The Nation Newspaper

Category: Special Report

  • Year of greater expectations

    Year of greater expectations

    Like 2023, this year will be full of activities at the national and sub-regional levels. Deputy Editor EMMANUEL OLADESU examines the events of 2024 that are likely to make it a historic year.

    Last year was full of suprises, uncertainties, conflicts and renewed hope for a brighter future. Certain national expectations were met, particularly the orderly transfer of power across the two tiers. There is political stability, and democratic consolidation. But, the people thirst for a relief from the harsh economic situation. The national lean period has been elogated. Poverty is growing in leaps and bounds. Many citizens, particularly professionals, are migrating abroad in search of real or imagined greener pastures.

    Insecurity is still raging, despite the concerted efforts at nipping it in the bud by determined and gallant security agents. From the eve of Christmas to the new year, Plateau has been one environment of daily anguish and sorrow. The old, young and kids are murdered without restraint. Security agencies have not been able to unravel the circumstances.

    Political conflicts in many states convey an atmosphere of uproar in the polity. Even, intra-party implosion in both ruling and opposition parties stare people in the face in some states.

    Nigerians witnessed a historic presidential poll and change of government. There were thousands of litigations arising from the bitterly contested presidential, governorship and legislative polls, which almost drew the nation on edge.

    Some of the outstanding court cases have been carried over to 2024.

    Six months after, elected functionaries are adjusting to the huge challenges of governance. No giant stride yet at the national and state levels, although there are indications that Nigerians will savour a new lease of life this year. President Bola Tinubu and governors are assuring Nigerians that things will be better.

    The economy is still in shambles. Fuel subsidy was gone, but the cummulative impact on the people is still unbearable. Foreign debt is soaring. While the President’s genuine investment drive has potentials of achieving targeted positive results, some known and time-tested investors are leaving the country. The cost of production is burdensome. Companies are folding up, thereby making unemployment to soar in geometric proportions.

    Two key areas are germane to a productive economy and diversification. First, although power is becoming relatively stable, much more is still needed to be done in the important sector. Two, if the refineries begin to work, even at a low capacity this year, hope will be better rekindled.

    Bello out, Ododo in:

    On January 27, Kogi State Governor Yahaya Bello will bow out in a blaze of glory after completing his two terms of eight years. At a ceremony in Lokoja, the state capital, he will hand over to his anointed candidate, Usman Ododo. Bello has already tendered his stewardship. Ododo, former Accountant-General and Permanent Secretary, Ministry of Finance, will lay out his comprehensive plan for the state during the inauguration.

    Then, a successor/predecessor relationship will begin in which stakeholders do no expect crisis of whatever kind.

    Outstanding litigations:

    The political events of 2023 will definitely be influential on the events of 2024. Two important governorship cases will be decided by the Supreme Court. There are anxieties in Plateau and Kano states where the disputes over last governorship polls between the All Progressives Congress (APC) and the New Nigeria Peoples Party (NNPP) had shifted to the Supreme Court. NNPP Governor Abba Yusuf is being challenged by Nasisu Gawunna of APC. The wider interpretation is that the struggle is between APC National Chairman Dr. Abdullahi Ganduje and Kano NNPP Leader Senator Rabiu Kwakwanso. Both of them previously belonged to one political family in the PDP and later, APC.

    In Plateau, Governor Caleb Mutfwang is awaiting the Supreme Court judgement in the case brought by the APC candidate, Nentawe Goshwe.

    These litigations have drawn home the import of unfinished electoral reforms, particularly the need to re-adjust the calendar for elections by the Independent National Electoral Commission (INEC). These questions subsist: should presidents and governors be sworn in before the conclusion of litigation? If a governor is sacked by the apex court seven months after the poll, and the legitimate winner is sworn in, can the lost time be recovered or accounted for?

    By-elections:

    Next month, residual elections will take place in some districts and constituencies. The positions became vacant, following the appointment of the federal legislators into the Federal Executive Council (FEC) by the president.

    By-elections will be conducted to fill the vacant  positions vacated by Senator Dave Umahi, Minister of Works (Ebonyi South), Femi Gbajabiamila, Presidential Chief of Staff (Surulere), Tunji Ojo, Minister of Interior (Akoko) and Senator Gaidem, Minister of Police Affairs (Yobe East).

    A statement by INEC National Commissioner and Chairman,  Information and Voter Education Committee,  Sam Olumekun, said re-run and by-elections will take place simultaneously in nine states on Saturday, February 3.

    For the state constituencies, INEC is expected to conduct elections in Chibok State Constituency, Borno State, Chikun State Constituency, Kaduna State, and Guma State Constituency, Benue State.

    In federal constituencies, the elections will be held in Akoko North East/Akoko North West Federal Constituency, Ondo State, Jalingo/Yorro/Zing Federal Constituency, Taraba State, Surulere 1 Federal Constituency, Lagos State, and Yauri/Shanga/Ngaski Federal Constituency, Kebbi State.

    Olumekun recalled that the vacancies were declared by Senate President Godswill Akpabio, House of Representatives Speaker Tajudeen Abbas, and Speakers of Houses of Assembly.

    Indeed, 35 constituencies were affected by these court-ordered elections; while three cover entire constituencies, others involve only a few polling units.

    Olumekun said: “The Commission has approved the timetable and schedule of activities for conducting by-elections resulting from the resignation or demise of members of the National and State Houses of Assembly.

    “These vacancies were declared by the Presiding Officers, i.e., the Senate President, Speaker of the House of Representatives, and Speakers of State Houses of Assembly.

    “The vacancies occurred across two senatorial districts, four federal constituencies, and three state constituencies, spanning nine states of the federation.

    “Furthermore, the Commission is conducting re-run  stemming from the 2023 general election, as directed by various Election Petition Appeal Tribunals. Currently, 35 constituencies are affected by these court-ordered elections. While three cover entire constituencies, others involve only a few polling units.

    “Both categories of elections are scheduled to take place simultaneously in all affected constituencies on Saturday, February 3, 2024.”

    Olumekun said the timetable for the elections, along with detailed delimitation data, has been uploaded to the INEC website and social media platforms as a guide for political parties and candidates and public information.

    He urged parties and candidates to strictly adhere to the specified timelines for the seamless conduct of these elections.

    Gladiators are warming up for these by-elections. Those who vacated the positions are also not indifferent to the personalities of those itching to succeed them. In Surulere Constituency, Gbajabiamila is rooting for Fuad Laguda, an APC aspirant. His challenger is Abdulraheem Owokoniran, a lawyer. The PDP aspirant is Bolaji Jeje, a long standing chieftain.

    In Ebonyi South, an aspirant, Austin Umahi, younger brother of the minister, has quit the race. The slot was zoned to Onicha Council by the State Working Committee of the APC. A notable PDP aspirant is Silas Onu, who has set up a campaign organisation.

    In Akoko Constituency, Ondo PDP has endorsed Olalekan Bada, former chairman of Akoko Northeast Council, as consensus candidate.

    Read Also: New Year, greater expectations

    Edo, Ondo governorship polls:

    A major popularity test is imminent again. In Ondo State, the two parties -APC and PDP-will clash during the off-season governorship election.

    In Edo, three parties-APC, PDP and Labour Party (LP)- will compete for the Osadebey House.

    In the two states, the aspirants are warming up for primaries.

    Ondo is a state to watch. Recently, a new governor, Lucky Aiyedatiwa, succeeded his deceased predecessor, Rotimi Akeredolu. His demise has changed the political calculus.

    Aiyedatiwa is expected to name his deputy soonest. He is from Ondo South, which is expected to be the beneficiary of zoning as proposed by Akeredolu. It therefore, implies that zoning will also shape the selection of the deputy governor, who may be picked from Ondo North(Owo/Akoko) or Ondo Central (Akure/Ondo/Idanre).

    Before Akeredolu’s demise, no fewer than 10 APC aspirants, including Aiyedatiwa, were warming up for the shadow poll. Other contenders are Wale Akinterinwa, an experience accountant, technocrat, former Senior Special Assistant (Housing) in Lagos State and longest service Finace Commissioner in Ondo State; Princess. Oladunni Odu, prominent women leader, former commissioner and now Secretary to Government, Dr. Ife Oyedele, accomplished engineer and chairman of a federal parastatal in Abuja, Chief Olusola Oke (SAN), former House of Representatives member, Senator Jimoh Ibrahim (Ondo Central), Dr. Soji Ehinlanwo, former Niger Delta Development Commission (NDDC) member Sola Edema, Ambassador Sola Iji, Jimi Odimayo, APC National Vice Chairman (West) Isaacs Kekemeke,and Mathew Oyerinmade.

    Nearly all the aspirants are from the South Senatorial District.

    In Ondo PDP, there is intense clamour for zoning to Ondo South. However, there is no consensus on the agitation.

    PDP governorship aspirants include Eyitayo Jegede (SAN), former Attorney-General and Commissioner for Justice, a two-time governorship candidate who hails from Akure; Adeolu Akinwumi and Elder Bosun Arebuwa.

    There is more anxiety in Edo over the primaries. The three parties-APC, PDP and LP-are not at peace due to internal bickering.

    Edo is a battle ground. APC is working hard to bounce back. PDP is not sleeping on guard. LP leaders, who are motivated by its in-road into the state in last year’s elections, are full of bravado.

    Governor Godwin Obaseki should be envious of his Kogi counterpart, Yahaya Bello, who despite all odds, succeeded in installing a successor, Ododo, who hails from the same local government with him.

    However, there is a split in Edo PDP. Actually, there are four camps in the troubled chapter. Two of the camps are led by Obaseki and Dan Orbih, who is a loyalist of Federal Capital Territory (FCT) Minister Nyesom Wike.

    Zoning is an issue in Edo. So far, none of the parties has made a categorical statement, although Obaseki appears to be indisposed to a successor from his native senatorial district and from Edo North, the birthplace of his predecessor, Senator Adam Oshiomhole.

    Edo PDP aspirants include Deputy Governor Philip Shaibu, who has failed to secured the endorsement of his boss; Anslem Ojezua, a lawyer, Gideon Ikhine and Asue Ighodalo, successful banker, lawyer and businessman.

    LP aspirants are Dorry Okojie, Mathew Urhoghide, Kenneth Imasuagbon and Akpata, former President of Nigeria Bar Association (NBA).

    Those struggling for the ticket in the APC are Joseph Ikpea, Gideon Obhakhan, Col. David Imuse, Monday Okpebholo, Prof. Osariemhenn Osunbor, and former Minister of State for Budget, Clem Agba.

    These off-season elections will be confucted based on the Electoral Act and the constitution. But, political parties and candidates should also take cognisance of the lucid judgments of the presidential tribunal and the Supreme Court to moderate their behaviours before, during and after the polls.

    Rivers, Fubara, Wike:

    The Rivers political crisis may not be carried over to the new year, if the peace deal brokered by President Bola Tinubu between Governor Siminalayi Fubara and Wike are strictly implemented.

    The crisis led to the demolition of the House of Assembly by the state government and resignation of some commissioners.

    According to the resolutions, Governor Fubara is to withdraw all matters he has before the courts, just as it directed the State House of Assembly to drop all impeachment processes it initiated against the governor.

    It also directed that Amaewhule’s leadership of the House of Assembly be recognised, just as it directed Fubara to re-present the state’s 2024 Budget to the Amaewhule-led Assembly.

    “All matters instituted in the courts by the governor of the state, Fubara, and his team, in respect of the political crisis in Rivers state, shall be withdrawn immediately.

    “All impeachment proceedings initiated against the governor of Rivers state by the Rivers State House of Assembly should be dropped immediately

    “The leadership of the Rivers State House of Assembly as led by the Rt. Hon. Martin Amaewhule shall be recognized alongside the 27 members who resigned from the PDP

    “The remunerations and benefits of all members of the State House of Assembly and their staff must be reinstated immediately and the governor of Rivers State shall henceforth not interfere with the full funding of the State House of Assembly

    “The State House of Assembly shall choose where they want to sit and conduct their legislative business without interference and/or hindrance from the Executive arm of government

    “The Governor of Rivers State, Sir Fubara, shall re-present the state budget to a properly constituted Rivers State House of Assembly.

    “The names of all commissioners in the Rivers State Executive Council who resigned their appointments because of the political crisis in the state should be resubmitted to the House of Assembly for approval

    “There should NOT be a caretaker committee for the local governments in Rivers State. The dissolution of the Local Government administration is null and void and shall not be recognized.”

    Eyes are on Fubara and the Martins Amaewhule-led House of Assembly to fully implement the eight items contained in the resolutions.

    Out of the eight-point resolution, only two had been fully implemented; one by Fubara and one by the House of Assembly.

    While the Amaewhule-led House, a day after the meeting, implemented resolution two by withdrawing an impeachment notice, Fubara confirmed that he had enforced item four by paying the withheld entitlements of the lawmakers.

    There is another hurdle to cross. This is the glaring reality of a PDP governor now working in critical partnership with the APC Speaker of an APC-dominated House of Assembly. Will the 27 lawmakers return to the PDP, or will the governor join them in APC?

    Mid-term party conventions:

    The three main parties have their peculiar challenges which will continue to manifest.

    APC, the party in power, has to justify the confidence reposed in it through the performance of the Tinubu administration it has midwifed.

    There are murmurings and grumblings in the ruling party over the distribution of appointments and largesee at the federal level by some active chieftains who naturally expect reward for political labour, particularly during the last electioneering.

    Also, some state chapters are crisis-ridden. There is need for effective crisis resolution mechanism.

    PDP, the main opposition party, has to resolve its leadership crisis by selecting a new chairman, based on zoning.

    Also, PDP has an unfinished challenge of reconciliation to contend with. The party is divided, with some of its leaders hobnobbing with the APC-led administration.  There is crack between the National Working Committee (NWC) and the PDP Governors’ Forum, which should be mended. The party needs a strong leadership that should command the loyalty and respect of the vast majority of members. Can the defeated presidential candidate, former Vice President Atiku Abubakar, offer the required leadership at this time?

    During the week, Atiku’s associate, Daniel Bwala, a lawyer, hinted that the old warhorse will contest in 2027. That means he has a lot of work to do to get the ticket, which will definitely be competed for by other chieftains.

    Like PDP, LP is also beset with leadership crisis as manifested by the consistent tussle between the two camps, led by Julius Abure, a lawyer, and Lamidi Apapa. LP is not a big party, if the Obedients, fanatically followers of its failed presidential candidate, Peter Obi, are isolated. Its structure is still suspect. It lacks taproots in the nooks and crannies of the country. Mere identification with Obi, former governor of Anambra State, by the scattered and uncoordinated noise-making fans does not amount to party membership.

    During the week, Obi disclosed that the party will embrace reality and adjust to the role of an opposition party.

    For the three parties, there is an obvious gap in role fulfilment. Political parties should constantly educate the people about national political developments. They are not doing enough in terms of mandatory political education, sensitisation and enlightenment.

    Also, the parties are moving away from the culture of mid-term convention, which would have afforded them the unique opportunity for critical self-assessment, review and projections into the future.

    Swearing in of Supreme Court justices:

    No fewer than 11 Justices of the Supreme Court are expected to be sworn in soon by the Chief Justice of the Federation, Kayode Ariwoola. They will fill the vacancies created by statutory retirement and demise of the apex jurists.

  • Lost opportunities: Nigeria’s untapped potential in value addition

    Lost opportunities: Nigeria’s untapped potential in value addition

    Despite its status as a major producer of exportable mineral and agro raw materials, Nigeria grapples with the paradox of exporting these resources in their raw form, devoid of significant value addition that can propel industrialisation, economic diversification, and, ultimately, elevate revenue generation and employment opportunities. This approach results in the loss of employment opportunities and deprives the nation of potentially billions of dollars that could be gained by processing these resources into semi-finished or finished goods for export. Assistant Editor CHIKODI OKEREOCHA explores the consequences, including job losses and missed economic opportunities, prompting calls for government to address the high-cost environment that renders processing unprofitable and invest in processing facilities to reverse this disheartening trend         

    Nothing better illustrates the sad tale of Nigeria’s bumpy road to achieving sustainable industrialisation and economic diversification than the perplexing paradox in her non-oil export business where, despite parading generous exportable mineral and agro raw materials, they are being exported in their raw form, with minimal or no value addition. Take cocoa, one of the highly sought-after cash crops in terms of export value, for instance, and the depressing reality of Nigeria’s wobbling non-oil export enterprise forced by lack of value addition comes into bold relief. Nigeria, according to the United Nations Food and Agriculture Organisation (FAO), is world’s sixth largest cocoa producer, behind Cameroun, Brazil, Indonesia, Ghana, and Ivory Coast.

     But, out of Nigeria’s total production volume of 248, 000 tonnes of cocoa beans, only 30 per cent is processed into cocoa derivatives such as cocoa powder, cocoa butter, and cocoa paste; the remaining 70 per cent is exported without processing. Yet, the processing of cocoa into cocoa derivatives, according to industry experts, is the highest value adding activity in the cocoa value chain.

     It has the potential to generate significant export revenues both to the government and cocoa farmers. For instance, at the last count, the Nigerian Export-Import Bank (NEXIM) put the global value of raw cocoa export at $10 billion, while the total value of all finished goods from cocoa was $200 billion annually, with chocolates alone accounting for half of that market value, i.e. $100 billion.

     Sadly, however, Nigeria, despite being ranked world’s sixth largest cocoa producer, is currently in no position to claim a chunk of this huge market share. Africa’s third largest cocoa producer does not boast a vibrant chocolate industry to process cocoa into chocolate and other finished products. Curiously, The Netherlands, a non-cocoa producer, has one of the largest cocoa producing industries in the world. The processing and exportation of cocoa derivatives generated $4.2 billion for the Dutch economy in 2016, for instance. In comparison, Nigeria, which ought to have been a global powerhouse in cocoa processing and export, generated only $144 million from the exportation of cocoa derivatives to neighbouring countries like Ivory Coast, Cameroun and Ghana.

      A recent report by multinational professional services company PricewaterhouseCoopers (PwC), titled “Transforming Nigeria’s Agricultural Value Chain: A Case Study of the Cocoa and Dairy Industries,” ranked The Netherlands as the third largest exporter of chocolate in Europe. The report, which was made available to The Nation, listed The Netherlands, Germany, Indonesia, Malaysia and Belgium as major export destinations for Nigeria’s fermented cocoa beans.

     The report pointed out that in 2018, The Netherlands imported N30.3 billion worth of fermented cocoa beans from Nigeria. This figure, according to the report, surpassed the combined two-year export value of the other top four importers, noting that the significant cocoa demand from The Netherlands is driven by the boom in that country’s chocolate market fueled by increased popularity of specialty chocolates.

     Even Switzerland, which is also one of the largest producers of chocolate globally, with estimated 180,000 tons of chocolate per year, earns around $1.5 billion from the cash crop. Switzerland also relies on African countries like Ghana and Ivory Coast to get its major raw material which is cocoa. However, Nigeria’s embarrassingly woeful outing in the non-oil export business, where her inability to add value to her exportable agro and mineral raw materials is not limited to cocoa. There is also sesame seed, another cash cow, literarily, and is second to cocoa in terms of export value. Nigeria is Africa’s second largest producer of sesame seeds after Sudan.

    Sudan’s output in 2019, for instance, was 11.2 million tonnes. The country alone accounts for 45.8 per cent of the total output of the top six African countries put together. Nigeria’s output makes up 18.2 per cent of the total, making her Africa’s second-largest sesame producer. In the first quarter of 2018, sesame was Nigeria’s most exported non-oil commodity, contributing 0.57 per cent to the total export value and 36.39 per cent of agricultural exports.

     Again, sadly, the snag is that about 95 per cent of sesame output in Nigeria is exported for processing, according to the Nigerian Institute of Food Science and Technology. In the Institute’s reckoning, if Nigeria had the facility to process even half of the 90 –95 per cent exported sesame seed, the country would have reaped bountifully from its several derivatives both in terms of revenue earning and job creation across the product’s value chain.

     Sesame seed is used in confectionery, biscuits, and in bread making. Also, oil extracts from sesame seeds have a wide range of applications. It is used for cooking, used in medicine for treating ulcers and burns, used in making aerosols, and in manufacturing margarine. The low-grade oil of sesame is also used locally in manufacturing soap, paints, lubricants, and illuminants.

     The by-product from processing sesame seed is also used in making animal feeds. Sesame is also used in different countries for their local dishes and delicacies, and this must be why the market for sesame seeds is quite vast, with Japan and China as the major importers. Had Nigeria latch on her natural endowment in sesame, where about 26 states across the country are said to be blessed with this cash crop, the quantum of revenue accruing to these states, the farmers and other operators across its value chain would have been huge, so also the number of jobs that would have been created from the upsurge in processing activities.

     The Nation learnt that apart from Jigawa State that has the highest area of production and total production of sesame in the country, followed by Benue State, other states in the sesame seed belt include Adamawa, Bauchi, Benue, Borno, Gombe, Kaduna, Kano, Katsina, Kebbi, Kogi, Nassarawa, Niger, Plateau, Sokoto, Taraba, Yobe, and Abuja.

      Searing penury, joblessness amid $700b solid minerals

     The situation in the solid minerals sector is probably more heart-wrenching. Nigeria is endowed with over 44 strategic solid minerals in about 450 locations across the country. This puts her mining sector in a vantage position to dislodge oil as major revenue earner and economic diversification driver to create jobs and significantly cut down Foreign Exchange (forex) spending.

    The Minister of Solid Minerals Development, Dr. Dele Alake, put the country’s mining sector’s huge but largely untapped potential in perspective when, on the sideline of the United Nations General Assembly (UNGA) held in New York, towards the end of last year, he told investors that Nigeria’s minerals deposit was worth $700 billion. Apparently encouraged by what is arguably, Nigeria’s goldmine and next ‘crude oil’, Dr. Alake boasted that Nigeria, despite being behind some African countries in mining, had the potential to take the lead soon based on the over 44 assorted solid minerals in all the 774 local government areas of the 36 States and the Federal Capital Territory (FCT), Abuja.

     The Minister also buoyed the hopes of a possible rebound of the mining sector when, in his New Year message to Nigerians, he said the sector will experience a major leap this year. A statement by his Special Assistant on Media, Segun Tomori, quoted the Minister of reiterating that President Bola Tinubu’s vision of diversifying the economy through renewed focus on solid minerals was on course. Some of the 44 solid minerals upon which Dr. Alake anchored his excitement over the prospects of repositioning Nigeria as Africa’s mining destination, and assuring that his ministry would contribute substantially to the nation’s GDP, include coal, limestone, lead/zinc, bitumen, barite, gold, iron ore, tantalite, tin, columbite, barites, gypsum, sapphire, emerald, granite tourmaline, sandstone etc.

     But unless and until President Tinubu and Dr. Alake make good their promise to halt the exportation of these raw solid minerals without any value addition, their hope of positioning Nigeria to take the lead in mining in Africa, including latching on reforms to force the sector to “yield tremendous results in the new year,” according to industry experts and operators, remain what it is: wishful thinking.

    Recall that President Tinubu had at the ‘Nigeria Mining Week’ held towards the end of last year, declared that the era of exportation of raw minerals and similar resources from the county was over. In other words, the policy of value addition has come to stay. He also expressed his administration’s commitment to making solid minerals rival oil in revenue generation and foreign exchange earnings for the country.

     The Nigeria Mining Week is an annual event that brings together stakeholders in the mining industry, including policy makers, investors, operators, service providers, academics and civil society with the aim of showcasing the potential and opportunities in the mining sector and foster collaboration and partnerships for its growth and development. The event was yet another reminder of the sorry state of Nigeria’s mining sector where much of her mineral commodities are at present illegally mined and exported in crude form to European and Asian countries at give-away prices, without any value addition, to the disadvantage of the national economy.

     Indeed, about 80 per cent of mining activities in the country are said to be illegal, depriving the various tiers of government of billions of Naira in supposed royalties annually. Between 2016 and 2018 alone, Nigeria reportedly lost about N353 billion in gold alone smuggled out of the country and sold in the international market without any revenue accruing to the government.

     Within the three-year period, about 18 tons of gold were smuggled out of the country. The former Minister of Mines and Steel Development, Arch. Olamilekan Adegbite, brought the reality of Nigeria’s thriving illegal mining enterprise nearer home when he said illegal miners operate in about 1,759 mining sites across the country.

     Illegal mining thrives in six states including Niger, Plateau, Zamfara, Ebonyi, Enugu and Imo. According to a report by the Nigeria Extractive Industries Transparency Initiative (NEITI) titled: “Improving Transparency and Governance for Value Optimisation in Nigeria’s Mining Sector,” Niger and Plateau states topped the illegal mining list; while Niger State had 10 illegal mining sites, Plateau had seven.

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    The illegal miners, allegedly with their foreign collaborators, have been pillaging the nation’s solid mineral commonwealth, much to the chagrin of the Federal Government, the Ministry and Nigerians generally. However, if the current administration walks its talk on prioritizing value addition by pulling the breaks on the exportation of solid minerals, it means a push back on the thriving illegal mining industry.

     It also means, by extension, brighter chances of the ministry, under Alake’s charge, of making good its target of adding at least 50 per cent to the economy, including attracting Foreign Direct Investment (FDI) to the country. And more importantly, hopes of meeting Nigeria’s target of leveraging mining to earn forex, create jobs and boost the sector’s contribution to GDP to three per cent by 2025 will be brighter.

    Why operators, investors shun local processing

    The Nigeria Export Promotion Council (NEPC), which is in charge of promoting non-oil exports, has been quite vociferous in its position that local raw materials in their natural forms do not have any value and would not attract any market demand hence, there is need to process them to meet internationally accepted quality and standards for use by manufacturers and for export.

     However, because of lack of access to capital to set up processing facilities, process technology and techniques, and spare parts, including poor infrastructure particularly electricity supply, among others, existing and prospective operators and investors who would have thrown their hats in the raw materials processing ring as canvassed by the NEPC and other stakeholders have continued to hold back.

     The Nation learnt that because of the capital intensive nature of establishing and running local processing plants, including regular supply of the raw materials and the challenge of marketability viz-a-viz imported products, manufacturers are focused on proceeds they get from exporting the raw materials.

     Some of them who ventured into processing, even without any incentives by government, were said to have got their fingers burnt because of the prevailing high cost environment. The thing is that Nigeria’s high cost business environment foisted on processors, largely as a result of poor electricity supply and other binding constraints such as lack of access to finance, makes processing a highly unprofitable venture.

     However, by by-passing value addition to these products because of the afore-mentioned issues, both the government and operators are losing billions of dollars in export revenue including jobs.

     This must be why the Senior Partner of KPMG Nigeria, an audit, tax and advisory services provider, Mr. Kunle Elebute, said Nigeria and other African countries are simply the domain for the global economy to take out commodities and process, and their lack of capacity for processing and manufacturing results into poor export receipt laced with uncompetitive ability.

     Elebute, who was former Chairman, KPMG Africa, therefore, advised that African countries adopt value addition practices as this will enhance the competitiveness of their products while boosting regional trade activities and reducing reliance on imports from foreign countries.

     The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, could not agree less on the need to prioritize value addition on exports, pointing out that it is one sure way to reduce Nigeria’s over-dependence on importation and also boost her competitiveness, among others.

     “By focusing on value addition and local sourcing, we can reduce our reliance on imported raw materials and improve the overall competitiveness of our products. This will also contribute to the growth of Small and Medium-sized Enterprises (SMEs) and empower local entrepreneurs to participate actively in the manufacturing value chain,” she said.

     The Minister spoke at the opening ceremony of the 7th edition of the Nigeria Manufacturing Equipment Expo (NME Expo) co-located with the 9th Nigeria Raw Materials Exposition (NIRAM Expo), which held in November last year, with the theme, “Future Manufacturing: Building a Sustainable Roadmap to the Industrialisation of Nigeria.”

     At the NME-NIRAM Expo organised by MAN and Raw Materials Research and Development Council (RMRDC), she stated that the future of manufacturing in Nigeria, among other things, relies on prioritizing the development of the raw materials sector to support the nation’s manufacturing industry, assuring that the Federal Government, through her ministry, was dedicated to fostering a conducive environment for manufacturers to flourish. “Our commitment extends to the implementation of policies and programs that facilitate ease of doing business, improve access to finance for manufacturers, and enhance infrastructure and logistics to bolster the growth of the manufacturing sector,” Dr. Uzoka-Anite said.

     For Manufacturers Association of Nigeria (MAN), incentivizing investment in the development of raw-materials locally through backward integration and resource-based industrialisation is the way to go to improve the performance of the manufacturing sector. At the core of the Federal Government’s Backward Integration Policy (BIP) is the need to create a competitive supply value chain and reduce dependence on imported raw materials.  Resource-based industrialization, on the other hand, is the utilisation of the country’s abundant natural resources in producing goods needed in the country.

     The Project Manager, Strategy Implementation Task Unit (SITU), Raw Materials Research and Development Council (RMRDC), Sir Henry Chukwudi Eteama, said converting raw materials into something more useful through added value increases the price of finished products, making manufacturing a very profitable part of the business chain.

     Delivering a paper titled ‘The Future of Manufacturing and Strategies for Global Competitiveness in Raw Materials and Products Development in Nigeria’ at the NME-NIRAM Expo, Eteama, however, said challenges to local sourcing of raw material abound and  cannot be taken lightly as major hindrance to sustainable industrialisation. He listed some of them to include but not limited to very high propensity among Nigerian industries and business for consumption/utilization of foreign raw materials and product; emphasis on oil and gas to the detriment of development of agriculture and geo-extractive/mining sectors and businesses.

     Others are lack of synergy and strategic alliances between industries/business in Nigeria and the academia/Research and Development (R&D) institutions in the identification, exhortation, value addition and adaptation of raw materials and products of Nigeria; poor technological and scientific know-how required to engage in fruitful and profitable development of available raw material potential in Nigeria.

     The Project Manager at RMRDC also decried the inadequate fiscal policy measure for protection of local businesses engaged in local sourcing of raw materials; lack of incentive to business and researchers who venture into local production and development of raw materials; increasing insecurity in the several locations where agro and mineral raw materials are sourced especially in the farmlands and mining sites etc. He insisted that all over the world, nations strive towards the zenith of industrialisation for sustainable development and growth by leveraging local sourcing of raw materials for powering their industrial activities in a manner that reduces their needs of foreign raw materials. “We need to lay emphasis on indigenous industrialisation whereby industries and businesses are in strategic alliances with the academia and R&D institutes,” Eteama recommended.

  • Culture minister visits ailing Nollywood actor Zack Orji in hospital

    Culture minister visits ailing Nollywood actor Zack Orji in hospital

    Arts, Culture and the Creative Economy Minister Hannatu Musawa yesterday visited ailing Nollywood actor Zack Orji at a private hospital in Abuja.

     The minister was received by the wife of the thespian, Ngozi Orji, and some family members.

     According to the minister, the visit was to support the veteran actor, wish him quick recovery and as well convey the Federal Government’s goodwill to him and his family.

     She said: “This is a man that has given his time, his effort not only to make us laugh but to entertain Nigerians for decades.

    “He is one of the individuals that laid the foundation of the film industry in Nigeria. And unfortunately, he is having health challenges and had a Neuro surgery.

     “The least that we can do as an administration is to give him all the necessary support to ensure that he recovers quickly.

     “Neuro surgery is very delicate, so it was important for me not only as a minister of arts, culture and the creative economy, but as a Nigerian to visit him.

    “For me, it was just a matter of coming to see him and his wife, and we are able to talk today, by God’s mercies, he is alive.

    “I want Nigerians to pray for him and do what we can to give the family the necessary support to save his life,” she said.

     Musawa explained that the President Bola Tinubu-led Federal Government understands the pivotal role of the creative industries to national economic growth and was committed to the welfare of stakeholders in the sector.

    Read Also: Obi, Utomi pay condolence visit to Akeredolu’s family in Ibadan

     The minister said: “The ministry of Arts, Culture and the Creative Economy, under my watch, is working painstakingly towards ensuring that programmes and policies are in place towards the welfare of industry players.

     Musawa, who made a personal donation of an undisclosed amount to support the medical bills of the ailing actor, assured that better lay ahead for Nigerian creatives.

      She said: “One of the main initiatives that we have within our ministry is to give welfare, not only to veterans in the industry, but to see how we can give welfare to all members of the industry.

     “We understand that the issue of mental health is key in determining the quality of life of members of the society, especially members in this particular industry.

     “One of our initiatives in the ministry is to ensure that we look at and interrogate the different policies in terms of the kind of welfare that we give them and we will be able to run that very soon.

     “I can assure you that members of the entertainment industry and of course, members of the arts, culture and creative economy will have full support from this particular administration.

     “It is part of the renewed hope agenda of Mr. President to ensure that we give the best and achieve the best in terms of what the industry has to offer.”

     Orji, 64, reportedly slumped and was admitted at the  Intensive Care Unit of the National Hospital in Abuja, before he was transferred to a private hospital for the surgery.

  • President’s New Year address struck right chord with Nigerians, says APC

    President’s New Year address struck right chord with Nigerians, says APC

    The All Progressives Congress (APC) yesterday said that President Bola Ahmed Tinubu’s New Year message struck the right chord with Nigerians.

    It also described the message as an excellent fit for the purpose and occasion it was delivered.

     Dismissing its condemnation by the  Peoples Democratic Party (PDP),  APC said Tinubu’s address was “both in tone and substance measured, sensitive, articulate and highly presidential.”

    A statement by APC National Publicity Secretary Felix Morka in Abuja said the PDP diatribe was a testament to the party’s incapacity to serve as a credible opposition party.

      He said:  ” A New Year speech of any President is a goodwill message to the nation in celebration of the new year. It is a moment for tone-setting of expectations for the year ahead. It is not a  policy speech delivered to a think tank.

    “The President was forthright in his acknowledgement of the transient tough impact that some of the administration’s policies have had on citizens, just as he was categorical in the expression of commitment to do everything under the power of his office to tackle prevailing challenges and secure a safer and stronger country for the benefit of all.

     “The President addressed Nigerians with candour, sensitivity and attentiveness of a kind unknown to the PDP in its 16 years of reckless, and never again, rule.

    Read Also: Why Tinubu govt can’t avoid borrowing, by Osoba

     “The President’s New Year message struck the right chord with Nigerians, assuring of the administration’s commitment to fixing power and energy challenges, locally refining petroleum products, crashing prices of products, creating jobs, enabling a more favourable business environment, tackling insecurity, expanding food security and affordability, implementing new minimum wage for workers, and more.”

    Morka added: “Signing the 2024 budget into law on New Year’s Day is further evidence of the President walking the talk. The President is busy doing the job he was elected to do and will not be distracted by PDP’s idle mischief.” 

     Thr spokesperson said PDP has failed woefully in providing credible and sensible opposition.

     He said: “Democratic opposition politics is not exactly about being a masterclass of incivility or casting crude aspersions without justification. It is also not about a haughty display of ignorance of essential social and economic policy or willful blindness to the administration’s bold and courageous efforts to raise the bar for sustainable growth and development of our country. PDP’s nagging irrationality is a blight on our democracy.

     “If the status of opposition party were a contested one, the PDP would still miserably fail to pass muster.”

  • Gbajabiamila to Nigerians: give Tinubu some time

    Gbajabiamila to Nigerians: give Tinubu some time

    • Chief of Staff to President inaugurates projects in Lagos

    The Chief of Staff to the President, Mr. Femi Gbajabiamila, yesterday urged Nigerians to be patient with the Bola Tinubu administration.

     He said a government’s ability to perform takes experience, pedigree and time to manifest.

    The Chief of Staff also admonished those seeking public offices to “remember that the ultimate and highest legacy we can leave as public servants is in the evident improvements to the lives of the people we serve”.

     He added: “I must also urge citizens to remember that the ability to get things done in government requires experience and pedigree, takes time and demands that we manage expectations accordingly.”

     Gbajabiamila spoke in Lagos while inaugurating some projects he facilitated in his Surulere Federal Constituency when he was Speaker of the House of Representatives.

     The Chief of Staff was accompanied by Governor Babajide Sanwo-Olu to inaugurate the projects, which included a conference centre at the Lagos State University (LASU), Ojo; an ultramodern, multi-floor 80-bed general gospital; the dualised Babs Animashaun Road and Census Bridge; and the Sam Shonibare Community Development Centre, all in Surulere.

    Gbajabiamila, who traced his political trajectory in the last 20 years at the House of Representatives, said it was an honour to serve fellow Nigerians.

     The Chief of Staff thanked Sanwo-Olu “for his support and collaboration through the years because without partnership with the state government, it would have been more difficult to achieve our visions for the projects”. 

    He added: “I am proud that we have constructed over 250 roads in selected federal constituencies in the state, especially Surulere I and II constituencies, and completed 15 mini-stadia.

     “We facilitated heavy investment in education and healthcare, including constructing and equipping over 20 ICT centres in public schools where children are taught computer programming and coding. We have provided solar energy systems to light up neighbourhoods and support commercial trades in our constituencies.”

    Read Also: Obi, Utomi pay condolence visit to Akeredolu’s family in Ibadan

     The general hospital was upgraded from a primary healthcare centre and now boasts advanced and specialist care facilities, a 500kva generator, a 100kva solar-powered electricity supply on the roof, an Intensive Care Unit (ICU), a borehole, a water filtration system and a dialysis centre on the second floor.

    It also boasts a radiology, large laboratory, paediatric, physiotherapy, surgical, and X-ray facilities.

    The Chief of Stuff said the projects were inspired by a sense of duty and part of his efforts to meet the people’s expectations.

    Sanwo-Olu, who thanked Gbajabiamila for partnering the state government, said such fruitful collaborations were part of the administration’s efforts to further its T.H.E.M.E.S agenda.

    The governor described the facility as world-class, adding that it would be managed by the state’s Ministry of Health.

    According to him, to strengthen the state’s medical infrastructure and counter the mass exodus of doctors and other medical personnel, the government will, this year, build a medical university targeted at graduating 1,500 doctors yearly.

    Sanwo-Olu said the institution would be built in collaboration with the Federal Ministry of Health and the National Universities Commission (NUC).

    The governor explained that the facility is needed to abide by the advice from the Federal authorities that the state needs to scale up the number of medical personnel it produces in the light of the shortage of medical health practitioners due to the japa syndrome.

  • 2024 budget: Navigating growth, debt dynamics and strategic priorities

    2024 budget: Navigating growth, debt dynamics and strategic priorities

    The National Assembly has recently approved the 2024 budget, incorporating significant adjustments to key parameters, including an augmentation of the budget size to N28.7 trillion. In this comprehensive analysis, Assistant Editor NDUKA CHIEJINA navigates the complexities of the 2024 budget, shedding light on the nuances of its various components and implications.

    The total budget size for the fiscal year 2024 has surpassed President Bola Tinubu‘s initial proposal by $1.8 billion, reaching $28.7 billion. This upward adjustment has sparked optimism, particularly fueled by the modification of the oil benchmark to $77.96 per barrel. However, this optimism is tempered by concerns about the sustainability of the budget, given the substantial deficit that exceeds $9 billion. 

    To finance this ambitious budget, a securitisation of N7.388 trillion through Ways and Means is planned, alongside potential borrowings amounting to $7.8 billion and €100 million. Noteworthy is the budget’s strategic focus on enhancing infrastructure and fostering development, evident in the increased capital spending allocation of N9.995 trillion. In a bid to prioritise efficiency and instill fiscal discipline, recurrent spending has undergone a reduction, now standing at N8.76 trillion. Within the budget allocations, considerable funds have been earmarked for critical sectors such as education, defense, police, health, and agriculture. This strategic distribution reflects a concerted effort to address key areas contributing to national development and well-being. As the nation steps into the fiscal year 2024, the budget serves as a financial roadmap with the potential to shape economic trajectories and fortify essential sectors.

     The revisions made by lawmakers to the 2024 budget, particularly the adjusted exchange rate and other key parameters, present a nuanced scenario with potential implications for the Nigerian economy. The noteworthy increase in the exchange rate from N750 to N800 per USD suggests that lawmakers anticipate higher export earnings from government-owned enterprises (GOEs) due to a weaker naira, potentially enhancing government revenue. This adjustment reflects the prevailing economic conditions, aligning with the devaluation observed in both the official and unofficial markets. A weaker naira could attract more foreign investment and remittances, contributing to potential positive impacts on the economy.   

    However, there are likely implications from this exchange rate adjustment. Inflation may ensue as the costs of imported goods and services escalate, potentially impacting the overall cost of living for citizens. On the flip side, the global affordability of Nigerian exports might rise, potentially bolstering export volumes and earnings. While the exchange rate adjustment is a notable change, maintaining other parameters such as oil production, price, and GDP growth introduces additional complexities. Achieving the 1.78 million barrels per day (mbpd) production goal could be challenging due to current production issues and OPEC quotas, which may impact budget revenue. Similarly, the set US$77.96 benchmark for oil prices could face challenges amid global economic uncertainties and oil price fluctuations, potentially leading to budget deficits.

     Achieving the 3.88 percent growth, as sanctioned by the National Assembly, hinges on the effective implementation of the budget and favorable economic conditions. However, both external and internal factors present potential hindrances. The alterations made to the original budget proposal, especially the revised exchange rate, introduce a mix of opportunities and risks, shaping the economy’s response. Several factors will influence the outcome, including the efficiency of revenue collection, prudent allocation, and effective debt management. These elements are pivotal for securing favorable outcomes and ensuring the intended growth. External influences, such as shifts in oil prices and global economic downturns, will play a significant role in determining the performance of the 2024 budget.

     Moreover, public trust in budget administration is a crucial component for sustainable economic progress. The modifications made by lawmakers to the 2024 budget underscore the complexities of economic policymaking, raising questions about their potential effects. Vigilant monitoring of budget execution and its economic impacts, coupled with a readiness to adapt to unfolding circumstances, remains imperative in the coming year.

    Read Also; 163,878 Nigerians enjoyed FG transportation rebate in 10 days

    Growth versus debt

    The decision to securitise Ways and Means in the 2024 budget carries both potential benefits and challenges. Ways and Means, a form of borrowing from the Central Bank of Nigeria (CBN) to address temporary funding gaps, has led to a substantial strain on the CBN’s balance sheet, accumulating a debt of N23.7 trillion. The proposed securitisation involves converting this debt into long-term bonds, which would then be sold to investors in the capital market. This strategy aims to provide fiscal breathing room for the government while alleviating the burden on the CBN.

     Securitisation offers several potential advantages. It has the potential to lower interest rates, enhance fiscal transparency, and reduce immediate repayment pressure. By transforming short-term debt into long-term bonds, the government can spread out its obligations and minimize the strain on its financial resources. However, securitisation also presents challenges. While it eases immediate fiscal pressures, it adds to the overall debt burden of the government. This necessitates the development of clear and credible long-term debt repayment strategies to ensure sustainability. Successful implementation relies on attracting sufficient investors at favorable interest rates, underscoring the importance of continued commitment to fiscal discipline and economic reforms. Additionally, the 2024 budget outlines an increased reliance on government-owned enterprises (GOEs) for revenue as another strategy. This approach demands improved performance and governance within these entities to effectively contribute to the revenue stream.

     The effectiveness of securitisation in the 2024 budget depends on the specific terms of the bonds, transparency, and accountability measures. Continuous monitoring of its impact on the Central Bank of Nigeria (CBN) and the overall economy is crucial for informed decision-making. Prudent management and the implementation of effective long-term debt strategies, alongside revenue generation from government-owned enterprises (GOEs), will ultimately determine the success of this fiscal policy. Commendably, the prioritisation of capital spending in the 2024 Nigerian budget, especially the increased allocation to infrastructure projects and development, aligns with Nigeria’s National Development Plan. Investing in critical infrastructure has the potential to stimulate economic growth, create jobs, and enhance the quality of life for citizens. However, the success of these investments is contingent upon addressing challenges and mitigating associated risks.

    Effective implementation and accountability stand out as critical factors in the success of infrastructure investments. Project selection should be driven by rigorous cost-benefit analyses and developmental needs rather than political considerations. Robust measures must be in place to prevent corruption and streamline procurement processes. The shortage of skilled personnel within government agencies poses a potential obstacle to project execution and quality control. To avoid mismanagement and public distrust, it is essential to establish adequate oversight mechanisms and ensure public access to relevant information. Diverse perspectives should be considered in this process. Some may express concerns about potential neglect of other critical sectors like education and healthcare. Striking a balance between infrastructure investment and human development is key to achieving comprehensive national progress. Additionally, questions may arise about the sustainability of increased capital spending in light of the government’s high debt burden. Therefore, maintaining fiscal discipline and exploring alternative financing mechanisms, such as public-private partnerships, are important considerations.

    Read Also: Plateau crisis: Pray against killings in 2024 – CAN president

     To ensure the success of capital spending, key recommendations include strengthening project selection and evaluation processes, implementing robust anti-corruption measures, investing in skills development within government agencies, enhancing public participation and information sharing, and exploring innovative financing models and revenue diversification. Adopting a holistic approach that addresses these aspects will contribute to the effective and sustainable implementation of capital projects in Nigeria. The government’s commitment to good governance, transparency, and accountability will ultimately determine the effectiveness of prioritising capital spending. If done right, these investments can fuel long-term economic growth and development in Nigeria.

    Nigeria’s oil revenue dependency in the 2024 budget

    A staggering 41.9 percent of Nigeria’s 2024 budget relies directly on oil revenue, signifying that nearly half of the government’s income is contingent on crude oil sales. This heavy reliance poses significant concerns for several reasons. Oil prices notoriously fluctuate based on global economic conditions, political instability, and supply chain disruptions, rendering oil revenue unpredictable. This volatility makes effective government planning and budgeting challenging.

     Oil, being a finite resource, poses a risk of depletion. Heavily depending on it jeopardizes future income sources, potentially threatening the country’s long-term economic sustainability. In addition, over-reliance on oil exposes the economy to uncontrollable shocks, such as oil price slumps or global recessions, amplifying economic vulnerabilities. Recognising these risks, the federal government has prioritised revenue diversification for years, aiming to reduce dependency on oil and explore alternative income streams. Key initiatives include: investments in agriculture, manufacturing, tourism, and the tech industry seek to expand these sectors and generate additional revenue.

     Strengthening tax administration and expanding the tax base emerges as a pivotal strategy to boost domestic income, fostering diversification beyond oil in export sectors. This multifaceted approach aims to fortify foreign exchange earnings and reduce dependence on volatile oil revenue. Despite concerted efforts, the progress in diversification has encountered obstacles such as corruption, bureaucratic inefficiencies, and inadequate infrastructure, hindering the growth of non-oil sectors. The high political risk and economic uncertainty have also deterred foreign investment, restricting capital inflow into alternative sectors. An aspect less frequently discussed is the resistance from powerful entities within the oil industry, who may actively oppose diversification efforts that challenge their economic dominance.

     The persistent reliance on oil revenue remains a significant vulnerability for Nigeria’s economy and long-term development. Urgent action is needed to accelerate diversification by addressing these underlying challenges and creating an environment conducive to the growth of non-oil sectors. This strategic shift will not only enhance economic stability but also reduce susceptibility to external shocks, fostering a more sustainable future for Nigeria.

    The N9.18 trillion deficit in the 2024 budget

    The N9.18 trillion budget deficit in Nigeria’s 2024 budget carries profound implications for the economy in the coming year, reflecting government borrowing to bridge the revenue-expenditure gap. This deficit adds to the existing debt load, currently accounting for around 38 percent of GDP. Excessive debt poses the risk of diverting funds from critical areas such as social services and infrastructure, potentially diminishing credit accessibility for businesses. Economic vulnerability increases, rendering the economy susceptible to external factors like rising interest rates or global recessions.

     Inflationary pressures are a significant concern associated with government borrowing, as it can strain the money supply, potentially causing inflation. This inflationary impact can affect citizens’ purchasing power and business profitability, while investment uncertainty may erode confidence in the economy, discouraging long-term planning. Another potential consequence of the 2024 budget deficit is the risk of crowding out private investment. Government borrowing, in this scenario, competes with private businesses for financial capital, limiting access to funds for businesses and potentially stalling economic growth.

     However, managed prudently, deficit spending has the potential to inject funds into the economy, stimulating demand and potentially leading to accelerated GDP growth. Increased investments in critical infrastructure and social sectors could yield long-term benefits and generate employment opportunities. The deficit underscores the urgency of diversifying the economy away from oil dependence. This diversification could increase revenue from non-oil sectors, enhance economic resilience to oil price fluctuations, and create new job prospects across diverse sectors.

     The success of managing the deficit depends on the government’s approach to borrowing, whether it’s done domestically or externally, impacting interest rates and inflation. Effective management and utilization of borrowed funds are crucial to prevent waste and corruption. External factors such as a global economic slowdown or geopolitical tensions can significantly influence the economy and budget outcomes. While the deficit as a percentage of GDP (3.88%) is lower than in previous years, maintaining fiscal discipline is crucial to prevent a continuous upward trend in deficits. The allocation of spending, particularly in sectors like infrastructure and education, will significantly impact the deficit’s long-term effects. Vigilant monitoring and adjustments are critical to mitigate risks and maximize potential benefits for sustainable economic growth in the new year. The Nigerian government’s borrowing plans and the utilisation of Ways and Means concerning the 2024 budget deficit pose a complex dilemma with multifaceted considerations, involving trade-offs and risks shaped by various factors.

    Arguments for and against borrowing

    Financing critical infrastructure through strategic borrowing plays a crucial role in fostering investment in essential sectors like roads, power grids, and transportation. This approach stimulates economic growth, job creation, and enhances productivity, competitiveness, and living standards. Strategic borrowing, especially during economic downturns, can provide a temporary stimulus, helping mitigate recessionary effects and supporting economic recovery when alternatives like tax hikes or spending cuts are not viable.

     However, arguments against borrowing highlight concerns about adding to existing debt, questioning its sustainability and potential adverse effects such as higher interest payments, resource diversion from social services, vulnerability to economic shocks, and credit downgrades. Increased borrowing may strain the money supply, potentially leading to inflation, reducing citizens’ purchasing power, and impacting business costs and investment confidence. Specific concerns arise with the reliance on Ways and Means, which can burden the Central Bank of Nigeria and potentially impede its ability to maintain monetary policy stability and manage inflation. Historical concerns about transparency and accountability in managing Ways and Means increase the risks of misuse and corruption. While Ways and Means is intended as a temporary financing mechanism, excessive reliance on it can create instability and jeopardize fiscal sustainability.

     The government’s borrowing plans and use of Ways and Means require a nuanced assessment of risks and benefits based on economic conditions, budget allocations, and debt management strategies. While borrowing can offer advantages for infrastructure and economic stimulus, responsible management, fiscal sustainability, debt reduction, and revenue diversification measures remain crucial for long-term stability. Transparent public finance management is essential for trust-building and responsible economic governance.

    What the experts say

    The 2024 budget, recently approved by the National Assembly, presents a mixed scenario of promise and concerns for Nigeria’s economic landscape. The positive aspects include increased spending on infrastructure and a targeted focus on key sectors such as education and security, indicating a commitment to addressing critical needs. However, the significant concern arises from the substantial budget deficit and the reliance on debt to finance government activities. The expanding deficit raises questions about the sustainability of the budget, as it contributes to the already substantial national debt. Cautious optimism is warranted, as excessive debt levels can divert funds from essential areas, potentially limiting credit accessibility for businesses and making the economy more vulnerable to external shocks.

     The success of the 2024 budget hinges on effective management, transparent utilization of borrowed funds, and a commitment to fiscal discipline. Striking a balance between strategic borrowing for crucial investments and ensuring long-term economic stability will be crucial for navigating the challenges and opportunities presented by the budget. Vigilant monitoring and adjustments, along with proactive measures to diversify revenue sources and stimulate economic growth, will be essential in realizing the positive potential of the budget while mitigating risks associated with the deficit and reliance on debt.

     Economist Dr. Wahab Balogun, in a conversation with The Nation, provides insights into the intricacies of the recently approved budget and raises caution about potential pitfalls. Dr. Balogun acknowledges the positive aspect of increased allocations, especially for capital projects, considering it a welcome move. He emphasises the significance of investing in infrastructure as a crucial driver of economic growth and an improvement in living standards. The acknowledgment of the importance of capital projects aligns with the broader economic consensus that strategic investments in infrastructure can stimulate economic activity, create job opportunities, and enhance overall prosperity. Dr. Balogun’s perspective adds weight to the understanding that while there are positive elements in the budget, careful consideration and monitoring are essential to avoid potential challenges. This includes ensuring effective utilisation of funds, maintaining fiscal discipline, and addressing any risks associated with the budget implementation. Balancing the positive aspects with vigilant oversight will be instrumental in realising the intended benefits of the increased appropriations.

     However, he expresses concern about the widening deficit, exceeding $9 billion. “A deficit of this magnitude is unsustainable in the long run,” he cautions. “The government must prioritise efficient revenue generation and implement credible debt management strategies to avoid a fiscal crisis.” The securitisation of the N7.388 trillion Ways and Means, while providing temporary relief to the Central Bank, is not a long-term solution, Dr. Balogun stresses. “The focus should be on structural reforms that reduce reliance on overdrafts and promote fiscal discipline,” he advises. The increased allocation to the education sector, including N850 billion for basic education, finds favour with Dr. Balogun. “Investing in human capital is vital for achieving sustainable development,” he says. “An educated and skilled workforce is the backbone of any thriving economy.”

     However, he expresses concern about the balance in sectoral allocations. “While security is undoubtedly important,” he asserts, “significant allocations to defense and police must be weighed against investments in social sectors like healthcare and agriculture.” The National Assembly’s proactive role in revising the budget is commended by Dr. Balogun. “Their scrutiny and adjustments reflect their commitment to ensuring the budget aligns with national priorities,” he says. “However, effective oversight and transparency in budget implementation are crucial to ensure the allocated funds are utilized efficiently and for their intended purposes.” Dr. Balogun concludes by highlighting the challenges and opportunities ahead. “Inflationary pressures and global economic uncertainties pose risks to the budget’s projections,” he warns. “Diversification of the economy beyond oil dependence, strengthening tax administration, and tackling corruption are essential for boosting revenue and ensuring long-term economic stability.”

      Overall, Nigeria’s 2024 budget presents a complex picture. While its focus on infrastructure and human capital development is commendable, the sustainability of the deficit and reliance on debt raise concerns. Prudent financial management, efficient resource allocation, and sustained economic diversification will be key to translating the budget’s aspirational vision into tangible outcomes for the Nigerian people.

    On his part, Mr Gbolade Idakolo, Managing Director/CEO SD&D Capital Management Limited stated that the “budget as passed by the National Assembly is insensitive looking at the additional N1.2 trillion added to the budget and the increase of additional $1.8 billion in the NASS budget. “Commendably,  Defence,  Education, Police, Health and Social welfare got the lion share of the budget. If properly implemented, these would increase security lift people out of poverty and cater for the decay in our educational system. The budget assumption of N800/$1 is realistic. However, deficit funding for over $9billion with our debt servicing of about N8.7 trillion are major challenges that could affect proper implementation of the budget. Following the footsteps of the past administration the President Tinubu has sort for and gotten approval for additional loans $7.8billion and €100m to fund the budget” he said.

  • ‘Even crawling babies were not spared by our attackers’

    ‘Even crawling babies were not spared by our attackers’

    • Survivors of carnage relive ordeal
    • ’How my two hands were cut off in process of self defence’
    • My entire 21 relatives were wiped out, says victim

    Heaps of lifeless bodies and injured victims are the pathetic sights that confront a visitor to the scenes of the victims gathered by the search and rescue team set up by the communities attacked by gunmen in Plateau State. Many of the bodies of the about 140 victims of the ugly incident were those of innocent children.

    “The children were too innocent to be attacked by anyone for any reason. The only reason to kill such innocent children in a war situation is if genocide was the target of the attackers. So there is no doubt that the killings were purely genocide,” said Joshua Mangut in Bokkos.

    Instead of the merriment, bliss and exchange of love that usually characterises Christmas and the Yuletide, many Plateau communities including Ndun, Ngyong, Murfet, Makundary, Tamiso, Chiang, Tahore, Gawarba, Dares, Meyenga, Darwat and Butura Kampani are left to agonise over the death of their loved ones.

    Usually, from the 24th of December in such Christian communities, the mostly Christian families would have gathered all the foodstuffs and drinks they would need for the celebration of Christmas. This time, however, they were denied the opportunity to enjoy all that they had prepared for themselves.

    As the people were about to go to bed in the hope of waking up to another Christmas day, the gunmen struck.

    One of the victims, a 65-year-old housewife named Rebecca Maska, said: “We were in the house in Darunwat, Barkin Ladi Local Government Area, preparing to celebrate Christmas.

    Read Also; Tinubu is determined to end reign of terror in Southeast – Shettima

    “We had finished frying our meat and I started washing the rice and had parboiled it to make my cooking the next morning faster.

    “After that, I set out to have a bath before going to bed. When I had finished bathing, I entered the room to dress up. Then I heard the sound of gunshots that moved rapidly close to the church.

    “One of our little sons told me that we should get out and run. We ran into the next compound, which was a traditional ruler’s house, to hide there.

    “Before we knew what was happening, the Fulani marauders had gained entry into the palace. We escaped through the back door and headed into the bush. We then hide in a place close to a river.

    “Before I realised was happening, a marauder behind me greeted in Fulani and shot me in the thigh. I shouted and fell down, and was left in a pool of blood while my children fled in different directions.

    “At that time, I could not stand up, and there was nobody to help me. I was there for more than three hours. That was when my son called the soldiers and told them that her mother was in the bush.

    “That was when the soldiers came to my rescue and rushed me to a nearby hospital in Barkin Ladi where I was revived. But the bone is fractured.”

    But many other victims in Darunwat were not as lucky as Rebecca as 17 of the villagers were killed in cold blood and were eventually buried in a mass grave on Christmas day.

    One of the villagers, Silas Malang, said: “Mourning and burying loved ones on a Christmas day is the most painful experience in my life. My family had prepared a meal for the next day, but we never ate the meal.

    “When the gunmen struck, we spent the night in the bush, and from our hidden place we keep hearing sounds of gunshots till dawn. It was a war we never prepared for.

    “By the time we returned home from the bush, the house we left behind was already in ruin, including our Christmas meal. Now we are in an IDP camp.”

    Freedom Alfred, a 12-year-old boy seen at the IDP camp in Bokkos, said amid tears: “I heard the sound of gunshots and was hiding to escape been killed.

    “In the process, one of the tall Fulani marauders shot me in the arm. I started pleading with them not to kill me, but they did not heed my plea as they continued to beat me and wanted to machete me.

    “I fell down and pretended to be dead. Then they abandoned me and left.”

    Another survivor, a 34-year-old from Barkin Ladi, Mascan Nanpan, told The Nation that the gunmen that invaded the communities were more than 500.

    Nanpan said: “Those that surrounded our village alone were more than 200, and it was difficult to escape. It was God that saved me.

    “I sat down and later decided to enter the room and locked myself in. On arrival, they forced the door open.

    “Immediately, they entered and called my name, and asked if I’m the one that work in so and so place. I pleaded with them that I was sick. The next thing they did was to machete me and vowed that I must die.

    “On lifting the cutlass up and trying to cut my neck, in self defence I raised my right hand and it was cut off. Still in the process of defending, they cut off the second hand too.

    “They also broke my two legs, and I pretended as if I was dead.

    “Still not satisfied, they inflicted cuts on every part of my body until they felt that I was dead. Then they set the bed ablaze.

    “When they saw that I still did not move, they concluded that the bastard was dead.

    “I can recognise two of them. But three of them came to carry out the operation. The two are well known faces.”

    A 45-year-old Febi Moses Chirang, who is the only survivor from his family, told The Nation that he lost 23 members of his family during the attacks.

    He said: “Most of the victims are the aged and children who were too weak to run. We saw them with guns, tall and light complexioned.

    “They came from the top hill of Josho. At the time I saw them, I came out from the house to pick firewood. When I saw them, I quickly called the attention of our father that some strange faces were descending from the hill top of Josho.

    “Then our father saw them. But before they knew what their mission was, the Fulani marauders had started shooting. They went straight to where the women and children were hiding and killed 21 of them. Some injured ones are being hospitalised in Bokkos and JUTH. All my relatives have been wiped out; about 21 of them.

    “Nobody knows the mission of the attackers. Our home has been destroyed and we are now in a camp.

    A more chilling experience was narrated by an expectant mother, Mrs Ruth Bulus, who lost her two children and husband and now lives in an IDP camp.

    She said: “When the killers entered our compound there was confusion and everyone was running for their lives.

    “My husband and I ran in different directions. It was needless to wait for anything.

    “The next day, I was told they saw my husband’s corpse in the bush, and later I heard that they saw my children’s massacred bodies.

    “Our house was completely burnt down. We could not remove a pin from it.

    “I don’t know where to return to after this camp.”

    Cases of displaced expectant and nursing mothers are many at the IDP camps. It was such situation that moved the Vice President, Ibrahim Shettima, to apologise over the failure of federal government to protect the victims from attacks.

    Shettima also said that President Bola Ahmed Tinubu was deeply saddened by the tragedy and shared in “this unspeakable sorrows that have shattered the joy of Christmas across the country.”

     He said: “When one community bleeds, the entire country feels the pains.

    “The pains we feel now transcend ethnicity and religion, geography or politics. Each of us here knows the pains of losing one or two loved ones.

    “Burying a member of a family is rear experience and indescribable nightmare.

    “We cannot really assuage your pains. What has happened to you is a funeral to the entire nation.

    “Our hearts bleed along yours my dear brothers and sisters from Bokkos and Barkin Ladi.”

    The VP added: “We came to power promising to uphold the sanctity of everyone’s life, and now is to assure you that these inter-community violence that has persisted on the Plateau for the past decade will never persist under our watch. We will harness all our resources to bring those responsible to justice.

    “We will not rest untill we are able to prevent the recurrences of this heinous acts.

    “Your blood and your tears stain our collective conscience. Why it may seemed that we have failed you in your time of need, while it may seemed that you are all alone, I assure you that this government, especially president Bola Ahmed Tinubu, is here to protect you.

    “This government is here to deliver justice. We believe that justice is our collective foundation for our unity and our healing.

    “Our dear brothers and sisters in Plateau State, we appeal to you to resist the temptation to succumb to the poisonous rethorics of hatred towards your fellow citizens as we pursue justice and ensure your security.

    “These violence persist due to the dangerous practice of testing criminals as ambassadors of their groups, and where the law is taking into their hands where protection fails.

    “This is not the case now. This is a solemn promise I’m making on behalf of President Bola Ahmed Tinubu.

    “Please accept our condolences. Please accept our deepest apologies, because we won’t rest until you access justice and until you accept it.”

  • Lagos begins fulfilling promise to address water challenges

    Lagos begins fulfilling promise to address water challenges

    • Communities get help 25 years after
    • We’ll soon complete projects across state – LWC MD

    When we published a report few weeks ago about water challenges in Lagos State and how depraved business people were latching onto the opportunity to flood the state, Lagos Island in particular, with all manners of packaged water, the Lagos State government assured that it was working hard to end the challenges of lack of access to potable water in the state.

    The government’s statement, though sounded like the usual tongue in the cheek response of state actors to media inquiry, but recent completion of Abesan water works in Alimosho local government area of the state where the people had suffered water challenges for 25 years showed that the government is walking its talk and may by so doing end the business of killer water merchants. INNOCENT DURU reports.

    For the past 25 years, the residents of Abesan Estate, the largest estate in Lagos State and environs had grappled with the challenges of having clean and potable water.

    The water sources, wells and boreholes are polluted by petroleum products sipping into them from burst pipes.

    Consequently, the people could not use the water and had to travel many miles to buy water which they weren’t sure of its fitness for consumption.

    But the people heaved a sigh of relief recently when the state government revived and recommissioned the moribund the Mosan Okunola water works at Abesan Estate.

    Elated by the development, the traditional leader of Fatade area of Alimosho, High Chief Kamorudeen Amao said: “We thank God for what the Lagos state government has done. I am very happy that they have intervened in our situation. Our prayer is that God will give them the grace to maintain it.”

    The water plant will provide two million gallons of water per day for the people.

    Prior to the revival of the water plant, Chief Amao said: “We have been having water challenges for the past 25 years. Petrol sipping into the ground was affecting our water.  When we fetch water from our boreholes, it is petrol that we would get from it. The polluted water was affecting our people.

    “Personally, each time I bathed with it, I always had challenges with my skin. There have been reported cases of skin irritation by people using the water. Instead of using the water, we would rather travel some distances to fetch water.”  

    Asked how well they trusted the water they were going to fetch, Chief Amao said: “We still cannot vouch for the water we were fetching from other places. We just have to make do with what we have. We buy that water because we feel that it is somehow good when you drink it.”

    The traditional leader of Baruwa, Alhaji Halid Baruwa was also gladdened by the intervention of the state government.

    Read Also; FULL LIST: All past Ondo governors dead except Mimiko

    “We thank God for what the Lagos State government has done with this project,” he said as he went down memory lane to relive the hardship they had suffered as a result of not having access to clean water.  

    “Our water was polluted by petrol since 1998. We were always buying water. As retired civil servants, we were buying water using the meager pensions we are receiving.

    “We can’t tell how good the water we were buying was because we had no opportunity of carrying out laboratory test on them. There is no any form of treatment for the water the water that the federal government provided for us, we were told is not fit for human consumption because of the iron content.”

    Speaking at the re-commissioning of the project and flag off of reticulation extension in Baruwa area of Alimoso Local Government area of the state the General Manager of Lagos Water Corporation (LWC), Engineer Mukhtaar Tijani expressed joy that the project saw the light of the day in spite of challenges facing the corporation. His words: “I stand before you today with great joy and enthusiasm as we gather to witness a significant milestone in the provision of potable water to our communities. Before delving into the details of the Abesan Mini Waterworks project, let me briefly speak on some of the challenges faced by the Lagos Water corporation today.

    “Lagos, with its status as one of Africa’s most densely populated cities, serves as Nigeria’s economic hub, boasting a population of over 21 million inhabitants. The Lagos Water Corporation (LWC), tasked with providing potable water in the state, has encountered hurdles over the years, including aging infrastructure, energy shortages, and operational limitations.

    “In response to these challenges, the state government, under the leadership of our Governor Mr. Babajide Olusola Sanwo-Olu, took proactive measures to revitalize and reposition the Lagos Water Corporation.

    I must express our gratitude for the unwavering support from Governor Sanwo-Olu and the Hon. Commissioner of Environment and Water Resources, Mr. Tokunbo Wahab. With their support we have embarked on several initiatives that will reposition the corporation for operational and commercial efficiency, such as:

    ●             On-going emergency Intervention on Adiyan Phase I, Iju and Akute Intakes, which when completed will increase the plants (Adiyan & Iju) capacity utilization.

    ●             On-going Rehabilitation of Isashi Waterworks and extension of Reticulation to LASU & Iba Estate

    ●             On-going internal restructuring of the operations of Lagos water Corporation.

    ●             On-going addition of 70MGD Adiyan Phase II Water Treatment Plant Project, which when completed will serve almost 3million of the State population with impact to the following areas (Ipaja, Ayobo, Idimi, Ikotun, Isolo, Kirikiri, Amuwo, Ajegunle, Apapa, Agege extension and boost supply to already served Lagos metropolis).

    These Initiatives when concluded will significantly contribute to our goal of providing potable water to the residents of Lagos State.”

    Continuing, he said: “Now, let’s shift our focus to the reason we are here today, the Abesan–Baruwa Water Supply Scheme. Recognizing the immediate need to address water supply challenges in the Abesan Housing Estate, the Lagos Water Corporation embarked on a targeted approach to solve this problem in the most efficient manner possible.

    “Two key water sources, Mosan Okunola 2MGD Waterworks in Abesan Estate and the Adiyan Phase I Waterworks, supplied water to this area. Knowing that Adiyan Phase I waterworks is currently undergoing rehabilitation and will be unable to operate at optimal capacity until the conclusion of the rehabilitation, we shifted our focus to the non-operational Mosan Okunola Plant. The restoration of the plant became a priority for us. The extensive rehabilitation work done on the plant includes but is not limited to the rehabilitation of existing electro-mechanical infrastructure such as pumps, drilling of new boreholes, and power equipment upgrades including a new transformer and earthing system.

    “I am pleased to announce that through the hard work and collaborative efforts of the contractor Aquadrill Nigeria Ltd and the project team led by Engr Lawal of LWC, the operational capacity of the Mosan Okunola 2MGD Waterworks has been successfully restored. In addition to this, the 5km reticulation network around the estate is now energized, as we have carried out significant repairs to the pipe network over the past 6 weeks and as we speak we have over 5 metered customers receiving water from this water treatment plant in Abesan Estate.

    “At the Abesan Estate Gate on Ipaja Road, we have connected this water treatment plant to the Baruwa community who has suffered significant ground water issues in recent times.  The successful linkage of the Mosan Okunola Plant with Baruwa community now allows us to supply water to specific areas, including Baruwa compound, Taiwo close, Fatade Road, Sule Street, Oyewole Street, and Pipeline Road. Looking ahead, we plan to extend the pipe reticulation within Baruwa, covering approximately 3km. This expansion will positively impact areas such as Asalu Lawal Street, Ajibola Street, Remilekun Street, Odubakin Street, Adebanjo Street, Kareem Street, and more.”

    The MD went on to appreciate the host community, saying: “I want to extend my gratitude to the residents of Abesan and Baruwa for their input and cooperation during our test running phase, where valuable feedback was received and leakages were reported by residents, we most especially appreciate individuals like Mrs. Shola, Mr. Sakaraya, Mr. Remi, and others for their contributions. Special thanks to the Baale of Baruwa Community for his support during the network linkage implementation. We could not have done it without all of you.

    “I am going to conclude this speech by calling for the cooperation and collaboration of the residents of Abesan and Baruwa. I call on you to reconnect to Lagos Water Corporation services and ensure prompt payment of your water bills. To incentivize this, we are offering fifty (50) free house connections on a first-come, first-serve basis. We assure you that our operational team will promptly address leakages and customer requests, ensuring continuous supply of quality, potable water to the community.

    “A heartfelt thank you to our partners, including the Federal Ministry of Environment and Water Resources, USAID, WaterAid, Resilient Water Accelerator, and others. Your continued support is invaluable. We also seek your support for the timely completion of the pipe reticulation extension within Baruwa.

    To our esteemed principal, Governor Babajide Sanwo-Olu, today’s achievements were made possible through the internal revenue generated by LWC. With your continued support, we pledge to achieve even more and remain steadfast in delivering on Mr. Governor’s THEMES+ Agenda.Thank you all for being part of this success story, and we look forward to a future of improved water supply for Lagos State.”

  • Akeredolu: from the Bar to political podium

    Akeredolu: from the Bar to political podium

    It is the end of an era in Ondo State. Southwest is united in sorrow. The Nigeria Governors’ Forum (NGF) is in sober reflection; its rank is depleted. Above all, the Akeredolu family in Owo is hit by a blow of fate.

    Yesterday, Oluwarotimi Odunayo Akeredolu (SAN), lawyer-son of a Christian priest, former President of the Nigeria Bar Association (NBA) and governor of the Sunshine State, bade farewell after a long and protracted battle. He never revovered from the precarious ill-health, which had diverted his attention from governance for months.

    He was the first Ondo governor to die in office, trailing the likes of Patrick Yakowa (Kaduna) and Danbaba Suntai (Taraba) who died in helicopter crashes, Senator Mamman Ali (Yobe) who died after illness and Sheu Kangiwa (Sokoto), who died in the course of polo game.

    Akeredolu led a life of battles from childhood. After losing his cleric-father at a tender age, he embraced the reality of hard times and faced the vicissitudes of life with courage, a virtue that henceforth shaped his steps, career as a legal officer, politician, and administrator.

    He was never given to frivolities. He had no room for prevarication. Ever forthright, he was opposed to any embellishment. Never diplomatic, he spoke the truth to power; unpretentious, outspoken, bold, brave, principled, strong willed, audacious and permanently fearless. He was a vocal advocate of justice who built a solid wall of restriction against oppression.

    Either as Attorney-General and Commissioner for Justice, NBA president, Action Congress of Nigeria (ACN), and later All Progressives Congress (APC) chieftain, governor, Chairman of Southwest Governors’ Forum, or Chairman of Southern Nigerian Governors’ Forum, he exhibited sterling qualities in times of ‘peace and war.’

    Fondly called by his prefix, Arakunrin, and Aketi, his nickname, by his admirers, Akeredolu bestrode the political and governance space, the same way he was a colossus at the bar. He was not a politician without a second address. An outstanding lawyer, he was a Managing Partner at the law firm of Olujinmi and Akeredolu, which he co-founded with Chief Akin Olujinmi, a former Attorney General and Minister for Justice .

    Akeredolu was born on July 21, 1956 in Owo to Reverend Ola Akeredolu and Lady Evangelist Grace Akeredolu of Aderoyiju family of Igbotu, Ese Odo, in Ondo State.  He started his primary education at Government Primary School in Owo. He proceeded to Aquinas College in Akure, Loyola College in Ibadan and Comprehensive High School, Ayetoro, for his secondary school education and Higher School Certificate.

    Akeredolu attended the University of Ife (now Obafemi Awolowo University) to study Law, graduating in 1977. He was at the Nigerian Law School in 1978.

    He was appointed Attorney-General of Ondo State from 1997 to 1999. In 1998, he became a Senior Advocate of Nigeria. He was Chairman of the Legal Aid Council (2005–2006). In November 2009, he faced allegations of corruption when the Bar Association’s third Vice-President, Welfare Secretary and Assistant Financial Secretary circulated a petition entitled: “Complaints against your fraudulent manifestations, violation of the NBA.” However, the allegations against him were reviewed and dropped by the National Executive Council of the NBA.

    As an activist lawyer, he advocated for the rule of law, due process and sanctity of the ballot box.

    He also called for vote or mandate protection.  In a lecture in December 2009, Akeredolu said no amount of electoral reform or judicial system could give Nigeria free and fair elections if Nigerians themselves refused to take practical steps to ensure that their votes count.

    During the period of grave national emergency when President Umaru Yar’Adua was indisposed for a long time, Akeredolu said he ought to have handed over to Vice-President Goodluck Jonathan in an acting capacity. The position was backed by the NBA, which said he was authorised to speak on its behalf. The position gave an impetus to the invocation of the doctrine of necessity.

    A Life Bencher, Akeredolu was Member of Council, Int’l Bar Association, 2008-2010; Member of Council, Pan-African Lawyers Union, 2008-2010; Chairman, Legal Aid Council (2005-2006); Member, Council of Legal Education (1997-1999); Vice Chairman, NBA, Ibadan Branch (1992-1994), National Publicity Secretary, NBA (1988-1989), member, National Executive Council, NBA.

    In 2012, the NBA named its new secretariat in Abuja after him, with its president citing the reason being the need for “generational identification and recognition of those who had contributed immensely to the development of the association.

    On February 4, 2022, he made Grand Patron of the NDLEA by the Chairman of National Drug Law Enforcement Agency (NDLEA), Brig-Gen. Mohammed Buba Marwa.

    In October 2022, the national honour of Commander of the Order of the Niger (CON) was conferred on Akeredolu by former President Muhammadu Buhari.

    Politics has always been in his blood from his campus days. A Student Union leader, he promoted robust debates and mobilised against inequality, injustice, corruption, arbitrariness and recklessness.

    His disposition cast him in the mould of a progressive. In fact, Akeredolu was actively involved in the battle for the liberation of the Southwest from the conservative Peoples Democratic Party (PDP) forces. He was counsel to ACN governorship candidates whose mandates were stolen.

    However, in November 2011, Akeredolu joined the fray. He was among the crowd of ACN governorship aspirants. Indisputably, he was the best. He flaunted his credentials as a respected president of the Bar and an experieced technocrat who understood the problems of Ondo State. His manifesto was captivating- agricultural development, fish farming for export, free education and healthcare, 30,000 jobs for youths in the first 100 days, roads, increased subsidies and greater local control over public spending.

    On July 28, 2012, Akeredolu was selected as ACN governorship candidate at a congress in Akure. But, he was defeated by Governor Olusegun Mimiko of the Labour Party (LP).

    Akeredolu never abdicated. Although he wanted to be National Legal Adviser of the party, he had to drop the bid as Dr. Muiz Banire (SAN) was favoured for the position. But, he started nurturing his political structure ahead of 2016. His Aketi Movement became unstoppable.

    On September 3, 2016, Akeredolu defeated Dr. Segun Abraham and Olusola Oke (SAN) at the primary on the platform of the APC. On Sunday, 27 November 2016, he was declared winner of the keenly contested governorship poll. He defeated Eyitayo Jegede (SAN) of PDP.

    Read Also: Akeredolu was a patriot, Mimiko mourns

    During the first term, crisis erupted between him and his deputy, Agbola Ajayi. Thus, when he ran for a second term, he chose Lucky Aiyedatiwa as running mate. Akeredolu was re-elected in 2020, defeating Jegede  for the second time. He won in 15 of 18 local governments.

    After securing a second term, he started drumming support for governorship zoning to Ondo South. That is why the district has the highest number of governorship aspirants, including Finance Commissioner Wale Akinterinwa, Senator Jimoh Ibrahim, Oke, and Aiyedatiwa.

    As governor, Akeredolu was a dogged fighter. He was the motivator of the initiative that led to the establishment of the security outfit, Amotekun,  which has reduced insecurity in the Southwest.

    Akeredolu objected to the invasion of reckless herders and he demanded for state police, devolution of power and restructuring  to strengthen the capacity of states and governors as chief security officers. After the Owo massacre, he became more vociferous, decrying the over centralisation of the security architecture.

    On a number of occasions, he was an ardent critic of the Buhari administration.

    Akeredolu, who was Chairman of Southern Nigerian Governors’ Forum, mobilised his colleagues across parties to canvass presidential zoning to the South.

    During the 2023 engineering, Akeredolu was a staunch supporter of Asiwaju Bola Tinubu for president at the primary and general election.

    However, in the last one year, Akeredolu’s health had deteriorated. He was flown abroad for treatment for medical condition in June.

    He transmitted power to his deputy, Aiyedatiwa, in accordance with 1999 Constitution. He returned to Nigeria from Germany in September. He stayed in Ibadan, the Oyo State capital.

    As controversy brew over his protracted ill-health and the state was enveloped in crisis, President Tinubu intervened twice to resolve the conflict.

    Akeredolu will be remembered as a colourful politician; he was principled, honest and straightforward.

    He was a believer in national unity in diversity.

  • …His years in Ondo

    …His years in Ondo

    Lucky Aiyedatiwa, in his inaugural speech yesterday as Ondo governor, acknowledged that the achievements of his boss, the late Oluwarotimi Akeredolu, would be difficult to surpass.

     Akeredolu became governor in 2017 against the expectation of many after he defeated candidate of the Peoples Democratic Party, Eyitayo Jegede (SAN).

     Among the several achievements of Akeredolu, he would be remembered for the bold move to establish the Amotekun Corps.

    The establishment of Amotekun was resisted by the Federal Government but Akeredolu pushed for it.

    The coming of the Corps has reduced insecurity in the state as well as resolved cases of herders/farmers conflict.

     Akeredolu also whittled down some powers and sphere of influence of some traditional rulers in the state following implementation of the Justica Ajama panel report.

    Many Obas were upgraded to First Class monarchs. Among the traditional rulers elevated from grade B Monarch to grade A were Owa-Ale of Iyometa, Ikare, Akoko Northeast Local Government; Ajana of Afa Okeagbe, Akoko North West; Alale of Akungba, Akoko South West; Okiti of Iju, Ogbolu of Ita-ogbolu, Oloba of Oba-Ile, Alara of Ilara mokin, Olujare of Ijare, Olowa of Igbara-Oke.

     Others were Oluoke of Okeigbo, Maporure of Agerige, Eletikan of Etikan, Ahaba of Ajagba, Odogbo of Omiland, Larogbo of Akotogbo, Orunja of Odigbo, Halu of Ode-Aye, Orungberuwa of Erinje, the Ojomo-Luda of Ijebu-Owo, Olupele of Ipele, Elemure of Emure-Ile, Olumoru of Imoru and Olute of Ute.

     Upon assumption of office, Akeredolu met a state with an IGR of N500m. He assembled a team and the IGR was increased to about N3billion.

     Akeredolu rejected his predecessor’s building of mega public schools. He paid the state counterpart funding for Universal Basic Education and renovated over 1,500 primary schools.

     On road infrastructure, Akeredolu constructed the first fly over at the busy Ore-Lagos highway. The interchange reduced traffic congestion and accidents in the axis.

    Read Also: Nigeria is in good hands, Tinubu assures citizens

    Across the state, Akeredolu was known to have constructed over 1000km of roads. The second fly over was being constructed at the Onyarubulem-Shagari/Irese along the Akure-Ibadan highway before his demise.

     In his bid to enhance development at the grassroots, Akeredolu created 33 Local Council Development Area (LCDA). He signed the bill creating the LCDA into law before his demise.

     To ensure adequate health care delivery system, Akeredolu canceled the free health care introduced by his predecessor and introduced the health insurance package tagged the Orange Health Insurance Scheme (ORANGHIS).

     Akeredolu’s relationship with Organised Labour was cordial. He paid the seven months salary arrears inherited by his administration and was not owing workers.

    Last month, he released N1billion for the payment of gratuity to teachers and local government workers who retired on 2011.

    Some pensioners who retired in 2012 were also paid.