Category: Discourse

Some gallant military officers have made history by sacrificing their lives for Nigeria while they had the opportunity to save them. One of them was the late Brig. Samuel Ademulegun, who chose to die along with his expectant wife instead  of releasing the key to the armoury of the 1st Brigade of the Nigerian Army, Kaduna to coup plotters on January 15, 1966. Ademulegun, who was the Commanding Officer of the brigade at the time, was shot dead along with his wife by the young officers who overthrew the government on the bloody night. Writes Southwest Bureau Chief BISI OLADELE 

When young officers knocked on his door on the night of January 15, 1966, Brig. Samuel Ademulegun did not see sudden death coming. But that visit did not just terminate his life, it also ended those of his wife and unborn child, just for standing for Nigeria. His relations have had to live with the pain of the loss of a generation whose blood was shed to protect the sanctity of the country.

In this culture, Nigerian government has a curious attitude to the study of history. And this has had a serious implication for young Nigerians and even older ones as well. A study of history from the early education makes it possible for citizens starting from very early age, to know almost every detail about their country: the peoples, their roots, the wars the country has fought, the agreements and arrangements after such wars, the diplomatic issues the country has had, the crises the country has passed through in every aspect of life, the major personalities that played important roles for the country, either positively or negatively etc. Every citizen of a country usually knows through education, all the vital facts about the country. Such knowledge of history often ignites patriotic zeal in citizens. History, which documents what transpired in the past, often guides citizens on how to act in the future.

Like most other countries, Nigeria has passed through some traumatic experiences in its history.There has been conflicts and difficult political and constitutional issues for the country. Later on, there were military coup détat and forced change of governments.

A good study of history would have thrown more light on the issues and personalities involved in the struggle for independence as well as in the most difficult period so far in the life of Nigeria. The political crisis that started in the country few years after independence did not stop until it made room for bloody intervention of the military in government. Up till date, there are still many versions of what happened and how Nigeria found itself fighting a war against itself. Who are the dramatis personae in the various phases of the crisis and the civil war that eventually broke out. 

In a very recent effort to throw correct historical light on the very first coup d’état that opened the floodgate of military incursion into politics, Mike Ozekhome, Senior Advocate of Nigeria (SAN) said it remains a distortion of history to label the first coup in Nigeria as a sectional coup, or particularly an Igbo coup as some have continued to call It. Ozekhome, who presented a historical fact to support his argument, said that particular coup on January 15 1966 was carried out by some young idealistic and disgruntled young officers. They were 21 in all and they were Igbo, Yoruba, Hausa/Fulani, Ijaw, Urhobo, Ishan and Middle Belt. The young officers ended up doing great damage and spoilt whatever was the basis of their being disgruntled.

In all such cases, there are always heroes, some of who may not have gained big public attention, not to talk of appreciation. This is where the absence of teaching and studying history are costly for the country.

One of the patriots and good officers who fell victim of the first coup in Nigeria because he insisted on being patriotic was Brigadier Samuel Ademulegun. He was the Commanding Officer of the 1st Brigade of Nigerian Army, Kaduna.

Ademulegun’s story is almost like that of Nigeria. His story had started so well, with so much promise and preparation. Born in Owo, Ondo State on October 20 1924, Sam Ademulegun first had a stint as a teacher, after which he joined the army in 1942. The army in Nigeria was then known as the West African Frontier Force. Of course, the British were very much in charge then and they formed the bulk of the officer corps of the West African Frontier Force. Ademulegun started rising by dint of professional competence and training. 

One of the intakes into the army in those days who also rose to the top in the Nigerian Armed Forces later was Olufemi Olutoye, who rose to become a Major General. Olutoye confirmed that indeed, Sam Ademulegun who had become a Captain at the time he enrolled in the army, was the only Nigerian in the panel that interviewed him. He had good memories of the smart, pleasant young officer, who had ”the gift of the garb with a good command of the English language.”  Gen. Olutoye added that it was obviously a reflection of the competence of Ademulegun that ”he was invited to lead many official delegations to foreign countries”

As at the time the first set of Nigerian officers were commissioned into the Nigerian Armed Forces, just before Independence, Ademulegun was registered as number three. Brigadier Wellington Bassey held the number one spot, while General Aguiyi Ironsi had the number two spot. Ademulegun had military training at the famous Sandhurst Military Academy in United Kingdom. He was to serve in various locations of need as Burma, Congo and Tanganyika. He also served in the United Kingdom. There was so much camaraderie among the officer’s corps in those days and the division and parochial cleavages that later overtook every aspect of life in Nigeria was absent then.

Even when regional politics became hot after independence and later spilt across the country, the armed forces was insulated from politics to a very high level. Then the first coup détat happened on January 15, 1966. Unfortunately, Ademulegun, the soldier trained to be a professional and a patriot, paid with his life for defending corporate Nigeria.

The coup as Mike Ozekhome explained was the brainwave of a group of radical overzealous and disgruntled young officers, who thought with guns they will reverse the disenchantment being felt across the country as a result of the activities of the politicians. Among the young officer coup plotters were Chukwuma  Kaduna  Nzeogwu, T imothy  Onwuatuegwu, Adewale Ademoyega, Captain Adeleke, Hope Harris Eghagha, Gibson Jallo, Emmanuel Ifeanjuna, Sale Gambo, Ben Gbulie, Fola Oyewole and Atom Kpera, and others. They were 21 in number.

As at 1966, Brig. Ademulegun was the Commanding Officer, First Brigade, Nigerian Army,Kaduna. That was a sensitive military position. On the bloody night, the coupists had reportedly marched into his house in the Government Reserved Area of Kaduna, went to his bedroom, where he was asleep with his wife, Latifat, who was eight months pregnant. The intruders, who were mostly junior to the brigadier, asked for the key of the armoury for their operation, which was already on, but which Ademulegun did not know. He reportedly bluntly refused to release the armoury keys, obviously considering it beneath his position as the Commanding Officer of the Brigade to do so. 

His expectant wife, who was said to also be very familiar with the rampaging younger officers who were all friends of the family, got up and stood between her husband and the officers who were demanding for the armoury key. She obviously expected that her expectant will soften the situation,especially as they all knew themselves. It did not help. In a flash of tragic burst of bullets, Ademulegun and his pregnant wife were gunned down. They counted among the high-profile causalities of the night that changed Nigeria’s history for worse.

It has been 57 years since the tragic night of January 15 1966. Nigeria has never recovered from the trauma of that incident and the subsequent equally dastardly acts and reprisals that followed. However, the country has tried to move on.

Once in a while over the years, the government of Nigeria identifies and honours in various ways, patriotic citizens and servicemen who have diligently served the country well, in one sector or another. This is commendable. Such honour and recognition have a way of encouraging every citizen, especially the young ones and those still in service, to give their best to the country. Such identification of patriots who have given their best to their fatherland, is also a way of recording history and recording for posterity the account of citizens who placed country above personal interest. In very rare occasions in such service to the country, some citizens sacrifice themselves and give their lives for the good of all. Ademulegun proudly counts in this category. Any recognition given to him by Nigeria will surely be merited.

Only recently, the Federal Government listed another round of Nigerians, dead and alive, who were honoured with airports named after them. These are heroes and patriots whose names are now etched in landmarks in the country. Their names will lead to younger generations and future generations asking who they were and what they did. There is indeed, no better way to honour those who gave their lives in the service of the country. Incidentally, one of those who was recently honoured with an airport to his name, is Brigadier Zakari Maimalari, who lost his life the same night Brigadier Ademulegun, the Commanding Officer of First Brigade Nigerian Army, Kaduna, also lost his, and those of his wife and unborn child.  . The Gombe Airport now bears Maimalari’s name. That is a worthy honour to a good soldier. His name has now been etched in history for future Nigerians to know that he served the country well.

Of course, apart from airports, there are various other major national landmarks with which eminent citizens who gave their lives or their best to the nation, can be honoured. It will be wonderful if, in the next rounds of such naming of national monuments, Brigadier Samuel Ademulegun is remembered. He served the country well and paid with his life. Dying alongside his pregnant wife at the same time, because he insisted on guarding the keys of the armoury from those who needed it to access the weapon to sack the government and prominent state officers, is a mark of courage and patriotism. It is possible that if Ademulegun had chickened out and released the keys to the armoury, greater damage would have been done that very night, although the brigadier might have saved him. But he was too much of a professional soldier and a patriot to accept that. He preferred to guard the armoury keys with his life. Unfortunately, his wife’s head also went with it.

Brigadier Samuel Ademulegun lived a life of a real soldier. He is a role model of what a committed soldier should be. It is important that his likes are prominently honoured, so that young servicemen in uniform will look up with pride to the monument in their name and say, yes, this is how the country honours those who give their lives in her service.

• By Gbenga Fabuyi

Jerry Dike, a depositor of Ally Microfinance Bank, Dutse, Abuja was in utter disbelief on hearing the news of revocation of the bank licence recently by the Central Bank of Nigeria (CBN). He was not only cast into a rude shock, he was in panic as to what becomes of his hard earned savings. But before he could sink deeper into the confusion that momentarily engulfed his life, a seemingly instant respite came his way. He had received a short message service (SMS) from the Nigeria Deposit Insurance Corporation (NDIC) inviting him to come to the premises of the same bank the following day to verify his deposits and subsequently get paid the insured sum. Jerry could receive up to a maximum limit of N200,000 as insured sum, depending on his balance in the closed bank.

 Dike held the news as a delicate piece, pondering whether or not to believe it. He reluctantly headed for the premises of the bank the following day with a slim hope. However, all that gloom disappeared as he saw the bank opened by the NDIC officials who were already on ground to commence verification of depositors. To further bolster his confidence, he was warmly received and verified by confirming documents he brought forward as proof of account ownership and means of identification. He was consequently profiled for payment of her insured sum, which would be credited into the alternate account she had provided within seven days. 

 The story was not different with Obianuju Udeogu, a depositor of FCT Microfinance Bank, Garki, Abuja that was also closed by the CBN. The despair that hanged on Obianuju the previous night soon dissolved into high hope with her verification at the premises of the closed bank by the NDIC officials the following morning. 

*What had happened*

 The CBN had on Tuesday 23rd May 2023 published in two Federal Government Official Gazettes, the revocation of operating licences of 179 Microfinance Banks (MFBs) and four Primary Mortgage Banks (PMBs) pursuant to Section 12 of the Banks and Other Financial Institutions Act (BOFIA) 2020. The apex bank said the closed banks had either remained inactive, insolvent, failed to render returns, closed shop, or ceased to carry on the type of banking business for which they were licensed for more than six months, in contravention of the BOFIA 2020. 

*NDIC’s soothing balm*

However, the anguish that the licence revocation would have brought to the depositors were promptly arrested and converted to excitement by the NDIC which swiftly activated mechanisms for the discharge of its deposit guarantee mandate. The NDIC was established in 1989 to administer the deposit insurance system (DIS) in Nigeria. Deposit insurance system is a financial guaranty to protect depositors in the event of bank failure. It is also an additional measure of safety for the banking system. Cumulatively, deposit insurance is meant to bolster public confidence in the banking system by assuring of safety of depositors funds and mechanisms for orderly distress resolution to minimize disruption to the payment system. Apart from deposit guarantee, other mandate of the NDIC include bank supervision, failure resolution and bank liquidation. 

 With its instantaneous response on the ongoing verification of depositors of a hugely 179 closed MFBs and four PMBs, NDIC has, once again, brought its operational readiness and resilience to the fore in manner that earned it the admiration of stakeholders. But what exactly has the Corporation done in this particular instance? 

*What NDIC has done*

Bashir Alhassan Nuhu, Director, Communication and Public Affairs Department of NDIC said the Corporation acted in line with global best practice and International Association of Deposit Insurers’ (IADI) Core Principle which stipulates instant verification and subsequent payment to depositors by a deposit insurer within seven days of becoming the liquidator of a closed bank. According to Nuhu, based on the collaboration between the CBN and NDIC, and giving its operational readiness, the Corporation mobilized all human and material resources required for immediate verification ahead of the revocation. Nuhu said it was seamless for the NDIC to deploy closing teams to over 188 closed bank premises across 32 states of the Federation overnight to take physical control of affairs of the institutions from the operators. 

 The NDIC spokesperson disclosed that the Corporation took several proactive measures to prevent panic among members of the public and achieve high turnout of depositors of the affected banks to claim their money. In his words: “As part of preparations, the Corporation had set for massive sensitization of depositors and the general public on what happened, plans put in place by the NDIC to protect bank customers and steps to be taken by depositors towards payment of their trapped funds, beginning with the insured sums”.

 He continued: “The NDIC rolled out newspaper advertisements simultaneously with the announcement of revocation by the CBN, stating the list and addresses of all the closed banks to avoid a run on the live banks. Timeline and requirements for verification were also given to depositors. Also simultaneously, each depositor was contacted directly through SMS on where specifically to report to for the verification. Extensive announcement was embarked upon on 34 radio stations across 32 States and the FCT to further create awareness among the depositors. Support of royal fathers and other community leaders in and around the closed banks’ host communities were also enlisted to ensure good turnout of depositors “.

*What the NDIC’s response symbolizes*

It is therefore refreshing that the NDIC rose up to the occasion to prevent suffering of failed MFBs/PMBs depositors following revocation of their banks licences. The Corporation’s effectiveness has once again gone a long way, not only to boost public confidence in the banking system, but also to reinforce the position of the deposit insurance system as a potent financial system safety-net participant. 

 Shedding more light on this, Nuhu said the Corporation’s response on the recent bank closure showed that the NDIC has been able to overcome the challenges that hitherto occasioned delayed verification and payment to closed bank depositors. On actual reimbursement to the verified depositors, he disclosed that the Corporation had commenced payment of insured sums within the seven days stipulated by IADI. Some of the depositors that were interviewed also confirmed receiving payments. They were full of praises for the NDIC, not only for effectively discharging its mandate, but also for rubbing a soothing balm on the pains which the closure of their banks could have caused.    

• By Wale Omorinoye

Apparently irked by dilapidating state of public buildings across the country, former President Muhammadu Buhari on Wednesday, April 6, 2022 at the State House in Abuja signed into law the Executive Order 11, a landmark order which focuses essentially on the maintenance of public buildings. The first of its kind with a policy framework for maintenance of national infrastructures, the Executive Order expects Ministries, Departments and Agencies of government (MDAs) to set up maintenance departments. The Order gives legal backing to the country’s national maintenance policy and expects the office of the Head of Civil Service of the Federation to establish a department of federal public assets maintenance.

 The Executive Order is highly commendable as it would address the deplorable state of public buildings, strengthen and sustain its development as well as the development of infrastructures in the country. This is because building maintenance which is an important aspect of building management is often neglected and it is expected that implementation of the Executive Order would give a facelift to public buildings across the country. With the institutionalization of maintenance culture, buildings are expected to retain their economic life, there would be lower depreciation cost, and consequently, there would be higher productivity and profitability. In other words, proper maintenance would ensure lower expenditures on replacement, and would allow more expenditure or funds for incursion into new productive ventures and investment.

 As commendable as the government initiative was, it should be stated however that in today’s dynamic and high paced world, what matters to the corporate and business world are functions which integrate people, place and processes within the built environment and which robs on the quality of life of people and productivity of the core business. Corporations increasingly recognize the importance of managing not only buildings, but management which juxtaposes with people and processes, which also integrates the principles of administration and architecture, into the behavioural and engineering sciences. Encouraged by globalization, facilities management vocation has spread from the US and Europe into Nigeria with big multinational corporations operating in developed countries and African countries such as Chevron, Mobil adopting this relatively new practice. Current developments in information technology, rising expectations of employees, advancements in telecommunications and the removal of trade barriers, are gradually transforming the world into a global village, and one of the fallouts has been the spread and acceptance of the concept to every country’s doorstep, Nigeria inclusive. In other words, a functional, effective and productive system and organization requires more or goes beyond building maintainace. It is now all about a mix of functions and services which provides essential support system in the right form, at the right quality and for the right cost to core business operations. These are embedded in facility management.

 To the extent that essential lifeline for the sustainability of the society is quality shelter, the growing population of Nigeria, growth in urbanization, expansion of business, tourism, hotels, institutional buildings and the like, leads to demand for facility management services for proper maintenance of properties. Of utmost importance is the need to keep up with the requisite facilities to satisfy the growing needs of the population which in turn would contribute toward the economic growth of the country. Urbanization influences sustainable development by increasing productivity, by allowing innovation, and novel ideas if properly managed. Hence, this trend is expected to continue to drive the Nigeria facility management services market growth.

 Nigeria’s response to rapidly advancing technology include buildings and construction at a corresponding pace that has never been witnessed before anywhere in the continent of Africa. With the aid of technology, we are having new types of buildings; green, smart and intelligent buildings. There is also renew commitment to mass housing and new infrastructure and these comes with more interests in the facility management industry in the country.

 There is however a huge challenge of capacity here. Organizations in the built environment need to concentrate on building capacity to manage the industry because there are gaps in knowledge and skill managers. Facility management is a multi-disciplinary space; people from other fields such as engineering and construction are being drafted to manage buildings, but quite unfortunately without tutelage by facility management consultants and these are people with experiences over the useful life of buildings, people who understand how buildings degrade over time. It is very important to take into account the body of knowledge for managing buildings because it takes a lot to keep assets value up and running.

There is also a huge deficit in energy efficiency and energy provision for the facilities. This does not necessarily mean we have enough power for our built environment, but because we are wasting about 40% of the power we are generating. We engage with a lot of clients across the country and realize that we could save electricity and diesel cost for up to about 30-40% just by intervening and using some smart systems. We have to close that gap through training.

 It is however noted that there is an increasing demand and vacancy in the facility management space in Nigeria, and basic shelter can transform to new heights of safety, comfort and functionality through innovative implementation of quality facility management. A degree of determination, collective efforts by practitioners and stakeholders, career training and development, regulatory framework and standardization are required in overcoming challenges in the field and practice of facility management. Estate Surveyors and Valuers are professionals responsible for land, buildings, plant and machinery management, and in reasonable senses, we should be more purposeful and visible in the arena of facility management.

•   Omorinoye is an Estate Surveyor and Valuer based in Lagos

Dufil Prima Foods, makers of Indomie instant noodles, has announced calls for entries for its flagship CSR initiative, Indomie Heroes Awards. The initiative, which kicked off in 2008, identifies and recognises the heroic acts of children, aged 15 and below.

 The 2023 edition will showcase captivating and inspiring stories from the six geo-political zones.

Group Public Relations and Events Manager, Temitope Ashiwaju, stressed significance of the Indomie Heroes Awards.

 He said: “True heroes are ordinary people who do extraordinary things. They don’t rehearse or plan for it, but they rise to the occasion by answering the call for bravery.

 “This year marks the 15th edition of Indomie Heroes Awards, and we expect to receive entries about real-life heroes across Nigeria who have exhibited heroism, and need to be publicly recognised, appreciated and celebrated.

“Our objective is to bring unsung young heroes to the limelight; those obscured but have the spirit of heroism in them. Their stories must be true and verifiable, they must be below 15, and the incident must be within six months.”

 The award has three categories – physical bravery, social bravery, and intellectual bravery, and each winner will get a scholarship worth millions of naira.

 Deadline for submission of entries is August 15, and entries will be subjected to a screening process, and a final selection process will be done by a team of credible judges.

National Coordinator and Chief Executive Officer of African Union Development Agency – New Partnership for Africa’s Development (AUDA-NEPAD) Nigeria, Princess Gloria Akobundu, has hailed the endorsement of President Bola Tinubu, as chairman of the Economic Community of West Africa State (ECOWAS).

She said this yesterday in a statement issued by the agency’s Communication Officer, Marcel Anyatonwu.

 Akobundu said the endorsement was indication the ECOWAS sub-region as well as Africa believe in the capacity of the President to provide purposeful leadership in steering the sub-region from its economic challenges and improve multi-lateral relationship among member states, while promoting democracy and good governance.

She applauded the President for upholding democracy and rule of law by taking a stand against any coup in Africa.

 The AUDA-NEPAD chief noted the pronouncement has sent a strong signal to any group contemplating the act.

 Akobundu hoped President Tinubu’s tenure would bring good tidings to the sub-region, noting with his experience and ability as a team leader and player, ECOWAS would feel his impact in coming months.

 She called for support for President Tinubu from his counterparts and those to work with him to realise all he set out to achieve.

 “With the statement made by the President, it’s clear he understands the challenges of the sub-region and has pledged to work with his colleagues in finding workable solutions’’.

National Agency for Food and Drug Administration and Control (NAFDAC) has warned Nigerians against patronising hawkers of drugs.

The agency, noting these merchants of fake and substandard medicines, who are in the streets, buses, and other places, are a threat to public health, and endanger national security.

It explained most drug hawkers, who work with criminal syndicate networks like insurgents, kidnappers, robbers, among others, supply and distribute psychoactive drugs and narcotics.

 NAFDAC also warned Nigerians against consumption of fruits ripened with calcium carbide, as they can cause cancer, heart failure, kidney failure, and liver failure.

 It said it has commissioned a scientific study on the best approach towards mitigating the health hazards posed by ripening of fruits with carbides.

 Director-General of NAFDAC, Prof. Mojisola Adeyeye, spoke during launch of the agency’s media sensitisation workshop on dangers of drug hawking and ripening of fruits with calcium carbides.

She said: “To address these pressing issues, NAFDAC has launched a nationwide crackdown on drug hawking, coordinating with law enforcement agencies to ensure offenders face full wrath of the law.

 “No offender will be spared from facing the full wrath of the law. In this regard, we solicit the co-operation and support of all other law enforcement agencies, journalists and well-meaning Nigerians in ridding the country of this harmful and shameful practice.

 “NAFDAC’s enforcement officers are currently carrying out synchronised nationwide operations to put an end to this dangerous practice.

 “The perilous practice of fruit ripening with calcium carbide   poses  risks, artificially ripened fruits, which are often sold in open markets,  may appear ripe on the outside, but their inside remains underdeveloped and unfit for consumption.”

United Nations Children’s Fund (UNICEF) yesterday urged governments and parents to prioritise the first 1,000 days of life of children as a critical period that underscores their survival.

 It noted focus must be on immunisation, adequate nutrition, and hygiene of mother and child, as this will affect cognitive, affective and physical development of children.

 The international body said, among other things, malnutrition adversely affects brain development of children, especially as 80 per cent of the brain is formed within the first 1,000 days of birth.

Speaking during a media dialogue in Gombe State, on importance of the first 1,000 days of life to a child, UNICEF’s Chief of Bauchi Field Office, Dr. Tushar Rane, said: “The first 1,000 days are about nourishing bodies, brains and future. 270 days is for pregnancy, while the remaining 730 days are from birth to two years.

 “Children from poor families are at greatest risk of malnutrition in the first 1,000 days. It is important to let the public know they must not miss the first 1,000 days of the child’s life, especially to mothers, to ensure their development and growth.

 “State governments must ensure we do not leave any child behind, and enhance its efficiency to ensure we do not leave any area or vulnerable community behind.”

 Acting Executive Secretary of Gombe State Primary Health Care Development Agency (SPHCDA), Dr. Mariam Abubakar, said: “Maternal undernutrition contributes to adverse effects in mothers and infants, including increased cesarean delivery rates and risk of maternal mortality in mothers. Undernutrition lowers educational attainment, lowers economic productivity, increases morbidity and shortens life expectancy.

 “We must encourage mothers to breastfeed their children, as breast milk is the first immunisation for every child because it contains antibodies, improves bonding. Breastfeeding is the standard of feeding children below six months.”

• By Oche Echeija Egwa 

Timing matters in everything. Less than twenty-four hours in office, two directives by Nigeria’s newly sworn-in President, Bola Ahmed Tinubu, set the tone for emerging change, reverberating across the country and the world. Albeit, initially greeted with consternation and skepticism, steadily and inevitably, the doubt has given way to applause. 

On President Tinubu’s first foreign trip, June 20th, 2023 – June 24th, 2023, to attend the Summit on New Global Financing Pact in Paris, France, the two master strokes of removing the age-long fuel subsidy and streamlining the dual exchange rates, paved way for new friendships, partnership deals and an inspirational presence on global stage. The President was attending his first international conference.

The historic decision on May 29th, 2023, to re-align the economy in his inaugural speech, completely altered the trajectory of Nigeria’s financial fortune, redefined trade and diplomatic relations, and showcased the President’s image as a reformist and a listener. Other actions on security, financial regulations, signing of bills, that directly impacted lives, also projected President Tinubu to the world for being a people-first leader.

The two decisions taken on the nation’s economy made President Tinubu a toast of world leaders and financial institutions at the Summit. The ovation by economic and financial experts for the courageous steps revealed more for the future, with the World Bank projecting, after the meeting in Paris, that Nigeria will save about $3.9 trillion in 2023, and N21 trillion between 2023 to 2025. 

The seriousness and quick engagement of critical stakeholders in the economy, like trade unions, oil marketers, depot dealers, the NNPC Ltd by the administration was also taken by the foreign institutions as a deliberate attempt, and not political convenience, to take the country to a new height, as well as various initiatives and measures being out on the drawing board to alleviate the impacts. 

The two-day Summit, hosted by French President Emmanuel Macron, was aimed at repositioning the global financial architecture to reconsider less developed countries, who are dealing with debilitating debt hangovers, struggling through energy transitions, and still reeling from effects of climate change and Covid-19. President Tinubu seized the moment to start a new conversation about Nigeria. 

A plethora of sideline meetings were lined before he arrived in Paris, and the President was careful in making the right choices for Nigeria’s economic prosperity. President Tinubu met with French President, Macron at the Elysée, President of Swiss, Alain Berset, at Palais Brongniart, President of Benin Republic, Patrice Talon, Director General of World Trade Organization, Dr Ngozi Okonjo-Iweala, President of the African Development Bank, Dr Akinwunmi Adesina, President and Chairman of the Board of Directors of African Export-Import Bank (Afrexim), Prof. Benedict Oramah and President of European Bank for Reconstruction and Development (EBRD), Odile Renaud–Basso.

The President also held meetings with Senior Vice President of Airbus/ATR, Public Affairs, Laurent Rahul Domergue, on aviation matters and a two-hour marathon interaction with the Nigerian community based in France, where he outlined his vision for the economy, starting with a roadmap on palliatives to soothe the burden of subsidy removal. He sought “family” support for more inclusive growth, especially with technical expertise. 

Every speaker at the forum thanked the President for taking the bull by the horn, and getting the “elephant’’ out of the way. 

“You have shown we have a committed and competent leader. You are the first President of Nigeria, who has no godfather. You are your godfather. We are impressed with the removal of subsidies and streamlining of foreign exchange. We will wait for the palliatives,’’ Prof. Emmanuel Iga, a Nigerian in France, said. 

The meeting with the Nigerian community was facilitated by Dele Alake, Special Adviser to the President, Special Duties, Communication and Strategy, who highlighted achievements of the administration within three weeks, assuring of better days for Nigerians.

“We are ready for business, and prepared to welcome investments,’’ President Tinubu said, while receiving the President and Chairman of the Board of Directors of AfreximBank, and President of European Bank for Reconstruction and Development (EBRD). 

The President assured the delegation of AfreximBank Executives led by Dr Oramah that the Federal Government will continue to stimulate the economy with policies that support investments in areas of Nigeria’s competitive advantage, particularly agriculture. 

“We need reforms for national survival,’’ he added, noting that it would take sacrifice and audaciousness to reposition the economy, calling for more collaboration to consolidate and solidify. “We must stimulate recovery for the growth and prosperity of our people, which will not be far away. Nigeria is ready for global business and our reform is total. Nigeria is blessed with human and material resources.’’

The President of AfreximBank commended President Tinubu for the valiant steps in stopping the fuel subsidy and unification of the exchange rate, assuring the Nigerian leader of the full support of the financial and development institution on the ongoing reforms.Oramah said the bank was already building the first African Specialist Hospital in Abuja, and an Energy Bank, pledging to inject more money into the economy to further build confidence of investors. He listed areas of interventions to buoy the economy, like infrastructure, health, energy and agriculture. 

An elated investor, Renaud-Basso said it would be a mistake for the development bank not to invest in Nigeria, after considering six potential economies for investment. She explained that the focus of the development bank would be on the private sector, especially Small and Medium Scale Enterprises (SMEs). 

President Tinubu welcomed an investment of $520 million in specialised agro-processing zones by the African Development Bank (AfDB), praising the leader of the multilateral institution, Dr Adesina, for further opening up the economy for investments that provide job opportunities and reduction in poverty. The Nigerian leader said the agro-industrial project strengthens an area of advantage as he listed the priorities for Foreign Direct Investment (FDI), including women and youth empowerment, infrastructure development, with stable electricity.

Dr Adesina thanked President Tinubu for the daring initiatives that had repositioned Nigerian economy in three weeks and stimulated appetite of investors from different parts of the world; removal of fuel subsidy and correcting the distortions of the exchange rate.

“First and foremost, it was a great opportunity for me to see His Excellency to personally commend him for the thoughts and ideas he has brought to the Summit in Paris. We discussed many things and I commended him for his boldness, his vision and determination to having macroeconomic stability in Nigeria.’’

“All these are right signals which the President is sending, which investors and the international community like and will attract investors,’’ Adesina added, “No bird can fly with its wings tied behind.’’

Senior Vice President of Airbus/ATR, Public Affairs, Laurent Rahul Domergue, assured the President that the company was prepared to invest in the aviation sector, particularly in supplying planes, maintenance and training.

President Tinubu and Talon agreed on creating a new platform of joint patrols and surveillance by the Customs, that will check importation of illegal goods into Nigeria, through the neighboring country, and they further reviewed the trade relations that will benefit the West Coast, and Africa. Talon pledged his support, saying “whatever is forbidden in Nigeria is forbidden in Benin.’’  

To further demonstrate his seriousness on tightening the borders and controlling smuggling, the President told Talon that he had appointed a new acting Comptroller General for the Nigerian Customs Service, Adewale Bashir Adeniyi. 

The Summit, attended by more 50 world leaders, including a rarely seen Crown Prince of Saudi Arabia, Mohammed bin Salman Al Saud, was largely participatory, with syndicate sessions, and leaders of the developing countries challenging the host, and the more privileged leaders to “walk the talk.’’ 

The President’s every hug, and pumping of handshakes with members of the international community in Paris was followed with felicitation on the valorous step of removing the overdue subsidy on fuel, and streamlining of the exchange rate that had enriched a few for many years, enabled smuggling and impoverished majority of Nigerians.

Nigeria’s former Minister of Finance and Economy, Dr Okonjo-Iweala, had over many years called for removal of the subsidy, alongside multilateral institutions, like the World Bank and the International Monetary Fund (IMF), and economic experts, which cost about $10 billion annually. 

Reviewing the outcome of the Summit, she said “there was an unprecedented frank but constructive dialogue between leaders from the south and north leading to a consensus on action against interlinked challenges of poverty, climate and inequality and an action plan to solve them.’’

An elated President Tinubu left Paris after the Summit with a promise to do more, especially in tackling poverty.

• Egwa is an Assistant Director in the Office of the Special Adviser to the President, Special Duties, Communication and Strategy.