Tag: Nigeria News

  • Nigeria losses $6t in real estate investment to dearth of data

    Nigeria may have been losing an average of $6 trillion inflow yearly as a result of dearth of data and professionals not equipped with current and globally competitive real estate skills for negotiation and relevant data gathering.

    This was the position of the Principal, World Citizen Consulting, Chicago, Bill Endsley, on the sideline of the FIABCI International Real Estate Consultant (FIREC) programme held in Lagos.

    He spoke to a cross section of experts including Estate Surveyors & Valuers, property financiers, developers and facility managers.

    He said huge real estate investment running into billions of dollars daily may have eluded Nigeria for so long as a result of insufficient information on the market, such as interest rate, negotiation skill, policy inconsistencies of government and the ever changing monetary and fiscal policies. He said the average American investor desires to have the necessary information before putting in his money on any investment though they desire high return on investment they are deterred according to him by insufficient information that can attract them to the country.

    He said: “What investors want is what is called ‘Clean Window,’ people will prefer to invest where they can see clearly and can prize the risk before investing. There must be market analysis of what the market want and how long it will take to reap on investment, most times this information is not available in Nigeria.”

    Director of Operations and Finance, Micheal Consults, Thomas Cardman, in his contribution said investors look out for analysis and the quality of the story behind the numbers in making decisions in real estate investment. According to him they will also look at the return on investment characteristics and cost approach to decide for a particular property.

    Earlier, FIABCI president, Nigerian chapter, Adeniji Adele said the workshop is in line with their pursuit towards ensuring that Real Estate Professionals are fully equipped to up their ante in the nation’s built Industry, and compete with their contemporaries globally.

     

  • ‘Southeast not ready for 2023’

    Former Abia State All Progressive Congress (APC) governorship aspirant, Ndukwe Iko, in this interview with Musa Odoshimokhe explains why the Southwest is well prepared for the presidency in 2023 than the Southeast and how the party will retain Abia North Senatorial District. Excerpts

    WHEN the election of Orji Uzor Kalu was annulled at the tribunal, what was your reaction?

    When the election was announced, I knew that the Peoples Democratic Party (PDP) candidate Mao Ohuabunwa will go to court. I was in the collation room during the election, I spoke with him and I knew he was heading to court. After the March election, I have not spoken with Orji Kalu and have not been to Abuja. But I knew that a court process is on and anything can happen. However, that does not remove the fact that the APC in Abia north is strong. We knew there will be a court ruling; we knew we have a legitimate victory that will stand the test of all the challenges. At the end of it, the APC will triumph because we were in the field and we can tell you what happened in the field. If at the appeal court and we still have to go for a re-run, Kalu will trash Ohuabunwa even with wider margin.

    What gives you that confidence?

    What gives me confidence is that before the election, we were having trouble in the camp of Orji Uzor Kalu. We had trouble in some of the local governments that formed Abia North. Abia North has five local governments. They are Umunneochi, Isikwuato, Bende, Ohafia and Arochukwu. During election Orji will have Bende, Ohafia and Arochukwu LGAs. But Isikwuato and Umuneochi often be a battle ground. But this time around it was different. In Isikwuato, for instance we have the Minister of State, Mine and Steel Development Uchechukwu Ogar well prepared to deliver for the APC. I believe a million times over the people will support the APC. At Umuneochi, the APC will lead comfortably because we have politically influential people there.  Orji with his strength and popularity will get hold of the place. Coming down to Bende, the place of Kalu, he always rules in the area like a colossus. In Ohafia, where I come from and many others, we will deliver to the APC and that is a fact. At Arochukwu, Kalu had never lost any election in the area, so we don’t have any fear, should there be a re-run. That is the basis of my confidence and if there is a re-run ten times over Orji will still win the election. If at the Appeal the court upturns the judgment of the tribunal fine. But if is otherwise, I want to say Kalu will win Abia North any time any day. He can even stand as an independent candidate in any election and win. He is a cult hero in Abia North and there is nobody to contest it with him.

    Some people have raised concern that Abia government is not living up to expectation. Are you worried?

    I have met governor Ikpeazu several times and in our meetings I have been very opened to him. I have always told him that this is an opportunity to stamp his legs on the sands of time. The Ngwa nation or clan has been clamouring for an opportunity to produce the governor of Abia State. He is the lucky one that has occupied the position. If he allows the eight years to go and there is nothing to write about him, then history will adjudge him bad. Ikpeazu should put his house together and make sure he delivers good governance in Abia and that is our prayer. Let him use his tongue to count his teeth, whether he is doing well or not. Like they say, the taste of the food is in the eating. The people of Abia State that I meet are not happy with the performance of government. So, I will just advise him to use the chance he has to justify the clamour of the Ngwa people.

    The government owed its workers close to one year salaries now…

    I am an employer of labour, I know how painful it is if you don’t pay your workers. The biggest problem of some of the people in government is mediocrity. We have people who are not properly nurtured in the art of leadership and they are in very high position. I think it is evil for someone to work for you for 30 days and you refuse to pay that person. How do you expect that person to feed his family? I don’t see a governor that will sleep well, if he refuses to pay salary.

    Do you think the APC can make things better, if they have the chance in 2023?

    We are not happy that the governor is not paying salaries; there are many issues in Abia that one could campaign about including prompt payment of salaries. If the government is not paying salaries, it is an act of evil punishable by God and it is not proper. So, every pressure on PDP in Abia is an opportunity for us in the APC to produce the next governor.

    Is the Southeast prepared for the Presidency?

    The Presidency is still a long way to go. But the race to occupy the position of the President started immediately after the last election. The emergence of President Muhammadu Buhari and former Vice President Atiku Abubakar will define the way in 2023. But being that as it may, I believe at the moment, the Southeast is not politically strong enough to produce the President in 2023. And that is my honest disposition. Some people may criticize this, saying what is this Ibo man saying? But as a politician and someone that has come of age, I know that we need a strong political party structure and national outreach. You need other factors like finance and others to get to that exalted office. You need enough handshakes across the regions. The Yoruba are better positioned than the Igbo. If you look at the government of today, I will say the Yoruba are controlling more than 40 per cent in the structure of governance, where you have a Vice President that is from the Southwest. You have a speaker of the House of Representatives that is from the Southwest. Out of the four high offices, they have two from the same zone. Even the north does not have it that way because the President is from the Northwest and the Senate President is from Northeast. In the north, the portfolio is divided among the zones in the north. In the south, a lot of power is concentrated in the Southwest because of the judgment of my political party the APC. Simply, what you give is what you get. That is if you give much, you will also get much in return. That is what the Southwest is enjoying. Now, how do you place the Southeast in this calculation? They are nowhere to be found. The highest position the Southeast is occupying, is at the National Assembly. That is the Chief whip, a party position and not a national position. The Chief Whip of the Senate represents mainly the APC senators. It does not have overwhelming control of the PDP senators. The occupant can only negotiate, so the Southeast is nowhere to be found in this equation at the moment. So, for the Southeast to jump the bottle neck, to emerge in 2023, it will be difficult. The PDP can still rely on the north. They know that if they break from the north and give the Presidential candidate to another zone, PDP will problem. So in 2023, PDP will still go back to zoning its Presidential candidate to the north. But for the APC, the fight is between the North and the Southwest for the President.

    What is your view on the present cabinet of Buhari?

    I do not have confidence in the present composition. And when I compare that of Lagos State to the Federal Government I think, Governor Babajide Sanwo-Olu is better. There is no gap in Lagos cabinet. You can see technocrats and when you put this side by side with the Federal Government, the federal cabinet is like a compensatory cabinet. People who can make things happen are not fully involved. This is why I say I do not expect much from the Federal Government.

  • ‘Walking on the street triggers my muse’

    Chimnonso Onyekwelu is a writer, author and legal practitioner. She is the author of The Blissful Unknown, a novel. It is her love for books that has made her often shift her attention from legal issues to engage in narratives, looking at social issues in literary forms. In this interview with Edozie Udeze she relates how her growing up helped her to be a novelist and someone whose keen interest for details has been a great advantage in her recourse to story-telling. She says: ‘Anything can trigger my muse, even walking on the streets and lots more.

    What triggers your muse?

    Anything can trigger my muse. Walking on the street, the sight of two people fighting can immediately spark off something in my mind. Again, I observe people, events and scenarios a lot. And so, once I have a book project at hand, every conversation, exchange, and incident automatically stands a chance of being featured in my book, in a different way. It’s so real, that sometimes, I could be having a chat with my friends, and I’m already imagining that same conversation somewhere among some of my characters.

    When you read a book, what are the essential issues you look out for?

    I tend to get bored easily, so it takes a whole lot to keep me reading whenever I grab a book. And so, asides when I read for the purpose of learning, in which case, I overlook how boring the book may be and concentrate on the knowledge or skill I intend to learn from the said book. But when I am reading for leisure or entertainment, I look out for books which have great narratives, suspense, powerful diction and intriguing twists.

    What sort of books interests you most?

    Man is almost naturally born crude. He stands a chance at greatness by first deciding to be better than he ordinarily should have been, learn from the people he wishes to be like (role models), and read to enlighten his soul. I personally go for books which contents have the ability to sharpen my mind and encourage me towards being better. Again, I am an ardent lover of God and so asides the Bible, books that can encourage me in my walk with God and help me grow spiritually are also top on the list. Also, I love reading novels from authors who are skilled in weaving stories of suspense, intrigue and love.

    Of all the books you have read which character or characters struck you most?

    Hmmmn, I would say the book- The Hawk and the Jewel by Lori Wick. The character of Sunny had me wrapped up in awe. She was a young British girl, who barely two years old, was saved by the King of Darhabar after she almost died with her parents from a ship wreck. She grew up oblivious of her nationality or her status as the next Duchess of Ravenscroft until her family found her and returned her home at the age of fourteen. I found her character intriguing because of beautiful purple eyes, adventurous tendency and strong personality.

    At what point in your life did you start nursing the idea of being a writer?

    I would say, sometime in my senior secondary class two. You see, I grew up reading books. Growing up as the third child in a family of eight with a father who was a disciplinarian and a mother who was a teacher was somewhat daunting but fun. My love for literature was fueled by my mom who encouraged us to read books as that was the only way to let us into a world she and my father could not readily give us.

    She was able to do this by introducing us to the world of book reading. My mom would go to the market and buy about four or five books at a time and share it amongst us to read. We would do so and then exchange the books with each other until same goes round. As a result, although I was not born with a silver spoon in my mouth, I was given a free pass to journey alongside Alice as she made the great adventure in Wonderland. Reading books like Charlie and the Chocolate Factory, The Giving Tree, etc played a great role in my formation.

    And so, sometime in my senior secondary class two, I began thinking that it was high time I stopped consuming other peoples works and begin writing mine. As a result, my first published work- THE BLISSFUL UNKNOWN was begun in my senior secondary class three.

    Any particular book that triggered the interest?

    I wouldn’t say a particular book did the magic, it was more like a spark of inspiration; one day I was enjoying a novel and another day I was thinking- ‘Nonso, you can actually put down something for others to enjoy too’. Following through with this thought, I began to show interest in writing. The moment I started writing, my mother came in. Being an author herself, she encouraged me to continue. Even when the rigours of being a law student began taking its toll on me, and I stopped writing for some time, she was there to cheer me on till I continued again.

    When and where do you prefer to read or write and how often?

    As much as I could read or write anytime, I tend to be more productive and efficient after I am well rested, and that happens in the wee hours of the morning. So you could say I am a morning person. And so during the day, I gather my ideas and scribble them down on my Idea Book and in the morning, precisely between the hours of 4 and 6:30. I set to work.

    Usually, I wait and woo my muse till it kisses my pen because the result of that affair is always special. But when I have a client I am writing for or a blog post with a deadline, I write without reservation. Asides these, I write as often as I can get the time to do so.

    What is your preferred genre of literature?

    Hahahaha, I would say romance. People often think that I am a little unemotional, but nothing could be farther from the truth.  May be that was what drew me in my secondary school days to begin reading all those Mills and Boons novels. I was however greatly concerned that I couldn’t find any one of them which didn’t have a sex scene. They were always too risqué and vulgar and so at a point, I stopped reading them. But having lost my heart to books, I couldn’t afford to just forget my first love just like that. This led me to begin searching for an alternative.

    Phew, finally, I discovered Christian romance. Here, I got two packages in one- I could enjoy my romance novels without worrying about any erotic scene and secondly, I could be greatly encouraged in my walk with God by some of the characters approach towards everyday challenges.

    Who are your choice authors home and abroad?

    Abroad, I would say that my choice authors are in the person of the great Hall of Famer- Francine Rivers, the powerful narrator- Karen Kingsbury, the electric- Lori Wick, the serial writer- Brian Tracy and the influential leadership coach in the person of John C. Maxwell.

    At home, I have greatly enjoyed the works of Chimamanda Ngozi Adichie. She is an awesome writer; Americanah was nothing short of a dynamic mixture of a skill, a gift and a honed craft. Late Prof. Chinua Achebe is another author whose works I have greatly enjoyed.

    When you meet any of them, what will be your first question to him or her?

    Hmmmnnnn, upon seeing someone like Lori Wick who could write up to five different series of a particular book, I certainly wouldn’t settle for just one question.  I would ask her these-

    – When writing a series, how do you manage to keep things fresh for both yourself and your readers?

    – How do you get inspirations for your books?

    – Considering that writing can be a very emotionally draining career, how do you manage the emotions elicited by the characters in your book with those brought on by your day to day activities.

    – What would you say is your unique writing quirk?

    – And finally, what’s your advice to budding writers?

    Are you a re-reader and how often?

    Hahaha, I would say a very big yes. Once I love a book and really enjoyed reading it, I could read it again a thousand times. (Laughs), okay not literally. But I could read it again about two or three times, but this time not the whole piece. Having read the book, I already know the chapters and scenes which spoke directly to me or the parts which were very didactic. And so I go straight to those parts and relieve them again.

    How has writing reshaped your life?

    Writing has practically changed the way I do everything. It has changed the way I read; I now read with a very critical eye. I see things in a sentence a non-writer would have glossed over or may not see. I appreciate certain scenes more, because I understand what it took the writer to put it together.

    Writing has greatly increased my friend zone (particularly my online friends). Until I started writing, precisely on online platforms such as Facebook or Instagram, I had been denied the privilege of meeting some of the most incredible writers and personalities.

    Again, writing has made me more observant, because I have learnt to appreciate the beauty cloistered in seemingly mundane things. It has changed the way I look at people and things. A frown on someone’s face doesn’t go unnoticed, a twitch of a person’s eye, a sudden cough in a conversation; all these tell a story or could possible feature in one. It’s just so amazing.

    How do you arrange your library?

    I like having handy any book I want to read and not having to search the whole cosmos before I find what I’m looking for. So I arrange my library in such a way that everything is easy to be found. It’s a three stepped library. Each step for my three favorite genres; inspirational books, spiritual books and novels. Each step is first categorized into topics written by different authors and then their title. Take for instance, the first step which houses my inspirational books are arranged beginning with books on the topic of personal development. There you find authors like Brian Tracy, James Allen, Dale Carnegie, etc  with titles such as Eat that Frog, Million Dollar Habit, As a Man Thinketh, How to Win Friends and Influence People, etc.

    What are you reading now and what do you intend to read next?

    I am currently reading Million Dollar Habit by Brian Tracy. Brian Tracy in my opinion is the go-to man for business secrets and personal development nuggets. In this book, he taught that a good percentage of what people feel, think or do is determined by their habit. These habits are ingrained but can be exchanged with positive habits which can be learnt. He went ahead to teach how to let go of some of these despicable habits and embrace positive ones.

    After this, I would dig into The Power of Positive Thinking by Norman Vincent Pearle. I have read this particular book before now, but that was about six years ago. I have no doubt forgotten some of the principles it teaches, plus my world has also expanded so much more than what it was when I earlier read it. So I look forward to reading it again.

     

  • Ericsson opens factory in China

    Ericsson, a mobile phone company, has concluded the transformation of its existing factory in Nanjing, China.

    The 18-month upgrade has seen Ericsson modernise every step of the production process in Nanjing, in preparation for the introduction and rapid deployments of 5G in China. This includes the first modular-designed automatic assembly line for 5G radios, which will enable Ericsson to produce the latest 5G radios in the capacity needed for the Chinese market.

    The Nanjing factory is part of Ericsson’s global supply chain set up.

    Upbeat, the Executive Vice President and Head of Business Area Networks, Fredrik Jejdling, said this is another important milestone in their global supply readiness for 5G.

    “Our factory in Nanjing is a great example of how our next-generation technology is changing the future of manufacturing for the better. As a global company, we have gained insights from testing and applying 5G technology for industries and now we are bringing the learnings into our own factories, which will benefit the whole ecosystem,” said an elated Jejdling.

    The Nanjing factory is part of Ericsson’s global supply chain set up and this news follows the previous announcements on Ericsson digitalizing its factory in Estonia and establishing a smart factory in the US. Ericsson’s global supply chain strategy is to ensure the company works close to customers through its European, Asian and American operations, and secures fast and agile deliveries to meet customer requirements.

     

  • A confluence of fact and fiction in Ile-Ife

    The occasion was the 70th birthday anni-versary and the retirement celebration party of Professor Chima Anyadike of the Department of Literature in English, Obafemi Awolowo University, Ile-Ife, Osun State, where Mr. Sam Omatseye delivered a valedictory lecture in his honour. Themed: The rebellion of reality: a contest between fact and fiction, Omatseye took guests through instances and stages of the meddling of one against the other and how the journalism profession has been caught in the middle of it all. Edozie Udeze was at the lecture in Ile-Ife.

    The auditorium II of the Faculty of Arts, Obafemi Awolowo University (OAU) Ile-Ife, Osun State, penultimate week was agog with an array of literary events that kept the atmosphere aglow.  It was a day when Professor Chima Anyadike was celebrating his 70th birthday and to also retire from the university.  Anyadike is a professor of Literature in English, one of the most notable and classical Achebe scholars in the world.  The celebration which attracted scholars, friends, colleagues and students in large quantum was an opportunity for a valedictory lecture in his honour.  The lecture, entitled The Rebellion of Reality:  A contest between Fact and fiction, was delivered by Mr. Sam Omatseye, chairman editorial board of The Nation newspapers Lagos.  Fortunately, Omatseye was a student of Anyadike.

    The hall came alive as guests scrambled for space to enable  them partake in the richness of the moment.  It was a day when literature and literary matters truly took hold of everyone present.  And no one ever disputed the fact that Anyadike did impact profoundly on the campus and those who happened to be his students.  But it went beyond that, for the Vice Chancellor of OAU, Professor Eyitope Ogunbodede availed himself the opportunity of the programme to pour encomiums on the celebrator.

    “It is a moment to cherish”, he began with a glow on his forehead.  ‘As I happily welcome all of you here today, especially Chairman of Council, Dr. Yemi Ogunbiyi, and his wife, let’s not forget to highlight the fact that we have witnessed tremendous progress and peace here since Ogunbiyi became chairman.  Before the end of the year, we will have begun to generate our own internal electricity.  Beyond that, the Anyadike family has been a wonderful one; exemplary.  They have been good to the campus, both the wife Bisi, when she was a student up till this moment.  She had been an activist and she still is.  Anyadike has spent all his career years here with us without a break.  This calls for celebration.  When the situation seemed tough, he struggled on; others could not do so” Ogunbodede said.

    He then turned to Bisi who was also seated on the high table: “You’ve done well.  He doesn’t look his age, because he has a wonderful wife in you; you’ve been taking good care of him.  Yet, it is God’s gift to look young.  You have played a remarkable role to help build this university.  Therefore, we will be glad to prevail on you to remain a little while to contribute more to the wellbeing of this citadel of learning”.  The Vice – Chancellor decided, while guests cheered.

    In his speech, Dr. Ogunbiyi recounted how he got to meet Anyadike about forty-two years ago through Professor Biodun Jeyifo.  “It has been interesting ever since.  We have worked together in the department for a long time.  But more interestingly, Chima came here and met an Ife princess and got married to her.  Today God has blessed them with lovely children, one of who once won the most beautiful girl in Nigeria.  And here today in our midst are their lovely grandchildren”, he teased turning to Anyadike.  “How many of them do you have yet?”

    Ogunbiyi who chaired the event reiterated the need for Nigerians to continually honour those who deserve honour while they are alive.  “We should honour our own as they should.  We should do that from time to time.  This is why I am suggesting that the university should find somewhere for him to render more services to the university.  Chima has done well; he has given his utmost to the university”, he said while most close allies and colleagues of the celebrator nodded their acclaim.

    Reminisces

    Omatseye who took the theme of the lecture based on a number of encounters in the society as they relate to fiction and non-fiction, began by paying tribute to the man who helped to shape his literary life.  “I want to thank Professor Chima Anyadike for this opportunity to deliver the lecture”, he said as the hall suddenly became solemn and deeply quiet.  “But first, I want to congratulate him for a marvel of a career as a teacher and scholar.  I also thank God Almighty for the gift of his life, for roaring through the decades to what the Bible, in its inimitable style, calls three scores and ten to fruitful, engaged, but quiescent life”.

    An engaging and quintessential journalist himself, Omatseye went back into time: “Anyadike is known for a number of things.  He is a mainstay of the literature department at the Obafemi Awolowo University; an exponent of African literature, an international consultant on literary matters.  He is also a model of institutional longevity and loyalty.  He has been here like an unshaken and immovable Iroko tree, while others fled.

    “He is a well-known Achebe scholar, dissecting the bard like few intellectuals can.  People know him for these qualities and more.  Of course, I did not know that in my life time, I would ever call him the Odenigbo of Ekwulobia.  So, when he became a chief around the time he became a professor, I quipped at this diptych virtue, and I was at a loss whether to call him Chief Professor Anyadike or Professor Chief Anyadike and I knew as a literary person I was inadvertently launching into a miry clay about linearity in a story”.

    He then quizzed, as the hall came abreast again:  “Should we start from the beginning or the end and then there is the question as to what is the beginning, the middle or the end.  I might be waking up the eternal theorist of deconstruction known as Jacques Derrida, who confused reality and fiction because he thought reality is the most dangerous thing to take for granted because structure, in the last reality, is probably not structure at all”.

    Like a historian who never detaches from his past, he went on: “Some see Professor Anyadike also as a vineyard of beauty queens.  But for me, each time I think of him, I remember that he was the great and imperturbable simplifier as a pedagogist.  As a student, once there was a complex novel, play, poem, or theory, I counted on him to give the snapshot line, the clear and simple words that tore through mesh.  He did it in his quintessential laconic manner and the few words and sentences lingered through the semester like a constant meteor of illumination”.

    While he admitted that Anyadike simplified issues for them, he equally gave credence to a history professor who paved the way to ensure he and others acquired the depth of an all round knowledge.  “Grab the taproot.  And others would fall in place”.  And with that, Omatseye, a multiple award-winning journalist grabbed brevity alongside knowledge, for as the great English playwright William Shakespeare noted, brevity is the soul of wit.

    Realities and fiction

    For Omatseye the theme is not just topical, it is one that goes deeper to examine if indeed there is really any difference between fact and fiction or between realities and unrealities in the stories we tell; or in the narratives we embellish in time and space.

    “Now some realities”, he continued, even as guests looked glowingly at this towering and ever smiling figure on the dais.  “When I chose the subject: The Rebellion of Reality, the contest between fact and fiction, I told myself I might even have reversed it and called it rebellion of fiction.  But it is convenient for us to say it is the rebellion of reality because we tend to think that reality came before fiction.  That, I think, is one of the greatest unrealities in history.  Did you hear what the scientist and master of relativity, Albert Einstein, say?  He did not always traffic in reality if everyone thinks he was the ultimate icon of science in the past century.  So reality, he said, is merely an illusion, albeit a very persistent one”.

    He gave many instances in the past and the present about the inseparable nature of reality and unreality, fiction and fact and how they have all come together to shape the surface of the earth.  “We know that societies begin with a sense of illusion we call myth.  We have seen societies that believe the world began on the back of elephants or that they were birthed by snakes, or that they have no story except with cows.  In my mother’s home village, Orogun in Delta State, the monitor lizard, with the ominous grace of its glides, is a totem tied to the origins of the people.  Here in Ife, the story is about human beings as it is about a gourd of palm wine, a piece of earth, water and cockerel, et al”.  So, where does one start and the other ends.  Are they are not interwoven?

    Omatseye noted that in most situations, an event is often dictated based on the point of view of whoever that is involved.  But one thing is clear: “fiction or reality depends on where or how you are standing, what shade of eye glasses you are wearing, whether it is coloured by a certain faith or vanity, whether you love a tribe or kiss a totem.  So the origin of reality is really fraught from the beginning.  Even something we take for granted as reality may be disputed and projected as fiction”.

    In other words, every story is seen from the point of view of whoever that is reporting it.  It might be twisted to suit the whims and caprices of the person.  Therefore, it becomes difficult or even near impossible to always separate fiction from fact, or reality from unreality.  Together, both make up a story and it sticks and becomes eternally etched in history.

    “I am a journalist”, he continued, after recounting series of examples where twists and raconteurs helped to embellish a situation.  “And no trade simultaneously craves facts and holds them in contempt like journalism.  I am of a few journalists who never believe that there is such a thing as objectivity.  We are always sure of facts until we are no longer sure.  Sometimes facts are sacred that we pooh-pooh the truth.  That is why libel lawsuits, retractions, and apologies have become part of the journalistic narrative.  That’s in spite of the inbuilt securities with editors and copy editors.  We call them gatekeepers”.

    But what is really a fact?  Or how does one separate fact from fiction or make both a reality in every narrative?  He went on thus: “But one of the problems of reality is that we want to turn them into our own realities and that provides fiction for those who look at the world from a different lens”.  He then referred to the drama that played around the rumoured death of the great Dr. Nnamdi Azikwe at a point.  R. B. K. Okafor, the man behind the drama swore he was with Zik when he died, yet Zik was never dead then.  In the end, The Owelle declared, “I am not in a hurry to leave this planet”.

    An American Mark Twain also said, “stories of my death have been greatly exaggerated”.  As it happened to Azikwe, so has it happened to many great men and women of history.  Omatseye went on to relate a scene that was created around Chief Obafemi Awolowo by those who believed in the myth.  “I was at home one evening in Lagos, when I was jolted to the streets by what began as a hum and later buzz and ultimately faces overwhelmed by the majesty of the figure they were looking at in the moon.  They said it was Awo.  The man was not just gone to heaven.  He had reappeared may be in the secular replay of the transfiguration of Christ in the Holy Bible.  Now, I might either have been blind, or may be, as the case of the transfiguration, the vision was meant for only the initiated, that is those who loved and bowed to him while he lived, just like Jesus and when Jesus came back from the dead, he appeared only to his disciples.  Perhaps that was why I was one of the few who lacked an eye of understanding, apologies to Apostle Paul”.

    So reality can be experienced by two persons and they can as well see different things.  In that case the theme of the lecture readily comes into play in all this.  The rebellion or rivalry between fact and fiction is ever constant.  That’s why even when a novel is supposed to be a fiction or clearly stated to be so, readers still swallow line, hook and sinker its contents and making the story believable in their subconscious.  Omatseye insists that the Da Vince Code by Dan Brown situates the narrative clearer in this instance.  “Yet that best seller provoked so much interest around the world that some persons were reading it as reality…  And it created a burst of tourism in France as many trooped from around the world to the Musee Du Louvre to see some of the scenes the author crafted”.

    As it is in political narrative so it is in social life.  And so “because of this entanglement of fiction and reality a genre came into play called faction”, he further elucidated.  “Some have looked at it in another way and highlighted a genre creative non-fiction.  What this means is that you tincture with the facts, by retelling what you witnessed in the style of a novelist.  This is tricky…  Because of the flourishing of facts, and the need to sustain fiction, the novel had had to reinvent itself.  Hence we have magical realism, a genre that serves up fiction within fiction throwing up fantastical tales.  Novelists like Marquez and Rushdie are the masters”,

    In summation, the fact remains that “at the bottom of the fight between reality and fiction is the struggle for power and domination, a hegemonic tension that goes back to the beginning of time.  The solution is simple: Fiction lovers should get back their stories from imposters.  Fiction has a way of elevating reality.  Both are partners.  We don’t need those who use it to kill, because the ultimate rebellion of reality is to fight the flourish of lies and distortion of reality”.

    Do we need to marry both?  “Yes,” Omatseye enthused.  “That’s the solution.  We should follow the philosopher Blaise Paschal’s solution: To shut reason out, and to let nothing else in”.

    The session was handled by Dr. Chijioke Uwasomba who regaled guests with series of stories around the celebrator and other theatricals in the larger societies.  The Eze Ndigbo of Ife Ezekiel Onyejekwe was there.  From the palace of the Ooni of Ife, came some chiefs with the insignia of authority to identify with Bisi Anyadike, a princess of the kingdom.  The event was spaced with some cultural displays and the three books produced around Professor Anyadike were also unveiled.

    At the end of the lecture, there was a resounding applause for Omatseye.  As he wound up, the guests stood up in unism to give him a thunderous ovation.  Many of the scholars confessed that it was a profound treatise on the topic, something that needs to be looked into for further research and acclaim.

     

  • Single mother needs N1m for breast surgery

    A SINGLE mother, Omowunmi Adekanbi urgently needs N1m to run tests, undergo a breast surgery and buy drugs.

    Adekanbi, who was at The Nation newspapers office during the week, has done three surgeries to remove several lumps from her left breast but after the last surgery in September last year, the lump has grown back.

    Speaking to this reporter, Adekanbi, who is in severe pain said: “I have a problem on my left breast. I have removed the lump that keeps growing on it three times but it has grown again and the doctor said I have to remove it before it becomes cancerous. In the last years that I have been removing it, I have spent all my savings.”

    Adekanbi who had also suffered from thyroid and operated it in the past says that she needs to remove it urgently and find a lasting solution to it.

    Showing this reporter past receipts, laboratory tests and prescriptions from doctors, she called on well-meaning Nigerians to come to her aid.

    To assist Adekanbi, please make your donation to GTBank, Omowunmi Mulikat Adekanbi, 0240038576.

  • ‘Local content policies must work’

    From the Managing Director, Finlab Nigeria Limited, Mr. Uzo Nwaije has come a clarion call to the federal government: ‘there is need to galvanise action aimed at supporting businesses, especially manufacturers.”

    The Finlab boss gave this charge at the weekend during a public forum in Lagos. According to him, the federal government needs to continue to lend support to manufacturers by implementing policies that would encourage them to thrive.

    While delivering an address titled, ‘Strengthening indigenous manufacturing in Nigeria,’ Nwaije who commended government for its contribution towards the growth and development of manufacturers especially with the 40% local content policy stated that there was still more to be done to assist them.

    Nwaije commended the significant role being played by Buhari-led administration for promoting and encouraging manufacturers via the implementation of new policies that had seen many companies emerge in the last four years.

    “I think the federal government is doing extremely well especially in the area of 40% local content. But we believe they can do better by helping to look into other areas such as formulating policies to reduce dependence on importation. We will also appreciate if they can raise the percentage of local content,” he said.

    Nwaije who admitted the tough challenges in the sector said he remains optimistic that indigenous practitioners would succeed in the long run provided government continue to support them. “Manufacturing in Nigeria is not easy when you consider the ease of doing business, government policies, power and how it affects business. As you know, we produce laboratory fittings, equipment, glass wares and plastic wares, bringing raw materials of these products into Nigeria can be very tough due to cost of import duty on raw material and other charges,” he stated.

    Nwaije noted that with the signing of Africa Free Continent Trade Agreement signed by the Nigeria, he is confident that the government would strive more to create enabling environment for business to grow.

    He therefore urged them to put the necessary structure in place to make the agreement work noting that Nigeria products have greater chance of competing favorably in the market.

    According to him, more investment should be expended in the area of road infrastructure and power as doing so will make Nigeria’s products more competitive among other partners as well as globally.

    “I consider AFCTA has a good move that would help promote and improve business in Nigeria but I think we need to solve some of the major problems affecting the growth of our economy. If we want our goods to be competitive, power supply has to be improved, roads infrastructure must be in good shape and security must be in place. For me, I think we have what it takes to excel, all we need to do is to invest in our country. We have the population and we have the market,” he said.

    While applauding indigenous manufacturers for their steadfastness amidst various challenges affecting their businesses, he tasked them to continue to raise the bar by ensuring that products manufactured are of quality standard and at par with what obtained in developed markets

    “I think many manufacturers are doing well but there is room for improvement. Many of these companies including ours have embarked on ISO certifications. In this case, most of our products meet the required standard and are exported outside the country. It is a known fact that 90% of what we have in Nigeria are imported but I think we have what it takes to replicate what we import given what some of us who are manufacturers are doing,” he explained.

    Nwaije therefore urged consumers to continue to prioritise and patronise made in Nigeria goods noting that doing so would encourage indigenous manufacturers to thrive.

    Finlab Nigeria is an indigenous manufacturing company with over three decades of design, manufacture and installation of Laboratory Furniture, glass wares, plastic wares, equipment among others with markets spread around Africa countries that include Ghana, Cameroon, Benin Republic, Cotonou and Ivory Coast.

  • NINI IYIZOBA

    Nini Iyizoba is a woman of many parts. She is a writer, entrepreneur and medical doctor who created and produced a wellness talk show. In this interview with Yetunde Oladeinde, she talks about her passion for fertility issues, coping with stigma, her personal struggles and how this motivated her to embark on a fertility advocacy journey to help other women.

    TELL us about your fertility health advocacy journey. What inspired you to embark on this?

    You never really understand something until you experience it yourself. Having my own fair share of challenges and difficulties, I know firsthand the stigma, the struggle, the hurt and the disappointment that millions of people silently go through. I felt like this experience was there to help teach me something and to help me grow. So, I wanted to turn all that around into something positive and help people facing the same challenges, and from there the fertility health advocacy began. Dr. Nini Women’s Health Awareness Foundation was created out of love and a love for other women just like me that struggle with infertility in life.

    Our aim is to first end the stigma surrounding infertility. We need people to understand that infertility is very common; it is a medical condition just like any other such as high blood pressure. And women and men must understand that the fact that you have been diagnosed with infertility does not mean that is the end of the world. No! It is not a death sentence. In-fact more people need to speak out about it because when there is more awareness, there is more education, and when there is more education, people are more accepting.

    We aim to increase awareness on infertility, educate people on infertility and ways to overcome them, to promote fertility health. We believe that people can be educated on how certain habits affect their health and teach them how to start early to achieve optimal fertility health. We also provide resources to help and support those dealing with infertility in whatever measure that we can provide. There are several treatment options available, whether InVitro Fertilisation, IntraUterine Insemination, Egg freezing, Ovulation Induction, and most times, most people are not aware of these or they are too ashamed to even speak about. It’s time to end that backward mentality! This is the 21st century and we need to evolve with the times. We need to be thankfu l for advancements in technology and use it to the fullness of our advantage. Also, we increase awareness and educate women about life-threatening reproductive health conditions and advocate for sexual health and reproductive health.

    What are some of the things you have done on this journey?

    Our launch event held in 2015 termed the ‘Kick Off Endometriosis’ event was aimed at creating more awareness about a rising cause of infertility known as endometriosis. Endometriosis affects more people than breast cancer but very little is known about it. It usually starts out in young teenagers and usually goes unnoticed till the women reach childbearing age. I felt the need to speak up about endometriosis so that more people would recognise the symptoms, especially young ladies, and to get help before it gets too bad. In 2016, we had another event ‘Positive Vibes Only’ discussing mental health and infertility and mainly aimed at the importance of having a positive mindset during the infertility struggle and we provided resources for women who may be dealing with anxiety and major depressive disorder. People suffering from infertility know that it takes a toll on one’s mental psyche. It’s an emotional rollercoaster and most people suffer severe depression and feelings of worthlessness during this time. I felt the need to emphasise the importance of good mental health in dealing with these issues and overcoming them.

    In 2017, we held the ‘Keep the Passion Alive’ event for couples dealing with this. In addition, we have had various educational programmes aimed at educating young women in the universities about sexual health behaviours and how it may affect fertility. We have also partnered with a few fertility clinics to provide free health screenings and certain treatments for women.

    We recently launched the Fertyl Life By Dr Nini networks which are just a group of women who are united because they share something in common and provide support for each other by sharing their experiences and success stories. We are also launching the Fertyl Apparel, which are just fertility and infertility awareness gifts such as T-shirts, mugs, hats, socks, pillowcases and greeting cards etc, that are inspirational, funny and give hope to those dealing with this. Proceeds from the sales of these items would be applied towards more women’s health awareness programmes.

    Let’s talk about life as a medical doctor

    Life as a medical doctor is interesting, especially in Nigeria. It exposes you to a wide range of people and you quickly develop people skills. In general, as a medical doctor, you are constantly learning because you are almost always surrounded by intellectuals and you always have to try to keep up with latest trends because medicine is always advancing. Sometimes, it’s really stressful but there is a certain sense of fulfilment that you get from positively impacting a patient’s life. My life as a medical doctor here in Nigeria is different from what it would have been if I were still living in the United States. In Nigeria, I have been able to dabble into so many other things. I am an entrepreneur, a restaurateur, a businesswoman, a writer, a speaker, a health and wellness advocate and coach. I have a health and wellness talk show that I created and produced, I run a women’s health foundation and then, I am still a medical doctor. So, yeah, it is a very interesting life.

    What are some challenges you have encountered?

    Things work very differently here in Nigeria. People are not very knowledgeable about diseases and risk reduction. The attitude towards healthcare and preventive medicine is very lackadaisical. It’s also a challenge to put in your best to work especially when most of your colleagues are not encouraged or motivated to work due to lack of resources. You find that you cannot just be a doctor alone in Nigeria. You have to find a side hustle because a lot of doctors are not well paid. And it’s a shame really, because we have such smart, educated, brilliant doctors but they are leaving the country because they are not compensated well enough for their services. This is something that needs to change, hopefully soon, and hopefully for the better.

    What about some memorable moments working with women?

    I would have to say the launch of the Dr Nini Women’s Health Awareness Foundation was one of my most memorable moments. It takes guts and a lot of courage to have a foundation or to support a cause that deals a lot with fertility health and infertility awareness. It’s almost a taboo to speak about it, but part of our aim is to address the stigma and to know that there are several treatment options so every encounter with men and women regarding this is always one that I cherish wholeheartedly. I am proud of myself for neglecting the comments and taking that plunge. People still talk but I can’t hear them!

    What are some of the achievements in the sector?

    Getting more people to be open and honest about their fertility journey, especially in a country like ours where everyone is so hush-hush about these things. It’s time to end the stigma and start a conversation about ways to overcome it because truly it is not a death sentence and there are treatments available; and getting more and more people to realise that gives me satisfaction. It’s still slow, but still a step in the right direction.

    What are you looking forward to in the next few years?

    I’m looking forward to opening a free fertility clinic for women one day in the future. So help me God.

    Who or what do you consider as the greatest influence in your life and career?

    Though it may seem unorthodox, I would have to say my husband has been and continues to be a great influence. There’s nothing like having someone who truly supports you and encourages you in everything you want to do. It allows you to be adventurous and discover potentially satisfying career options. And he is such a hardworking man that he motivates me and pushes me to even do more.

    Let’s compare when you started and now, what has changed?

    When I first moved back, all I wanted to do was find a hospital or clinic that I could practice my medicine. I used to think that the only place that I could be a doctor was if I was going to the hospital every single day. Thank God I think differently now. I tell myself you are a medical doctor in every situation you find yourself; you have the knowledge and you have the skill so I can use it anyhow I want to, whether in TV, in the newspapers, on social media. My aim is to promote health and influence people to live healthier. Don’t get me wrong, I truly respect everyone that puts in the work in the hospitals every day; they are the real MVPs. However, sometimes you have to follow the path that life has pointed out and create what works best for you. For now, I knew I wasn’t going to be happy doing that every single day, maybe in the future. Now I’ve been able to spread my wings and explore the practice of medicine beyond the clinic and it has opened up different opportunities that I never thought possible.

    What are some of the changes that you would like to see in the country, regarding your profession?

    Well, I would say our healthcare system still needs a lot of work. Not too long ago, there was a story of a patient receiving medical care in the parking lot of a teaching hospital because there were no available beds in the hospital. Stories like this make me cringe! For starters, the government should make more health centres available and employ well skilled staff and doctors in these health centres. In addition, health services should be more affordable for the low income earners in our country. Our hospitals need well-trained and motivated staff in order to provide proper care to patients. How do you motivate them? Well, one way is to pay them well and provide equipment that makes the job easier.

    What lessons has life taught you?

    Life has taught me that things won’t always happen the way you plan for it to happen. As much as you want to plan your life, it has a way of surprising you with unexpected things. There would always be challenges and curve balls thrown at you but you have to just trust the process and know that God’s plan is the best so I just align myself with Him.

    What are some of the things that you treasure most in life?

    Family; I don’t know what I’d do without my family. They are a great support system in all aspects of my life.

    What are some of the principles that you hold on to?

    Positive vibes only! I believe that one should approach everyday with a positive outlook. I believe in transmitting positive energy and thoughts into the universe, it would eventually become your reality. When things don’t go as planned, I say ‘Oh well… there’s something better coming my way’. It’s not a coping mechanism. It’s my way of life.

    Shall we talk about the people you admire and role models?

    I admire every woman that is out there excelling at being a successful career woman even while juggling a hectic family life, and balancing it all. It’s not easy but they somehow pull it all together; I admire them. On days when I can’t do it no more, they inspire me, whether they know it or not.

    If you had to advise Nigerian women, what would you tell them?

    There is nothing wrong with saying No! Sometimes we are so busy taking care of everyone else that we forget to take care of ourselves. Women… we all have to learn that we matter as well! It is not selfish to put yourself first. Take some time out to take care of yourself, visit your doctor, and find ways to relax. All these would make you healthier, happier and even more productive.

  • Detention while awaiting trial? – Freedom for Sowore and the tens of thousands detained in Nigerian prisons illegally

    I am writing this piece on Friday, September 27, 2019. It will appear in print and online on Sunday, September 29. There is a very slim chance that by that date, the government of President Buhari would have obeyed the order of an Abuja High Court granting bail to Omoyele Sowore while standing trial for, among other alleged offences, treasonable felony. Given the current administration’s poor record of obeying court orders pertaining to release on bail of its many “enemies”, this is highly unlikely. But it may happen. If it does, some of the things I shall be saying in this piece would have been overtaken by events. If, however, Sowore is still in forcible and illegal detention by the time that this piece is read in print and online, then much of my observations in the essay will, sadly, be validated by yet another act of deliberate and unwarranted rubbishing of the rule of law by the government.

    In this piece, I am joining my voice to the voices of people in Nigeria and abroad that have called for Sowore’s his immediate release. Furthermore, I call for all charges against him to be dropped by the government because his call for massive and prolonged demonstrations is protected by the Nigerian Constitution. Moreover, I declare that the call of Sowore and the organization known as #RevolutionNow for protests constitute an act of civil disobedience that not only is a valid and honorable part of the political history of this country but also a tradition that President Buhari himself has deployed in pursuit of both his political ambitions and his vision for the country’s development and progress. But if it is the case that the government will not drop the charges Sowore, I join others in demanding that he should be freed now and be given a manifestly fair and credible trial. Free Sowore now! His continued detention is unjust, unlawful and profoundly anti-democratic.

    Since both the detention of Sowore itself and the alleged offences for the detention have been widely reported – and protested – in Nigeria and abroad, it is useful for me to begin here with the things that I find particularly noteworthy in the still unfolding saga. For this, I ask the reader to please take note of the first part of the title of this piece: detention while awaiting trial. As I shall demonstrate in the course of my reflections in this piece, Sowore is only one of tens of thousands of Nigerians languishing in prison, in detention, while awaiting trial. Among all the profoundly unconstitutional and anti-democratic aspects of governance in our country, this is one of the worst. Thus, Omoyele Sowore’s case is only the currently most talked about and scandalous instance of this extremely anti-democratic pattern or, indeed, tradition. Permit me to make a short elaboration on this particular case before coming to the more general aspects, especially as this has been manifested in the past and present political career of President Buhari.

    Sowore has been in detention since early August. As a matter of fact, after his arrest, the order for his detention was granted by a court for 45 days while investigation of his alleged offences was being conducted, with the proviso that if the investigation was not yet concluded in 45 days, the government prosecutors in the case could ask for extension of the detention. But this week – about the 6th or the 7th week of Sowore’s detention – the prosecutors announced that all investigations into the alleged offenses had been concluded. Moreover, the prosecutors did not ask for Sowore’s detention to be extended – presumably because they have no legal basis to do so. Instead of this, they are saying something more chilling, more sinister, this being the declaration that some of the alleged offenses for which Sowore is being charged are capital offenses that carry the death penalty, an assertion that Sowore’s lawyers have stoutly contested. The implication of this is as clear as daylight: in the absence of any valid legal basis for the continuation of Sowore’s detention, any excuse, any concocted rationale must be found to perpetuate this Nigerian tradition of detention while awaiting trial that the current administration has taken to hitherto unprecedented levels.

    I must quickly correct the last sentence. There is nothing uniquely “Nigerian” about detention while awaiting trial. In many other countries, we do find the phenomenon of so massive an over-congestion of criminal cases in the courts that the judicial system has to either release accused persons before they can be tried or keep them detained for as long as it takes for their cases to be tried and brought to a conclusion. The peculiar “Nigerian” dimension of this phenomenon lies in two remarkable factors. These are, respectively, the sheer scale of the phenomenon in terms of the total population of Nigerian prisons and the effect that long stretches of autocratic military rule has had on human and constitutional rights violations in our judicial order under both military and elective governance. What does this mean in concrete terms?

    Well, with regard to the first factor, consider the estimate made by some scholars and experts that have studied the issue that sometimes, between 63 to 70% of the population of Nigerian prisons are persons awaiting trial, some of them spending months and years in excess of the stipulated penalties for the crimes for which they were charged! And with regard to the second factor, the refusal of government to obey explicit court orders granting bail for persons awaiting trial, such as we have it in the current case of Sowore, began with military autocracy. Indeed, the two greatest exemplars of tradition of disobeying court orders by elected Nigerian heads of state, Obasanjo and Buhari, had their “training” for this propensity during their tenures as military dictators. As a matter of fact, the single most pernicious military decree on this phenomenon – the dreaded Decree No 2 of 1984 – was promulgated by Buhari as military ruler. Infamously, the decree called for indefinite detention for any acts intended to cause embarrassment or disrepute to the government, regardless of whether the allegations are true or false!

    Wole Soyinka has stated, perceptively and clamantly, that the government’s kneejerk response to Sowore’s call for massive protests is indicative of the increasing paranoia of the Buhari administration. As if to give proof to this declaration of Soyinka, one of the alleged offenses for which Sowore is to be charged is insulting the President and seeking to foment disrespect and hatred of Buhari: echoes of Decree No 2 of 1984! There is a big unintended irony here because, as I stated at the beginning of this piece, Buhari as both a military person and a civilian citizen has been an avid, passionate user of the tactics and strategy of civil disobedience in pursuit of his ambitions and goals. As a matter of fact, of all the 13 executive heads of state we have had in Nigeria since independence in 1960, none has been more of a practitioner of civil (and uncivil) disobedience than Mohammadu Buhari! Permit me to briefly provide a fact-based illustration of this declaration.

    Fact: Of all the military coups carried out by executive heads of state in this county, only Buhari’s coup of December 1983 against the government of the late Shehu Shagari was against an elected government. All the other coups by executive heads of state were “soldier come; soldier go” coups against other military autocracies. The coup led by Major Chukwuma Kaduna Nzeogwu was also against an elected civilian government, but as it only partially succeeded and neither Nzeogwu nor any of his fellow coup-makers became head of state, this is different from Buhari’s successful coup against Shagari. I neither condemn nor endorse Buhari’s coup against Shagari’s government. I am merely drawing attention to its uniqueness among all other military coups in Nigeria because of the element of paranoia that has been such a prominent feature of the rule of the President as both a military and civilian head of state.

    Fact: In 2015, close to the presidential elections of that year that he eventually won, Buhari made his infamous statement of militant, chiliastic civil disobedience in which he stated, inter alia, that the “dog and the baboon will be soaked in blood”. Even the diehard defenders of the President have found it difficult to explain and/or justify the taint of bloodshed as means or ends of resistance to rigging in that statement. But that is Buhari for you, at least before he acceded to rulership for the second time: forget the courts, forget election tribunals, forget appeals to the international community; there will be blood, there will be fire if the elections are rigged. Looking back now to the declaration and its context in 2015, I remember that nobody took this declaration by Buhari as an empty threat, least of all the government of Ex-President Goodluck Jonathan and his political party, the PDP. I think Jonathan was shaken by the declaration and shocked into inaction about it primarily because he thought that he could not be sure of the readiness of the security forces of the state under his control to overwhelm or even match the bloodiness promised in “the dog and the baboon will be soaked in blood” speech. For his part, Buhari, I think, sees every potential challenge to his rule in the shadow of that speech, especially if he deems such challenges or threats as potentially or actually popular.

    Think about this, compatriots. Sowore and #RevolutionNow, together with their supporters, are numbered in dozens and at most hundreds, not thousands and definitely not millions. But they could grow into millions and multiple of millions, given the state of affairs in the country, especially with the overwhelming majority of our peoples. This is the cause of the fear and the paranoia behind the government’s decision to keep Sowore locked up and deprived of his freedom – while he is awaiting trial. Incidentally, the great majority of those detained in Nigeria’s prisons while awaiting trial are poor and powerless Nigerians, the very class of people on behalf of whom Sowore and #RevolutionNow are struggling. This is the reason why in this piece I have linked the call for Sowore’s release from detention to the call also for the release of all persons in Nigerian jails awaiting trial in the law courts.

    Any Nigerian who is not rich, not influential and is without connections to those in power is a potential member of the hundreds of thousands of those in prison while awaiting trial. All it will take to join the ranks of these damned and wretched of the land is for a person to be arrested on a fateful day, rightfully or wrongfully, for a criminal offense. The elite, the educated, the famous and influential can also be forcibly thrown in this throng. All that is needed is for you, like Sowore, to insist that you and others will march and protest and demonstrate against the injustices in the land without asking or waiting for the permission of the state to do so in a tradition of moral and altruistic citizenship known all over the world as – civil disobedience. The continued detention of Sowore is intended to discourage, indeed to criminalize civil disobedience by making Sowore a warning to others who may inspired by him and the acts of #RevolutionNow. I do not think that in the long run the government will succeed in this calculation. But that is an issue that only time and history will tell. Right now, we must insist that Sowore must be freed immediately and be allowed to face his trial not as a detained prisoner.

    In the late Festus Iyayi’s collection of short stories titled Awaiting Court Martial, we find many tales evoking and protesting the harrowing emotional, spiritual and ethical landscapes in which not only those literally awaiting trials are in limbo but the whole nation as well. Fear and paranoia are everywhere, among the people and definitely in the innermost recesses of the government. In one story titled “When they came for Akika Lamidi”, the journalist for whom the security police have come in the middle of the night thinks at first that it is armed robbers knocking on his door and trying to beak it down. He soon finds that it is the secret police. And then he discovers that they are like armed robbers in their mercilessness, only a hundred times worse. They have come now for Sowore. They will not come for you but that is only if you give up your rights and obligations as a human being and a citizen.

    • Biodun Jeyifo         bjeyifo@fas.harvard.edu         
  • The World Economy Part 3: What a strange edifice

    This week, we hope to finish our brief analysis of the global economy and to register some suggestions regarding its improvement. Because of the scope of our review, our remarks will be more generic than specific, more of general application than of precise application to any one particular circumstance. In other words, this will tend to be a statement of general principles that can be applied in varying degrees to every nation, including the one we inhabit.

    First, I must admit a mistake. I have continually written of the world economy as if the financial sector and what we shall deem the real economy are parts of the same whole. (Here the real economy refers to what most people do, either through the production of actual tangible goods or the provision of services related to tangible goods.)  In so doing, I committed the error of overly indulging the orthodox view of things. At some earlier point in the world’s economic evolution, this description might have been apt. That was years ago.

    The very nature of a world at work is a world in flux. That which you do changes the world. The subsequent performance of the same action may produce more or perhaps less of the outcome you desire by virtue of the fact that your initial action altered the world. This means your subsequent action will not have the same effect as your first. If a farmer continues to plant the same amount of seed on his plot of land, his yields will change because the prior cultivation has altered the composition of the soil beneath his feet.

    The global economy is a now a misnomer due primarily to the very dynamics of that global economy. Yesterday’s textbooks teach you the financial system is an auxiliary of the real economy. It is there to funnel needed funds and investments into the real economy. What may have been yesterday’s truth is today’s falsity.

    The financial sector is no longer a mere intermediary at the service of the real sector. The financial sector is a system unto itself. Indeed, it is connected to the real sector; the interaction between the two is meaningful and substantial. However the financial system no longer exists just to service the needs of the real sector. The financial sector’s main preoccupation is its own expansion. It has grown to become an independent and significantly different system than the real sector. It has its own rules, dynamics and rationales that have little to with and almost nothing in common with the real economy. It is as if two communities once bound by blood and a common tongue, came to speak distinguishable dialects and then a different language entirely, due to the passage of time and the divergence of their experiences.  Possessed now of substantially different cultural underpinnings, the two settlements no longer saw themselves as brothers. The stronger town eventually overran the lesser.

    For those of you more inclined to the physical sciences, imagine a normal                                     automobile with four wheels moving in unison in the same direction. A metamorphosis takes place. Two of the wheels grow larger and begin to spin in the opposite direction of the other two wheels. A certain friction and drag will occur as one set of wheels fights the other to determine the direction the vehicle will take. All other things being equal, the stronger wheels will win the contest. However, much energy will be expended and wasted in this struggle. Worst, there is no assurance that the new direction taken will be as sound as the direction previously established.

    Such is the way with the financial sector and the real economy. One is a muscular Money Power that dictates the disposition of an increasing number of important things in society. The other is comprised of the diminished power of physical capital, i.e. the means of production of actual goods, and, to a higher degree, of organized labor. Both now physical capital and labor are now relegated to fighting and losing battles against the grinding onslaught of Money Power.

    Our world is oddly and unfairly structured. The fiat money system described in the prior installments of this series of articles could have provided an enlightened and fair world the fiscal latitude needed to employ labor and resources as never before. A more widely-shared prosperity and less poverty could be had. Instead, a greed-fueled world has distorted the fiat money system from a key to greater balance and equity into a mean winepress that most must trod or be crushed.

    For the past twenty years, most of the new income generated globally has disproportionately gone to the financial houses and allied big corporations. The world over, the wages of common folk have stagnated or fallen back. Trillions of dollars governments have provided banks to cure them of their speculative excesses; but not a dime extra for the meek and modest. Some nations have taken bread from the mouths of the poor in order to revive the balance sheets of financial houses that squandered their wealth on tarty deals and reckless undertakings all because the only scent they detected was that of obscene profit.

    If you are of middling or modest means and you live in a nation where you were fortunately enough to procure a loan, you could maintain your lifestyle at the price of surrendering yourself to the fate of debt peonage. For the sake of owning a car, refrigerator on credit, you would be forced to repay so much more than you borrowed; it would be small miracle if you could repay your debts at all. If you lived in a nation where you could not even obtain a loan because the interest rates were too usurious or because banks would not give your puny wants any attention, then you skidded past the transitory phase of debt peonage straight into the grip of a poverty beckoning, come one, come all.

    It is said the road to hell is paved with good intentions. As with all convention wisdom, I doubt that this true as God punishes not the good in heart. However I am sure the road to poverty is paved with the bodies of the poor for the gods of that path are Greed and Money. Such deities do not traffic in kindness or mercy. They divide the world and apportion favor and punishment along the boundaries that separate the haves from the haves not.

    The conflicted financial and economic situation we confront is now best described as a farce of four players.

    First, the financial sector is so flush with money that speculative excess is encouraged. In turn, the reckless gambling on financial assets causes the initial money surfeit to evaporate. The higher the price of financial assets, the greater the speculative temptation. The more money gained by some, the more money lost by others. Financial crash inexorably follows its own boom. Despite all of these ups and downs, funds that enter into the financial sector, rarely leave it. The money bounces from one financial house to another. This is because of the depth and diversity of the modern forms of financial trading.

    The financial sector tends to attract more money than it needs due to the higher profits it offers. But the surplus funds are always dissipated by irrational behavior and risky investment that are no saner than gambling in the dark. Panic ensues and the sector then clamors for government subvention lest the demise of the great banks and financial houses leads to a collapse of society itself.

    This is where the second player, government, comes in. Government is supposed to be for the people; however, it generally seems more prone to revive a wastrel financial sector than to feed the poor. Consequently, central banks and monetary policy almost everywhere is active if not aggressive. This is because monetary policy is the great conduit of funds to the financial sector especially during periods of distress. Conversely, government is generally tepid regarding fiscal policy. This is because fiscal policy is the primary transmission of public funds to the working class and poor as well as to firms engaged in the manufacture of tangible goods. Government is more in the hands of big money than of the insignificant voter.

    Third, there is organized labor. This once potent and vital political force now only fits half the bill.  It is still needed but no longer strong. Organized labor is now synonymous with organized begging. Physical capital, the fourth player, once was master of the universe. The manufacturer was thought to be semi-divine.  Now the manufacturing sector seeks to keep pace with the profitability of the financial sector by mimicking the behavior of financial actors However, the more industrial firms act like financial players is the more they devote themselves to short-term profiteering instead of longer-term productivity. Firms come to behave more like incipient financial houses instead of expert makers of gadgets and widgets. They engage in more financial legerdemain than is good. They do so at the prospect of winnowing productive capacity and by sacrificing to unemployment the labor force they once hired.

    The central message of all of this is that there is a structural imbalance at the core of the global economic architecture. The financial sector is the undeserved beneficiary of a funding excess while the real economy, where most people earn their living, is starved of needed funds. In a broader sense, improvement and fairness rest in reducing the excesses of the financial sector. Meanwhile fiscal policy should be enhanced to invest more funds in the making of tangible goods and physical infrastructure that improve the daily conditions of the average person. This is akin to returning to our control that unruly automobile by weakening its rebellious wheels and strengthening its obedient ones.

    Regarding a better husbandry of the financial sector, nations should consider several steps. To keep the financial sector from overheating and to lessen its speculative profitability, a financial tax should be imposed on the incestuous trading of financial assets for another similar asset, particularly with regards to trade in derivatives such as the Collateralized Debt Obligations mentioned in previous articles. Also to lessen speculation and volatility, regulations should be enacted that impose a minimum time period a buyer must hold a financial asset prior to reselling it.  This will halt speculative quick sales and split-second arbitrage in the financial markets. Players would have to be more concerned with the actual long term soundness of a particular investment.

    Also, governments must be more demanding of the financial sector when asked to rescue firms from their own misfeasance. Government must place conditions on its assistance. Government must not be shy to put under receivership or outright nationalize firms that imperil a nation’s financial and economic wellbeing. The credible threat of nationalization will deter recklessness.

    Also, wherever there is a widespread financial crisis, rest assured there are widespread financial crimes. Offending executives of financial houses should not be allowed a free pass any more than a bank robber is given one. For the actions of the one man are akin to the misconduct of the other. Also, a government bailout of these firms should mean that top executives at least experience a significant reduction in compensation even when not guilty of any criminality. They should not receive full pay for job so terribly done that they require government rescue.

    Much more importantly, governments must rely heavily on fiscal policy to jumpstart the flagging real economy. First and foremost, government must shed itself of the fallacy of the need for a balanced or surplus budget. During the gold standard, this objective made sense. But the gold standard is extinct. Government chasing a balanced or surplus budget is no more intelligent than a modern hunter setting of on an expedition to bag a saber-tooth tiger. Whatever fun he may have along the way, he shall never achieve his primary objective.

    Under the fiat money regime, a national government has the unique, unlimited ability to create money. This is not an open door to license and spendthrift. Government must use this tool wisely. To create too much money or invest it on unproductive endeavors, will invite damaging inflation or worse. However, not to use this great facility to do good would be a tragic disservice to the people. Government should use this ability to build modern infrastructure that enhances growth and productivity and encourages private investment. Government can and should assure the poor the basics of life so that none live in abject poverty. Again, it must take these policy initiative with a watchful eye on inflation. Government can spend only to the extent that it does not substantially exceed society’s inflationary expectations.

    The fiat system also means government tax policy should change; a national government that creates its own money no longer needs tax revenues to fund its operations. Taxation should be used to discourage or encourage certain economic behavior or to redistribute income so that one segment of society does not become too powerful or rich and another too weak and poor. Taxation also could be used to subtract money from the private sector if we fear a private sector overheating. However, as a general rule, government should be careful with tax policy because of the general principle that taxes reduces private-sector holdings and wealth while our chief objective is to increase private-sector wealth.

    Governments also must mind the foreign loans they incur. Borrowing money in foreign currency may be necessary at times. It should only be done as a necessity because it abridges national sovereignty and beckons harmful inflation and currency devaluation in the long-run.

    I wanted to end this series with this article.  However, I think it might be beneficial to spend a bit more time on the fiscal implications of the fiat currency system. We shall continue in that vein next week. Hopefully, the message of this piece will stay with you until next week and beyond. The fiat system has been used heretofore to enlarge the financial sector at our expense. Now it is time to use that same system to benefit society at large while reducing the size, influence and threat of Money Power to the collective pursuit of our daily bread.

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