The Nation Newspaper

Category: Editorial

  • Antelope on the runway

    Antelope on the runway

    • Sounds absurd? But it happened in Asaba

    It would not be the first time that animals would stray into the runway in some of the airports in the country. We hope it won’t happen again because we don’t have to wait until it becomes fatal before doing the rightful.

    We are here talking about the large antelope that disrupted an Air Peace flight on May 10, at about 5.41 local time, right on the runway of Asaba Airport. The Nigeria Civil Aviation Authority (NCAA) said the aircraft decimated the animal and the jet eventually grounded.

    The Airbus 320 aircraft, marked 9H-EDO, Flight No: P47861, had 135 passengers on board and was said to have been wetleased by Air Peace. A source said the aircraft was to fly from Asaba to Lagos.

    NCAA’s Director of Public Affairs and Consumer Protection, Michael Achimugu, confirmed the incident with a post on his X handle. “Monitoring reports yesterday indicated that an Air Peace aircraft ran into a large antelope, decimating the animal and leaving the aircraft AOG (aircraft on ground).

    “As a result, flights meant to be operated by this aircraft would naturally be disrupted, even though engineers are on the ground to assess and fix the plane. Passengers waiting would naturally be infuriated.’’

    When an incident like this happens, the first question that naturally comes into mind is whether the airport has perimeter fencing at all. What of security fencing? What about its wildlife control programme? In short, how secured are our airports? Are they insured?

    Unfortunately, no agency has claimed responsibility for the negligence that led to the unfortunate incident. Asaba International Airport is managed by Asaba Airport Company (AAC), a concessionaire hired by the Delta State government (owner of the airport) for the development, operation, and management of the facility for 30 years.

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    In a sense, therefore, one would think it is the responsibility of the concessionaire to ensure that the requisite provisions for safe flight are available at the airport. 

    But experts said the incident was a clear shortcoming on the part of the regulatory agency, operators of the airport, and the Federal Airport Authority of Nigeria (FAAN).

    As a matter of fact, one of the experts, Group Captain John Ojikutu, who retired from the Nigerian Air Force after 26 years service; and a former commandant of the Murtala Muhammed International Airport, Lagos, said it was the responsibility of the NCAA to ensure that the airport has the required fencing to bar people or animals from running onto the runway.

    Once the airport is built in the country, especially if it is not owned by the federal government, it is the NCAA and FAAN that must certify. However, FAAN and NCAA are not obliged to run the airports day by day. In the case of the Asaba Airport, the fencing already existed before the antelope incident. It was negligence that resulted in mishap. It was therefore the local authorities that must take the blame.

    Air travel, unlike local travels, cannot be left to the whims and caprices of just anybody who establishes an airport. It is guided by international best practices. Globally, the sector is regulated by the International Civil Aviation Organization (ICAO), a specialised agency of the United Nations, which relates with its 191 member-states and not with state governments or individuals that own airports. ICAO deals primarily with the NCAA, which is the aviation regulator in Nigeria and it operates in line with ICAO Standards and Recommended Practices.

    The NCAA is responsible for ensuring aviation safety, security and economic regulation in accordance with ICAO standards. But local airports authorities must show competence.

    It is an embarrassment for animals to be straying into runways in the country. It happened in Akure, Port Hacourt, Sokoto. And now, Asaba. It should not happen again.

  • Violent violation

    Violent violation

    • Attempted rape of minor in Abia should not go unpunished

    A case of brutal sexual assault in Obete Nchina village, in Obingwa council area of Abia State, further highlighted the problem of female-targeted gender-based violence (GBV) in the country. A 33-year-old man, Chinazum Nwaubani, was reported to have attacked a 14-year-old girl, Felicia Anaba, with a machete following her resistance to attempted rape, leaving her unconscious as a result of blood loss. He has been arrested and detained. She has been hospitalised.

    According to the spokesperson for the Abia State Police Command, DSP Maureen Chinaka, the victim and her twin brother had gone to their father’s farm where the suspect, “a resident of the same village, allegedly approached them armed with a machete.” She said: “He reportedly grabbed the female twin, ordered her to lie down and remove her clothes. When she refused, the suspect allegedly attacked her with the machete, inflicting injuries on her head, back, and leg.” Her brother escaped and alerted the family, leading to the suspect’s arrest by the police.

    Normally, the suspect should be prosecuted for the crime. However, the victim’s father, Chijioke Anaba, fears that the matter may take a different turn and his daughter may be denied justice. He said his daughter “had fallen into a coma when she was rescued by the search party in the bush.” After taking her to the hospital, the family had “lodged a report with the police at the Eastern Ngwa Division.”

    According to him, “The police demanded N30,000 to investigate the matter, which I paid. They have arrested the suspect, but from what’s happening, I am afraid that Chinazum may be released from detention.” He added: “The police should do their job because the boy is now a risk to the people in the village. The police are saying he is a mad man but it’s not true.”

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    The police described his claims as “unverified allegations.” They said he should “come forward with evidence” to show that police personnel had demanded money from him to facilitate investigation of the matter and he paid such money.

    His claims are concerning. Police authorities should investigate them. Also, they should investigate the case of sexual assault and ensure that the perpetrator is prosecuted, and punished for a deterrent effect. 

    There is a need to send a strong signal that sexual assault is unacceptable. Importantly, the victim in this case is a minor, which makes the attack even more egregious and condemnable. Nigeria’s Child Rights Act (2003) defines persons under the age of 18 as children. Apart from the victim being a child, there is also the possible dimension of attempted murder, given the severity of the attack. Indeed, the victim’s father expressed fear that she may be disabled as a result of the deep machete cuts inflicted on her by the suspect.

    Gender-based violence against females includes sexual violence. Sexual violence includes rape; and attempted rape, as in this case. Any sexual activity with a child (any person who has not yet completed 18 years of age) is regarded as constituting sexual violence. Experts say it has devastating effects on the development of the child involved, as well as on his or her physical and mental health.

  • Good riddance

    Good riddance

    •Rejection of rotational presidency by the Reps is the way to go

    Good enough that the House of Representatives has shot down the bill seeking to introduce rotational presidency in Nigeria. Perhaps the motive for introducing the bill was altruistic; a bid to ensure that all parts of Nigeria have a sense of belonging, it was surely misdirected.

    In a country where the various people have, at one time or the other complained of being sidelined in national leadership, the representatives thought it wise to reserve seats at the table for each region or zone of the country.

    However, after a fierce debate, last week, the majority rejected the move as unproductive. So many similar moves had been made in the past.

    In the process, section 14 (3) on the federal character principle was inserted into the 1999 Constitution. To strengthen the principle, section 247 that allocates at least one seat in the Federal Executive Council per state was equally enshrined in the grundnorm. Yet, over the 26 years of the Fourth Republic, the federation is not any better integrated than it was ever before.

    The task of promoting unity in diversity that every administration has paid lip service to deserves more detailed and fundamental attention than the superficial treatment it is receiving. Even the states are not more integrated than the federation. In Benue, for example, the Tiv and Idoma are not more united than they were when the Igala were part of the equation. The Idoma claim they are being marginalised by their Tiv neighbours.

    In Taraba, you have the Jukun, Fulani, Tiv  and others always slugging it out, while in Plateau, disputes between indigenes and settlers that have consumed many lives in decades remain the order of the day.

    Even at the local government level, there are shouts of marginalisation among towns and wards. If constituent units are always at loggerheads over sense of belonging, how would rotating among zones be accepted as solution to the crisis at the centre?

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    We are convinced that the way forward is not in changing the law. If Nigeria is to settle for the Swiss model of federation by which each zone is represented in the presidency or the model proposed by the late Dr. Alex Ekwueme at the 1996 constitutional conference, it must be allowed to evolve naturally. Decreeing it into existence could be counterproductive. Since section 247 was incorporated in the constitution, to what extent has it helped in promoting development of the states? What have the ministers supposedly representing the states done to promote sense of belonging in the country?

    When, in the Second Republic, Dr. Ekwueme was the vice president, was the fear of marginalisation allayed? What should be encouraged for now is for the political parties to strictly follow the principle of rotation of federal offices among the zones. When this has been accepted in theory and principle, it could be introduced at the federal level. What Nigeria needs now is competence in governance. The choice should be left to the electorate who will gradually realise that only merit could promote development in the country.

    It is unacceptable that more than six decades after independence, Nigeria appears even more divided than when it was under British suzerainty. The world will not wait for us settling our squabbles, others will continue to move on while keeping our country at the level of producers of basic, raw commodities. Indeed, it is time to wake up.

  • CNG free kits

    CNG free kits

    •Any conversion partner caught shortchanging the initiative should face the music

    It is a matter for regret if it is true that one of the conversion partners of the Presidential Initiative on Compressed Natural Gas (PCNGI) had been selling conversion kits that should have been given to commercial vehicle operators free of charge. According to the initiative, the partner, Charles Goriola Yakub of C & L Smart Energy Limited, was consequently suspended from the programme in December, last year.

    Rather than simply debunk the allegation, the partner allegedly resorted to what the initiative called “sponsored smear campaign” against it.

    A statement by the Technical Adviser on Stakeholder Management and Public Engagement, Kenechukwu Chukwu, said “The attention of the management of the Presidential CNG Initiative has been drawn to the sponsored smear attack campaign by a certain group known as the Independent Conversion Sector. The known individual behind the group is Mr Charles Goriola Yakub of C & L Smart Energy Limited, Lokogoma, Abuja.

    “Records show that C & L Smart Energy was part of the PCNGI Conversion Incentive Programme up until December 2024, when it was suspended due to sharp practices of selling government kits otherwise meant to be installed for free for commercial operators, at prices ranging from N200,000 to N1.2m.”

    The initiative said it had extensive  video evidence and documentation as  proof to back its allegation adding that some of the victims of the illegal sale of the kits had come to report, not just that the items had been sold to them, but also that some of their vehicles were damaged as a result of the conversion.

    This is a weighty allegation that we do not expect to end at the level of brickbats. We are glad to hear that the PCNGI has reported the matter to the Economic and Financial Crimes Commission (EFCC).

    Some unscrupulous Nigerians have the uncanny habit of seeing every government project or policy as an opportunity for self-aggrandisement.

    The PCNGI was introduced by the Bola Tinubu administration as part of its palliative measures to cushion the effects of fuel subsidy withdrawal and the merging of the official and parallel foreign exchange markets which saw the pump price of fuel rising astronomically from N175 per litre to the present average of about N890.

    CNG is far cheaper and more environmentally-friendly than petrol.

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    Apart from reducing the cost of fuel on the average motorist, the initiative takes special note of commercial vehicle operators, hence its decision to give them the conversion kits free of charge. This should naturally translate to cheaper transportation fares compared with vehicles powered by petrol. Whether this is the situation or not is a different matter entirely.

    Suffice it to say that we take strong exception to a situation where a laudable scheme like this would fail just because of sharp or underhand practices.

    For us, however, this matter is still in the realm of allegation. We therefore call on the EFCC to thoroughly investigate it, with a view to ascertaining the truth.

    Where necessary, it should prosecute those who are suspected to be sabotaging the process, to deter others who might be thinking of toeing a similar path.

    We urge the PCNGI not to be deterred by any “sponsored smear campaign” or “electronic blackmail and cyberbullying.” It should rather be focused on its objective of helping to ameliorate the pains of the government’s economic reform for the overall well-being of Nigerians.

    We also seize this opportunity to appeal to commercial vehicle operators that have benefitted from the free conversion kits to let this trickle down to their passengers by way of reduced transport fares. This is the essence of the PCNGI.

  • Make haste

    Make haste

    • There’s no time to lose on proposed reforms in electoral framework

    Independent National Electoral Commission (INEC) Chairman, Professor Mahmood Yakubu, says amendments are imminent in the electoral law, and he is optimistic the changes will be effected before the 2027 general election. Much, he acknowledges, however, depends on the National Assembly (NASS), but he expresses confidence in the body’s commitment to the task. The electoral chief said his commission was working closely with the legislative assembly to reform the electoral law towards boosting the credibility of Nigerian elections.

    Speaking with journalists at the Presidential Villa in Abuja at the swearing-in of two new INEC National Commissioners by President Bola Tinubu, last week, he said the electoral body, in conjunction with other stakeholders, had reviewed the 2023 general election and drawn up proposals for improvement in future polls.

    “We engaged with the stakeholders. We came up with 142 recommendations. Out of these, eight require constitutional or Electoral Act amendment, and we discussed this with members of the National Assembly,” he stated, adding: “So far, so good. We’re happy with our discussions with them, and we are also happy with the speed with which they want to proceed so that we’ll have necessary amendments to the Electoral Act ahead of the 2027 general elections.”

    Yakubu recalled that the electoral commission recently sat down with the NASS committees on electoral matters at a retreat in Lagos to work at the amendments. “Thereafter, the National Assembly is going to organise a public hearing, and it is after the public hearing that a new bill will, at the end of the day, be submitted to the President for assent,” he said. “So, we’re working with the National Assembly on electoral reform. But at this point, I am not going to give you any more details; you will hear from the National Assembly whose responsibility it is,” he added.

    While the INEC boss exuded confidence last week about the pace of work on the proposed reform, he had at the retreat in Lagos on April 28 urged haste on reworking of the electoral law. “I wish to appeal to the National Assembly to expedite action to conclude the electoral legal framework swiftly so that the commission would have enough time for implementation,” he had said.

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    Among amendments the electoral body requested NASS to work into the law is introduction of early or special voting to allow eligible voters in essential services, election personnel, voters under incarceration, and those in the diaspora or out-of-country to vote during election periods. INEC also seeks amendment in the Electoral Act to establish an electoral offences commission and a political party regulatory agency.

    Besides, the commission seeks a review of Sections 47 (1) and 16 (1, 2 & 4) to modify the stipulation of mandatory use of the permanent voter card (PVC) for elections and allow for the introduction of electronically downloadable voter cards or any other form of ID acceptable to the commission. And it proposes amendments to Sections 48, 49, 71 and 91 of the 1999 Constitution to reserve special legislative seats for women and persons living with disability.

    Members of the current legislature, the 10th NASS, have themselves been working on amendment bills to effect electoral reforms. For instance, both chambers have passed for second reading a bill to amend the 2022 Electoral Act and make electronic transmission of results by INEC mandatory. A version of the bill also proposes holding all elections – presidential, Senate, House of Representatives, governorships and state assemblies – on same day. The bill further seeks to empower INEC to produce a new voter register every 10 years and remove deceased individuals.

    Another bill that’s been passed for second reading seeks to establish an independent authority for registration, regulation and funding of political parties, shifting the responsibilities from INEC to a proposed office of registrar of political parties.

    The catch is, none of these proposals has been processed to the level of being subjected to public hearings. With barely 12 months to the next election year, there are concerns that realisation of the reforms may already have been left too late. Respective committees on electoral matters will have to hold public hearings on the bills before submitting their report for consideration and approval by each chamber. Thereafter, a conference panel will have to be raised for concurrence / harmonisation by both chambers of NASS; after which the final report will be sent for clean-up by NASS bureaucracy, and then transmitted to Mr. President for assent.

    Global best practice stipulates that any law that will govern an election must be in operation not later than six months before that election. Ideally, such laws should even be piloted in isolated elections before the general election. Moreover, the reforms will inevitably necessitate expanded expenditure patterns on the part of INEC and other critical stakeholders that will require advanced budgetary planning and appropriation. All these will have to happen within the next year. So, there is really no time to lose.

  • Boko Haram’s audacity

    Boko Haram’s audacity

    • Allegations that they seized heavy military equipment and killed some soldiers deserve to be probed

    A House of Representatives member from Plateau State, Yusuf Gagdi, a few days ago raised the alarm that Nigeria’s security which has been a challenge in the last two decades is even more dire, given the resurgence of the Boko Haram terrorists, especially in the North Eastern states of Borno and Yobe. He alleged that there was a fire incident at the 127 Battalion Armoury in Giwa Barracks which tragically led to the loss of huge military weapons now believed to be in the possession of the terrorists.

    This allegation was made when the lawmakers were discussing the increasing threat from the Boko Haram terrorists, just as Governor Babagana Zulum of Borno State recently cried out to the Federal Government for help. After what has seemed like a temporary reprieve, many villages in the North East and North West are again under attack by various terrorist groups.

    Security issues are some of the most sensitive issues in any nation. They must be handled with utmost carefulness, precision and professionalism. The military and security agencies must be accountable. They are the ones that are constitutionally charged with security matters in the country.

    In some other democracies, the National Assembly would have urgently invited the security chiefs to give an insight into the allegations which are as scary as they are outrageous. If it is confirmed that the terrorists were able to access the Nigerian armoury and carted away heavy military equipment, including armoured vehicles, then the die is cast. While we believe there might be some exaggerations, there is always a fire before any smoke. The truth must be said without endangering the security intelligence.

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    But an incident like this, no matter how minimal the damage, is extremely dangerous for national security. How could terrorists have so overwhelmed our trained military in such a scandalous way? Boko Haram has caused too much damage already; to now lose about a trillion naira worth of equipment as being alleged is not just scandalous but a blight on the country’s territorial integrity.

    How fortified are our military bases? What are the fire and other security alerts available to the military bases? Security has gone beyond talks and conferences; governments are deploying digital and AI equipment to secure their countries and Nigeria is not too poor to deploy same. The government must take action to, again, decimate all forms of terrorists from all parts of the country. Their activities have impacted severely on the lives and livelihoods of Nigerians, with widespread poverty and food insecurity as proof.

    We are even shocked that the Boko Haram terrorists seemed to have recalibrated and are now more powerful than before. They seem to be gaining more grounds in Borno, as more villages are reportedly capitulating under their attacks. Governor Zulum has been going to the affected communities, pleading for the Federal Government’s increased support. The destruction to lives and economic and social activities in the state can only deepen the economic woes in the region and the country in general.

    While we ponder on these tragedies, it is apposite for the state and federal governments to re-evaluate the so-called ‘re-integration of ex-Boko Haram militants into the society. Has there been a social evaluation of their lives post ‘repentance’? Have the governments evaluated or researched into their lives since their initial rehabilitation? How much data is available to track their activities, some of which might include being informants to different groups?

    This is a time to reconsider the agitations for state police. It is obvious to all now that the federal police are too challenged to effectively protect Nigerians. Despite the perception that governors might abuse the system, we believe that if it has worked in many other countries, Nigeria can put a system in place to forestall abuses, which in any case now even happen to the federal police. Nigeria is one of the most under-policed countries in the world; this is why the military often steps in.

    While the country awaits full disclosure as regards the alleged seizure of our military equipment and possibly killing of some soldiers, we recommend that a thorough investigation be conducted so that future incidents can be prevented, as countries collaborate to stamp out terrorists globally. If there were cases of negligence or collaborations, the law should take its course. Our military and security agencies must live up to their reputation and oaths of office. Rag-tag non-state actors cannot hold Nigeria to ransom.

  • All-inclusive

    All-inclusive

    Senate’s move to include local govts’ representatives in FAAC meeting is welcome

    The implementation of the judgment of the Supreme Court which granted financial autonomy to the local governments has continued to suffer hiccups, and the senate appears to be taking steps to ameliorate the challenges. Last week, the senate passed a resolution, following a motion by the Deputy President of the Senate, Sen. Barau Jibrin, titled: “Urgent Need to alter the Composition of Federation Account Allocations Committee (FAAC) by including representatives of Local Governments and Area Councils.” The resolution is to give further impetus to the judgment of the apex court.

    Nigerians hailed the landmark judgment as a veritable way to ignite more development at the grassroots. The apex court berated the state governments for abusing the constitutional provision for a joint account with the local government, into which the federal allocations meant for the local councils are paid. In the motion, “The Senate notes that LGCs established by Section 7(1) CFRN 1999, as a 3rd tier of the Federation, are entitled as such and by Section 162(3) CFRN 1999 to share directly in Federation Account Allocations as benefitting entities.”

    It however noted that section 5 of the Allocation of Revenue (Federation Account, etc) Act 1981 which prescribes the membership of the Federation Account Allocation Committee (FAAC) to be only representatives of the Federal Government and state governments, to the exclusion of the 3rd tier of government, i.e. local government councils (LGCs); is not in consonance with the judgment of the Supreme Court.  We agree with the senate’s effort to ensure that local governments sit at FAAC to get their allocation directly from the federation account.

    The senate had noted “that the Supreme Court has construed Sections 162(5) and (6) CFRN 1999, to the effect that the states are agents of the federation to collect local government allocations from the Federation Account and pay to LGCs and did not give the states any right or interest in the said allocations to the LGCs, from the Federation Account.” Unfortunately, that trusteeship was abused by the states, necessitating the judgment of the apex court, to release the local governments from the chokehold of the states.

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    The constitution further provides that the states should pay the LGCs money into that account for the use of the local governments. Of course, the states were authorised to make laws for the democratic administration of the local governments, and spheres of economic development were provided for the local councils, knowing that they remain the closest level of development for the people. Sadly, in practice, the state governments across party lines turned the local councils to mere outpost for imperial whims and caprices.

    The senate directed its clerk to communicate to the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who doubles as Chairman of FAAC, the resolution, for necessary action, and sought the concurrence of the House of Representatives.

    As we said earlier, we support every constitutional effort to give bite to the judgment of the apex court. Until the judgment, most governors ran the local governments through incompetent surrogates.

    Every effort to bring democracy and financial viability to the local governments should be supported by all and sundry. Those who claim that federalism can only be two-tier miss the mark. Many countries, including Brazil, Germany, Switzerland, South-Africa, Argentina, Spain and the United Arab Emirates have three-tier federation, and it is working for them.

    What we need to guard against is the mockery of democracy at the grassroots. Since the judgment, weeks have turned to months and the envisaged impact of the financial autonomy on the rural economy is yet to blossom.

  • Metering quagmire

    Metering quagmire

    With about seven million consumers without meters, this is about the most pressing issue in the power sector

    It is understandable that many Nigerians took the announcement by the Minister of Power, Adebayo Adelabu, to the effect that electricity consumers should brace up for cost-reflective tariffs with skepticism. In the first place, many Nigerians are unaware of the government subsidies on power, but feel that already, the supply is largely insufficient and the tariffs very high. Secondly, they do not think the so-called appropriate tariff is possible in a situation where more than half of the over 13 million electricity consumers are still on estimated billing, 11 years after privatisation.

    Modern economies are run with electricity-powered infrastructure and other equipment generated through various means; hydro and thermal sources, solar, wind and even in some cases, human wastes. The availability of electricity in countries depends on how many of the sources they can fund and manage. Effective management is always key to perfect output.

    Yet, Nigeria, despite its population and economy has been lagging behind in the electricity sector. And it has been like that for decades, despite various forms of reforms and interventions in the sector.

    Since its inception in 1950, the Electricity Corporation of Nigeria (ECN) had metamorphosed into the National Electric Power Authority (NEPA), to Power Holding Company of Nigeria (PHCN), to the present unbundling and privatisation of the sector into generation, (GenCos), transmission and distribution (DisCos) companies, with the government holding on to the transmission rights for national security.

    However, the Ministry of Power still oversees the activities of the sector to ensure functionality and national cohesion.

    Regrettably, the Nigerian economy has been referred to by some smaller African countries as ‘generator economy’ owing to the fact that Nigeria is possibly the country with the highest number of electricity generating sets, both for households and industries. In fact, the provision of adequate electricity has been campaign issues by successive governments, with little to show for the efforts. In some ways, Nigerians complain and see themselves as having been failed by successive governments in the power sector. There is a seeming righteous indignation by citizens when they complain that electricity tariffs do not match supply and international standards of billing.

    Despite the fact that the Goodluck Jonathan administration felt that privatising the sector would solve the problems, 11 years after, not much seems to have changed. Electricity supply to homes and other sectors is still a serious issue today.

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    That explained the skepticism of Nigerians when told about the need for electricity subsidies to end.  Even though the minister said that government would find a way of still subsidising for the economically disadvantaged Nigerians, many small scale businesses and big manufacturing outfits are complaining of the cost of production of goods and services. In fact, many have either left the country or closed down businesses, increasing unemployment.

    While we agree with government that a lot of money needs to be invested in the power sector for desired results, we equally understand that a lot of policy and core administrative issues must be sorted first.

    The metering process is still chaotic. Many consumers are still bogged down with the frustrating process of meter procurement. We should not be having more than half of electricity consumers without meters; that is about seven million metering gap, if the DisCos are truly interested in facilitating the process of meter acquisition. So, government must ensure that the DisCos do the needful so that the obnoxious estimated billing method can be a thing of the past. It must invest in local companies for meter procurement. It must invest hugely in infrastructure generally to facilitate improved output.

    Moreover, the government must ensure synergy between the different power stakeholders while regulatory agencies must do their jobs effectively.

    The Federal Government must however be commended for making it easier now for states to generate their own power through decentralization; but more effort must be put into making sure that consumers pay only for what they consume. The system must be overhauled to deliver service that consumers would be happy to pay for.

  • Glimmers of hope

    Glimmers of hope

    •Clearing of $3.4bn IMF Loan and N100bn Sukuk loan is a sign that the economy is responding positively to  reforms

    It is unsurprising that the report that a major debt obligation of $3.4 billion owed by Nigeria to the International Monetary Fund (IMF) has been cleared by the President Bola Tinubu administration was greeted by initial cynicism in some quarters. But details released by officials of the Federal Government, as well as information on the website of the International Monetary Fund (IMF) have confirmed the veracity of the report. The loan was obtained in April 2020 by the immediate past President Muhammadu Buhari administration to enable the country cope with challenges posed by the COVID-19 pandemic.

    The hardships associated with the tough but inevitable economic reforms undertaken by the incumbent government, particularly the removal of fuel subsidy and the merger of the parallel foreign exchange markets, had predisposed many to a reflexively negative attitude to the impact, potential and prospects of its policies.

    The clearing of this debt burden is, however, a bold statement that, despite current inflationary spirals and other difficulties, the reforms are addressing distortions in the country’s economic fundamentals and gradually yielding positive outcomes. It suggests that Nigeria’s finances are being responsibly managed, with the requisite expertise and diligence which will boost the confidence of domestic and foreign investors in the economy.

    This positive perception is further strengthened by the news that the Federal Government has also successfully repaid its N100 billion (US$223 million) Sovereign Sukuk loan which was accessed in 2017 to fund road infrastructure projects across the country and boost economic development.

    The clearing of the principal of the IMF loan inspires confidence that the government will be readily able to pay remaining sundry charges and fees estimated at about $30 million.

    Since government is a continuum, the Tinubu administration deserves commendation for according requisite priority to the meeting of obligations inherited from preceding governments. This will facilitate its ability to attract future assistance that may be required to meet the country’s developmental objectives. 

    Indeed, the administration had given an early indication of its orientation and commitment in this regard. For instance, the Central Bank of Nigeria, (CBN), wasted no time in clearing the backlog of foreign exchange earnings of international air operators which amounted to about $850 million that could not be repatriated from the country due to severe dollar shortages experienced under the Buhari administration.

    In February, 2024, the CBN governor, Mr Olayemi Cardoso, reported that the apex bank had settled all valid inherited foreign exchange backlogs of $7 billion to enable multinationals, corporations and foreign investors repatriate their funds without undue stress. According to him, “This initiative has restored confidence among market participants and reinforced Nigeria’s commitment to honouring financial obligations in a timely and efficient manner”. Commenting on this development at the time, the Chief Executive Officer, Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, had stated that “With the clearance of the backlog, there is now more space for the CBN to stabilise the  currency and be able to intervene in the currency market periodically and be able to build reserves”.

    Indeed, the greater transparency in the operation of the foreign exchange market and relative stability in the value of the Naira due to the reform initiatives of the monetary authorities have considerably impacted the country’s economic performance as indicated by improved external reserve levels. According to the CBN, as at the end of 2024, Nigeria’s net foreign exchange reserves marked a significant increase to $23.11 billion, which represented the highest level in three years. This was an appreciable improvement from the $14.59 billion net foreign exchange recorded in 2021, $8.19 billion in 2022 and $3.99 billion at the end of 2023. Similarly, the gross external reserves rose from $33.2 billion at the end of 2023 to $40.19 billion as of December 2024.

    The improved foreign reserve levels have been attributed to gains of the economic reform initiatives, including increased foreign exchange inflows from non-oil sources, attraction of more sustainable and stable foreign exchange inflows as a result of the restoration of trust in the foreign exchange market, improved oil production and a more favourable export environment.

     Indeed, the National Bureau of Statistics (NBS) reports that in the second quarter of 2024, the country’s foreign trade surplus increased to N6.5 trillion which represented a 96.60% increase from the first quarter and a 202.11% surge from the N64.44 trillion recorded in the second quarter of 2023.

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    However, despite a positive trade balance of N3.4 trillion in 2024, it was noted that the country still had a high import bill of N16.6 trillion, largely comprising manufactured goods and raw materials. In the same vein, while agricultural exports witnessed a 232% year-on-year increase to N1.54 trillion, exports of manufactured goods reportedly slumped by 52.3% from the third quarter of 2024 to N494.2 billion, reflecting a weaker performance in industrial production. This underscores the urgent need to intensify current efforts to bridge the prevalent wide infrastructure deficit, with particular emphasis on markedly improved electricity supply to boost overall economic productivity and employment generation.

    Despite the positive signals indicated by the clearing of the IMF and Sukuk sovereign debts, experts note that the country’s debt level remains high. According to the Director-General of the Debt Management Office (DMO), Ms Patience Oniha, Nigeria’s total debt stock stood at N144.67  trillion as at December, 2023, with external debt amounting to about $42.5 billion. She assured, however, that the public debt remains sustainable given the appreciable decrease in debt service to revenue ratio over the last two years, gradually growing revenues and an expanding Gross Domestic Product (GDP) base.

    This is most likely why the reputable credit rating firm, Fitch, despite noting that the country needs to pay $5.2 billion towards its foreign loans in 2025, still changed Nigeria’s rating from negative to stable, which is perceived as a positive indicator to investors. It is expected that the new tax reform bills of the Tinubu administration, when they go into effect, will significantly enhance economic performance, especially through improved tax efficiency and revenue earnings.

    But the government has a duty to accompany ongoing reform implementation with a more stringent crackdown on corruption, retrieval of illegally acquired funds and further cuts in governance costs. It should continue to curb other wasteful expenditures.

  • Travesty

    Travesty

    Owing MKO N45bn, dating back to the 1970s, shows the absurdity of military rule

    Sule Lamido’s call to the Federal Government to defray N45 billion it owes Basorun MKO Abiola, who won the annulled June 12, 1993 presidential election, again shows, in bold relief, that military rule is well and truly unconscionable.

    It’s a right call which President Bola Tinubu should give the required attention, to right that wrong, once and for all.  But it also points to the stark injustice of military rule, to which no civilised commune should be condemned.  That outstanding debt hurts both the Abiola family as it offends the common humanity of the Nigerian collective.

    Kudos to Mallam Lamido, former governor of Jigawa State, for again bringing to the fore this “open sore” of a country, to borrow from the title of Nobel Laureate, Prof. Wole Soyinka’s The Open Sore of a Continent: A Personal Narrative of the Nigerian Crisis.

    It’s indeed a long running Nigerian crisis, though it’s 26 years now since Nigeria returned to democracy, after the wayward political soldiers had exhausted their historical relevance as a corrective force — the umpteenth fib that often drove their opportunistic power capture, during their heyday as a ruling force.  It all turned a costly mirage.

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    Now, look at the galloping illogic of cancelling legitimate debt owed Chief Abiola to justify another wrong — and crime: annulling his legitimate mandate; and eventually annulling his life, after four years in the Abacha gulag, for winning a free election.  A double — indeed treble — jeopardy never tasted more galling!

    Between General Ibrahim Babangida and Gen. Sani Abacha, June 12 was annulled.  Wilting under unexpected fire from civil society, the military felt obliged to manufacture a sickening sweetener to fob the naive: if Abiola were allowed to enjoy the benefits of his democratic mandate as president, he would simply pay himself the N45 billon, and bankrupt the country!

    Now, that was a high low in fear-mongering!  So, because a debt would bankrupt the debtor, the debtor can summarily grant himself debt forgiveness?  And because of that lure for sweet debt forgiveness, the debtor can canonise his high crime of cancelling his creditor’s electoral mandate?

    It’s all gangling fallacy, of course!  But then, what’s military rule?  Just like the common armed robber feels he can get off with anything because he has illicit arm, the military-in-government always felt they could get away with blue murder — until June 12!

    Still, thank God many of the active participants, from 1976 when Gen. Murtala Ramat Muhammed was assassinated; and 1999, when this democratic era started, were there at the Lamido book launch where he made the fresh call for payment of the debt.

    Take Gen. (later President) Olusegun Obasanjo.  Chief Abiola first made the N45 billion debt claim shortly after Muhammed’s death.  Obasanjo succeeded Gen. Muhammed as Head of State.  Did he show any interest in paying Abiola his money?  Maybe.  He had three years to do that as Head of State.  But that record is not in the public space.

    As elected president for eight years — his win, though anchored on Abiola’s martyrdom — he was too busy in the thick conspiracy to cancel Abiola; and his Egba kinsman’s sterling contribution to our democratic rebirth, to care about doing anything about the debt.  Yet, the annulment crisis threw up that question anew.

    Gen. Obasanjo was not part of the annulment, even if he was proudly part of the sundry conspiracies to sustain it.  Yet, he told Mallam Lamido at the book launch that the better Nigeria they were all trying to build had not yet arrived.

    Pray: how can any Obasanjo-inspired  group build a better Nigeria, when Obasanjo himself appears indifferent to basic justice to citizens, as in this clear case of MKO, which he had every opportunity to fix, both as junta head and elected president, yet did nothing?

    But again, it’s kudos to Mallam Lamido for seizing his show to point attention to this flagrant injustice. With his open push to settle the MKO debt, he has shown an admirable trait. As for Obasanjo, it was yet another empty preachment.

    The June 12 saga seemed to have armed karma to punish the conspirators.  IBB lives to confess the truth of own grave indiscretion, which nearly set Nigeria on fire.  Abacha died in power, as starkly as he had ruled, to make way for the democracy he was determined to abort.  Obasanjo is alive to see his personal hero-worship day of May 29 as Democracy Day, give way to June 12 as the authentic Democracy Day.

    It’s, therefore, nearly tempting to assume that none of the military power class of yore had the capacity of righting the June 12 wrong until Muhammadu Buhari (himself a former military Head of State) got elected as president.  It was he who recognised MKO’s win, made June 12 Democracy Day, gifted MKO the Grand Commander of the Order of the Federal Republic (GCFR), which though posthumous, placed him on the pedestal of other former presidents.

    That was as much personal nobility for Buhari as redemption for the military class he was part of which, admirably, now subject themselves to democratic and civil control.

    Still, it’s time to put a final closure on the June 12 saga.  President Tinubu should put in place practical steps to defray MKO’s N45 billion.  It’s sad that that would be done by an elected government that had no hand in the old military power rascality.

    But there is hardly any other way Nigeria can be fair to MKO who gave his life, so that Nigerian democracy can bloom and flourish.