The Nation Newspaper

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  • Naira’s recent gains and the road ahead

    Naira’s recent gains and the road ahead

    • By Ezinwanne Onwuka

    The naira has made a remarkable recovery, gaining 34 percent since mid-March after losing 43 percent of its value against the US dollar in the first two and half months of 2024. The turnaround is shocking, I must say. As of February when the naira–USD exchange rate hit N1,600 while the naira–GBP rate was over N2,000, I feared that the former rate would also breach the N2,000 mark by the second quarter of this year. Alas! The naira bounced back, reflecting the spirit of resilience the country is known for.

    The exchange rate has been on a rollercoaster since Bola Tinubu’s administration unified it in June 2023. We have watched the naira trade at an all-time high of N1,932 to currently trading at N1,200 in the streets, with the official exchange rate trailing closely behind. This progress is driven by recent steps taken by the Olayemi Cardoso-led Central Bank of Nigeria, CBN, such as the lifting of foreign exchange restrictions on 43 previously banned essential items, a walkback on dollar sales to Bureau De Change agents, and a ban on cryptocurrency trading platforms. The CBN also raised borrowing rates by 400 basis points in February to 22.75 per cent, and by another 200 basis points to 24.75 per cent in March. Additionally, it cleared a backlog of overdue dollar-purchase agreements estimated at US$7 billion.

    From the foregoing, the CBN’s intent on exploring every possible action to stabilise the forex market, narrow the gap between the official and parallel market rates, and ultimately reduce exchange rate volatility is glaring. These measures are really paying off. Penultimate week, the CBN sold US$10,000 to each authorised BDC at a rate of N1,101/US$1, to sell to Nigerians at a rate not exceeding 1.5 per cent above the purchase price. That is, the BDCs are expected to sell at N1,171. The rate is the strongest level at which the CBN has sold the dollar to BDCs since February, when it first offered them at N1,301/US$1. By the second sale, the bank reduced the allocation by 50 per cent and sold the USD at a rate of N1,251/US$1.

    The CBN deserves credit for its swift intervention. The naira’s performance in recent weeks, which has seen it jump from the worst-performing currency to the best-performing currency globally, has offered a sigh of relief to many Nigerians after about eight tumultuous months of a cost-of-living crisis partly occasioned by the free fall of the currency. Mr. Cardoso has proved his finesse in economics in just eight months in office as CBN governor, ameliorating the damages wrought by embattled Godwin Emefiele, the immediate past CBN governor.

    Nigerians hope this gain endures; we cannot afford to be lulled into a false sense of security. The recent uptick in the naira’s value is a window of opportunity for the Nigerian government to implement strategic interventions aimed at economic stability and growth. The measures already taken by the CBN are akin to administering pain medication – they address the symptom, not the underlying disease. Hence, the road to a truly stable naira remains long. The current reprieve should not mask the underlying vulnerabilities of the Nigerian economy.

    The key to long-term stability lies in structural reforms, such as diversification. Diversifying the economy beyond oil is paramount. Our overdependence on oil exports makes the economy susceptible to fluctuations in global oil prices. A potential global economic slowdown or a dip in oil prices could quickly reverse the much-celebrated gains. It is time to give other sectors like agriculture and manufacturing, among others, a chance to shine. That way, a more robust, flexible, and durable economy will sprout.

    Read Also: Senate: Persistent depreciation of Naira worrisome

    Improving the ease of doing business in the country to attract both domestic and foreign investment is another way to sustain the strength of the naira. Measures such as less paperwork and fewer hoops to jump through, among various others will make Nigeria a more attractive place to do business. And more business means more jobs and more money flowing into the economy. Fortunately, we have a president who understands this and has, time and again, shown his commitment to making Nigeria “a destination of choice for local and foreign investments.” President Bola Tinubu believes he is not building a castle in the air because “we have taken the largest elephant out of the room with the removal of fuel subsidy, and multiple exchange rates are equally gone.”

    And let’s not forget about reducing our reliance on imports and creating a vibrant export sector to improve the country’s balance of trade. Another essential aspect involves prudent fiscal management. That means being careful with how the government spends money and making sure we are not racking up huge debts. Plus, the CBN must continue to implement sound monetary policies to keep inflation in check and the exchange rate steady.

    The official exchange rate of the naira to a US dollar stood at about N465.07/US$1 at the time Tinubu took over as Nigeria’s chief administrator in May, last year. If we are willing to roll up our sleeves and get to work, the current progress will not be temporary flickers but a springboard for long-term economic prosperity.

    • Ezinwanne writes via ezinwanne.dominion@gmail.com.
  • Rising spate of cable theft: whose fault?

    Rising spate of cable theft: whose fault?

    • By Shuaib S. Agaka

    While cable theft might seem like a localized issue affecting the telecom industry, its repercussions extend far beyond severed wires and interrupted services. This covert practice has evolved into a significant threat, imposing substantial costs on both telecom companies and the society at large. The pilfering of telecom cables, often for their valuable copper components, has become an all-too-common occurrence, leading to service disruptions, financial losses, and even jeopardizing public safety during critical moments.

    Telecom companies, entrusted with providing seamless communication services, find themselves battling an elusive enemy. Despite investing heavily in both technologies and security measures, they continue to face relentless attacks on their infrastructure. The vulnerability of telecom cables to theft highlights systemic weaknesses in safeguarding critical assets.

    Economic costs associated with cable theft are staggering. Telecom companies bear the expenses of repairing and replacing stolen cables, not to mention revenue losses incurred during service downtime. These costs ultimately trickle down to consumers in the form of higher service charges, creating an economic burden that reverberates throughout society.

    In 2022, mobile network operators spent more than N13billion repairing damages to fiber cuts and other telecommunication infrastructure. By 2023, this expenditure had surged to N27billion. Additionally, telecommunications sector operators experienced revenue declines totaling N12billion in both 2022 and 2023, primarily attributed to expenses related to customer compensation, site relocations, and investments in fiber resilience.

    Moreover, the impact of cable theft extends well beyond the immediate financial losses incurred by telecom companies. Disrupted communication services not only inconvenience customers but also disrupt vital operations for businesses, emergency services, and government agencies. Imagine a scenario where a critical call for help or a time-sensitive business transaction is thwarted due to a stolen cable—such disruptions can have far-reaching consequences.

    Furthermore, cable theft has a ripple effect on national economies. In an increasingly interconnected world reliant on seamless communication, any disruption in telecom services can impede productivity, disrupt supply chain, and dampen economic growth.

    Countries with high incidences of cable theft may find themselves at a competitive disadvantage, deterring foreign investments and innovation in telecommunications infrastructure.

    The blame game surrounding cable theft inevitably leads us to scrutinize the preparedness and responsibility of telecom companies, whose infrastructure forms the primary target for thieves. Despite being aware of the persistent threat posed by cable theft, telecom companies have been criticized for their perceived lack of adequate measures to deter and prevent such incidents.

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    One of the fundamental issues highlighted is the vulnerability of telecom infrastructure due to inadequate physical security measures. Many telecom cables are laid underground or strung along utility poles, making them accessible to determined thieves. The absence of robust barriers, alarms, or surveillance systems in vulnerable areas increases the risk of unauthorized access and theft.

    Moreover, the scale of telecom networks spanning vast geographical areas poses logistical challenges in monitoring and securing every inch of cable infrastructure effectively. Maintaining round-the-clock surveillance and rapid response capabilities across sprawling networks requires substantial investments in manpower and technology, which some telecom companies may deem cost-prohibitive.

    Furthermore, reliance on traditional security measures such as fences, locks, and periodic patrols may no longer suffice in deterring sophisticated theft syndicates equipped with advanced tools and techniques.

    Critics argue that while telecom companies prioritize customer acquisition and service expansion to remain competitive, investments in robust security infrastructure often take a back seat. This approach, focused more on addressing incidents after they occur rather than proactively preventing them, underscores the need for a paradigm shift in risk management strategies within the telecom industry.

    Another player in the blame game is law enforcement. Examining the role of law enforcement in addressing cable theft reveals a landscape filled with challenges and complexities.

    While law enforcement agencies are tasked with maintaining public safety and upholding the rule of law, their effectiveness in combating cable theft has often been called into question.

    One of the primary challenges faced by law enforcement agencies is the nature of cable theft operations. Unlike conventional crimes that may occur in plain sight or leave tangible evidence, cable theft often takes place in remote or unmonitored locations, most times, making detection and apprehension of perpetrators difficult.

    The transitory nature of cable theft exploiting legal loopholes further complicates law enforcement efforts. Coordinating investigations, sharing intelligence, and conducting seamless cross-border operations require robust collaboration and cooperation among law enforcement agencies at local and regional levels.

    Moreover, scrutinizing the loss incurred in cable theft, the prioritization of law enforcement resources towards high-profile crimes or immediate public safety concerns should not relegate cable theft investigations to lower priority status.

    Also, the complex and time-consuming nature of gathering evidence, conducting surveillance, and building cases against organized theft rings may not always align with the swift responses expected in more visible criminal activities.

    Another critical issue is the lack of specialized training and expertise within law enforcement agencies specifically tailored to combatting cable theft. Understanding the intricacies of telecom infrastructure, analyzing theft patterns, and deploying technological solutions require specialized knowledge and skills that may not be readily available across all law enforcement personnel.

    Also, the role of government emerges as a critical factor in addressing this pervasive problem when examining the blame game surrounding cable theft. Governments, through regulatory frameworks, law enforcement support, and infrastructure protection initiatives, wield significant influence in shaping the landscape for combating cable theft and safeguarding critical telecom infrastructure.

    One of the primary criticisms directed toward governments is the perceived lack of robust regulatory frameworks specifically targeting cable theft. While theft of telecom cables constitutes a significant economic crime with wide-ranging impacts, the absence of stringent laws and penalties tailored to deter such offenses undermines efforts to curb theft activities effectively.

    Furthermore, harmonizing regulations, establishing clear guidelines for infrastructure protection, and imposing severe penalties on offenders are imperative steps that governments must take to signal their seriousness in combating cable theft.

    Government agencies responsible for telecommunications oversight and infrastructure protection must collaborate closely with law enforcement counterparts to develop targeted strategies, share intelligence, and deploy resources effectively in combating cable theft. This collaborative approach can bridge gaps between regulatory compliance and law enforcement action, ensuring a more comprehensive response to the cable theft menace.

    Investments in technological solutions and innovation are also areas where governments can significantly contribute to mitigating cable theft risks. Supporting research and development efforts for tamper-proof cable designs, advanced surveillance systems, and data analytics tools can provide valuable tools for both industry stakeholders and law enforcement agencies in combating theft incidents.

    Beyond regulatory and enforcement aspects, governments must also prioritize public awareness campaigns and community engagement initiatives to mobilize citizen participation in reporting suspicious activities and safeguarding critical infrastructure. Empowering communities with knowledge about the impacts of cable theft and the importance of reporting incidents can create a collective vigilance that complements formal security measures. While creating awareness, a significant emphasis must be placed on the penalty for cable theft.

    In reflecting on the multifaceted challenges and responsibilities surrounding cable theft, it becomes evident that a collective and proactive approach is imperative to mitigate the issue. The blame game among telecom companies, law enforcement agencies, and governments must give way to collaborative strategies that address the root causes and consequences of cable theft comprehensively.

    To achieve lasting peace regarding the issue, it is crucial to address the aforementioned problems comprehensively while also giving due consideration to the recommendations provided because the high cost of cable theft underscores the urgent need for coordinated action and shared responsibility. The time for decisive and collaborative action against cable theft is now, and only through concerted efforts can we effectively combat this persistent threat.

    • Agaka, a tech journalist, writes from Kano.
  • Anticipating consumers to build great products

    Anticipating consumers to build great products

    • By Ayotunde Ushie

    If you had the opportunity to spend five minutes in the future and then return to the present, what would you do? I saw this question on Twitter the other day, and so many commenters talked about how different betting companies “would be ruined”; how they would memorise football match results from the future, and come back to place huge bets on the winning teams. I found the conversation funny, but not unrealistic, human beings have always had a fascination with knowing the future. United States residents spent over $2billion on psychic services (though this is not purely future/fortune telling) in 2022. If knowledge is power, knowledge of the future is probably a higher level of power. For example, in 2010, when Bitcoin was about $0.30, knowledge of the future would have enabled an investor to purchase $100 worth of Bitcoin then and sell for over $15,000,000 in 2022.

    The other reason I found the Twitter conversation interesting is because it somewhat describes an aspect of successful product development or invention; an understanding that the product or invention would adequately solve a consumer need, and that a significant number of consumers would find the product features compelling enough to adopt this invention as the solution to said need. This is not always as straightforward as it may seem. Sometimes, no obvious signs are in your favour. In 2010 when Steve Jobs introduced the original iPad, skepticism was high with critics dismissing it as ‘just a large iPhone.’ The stakes were high. In fact CNN reported how Apple shares fell 4% immediately after the unveiling, even investors were uncertain about the product.

    Yet, against all odds, the iPad ventured into niche sectors like medicine and aviation, leveraging specialised apps that thrived on its larger screen. The device started out selling about 300,000 units and grew to about 2 million iPads two months later as professionals found it indispensable – a game-changer in their toolbox. Subsequently, the iPad seamlessly integrated into our leisure time, transforming into the ultimate entertainment hub, redefining how we engage with media. The device has since gone on to sell more than 500 million units over the years since its release.

    It is important to note that the iPad critics were not wrong, they were just focused on the wrong signals. One of the cardinal rules of developing consumer insights is that overt signals can be misleading, or as they say in medicine, correlation is not causation. There truly was no obvious need for the iPad, no obvious reason for people who already had a smartphone or the option of a smartphone, to spend money on a larger device that does pretty much the same thing as one that fits into your pocket, but predicting consumer decisions based on purely overt signals is akin to judging a football team’s future performance solely by their position on the league table without considering other critical factors.

    Newcastle United FC owners learned this the hard way. In 2012, the team which had just come out of relegation, placed 5th on the league table. The management, driven by this performance, signed an 8-year contract with the coaching team, but it was a  case of outcome bias. A closer look would have revealed that while it was an impressive performance, the team’s match statistics were not consistent with this performance, and this became clear when they returned to 12th position in the next season, followed by uninspiring performance for the duration of the contract. If the management had a glimpse of the future, they would not have signed that contract.

    Unfortunately, while there are valid mathematical constructs that suggest the possibility of tachyons and by extension, time travel, they haven’t been proven so far. In addition, they violate causality and other fundamental rules of physics and as such, time travel is not currently possible. Predicting the future, however, does not break any rules of the universe. It takes skill and precision, but is very possible, and in reality, is what enables great product developers, inventors and founders to find their space in the market. Contrary to some beliefs, the goal is not to ask the consumers what they want or think they want. The goal is to understand consumer behaviour in relation to market shifts, then use that information to determine what a product or business should prioritise at what times.

    Read Also: Consumers lament declining electricity supply

    For example, prior to 2022, the convergence of multiple factors had been silently reshaping Africa and Nigeria’s financial terrain for over a decade; there’s the popular case of M-PESA in Kenyan urban and rural areas, proving that digital payment adoption is possible even in rural, uneducated communities. There was also the Central Bank of Nigeria’s cashless policy, which sought to increase digital spending. These and other factors drove growth in Africa’s FinTech sector growing at an annual rate of over 20% in the 10 years prior to 2022 and receiving various investments totalling over $500million in 2022 alone. COVID also acted as an accelerator, fast-tracking the adoption of digital transactions as more people sought contactless and remote payment options.

    Amidst this confluence of factors, most financial institutions realised that the market was shifting, but Opay, Moniepoint, and a few other fintech entities took it a step further, they realised that sales transactions (by extension, consumers and traders) would need two things in Nigeria’s digitised financial future: strong data infrastructure and instant transaction notifications. The latter, partly because micro and macro fraudsters had started leveraging the digitisation to perpetrate fraud.

    As such, when Naira notes became scarce towards the end of 2022 and there was a great dependence on digital payments, these players were positioned to handle the pressure, satisfy customers, and grow their customer base.

    In practice, a lot more data is analysed and a lot more nuance considered to develop relevant and actionable insights, but this is what empowers product developers, founders, marketers, etc. to not just follow the customer, but anticipate consumer needs before the consumer is even aware of their own needs.

    • Ushie is the founder of North Star Insights, a Research and Strategic Marketing firm which supports innovation and business growth across Africa. He wrote from ayotundeushie@gmail.com.
  • Ondo APC Primaries: Time for unity, grace in defeat not frivolous lawsuits

    Ondo APC Primaries: Time for unity, grace in defeat not frivolous lawsuits

    By Marindoti Oludare

    The aftermath of the APC primary elections, which saw Governor Lucky Orimisan Aiyedatiwa affirm his position as the party’s flag bearer, is a beautiful exercise in democracy. This is the first time in state history when all party members were allowed to choose their flag bearer in a free and fair manner. The recent lawsuit filed by Olusola Oke, challenging the election’s credibility, is not only regrettable but detracts from the democratic process that is fundamental to our political landscape.

    While it is understandable that Mr. Oke might feel disappointed by his shift from a frontrunner to a distant third in the race, his repeated electoral disappointments can be attributed to two major factors: one, he is just not “lucky”; two, he is strategically deficient.  Attributing his political fate to anything else misrepresents the nature of any democratic competition. At 69, Oke might view this election as potentially his last bid for governance, but it is vital to maintain perspective: electoral defeat is not a reflection of one’s entire career or should not damage his ego or diminish his self esteem.

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    Oke’s argument that the APC does not have the right to operate while its national chairman is suspended is a stretch of legal reasoning that borders on the absurd. Such legal gymnastics could indeed “twist a sane mind into pretzels,” as he attempts to equate procedural issues with existential legitimacy.

    Despite the fact that he serially lost all his elections, Oke should refrain from a path that leads to him being “lost.” He remains a significant figure in Ondo State’s political history, respected for his contributions and service. It is crucial at this juncture to remember the words of Winston Churchill: “Success is not final, failure is not fatal”. It is what Oke does henceforth that counts. This sentiment should resonate deeply with Oke, reminding him that his legacy will ultimately be defined by his actions in the face of adversity. Posterity is watching.

    Now is the time for reconciliation and unity within the APC ranks. The focus should be on healing divisions and rallying together to support the incumbent Governor Aiyedatiwa in his continued efforts to lead Ondo State towards prosperity and stability. The Aiyedatiwa camp extends a hand of fellowship to Mr. Oke, ready to welcome him back into the fold, should he choose to act in good faith.

    Oke has much to offer, and his experiences and insights remain valuable to the state. Instead of prolonging legal battles that serve little purpose but to fragment our party further, it would be wise for him to consider how he can contribute positively to the future of Ondo State. We implore Mr. Oke to take heart, seek the necessary psychological support and counseling, and return ready to work together for the greater good of our community.

    As we move forward, let us all remember that in unity there is strength. It is time to put aside differences and focus on the collective task of building a thriving, unified Ondo State.

    • Dr. Oludare, Director of Contacts and Engagements of Lucky Aiyedatiwa Campaign Organisation Foot Soldiers Independent Council (LACO-FSIC), writes from Texas, United States.

  • Before Minister David Umahi causes turmoil in Lagos

    Before Minister David Umahi causes turmoil in Lagos

    “The redesign of the Lagos-Calabar Coastal Highway’s original route, which initially included Water Corporation Road but now incorporates the coastal path affecting establishments like Landmark Beach Resort, is necessary to avoid demolishing the extensive infrastructure developed by original planners” – Minister Dave Umahi, probably, cleverly rationalising for ethnic purposes.

    David Nweze Umahi, Senator of the Federal Republic and former Governor of Ebonyi State, is no placeholder in the Tinubu Federal Executive council. A professional Engineer, and politician, who left an impressive record as governor of Ebonyi state, he is, everything considered, a star performer. What with the incredible road infrastructure he is building across the country?

    The Lagos – Calabar coastal highway, for instance,  ranks as a signature project of the Tinubu administration, one which is hoped would be completed on schedule, unlike the East – West road which, though started as far back  as 2006, is still ongoing with no known  completion date as  some politicians in that part of the country have turned it to a sinkhole for fraudulent personal enrichment.

    With regards to the Lagos – Calabar coastal road, a truly profound civil engineering project, however, I hasten to warn that the minister would have to be extra careful not to allow matters of consanguinity mar his impressive performance to date.

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    To help him rethink and maintain his credibility, I present below the views of a concerned Nigerian who believes that unlike the late Professor Dora Akunyili, of blessed memory, who worked her heart out  battling her own Igbo compatriots who thought nothing of inundating the country with beautifully packaged, but fake drugs from Asia, Engr Umahi already appears to be falling  prey to ethnic chauvinism.

    He seems  determined, it is alleged, to protect his compatriots who habitually  disobey land laws all over the country, especially in Lagos and the Federal capital territory, Abuja.

    Please come with me as I present the piece, captioned as in the article’s title above. It reads as follows:

    “The Minister of Works can be forgiven if he does not understand the history of the Yorubas of South West Nigeria. The children of Oduduwa who all migrated from Ile- Ife in addition to spreading into the thick forests, also ventured into the riverine areas spreading from Lagos through the Ogun waterside into Ilaje Ese Odo in Ondo state, just like their cousins- the itshekiri, into Warri.

    These places have for centuries been, and remain, their ancestral homes. This is a known fact  to all those who respect Yoruba history and their norms and culture. 

    In the wake of the announcement of the  Lagos – Calabar coastal road, Nigerians except, of course political opposition,  jumped up for joy at another President Tinubu’s masterpiece which is primed to open up the coastal economy. Afterall, he had himself, over 20years ago, as Lagos state governor, acquired the right of way for the road –  a road which his  government would most probably have  constructed but for  President Obasanjo’s antagonism to anything Tinubu.

    That right of way was dutifully marked and announced via newspaper adverts and handed over to the minister by the authorities in Lagos. However, rather than work with that, the  minister and his ministry birthed the present, absolutely unnecessary confusion.

    For decades, Lagos State did not issue certificate of occupancy and building approval to anyone to build on the right of way. Issues were, instead, simple and straightforward. But now, some chronic abusers of land laws who did not obey the right of way must have cried to the minister who then started shifting, and shifting, to save those who have built on the right of way – a shift that has started to cause massive confusion.

    Suddenly, he announced that there is a January 2024 Supreme Court judgement that granted the Federal Government a 250m right of way as if life and people did not exist on the shorelines before January 2024.  Pronto, he further announced that he has appropriated 200m of the 250m on the shoreline. Indeed, the shoreline of today was about 1km into the sea a couple of years back.

    Pray, the total extent and lay – back of the coastal road he plans to build is only 100m. What  then does he need the additional 100m he wishes to forcefully acquire from the Lukmans, the Ajayi’s and the other indigenous peoples for?

    The indigenous communities are willing, and prepared to hand him the 100m he needs but, no, minister Umahi must take everything.

    If this is not injustice,  what is?

    He said he was realigning the road to the shoreline and that he would take 200m, depriving over 75,000 indigenous Yoruba land and home owners of their ancestral land and homes. If he is interested in protecting the property of those who did not obey existing laws,  should this be at the expense of the ever considerate and accommodating indigenous community who offered him 100m for his road and rail? Must he set sight on the lush coastland on which some money miss road elite would then come round to build marinas? Or is he saying that the indigenous peoples should now relocate right into the Atlantic ocean? Can he ever attempt to do this  in the Niger- Delta area?

    To make matters worse, the minister announced on Friday 19th April, at a Press conference, that he would not pay compensation for 250m of the shoreline, meaning that  the indigenous communities at Alpha Shoreline, Lafiaji( Oceanbay) shoreline, Okun Ajah, Iwereko and others, should go and hang? 

    Is leadership not about compassion and care for the poor?

    A leader must know that it’s not everything that is legal that is moral.

    I call on Minister Umahi to allow the poor of our shorelines to breathe. Their land is not available to be shared by the rich.  He should, therefore, take 100m for the road and rail line  as it is in the alignment and drawings, and not an inch more!

    The poor in those areas are also Nigerians. Indeed to make matters worse,  in  places like Landmark, and other  areas where the rich  live,  the minister is, inexplainably, taking only 50m.

    So why is 100m not enough for him where the poor live, if the objective is not to forcefully, and arrogantly, appropriate the lands and homes of the poor?

    I know that this decision will, and should, not stand

    because the President is a compassionate leader who has demonstrated this again and again. Minister Umahi should build his coastal road but he should not appropriate the land of the poor. We will never stop shouting about this, and soon enough, he may be receiving summons from the courts, if he does not change his mind on the  issue.

    When Ashiwaju Tinubu built the Eko Atlantic, the precursor to the present coastal road, not a single citizen lost a single centimeter of shoreline land. Rather, the Atlantic was tamed, and all that was stolen by the sea for over 100years were recovered.

    One can only hope that this is not a coy attempt to turn  coastal Yorubas against President Tinubu , especially in Lagos state. To deprive ordinary citizens of their ancentral land, in what looks like a twentieth century land grab can,  definitely, not be the President’s intent in conceiving this masterpiece of a road. The Minister, should  kindly release the lands of the people of the Lafiaji( Oceanbay) beach, the Alpha Beech, the Okun Ajah beach,  the Iwerekun coastal areas etc.

    He needs 100m for the road and that he will have!”

    I believe there are enough facts here for the minister to ponder afresh and make necessary adjustments as the Tinubu government is known to have done in instances where Nigerians have voiced objections. It is statesmanship, not weakness.

  • Class Formation (III)

    Class Formation (III)

    From what is known about the British, their societal structure is arguably best described as a multi-layered cake, with each layer being also multi-layered. Each of the major layers is itself divided into sub-layers because of the divergent nature of the members of each class.

    At the top of the cake we have the upper class or as the famous British comedian, Mike Yarwood once  described it, the upper crust. It is made up of the ruling class, at the top of which is the Royal family. Even within this paper thin layer, you have, major Royals; those that are mentioned in the Succession list now headed by William, Prince of Wales who is waiting to occupy the throne when his father, the reigning king, joins his ancestors wherever it is they are waiting to meet up with him. His three children follow him on the list and in turn are followed by his brother, the reluctant prince, now on a rather extended and open ended sabbatical in faraway California. It is worth noting that both Prince William and his brother have trampled on centuries old royal traditions and are married to ladies outside the royal list. This is perhaps a sign of the deterioration of royal traditions or a sign of the times which has led to the royals everywhere including the archetype conservative stronghold of Japan marrying commoners. Prince Harry has not just married a commoner but married an American divorcee to boot and has dropped his royal status, at least for now, to be with her in her own world. When his great great-uncle, King Edward VIII tried to pull the same stunt in the antediluvian period of 1936, he was kicked off the throne in the twinkling of an eye. That the prince has been able to retain his royal position in spite of his marital adventures shows that the situation has changed so drastically since then, indicating that in reality, anything can happen from now on and the world should be bracing up for a seismic shift in royal relations. To be honest, the very idea of royalty, blue blood and all such pretentions are now being subjected to close scrutiny all over the world which shows that there is no guarantee that even the British royals, as solid as their current position appears to be,  may not be able to hang on to their exalted status very much longer.

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    Under the royal big hitters on the Succession list there are minor royals reaching down to those who are hanging on to royalty by the skin of their capped teeth. They also have a variety of blue blood running in their veins but their direct ancestors have somewhere along the line been bumped to the periphery, not totally out of sight but are not sure of being invited as of right to official royal occasions. All in all however, there are only a small number of people sitting comfortably in the upper crust. What really separates them from the rest is their tremendous financial clout, inherited over a thousand years from their Norman ancestors.

    After the royals come the members of the nobility; dukes, earls, viscounts and other descendants of those terrifying men that crossed over the English Channel to conquer England all those many years ago. They are not part of the royal establishment but the blueness of their blood is rich enough for them to furnish the royals with brides as was the case with Diana Spencer better known to the world as Diana, Princess of Wales and mother to both Princes William and Harry. Her overall tragic story is so well known that it bears no retelling here.

    Under the few thousand royals and other natural members of the ruling class, there are members of the middle classes, divided into three clear strata; the upper middle class which is separated from the lower middle middle class by yet another stratum . This stratum is separated from lower middle class, the members of which are sometimes indistinguishable from those in the working class, only a shade below them on the social register.

    The middle classes have evolved over several centuries, the  process gathering pace after the divine rights of the king were quite definitively abrogated by the execution of King Charles I by Parliament in 1649. The king, pumped up by the heady air of royal prerogative had challenged parliament to a fight and not only lost the argument but lost his royal head as well. The kingdom was thus set on the path of constitutional monarchy which stripped king and his descendants of the divine right which had dictated their actions since they began their occupation of the throne of England in 1066. The  bloody coup which led to this situation was carried out mainly by those members of the ruling class who had over a few centuries dropped out of the ruling class through the workings of the tradition of primogeniture which was prevalent and unbreakable at the time. Only the oldest living son could inherit their father’s estate no matter how vast they were. This meant that all other sons had to go out into the wicked world to fend for themselves as best they could. Many of them ended up in the emerging middle class with a great deal of the privileges they were born with but with little money. This middle class came fully into her own in the period after the Industrial Revolution when people flocked into the cities after fleeing, some of them precipitously from the countryside which had become a wasteland of opportunities to make any kind of living. This situation also gave rise to the arrival of the urban working class which needed to be serviced by professionals; builders, industrialists, commercial tailors and dressmakers, engineers, tradesmen, manufacturers of various goods, doctors, teachers, entertainers, printers, entrepreneurs including bankers and other such people with acquired skills with which to minister to the various needs of the great multitude of workers infesting the urban spaces. In the countryside, these people had some form of access to materials from which they could produce some of the materials, many of them quite basic, with which they could build a kind of life. This was not possible in the visibly expanding cities where it was everyman for himself and the devil waiting to consume most of the others at his leisure. Life for the vast majority of those who had no special skills was between bleak and unsupportable, to the extent that without some form of societal support, they would have been totally crushed under the heel of poverty.

    The poor had always had a pretty torrid time in England. Apart from the fact that wages they received for their labour were very low, they were subject to heavy taxes most of which were raised to pay for the expenses incurred by successive English kings whose faces were for a hundred years fixed on different parts of France to which the they laid fanciful claims. Quite unlike their ancestors who had crossed over from France to plunder England, they could not manage the reverse feat of taking over French territory but persisted in their folly, to the detriment of their subjects who were consequently, constantly mired in debilitating poverty which they passed on to many succeeding generations.

    Without the expertise which resided in the British middle classes, it is very unlikely that the Industrial Revolution would have occurred. All those people from Harvey to Bacon, Newton, right down to Davy, Faraday and Darwin created, or supported the foundation on which the modern world has come to be built and they were all paid up members of a solid British middle class. Not a single one of these men has left a legacy of stupendous wealth behind and have set the tone for what is expected of members of this class. Right down until now,  the members of this class are expected to be, and are frequently found to be honest, hard working, studious, dedicated to service, patriotic and not given to scandalous behaviour. Not for them is the amorally of the upper crust and the immorality associated with too many members of the working class to whom it has to be said, not much has been given. The distance between the lower middle class and the working class is not about money or the lack of it but about taste and ambitions. Perhaps the clearest distinguishing feature between these two groups is education which is taken very seriously by people in the middle classes. The members of the working class, at least since the end of the Second World War have come to realise the importance of an education which would take them out of the working class. Still, you will find out that the movers and shakers, especially in British politics are descended from people who have been bona fide members of the middle class for more than a generation. There are many members of the working class who are comfortably richer than those above them in the middle but lack the social graces which promote them into the middle class. This may have blurred the distinction between the lower reaches of the middle class and the working class but those distinctions still exist. This is because many working class wages match those in the middle class but where they fall down is in the quality of their life style. That cannot be bought at any price. Perhaps the last word that needs to be said on the subject of the members of the middle class is that although they may not be wealthy, they are, with only a few exceptions, financially secure, with adequate salaries, a substantial portion of which can be saved to give them a comfortable retirement. Any country without a financially secure middle class is a sorry caricature of a modern state. This is because without the wall of financial security around the middle classes their much vaunted   morality will collapse like a house of cards.

    To be continue

  • World Intellectual Property Day

    World Intellectual Property Day

    Friday, 26 April, was the World Intellectual Property Day 2024. With regard to the Day, the World Intellectual Property Organization (WIPO) website states: “World Intellectual Property Day offers a unique opportunity to join with others around the globe to consider how intellectual property (IP) helps the global arts scene to flourish and enables the technological innovation that drives human progress. The campaign is also an opportunity to highlight the role that IP rights, such as, patents, trademarks, industrial designs, copyright, play in encouraging innovation and creativity. … IP rights enable researchers, inventors, businesses, designers, artists and others to legally protect their innovative and creative outputs and secure an economic return from them.”

    According to daysoftheyear.com, “the idea for World Intellectual Property Day got its start in 1988 when it was proposed by the National Algerian Institute for Industrial Property as part of the World Intellectual Property Organization (WIPO).” However, it was slow to gain traction. In 1999, China proposed to the General Assembly of WIPO that 26 April on which WIPO was created in 1970 be chosen as the World Intellectual Property Day and be celebrated from 2000 which was the 30th anniversary of the United Nations agency. These were approved and adopted. 

    In his 2024 commemorative speech, the WIPO Director General, Daren Tang, said: “Throughout history, when faced with challenges, it has been human ingenuity, ideas and innovation that has allowed us to overcome and succeed. … From electric vehicles to lifesaving drugs, clean and green tech, to AI and digital technologies – IP can be the vehicle to turn bold new ideas into real world impact. … and build a better world for all.”

    In continuation of the commemoration of the Day, this column today features an interview with Professor Grace Ogunlusi of Obafemi Awolowo University (OAU), Ile-Ife. In it, she shares her views on different aspects of IP, as

    Nuances: Good day, Prof. Could you tell us a little about yourself?

    Ogunlusi: My name is Grace Olufunmilayo Ogunlusi, a Professor of Chemistry at OAU. I am currently serving the University as Director of the Intellectual Property and Technology Transfer Office (IPTTO) which is a unit under the Central Office of Research.

    Nuances: What is the key significance of the World IP Day?

    Ogunlusi: The World IP Day is set aside to sensitise people to the critical role that IP plays in innovation and development across the world. It is a day dedicated to showcase the importance and significance of IP in every area of human endeavour. The vast benefits of the IP system in protecting creativity, providing support for creatives and creating unlimited access to innovations globally are seen all around us. What we utilise daily to enhance human lives and ensure economic development, e.g. phones, watches, shoes, clothes, laptops, cars, etc., contain several patents, trademarks, industrial designs and copyrights that are protected and promoted by the IP system. The theme for this year’s World IP day is “IP and the SDGs: Building our Common Future with Innovation and Creativity”, and is central to all events and programmes across the world on Friday, 26 April, 2024, and possibly beyond, as we celebrate the World IP Day.

    Nuances: How does OAU relate to this Day?

    Ogunlusi: The most significant index of OAU’s relationship with the IP Day is the establishment of the Intellectual Property and Technology Transfer Office (IPTTO) in the University. This office is responsible for the general IP assets management in OAU. The office, from its inception in 2006, has been celebrating the World IP Day yearly, through several programmes and activities geared towards increasing awareness about IP in the university community. The office aligns her programmes with WIPO’s team for each year and organises educative and informative activities to create the platform for interaction on issues relating to IP and its importance in research, innovation and development. In some of the previous World IP Day celebrations in OAU, the office gave awards of Excellent Performance in Research (EPR) to patentees in the University in a bid to further motivate them and also encourage other researchers to pay more attention to the IP components of their research in order to make their research products commercialisable.

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    This year, IPTTO hosted a virtual event in collaboration with the Patent Information Centres (PATLIBs) Network of the European Patent Office (EPO) where we had two lectures as follows: “From Ideas to Impact: The Interplay between Creativity, IP and Sustainable Development” and “Digital Economy and the SDGs: Opportunities for the Nigerian Youths?” This event was thought-provoking and enriching. Participants were exposed to vital and beneficial information that can challenge them to be solution providers through the utilisation of the IP system for their creative and innovative activities.

    Nuances: What efforts are being made to propagate information about World IP Day 2024, in particular, and IP, in general?

    Ogunlusi: IPTTO has extensively utilised the internet to advertise this year’s World IP Day and the response in terms of registration was encouraging. The OAUnet, Whatsapp, Linkedln and email platforms have been utilised to spread the news about this year’s World IP Day event in OAU. The office has also engaged the Law IP Club, which is the students arm, to spread the event among students in the University. As part of the effort to propagate information on IP, IPTTO in February this year hosted an intensive and very successful 3-day Research Commercialisation and Acceleration Programme (RECAP) training for selected researchers, postgraduate students and senior academics in OAU. Some participants from 3 other universities and research centres in Osun and Ondo States also participated in the event. This was part of the efforts to equip researchers with the relevant skills they need to engage in innovative research and utilise the IP system to enhance their research activities as well as commercialise their research outputs. Among other activities, we have also implemented a weekly IP advocacy programme to provide IP knowledge to the university community through the OAUNet platform.

    Nuances: Are there plans to mainstream University’s curriculum IP issues in the?

    Ogunlusi: IPTTO has already designed an IP training material for the Institute for Entrepreneurship and Development Studies (IFEDS) at OAU. The material is used by the Centre to train students on IP as one of the elective courses in the university. Efforts are ongoing by the Central Office of Research (COR) through the IP Asset Committee to ensure that IP is further mainstreamed in the curriculum of the University in the nearest future.

    Nuances: In recent times, there have controversies about the minimum input that can entitle a person to make patent or copyright claims on a product. Could you give your perspective on this?

    Ogunlusi: Some of us are doing great things that appear little to us but can transform our society and economy. If one person has done one thing and a second person subsequently does the same thing in a better way, the second person has the Intellectual Property Right to the modified product and can safely commercialise it on the basis of the new features.

    Copyright authorship and ownership are also clearly stated in the Nigerian Copyright Act, 2022. Section 5 states as follows: “5. Copyright shall be conferred by this section on every work that is eligible, where the author or in the case of a work of joint authorship, any of the authors is at the time when the work or a substantial part made is – (a) an individual who is a Nigerian citizen or is habitually resident in Nigeria; or (b) a body corporate incorporated by or under the laws of Nigeria.”

    Moreover, section 29 states as follows: ”29. Except as otherwise provided by agreement – (a) copyright in a collective work shall vest in the person on whose initiative or direction the work was created; and (b) the authors of the works incorporated in a collective work shall have the right to exploit their works independent of the right in the collective work.”

    From the above provisions, authorship in a joint work is based on a substantive contribution from each member of the team. To resolve any controversy on the issue of authorship and ownership in a jointly copyrighted work, there should be a written agreement where all parties in the jointly copyrighted work agree to the terms that determine the authorship and ownership of their copyrighted work in line with the provisions of relevant copyright laws.

    Nuances: What plans are there to extend enlightenment efforts to communities outside the University?

    Ogunlusi: We are already reaching out to people outside the University. We were on Great FM (OAU’s Radio Station) and aired discussions around IP for the community for 2 days as part of the activities to mark the World IP Day 2023. The virtual version of the sensitisation programmes of IPTTO has always attracted participants beyond the walls of the University. As mentioned earlier, the RECAP training organised by IPTTO in February 2024 had 22 participants from outside OAU. We will continue to reach out to communities outside the University through the virtual programmes one of which took place on Friday, 26 April, to celebrate this year’s World IP Day. Physically taking IP enlightenment programmes to communities outside the University as part of our town-and-gown initiatives could also be undertaken as resources become available.

    Nuances: What can we expect from the IPTTO between now and World IP Day 2025?

    Ogunlusi: There will be more IP training programmes such as the RECAP, IP advocacy and outreaches to faculties to sensitise researchers on the important roles of IP in research. We will continue to provide support services to researchers in obtaining protection for their inventions and also to the IP Law Club (students) to implement their various activities. We are also pursuing the commercialisation of some of the patented inventions in the University and, hopefully, we will be able to achieve success in this area before the World IP Day 2025.

    Nuances: Do you have any parting words for us, Prof?

    Ogunlusi: It is important to know that the IP system provides numerous opportunities to access innovations across the world that we can learn from, adapt and utilise in addressing our indigenous problems as a nation. We have the large and ready market that has the capacity to absorb our indigenous solutions to challenges and the IP system is a readily available companion to provide necessary support for innovations across different fields. In addition, commercialisation of innovations will yield financial benefits to the innovators, generate income for our institutions and lead to societal development. I will like to end by saying, in all we do, let us think innovation and think IP. Thank you.

    • Nuances: Thank you for your time.

  • A DisCo can be run profitably, efficiently

    A DisCo can be run profitably, efficiently

    By Tinuade Sanda

    When I assumed the role of MD/CEO at Eko Electricity Distribution Company (EKEDC) in 2022, I faced significant hurdles, including ATC&C losses at 29.87% and CE at 82.69%. With my team’s support and dedication, we began addressing these challenges, striving for operational improvements. Over time, we made notable progress, reducing ATC&C losses to 1% and improving CE to 99.25% by March 2024.

    Similarly, EKEDC achieved its highest-ever monthly collection of N17.1 billion in January 2024, highlighting our financial acumen and strategic vision. It is noteworthy that these achievements were recorded without the need for a tariff increase. Our focus on operational efficiency led to the lowest-ever energy leakage blocked (ATC&C) losses, highlighting our commitment to excellence. In this time, we also launched the fast-delivery mass metering program (Mobile MAP Initiative) under 72 hours, resulting in the delivery of over 80,832 meters. This further demonstrates our dedication to enhancing our customer service and satisfaction.

    Upon assuming office, I inherited substantial loans and over N3.6b owed vendors for goods and services already rendered. This exacerbated the company’s liquidity challenges, but I took on the responsibility to address these debts. They included a CBN Meter loan amounting to N4,693,706,837.72, a CBN operating expenditure (OPEX) Ramp Up Loan totaling N29,525,442,959.40, and a CBN capital expenditure (CAPEX) loan of N14,487,447,715, all of which were originally intended for capital projects that were later abandoned. Although much of the loan disbursed had little economic value to EKEDC, I urged my team to stay focused and resilient, as we oversaw the repayment of these loans, taking decisive steps to alleviate the financial strain on the company.

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    Despite the challenges I encountered, one of my first impactful decisions was to raise staff salaries by 25%. This was a significant move as it was the first increase of this magnitude in over a decade at Eko Electricity Distribution Company (EKEDC). This action was taken while we kept operational expenses in check and expanded our fleet by 150 new vehicles, enhancing our capacity to respond to service calls more efficiently.

    To achieve my vision of a unique corporate identity grounded in local context, I designed a comprehensive engagement strategy that reflected my dedication to corporate leadership and stakeholder growth. This involved restructuring customer and community interactions, establishing a 24/7 rapid response squad to expedite fault resolution, implementing strategies to improve brand positioning and service delivery, and creating inclusive, impactful, and sustainable Corporate Social Responsibility programs. These initiatives were part of our innovation-driven approach, that led to exceptional outcomes and a surge of activities focused on fostering positive change.

    Furthermore, Eko Electricity Distribution Company (EKEDC) achieved ISO 27001 certification, highlighting our commitment to data protection and security. Our partnership with VI Power enabled us to boost power supply to customers on the Island, demonstrating our dedication to customer satisfaction. Our strategic investments in infrastructure, including the acquisition of Statistical Meters to monitor all existing feeders, have significantly reduced losses and enhanced operational efficiency. This approach translated into a 99.2% complaint resolution rate year-to-date in 2024.

    I came to EKEDC with a clear focus on zero tolerance for mediocrity and corruption, emphasizing the pursuit of excellence that has shaped my leadership style. To align everyone with our vision, I prioritized effective communication among all stakeholders. This commitment led to EKEDC ranking 1st in market remittance for Q3, 2023, a notable rise from 3rd place in the previous quarter.

    My achievements have been acknowledged with several prestigious awards, including The Peak Performer CEO Of the Year (2023) and Vanguard’s Energy Icon of the Year, (2023). Additionally, the Nigeria House of Dream Parliament recognized me as the most proactive female personality in the power sector of Nigeria (2023). Additionally, and most prestigiously, I served as a member of the power committee set up by the Presidency, under the RENEWED HOPE AGENDA of His Excellency, President Bola Ahmed Tinubu.

    Similarly, before my appointment as MD EKEDC, I have been honored with numerous prestigious awards, which highlight my dedication to excellence, accountability, and innovation in the power sector. Some notable recognitions include the USAID Certificate of Achievement for my ongoing partnership with the USAID Engendering Industries Intensive Program since 2015, the NECA Employers Excellence Award Winner in the Electricity Distribution Sector for 2021, the AFRISAFE CEO Of the Year in 2022, and the African Prize for Leadership Excellence: Power Personality Leadership Prize in 2017. I also received the Eko Electricity Distribution Company MD/CEO Executive Award in 2018 for “being on time every time.” Most recently, I was awarded the Distribution Company (Disco) of the Year 2023 by the Energy Times.

    While rumours have been circulating, alleging that my appointment as MD/CEO had been terminated due to poor performance, I want to clarify that this is a misrepresentation and not the accurate feedback on our performance. In fact, I have consistently received accolades from the board, recognizing my leadership and my management team’s strong performance.

    For instance, on March 6, 2024, I received commendations from the Chairman, Human Resources & Corporate Services, Tunji Owolafe, following my correspondence about EKEDC’s compliance with market obligations, where he praised the performance of my team. He wrote in an email, “Dear MD, this is very good news, congratulations and well done to you and your team.”  I had previously received similar accolades from Dr. Tunji Owolafe and the Board Chairman, Dere Otubu, on December 5th and 6th, 2023, for our strong November performance He wrote, “Congratulations to you and your team for thegood performance in November”. These emails are available as evidence of the positive feedback I have received.

    What started as an investigation to address fraud and complicity in ghost worker activities by 3 of our executive management team has now escalated into cyberbullying and slanderous attacks against my person. Rather than addressing the actual issue, there is an effort to distract by spreading unfounded rumors. I believe that ethical journalism should be based on the principles of truth, objectivity, and fairness, rather than fallacies that are solely based on rumors and propaganda. Hence, a need to clarify this situation and counter all false claims against me.

    I want to state that I have served diligently and efficiently at EKEDC with the utmost integrity and worked to sanitize the system for optimal productivity and quality service delivery. I have also worked to enhance the assets and net worth of our stakeholders with transparency, integrity, and fairness, and consistently acted in the best interests of EKEDC and all its stakeholders.

    I remain committed to upholding the values that have guided my leadership. I thank everyone who has supported me throughout this journey, and I look forward to continuing to serve with the same dedication and professionalism that has defined my career.

    • Dr. Sanda was MD/CEO Eko Electricity Distribution Company (EKEDC)
  • The currency of hope

    The currency of hope

    By Ronke Bello

    Without doubt, Nigerians are religious and that in itself is great. After all, faith is hope’s greatest ally and with both, anything (good) is possible; that’s why a deep thinker once described the interdependency of both great virtues in this way: “Hope is praying for rain, but faith is bringing an umbrella.”

    Napoleon Bonaparte’s famous words, “Leaders are dealers in hope,” remain as relevant as ever especially as amplified by our President, His Excellency Bola Ahmed Tinubu, the protagonist of the “Renewed Hope Agenda” who recently at a meeting with Corporate Nigeria gave one of the strongest hope sermons of modern age when he asserted that, “The renewed hope agenda is alive and well, for without hope there is no development. Without hope there is no life and without hope there is no salvation.”

    Gone were the days when silence was active and passive at the same time, which left citizens more confused. To be effective in this current age, leaders must understand that instilling hope in their teams and citizens can lead to increased motivation, a willingness to tackle challenging tasks, and ultimately, success. Hence, despite the tough time our nation is going through with our administration working ceaselessly to resolve the multifaceted challenges, one thing we can’t take away from the current leader is that he is engaging the people directly and in real time.

    The President has said repeatedly that he came prepared and needs the cooperation of all to move us forward and towards that egalitarian society Nigerians deserve; and true to his words, on policy formulation and implementation, we have witnessed the handlers of the economy initiate fast acting policies that have been able to strengthen our Naira, a good development from the scary free fall it was experiencing.

    Our hope is to see all other agencies of markets, the consumer protection board, etc. arise to their duties as Nigerians already believe that ours is where whatever (prices) goes up never comes down. It will be good to see prices of foodstuffs, petroleum products and other crucial commodities return to the reach of average Nigerians. Yes, there are still challenges in some areas, especially insecurity, for only people who are alive can be hopeful. But we trust that all is being done to return our country to a secured and peaceful nation. This presidency is busy, the president is busy and hope is gradually (even though suspiciously) being renewed in the people.

    The MDAs seem rejigged as programs, events and statements are issued daily, while Nigerians have also come alive by being partners and participants in how they are governed. An instance was the uproar that greeted the new electricity tariff. A policy still being debated and analyzed while Nigerians on Band A are literary counting the promised 20 hours electricity supply, which I doubt any household has enjoyed since April 1st when the policy was introduced. The policy hopefully was thought out; its implementation should now match that.

    We have moved from the “God dey” or “Suffering and smiling” era as coined by the late pan-Africanist and globally acclaimed Afrobeat maestro, Fela Aníkúlápó Kútì. Today Nigerians have become emboldened by the renewal of hope. They ask questions, they demand answers and leaders of various MDAs are now daily on multiple media programs explaining and seeking buy-in for their agencies’ policies. Gone were those days that as young broadcast journalists, we pursued government officials and even trip over on long wired microphones and all one got was, “We don’t talk to the press”. Suddenly and helpfully, communication has become the art of governance and in real time. Indeed, it is a new day.

    In addition to heads of the MDAs, another Nigerian I would like to salute at this point is Nigeria’s First Lady, H. E. Sen. Oluremi Tinubu  (CON). Apart from having hit the ground running with various programmes, especially the Renewed Hope Initiative (RHI) aimed at uplifting Nigerian women, youths and children, she has also remained very visible and vocal in giving the much needed assurance of hope.

    As the first year anniversary of the Tinubu administration beckons, it will be a good place to evaluate how well the government has performed in all areas while receiving a feedback in what has now finally become a participatory democracy. Apart from the traditional broadcast by the President and other social programs (which most times are elitist), it will be good to see well planned various debates, town hall meetings and briefings where the led can interact directly with leaders. After all, leadership and governance is all about the people, for “a leader without followers is only taking a walk” as John Maxwell says.

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    Those of us that worked hard as members of the campaign team that brought this government into place should also pat ourselves on the back. Hope was ours to market, and we are eternally grateful to our voters. This hope we must sustain as the government journeys forward.

    With due respect to a section of my people in the North, hope might be failing as encapsulated in the 2027 call by some respected leaders. Dr. Bello Matawalle, a true northern leader in every sense as former Governor of Zamfara State and Minister in the present dispensation, immediately and rightly lashed out and even issued a wake-up call to all appointees from the North in the Tinubu administration to defend the government. I think he needs to repeat that directive or suggestion often, because 2027 shall come, God willing, and we shall by God’s grace be here.

    In conclusion, I agree with a popular saying that “Words should be weighed, not counted.”  As such, no matter how little that whisper is or how premature the issue seems, a leader’s ear must ring with the voice of the people. Nigeria is a great nation and the people a blessed people, our leaders simply need to keep riding the storms, while bringing out the ingenuity and can-do spirit in the citizens; as these will give and establish hope – not just as a mantra, but as an act that through good governance can be seen, felt and touched.

    • Bello, Ph.D., an academic, publicist, policy analyst and author, writes from Abuja.
  • Benefits of Lagos-Calabar coastal highway

    Benefits of Lagos-Calabar coastal highway

    • By Orji Uchenna Orji

    The trending posts of criticisms by some notable politicians on the propriety and priority of the Lagos-Calabar coastal highway project being executed by the Renewed Hope administration of His Excellency, President Asiwaju Bola Ahmed Tinubu, GCFR, are no doubt baseless thoughts of critics who are either bereft of the knowledge of the workings of the project initiative or they deliberately want to sacrifice the modest developmental efforts of Mr. President on the altar of their political ambitions. It is unthinkable that such highly placed people fail to understand the various elucidations provided by the Honourable Minister of Works, His Excellency, Sen. Engr Nweze David Umahi, CON, on when the project was conceptualized, the various administrations that attempted but failed to carry out the project, the economic and technical considerations that gave rise to the commencement of the project under the Renewed Hope administration, the funding and procurement details and indeed the dimensions, importance, priority and propriety of the projects in the national developmental trajectory.

    For avoidance of doubt, the Lagos- Calabar coastal highway project is being done under EPC +F. What does this type of funding entail? This is a project financing mechanism in which EPC+F contractors also arrange financing for the project. EPC+F is Engineering, Procurement and Construction plus Financing. Engineering here includes design and specification. This initiative provides a fixed price, fixed date, and transfers risks to the contractor. This type of funding requires only a counterpart funding from the Federal Government. Such funds are sourced by contractors where they have confidence in the economic policies of government, which essentially entails allowing the participation of the private sector in the road infrastructure development through PPP or EPC+F. 

    During the recent Inauguration of the Committee on Compensation of owners of properties that will be affected by section 1 of the Lagos- Calabar Coastal Highway, the Honourable Minister emphasized the nature of the project funding and the workings of EPC + F when he said, “And graciously, Mr. President had approved that this section three will start from Calabar, which is the end point of the project, and start running towards Akwa Ibom. So, the 700 km is procured under phase one, in phases, and it’s EPC +F. EPC+F is engineering, procurement, construction, and finance. And so, under this kind of arrangement, the contractor is expected to bring in a certain amount of money, and Federal Government is expected to pay certain counterpart funding.”

    Read Also: Lagos-Calabar coastal highway gets compensation panel

    No patriotic Nigerian should discourage this kind of project where funding is substantially from the contractor. There is no doubt that Mr. President is aggressively tackling the backlogs of uncompleted road projects. In the 2023 Supplementary Budget, Mr. President approved funds for intervention on the over 260 dilapidated roads nationwide. The 2024 appropriation made provision for capital investment on our critical roads across the 6 geo-political zones of Nigeria. The Honourable Minister has already made a great difference in the road infrastructure development roadmap of this administration through his new innovations on road construction and rehabilitation, his power of supervision, and his contract negotiation power which is second to none in the history of the Federal Ministry of Works. He has been touring around and supervising the various ongoing projects of the Federal Government, and the difference is already there. The people are testifying of the quality and speed of road projects being executed by the Renewed Hope administration. He has proven track records on road infrastructure development. He is not into rhetoric like many politicians who talk high but can do only less. The administration of President Tinubu is doing roads that will stand the test of time. The roads he is fixing will facilitate economic recovery. The patriotic Nigerians are already applauding the good efforts of Mr. President, but professional politicians are busy criticizing a landmark project that will launch Nigeria into the league of the best economies on the continent.

    On the importance of the Lagos-Calabar coastal highway project to the economy of the nation, it is clear that the coastal highway, when completed, will foster national economic growth. Notably, all roads in the country are important as reflected by the interventions of this administration on road rehabilitation across the nation, but the coastal highway offers much more economic benefits to the nation because of its connectivity to the North and South through the existing spurs. The road, when completed, has the potential to increase Nigeria’s GDP and trigger industrialisation, create trade, enhance the transportation of goods and services, and safety of road users. The road is going to be the biggest super highway in Africa in terms of the structure and solidity as well as utility value, having ten lanes with a rail track designed for concrete technology, covering 700 kilometers. It is going to attract foreign direct investment to Nigeria, and it is going to trigger economic development. It is going to develop the potential of our coastal businesses, especially at the local economic corridors, and boost tourism and marine businesses.

    • Orji is Special Adviser( Media) to the Honourable Minister of Works