The Nation Newspaper

Category: Editorial

  • A stellar example

    A stellar example

    •Mrs Tinubu ‘s commitment to the abandoned National Library project deserves commendation, not condemnation

    In the run-up to her 65th birthday on September 21, Nigeria’s First Lady, Senator (Mrs) Oluremi Tinubu, CON, requested that all those who planned to congratulate her through media adverts, send gifts or organise parties on her behalf should channel the funds earmarked for such activities to a special fund established to facilitate the completion of the Headquarters of the National Library in Abuja.

    Tagged the “Oluremi @ 65 Education Fund”, the account is domiciled in the Federal Ministry of Education and has as its signatories the Minister of Education and the Chief Librarian of the Federation.

    That the sum of N20.7 billion had been realised in the account within a short interval is a reflection of the high esteem in which the First Lady is held and illustrative of the fact that a person does not have to hold formal office to contribute concretely to national development.

    The calibre of those who contributed to the rescue fund for the completion of the National Library, including President Bola Tinubu, Vice-President Kashim Shettima and his wife, governors and their wives, ministers, state and national legislators, heads of government departments and agencies and titans of the private sector, among others, could only have been mobilised for this effort by a person of the caliber of Senator Tinubu.

    The idea of utilising the opportunity of her birthday for the completion of the National Library project shows a very thoughtful disposition on the part of Mrs Tinubu and her advisers.

    For, the project which ought to be a critical national legacy had been uncompleted since it was first conceived by the government of President Shehu Shagari in 1981. The actual construction which started in 2006 was awarded at a cost of N8.5 billion and was scheduled for completion within two years.

    As at 2023, unfortunately, the project was only at 44% rate of progress and the cost had escalated to nearly N120 billion. This is thus another regrettable example of how delays in project execution compound costs, to the detriment of the public interest.

    It is thus not surprising that the Nigerian Library Association (NLA) has commended Mrs Tinubu’s vision and patriotic spirit. We agree with the body that the initiative is “a visionary act that turned a personal celebration into national call to action”.

    The NLA was certainly spot on when it described Mrs Tinubu’s gesture as reflecting a deep commitment to education and the recognition of the central role a modern National Library plays in nation-building.

    The First Lady’s life demonstrates a consistent love for education.

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    As the First Lady of Lagos State between 1999 and 2007, her pet project, the New Era Foundation sponsored different activities to promote education among the youths. One of the most prominent of these was the Spelling Bee Competition which saw winners emerging as governor of Lagos State for one day. Many of the successful participants have gone on to achieve enviable attainments in life.

    It is unfortunate that some critics have sought to demean and ridicule Mrs Tinubu’s philanthropic gesture towards the completion of the library project by arguing that public funds should have been utilised for the purpose rather than a private fundraising initiative.

    This is mischievous and misleading.  However, responding to such cynical views, the First Lady stressed that the initiative had no political undertones whatsoever. In her words, “This is not the first time I have raised funds for causes close to my heart. For my 45th birthday, I raised N50 million to complete the National Sickle Cell Foundation Centre, which has since become fully operational. For my 50th birthday, I raised N200 million for the New Era Foundation…I even donated to the post-war rebuilding of schools in Liberia”.

    The First Lady has shown a stellar example which other eminent citizens should emulate. Apart from the National Library, for instance, the various states and local government areas also require community libraries which wealthy private individuals can support financially, especially in the face of acute insufficiency of public funds to meet the many challenges of providing public infrastructure in diverse sectors.

  • October 1 speech

    October 1 speech

    Fresh, alluring promises, but not there yet at 65

    In his October 1 broadcast to mark Nigeria’s 65th independence anniversary, President Bola Ahmed Tinubu was flush with good tidings. “The worst is over, I say,” he gushed. “Yesterday’s pains are giving way to relief.  I support your endurance, support and understanding.”

    The alluring statistics, which he reeled out, simply walked that cheery talk.

    In second quarter 2025, Gross Domestic Product (GDP) grew by 4.25%, well above the 3.4 % the International Monetary Fund (IMF) had projected.  Inflation, another critical economic monitor, fell to 20.12% in August.  Though still two-digit, which points that it’s not yet checkmate on the inflationary front, it’s the lowest in three years. That shows how far the administration’s economic reforms have gone.

    Jarring inflation was the clearest sign of the harsh combination of oil subsidy removal and floating the Naira against foreign currencies.  The Naira devalued, jacking up cross-sectoral costs.  So, if inflation is moderating, even while these twin-triggers are still on, it logically reflects an economy structurally re-adjusting — and improving.  That supports the president’s claim that the worst is over.

    Still on cheering statistics.  For a near-mono economy that relies on crude oil sales, non-oil exports have virtually torn through the roof.  Latest numbers show that non-oil export revenue now accounts for 48% of the total, though oil and gas still dominate at 52%: with Nigeria now exporting refined products: diesel, petrol, aviation fuel, etc.

    Despite that, non-oil exports have closed the gap to this almost 50:50 — and that from virtual nowhere!  In just more than two years, non-oil revenue is boosting Nigeria’s trade surplus.  Indeed, non-oil earnings for September — which was N3.65 trillion — towered above May earnings by 411%, a feat the president called “record-breaking”. Export of made-in-Nigeria manufactured goods soared by 173%!

    On debt capital — crucial to accessing quality loans: borrowed cash to build critical physical and social infrastructure — the improvements are no less impressive.  Debt service-to-revenue ratio has improved from 97% in 2023 to less than 50% now.  That ways-and-means advances are now history underscore the booming fiscal health of the economy.

    From more secure debt capital, to improved tax revenue.  From less than 10% in 2023, tax-to-GDP ratio has crested at 13.5% in 2025.  But that is still lower than the African average of 15%.  By 2027, the government projects an 18% tax-to-GDP ratio, well past the African average.  With the revamped tax laws debuting from January 2026, this target appears very much attainable.

    Aside the fiscal and monetary plain, the numbers from infrastructure, the hard core economic driver, are no less heart-warming.  Rail infrastructure, from the president’s statistics, has grown by 40%; water transportation, by 27%.

    The 284-km Kano-Katsina-Maradi standard gauge rail is powering to completion. When it is completed, linking Ibadan to Abuja would complete the Lagos-Ibadan-Kano standard gauge rail.  That African Continental Free Trade Area (AfCTA)-friendly rail, modelled after the old trans-Sahara trade route, should gift Nigeria huge coast freight business, heading into land-locked neighbours.

    The Lagos-Ibadan corridor is already adding great value to mass passengers and freight. Work goes on, on the Port-Harcourt-Aba-Maiduguri narrow-gauge eastern rail network too, for which the Federal Executive Council (FEC) just released US$ 3 billion.  This rail rebirth will truly rebirth and expand the Nigerian economy.

    Expansion and repair of decayed road stock go on apace: the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Highway, just to list two legacy road projects.

    Indeed, this strong infrastructural push cannot be belittled.  Unlike previous reforms under President Olusegun Obasanjo and President Goodluck Jonathan that delivered collapsed infrastructure, despite relatively higher crude oil earnings, the current reforms tick with infrastructural expansion.  The Tinubu administration has earned due praise for continuing with the infrastructure reset of the Buhari years.

    On infrastructure, the president was insistent: “We must build the roads we need, repair the ones that have become decrepit and construct the schools our children will attend, and the hospitals that will care for our people,” he stressed.  Reforms that deliver big on infrastructure, physical and social, should be lauded and encouraged.

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    Now, with all of these statistical glad tidings, does it mean the country has arrived that comfort zone?  Not by a mile!   The president himself admitted that much.

    The sweet-sour oil subsidy removal may have opened the spigot for far more cash into Nigeria’s three governmental tiers.  But it hasn’t quite translated into a welfare boom for most. Indeed, the masses that received “little or nothing” — in the president’s exact words — from oil subsidy have not exactly enjoyed a boom from the new non-subsidy regime.

    Therein then lies the gravest challenge for the government — with its foes ever ready to weaponise the pains in the land; and demonise its gains with unending shrieks and anguish.  While the opposition must play its politics — the government itself would have acted same in their shoes — President Tinubu must buckle down to further taming inflation, at least on food items and transport costs.

    In fairness, food inflation is climbing down.  But in many areas, it’s still higher than wages.  That means the wage of many — if not most workers — can’t really take them home.  Whoever listens to tales — no matter how sweet! — on rumbling tummy!

    That grim reality may have prompted a N330 billion safety net conditional cash transfer to eight million poorest Nigerian households — very laudable!  But until the cash ease is felt by those at the top of the poverty scale and the vanishing middle class, the government will still stay condemned to serenading its glorious statistics, with not a few looking askance.

    Other areas the government can do far better are electricity — and security.  But first, this presidential admission: “We do not have enough electricity to power our industries and homes today” — candid!

    Yet, it must be admitted: power appears generally more stable but not at that level that should sustainably power an economy to heights never seen. President Tinubu should take power as a personal challenge.  The economy can’t hit US$ 1 trillion by 2031 with shambolic electricity.

    On security, there have also been significant improvements.  But such is the asymmetrical warfare of terror that it takes one terror hit, in one month, to rubbish the security progress of the last three years.  The government should therefore keep pressing hard to root out these mindless felons.

    Federalising the Police is critical to the new security beginning.  The president, to be sure, has shown doughty commitment to state police.  But he should use his bully pulpit to push state houses of assembly beyond the finishing line.

    Across the board, the fundamentals are changing for the better.  So, organised Labour, instead of ‘Aluta’ fixation with wage increases, should closely follow the numbers, galvanise their members to mega-productivity, in concert with the emerging better fundamentals. If, for instance, the economy expands four-fold, no government can dispute doubling wages as of right, citing the bogey of inflation.  If they do, Labour can butt them down with clinical numbers.  Now, is the time to start tracking and acting. As it is now, sans the political aristocrats, about everyone is underpaid in this economy.

    As the president said, Nigeria since 1960 has gone through good and bad times.  But for once, from these reform pains, a promising window appears opening to get it right. We — the government and the people — must ensure we don’t clap that window shut.

  • A cop among cops

    A cop among cops

    •Parry Osayande was a gift and model for security

    The greatness of a person may be a concatenation of outstanding acts, a culmination of modest triumphs, or a single earthquake exploit, or a quiet heroic or simply the example of a lifestyle. It could come as a leader in an epic tale, a choreographer of an action, or the man in the centre of it.

    Greatness does not come in a formula. Parry Osayande, who passed on recently, ended his career, as deputy inspector- general of police. He did not head the Nigeria Police. But in the annals of security history in the country, few can equal his accolade.

    He is famously remembered as the mastermind of a capture and eventual execution of a savage mastermind: Lawrence Anini. The daredevil bandit was a slim, easily undistinguished frame of a fellow who held the then Bendel State and its environs captive for a long time.

    He was more dreaded than any soldier in the country, even though we were under a military rule. Travellers dreaded the highways. Homes turned off their lights at night but not their eyes. Gate men contemplated him with trepidation. Fear grazed business and goods. Banks shook not because of the fluttering naira on the counters but the bankers themselves who were not sure if the next entrant was a man with a gun and a gang.

    He was the devious touchstone of a rock star. His robbery acts read like movie scripts. There were tales of police officers on the run from him. Vigilantes could not pray to play host to him. One day, before television cameras, before the convening of the top military government’s Armed Forces Ruling Council meeting, then military president, General Ibrahim Babangida, sneered at the then inspector-general of police, Etim Inyang. Then the general quipped: “My friend, where is Anini.”

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    It was one of the big quotes of his era, and it encapsulated official unease about the bandit. Anini was to lard that time with his quote before he faced firing squad: “E be like say I wan’ run mental.”

    It was the police commissioner in charge of Bendel State, now split into Edo and Delta states, that took on the task of tackling the bear. Osayande worked with his men who eventually cornered him and felled him with a bullet, though not mortally. He was arrested with his partner, Monday Osunbor. It was the high point of Osayande’s career. It cannot but be the high point of any career. That informed the accolade of the Edo State Governor Monday Okpebholo when he passed on.

    “The name Parry Osayande is synonymous with courage, discipline, and a sterling commitment to justice. His legendary exploits during his tenure as Commissioner of Police in the then Bendel State, especially in confronting the high-profile criminal gangs of the 1980s, remain a benchmark for police operational excellence in our country.”

    He was also the commissioner of police who helped to quell religious rage on the streets of Bauchi State in which Christians and Muslims went after each other burning churches and mosques as well as shops and houses. Scores died in the mayhem.

    Few know that he was in the trenches to mow down the Agbekoya Riots in the then Western Nigeria when farmers protested taxes. He was the Aide de Camp to the gallant soldier and governor of the then Western Region, Lt. Col Adekunle Fajuyi, who died during the Nigerian crisis of the 1960’s.

    The example of Osayande is a model for today’s armed forces. Today, we have bandits running riot in parts of the country. We need to see police officers take on such exploits. Osayande was a cop who made corpses of hoodlums. So should they.

  • Man of many parts

    Man of many parts

    •Olu Akinkugbe bows out at a ripe age of 97

    Chief Oludolapo Ibukun Akinkugbe was a colossus who walked through the business landscape with his footprints boldly planted on the sand. He was primarily and professionally a pharmacist. But, by the time he bade the world bye on September 22, 2025, at age 97, he had made his mark in many sectors of the economy.

    Starting as a pharmacist at Central Hospital, Lagos, in 1950, and establishing his own pharmacy store, Palm Chemists, in 1952, he never looked back in leading the pack of indigenous pharmacists.

    He was the pioneer chairman of Spectrum Books, a publishing firm, a director of Barclays Bank, chairman of Procter and Gamble, an international pharmaceutical company and West African Portland Cement.

    He was equally involved in birthing the IBTC, Chartered Bank, R.T Briscoe and Nigerian Tobacco Company (NTC), among many others. He did not stop at that, he was also involved in the Nigerian Union of Pharmacists where he was the general secretary in the 1950s, and later the fourth President of the Pharmacists Society of Nigeria (PSN).

    Nigeria was lucky to have had a man like Chief Akinkugbe, acclaimed as a man of integrity who was committed to national development as President Bola Tinubu said in his eulogy at his death. Although he was a self-effacing man, he still got involved in public service as he served on the economic advisory board of his state, Ondo, and at the federal level, where he demonstrated his patriotism.

    The greatest legacy that the boardroom guru gave to Nigeria was his uncompromising commitment to business ethics. This is one thing missing in the private and public sectors of the country.

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    Most people are out to fleece the country, contending that they are merely taking their share of the national cake. At a time that we are reviewing the contribution of the late Chief Akinkugbe to national development, young Nigerians have to look into his impeccable works as chairman of the University of Ife (later Obafemi Awolowo University) and the Morgan Wages Commission.

    To shape Corporate Nigeria, he made his mark in the Ibadan Chamber of Commerce, and as Vice President of the National Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA).

    He was also one of those who thought it wise to bequeath the Lagos Business School to the nation to ensure that the model of modern business is firmly planted in the country.

    Chief Akinkugbe was lucky to have received the gift of long life, which he fully used to the good of Nigeria. He believed in the institution of the family, and showed good example by his marriage to Janet Akinkugbe that yielded children they were proud of.

    The couple was united for seven decades and, when his wife died on September 11, just 11 days before him, Chief Akinkugbe said, “Janet has been my partner in everything; whatever I achieved, I achieved because she stood beside me”. This is one other example he showed to the younger generations.

    Other pioneers in the corporate world now have a duty to guide those currently flying the flag. If Nigeria is to soar high, it will be because the private sector fully aligns with the public service. Time is running out as there are a few Akinkugbes to guide the young ones.

    Chief Olu Akinkugbe, born in Ondo, Ondo State, on December 5, 1928, had played his part. Truly, it could be said that he came, he saw, and conquered.  He was certainly a man of many parts.

  • Trauma centre

    Trauma centre

    •A good idea but the FRSC does not seem capable of handling it

    Nigeria has one of the highest accident rates in Africa and indeed globally, after India, according to World Health Organization (WHO) statistics. The statistics is startling at the ratio of 21.4 deaths per 100,000 population. With most accidents come not just deaths but debilitating injuries, sometimes leading to socio-economic impacts that affect the country. Property losses and damages equally form huge parts of accidents.

    In the light of this, it is commendable that the Federal Road Safety Commission (FRSC) is advocating for the establishment of a world-class Trauma Centre to help victims and their families. This initiative was announced in Abuja by the Corps Marshal, Shehu Mohammed, as the agency prepares to host the International Road Crash Victims Africa Conference (IRCVAC), in November.

    We commend this initiative seeing that it is long overdue and would be of immense benefit as far as saving lives is concerned. No action taken to save lives can be said to be too much.

    Accidents are facts of life but while efforts must be made to minimise them, potential victims and their families would greatly benefit from well-equipped and well managed trauma centres. Presently, many lives are lost because of lack of such centres across the country.

    AS a matter of fact, we believe that a country like Nigeria, with her huge population and vast road networks should not be talking about just one trauma centre, but trauma centres, perhaps one in each of the six geo-political zones. These can subsequently be increased depending on research and data about accident hubs in the country.

    However, while we applaud the FRSC initiative, we are skeptical about the agency’s capacity to pull off such a capital-intensive and monumentally complex project. The agency that has been saddled with the issuance of drivers’ licences as one of its core duties has so far delivered below average performance.  Many applicants wait for years to collect their driver’s licenses. If that is such a herculean task for the FRSC, how feasible is this trauma centre going to be with the commission on the driver’s seat?

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    The commission’s personnel, who are also saddled with the responsibility of checking crucial vehicle documents like the driver’s license, vehicle registration, roadworthiness certificate, and insurance certificate as part of their mandate to ensure road safety do not seem to be on top of their game on these scores either. Not only do we have many people without vehicle particulars on our roads, vehicles that in the good old days would have been marked ‘Off Road’ are still plying our roads today, despite the presence of FRSC officials on them.

    While we commend the FRSC for this idea of having a trauma centre, we believe that the commission cannot handle the project, at least for now. We therefore suggest that governments at all levels should take responsibility for the trauma centres.

    Accidents need to be seen as what they are: a national emergency because every human, no matter their status, can eventually become a victim of accidents or other natural disasters that would necessitate the use of a well-equipped trauma centre or other alternative paramedic outlets.

    In the meantime, let the FRSC personnel concentrate on their core duties and ensure that accident rates are drastically reduced in the country.

  • Amber news

    Amber news

    •Kaduna State deserves plaudits for security upgrade

    The news that Kaduna State has had good news in terms of security may no longer be news. That is weird in a good sense since that state, barely two years ago, was in bed with the macabre: bandits on a roll, rapine and bloodshed as routine staple of its life.

    The good news from Kaduna State in the past couple of weeks as it bears an international resonance was its liberation from a colour-coded infamy.

    The United Kingdom that has kept its eyes on the nervous unravelling of the state to violence decided the state had turned the corner to peace. It upgraded the security status of Kaduna State from red to amber. It capped it all with an advisory that its citizens could now travel to the state without fear, even though it gave a caveat to be wary of certain rural areas. That is why it is still amber and not green.

    The state had been painted red since 2022. No area of the state was out of danger, including its airport. Areas like Birnin Gwari and Giwa were danger zones to citizens who were not bandits. That same year, presidential candidate Bola Ahmed Tinubu, as he then was, travelled with what looked like an army brigade to that local government as part of his campaign stops. Its main cattle market was shut down for about a decade. That part of the country has received a shot in the arm for commerce and other activities.

    “The UK Government remains firmly committed to supporting Kaduna State’s development aspirations, and I am delighted to be here in Kaduna again with government colleagues, our delivery partners, and non-government stakeholders to continue to chart the way forward,” UK’s Head of Development Cooperation at the Foreign, Commonwealth and Development Office (FCDO), Cynthia Rowe, said.

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    She announced the upgrade: “We will do this by deepening private sector involvement and working with agencies such as the Kaduna Investment Promotion Agency (KADIPA) to boost investment across critical sectors of the state’s economy for a fairer, more resilient economy.”

    The UK’s Head of FCDO signed the Kaduna State Mutual Accountability Framework (K-MAF) dialogue when she announced her country’s recognition of the improved security situation in the state. This is a huge validation and an eloquent testimony to what keen observers of the state have come to accept.

    The status did not come without vision and effort, and it is predicated on what the state governor had envisioned in his Kaduna Peace Model that he enunciated when he came to office.

    In February 2024, he signed the Kaduna State Security Trust Fund Bill into law, establishing a dedicated fund to buoy security agencies with modern gizmos like drones, armoured vehicles, and intelligence tech without prejudice to federal allocations. It extended its hands of cooperation to the private sector.

    Governor Uba Sani worked in tandem with federal forces through the office of the National security Adviser Nuhu Ribadu to include the Nigerian Army and Air Force. They undertook joint operations and dispatched bandit kingpins like Boderi, Baleri, Sani Yellow, Janburos and Buhari.

    Other than Birnin Gwari and Giwa, other communities like Kajuru, Kauru, Kachia, and Igabi fell to the net of peace.

    Governor Sani described the news as “a major vote of confidence in Kaduna’s resilience and reform agenda.” He was quick to say that bringing peace is a holistic effort, including building peace across the diverse peoples, tribes and faiths, running a government of inclusion, engaging communities and building infrastructure and improving education.

    It is a blending of the various ingredients that build a society. It is amber, though green is the ultimate, and making peace is always a work in progress in any society.

  • Nigeria at 65

    Nigeria at 65

    • Is the country ready to set forth now?

    Is there a reason to celebrate the 65th anniversary of Nigeria as an independent country?  Some doubt it, mainly because of the many twists, turns and rocky rides. But, others contend that there are reasons to mark the landmark because the country has survived despite so many challenges that could have truncated the journey.

    But, here we are.

    The first indication that it would not be a smooth ride came soon after the Union Jack was lowered at the complex later named after the first Prime Minister, Alhaji Abubakar Tafawa Balewa. Chief Obafemi Awolowo could hardly hide his indignation in his memoirs as he recalled that he was tucked in a corner at the event, far away from where other main actors in the independence struggle sat. Pettiness at play.

    Since the National Council of Nigerian Citizens (NCNC), one of the three major political parties opted to align with the Northern People’s Congress (NPC), leaving the Action Group (AG) in the lurch; it was obvious that some dirty fight lurked. Federal might was unleashed to dislodge the AG from the Western Region where it held sway, with a breakaway faction led by Chief Samuel Ladoke Akintola propped up to seize control.

    The process started as early as 1962, when an externally-induced implosion was made to hit the AG like a dynamite. Soon after came the Coker Commission of Enquiry, the Treasonable Felony Trial, restriction and later jailing of the AG leader and founder, Chief Awolowo.

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    Those not blinded by partisanship knew going that route would not end well as Awolowo was a cult figure in the Western Region. Before the Federal Elections of 1964, the alliance between NCNC and NPC had disintegrated. Two broad alliances went into that election. The NCNC and the Akintola splinter group formed the Nigerian National Alliance (NNA) while the NCNC and AG formed the United Progressive Grand Alliance (UPGA). Obviously AG was the party of the Western Region, but the federal elections and the consequent regional election of January 1965 were ignobly rigged in favour of the NNA to dislodge the AG.

    Politically, the trend has continued since then. Each election was hotly contested and rejected by the losers. It could hardly be said that, beyond electoral infrastructure put in place at so much cost, Nigeria has failed to mature on election matters over the years.

    Apparently, for every action, there is a reaction. The manipulation of the polity led to the military coup of 1966. And, consequently, there was the pogrom, the counter-coup of July 1966 and the civil war that boiled over the following year. In the process, no institution of state was spared the accompanying desecration, including the military.

    Although General Yakubu Gowon who was head of state when the war ended in January 1970 announced that there was ‘’no victor, no vanquished’’, it was obvious that the Biafra secession bid had been quashed and there were consequences. Till date, the South East that sought to leave the union has continued to complain about marginalisation; at least politically.

    Such political mistrust among the various parts of the country could not but have affected the economy, social relations, and thus, development. Insecurity, though diminished in some parts, is a concern in other parts of the country.  In the North East, there is the Boko Haram and Ansaru insurgency that has raged for more than 16 years. It has claimed so many lives and herded many into poorly funded refugee camps. Happily, two kingpins of the groups have been nabbed. It’s progress.

    It has spread to the North Central, especially in Plateau and Benue States, where some schools and targeted communities have not been spared. In the region, it took the form of religious intolerance, well-armed herders taking on farmers and wanton destruction of farms, homes and lives by terrorists. In the North West also, banditry and kidnapping have been the order of the day as enemies of state and criminals have continued to unleash their fury on the people. Kaduna State brandishes hope in the region and there may be a berth of peace in places like Zamfara and Katsina where there are still challenges.

    In other parts of the country, the South West and South South, kidnapping for ransom has been on a lower scale. In all cases, the police and armed forces have recorded advances. Much work remains. The destruction of livelihoods has pushed more Nigerians into the poverty net.

    Thus, until the Tinubu administration courageously came up with measures to check the periodic eruption of economic recession, it was as if successive governments, military or civilian, had no clue what to do. For two years now, the economy appears to have become stable, though it still has a long way to go.

    The President said at the coronation of the Olubadan of Ibadan, Oba Rashidi Ladoja, last week, that the economy has turned the bend. But, has it really? The macro-economic indices suggest that it has, with headline inflation constantly heading South month-on-month for about half a year now, and the GDP recording sometimes record increase. But, it is yet to percolate to the common man who, therefore, finds it difficult to believe the authorities. It is expected that the result would be more visible in 2026.

    The story of the nation since independence has been a talent of official squandermania and brigandage, with little vision to plan and save. The subsidy scam and currency manipulation brought the economy to a state where we borrowed to pay routine government bills. Hence the task of rescue before the Tinubu administration thst has headed off the economic apocalypse with his reforms.

    Obviously, where the economy has been in the doldrums for so long, the health and education sectors could only have received some battering. Neither has received up to seven per cent allocation from the budget in the past 20 years. Political leaders express disgust for the local health institutions by patronising foreign hospitals for the most common ailments.

    When seizing power from the Shagari administration in 1983, General Muhammadu Buhari described our hospitals as ‘’mere consulting clinics’’. Not much has changed since then, compounded now by exodus of doctors, old and young, who have chosen to export their services to other lands. Nigerian students, too, sell whatever is available to obtain higher education abroad. Until of course, the NELFUND initiative offering loans to students of the poor.

    It should not be all about lamentations about missed opportunities. A lot could be done to salvage the situation as there is unanimity of opinion among experts that Nigeria has an abundance of human and material resources to draw it out of the wood. It has a population, all of about 230 million, mostly young people who are energetic and forward looking, as against 30 million in 1960. This is an asset that most countries lack.

    It also has so much solid minerals in all parts of the country, mostly waiting to be tapped. Those being tapped are by criminals and foreigners. Crude oil that has been a blessing to other nations has been largely doom to Nigeria, owing to poor management and monumental corruption. Of late, though, crude oil output has ticked up due to work by our armed forces to curb criminals stealing our black gold.

    If corruption is checked and appropriate persons are employed to ensure that Nigeria joins the league of developed countries, in a short while, Nigerians would be proud of their country again and we can stand tall in the comity of nations. The Central Bank of Nigeria’s handling of foreign exchange, the salvaging of corrupt practices have diminished instances of corruption as attested to by our captains of industry.

    Nigerians should realise that pulling in different directions cannot help them. As we move towards the seventh decade after independence, we should realise that we owe future generations, and indeed the black world a duty to redeem our dignity by killing corruption and tapping resources available for development.

    As Walter Rodney said, “every generation must, out of relative obscurity, discover its mission, fulfill or betray it.” The reforms of the Tinubu administration is showing promise on many levels beginning with  financial engineering whose success can trigger a wholesale rebirth. For instance, not long ago, critics were jittery and even gloating that the naira would dive down to N2,000 to a dollar. Now it’s below N1,500. Not there yet, but a sign we can reclaim our country.

  • Paradigm shift

    Paradigm shift

    • Gov. Mbah’s proposed 1,000MW coal-power generation is refreshingly different

    If all Enugu State is getting from the country’s national grid now is a paltry 70MW, then there is nothing wrong in describing the state government’s proposed target of 1,000MW as ambitious. This is 300MW over and above the 700MW that the government had in mind as at last year.

    But that was then. The dream is even bigger today, with the state government eyeing about 1,000MW generation capacity.

    What is more? The proposed 1,000MW is expected to be powered with coal, a mineral resource that the state has not only in abundance, but also of a high quality.

    Governor Peter Mbah disclosed the new plan as guest of the Nigerian-British Chamber of Commerce (NBCC) “Meet The Governor Series,” where he presented a business case for investing in Enugu State. The event held in Lagos on September 25.

    “Our target is to see how we can use our coal to generate at least 1,000 megawatts of power. We do have technology today that makes coal utilisation less adverse to the environment. Essentially, that is the direction for us”, the governor said at the forum.

    Enugu State may not be the first state in the country to take advantage of the further liberalisation of the power sector by the immediate past Muhammadu Buhari administration, and consolidated with the Bola Tinubu government’s Electricity Amendment Bill.

    But the state, particularly under the Mbah administration, has shown so much enthusiasm in the power sector.

    One critical factor that the state government wants to leverage on is its abundant coal deposits. This is significant in two ways: one, it speaks to the diversification of the source of power supply in the country, a thing many power consumers have always craved for.

    Second, it puts into use a nearly-forgotten mineral resource that the south eastern part of the country was renowned for: coal. And the governor has rightly noted that they would no longer treat the resource as a “stranded asset” without adequate compensation.

    We are happy to note Gov. Mba’s efforts to get his state off the national grid which has become antiquated and inadequate to cope with the demands of a power-starved country like ours.

    It was this passion that drove the Enugu State Electricity Regulatory Commission (EERC) to come up with its own template on power tariffs, a thing which led to brickbats between the agency and, by extension, the state government, on one hand, and the generating and distribution companies, on the other.

    The two entities disagreed with the EERC tariff template on the basis that the agency could not determine the price of power it does not generate.

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    This would sound a reasonable argument but it does not wholly explain the situation. Not a few Nigerians see exploitation, incompetence, corruption and bad faith in the modus operandi of the present players in the power sector, all of which Nigerian consumers are fated to pay for.

    So, it would not be a bad idea for people who want genuine transformation in the power sector and are indeed desirous of determining the tariff, to go into actual power generation.

    This is part of the beauty in the Mbah 1,000MW proposal.

    Enugu State government should press on with the proposal. Indeed, power generation should be a major component to consider by any investor who truly wants to be in charge in the power sector.

    We have said it several times; and it bears restating that Nigeria cannot go far with its ambitious programmes if things are left entirely in the hands of the present players in the sector. If 13 years after the so-called liberalisation of the sector we are where we are, we need no expert to tell us to change tactics.

    We can understand Gov. Mbah’s plight: he has ambitious programmes to grow the state’s economy from $4.4 billion to $30 billion in eight years. Here, power supply is key.

    The governor needs all the support and encouragement. Others should emulate him.

  • CBN rate cut

    CBN rate cut

    •Although it falls far short of expectations, it is still laudable

    It is not for nothing that Nigerians have generally welcomed the reduction of the Monetary Policy Rate (MPR)  by the Monetary Policy Committee (MPC) from 27.5 per cent to 27 percent at the committee’s 302nd meeting last week. Although it was something that Nigerians had long hoped for in the last few years, the exigencies of the economy had made it practically unrealistic.

    According to Central Bank of Nigeria (CBN) governor, Yemi Cardoso, the MPC decision was underpinned by “sustained disinflation recorded in the past five months, projections of declining inflation for the rest of 2025, and the need to support economic recovery efforts.”

    In other words, the time was finally right.

    Among other reasons, he noted that headline inflation had slowed to 20.12 per cent in August from 21.88 per cent in July. Food inflation, he also reported, fell to 21.87 per cent from 22.74 per cent, while core inflation eased to 20.33 per cent from 21.33 per cent.

    On a month-to-month basis, inflation dropped sharply to 0.74 per cent in August compared with 1.99 per cent in July.

    There were other notable decisions. The MPC also adjusted the Standing Facilities corridor around the MPR to +250/-250 basis points to improve the efficiency of the interbank market and strengthen monetary policy transmission. The committee further introduced a 75 per cent Cash Reserve Ratio (CRR) on non-TSA public sector deposits for enhanced liquidity management.

    For commercial banks, this was adjusted to 45 per cent while retaining that of merchant banks at 16 per cent. The Liquidity Ratio was left unchanged at 30.00 per cent.

    Said he of the cut in MPR: “This reduction is the first under my leadership and the first in five years”; noting that “the last time the MPC cut its policy rate was in September 2020 when it dropped from 12.5 per cent to 11.5 per cent.

    As would be expected, members of the organised private sector see the reduction as not only “marginal but insufficient to ease the credit squeeze on their businesses”. For Nigerians as a whole, it seems unlikely that they would be particularly enthusiastic about any cut short of returning the reference rate to a single digit.

    Here, Nigerians would recall occasions in the past where suggestions were actually made in some quarters that the rate be legislated by fiat!

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    While varied positions on the subject would seem understandable, they merely highlight the misconceptions about the CBN’s role, particularly its dilemma in its statutory role of keeping inflation under control while ensuring unimpeded growth on one hand, and the daily frustrations of economic actors who have businesses to run, and must do it competitively under a constantly looming shadow of foreclosure, on the other.

    In all of these, we cannot but commend Cardoso and his team for keeping admirably calm, while keeping their eyes on the ball.

    For us, however, good as the trend is, the work has only begun. In fact, there is still much to be done to get the economy back to full recovery. Liquidity management remains a huge challenge even more so now that state treasuries are literally awash with Federation Account Allocation Committee (FAAC) cash.

    We expect the apex bank to continue to keep a keen eye on the monster of inflation to prevent a relapse to the immediate past. As for interest rates, we expect things to moderate a bit to reflect the trend.

    On the whole, we urge the state governments in particular to focus on those expenditures that could engender real growth in the economy; surely the time for bogus expenditures should belong in the past.

    If anything, the expectation is for both the fiscal and monetary authorities to continue to work together to deliver on growth that Nigerians can truly be proud.

  • Shadow-chasing

    Shadow-chasing

    •Post-emergency Rivers fixation with “probe” is a grand distraction

    Openness, transparency and accountability stand as a sacred tripod for democracy.  Those demanding accountability, during the Rivers emergency, act within their rights.

    Still, a sacred principle is one thing.  Pushing it with suspect motives is another. That is why we push for caution in this specific Rivers case.

    Any people that fail to learn — and get wiser — from own history toy with perdition.  Rivers found itself at an emergency pass because it couldn’t peacefully run its affairs.  With all due respect, if the youths were rash, the elders too were far from wise — given the zero-sum attitude some of them manifested during the Fubara-Wike feud.

    Bad sense prevailed, all round.  So, neither the Administrator nor the President that sent him was the enemy here.  The Rivers elite were, and the earlier they accepted blame, and quit pointing fingers, the faster the state would recover lost grounds.

    Still, Emergency Rule Administrator, Ibok-Ete Ibas, is not beyond query for how he spent public money during his tenure.  But the process must be right; and be shun of a cheap bogey, from whichever camps.  Everyone knows the cheapest bogey in Nigeria today is hanging “corruption” on any public officer, and later search for proof — if any.

    Still, not even ringing bad faith should cripple doing the right thing.  But the process has to be right and clinical — not some drawn out drama, that emotively soils everyone yet hardly proves a thing.

    So, if the Rivers assembly must “probe” Ibas, it must get its concept right.  Getting the concept right will drive getting the process right.  If by probe it means galloping into town like some wakened sheriffs and shelling out subpoenas, it may as well prime itself for a wasteful exercise.

    Yes, it would titillate the streets.  But beyond that, what?  Besides, what if it summons Ibas and he goes to court to stonewall such?  Precious time wasted on a journey to nowhere?  How does that benefit Rivers and its long-suffering people?

    Iba’s response to the “probe” has been hard but right: the assembly did not emplace emergency rule.  So, under what basis is it probing it — legislative impunity?  Besides, the Rivers assembly can’t profit from own fumbling and bumbling.  Had it been more level-headed during the crisis, it wouldn’t have threatened the governor and deputy-governor with double impeachment.  That wouldn’t have sparked the tension and likely violence that forced the emergency.

    By that same logic, the so-called civil society groups, now threatening thunder and brimstone, and calling the former administrator names, also miss the point by goading the reinstated governor to some highfalutin probe.  If the governor himself had not acted a failed emperor, riding roughshod over the legislature, until a Supreme Court verdict shot him down, he wouldn’t have brought emergency rule upon himself.

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    In fairness to Governor Siminalayi Fubara though, he has been pacifist and reasonable since his reinstatement.  He should keep it that way, lest he be misled into another avoidable crisis.

    Still, nothing here suggests hostility to a credible probe, shorn of cynical drama and bad faith.  The Rivers assembly, via its Public Accounts Committee (PAC), can work closely with the Rivers State Auditor-General to scour earnings and spendings during the six-month interregnum, raise queries and demand legitimate answers.  But even that is limited to the Rivers internally generated revenue.

    If still convinced of any alleged fiscal rascality, they should approach the National Assembly, the legislative cover for the emergency, after the president’s declaration. The National Assembly okayed the Rivers budget and did all the legislative oversights, in the absence of the Rivers assembly.  Again, the National Assembly PAC would work with the federal auditor-general, on the necessary queries needing answers.

    Besides, in the quest, both the National Assembly and the Rivers assembly — and even the governor — can invite the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), to further dig and bring whoever stands accused to justice.  That is how to get the process right.

    Civil society groups baiting Rivers into fresh chaos under the guise of “accountability”, should let Rivers breathe!  One wrote a flabby, lengthy piece, with a highly suggestive headline: “The search for missing N300 bn under a retired naval officer appointed to make peace.”  There is no proof of any “missing” money yet, beyond its wild innuendoes.  Others declared the emergency period “illegal”.  Again, no court has arrived at that.

    If these bodies can’t proffer a solution, they shouldn’t create further problems.  They should stop distracting the Rivers people, who need to focus to cover lost grounds.