf country, a powerful 12-member body, the Guardian Council charged with overseeing elections and legislation, screens candidates for presidential elections and pre-vets membership of an 88-member assembly of mullahs that determines succession to the supreme leader position. Raisi until his death sat in the assembly of mullahs that has gotten increasingly hardline over the years: he won re-election to the body last March.

    The hardline disposition of leadership characterises the conduct of the Iranian state. Under Raisi, Iran’s ties with the West nosedived as the country enriched uranium closer than ever to weapons-grade levels. The country supplied bomb-carrying drones to Russia for its war on Ukraine, and fuelled proxy wars through  sustained moral and material support for the “axis of resistance” of political and military groups like Hamas in Palestine, Hezbollah in Lebanon, the Islamic Resistance in Iraq and Houthi rebels in Yemen. Meanwhile, Iran’s leadership faced years of internal uprising by Iranians over the country’s economy that has been laid prostrate by Western sanctions. There were as well virulent protests over women’s rights, the most recent following the 2022 death in security agents’ custody of Mahsa Amini, a young woman who was detained over her allegedly inappropriate hijab dress code. Months-long security crackdown against demonstrations over the death of Amini killed more than 500 people and saw over 22,000 detained. In March, a United Nations investigative panel found the Iranian leadership culpable for Amini’s death.

    Beyond its borders, Iran has had a combative reputation in the Middle-East. The country over the years provided financial and other forms of support to Palestinian militant group, Hamas, which staged the 7th October attack on Israel that triggered the yet ongoing Gaza war. While there is no that evidence Iran was directly involved in the 7th October attack, its leaders voiced solidarity with the Palestinians. The country’s allies in the region have gone much further: Lebanon’s Hezbollah militant group has waged a low-intensity conflict with Israel since the start of the Gaza war, with the two sides trading strikes on near-daily basis along the Israel-Lebanon border, forcing tens of thousands of people on both sides to flee. So far, though, the conflict has not boiled over into a full-blown war that would be disastrous for both countries. Also, Iran-backed militias in Syria and Iraq launched repeated attacks on U.S. bases in the opening months of the war but pulled back after U.S. retaliatory strikes for a drone attack that killed three American soldiers in January. Yemen’s Houthi rebels, another ally of Iran, have repeatedly targeted international shipping in what they touted as a blockade of Israel. Their strikes, which often target ships with no apparent link to Israel, have also drawn U.S.-led retaliation.

    Meanwhile, tensions between Iran and Israel never before reached as high as they were in April when Iran under Raisi and Supreme Leader Khamenei launched hundreds of drones and ballistic missiles at Israel, in response to an airstrike on an Iranian Consulate in Syria that killed two Iranian generals and five officers. Israel, with the help of the United States, Britain, Jordan and others intercepted nearly all the projectiles. In apparent retaliation, Israel has launched its own strike against an air defense radar system in the Iranian city of Isfahan, causing no casualties but sending an obvious message. The sides have waged a shadow war of covert operations and cyberattacks for years, but the exchange of fire in April was their first direct military confrontation. Speculations that Raisi’s death could be an extension of this confrontation are highly moot because while Israel is believed to have carried out attacks over the years targeting senior Iranian military officials and nuclear scientists, there is yet no evidence linking it with the helicopter crash.

    Iran’s potential stretches beyond the Middle East. Western countries – just like Israel – have long suspected the Islamic republic of pursuing nuclear weapons in the guise of a peaceful atomic program – a pursuit they regard as a threat to global non-proliferation. Former U.S. President Donald Trump’s withdrawal from a nuclear pact between Iran and world powers in 2018, and his imposition of crushing sanctions, led to Iran gradually abandoning all limits placed on its program by the deal. Surveillance cameras installed by the UN nuclear agency have been obstructed, while Iran has barred some of the agency’s most experienced inspectors. The country always insisted its nuclear program is for purely peaceful purposes, but the U.S. and other nations suspect it has an active nuclear weapons program. In that, it might be simply aiming to match Israel, which is widely believed to be the only nuclear-armed power in the Mid-east though it has never acknowledged having such weapons.

    After Raisi, not much will change in the nationhood character of Iran. The levers of power repose effectively with Khamenei and the Guardian Council, and these are core conservatives in disposition. Iran as we know it will continue business-as-usual.

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

  • Waiting for Cardoso

    Waiting for Cardoso

    By Aoiri Obaigbo

    My beloved friend has a farm in Ibadan area. A herd of cattle went in there and not only ate his cassava plants but also trampled on the mounds. The law enforcement advised him to plant ‘cow not allowed’ sign posts at strategic points and one is wondering whether cows can now read or whether herdsmen care a hoot.

    The bankers committee and the NIBSS which were set up to promote ethics and collaboration respectively have transformed the financial system into a huge farm where their herds may graze with only a signpost to restrict them. CBN’s interest in stability of the economy is hardly reflected in the actions of these institutions.

    Keep this in the parking lot as we drive through the rest of this text.

    For the purpose of knowing when the rain started beating us, every big institution like the CBN needs a resident historian. Curating how things began provides organic decisions at the fork road.

    The dollarisation of our economy, in the past eight years became a mechanism for enriching the financial herdsmen and wrecking our collective farmland. How did we become addicted to dollars and when will the addiction end?

    During World War I, the Allies paid the U.S. for arms supplies using gold, which made the U.S. the largest holder of gold. That’s when the dollar gained prominence as a global currency, shoving the pound sterling aside.

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    So in 1944, forty-four allied countries convened in Bretton Woods and established the Bretton Woods Agreement, under which the U.S. dollar was designated as the official reserve currency, backed by gold.

    The International Monetary Fund (IMF) was also created during this conference to facilitate international monetary cooperation.

    By 1960, some countries had reduced the U.S’s share of global GDP to about 40%. Despite this, the dollar remained dominant.

    In 1971, rising government spending led to inability to maintain the dollar link to gold at $35 per troy ounce. President Richard Nixon suspended the dollar’s convertibility with gold. The Nixon shock reshaped international finance, the currency markets, and trade relations.

    The dollar continued as the primary reserve currency, though it was no longer tied to gold. This is the beginning of a voodoo dollar value if you remember that money started as receipts for gold deposits.

    As of 2022 data, the United States has dwindled to approximately 15.54% of the global gross domestic product (GDP).  So its share has declined over time, yet approximately 59% of all foreign bank reserves are denominated in U.S. dollars based on international agreements and speculative rather than true value.

    In recent times, de-dollarisation has become a thing. It refers to countries reducing their reliance on the U.S. dollar as a reserve currency, medium of exchange, or unit of account. It involves seeking alternatives to the dollar for international trade and financial transactions.

    Some citizens of Nigeria like Femi Falana are looking up to Yemi Cardoso to take a clue from this trend. For the first time in 48 years, Saudi Arabia has indicated interest in trading outside the yoke of the dwindling dollar. Brazil, Argentina, Ghana and a growing number of countries are looking away from the USD. In April 2022, four European gas companies made trade payment settlements in roubles. What is Nigeria waiting for? Our romance with the greenback has done nothing but emasculated our economy.

     A look at the metamorphosis of the naira will justify citizens desire to be free as well. Naira was introduced on January 1, 1973, making Nigeria the last colonised nation to exit the apron strings of the British pound.  “Naira” was coined from “Nigeria” by Obafemi Awolowo, and launched by Shehu Shagari as the Minister of Finance in 1973. It immediately fell under the influence of the US dollar by default. Starting with a value of two naira to a pound, the twin monetary organs of the West began to implement a fluctuation graph for the naira which began to kick in during Ibrahim Babangida’s bewildering debates about IMF loans. To take or not to take it and the crippling diseases that come with taking it.

     In 2016, the naira was allowed to float after being pegged at ₦197 to US$1 for several months. Unknown to Nigerians, the plunge had only just begun.

    With the US dollar once exchanging at almost two dollars to a naira striking a deadly curve at a peak of $1600 to a naira, citizens are praying for Cardoso to consider the growing trend of de-dollarisation. Understandably, all the profiteers of the present arrangement will be resistant to this logical progression.

    President Bola Ahmed Tinubu, speaking during an interactive session with Nigerians in France and neighbouring European countries said that under Godwin Emefiele, “…the financial system was rotten. Few people [were] making bags of our money” while impoverishing majority of Nigerians. He promised financial reforms in the coming weeks.

    During Emefiele’s tenure, Nigeria indeed faced economic challenges, including two recessions, high inflation rates, and a high debt profile.

    Central bank governors typically operate without getting entangled in politics, but Emefiele went to the extent of ‘vying’ for office.

    Emefiele lorded over a system of multiple exchange rates, which was criminally exploited by a cabal. While his policies and actions had a substantial impact on Nigeria’s financial system, attributing the rot in an entire system to him is rather oversimplifying a complex situation.

    The Nigerian Inter-Bank Settlement System (NIBSS) plays a crucial role in the country’s financial system, facilitating electronic payments, interbank transfers, and settlement processes. NIBSS has not only a master list of everyone engaging in a financial transaction through a bank but also an instant record of every transaction in the ecosystem.

    In tandem with commercial banks, regulatory bodies, and monetary policies committee in charge of system stability, it is a major backbone of the financial system.

    The Bankers Committee, composed of top executives from commercial banks, also significantly influenced Nigeria’s financial landscape.

    President Tinubu’s remarks underscore the need for comprehensive reforms and transparency in Nigeria’s financial ecosystem. The role of NIBSS and the bankers committee, along with other economic factors, must be examined when assessing the decay in our financial system. Emefiele didn’t run the town all by himself.

    Cardoso’s move towards a single, market-determined exchange rate will certainly eliminate distortions caused by Emefiele’s multiple rates, but the NIBSS infrastructure must be x-rayed in other to account for issues like round-tripping— a deceptive financial practice where two entities engage in a series of transactions that create an illusion of legitimate business activity.  In reality, they are merely exchanging the same money or assets back and forth.

    By round-tripping, banks created artificial demand for foreign currency (such as dollars). They diverted allocated dollars to the black market for higher profits. This increased demand lead to scarcity and put pressure on the exchange rate. It also attracted speculators who bought and sold dollars rapidly, further impacting the exchange rate. Most crucially, when dollars are diverted from legitimate transactions, users faced scarcity. This scarcity affected businesses, individuals, and essential transactions, leading to the rot the president alluded to and economic instability. Imagine a situation when companies in Nigeria began to sell in dollars.

    Not quite a saint himself, Bode George has had the audacity to drag bank MDs— members of the bankers committee—for undermining our financial system in this way.

    The reforms the president promised must not be superficial. Two things should happen. NIBSS is the settlement partner for all banks. It’s assumed that NIBSS infrastructure is the vehicle for interrogating the eight-year tsunami that brought Nigeria’s financial system to the verge of collapse. For more control over stability of the economy and increased monitoring capacity, Cardoso must review the 3.5% stake of CBN in NIBSS. After all, the United States Department of the Treasury exercises considerable oversight over SWIFT— Society for Worldwide Interbank Financial Telecommunication— and consequently has a huge sway on the global financial transactions systems, with the ability to impose sanctions on foreign entities and individuals.

    Locally, increasing transparency of our financial master list is imperative. Internationally, diffusing a situation of economic enslavement to the USD is a task that must be done. Erecting a ‘do not enter’ signpost against a ravaging herd is insufficient.

    •Obaigbo is the author of The Wretched Billionaire.

  • The Nigerian spirit is special

    The Nigerian spirit is special

    By Zayd Ibn Isah

    It was an unforgettable night on May 22 for three Nigerian footballers: Victor Boniface, Ademola Lookman, and Nathan Tella, as their clubs faced off in the UEFA Europa League final. The long anticipated match kicked off at the Aviva Stadium in Dublin, and for Ademola Lookman, it was a night of pure glory, one whose significance would forever be etched deep into his heart. This was because the 26-year old sensational striker scored three goals to secure for his club, Atalanta, their first-ever Europa title in 117 years. There are few better fairy tales such as that in football, and the world of sporting in general.

    In stark contrast, Victor Boniface and Nathan Tella had what could be best described as a downer of a night, one they would wish had been more favourable for them, crushed as they were by missed opportunities and the bitter taste of defeat.

    What happened last Wednesday is even more incredible when one considers that Bayer Leverkusen had gone into the final as the top dog and clear favourites. And why not? After enjoying a 51-match unbeaten streak worldwide, one would expect that the final would be more or less a walk in the park for them. Add that to the anticipation of Xabi Alonso bringing Leverkusen into the hallowed realms of historic treble-winning campaigns after clinching the Bundesliga title. But then, such is the beauty of the round leather game that one can never really be certain about anything until the final whistle is blown. And of course, it would have been utterly arrogant of anyone to write off Atalanta as a walkover. The Serie A side have had nothing short of a stellar season, and who can easily forget how they trounced Jurgen Klopp’s Liverpool by three goals to nothing at Anfield of all places?

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    For Atalanta, it just so happened that when they needed to overcome the odds stacked against them in Dublin as they squared off with Xabi Alonso’s formidable team of champions and record-breakers, Ademola Lookman stepped up to put all doubts to rest. And boy did he do it in spectacular style.

    Nigerians from all walks of life, especially the diehard football fans, celebrated Atalanta’s victory in much the same way they would have celebrated with Bayern Leverkusen had it been the other way round. The underlying contest was clearly between the three Nigerians for whom the achievement of victory would have been irresistible, something to attain at all costs even. It was definitely not going to be a matter of “no victor, no vanquished.” It is also worth noting that even though many people would have preferred a historic Bayern Leverkusen triumph, particularly one that would elevate the duo of Victor Boniface and Nathan Tella for being part of an invincible run, either way, the eventual results still proved to be a victory for Nigerian football.

    And with the exhibition of hat-trick heroics, Ademola Lookman has now joined the league of Nigerian football legends who played significant roles in winning major titles for their clubs. Last year, the world of football was in awe of Victor Osimhen for bringing joy to the people of Naples after helping their home team, Napoli, win their first Scudetto in 33 years.

    Sports aside, it should be clear to most people that Nigerians are a special breed. There is just something special about the Nigerian that makes them resilient, determined, and capable of achieving greatness not only in sports, but also in other endeavours. In a variety of fields, Nigerians often stand out as record breakers and pacesetters. This was the reason why a BBC article in 2021 described Nigeria as “the country that loves to overachieve.” As much as that description is a tad hilarious, it echoes an undeniable truth, one instilled in most Nigerians right from childhood. If you conduct a survey on Nigerians across major social media platforms, you can be sure to draw in respondents who would affirm two distinct myths peculiar to the Nigerian experience: 1) the case of parents who, in order to encourage or scold their children, would claim to have been constantly at the top of their classes from primary to secondary school, and 2) the belief anything other than “first position” in one’s class at the end of each academic term, was simply failure.

    According to a 2023 report from the Migration Policy Institute in Washington, USA, Nigerians in the United States are the most educated group of immigrants, with a significant percentage (61) holding more Bachelor’s degrees than other immigrant groups and the locals as well. Not only that, but Nigerians, and those of Nigerian descent, are also among the most successful immigrant groups in the USA, with a lot of them living the American Dream as rich medical practitioners, tech-based professionals, lawyers, authors, athletes, entertainers, entrepreneurs and popular social media figures.

    Even beyond the continental sprawl of the United States, Nigerians still succeed and thrive in various aspects of life, causing others to mark them out for being creative, enterprising, daring, resilient, smart and goal-oriented. In effect, the myth of the Nigerian spirit appears to be more than just that. In millennial/Gen Z terms, the hype is real. Or how does one explain the rate at which Nigeria is churning out winners of Guinness World Record breakers, football league champions, academic geniuses, Afrobeats pushers, literary talents, social media and streaming giants, athletic greats, tech and science innovators, and so on and so forth?

    The rate at which Nigerians continue to inspire and elevate the nation on the global stage is worth envying, although critics often point out that Nigerians only seem to be able to excel outside their own shores, due to the artificial limitations that stifle and bury potential within a country of over 200 million people. One might even go as far as to say that Nigerians also stand out in less flattering areas such as corruption, embezzlement, cyber fraud, insecurity and violence. While this is just being intentionally dishonest and biased, it is worth noting how often Nigerians are lumped under negative stereotypes with the consequence that a few bad eggs are allowed to define the entire crate.

    Agreed, like any other society, we are not without our flaws. These flaws often come to light through the criminal actions of certain people who do not represent the truest essence of the Nigerian spirit. The actions of a few should never be allowed to define the many. This is why it is crucial that we tirelessly showcase those values which best define us: our diligence, our authenticity, our friendliness, our spirituality, and our zeal. In consciously adopting this strategy, we can begin countering the harmful “danger of a single story”, as Chimamanda Ngozi Adichie famously put it.

    The Nigerian spirit is a strong force, and it can be used for good. Our children can benefit from it in the sense that it can be used to help them embrace their identity, shoot for the stars in their pursuits, and strive to positively represent Nigeria in every space they venture within.

    Let us tell the young ones about Wole Soyinka, Aliko Dangote, Nnedi Okorafor, Tunde Onakoya, Hilda Baci, Jelani Aliyu, Ngozi Okonjo-Iweala, Amina J. Muhammad, Victor Osimhen, Akinwumi Adesina and yes, Ademola Lookman. Let the young and upcoming generations launch themselves into greatness knowing that they come from a heritage of absolute supremacy.

    And for the rest of us, let us flaunt our true colours and dazzle the world with the beauty that is Nigeria. This is so that as we work hard to prove we are a nation of dreamers and doers with much to offer humanity, we can proudly trumpet our triumphs and learn for the purpose of growth, constantly retaining the special mentality of doggedness and excellence that is the Nigerian spirit.

    •Isah can be used via lawcadet1@gmail.com