Tag: BUHARI

  • Buhari seeks electoral offenders’ prosecution

    Buhari seeks electoral offenders’ prosecution

    •INEC boss promises to be guided by constitution, electoral law

    President Muhammadu Buhari yesterday advocated the prosecution of electoral offenders.

    The President, who spoke at the swearing-in of the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu and five national commissioners in the Presidential Villa, Abuja, said it was not enough for election tribunals to cancel or order fresh elections.

    Said he: “Another area of concern is the justice administration of the electoral tribunals. Our justice system should address these shortcomings. It is not just enough for an election to be cancelled and a new one ordered.

    “It will be better if those whose actions or inactions led to the cancellation of such elections are investigated and if culpable, prosecuted, whether they are individuals as candidates or party agents, institutions, such as parties, electoral body, or public officers as electoral officials or security agents.

    “Perpetrators of electoral violence and thuggery should not be spared. Unless our system stops covering up electoral malpractices, we can hardly get it right. No system endures with impunity.”

    Promising to respect the independence of the commission, Buhari said his administration would not interfere with its operations.

    His words: “In the conduct of elections, we promised to respect the independence of our electoral body, INEC. We promised non-interference in its activities and we promised to encourage it to conduct free and fair elections. I pledge to keep the promises.”

    The President urged INEC not to allow itself to be influenced or subjected to outside forces’ control.

    He said: “You must respect the law. We will hold you bound by the oath you have taken. The country has reposed trust and confidence in you. You cannot afford to fail.”

    Buhari decried state’s electoral bodies, which hide under the cover of the technicality of law to deny citizens’ rights.

    He said: “I’m aware of Federal Government’s constitutional constraints in its engagement with the state’s electoral bodies. But the government has a social responsibility to protect the democratic rights of all.

    “I am of the view that it is unacceptable to hide under the cover of the technicality of law to deny citizens’ rights.”

    President Buhari said the Federal Government considered a different strategy of engagement with state governments on how to make state electoral commissions freer than many are today.

    Stressing that the All Progressives Congress (APC) government promised Nigerians change, he said the change would be all- embracing.

    “It starts from change of attitude, change of work ethics, change in attitude to corruption and corrupt practices.”

    Buhari said the goalpost would not shift in the Kogi and Bayelsa governorship elections, as the 1999 Constitution and the Electoral Act would be followed.

    Senate President Bukola Saraki, addressing State House correspondents, said the new team would not let the country down, noting that they gave a good account of themselves during their screening and confirmation.

    The commissioners, who took oath of office, were Mrs. Amina Zakari, Mr. Solomon Adedeji Soyebi, Prof. Antonia Taiye Okoosi-Simbine, Dr. Muhammed Mustafa Lecky and Alhaji Baba Shettima Arfo.

    Those in attendance included Vice President Yemi Osinbajo, Senate President Saraki and the Speaker of the House of Representatives, Yakubu Dogara.

    Prof. Yakubu, has promised to be guided by the electoral act and the constitution in the discharge of his functions.

    Yakubu, who spoke on resumption yesterday after his inauguration by President Muhammadu Buhari, said: “I’m not sure this is difficult because the constitution is clear.

    “The roles and responsibilities of INEC are spelt out and the provisions of the electoral act are also clear.

    “Our responsibility is to ensure that in whatever we do, we are guided by the letter and spirit of the constitution. These, we are going to do with courage.

    “Whatever we need to do, we will ensure that this is done courageously and according to the law.”

    He promised to be just to all and never to fail the expectations of Nigerians in his new roles, saying he loved challenges.

    Yakubu added: “One of my bosses used to say that the public office has a tenure, a minimum of one day and a maximum of the tenure.

    “In the case of INEC, it is a minimum of one day and a maximum of five years. In between is the privilege to serve. We will never fail this nation.

    “We will be courageous in what we do, and we will be courageous and just to all we are supposed to serve.”  He pledged to build on the successes recorded by previous administrations, especially in the conduct of the last general election.

    “We have come a long way. We have had commendations locally and internationally, in the conduct of the 2015 general election.

    “As I said at the Senate screening, our responsibility as a new commission is to consolidate and add value.

    “Nations don’t make progress by starting afresh; nations make progress because there is a building block, which we now build more.”

    The INEC boss promised to go through the books handed over to him, which included local and international observers’ reports for implementation.

    He praised the outgoing Acting INEC Chairman Hajia Amina Zakari for holding the fort.

    Yakubu urged the cooperation and understanding of the commission’s officials as given to previous leaderships.

    Zakari said: “With the incoming commission’s officials, we are ready to conduct Kogi and Bayelsa elections.

    “We have not rested on our oars in the last four months. We have tried to maintain the services of INEC to the best of our ability.

    “We hope by the time the commission settles down, it will not be difficult to continue where we have stopped.”

  • Buhari congratulates world-conquering Eaglets

    Buhari congratulates world-conquering Eaglets

    President Muhammadu Buhari on Monday congratulated the Golden Eaglets for winning this year FIFA U-17 World Cup in Chile.

    The Eaglets on Monday morning defeated the Malian U-17 team 2-0 to win the cadet World Cup for the fifth time.

    In a statement issued by his Special Adviser on Media and Publicity, Femi Adesina, the President applauded the exemplary zeal, determination, commitment, hard work, patriotism and soccer artistry displayed by the Eaglets throughout the tournament.

    He noted with delight that the Golden Eaglets did not only won the coveted World Cup, but they are also bringing home the highly-valued individual awards such as the Golden Boot won by Victor Osimhen for being the tournament’s highest goal scorer and the Golden Ball, won by the team captain, Kelechi Nwakali for being the best player.

    President Buhari believed that by the triumph in Chile, the Golden Eaglets had shown the world that the indomitable Nigerian spirit is alive and waxing stronger.

    According to him, the team’s latest victory on the global stage is an affirmation of the significant progress Nigeria is now making towards positively redefining and rediscovering its potential for greatness in the comity of nations.

    He joined other proud Nigerians in awaiting the Golden Eaglets’ heroic return to the country.

     

  • Buhari seeks prosecution of election offenders

    Buhari seeks prosecution of election offenders

    President Muhammadu Buhari on Monday called for prosecution of electoral offenders in the country.

    He made the call while swearing-in the new Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu and five National Commissioners of INEC in the Council Chambers of the Presidential Villa, Abuja.

    The President said it is not enough for election tribunals to just cancel or order fresh elections.

    He said: “Another area of concern is the justice administration of the election tribunals. It is long overdue that our justice system addresses these shortcomings. It is not just enough for an election to be cancelled and a new one ordered.

    “It would be much better if all whose actions or inactions led to the cancellation of such election to be investigated and if culpable prosecuted whether they are individuals as candidates or party agents, Institutions such as political party, electoral body, or public officers as electoral staff or security agents.

    “Similarly, perpetrators of electoral violence and thuggery should not be spared. Unless our system stops covering up all forms of electoral malpractices we can hardly get it right. No system endures with impunity.”

    Promising to respect the independence of the Commission, Buhari said his government will not interfere with its operations.

    The Commissioners that took oath of office on Monday included Mrs. Amina Zakari, Mr. Solomon Adedeji Soyebi, Prof. Antonia Taiye Okoosi-Simbine, Dr. Muhammed Mustafa Lecky and Alhaji Baba Shettima Arfo.

    The event was attended by Vice President Yemi Osinbajo, Senate President, Bukola Saraki and the Speaker of the House of Representatives, Yakubu Dogara.

  • The coming of Buhari’s ‘change agents’

    The coming of Buhari’s ‘change agents’

    Senior Special Assistant to the President on Media and Publicity Garba Shehu believes a solid foundation has been laid for members of the Federal Executive Council (FEC) to build on when they take the oath on Wednesday. He describes the scheduled inauguration of the 36 “wise men” as the climax of a seven-month spade work done by the President.

    Before a skyscraper rises out of the ground and becomes a towering edifice, the foundation must go deep into the ground, sometimes as low as 150ft.  Month after month, the labourers continue to dig and build, their diligent work taking place completely out of sight.

    In the same period it takes to complete the foundation of a skyscraper, several duplexes may spring up nearby.  Concerned onlookers may wonder about all the time invested in an unseen structure and ask: “But why can’t we see the building you say you are building?”

    During the past few months since he took the mantle of change, President Muhammadu Buhari has been restructuring the foundations of government, which have disintegrated and putrefied over decades of mismanagement. He has been busy cleaning out debris and plugging loopholes, before laying new and fresh blocks.

    When he spoke to them at the three-day retreat welcoming them to the cabinet, the President told the ministers-designate that “we have already taken deliberate measures to plug leakages of government revenue and resources.”

    The Treasury Single Account (TSA) is one example. Under this new system, all government revenue, income and payments are being handled via one single account which will be maintained by the Central Bank of Nigeria (CBN).  This way, the government will have direct supervision of inflow and outflow.  Cases such as that of the Nigerian Maritime and Security Agency (NIMASA) (currently under investigation by the Economic and Financial Crimes Commission EFFC) where billions of dollars were channelled for questionable purposes will be a thing of the past. Nigerians can expect more transparency and less misappropriation of funds by government agencies.  The government will begin to realise its revenue in full measure and agencies will be able to spend only within their budgets.

    Still on the issue of government revenue, the prospect of government generating more money through the Nigerian Customs Service (NSC) is set to increase with the change of management that was effected recently by the Buhari administration.  With accountability and integrity at the top, Nigerians can expect that revenue from that agency will double or triple.

    The Ministry of Finance just got the customs to repair broken down scanners at the ports to ensure maximum generation of revenue. Officers had left the scanners unrepaired, and in some known cases, deliberately sabotaged them so that assessment is done manually to satisfy greed on their part.

    The Federal Inland Revenue Service (FIRS) has also begun to implement a programme of increased awareness among Nigerians regarding the payment of taxes.  This is being followed by a strict programme of persuasion and enforcement.  Within a short while, the Nigerian government will begin to realise a marked increase in revenue from Value Added Tax (VAT).

    All these foundation blocks have been laid to ensure that the government has enough revenue with which to make life better for every Nigerian, especially as the price of oil continues to look precarious.

    These measures, taken together represent a major push by the President to increase Internally-Generated Revenue (IGR), reduce over-dependence on crude oil earnings in a way that will bring stability and predictability in the financing of government programmes.

    The situation of the economy is not an ordinary one. It is a crisis – a crisis itself inherited by the Buhari administration – and one that cannot be ignored. Two weeks ago, the International Monetary Fund (IMF) predicted that the Gross Domestic Product (GDP) growth in sub-Saharan Africa would fall to 3.75 per cent this year, the lowest in the last six years.

    Nigeria, along with Angola, the leading oil economies on the continent, have been hit hard by oil prices which have gone down by more than 50 per cent in the last 12 months.

    It is on account of this that the President warned the new ministers of what to expect. He said: “The work of restoration and renewal is urgent and immense. The expectations of Nigerians are high. Our determination to succeed and change the fortunes of our country must be equal to the challenge.

    “I have invited you to join me in this urgent mission for our country. I am convinced that in accepting this invitation, you are also equally determined to take part in this patriotic undertaking.”

    So, finally, the underground work is coming to an end.  With the inauguration of ministers-designate taking place on Wednesday, it is now time for Nigerians to watch the edifice of change begin to rise out of a new and strong foundation.  Our country’s season of austerity is coming to an end.  Life will get better for every Nigerian, in every geo-political zone of our country.

    As President Buhari said in the opening address during the retreat that took place last week, “You are coming on board the ship of governance at an interesting time. So much has been said about the state of our economy. It is expected that we make the running of government at all levels as lean as possible, avoid waste and conserve resources. As ministers, you must be the vehicle that will administer the change.”

    President Buhari, who shrugged off “experts” and their “scientific” predictions to receive a historic mandate – the first time that an opposition candidate defeated an incumbent administration since independence has been speaking of the huge popular expectations of Nigerians who gave this mandate. They are waiting, impatient and agitated.

    The new ministers will do well to heed the President’s call for prudence, austerity through the avoidance of the type of extravagance that had weighed down the finances of government in the past. Under the past administration, some ministers had as many as 15 special assistants and so many policemen in tow.

    Let the new ministers learn from the President who gave a recent directive that he didn’t want to have more than eight vehicles in his convoy.

    Nigerians should get set to see and experience more of the change for which they voted overwhelmingly for the Buhari administration if the cabinet avoids micro-managing specifics and kow-towing to god-father interests to join the President in putting policies in place to make the country a favored destination for investors – both global and local.

    There is little doubt that there is light at the end of the tunnel although it will take much hard work to make it a new dawn.

  • Buhari’s tools for the needed change

    The aura of electoral victory that heralded the emergence of President Muhamadu Buhari cannot be waved away with a stroke of the hand. It was a victory birthed by the groaning of a people desirous of a change. The change movement meant different things to different people. Yet in all the differences, they agreed on one thing – that Buhari was the man for the job.

    The elections and the inauguration of the new government were only the first steps in the quest for a changed nation. The president, having received the mandate and trust of Nigerians, must therefore display  and act with the acumen and wisdom needed to lift the country out of its current and existing doldrums and guide it towards a promising and rewarding future. This is a task that requires prioritisation and effective delivery.

    Consequently, President Buhari needs to be tactical in his approach, prioritise his tasks and focus his strengths on sectors capable of creating domino effects on the other sectors with minimum inputs. There are three major sectors capable creating the needed effects in the national life: Education, Agriculture and Power.

    A country’s educational sector is the bedrock of its national life. It is the essential foundation on which every other sector can be built and established. Like a strong defensive midfielder is a key factor for the success of any football team, a strong educational sector is the only factor for a change in our national life. Education drives invention, patriotism, loyalty, competence and excellence.

    Most people rush to associate Nigeria’s problems with corruption, yet incompetence plays a greater role in the nation’s woes. Most graduates are semi illiterate and the country has the highest rate of out of school children in the world. Other populous countries around the world, such as China, India, Pakistan and even the US, focus on technical and vocational education. Yet, technical and vocational education is dead in Nigeria.

    Agriculture and power go hand-in-hand because they are the root of the collapse of the country’s economy. Nigeria’s discovery of petroleum led to a reckless neglect of the agricultural sector. Before drilling and exploration, we had planting and harvesting. The nation was driven on the inflows from the sale of agricultural produce. Nigeria currently produces the top ten most sought-after crops in the world on a subsistence level. We have failed to harness our agricultural prowess and sacrificed its abundance on the altar of sweet crude. We have replaced the pyramids of groundnuts with tank farms, silos and barns with petrol stations and tanker garages. Now, the country is on a food importation binge because our production is low and it is still crude and undeveloped.

    And Power! Electricity is a key driver for any economy. After the deregulation of the power sector and the billions of petro-dollars sank into it, there appears to be no end in sight for the country. Even though the generating companies seem to have been working to capacity, the discos seem not to have been ensuring that all the watts of power generated are distributed for use due to their own economic advantage.

    Good education, agriculture and power sectors will fix this country, they will combat terrorism, corruption, incompetence, greed, lawlessness, lack of patriotism and other social vices. Revamping these sectors will ensure an equal distribution of development across every regions.

    If PMB is going to succeed, his administration must focus on these sectors and make them his priorities. He will need to select the right persons to head these sectors and support them with the political will to drive the change.

    Based on the resume, precedence and performance at the ministerial screening, it would not be wrong to conclude that the president’s only requirement is to ensure that these sectors are assigned to nominees with deep experience and rich technicality and not as political compensations. Only a thoroughbred academic and administrator should be appointed minister for education, successful farmers and policy makers appointed as minister for agriculture and transparent and technical individuals as minister for power and steel.

    Per analysis of the resume and precedence of the ministerial nominees, Professor Isaac Adewole seems to be the most qualified for the job of revamping the education sector. His performance at the Senate screening was a glimpse into his cerebral power. In the same vein, Malam Audu Ogbeh is the perfect fit for the agriculture sector. He is a successful farmer with a deep understanding of the challenges faced by everyday farmers. Finally, Zainab Ahmed’s precedence with NEITI qualifies her for the power sector. A brief look into her activities in NEITI revealed that she is a respected name in the global EITI for her transparency, zero tolerance for corruption and technical capacity.

    President Buhari has the brightest chance to set Nigeria on the path to greatness once and for all. One can only pray that he gets his priorities right and appoint the right hands for the required job.

    • Dr Adedayo. A .Yusuff,

    Lecturer, Tshwane University of Technology,

    Pretoria, South Africa.

  • Stop insulting Buhari, Fayose warned

    Stop insulting Buhari, Fayose warned

    Former Special Adviser on Housing in Abia State, Nwabueze Onwuneme, has called on the governor of Ekiti State, Ayodele Fayose, to maintain some respect not just for his exalted office as a state chief executive but also for the President of the Federal Republic of Nigeria. He specifically warned the governor to stop insulting President Muhammadu Buhari and the Judiciary.

    Onwuneme, a youth activist, wondered why Fayose would continue to make what he described as “seditious and inciting statements against not only President Muhammadu Buhari but also the Nigerian judiciary.”

    According to him, “Fayose should have realised that the fact that no one joins issues with him is not because there is nothing to say about him. His antics is not coming as a surprise, knowing his antecedents for showmanship, which propels him to always crave to be in the news even for the wrong reasons. This same Mr. Fayose, during his thanksgiving service to celebrate his electoral victory (hope the panel set up by the Nigeria Army to investigate the Ekiti election phone conversation will vindicate his victory at the polls) was seen rolling on the floor, thanking God and saying he would govern with the fear of God only to desecrate the temple of justice and reportedly sending on exile members of the Ekiti State House of Assembly. Often times he has openly called on the good people of Ekiti State, most especially the youths, to rise up to defend his mandate while his own children will be posting pictures of their posh cars on instagram.

    “Fayose should know that Nigerians are now really bored and no longer look forward to his personal daily attacks on Mr. President who he wished dead, but who God, in His mercies, did not just give life to but went ahead to make a two time President.

    “He should please get serious with his work as Ekiti State governor, acknowledging that governance is not a tea party by delivering on his electoral promises to the people of Ekiti State.”

  • Financing development under Buhari: the role of Pan African DFIs

    Financing development under Buhari: the role of Pan African DFIs

    The Central Bank of Nigeria (CBN) has prognosticated a possible economic recession in 2016. This possible worst outcome of the present slump is something I am sure President MuhammaduBuhari would do everything to prevent. No president wants to be known in history as a ‘Recession President.’ However, this undesirable economic situation can sometimes become a reality, even in spite of the best efforts of a well-meaning leadership.

    Exploring the worst case scenario, the following are the factors that, if they conspire together, a recession might become a reality. Of course, this discussion is meant to inspire concerted efforts, including, perhaps prayers, so that we avoid the likely ugly prospect.

    The most crucial factor is oil price. If the price of oil falls below $40 a barrel for a stretch of time in the coming months, we would have a very serious economic crisis. Some might say why should this be the case, if the economy is as diversified as the rebased Gross Domestic Product (GDP) showed in 2013; and if oil constitutes just about 15% of the GDP? Therein lies the unfinished work of the diversification of the Nigerian economy. The diversification we have achieved so far is from the standpoint of a wider base of production, with some new sectors admitted into the GDP calculus for the first time in 2013. From the standpoint of government revenue, however, oil still accounts for 70 per cent of total receipts and over 90 per cent of external earnings.

    As a result, the price of oil still wields an outsized influence on overall economic fortunes of the country. At this stage of Nigeria’s economic development, low oil price will definitely depress asset values, non-oil sectors’ performance and overall production. A sharp decline in oil price will generally sap business confidence in Nigeria. The subsisting dependency, under our worst case scenario, would also erode liquidity and consumption. In fact, these are not just conjectures; they have been at play in recent months of lower oil prices.

    The second determining factor is located in the fact that the current weak price outlook of oil is in a loop involving weaker growth in China and weaknesses in economic data from the matured markets. Given that before the current slowdown, the global economy was only at a slow pace of recovery from the last financial crisis, a sharp upward inflection in the global economy is very unlikely in the next two years. Thus, the protraction of a slowdown would have adverse effects in developing economies, including Nigeria. It will take a miracle for this not to happen; but miracles do happen.

    The third factor is that President Buhari is fighting an insurgency. The insurgency may have all along been underrated because of its unconventional tactics and the need to project national security. Therefore, the value in the resolve of Mr. President to end this ugly, growth-sapping insurgency as quickly as possible is well-considered. So, defence will continue to receive a sizeable chunk of the budget until Boko Haram is thoroughly degraded. Until we achieve this success, some growth-spurring infrastructure would be alternatives forgone with high defence budgets. A facet to this argument is ongoing in the United States as well as other big defence spenders of the world. For Nigeria, defence spending will cease to be zero-sum for growth only as victory is attained against Boko Haram and post-insurgency reconstruction kicks in, or if the budget is spent on military hardware manufactured in the country.

    The sum of these is that, with ill-luck, Nigeria can indeed slip into a recession, even if briefly. While leadership may not be able to prevent it, leadership can definitely inspire an economic turnaround that will lift growth above the pre-recession level. Former U.S. President John F. Kennedy responded to a brief period of recession and high unemployment rate by expanding social security, unemployment benefits and cut taxes to bring the economy back on the growth track. Because Nigeria faces different economic dynamics, our strategies would be different. In the instance of tax cuts, our strategies need to be diametrically the opposite of the early 1960s U.S. reforms.

    So where should we start and what is the latitude we have in reversing the current negative trend of economic fortunes?

    Where we have to start is where President Buhari has started and maintained focus. We have to raise the level of efficiency in the system. We have to plug revenue leakages. And, of course, we have to rein in corruption. President Buhari’s holy indignation against corruption cannot but be applauded, and it has been widely acknowledged. These are critical measures that will help economic performance, especially if we assimilate the culture of high efficiency and integrity. But these measures require complementary strategies.

    One of the strategic accompaniments is provision of depth for the nascent sectors of Nigeria’s economic diversification. For Nigerian Export – Import Bank (NEXIM Bank), these sectors are Manufacturing, Agro-processing, Solid minerals and Services. If we disaggregate what NEXIM Bank has in the past five years promoted as the MASS Agenda, we see the strengthening of both manufacturing and agro-processing. The services sector, has literally exploded, while the solid minerals sector is the weakest of these four sectors that can help create jobs and non-oil export revenue.

    The multi-billion dollar question is where are we to source the financing for the various programmes? But equally important is how to channel the financing. I believe development finance institutions (DFIs) have the aces in providing workable answers to both the “where” and “how” questions.

    Over the next 15 years, global resources would be mobilised in funding the Sustainable Development Goals (SDGs). The SDGs will provide the focal points of global financial interventions. A total $500 billion of innovative financing will be needed every year to finance the SDGs between now and 2030. This effectively means we now have a new paradigm for development cooperation.

    Under SDGs framework, we will see more emphasis on governments’ collaboration with global and regional DFIs on one hand. On the other hand, DFIs are expected to ramp up cooperation with the private sector. This would be the pattern for mobilising resources to finance projects whose value would increasingly be seen in terms of poverty eradication, promoting inequality, mitigating environmental risks and supporting inclusive societies. This places DFIs at the forefront of finance in the years to come.

    Nigeria is in a unique position to tap into the emerging global finance that would increasingly promote sustainable development. Nigerians now lead the two frontline Pan African Development Finance Institutions. Erstwhile Nigerian Minister of Agriculture and Rural Development, Dr. AkinwumiAdesina assumed the leadership of African Development Bank (AfDB) on September 1. Later that month, another Nigerian, Dr. Benedict Oramah, became President of Africa Export – Import Bank (Afreximbank).

    These Nigerians were appointed to work for the entire continent. But their nationality provides Nigeria an opportunity for closer affinity with these institutions beyond being the biggest financial contributor to them. There are important values these institutions offer. The AfDB and Afreximbank – compared to their global or foreign cousins – are better placed to understand the local context to our development and support country-owned initiatives. This point is validated by Adesina’s pledge to focus the interventions of the AfDB on supporting power reform, agriculture, SMEs and youth empowerment in Africa. This is missile-accurate. Adesina, like his predecessor, Donald Kaberuka, is poised to making the AfDB catalytic for African growth and for solving Africa’s development challenges, based on deep knowledge of the local context. His work in reforming Nigeria’s agriculture tells how much help he can lend from his new vantage position.

    Another area of benefit is expansion of Nigeria’s network within the global community of Development Finance Institutions. I have seen first-hand the importance of this point since my ascension to the presidency of the Global Network of Exim Banks and Development Finance Institutions (G-NEXID) earlier this year. Nigeria needs to network better with the global development community.

    The AfDB and Afreximbank are important institutions in expanding capacity for the country’s national DFIs. This would naturally cover sharing project knowledge, joint project development and transfer of funding capacities by the regional DFIs to the national DFIs through establishment of lines of credit. This will help in channelling interventions more sharply to the areas of need and impact, as national DFIs even understand the local needs better.

    Afreximbank has a suite of products and services to help Nigeria facilitate international trade. Nigerian banks and corporates can benefit from the trade support facilities of the Bank. NEXIM Bank has been in collaboration with Afreximbank to unlock more resources in the critical area of growing Nigeria’s non-oil exports. A number of Nigerian export manufacturers have benefitted from this cooperation.

    Both the AfDB and Afreximbank are banks of not only the present but also of the future. Afreximbank grew its total assets by 25% in 2014 to $5.45 billion. A much-bigger bank, the AfDB has $100 billion capitalisation. Both institutions are able to leverage their balance sheets to evolve into much bigger institutions. The AfDB just raised nearly $1 billion in additional resources through its new Africa50 Fund, which has been set up to mobilise long-term savings within and outside Africa to finance infrastructure projects across the continent.

    In concluding, one of the greatest economic challenges Nigeria faces is how to economically empower the youth. The answer to this is support for entrepreneurship. Nigerian youths have been actively engaged in business creation. They control the entertainment industry and are expressing themselves in the technology sector. If we managed to unlock funding for these and other sectors, the doldrums that a recession symbolises would become a possibility farfetched for Nigeria. The good news is that the DFIs are well-focused and increasingly resourced to support the commercially viable enterprises of our vibrant youths to complement national efforts.

     

    • Roberts Orya is Managing Director / Chief Executive Officer, Nigerian Export – Import Bank.
  • Shekarau: Buhari must fight corruption with fairness

    Shekarau: Buhari must fight corruption with fairness

    Former Governor of Kano State and immediate past Minister of Education, Malam Ibrahim Shekarau yesterday in Kano threw his weight behind the anti-corruption war of President Muhammadu Buhari, insisting that it must be waged with honesty, transparency and fairness.

    Shekarau who spoke with reporters in his residence while marking his 60th birthday, also opened up on his political rivalry with immediate-past governor of the state, Senator Rabi’u Musa Kwankwaso.

    Shekarau said his belief in anti-corruption and due process saved him from being probed and persecuted by Senator Kwankwaso who took over from him in 2011.

    He added that for political reasons, Kwankwaso deliberately refused to pay him entitlements as a pensioner and as a former governor. “Kwankwaso did not pay me a dime as stipulated by the pension fund law which was enacted during my tenure,” he said.

    “For the purposes of showing how dear the issue of anti-corruption is to us, we put in place all measures in my government, there wasn’t any major project that were executed that did not go through the due process.

    “I want to boldly say that perhaps that is what made it difficult for the last government; in spite of the fact that when he first came in few months, he was shouting all over the place that somebody was corrupt, that he stole a lot of money, and we challenged him to come out with the facts – the records are there.

    “From one single pencil we purchased to the last biggest contract we awarded, we made all the vouchers available at the disposal of my friend, Rabi’u Musa Kwankwaso for four years and we said let him bring out any single fraud as far as our eight-year government is concerned; and by the end of the day, nothing came out of it.

    “And we all aware that there were deliberate effort to scrutinise, to follow-up … So, as far as anti-corruption is concerned, I am totally in support of the crusade, but it has to be transparently done. It has to be fairly done; it has to be justifiably done. There has to be the due process.

    “It is not just enough if I see you have billions of naira, then I conclude you are a thief! Until I find out how did you come about your billions, what happened, how did you acquire this? If I see you with a new car and I jump into the conclusion that you fraudulently acquired it in your place of work? If I see you in a new house, I will now say it is fraudulently acquired?

    “Then, look at it from the religious point of view, so, I pray that it is going to be fair and just and there will be no scape-goat. There will be no exception regardless of your political leaning, there will be no exception regardless of your ethnic leaning, and since it is not yet time for us to see whether all these characteristics are complied with, I don’t think it is proper to pass any judgment for now.

    “I only pray the government will succeed, and even those of us who are not in the government, we are praying because that is the main thing a credible leadership at all levels that must be transparent and accountable needs.”

    Shekarau, who is the leader of the Peoples Democratic Party (PDP) in  Kano, said it is too early to assess President Buhari’s government in terms of fighting corruption, but insisted that certain adjustments need be made if the president really want to succeed.

    “Yes, I am in the opposition, and the opposition is naturally supposed to pick holes in the act of governance and the activities of those in government, make some assessment. So far, I don’t intend to rush into passing judgment. We are watching and we are putting their activities on the scale. Principally, President Muhammadu Buhari’s government has been emphasising on anti-corruption.

    “I am totally in support of anti-corruption. Those who know me and those who work with me know that it is a no-go-area; and we don’t give any room for that. And the key thing is running a government through exemplary conduct and I don’t intend to praise myself, I don’t intend to pass judgment on what I have done.”

    Shekarau advised President Buhari on how best to tackle the perennial security challenges. “I have said this a number of times. During my presidential campaign, I mentioned it that there are four fundamental issues that unless you addressed them, you have not started, no matter what you do.

    “Number one, you must look into the welfare of the security agents. If you don’t address their welfare, you are wasting your time. We must address the issue of training. I was not too long ago discussing with Walin of Kano who had some few years back worked with my own father as a Native Police, before their conversion into Nigeria Police in the 70s, he said during their days, from the recruit to the highest police officer, nobody will spend six months without going for one kind of refresher course or the other. You will either be asked to go to Jos or Kaduna for one week.

    “Today, some of them for 10 years, they don’t cross any borders of any state for training. Number three, equipment. You have to equip the security agencies properly. Number four, unless you address the pension issue of security agencies. I don’t accept a situation whereby a retired soldier, a retired police, retired armed forces, will have to go on demonstration before their entitlements are paid, after putting their life on the line for 35 years!

    “So, those in the service are watching, when you see their senior officers retiring into poverty, you will want to take care of yourself. Go to any road block today, when they stop you, the next thing you will hear is oga we de o. It is literally soliciting for something and they don’t care if the Inspector-General of Police could be in the car.

    “It is not their problem, it is the problem of survival. They are fathers, they have children, and they must eat. So, I pray that these four basic issues will be taken into consideration by the government. Unless you address these four issues or else, you have not started as far as security is concerned.”

    On corruption, the former presidential candidate of the All Nigerian People Party (ANPP) said: “When you are talking of corruption, my idea is, yes, address the big one, it is not about the billions the governors, the ministers, president, the local government chairmen have allegedly stolen. Yes, you could address that, it could take you 10 years to fully recover them, so, when you are giving the people the impression that you are bringing in billions to run the government, I think it is over-simplification of issues.

    “I agree you will bring this money, but when it comes, only God knows, but start the process, this is excellent, perfect. So, how do you address these lower-level corruption, and unless you address these ones because they are the ones which give protection to the upper ones.

  • Buhari hails NNPC, Agip, Oando

    Buhari hails NNPC, Agip, Oando

    President Muhammadu Buhari has praised the Nigeria Agip Oil Company (NAOC)  and its partners, Nigerian National Petroleum Corporation (NNPC) and Oando, for the Green River Project (GRP) which has covered over 120 rural communities and empowered over 35,000 farmers. GRP is the firm’s agric intervention project.

    In an audio-visual message to an agricultural exhibition and Farmers’ Day, organised by NAOC, Buhari explained that the company’s GRP had become more important “now that oil has ceased to be the nation’s cash cow. We have no option, but to turn to agriculture. Diversification of our economy is no longer something to pay lip service to,” he said.

    He unfolded the government’s agricultural development programme aimed at attaining self-sufficiency in food production and yearly export of 10 million tonnes of grains and processed food by 2019  to farmers from Bayelsa, Delta, Imo and Rivers states during the celebration.

    The return of marketing corporations is to serve as the main platform of the government’s programme which is also expected to lead to the development of 740,000 market-oriented young agricultural producers from among unemployed youths.

    In the speech delivered on his behalf by the Permanent Secretary, Federal Ministry of Agriculture, Mr Sonny Echono, the President said government’s strategies include: establishment of Youth Employment in Agriculture Programme (YEAP), which will benefit 20,000 school leavers and rural youth leaders in each state of the federation and develop 18,500 university graduates into young agribusiness entrepreneur called “nagropreneurs” and Agricultural Equipment Hiring Enterprises (AEHEs) – a private sector led mechanisation programme which will inject a total of 6,000 units of tractors and implements, 15,000 power tillers, 20,000 planting and postharvest equipment to mechanise an estimated four million hectares of land nationwide.

    The Italian Ambassador to Nigeria, Mr. Fulvio Rustico  described the GRP of NAOC as a means to re-enforce a healthy relationship and cooperation between his country and Nigeria.

    The Chairman of NAOC, Mr. Ciro Antonio Pagano with his Vice, Massimo Insulla in their respective remarks spoke on the impact of GRPin the four stakeholder  states.

    They also spoke about the potential of the Project becoming a pivot for the development of the agric sector in Nigeria as it will serve as a major platform for knowledge sharing among farmers, academia, public extension services and agro allied industry.

  • Buhari backs expansion of Nigeria’s maritime boundary

    Buhari backs expansion of Nigeria’s maritime boundary

    President Muhammadu Buhari on Thursday approved the continuation of efforts by the National Boundary Commission to achieve a significant expansion of Nigeria’s maritime boundaries.

    The President gave the approval after he was briefed by the Director-General of the Commission, Dr. M.B. Ahmad, on the preparations for a submission by Nigeria to the United Nations Commission on the Limits of the Continental Shelf (CLCS).

    Buhari, according to a statement issued by his Senior Special Assistant on Media and Publicity, Garba Shehu, also approved the constitution of a Presidential Committee to oversee the conclusion of work on the submission, which could lead to the expansion of Nigeria’s maritime boundaries from 200 nautical miles to 350 nautical miles, if approved by the CLCS.

    He also directed the Ministry of Finance to provide the funds required to conduct the geographical surveys which are essential for the submission.

    According to Article 76 of the United Nations Convention on the Law of the Sea, the continental shelf of a coastal state comprises the sea-bed and the sub-soil of the submarine areas that extend beyond its territorial sea throughout the natural prolongation of its land territory to the outer edge of the continental margin, or to a distance of 200 nautical miles from the baseline from which the breath of the territorial sea is measured.

    The statement reads: “A sovereign coastal state like Nigeria can extend its maritime territory beyond 200 nautical miles, up to a maximum of 350 nautical miles, if it can prove scientifically that the natural prolongation of its land territory under the sea extends beyond 200 nautical miles.

    “The objective of the submission being prepared by the National Boundary Commission is to claim for the country a potentially rich maritime territory of up to 104,000 square miles without any war or litigation.

    “There is a strong likelihood of the presence of large deposits of hydrocarbons, gas and other mineral deposits in the extended maritime territory.”