The Nation Newspaper

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  • Leadership and Lagos’ resilience city status

    Another milestone was recently recorded in Lagos State’s quest to build a globally competitive state as the governor, Akinwunmi Ambode received the certificate that admitted the state as one of the 100 Resilient Cities (100RC) in the world. Aside being a remarkable accomplishment, the feat is a further affirmation that recent strides of the current administration in the socio-economic transformation of the state across all sectors have not gone unnoticed. It is a common knowledge that, in the current political dispensation, Lagos has become a reference point when it comes to initiating and executing pacesetting innovative and strategic policies and programmes that are meant to uplift the living standard of the people.

    Since, the world has become a global village, the world could not but recognize the modest efforts of succeeding administrations in the state towards turning the city state around. Such recognitions have come from diverse globally recognized platforms and in varied forms, the latest of which is the admission into the league of 100 RC of the world. The 100RC initiative, which was established by the Rockefeller Foundation, is no doubt a starting point and an optimistic enterprise that would help the state address its salient developmental challenges.

    This much was revealed  at the 100 RC admittance event by Governor Ambode when he asserted that: “In spite of the challenges faced by the state in vital areas such as flooding, environmental degradation, public  transportation, security, unemployment, strain on existing  physical and social infrastructure, slums and a massive housing shortfall, Lagos remained resilient, dynamic and forward looking”.  While drawing attention to the intention of his administration to make every community in Lagos economically habitable to curtail rural-urban migration, the governor disclosed that conscious plans have been initiated to deal with most of the key challenges confronting the state.

    Urban resilience is the capacity of individuals, communities, institutions, businesses, and systems within a city to survive, adapt, and grow no matter what kinds of chronic stresses and acute shocks they experience. And it is undoubtedly a great honour that Lagos made the list of 100 such cities in the entire world. It needs to be stressed that only 11 of such cities are worthy of such recognition in Africa. Common indices used in identifying resilient cities include chronic stresses which weaken the fabric of a city on a daily basis, acute shocks which represent sharp events as flooding, outbreak of diseases and other such natural disasters  which threaten a city’s resilience to withstand, respond to, and adapt more readily to shocks and stresses.

    Others include being reflective which helps in using past experience to inform future decisions, resourcefulness which enables them to identify alternative ways to effectively use resources and flexibility which refers to willingness and ability to adopt alternative strategies in response to changing circumstances. Another vital indicator of resilient cities is inclusiveness which bothers on prioritizing broad consultation to create a sense of shared ownership in decision making.

    It is crucial to affirm that the innovative and visionary leadership which Lagos has benefited immensely from in the last few years play decisive role in launching the state into global reckoning. President of 100 RC, Michael Berkowitz authenticated this stand when he stated that out of the over 1,000 applications received and three rounds of selection process, Lagos was chosen for its innovative leadership, infrastructural strides and influential status not just in Africa but in the world.

    It is actually in the area of innovative leadership and infrastructural strides that Governor Ambode has predominantly warmed himself into global reckoning as an insightful leader. Not many actually gave him much chance of success when he was given the mandate of his party in 2015. Today, barely 18 months after, his administration has invested incredible vision, innovation, time, energy and resources in setting the pace for good governance in the country.

    Without doubt, the Ambode administration has positively transformed the profile of Lagos State. That Lagos is now a liveable city is being reinforced not by rhetoric and gimmick but with tangible developmental and infrastructural renewal projects that have won applause from all and sundry. From Ajah to Ojodu-Berger, from Epe to Ikorodu, from Abule- Egba to Oshodi, from Surulere to Lagos Island and all across the state, the face of Lagos is changing fast and for good.

    As a visionary leader, Ambode has attained a reputation that embodies qualities such as technocratic competence, commitment to results and above all integrity which Nigerians often complain are lacking in their leaders.  Detectable achievements in terms of construction of roads and bridges, environmental regeneration, employment generation, tourism and entertainment development, sports development, healthcare delivery, youth empowerment through T.H.E.S.E. which is an acronym for Tourism, Hospitality, Entertainment and Sporting Excellence, upgrading of public infrastructure, among others, have created a sense of relief among Lagosians that they have a government that is proficient in delivering enduring legacy projects.

    With the success of the various inventive strategies that were evolved to promote public security in the state, business atmosphere has become predictable and gratifying. Thus, the state now plays host to local and foreign investors who continue to provide the necessary impetus for economic growth. The various commitments by these investors are already yielding dividends in terms of creation of job opportunities. The governor further demonstrated his administration’s desire for job creation and poverty eradication, when cheques worth over N1 billion were recently presented to 705 beneficiaries from the state’s Employment Trust Fund with a charge from Governor Ambode for them to create more jobs, thereby contributing to the growth of the state’s economy.

    For any government that worth its salt, innovation is an essential component of governance. Aside being an indispensable device of governance, innovation is a continuous process as it has no finishing line. This is why the state government is taking on a foremost position in advancing science, technology and modernization as nucleus policy areas that not only hold the key to the state’s future, but could also make it one of Africa’s most productive hubs.

    Hence, the Lagos State government is continuously thinking outside the box to improve the lots of the people as evident in the institution of a N25 billion Employment Trust Fund, institution of Disability Trust Fund, production of LAKE Rice, provision and sustenance of street lights across the state, ingenuous tackling of traffic gridlocks across the state among countless others.

    This is what democracy is all about. This is what the people deserve and with the Ambode-led government, they won’t get anything less!

     

    • Adeyemi is Permanent Secretary, Lagos State Ministry of Information & Strategy.
  • Innocent Oparadike: A rare gem in courage and patriotism

    Innocent Oparadike: A rare gem in courage and patriotism

    The death penultimate week of one of Nigeria’s veteran journalists and nationalist is one sad chapter of Nigeria’s precious loses

    In the parlance of Journalism, a forte late Chief Innocent Oparadike held sway until he breathed his last two weeks ago, what his sudden exit from the social space amounted to is called ‘stop Press’. This happens when a very topical news event thrusts up at the heel of production, when the paper is just in the middle of press or is just a blink of an eye to pressing hall. In the broadcast media, it is just when the newscaster has rehearsed every line or is already casting news, and the producer just smuggles in that script mid-way. It just flabbergasts. You must have been an expert newscaster or production man to accommodate flawlessly that sudden-ness. That is just how the sudden demise of Sir Innocent Oparadike, Chinyereugo I of Umuorie, in Mbaitoli Ikeduru LGA, Imo state threw the Nigerian media and social space when the news broke. Not only media practioners were troubled by the thought that the good man would not be around again, but also news makers, politicians, policy-makers, religious leaders, students, numerous towns unions men and women and other distant peoples whose lives he has touched were shocked.

    For a journalism colossus and social builder who has made indelible contributions in building people, institutions and societies, it is unimaginable not feeling the presence of the human dynamo and intellectual giant chief Oparadike around anymore. His deep insight into national issues, his presence of mind, his sheer energy and the zeal and perfection he brings to bear into any assignment he is involved in are some of the noble qualities Nigerians and most Africans whose lives he has touched in various capacities would direly miss.

    Chief Oparadike, whom most of close associates fondly address as “Oparadyke” is a man whose brain is on constant accelerator dissecting issues of our time, marshalling practical implementable solutions, (not just theories) and discerning matters with a Socratic sense of judgement. These qualities he brought into many of his various engagements in all the public positions he has ever held.

    On the Turf:

    In the profession of journalism which he is famous, Chief Oparadike was a journalist’s journalist. He not only read its theory up to its nourishing apex when the discipline was just new in Nigerian tertiary institutions academic syllabus, Oparadike was a much sought after innovator and turn-around expert which of many  media houses. He is never short of innovations. An all-rounder, human encyclopedia, Chief Oparadike has spent much part of life resuscitating ailing media houses when such media were at the point of their obituary. Of course those media he worked before that are no longer existing now, went their lane to dustbin after Oparadike had revived them. And this came about because either those taking over failed to follow his instructions meticulously to ensure their continued existence, or they allowed an overdose of the usual disease that cripple media houses to murder them:- which include politicization and overweening investor/proprietor interest. That is why, the man has in spite of the high mortality rate of media enterprises managed admirably to live an integrity-filled and purposeful life both as a public servant media and publicity manager and as an independent consultant.

    Oparadike was one of the earliest Mass Communication students to graduate with a First Class degree from the University of Nigeria, Nsukka. He obtained his M. SC degree in Mass Communication from the University of Lagos. He made history as the first Southerner and Christian to become the Editor of the Kaduna-based, Federal Government-owned New Nigerian Newspapers. He capped this up by becoming the Managing Director of the Daily Times. He served as the Commissioner for Information and Culture during the administration of Governor Evan Enwerem in Imo State. The death of Chief  Oparadike has robbed Nigeria  one of its most cerebral and courageous journalists to navigate successfully without running into trouble with  the  publicity-conscious military despots editing a Government-funded tabloid and at the same time protecting peoples interest by making the pages of the paper available for them to articulate their interests. This manifested profoundly during the debates for return to military rule during the late 1980s and the series of interminable Babangida-Abacha interminable constitutional conferences. Throughout all those periods, especially between 1984-87, Chief Oparadike then as editor of the New Nigerian, an unpretentious pro-caliphate/ military establishment mouthpiece, did not fail to make the pages of the paper available to the generality of Nigerians to air their views.

    He was made the editor of New Nigerian by former military president, Gen. Ibrahim Babangida. The late journalist said much on this development in his moving article on Babangida last year: He wrote: “In 1985, Babangida broke a glass ceiling. He brushed aside threats, blackmail and high-level conspiracy to make me the editor of the Federal Government-owned New Nigerian Newspaper. I thus become the first and only southerner and Christian to edit the New Nigerian.”

    Born in Owerri, Imo State on November 22, 1950, the deceased attended Ogwa Central School, 1956-62 and Obazu Community Grammar School, Mbieri, Owerri, 1963-71. He later went to the University of Nigeria, Nsukka, 1972-76 and University of Lagos, 1980-81. He served at the Programmes and News Department of Radio Nigeria during his National Youth Service Corps (NYSC) from 1976-77. The deceased was a Management Trainee, Centre for Management Development (CMD), Lagos, Kano, 1977-78. Later, he became Editor, News Agency of Nigeria, 1978-80 and Columnist/Group Political Editor, National Concord Newspapers, 1980-83. He worked as the Editor of The Democrat, 1983-84; and Deputy Editor, Editor, New Nigerian Newspapers, 1984-87. Oparadike was the National Director, Information and Publicity, Directorate for Social Mobilisation, 1987-90; Leader, Freedom Communications Ltd, 1990; and Group Managing Director, Daily Times of Nigeria Plc, 1995-96. He was Consultant, Technical Committee on Privatisation and Commercialisation; Council Member, Commonwealth Press Union, and Governing Council, Imo State Orientation Agency.

    Oparadike was also a member of Nigerian Institute of International Affairs; Nigerian Economic Society; Nigerian Union of Journalists and Nigerian Guild of Editors. He was a Knight of the Order of St. Christopher and held the traditional title of Chinyereugo of Amurie Omanze.

    The late Oparadike will be remembered for giving his best to his chosen profession and using it as a veritable tool to serve his fatherland. He was a good role model and mentor to many journalists in the country. He should be immortalised for his numerous contributions to the journalism profession and national development.

    It is a testimony worth writing in the nation’s hall of fame that Oparadike’s exploits in social mobilization when he held sway as National Director, Information and Publicity in the then Federal Government outfit called MAMSER then under Professor Jerry Gana that metamorphosed today what is called the national orientation Agency (NOA). The innovativeness and diligence Chief oparadike brought to bear on the grassroots motivation which led to increased food production across every length and breadth of the country has remained an evergreen template successive governments have been using in galvanising people to support growth policies:viz, the Patronise Made-In-Nigeria campaigns of Babangida regime, the Failed Contracts Tribunals and the various task Forces  campaigns which the military governments of the 80s and 90s had ever used in their various public engagement and participation processes were largely drawn from the policies formulated by this erudite journalist while he worked with MAMSER

    As the intellectual community and the progressive community in the nation mourn the loss of this great Nigerian, It behoves all of us , especially emerging leaders of this generation to imbibe the qualities of this great genius who is an acknowledged asset not only to Nigeria but to the black race. Adieu Sir Oparadike, Chinyereugo 1 of Amurie, the voice of the talakawas, the minorities, the kings and even of princes. Adieu, Great Nigerian

  • Curtailing the filibuster on corruption

    News that seized the public space for the most of the dying convulsions of 2016 was the nomination and rejection of Ibrahim Magu as EFCC chairman by the Senate.  We all know that certain twin brothers – corruption and mismanagement of resources – have been our albatross as a nation. Both twins have held us hostage and pundits have quipped that if we do not kill those twins, they would kill us. Therefore, there is understandable interest both in Nigeria and abroad, in anyone who occupies the office of corruption-fighter-in-chief. Part of the reason President Muhamadu Buhari was elected to office was his antecedent as a military man who fought corruption via decrees and very stiff jail sentences. For most of us Nigerians very eager for change, we were not to realize that fighting corruption by throwing people off planes the way the Philippines Rodrigo Duterte is doing is not the same thing as fighting corruption in a real democracy.

    In a democracy, a president cannot decree his way through. As a civilian president, a president needs the backup of the two other arms of government. As a civilian president, the president needs the people. Whether or not the people need the president is what four years will determine. But there cannot be any other ally in the fight against corruption than the people – ordinary people. If the people are behind you, let the lawyers and scribes be against you, it would be to their peril. But if the people do not trust you; if they perceive that there is double-mindedness in your desire to kill corruption and mismanagement, you can arrest all the judges and lawyers to no avail.

    When we talk about the people, we really mean the people. These days it is usually a very difficult thing to draw that simple line between who really represents the people, and that is in spite of the abundant provisions made for one whole arm of government to represent us the people.  And to that extent, because we realize that it would be really hard for Mr. Buhari to finish off the twin demons of corruption and mismanagement all by himself, we have entered into a plan with the United Nations Development Programme (UNDP), with support from the European Union (EU), to promote the ability of civil society and members of the media to help Mr. President fight against corruption. The plan involves building the capacity of representatives of the people and the media to understand concepts like the Open Governance Partnership (OGP).

    The OGP is a multi-stakeholder enterprise. It focuses on improving government transparency, accountability and responsiveness to citizens using skill and non-traditional techniques. It was launched in 2011 when the eight founding governments – Brazil, Indonesia, Mexico, Norway, the Philippines, South Africa, the UK and the US – validated the Open Government Declaration and announced their countries’ action plans. Since then, as much as 62 additional governments have signed on. Nigeria became a member in July 2016 at the London Anti-Corruption Summit. At that meeting, Nigeria did not have an Action Plan but it is to the credit of this administration that a plan for January 2017 – June 2019 has been developed with a lot of effort from civil society and the business community.  This plan was launched in Kaduna and also presented in France last year. One of the key deliverables of the OGP is the open contracting platform which the Bureau of Public Procurement is currently working on.

    We have also come to the understanding that there are certain frameworks and mechanisms within international bodies like the United Nations Convention Against Corruption, UNCAC, which can support the thrust around the advocacy issues on corruption in Nigeria. One of the UNCAC frameworks which can help pursue politically exposed persons who have dipped their hands in the common purse is the non-conviction based approach. In other lands, there are programmes in place like the voluntary disclosure programme, VDP, which our people erroneously associate with plea bargaining. Under that scheme, there are well-spelt out sanctions if a politically exposed person comes forward to return what they have taken from the common purse. What makes the case for the plea bargain difficult is that they have put the system through the rigour, have been convicted and therefore may make a plea before the courts for some sort of bargain.

     Our organisation ANEEJ has already held an inception meeting in Abuja. Among other matters, we will bring focal persons involved in the implementation of OGP and UNCAC review process to interface with meet CSOs and Journalists. This is an important aspect of the advocacy tool to fight corruption. We find that a great many Civil Society organizations and journalists have certain challenges with the procurement process, even though it is generally known that it is at the points of award of contracts that pressure to circumvent the processes sets in. What we hope to gain is progress with the processes involved with fighting corruption. If journalists and CSOs know where to go to at the Federal Ministry of Justice or the Presidency to ask relevant questions related to Open Government systems, perhaps we would be getting somewhere.

    For the UNCAC, Nigeria signed on to it in 2003. She went on to ratify it the following year.  Nigeria has been actively involved in the negotiations leading to the review mechanisms since the convention came into force. The review process comprises two five-year cycles: the first cycle (2010–2015) covers chapter III on criminalization and law enforcement and chapter IV on international cooperation. The second cycle (2015–2020) covers chapter II on preventive measures and chapter V on asset recovery.

    • Etemiku, is manager communications, ANEEJ, Abuja

  • ‘Nattering nabobs of negatism’

    “NATTERING nabobs of negatism”, this was one of the phrases used by the then administrator of East Central State,Dr. Anthony Ukpabi Asika(1936-2004) in 1972 to attack the former President, Dr. Nnamdi Benjamin Azikiwe(1904-1996). The old East Central State is made up of the present Abia, Imo, Enugu, Anambra and Ebonyi States. The major offence of Dr. Azikiwe then, was to advocate for an increase of 12 states to 22 states and to complain about the neglect of the then East Central state especially the roads in the state. Dr. Asika felt offended and launched a tirade of attacks on Azikiwe calling him”ex this”, “ex that”, who harbor” nattering nabobs of negatism”.

    Dr Asika died on September 14, 2004 and I accompanied my then boss, Chief Ufot Ekaette,the Secretary to the Government of the Federation then, to his befitting traditional burial in Onitsha. His wife Chinyere Asika(1939-2015) died on May 3 2015. The phrase no doubt, describe best the nature of things in the states right now. It was gladdening that the Governor of Osun state, Ogbeni Rauf Adesoji Aregbesola on January 13 was able to pay pensioners and workers in Osun state with N9.5 billion naira up to December last year.

    I know of some states that have not paid salaries of workers and judges for the past nine months not to talk of paying pensioners. On May 27 this year, it will be golden anniversary for states creation by General Yakubu Dan Yuma Gowon(83). In creating the states, he told the nation in a broadcast on November 30 1966, that” I wish to make it clear to the nation that honestly I personal have no vested interest in the creation of any particular state.

    But there is no doubt that without a definite commitment on the states question, normalcy and freedom from fear of domination by one Region or the other cannot be achieved. The principles for the creation of new States will be: (i) no one State should be in a position to dominate or control the Central Government; (ii) each State should form one compact geographical area; (iii) administrative convenience, the facts of history, and the wishes of the people concerned must be taken into account; (iv) each State should be in a position to discharge effectively the functions allocated to Regional Governments; (v) it is also essential that the new states should be created simultaneously.”

    He then named 12 Governors for the 12 states he created at that time. They include Brigadier General Mobolaji Olufunso Johnson (81), first Governor of Lagos State. His father Joshua Motola Johnson was of Egba Heritage. Mobolaji Johnson’s administration was responsible for the demolition and disinterment of people buried at Ajele Cemetary in Campus area in Lagos Island such as Samuel Ajayi Crowther, James Pinson Labulo Davies, Madam Tinubu, Thomas Babington Macaulay, and many others. The demolition met with a lot of criticisms. Brigadier General David Femi Lasisi Bamigboye(76) was the pioneer Governor of Kwara State. He is from Omu-Aran like Pastor David Olaniyi Oyedepo(62),founder of Winners’ Chapel Church in Nigeria, in the present day Kwara State.

    He was enlisted in the Army in 1960. His classmates then were General Julius Alani Ipoola Akinrinade (77), General Theophilus Yakubu Danjuma (78), Major General Samuel Ogbemudia, Colonel Ayo Ariyo, Chiabi(from the Cameroon), Philemon Shande, Ignatious Obeya, Brigadier General Pius Eromobor, Simon Uwakwe Ihedigbo ,Ben Gbulie, S.P. Apolo, Major General Emmanuel Abisoye(76) and Brigadier General Godwin Alabi- Isama (76). A zoologist, police commissioner Joseph Dechi Gomwslk (1935 – 1976)was the first Military governor of Benue Plateau state. He was Ngas from Ampang in the present Kanke local government of Plateau state.

    He was executed by a firing squad for his alleged role in coup attempt that killed General Murtala Ramat Mohammed in 1976. There are disputes till today over the alleged role of Mr Gomwalk in the coup. Major General Robert Adeyinka Adebayo (88) was the pioneer Governor of the Western State. He is from Eyin Ekiti in the presnt Ekiti State. He joined the army in 1953 and by 1957, he was already a regiment signal officer. He was an aide-de-camp to the last British Governor General of Nigeria, Sir James Wilson Robertson(1899-1983). General Adebayo told the people of Western State on May 3, 1967,” I know also that in spite of appearance and occasional outbursts, we nevertheless are a united people dedicated to the noble course of doing honour to the Yoruba race, and our country, Nigeria. As a gesture of my abiding faith I have today ordered that all persons in detention should be released in the hope that the people concerned will do everything possible to justify any confidence”.

    His son, Otunba Richard Adeniyi Adebayo(58) was elected the first civilian governor of Ekiti state in 1999. Commander Alfred Papapreye Diete-Spiff(75) was the first Military Governor of Rivers State. He was 25 when he was appointed Governor. In 1973 a correspondent for Nigerian Observer Minere Amakiri(1949- 2011) wrote an article which was published on Diette-Spiff’s birthday on July 30, 1973. Taking this as a deliberate insult, Dite-Spiff’s aide, Ralph Iwowari, had the repoter’s head publicly shaved and had him beaten with 24 lashes of cane. At present Diette- Spiff is the Amayanabo(King) of Twon-Brass, Bayelsa State. General Abba Kyari(79) was the first Military Governor of North Central state. In 1994 when he was appointed the Chairman of the National Defence Committee in the 1994 National Constitutional Confenrence. After retiring, he was appointed to the board of Director of the first bank of Nigeria,Standard Alliance Insurance and Merchant Bank of Commerce.

    He became Chairman of Gamah Flour Mills and of Alif Engineering and Construction Company. General Kyari is of no relation to the present Chief of Staff to the President, Alhaji Abba Kyari. Alhaji Usman Farouk(82) was the first Military Governor of the North Western States. In a 2006 press interview he said that the poor pay and equipment of the police could not be justified and was the cause of the state of insecurity in the country. Usman Farouk was awarded Commander of the Order of the Niger(CON) by the Olusegun Obasanjo administration in September 2006. In July 2009,his sixth son, Police Superitendent Abdulaziz Faruk, was killed during violence in Maiduguri triggered by the Boko Haram extreme Islamist sect. Brigadier Jacob Udoakaha Esuene(1936-1996) was the first Military Governor of South Eastern State which is made up of Cross Rivers and Akwa Ibom states today.

    A stadium is named after him in Calabar and under President Obasanjo his wife, Hellen was appointed a Minister of Environment in January 2006. She became a Senator in May 2015 succeeding Mrs. Ufot Ekaette, wife of the former Secretary to the Government of the Federation, Chief Ufot Ekaette. Mrs Esuene built Villa Marina Hotel in Eket in 2000. Brigadier Musa Usman was the first Military Governor of the North East State. After retirement, he became a Director in First Bank of Nigeria. He died on 19th September 1991 at the age of 50. North Eastern state now consist of Adamawa,Bauchi, Borno, Gombe,Taraba and Yobe states.

    General Samuel Osaigbovo Ogbemudia(82) was the first Governor of Bendel State. Bendel State now consists of Edo and Delta states. According to Mr. Nowa Omoigu- an authority in Military history,during the counter- coup/mutiny, an attempt on Major Ogbemudia’s life was made by then Lt-Colonel Buka Suka Dimka but Major Ogbemudia escaped because of a tip from Colonel Hassan Katsina(1933-1995) then Military Governor of Northern Nigeria and Major Abba Kyari(79). He was later elected Governor of Bendel state in 1983. Alhaji Audu Bako(1924-1980) was the first Military Governor of Kano state. After his death early in 1980 the Tiga irrigation dam, built during his governorship, was renamed the Audu Bako Dam.

    Following his retirement in 1975 he began farming and died at a farm he had in Sokoto state, leaving a widow and eleven children including Dr. Lawal Bako, a doctor, and Hajiya Fatima Yusuf Imam Wara. As we celebrate the golden anniversary of the state’s creation on Saturday May 27th this year, the pertinent questions are, have the objectives of states creation being met? should we have revert back to regionalism or confederation?. We seem not to be getting it right these days as a nation. With inflation on the rise,daily kidnapping everywhere, religious intolerance on the increase,competition and rivalry among the tribes, no restructure in sight, operating a costly Presidential Constitution, anxiety and discomfort in many homes, no light, insecurity everywhere, no good roads, no pipe borne water, no national objectives and with Boko haram refusing to be tamed, suspicion and division among us, paucity of funds, recession worsening, no other phrase could be applied on Nigeria today than the pharse of Dr. Ukpabi Asika. •Teniola, a former director at The Presidency, lives in Lagos.

  • Time to redenominate the naira

    Naira was first introduced as official currency for Nigeria in 1973. Nigeria adopted a national currency in replacement of the one with colonial notation. Thus, naira and kobo replaced pound and shilling. Nigeria currencies were introduced in coin and notes. There were half kobo, one kobo, 10 kobo and 25 kobo. These were token coins with reasonable purchasing power. The currency notes were 50 kobo, one naira, five naira and 10 naira being the highest.

    As the economy grew due to oil boom, the 20 naira note was introduced in 1977. However, with the devaluation of naira in 1991, some denominations were withdrawn while 50 naira was also introduced. This was geared at increasing money supply and devaluation of currency to boost demand for local product as suggested by the Structural Adjustment Programme (SAP). However, as good as the programme was, due to little or no effort towards export promotion and import substitution, the policy failed.

    Much later, namely- 1999,2000, 2001 and 2005; 100 naira, 200 naira, 500 naira and 1000 naira were introduced respectively due to lower purchasing command of previous denominations, policy failure, inflation and low public confidence in lower currency. While several administrations have searched for soft-landing in CBN, much of the work had little impact due to poor fiscal complement from government end. It was either an era of fiscal rascality or misery. There was little attention to textiles, manufacturing and education.

    Today, all the token coins re-introduced under Prof. Chukwuma Charles Soludo has returned to antiquity in people’s offices, homes, wallets and currency museums of the central bank. Nigerians rejected them even though they are still legal tenders with no value today. In spite of money being backed by government legislation, acceptability remains a major attribute authorities must consider as in the case of ‘the coins and the enforcement by the CBN in 2007’.

    The former CBN governor, Sanusi Lamido Sanusi attempted to print 5000 naira in 2012 but was vehemently rejected by Nigerians. In fact, the plan was to convert lower denominations to coins. What is clear is that, perhaps, all the several CBN governors including the present mean well for Nigeria. The problem seems to come from lateness in taking decision and policy implementation.

    At the moment, the denominations we have in polymer notes- five naira, 10 naira, 20 naira and 50 naira; their cost of production is fast approaching their face values. In theory, the currency should be converted to coins. However, the purchasing power of most of them is next to zero. Therefore, converting them to coins will not solve much of our problems. Similarly, the paper money namely- 100 naira, 200 naira and 500 naira and 1000 naira, have lost over 75 percent of their purchasing power from their initial date of production. Inflation, poor currency management, overreliance on a single major export product – oil, disconnects between fiscal and monetary authorities, currency trafficking, monetized polity, abnormal taste for foreign products, inability to hold government accountable and a lot more are responsible for emaciating naira. I am not sure we are serious at solving these problems today.

    Can we say the naira is dead? What is not in doubt is that the original value of naira is now in negative. What we know is that the value of one naira in 1973 is more than one thousand naira today. $1 equalled 63 kobo in 1973. Today a dollar is N315 at interbank rate and N500 at street rate. Besides, what N1 could buy in 1973, N1000 cannot buy in 2017. Between 2007 and 2017, we can also notice that $1 was N115 today it is N315. More than 100 percent of its value is gone using 2007 as the base year. It will be worrisome to compare the price of a bag of cement, a litre of PMS, a litre of kerosene, a tin of milk, a bar soap, a cup of sugar, a bag of rice, a pair of shoe, a cup of garri and many more in year 2007 to what the price is today (10 years ago). A more stable economy would only have a little increase.

    What is the way forward? Diversify the economy; improve infrastructure, hope for positive externalities, a review in exchange rate policy and import substitution. All of these solutions are very important but the willingness as of now is what is begging for answer. Political solutions seem to hold sway for real economic issues. It should be noted that they are not short-term based solutions.

    Redenominating our currency is very important now before it is too late. While I agree this may not directly affect the GDP figures, it will help reduce some pressure on naira and in fact induce GDP growth. Now the question is, ‘What is redenomination of currency’?

    Currency redenomination is the process where a new unit of money replaces the old unit with a certain ratio. This can be achieved by removing zeros from a currency that is moving some decimal points to the left. The aim here is to correct perceived misalignment in the currency and pricing structure as well as enhancing the credibility of the local currency.

    My recommendation is, we need to drop two zeros from the currency or moving two decimal places to the left. The name of the national currency will still be the Naira or any other name as government may deem fit. However, to avoid confusion, when transacting, the existing Naira will be referred to as the “Old Naira”, and the new one to be called the “New Naira” or any other name.

    The benefits of this policy are enormous. They include better anchor inflation expectations, strengthening of public confidence in the Naira or any other name government may prefer, make for easier conversion to other major currencies, reverse tendency for currency substitution as we currently witness,  eliminate higher denomination notes with lower purchasing power, reduce the cost of production for a currency with little purchasing power, distribution and processing of currency, promote the usage of coins and thus a more efficient pricing and payments system, promote the availability of cleaner notes with stronger value, deepen the foreign exchange market, ensure more effective liquidity management and monetary policy, expose stolen money, convertibility of the naira and hence greater confidence in the national economy and lead to greater inflow of foreign investment, position the Naira to become the ‘Reference currency’ in Africa. CBN will better capture monetary operations for better policy formulation.

    Failure to consider this policy will result in continuous speculation on naira. The fear is, if we do not consciously terminate speculation on the naira now, by the end of 2017, a dollar may be exchanging for N800.

    There is nothing to fear about this policy as countries such as Germany, Hungary and more recently Ghana have implement it in their various countries.

     

    • Alaje is an economist.

  • Analysis paralysis; call for action

    In his book, The Trouble with Nigeria, eminent African novelist and critic, Chinua Achebe said, “The trouble with Nigeria is simply and squarely a failure of leadership”. Others have identified Nigeria’s, nay Africa’s problems, to include corruption, bad governance, political instability, unemployment, population explosion, religious and ethnic conflicts, diseases and environment degradation.

    But this writer is of the view that beyond all the societal ills enumerated above by Chinua Achebe and other well-meaning analysts and critics, there is yet another challenge Nigerians – in both private and public institutions or even our private and public lives – are facing: It is analysis paralysis!

    For the uninitiated, this refers to the state of over-analyzing a situation so that a decision or action is never taken, in effect paralyzing the outcome.

    Individuals and organizations do not do enough when it comes to implementing plans, decision-making and achieving results.  Quite often, they spend more time on meetings, analysis, and deliberations – activities that are deemed counter-productive to good governance.  As we often say in this part of the world, “common knowledge is not common anymore”, hence, the need to reiterate the call for action to “Analysis Paralysis Syndrome”.

    The people increasingly look to the government and their leaders to envision, inspire and lead the change, of which they have every right to. So when you ask them about their expectations from their leaders, you would hear each describe the need for a leader who is passionate, inspiring, a creative problem solver, an innovator, someone with the courage to lead, the list is endless – since we know that meaningful change will not occur without leaders who possess the vision, courage and skills to lead the process.

    Rather than proffering timely solutions, people in leadership positions – either in our homes, families, workplaces and government – who are saddled with the responsibility of delivering on given tasks keep going back and forth to the drawing board, all the while getting nowhere on important projects and decisions. Delaying action while over-analyzing information clearly does not help when it comes to getting things done.  In fact, research has shown that, on average, people spend more than half their work hours receiving and managing information rather than using it to do what needed to be done.

    Consistent with the above is the time spent deliberating in meetings. Scholars have argued that most senior and executive management meetings are mediocre and not necessary, “not about coordination but about a bureaucratic excuse-making and playing politics. Decision makers are now addicted to meetings that insulate them from the work they ought to be doing.”

    Traditional meetings (formality) create an unnecessary culture of compromise that kill the sense of urgency, in which a false sense of urgency is created – a perfect cover up for inefficiency and laziness. Often times we have heard about meetings / deliberations or proceedings that were cancelled or suspended indefinitely and such were never revisited. The question that comes to mind is: what becomes of the time and resources invested in such deliberations?

    It gets even worse when government through its bodies: institutions, parastatals, committees, etc. over-analyze a situation than it is usually necessary, the repetitive deliberations, postponements, fact-finding missions and many more legitimate ways of doing nothing and getting paid handsomely causes productivity to drop drastically, while the confidence in the system plummet even further. All of these are convenient for the bureaucrats, after all, they know they will get paid, but what happens to the investor who has funds borrowed and tied down? What becomes of his faith? For how long should he continue to service a loan that is yet to be put to effective use? These are some of the questions that beg for answers.

    While I appreciate the fact that virtually all meaningful decisions, action plans, strategy etc. must be deliberated on, and important policies and regulations must go through due process, all of this is terrific that one should ordinarily not raise an eyebrow. However, it has become necessary to call our attention to the point of saturation – a state of “analysis paralysis”. It is one thing to learn, explore and absorb all the “experts” ideas, plans, inspiration and motivation. It is another thing to take timely actions in the lifespan of what is being acted upon, as whatever decision reached after the lifespan does not count towards anything really! It is not enough to just call for meetings – closed door or open door, we have to at some point do what is necessary – action over plans. There comes a time when any more thinking, deliberation and analyzing becomes counter-productive.

    As a nation, we just must start to move forward. We can analyze so much that no decision is made. There are evidences of government’s poor implementation drive all around for example and a lot of pending projects substantiates these. For instance, the reason why a great innovation at birth is yet to materialise is because a bill is yet to be passed into law after six good months of deliberations (half of the financial year). While in some cases, the appointment of committees and sub-committees to oversee a project alone can take the best part of one year. The decision-makers in this part of the world do not seem to be in a hurry about anything, particularly when it comes to their primary assignments – decision making. Since the more hours spent on the job attracts more pay all at the detriment of the people counting on the outcomes of the decisions reached.

    While I appreciate articles that critique and challenge, I believe that they must include recommendations and suggestions that add to the discussion about solutions. It is not my intention to mock our society about the lack of professional leadership skills. In order to raise the importance of action over plans and the need for our lawmakers to be more adept, innovate or perhaps be more accountable for their actions / in-actions, we all must play an active role in sounding the alarm that delayed proceedings which has led to delayed national growth. To reignite ourselves and influence our leaders and decision-makers to step up their game, realign, reinvent and change to meet the evolving needs of our individual lives, families and nation, we need to raise our voices and call the society’s attention to the need to act decisively and seize the opportunities of the present and the possibilities of the future.

    In conclusion, therefore, it is paramount that we change our mindset from arm-chair critics and perpetual analysts to go-getters who are performance-oriented. People should be remunerated based on work done. Everything humanly possible must be done to fight corruption so as to save an already sinking society from plunging deeper into the abyss of underdevelopment and waste.

     

    • Bashorun wrote from Kaduna, Kaduna State.

  • Afe Babalola: Humanity at its finest

    “Human life has meaning only to that degree, and as long as it is lived in the service of humanity… For me, humanity is infinite.”
    —Adolfe Joffe

    I am sobbing because of how bad the lives of the people Baba has helped would have been if God has not sent him to Ekiti. My sobbing is also about what will become of other people that still needs mercy from Baba Afe but won’t get it when Baba may have left us.” – A loose interpretation of the Ekiti dialect from Mrs. Aderemi Ajileye, one of the recipients who received N10,000 given out by the AB Foundation who was in a sober mood while others were jubilant.

    The two epigraphs above may be contradistinctive, yet they both point in the same direction in capturing the true essence of Aare Afe Babalola. The first provides a sort of definitive paradigm by which Joffe believed (before his death by suicide) must be the fulcrum around which human life must necessarily revolve for it to be said to be truly meaningful, while the other is a graphic attestation to a particular life and how it’s already being adjudged with no less philosophical undertone by Mrs. Ajileye, a barely literate trader. The kernels of these two epigraphs have not only metastasized in forming his total being, but Aare Afe Babalola has fulfilled, if not surpassed Adolfe Joffe’s demand from earthly beings. Perhaps more importantly is how hundreds of thousands of people around the world whose paths have crossed that of Aare (including yours truly) may have cringed, recoiled or cried inside at one time or another when it suddenly would have hit them that this great philanthropist (who’s probably in his 90s but as fit as a fiddle) will not be around forever as Mrs. Ajileye did.

    As a foremost personality who has transmuted into a colossus in Nigeria’s socio-economic and judicio-political landscapes, it’s expected that Aare Afe Babalola will mean different things to different people. But the one unassailable fact that remains unequivocally constant like a Northern Star that defines Aare is a very essence that encapsulates humanity at its finest. His unquenchable thirst to leave the Nigerian society, most particularly his beloved Ekiti State and its people better than he met them came once again in vivid colour on Tuesday, January 3, at the AB Foundation, Ado-Ekiti.

    Dubbed “AB Foundation Poverty Alleviation Package,” it was at the event hall of this foundation that some of Nigeria’s prominent dignitaries that included the Ewi of Ado-Ekiti, Oba Rufus Adeyemo Adejugbe and his entourage of all his Council Chiefs; the Ohinoyi of Ebiraland, Alhaji Ado Ibrahim; Chief Deji Fasuan, the prolific octogenarian writer and public analyst; Prof. Tunde Adeniran, a former Nigerian ambassador – to name just a handful – were gathered as living witnesses to the joy and excitement of one thousand needy indigenes of the state. On this day, all the 1000 people in the hall received envelopes stuffed with the minimum N5,000 prize to the grand largesse of N100,000. Although the recipients knew intrinsically that they were lucky to have made it into the foundation hall as they were sure to go home with probably their first financial gift of the year, but what they did not know was where they would fall under between the N5,000, N10,000, N50,000, or the N100,000.00 categories of recipients. As a result, the apprehension on the faces of some of them was palpable. To others, these categories didn’t matter as they were already rocking excitedly on their seats because they knew that their financial stations would most definitely be enhanced by the time they left.

    As if Baba himself knew that people would be curious as to how the foundation arrived at the one thousand threshold and the yardstick that was utilized in determining the eligibility of the would-be recipients of his financial package, he explained in his opening remarks that the foundation’s initial decision was to extend the financial gesture to no more than 200 people. “But when reports came to me that the people that filled the forms had swollen despite being told that the foundation had reached its limit of 200 people, tears ran down my face. I told them to increase the number of recipients to 1000 people”. That announcement did not only touch some raw nerves of some of the audience as some shook their heads in sympathy and appreciation, it also underscored the heart-wrenching poverty that the Nigerian masses continue to face constantly in which Aare has played, and continues to play his role without let or hindrance in alleviating.

    The Ohinoyi of Ebiraland, Alhaji Ado Ibrahim who was the special guest of honour delivered his speech by attesting to the fact that he had never met a Nigerian personality so unique and has such outstanding spirit of giving like Aare Afe Babalola. His Royal Majesty enjoined the lucky congregants to judiciously use whatever amount they’re lucky to be given from the great philanthropist so that “a year from now you would give testimony as to how you’ve been able to multiply this money which would be to the greatest delight of the giver.” The Ewi of Ado-Ekiti, Oba Adejugbe also extended his profound gratitude to Aare Afe Babalola for his many socio-economic exploits which had radically transformed his domain in particular. His Royal Highness thanked Aare very profusely for siting the Afe Babalola University, Ado-Ekiti (ABUAD), a world class higher institution of learning that states like Lagos, Ibadan or any part of the federation would have felt greatly privileged to have. Oba Adejugbe advised the would-be recipients to look seriously into agriculture with this once-in-a-lifetime opportunity of being given the cash they did not work for. Chief Fasuan and Prof. Adeniran were not left out in intimating the audience with the rare human qualities that are integral to Aare’s genetic make-up in their own speeches.

    Perhaps what Prof. Adeniran may have inadvertently left out in his speech on this ‘August occasion’ was the life-changing role Aare played in the life of this great intellectual Ekiti son and former ambassador. His education probably would have been permanently truncated. This is because at some point he could not pay his tuition and the young Adeniran was shown the door. But he ran to Aare for help and he quickly obliged without any strings attached. Now a professor, one can only imagine how Adeniran’s life would have turned out if his path had not crossed that of Aare Afe Babalola. Aside his own rough and unconventional road through which he attained his education, the lack of which would have most certainly made him a subsistence farmer to this day, Aare’s only commandment, which is etched permanently in his consciousness, is that quality education must be the single most important endeavour for any living being to possess. He has thrown his all into this time-honoured value as he had demonstrated in the life of Prof. Adeniran and so many others. Baba continues to throw everything he has as exemplified by ABUAD. Making a difference in the education sector is his driving force. It is what gives him the greatest joy.

    I have been privileged to be at many of Baba’s landmark occasions such as ABUAD’s anniversaries, matriculations and convocations, among others. In all these occasions, torrents of encomiums were always showered on Aare and the way he affects his society by the cream of society and foreign dignitaries alike in terms of his impact on individual lives, his unquantifiable contributions to various professional and educational organizations in Nigeria that by extension impacts humanity at large. I have seen letters of appreciation and acknowledgement that affirmed the aforementioned by multilateral organizations and world bodies. In not a few occasions at some of these events have I witnessed my own tears gently, steadily and uncontrollably oozing out from where I sat for no reason other than the realization that this exceedingly good man is also a mere mortal who would one day leave us – just like Mrs. Ajileye who sat pensively quiet when others were dancing and singing. Perhaps it was this shared spiritual connection with Mrs. Ajileye that may have telepathically led me to her in the midst of that joyous multitude.

    Both of us may have had some mental conversations with God as to why the “I am that I am” and the “unquestionable changer” couldn’t give exceptions to certain people like Aare Afe Babalola to live forever. While I have made my peace with the fact that Aare can never be eternal, his contributions to humanity on a grander scale will remain indelible and thus eternal, which is just as good for me to hold on to.

     

    • Odere is a media practitioner. He can be reached at femiodere@gmail.com

  • On military sacrifice and collateral damage

    Dateline Abuja, June 25, 2014: There was no hint that the phone call I received from Suleiman Bisallah, my very close friend and professional colleague of many years standing, was the last time we would speak, until three hours later when another colleague broke the devastating news that the same Bisallah was one of the victims of the bomb-blast that took place at Emab Plaza in the heart of Abuja.

    Bisallah was the Managing Editor of the New Telegraph newspaper and had gone to Emab Plaza to pick his phone that he had earlier taken there for repairs. He told me on phone that he was rushing to the plaza and that he was going to meet me at home, as he often did, later in the evening. Barely 30 minutes after we spoke, Bisallah met his untimely death, in the most devastating of ways. His sad demise has been counted as a big achievement by Boko Haram.

    This was the death that transformed me from an editor that was just reporting insurgency, from the comfort of my office, with little understanding of its impact, to one who knows what the Boko Haram war and its devastating effect really means. It automatically changed the way I report the insurgency.

    Two years earlier, on a sponsored trip to Turkey, alongside nine title editors of the then leading newspapers in the country, the President of that country’s Journalists and Writers Foundation (the equivalent of the Nigerian Guild of Editors), had told us that even though the leading newspapers in that country belonged to the opposition, the editors have made themselves a firm promise to help the government by stopping  any prominent publication of the dastardly activities of the PKK terrorist group. That decision had gone a long way in alienating the terrorists, and they are only regrouping now that the Turkish government has unjustly seized the same newspapers that were helping it to win the war against terror.

    It was after the Emab Plaza bombing I realised that by helping our armed forces and prominently projecting their victories and denying the enemy the same luxury, we are in reality not helping just the government of the day, but basically ourselves. Terrorists in all parts of the globe thrive in publicity, and seeing their acts of destruction prominently in the press goes a long way to encourage them to do more. Sadly, the same Boko Haram insurgents that we were inadvertently helping did not spare us. They bombed the offices of THISDAY in Abuja and some other newspapers in Kaduna and killed scores of our colleagues. Boko Haram leaders threatened to wipe all journalists out of existence until they realise that will ultimately deny them the cheap publicity they were getting. More than ever before, I saw the need to help our soldiers whose call of duty demands that they leave behind members of their beloved families and stake their lives to ensure you and I live in peace.

    While we complain bitterly each time NEPA switches off electricity supply to our homes or offices, perhaps only because we were watching a television drama or some news, those soldiers are facing – and even expecting – death every minute or second, as they face the enemy in such dreaded places as the Sambisa Forest that we the perennial critics could not even imagine treading on, not with all the money in the world.

    Four types of individuals or groups are not likely to appreciate the deep sacrifice the Nigerian military is making in quelling the Boko Haram insurgency: they include those who have never lost anyone that is dear to them, to the insurgency, as well as those who have never witnessed first-hand, the scale of damage occasioned by insurgency. Others include those who only saw war on television and therefore don’t know what it means in real life, and those who benefit, in whatever way, from war. This probably informs why some of us mistakenly regard the military as our enemies that we must do everything to bring down, forgetting that without them, we will be forced by agents of darkness to abandon these homes and offices from which we comfortably operate. If in doubt, ask the IDPs.

    All over the world, the most senior war commanders largely only design how to win the war and command their troops to execute the plan. They hardly venture to the warfront. But apart from the unprecedented commitment of the Buhari administration in seeing to the end of the Boko Haram insurgency, one of the key reasons the war has been won is the quality of the people appointed by the government to lead the armed forces.

    For example, Lieutenant General Tukur Yusufu Buratai, the Chief of Army Staff whose troops do most of the dangerous work, has since made a habit of spending lots of time with soldiers in the trenches. The very day he was appointed to his current post in July 2015, Buratai moved out of Abuja to the war front in the North-east, a move that helped change the course of the war and marked the beginning of the end of Boko Haram terrorists group’s insurgency. The troops reasoned that if their Chief of Army Staff, who can choose to remain and operate from his air conditioned office, can leave it all, abandoning his family as they all did, and stake his life to be with them,  they have every reason to do more and win the war.

    In other words, the acts of unprecedented bravery and selflessness by Buratai helped reduce a complex theory into practical steps. Whereas the perennial critics were rushing to their towns and choice capitals of the world to spend their Sallah and Christmas breaks with their beloved families, he chose to spend it in the trenches with the troops, eating the same food and drinking the same water as them. Now every senior army officer has taken a cue from their Chief of Army Staff and are all on their toes in the bid to give their best to Nigeria.

    Those troops that have staked everything to rid Nigeria of a nagging insurgency which had claimed lives of tens of thousands of civilians will be the last persons to deliberately target the same people they have toiled so much to defend and protect. Perhaps the best way to understand the operational error that led to the Nigerian Air Force pilot mistaking an IDP camp for a Boko Haram congregation is a Hausa proverb which roughly translates to something like mistakes are often made in the frenzy of winning a difficult war.

    The Boko Haram terrorists are like the drowning man who will cling to anything to keep afloat. They go for soft-targets in desperation to appear to be in business, just as Al-Qaeda, Taliban and other international terrorist groups that have been defeated by the strongest military in the world still go for similar targets to appear to be relevant. Perhaps it is their way of attracting continuous funding from their sponsors.

    It says a lot about the expertise and professionalism of the Nigerian armed forces that until now, very little or no collateral damage was witnessed, fighting a group of people that have no clear identity; who are also members of the society that look no different from you and I. If the military was bereft of conscience, they could deny responsibility for the error that unfortunately cost tens of innocent people their dear lives. It is reassuring that we now have an armed forces which  believe that much as it strives for the best, it cannot be perfect, just as no human institution has ever been.

    And it comes as a huge additional relief that President Buhari has expressed deep regret with the terrible incident and consoled the families that lost the very people the government spares nothing to protect.

     

    • Gaya is the Vice President of the Nigerian Guild of Editors.

  • Fayemi: Celebrating an innovator at 52

    Just as his most recent lecture “The Successor- Generation: Reflections on Values and Knowledge in Nation Building”, delivered at the 49th Convocation ceremonies of his alma mater, the University of Lagos, has become a subject of diverse interpretations, analyses and appraisals, Dr Kayode Fayemi, Minister of Mines and Steel Development, is seen by many from different perspectives.

    While some see him as an ever smiling and easy going man, some see him as one stubborn, ex-NADECO chieftain. Yet, for some, he is simply that tough and principled administrator with very rigid stands on issues of integrity and due process. And while some see him as that deep and diplomatic fellow, others see him as somehow too forthright and unable to hide his feelings. To some, he appears too refined for the murky waters of Nigerian politics, while some see him as a dogged fighter able to play on any turf.

    But whichever way one considers his politics and administrative style, Fayemi’s principal concerns centres round effective leadership, integrity, excellence and provable result. He is ever concerned about how transformational leadership can replace transactional politics. How institutions of state can be strengthened and positioned for effective service delivery. To him, public service is about trust and a leader must necessarily earn the trust of the people and should never trade it for silver or gold. He believes an activist in government must make a difference.

    Needless to say Fayemi’s principled stand on matter of governance and public policy has earned him friends and foes alike. Those who know him well would attest to the fact he is not likely to slow down on this, even as he turns 52 today. He believes that a man must stand for something, otherwise, he falls for everything. As a leader, he believes truth remains a necessary ingredient of justice, and that justice must be done (always) “though the heaven falls”.

    Fayemi subscribes to the school of thought that believes that leadership is not a popularity contest. He believes that a leader must be courageous enough to tow the path of truth- which he says is the path of honour.

    These are some of the philosophies  that define JKF, as he is fondly called by his teeming admirers. And these are the principles that sometimes make him a complex book devoid of easy comprehension. But therein lies the strength and courage he brings to bear on every assignment given to him. Consequently,  the success he has recorded in his private and public life, so far, can be traced to the effective application of this philosophy.

    It is in this context that many have come to see the current growth being experienced in the mining sector since he took over the leadership of the Ministry of Mines and Steel Development in November 2015. The National Bureau of Statistics attested to this when it declared recently that there has been a record of consistent and remarkable growth in the mining sector. The NBS, in its last quarterly publication, put the growth in the mining sector at seven per cent.

    What is now known as the “Fayemi magic” in the mining sector started when the minister ordered the application of the  “use or lose” clause in the Nigerian Minerals and Mining Act 2007, early last year. The enforcement of the directive increased activities in the sector as many dormant mining licences were revoked while the serious ones got theirs revalidated with payment of appropriate fees. Also, Fayemi, through collaboration with relevant security agencies and the Ministry of Interior took the issue of security of mines a step further. Today, operatives of the Nigerian Civil Defence Corps are being deployed for better security surveillance of mines. This, coupled with the current ease of doing business in the ministry, have helped in restoring investors’ confidence in the country’s mining sector.

    The strategic manner he got state governments to embrace mining as a sure way to take advantage of the mineral deposits in their domain is seen as a master stroke, a win- win situation for states and the federal government. Apparently wearing his conflict management cap, Fayemi worked out a strategic partnership arrangement with the states, which encourages state governments to set up special purpose vehicles to invest in mining without violating any of the existing laws. This has helped in no small way in resolving the age-long acrimony between the two levels of government regarding who owns what and where.

    And through constant strategic engagements with various stakeholders in the sector, he has been able to get their support for the several innovations that are being put in place.

    Based on demonstrated seriousness and commitment, several doors of funding have been opened  for the sector. For the first time in recent years, the ministry got N30 billion intervention fund from the solid mineral component of the National Resource Fund. It also received a World Bank support for $150 million, which would provide funding for artisanal and small scale miners.  Added to this is the technical partnership with some frontline mining nations, including Canada, Australia, China and South Africa, which has been of tremendous boost to the sector.

    Getting the work done without any excuse remains the hallmark of Fayemi’s public service right from his days as governor of Ekiti State between 2010 and 2014, where he pioneered a lot of developmental projects including the now famous Social Security Scheme for Elderly citizens; free and compulsory education for children from primary to junior secondary school; the computer-per- child initiatives in secondary schools; free health services for the vulnerable citizens (i.e. pregnant women, elderly citizens above 65, physically challenged citizens.), among others.

    It was during his tenure that investors were attracted to the Ekiti State in view of the state’s rating, then, as “investor friendly”, based on its level of peace and security as well as the relevant laws put in place to protect investments. Many believe that the high level of prosperity recorded in the state during his tenure is in sharp contrast to the crass poverty and economic woes that currently stare the citizens in the face.

    Whereas critics of his administration faulted some of his policies then, paradoxically, the results of  those policies are now earning the state accolades from many institutions, including the National Examination Council (NECO).

    Regarded as a workaholic, by his close associates, JKF has a knack for working quietly, conscientiously and strategically. His belief is that there is no place for excuses, especially in assignments that would lead to the public good.

    To Fayemi, it does not really matter whether the assignment is a community issue in Iropora-Ekiti or a mining issue in Muye Kafinkoro, Niger State. It does not matter if the task is about leading government delegation in an investment meeting in Johannesburg  or coordinating his party’s strategy session in Akure or attending to some developmental matters in Okposi Okwu. In as much as it will be beneficial to the people, it must be done with every jolt of his energy, and with outstanding result.

    Born on February 9, 1965, Fayemi earned degrees in History, International Relations and War Studies, which adequately equipped him with the intellectual skills needed to proffer solutions to life’s hydra-headed challenges. But of great significance to him, also, are the trainings he got outside the confines of the classrooms.

    As a little lad, he served as an altar boy in the family Catholic church. As a student activist, he was secretary of the Eni Njoku Hall, at the University of Lagos, which also made him a member of the Student’s Senate. He also served as Secretary of the Youths United in Solidarity for Southern Africa (YUSSA) as well as the Secretary General of UNILAG’s chapter of the All-Nigeria United Nations Students Association (ANUNSA). He was also a volunteer in the Lagos, Nigeria office of ANC/SWAPO liberation movements.

    As an activist, he was involved in a number of social causes, notably as a member of the National Democratic Coalition (NADECO), where he coordinated the Radio Kudirat and Radio Freedom. A detribalised Nigerian, JKF maintains a network of friends that cut across many strata.

    Today, as he clocks 52, this outstanding scholar, public servant, activist, intellectual, politician, innovator, strategist, loving husband and devoted father, can look back and count his many blessings. It is indeed a toast to 52 impactful years.

     

    • Oyebode is Special Assistant (Media) to the minister of mines and steel development.

  • NDIC’s summit on economic outlook

    One strong message that came out of the recently concluded workshop of the Financial Correspondents Association of Nigeria (FICAN) is that the worst is over as far as the current recession is concerned. This, in the views of financial system analysts, is against the background of the measures being undertaken by the federal government to get the country out of the recession. Nothing demonstrates this more than the N753 billion capital spending released between June and October 2016 – considering also that nothing near this figure had ever been spent in a full year during the last decade!

    This, at least was the consensus at the annual workshop organized and sponsored by Nigeria Deposit Insurance Corporation (NDIC) aimed at dissecting the recession ravaging the country. Aside serving the the purpose of highlighting the unique role of the financial press in managing and dissemination information to help the country navigate its way out of recession, the workshop also serves to bring the financial media and various financial regulators together with a view to understanding what measures the government is taking to see the country through the difficult, albeit winding economic recession.

    For NDIC, it is a unique platform for its corporate social responsibility, in addition to ensuring that that the Nigerian public and the relevant financial stakeholders are kept well informed and to build a rapport and synergy with the financial press.

    Indeed, NDIC has established this beautiful tradition, for many years now, of taking the annual event round the country to give it deserved national outlook. This time around Kaduna played host of the two-day event held from December 17-19, 2016. Scintillating presentations were made and digested through syndicated groups and far-reaching suggestions and recommendations proffered.

    Reflecting on the theme of this year’s workshop which is “Economic Recession and Nigerian Banking Sector: Opportunities, Challenges and Way Forward”, the Managing Director of the NDIC, Malam Umaru Ibrahim described the role of the media as very significant and great one towards the development of the nation. He challenged the media to do more in this time of recession, which he described as tough and most difficult for the country. “The media”, he said, “can achieve this through most fair, objective, well-articulated news report and analysis of the government activities on continued basis”.

    Dr. Abiodun Adedipe, one of the resource persons traced the current recession to the mid 1970s particularly the oil boom period. According to Adedipe, three significant economic issues confronted Nigeria by the turn of the 2000s: huge external debt, reaching about $36 billion; poor infrastructure and weak crude oil price, below $10/barrel at some point. The economy, then as well as now needed urgent fixing, but the purse was lean! According to Adedipe, the growth of Nigeria’s economy was robust until end-2014, averaging an annual 6.4% during 2001 to 2014. But in 2015, it grew by 2.79%, dragging the 15-year average down to 6.16%. Unfortunately, the positive growth was however, not accompanied by jobs – it was non-inclusive and exacerbated inequality, resulting in dismal development indices.

    And while the signs began to show in early 2013, Adedipe listed some of these symptoms as;  a lack of  diversification of the economy, overdependence on hydrocarbons for foreign earnings and government revenue; bloated government recurrent expenditure; a high unemployment rate (13.3% unemployment and 19.3% underemployment in Q2), dominated by youth (49.5%, up from 42.4% in Q1); a low, but stable external reserves ($24.10 bn) and high cost of doing business and high cost of living (inflation at 18.3% in October 2016).

    Another presentation by M.Y. Umar of the NDIC looked at the impact of the recession on the financial institutions.  According to Umar, the impact of recession on particularly deposit insurance system (DIS) include the following: lower saving resulting in lower premium payment which represents a threat to the survival of financial institutions; mass  loss of jobs; low investments; and rising sharp practices among banks among others.

    On the regulatory measures taken to manage the current crisis, the director, Bank Examination Department of the NDIC A.A. Adeleke listed some of them as including the unbundling of universal banking; raising of the capital adequacy; whereas the global standard is 8%, it was raised to between 10 – 16% to create default capital buffer in times of recession; stress testing – banks were subjected to liquidity test such as computation of Basel II. Both the NDIC and CBN, he said, further undertook some special proactive measures such as early intervention against warning signals; consumer education and enlightenment and preventing speculations and de-marketing of banks.

    On the role of the media, the chairman of the FICAN, Babajide Komolafe, opined that the financial media can offer its contribution to getting the nation out of the recession through reporting of opportunities available in the economy. This will help grow the economy. He held that investigative journalism can also help curb corruption, while the media can help encourage the populace to buy locally produced goods; by so doing, they will be growing the economy.  He noted that this can be done through positive reportage on the good side of made-in-Nigeria goods.

    The delicate issue of forex management under recession was discussed by CBN’s W.D. Gotring, who itemized some of the apex bank’s responses to the challenges of forex management to include closure of Retail Dutch Auction (RDA) window; adoption of interbank intervention; introduction of exclusion list (for 41 banned items); introduction of new flexible exchange policy; review of BDC operations; and introduction of forward and future’s market.

    On declining asset qualities, Owo Godwin, a financial analyst, identified some of the measures taken to improve the quality as general economic improvement through diversification; fiscal and monetary policy harmonization; boost in domestic production and value added among many others. Needless to say the effects of falling oil price on the banking sector is visible to all to see. These effects include rising non-performing loans (NPLs); dwindling liquidity; declining solvency and declining profitability among many others.

    Overall, the workshop challenged Nigerians to be ready for an inevitable recovery within the life span of the current Buhari administration. This is in view of federal government’s continuous efforts to diversify the economy; investment in agriculture, mining and infrastructure; enhancement of local manufacturing capacity; import substitution; fiscal discipline; patronage of made-in Nigeria products and services; and forex policy consistency among others.

     

    • Hassan is financial system analyst based in Abuja.