Innovative businesses and start-ups in Nigeria and other parts of Africa will benefit from better access to risk capital thanks to a $30 million equity investment by EIB Global in the Seedstars Africa Ventures I venture capital fund.
Increased access to capital will allow companies to grow, creating skilled jobs and improving products and services for businesses and consumers. The fund will invest in companies developing and implementing digital technologies, in particular those addressing basic needs such as education, healthcare and utilities or enhancing goods, services and value-chain efficiency.
EIB Vice-President Ambroise Fayolle said: “Encouraging and promoting innovation and digitalisation is crucial to developing strong and sustainable economies. African entrepreneurs hold the key to the continent’s future, creating jobs, reducing inequality and improving quality of life. The EIB, as part of Team Europe, is committed to supporting African businesses, and we are proud of the success of Boost Africa and the ACP Trust Fund.”
Seedstars Africa Ventures I was created by Maxime Bouan, Tamim El Zein and Bruce Nsereko Lule in partnership with Seedstars, a global organization that invests and supports entrepreneurs from emerging markets, and LBO France, a multi-country multi-specialist investment platform that seeded the initiative and provided a material anchoring commitment, +30 years’ investment experience in small and venture companies and environmental, social and governance (ESG) expertise.
The Nairobi and Paris-based team said “the anchoring ticket provided by the European Investment Bank is a testament to our investment thesis and the work we do across Africa. It signals the relevance of our positioning as well as the effectiveness of our support to portfolio companies. This recognition will further help us onboard both African and foreign investors in the Fund to reach our $80million to $100 million target size.”
Chairman, LBO France,Robert Daussun, and Chief Executive, LBO France, Stéphanie Casciola, stated, “Identifying areas with high growth potential is at the heart of LBO France’s strategy, and we have been reinforcing our position in Africa by targeting highly dynamic sectors and supporting disruptive entrepreneurs. Our commitment to Seedstars Africa Ventures is part of our strategy to offer a range of diversified alternative assets to our investors and allow them to participate in Africa’s growth story, with a strong ESG ambition. Similarly, we took in 2023 a majority position in CGF Bourse, a brokerage and asset management firm headquartered in Dakar and we are also the majority shareholder in Joliba Capital, a private equity fund based in Abidjan and focused on francophone Africa.
“The digital sector is a key driver of growth and innovation. Small and medium-sized enterprises, together with start-ups, are fueling the digital economy. Kenyan and African digital economies have tremendous potential and helping entrepreneurs access finance can be a game changer to foster quality growth and Public jobs, a common priority for both the EU and our African partners.”
With Global Gateway, the EU is investing in Africa’s digital transformation and helping provide the right conditions for digital economies to thrive – as demonstrated with the recent digital economy package in Kenya,” said European Commission Vice President Margaritis Schinas.
Venture capital investments reached $4.8 billion in Africa in 2022, a +270per cent increase from the $1.3 billion invested in 20191. Despite this tremendous growth, a significant equity gap continues to exist at the early stages of funding on the continent, calling for more investors in the space. Seedstars Africa Ventures invests in Seed+ and Series A rounds, with an ability to follow-on significantly, effectively bridging the pools of capital available.
Nigeria has signed a Memorandum of Understanding (MoU) with the Saudi Arabian authorities toward the smooth conduct of the 2024 Hajj.
Mrs. Fatima Sanda-Usara, the Assistant Director, Public Affairs, National Hajj Commission of Nigeria (NAHCON), said this in a statement on Sunday in Abuja.
Nigeria, under the National Hajj Commission of Nigeria (NAHCON), solidified its commitment to a seamless Hajj by signing the 2024 (1445AH) Hajj Memorandum of Understanding with the Saudi Ministry of Hajj and Umrah.
Nigeria was represented at the signing of the MoU in Jeddah, Saudi Arabia, by top government officials, including Foreign Affairs Minister Yusuf Tuggar and NAHCON Acting Chairman Malam Jalal Arabi.
The host contingent was led by the Saudi Arabian Minister of Hajj and Umrah, Dr. Taufiq Al-Rabiah, Mrs. Sanda-Usara said, that prior to the signing of the MoU, the two ministers held brief discussions where Nigeria requested for a lasting solution to the shortage of tents in Muna.
She also said that the Nigerian government also pressed for more favourable terms for the country’s carriers during transportation of pilgrims for the holy pilgrimage.
The director said that the Nigerian team also invited the Saudi Minister of Hajj and Umrah for a visit to the country.
Mrs. Sanda-Usara quoted the Saudi Minister as acknowledging the challenge of space in Muna and assuring that efforts were being made to maximise the use of the available two million square metres for the over two million pilgrims that performing Hajj annually.
She expressed the ministry’s support for all measures aimed at giving pilgrims the best services and accepted to visit Nigeria soon.
Other participants at the meeting, included the Nigerian Consul-General in Jeddah, Malam Bello Kazaure, senior officers from the Nigerian Mission in Saudi Arabia and NAHCON.
The Saudi Arabian Ministry for Hajj and Umrah had allocated 95,000 Hajj slots to Nigeria for the 2024 holy pilgrimage.
The X app has been showing favour and financial blessings to a woman identified as ‘MumZee’ and by extension, her husband known as Abiola Adebisi.
The Nigerian lady whose real name is Olaki Jasmine Loveth, went viral after she shared on X that she began waking up at 4.50 am to cook for her husband, sparking both praise and criticism.
Despite the controversies in the post, a large number of X users have generously donated over N5 million to Debbie, with fellow Nigerians extending various gifts.
Fintech Company Kuda has promised to match the initial N2m donation, meaning that Adebisi may end up with over N10m in donations.
Infinix Nigeria offered the couple its latest device, Infinix Hot 40, while the Nigerian National Petroleum Company Limited provided a free N200,000 PMS voucher.
Adding to the support, the National Information Development Agency pledged two laptops and a one-year internet subscription for Debbie and her husband.
Abiola Adebisi, expressing gratitude on his X page, stated: “I bless the day I met this woman.” Describing his wife as a prayer warrior, he added, “She can pray. My god in human form.”
Prof Abel Ogunwale is an Agricultural Extension Services expert and consultant to the World Bank. In this interview with Ibrahim Apekhade Yusuf, the Senior Faculty Head at the Ladoke Akintola University of Technology (LAUTECH) shares insights on how to prevent imminent food insecurity in Nigeria. Excerpts:
From available information, Nigeria is not totally immune to food insecurity. The fears in some quarters is that Nigeria just like it happened in the distant past, may suffer food insecurity if nothing is done to safeguard the states within the nation’s food basket from lingering insecurity, menace of flooding, poor infrastructure, etcetera. This is in spite of the several interventions by successive governments, especially in the last 20 years or more. Do you share such sentiments?
I appreciate the historical perspective to which you have looked into it and if I may summarise, we have major problems hindering our food security from four perspectives. One is the issue of security threats vis-à-vis the situation in Benue, Zamfara, Jigawa, Borno, Adamawa axis and even the borderline between Nigeria and Cameroon and the other aspect is the Nigeria and Niger Republic issue. The insecurity is as a result of the Boko Haram insurgency in those areas and even in Kaduna, Niger states, we have a lot of insurgency activities affecting those areas. The second challenge, of course, is the issue of climate change. Climate change has resulted in flooding, and some devastation on the farming system. There is also the issue of policy somersaults. You can see how inconsistencies of government policies have seriously and negatively impacted our farming generally. The last factor is the weak agricultural services. These are the four areas. If the government can look into each of them, and take proactive measures against next year, we may avert serious food insecurity in Nigeria.
Can you be specific on what the government needs to do in order to tackle these challenges in the agric sector?
Take for instance the agricultural extension service. Unfortunately, most of the states in Nigeria today don’t have viable agricultural extension services. For instance, the Agricultural Development Programmes (ADPs) are not well-funded. The ADPs are the primary custodians of the agricultural extension system in Nigeria. So, once there is a weak agricultural extension system, the majority of the small scale farmers that are producing foods that are being consumed in Nigeria today don’t have access to effective agricultural extension services. So the government needs to look at that at the national level, at the state level and the local government level respectively. Frankly speaking, the three arms of government should get involved in agricultural extension services for farmers in each of their areas of jurisdictions. Time was when there used to be Agriculture Department in local governments. But if you go to any local government secretariat today, you don’t have anything like that again. This is because the belief of many politicians is that they cannot labour for somebody else to come and harvest the proceeds. For instance, agricultural production requires some gestation periods; it needs time investment, money, and lots of effort and before you know it you may not spend much time in office and somebody else will come and take over. Therefore, many of our politicians are very parochial in their thinking so they never want to invest in agriculture. So, year in year out we have the same situation, poor growth in the agriculture sector even at the grassroots level.
In terms of climate change, I can say for certain that this has become a real factor today in Nigeria. But unfortunately, we are not prepared or not being sincere with ourselves on how to tackle this particular challenge. The government needs to come up with a smart agricultural system which will intensify training in agricultural responses and agricultural smart programmes. There are lots of agricultural systems that one can do to mitigate the effects of climate change in the rural area. But unfortunately, nobody is trying to structure those programmes to assist, educate and to enlighten the farmer on how they can mitigate the effects of climate change on their farming system. Frankly speaking, we need to build up the capacity of our local farmers to be able to adapt to smart agricultural practices that are responsive to climate change.
When you talk about policy somersaults, you will agree with me that the agricultural sector has suffered a lot of policy inconsistencies and that is unfair on the part of the farmers. Sometimes, the government will come with a policy and the farmers will take time to adjust to such policies and by the time they are ready to adopt the policy the government sadly, changes the policy again. So, there are a lot of policy inconsistencies. Therefore the government needs to look into this area and come up with a policy that will be sustainable and available such that farmers themselves and other agricultural stakeholders will be able to predict that at least for three years what’s going to happen as per agricultural production system in one particular area or the other. So, there is a need for stability in policy. My advice for the government is that they should come up with a viral agricultural extension system that will be responsive to the local farmers’ needs and production constraints.
In terms of policy, the government should come up with policies that will be sustainable in the country for at least five years. They should be able to ensure the stability of the policy in such a way that farmers will know the way the government is going and be able to follow suit. If we allow that, the farmers would be able to predict what to produce, how to produce because all these things are determined by the policy of the government. The moment there is instability in the policy, farmers will not know what to do. So there should be a call for policy stability and that calls for people who are versed in the area of agriculture management to take up that responsibility both at the federal and state government level.
The last point is about the issue of insecurity. You will agree with me that Benue State happens to be the food basket of the nation, put politics aside. But many farmers are no longer going to farms in those areas because they are afraid. It’s the same thing in Zamfara because of the insecurity issue. Security is the primary function of the government both at the federal and state levels.
Still talking about insecurity, there are fears that persons from neighbouring Africans coming into the country sometimes perpetuate havoc leading to insecurity, especially across the northern part of the country. What should be done to address this drift?
As I said earlier, security is the primary function of the government both at the federal and state levels. In that way the government needs to come up with policies and empower our immigration service to flush out the foreigners that don’t have valid documents to come to Nigeria to do farming business. There are lots of areas where the foreigners are coming in droves within the country, especially in the northern part of the country. And once they come in like this they mingled with the nationals and began to perpetuate atrocities. The government needs to come up with a policy that will checkmate the excessive influx of foreigners, especially from the northern part of Nigeria. We need to sit down and think seriously about what we need to do to avert further insecurity because farmers are no longer safe on the farms. The few ones still going to the farms are afraid for their lives. And let me tell you this, the farmers will be on their farms, most of their families reside outside those places. In Niger state presently, there are some local government areas where farmers are no longer safe because of insecurity. And once the farmers are no longer farming, where do you expect to get food? That’s why we resort to food importation and that will not help us. Food importation is not the solution to our local food production problem; it’s just a temporary measure. For as long as we continue to import food in Nigeria, we will be dependent on other countries’ production systems. That is unfair.
There is also the issue of perennial flooding that affects the fortunes of farmers year in year out. How best should this be tackled?
I agree with you that the problem of flooding is a very serious issue being faced by our farmers. Indeed, flooding is a very big issue especially in the northern part of the country today. Flooding in Niger state, Benue, Nasarawa state is a very serious issue. The federal government should construct more dams to checkmate the effect of overflows to Benue and Niger River basins. Once we have more dams, it will reduce the effect of flooding also in Rivers state and Bayelsa state too. There must be more dams uplands then this will reduce the rate of runoffs that will go and destroy the farmlands. These are the issues the government needs to look into and I pray God will help us.
You mentioned the fact that the local government once had an Agric Department but that is no more. Interestingly, the VP Kazeem Shetima hinted that the government hopes to convert some of the Government Reserves areas across the states of the federation to farmlands. Do you think this is the right step in the right direction?
That will not solve the problem. You see government reserves have a purpose. There are more or less game reserves. If we are so serious they can be a source of income generation for the government. Look at Kenya; it doesn’t have oil but they have a lot of game reserves. I have been to Kenya four times, and I’m aware they generate a lot of foreign exchange from game reserves. So, I will not subscribe to that. That’s part of policy somersaults. You cannot kill one sector to build up another. No. game reserves should be preserved. All they need to do is to flush out all these bandits out of all our Game reserves. Bandits are using Game Reserves as hideouts and that is a security challenge. If you are going from Jebba now to Niger state, to Kaduna, by the time you pass through Kagara, you find out
So, the government should look into those areas and flush out the bandits out of those places. You can generate income even hard currencies from game reserves.
Still talking about policy somersaults, it may be recalled that during the last regime the government designed the Anchor Borrowers programme to assist farmers across the country but from available information most of those who were supposed to benefit from it didn’t do so due to the endemic problem of corruption in the system…
(Cuts in) you see the Anchor Borrowers is a very good scheme. However, the people operating the scheme used it to syphon government funds. There is a high rate of corruption. Look at the Central Bank of Nigeria (CBN), for instance. The truth of the matter is that corruption has become really endemic in our agriculture system and it also cuts across all systems. If you have to carry out a case study of the Anchor Borrowers scheme, you will find out that corruption killed the lofty idea of that project.
Since Nigeria is a star gold medal winner in prayers and celebrated spirituality, I think this intervention should be a special focus on the rational prayers for Nigeria. In trying to take up this special task however, my attention was drawn to a verse in the Christian Holy Book: ‘You ask and receive not, because you asked amiss, that you may consume it upon your lusts’ (James 4:3). Thus, the first prayer is that Nigerians would not continue to pray amiss.
First and foremost, it appears as if Nigerians are no longer interested in whether or not there are saboteurs or how many there are in Bola Tinubu’s government. They do not pray for a repeat of the Muhammadu Buhari era in which, even as a military General, his government was ‘hijacked by a cabal.’ In their view, that ought to have ended on May 28, 2023. So, it behooves the president to not wait until faulty impressions are formed about his government before proving that he means well for the country. Tinubu shouldn’t be seen as lacking in empathy, or having lost empathy with the people. Already, that impression is gaining traction and he needs to wake up before it snowballs into something else.
With the current situation of things, ours looks like a country afflicted, with weak institutions as one of its settled political imperatives. There is bleeding in every sector, with the economy suffering a lot of leakages. The country is gradually becoming unlivable, with poverty becoming not only a new normal but also making life miserable for the people. The tragedy of our economic theories is that they work in contrast to economic realities. Or what type of economic policy is it that the only option left for the poor is suicide?
When the naira redesign policy gave birth to unlooked-for effects and widespread chaos some months back, with the scarcity of naira notes as one of its many consequences, Nigerians were quick to heap the blame – and, rightly, too – on Godwin Emefiele who at the time was the Governor of the Central Bank of Nigeria (CBN). Now, Emefiele is out of the loop but the problem seems to have resurfaced even in a more threatening form.
Not long after this government came on board, Vice President Kashim Shettima vowed that insecurity would soon become a thing of the past because “President Tinubu, in the next couple of weeks, will unveil the ‘Fulaku’ solution, which will address the grievances and the exclusion of our Fulani cousins in the North West.” That was on July 16, 2023. Today is January 6, 2024. ‘Fulaku Solution’ is yet to be unveiled. So, nothing has changed. As a matter of fact, Nigerians are of the view that the situation is gradually getting out of control. Only on Christmas Eve, Fulani militia attack on some communities in Plateau State left no fewer than 200 people dead, with the terrorists vowing to return. So, if Fulaku is taking too long to feature, why can’t the president come up with a temporary strategy that can, in the least, make Nigerians sleep with their eyes half-closed? Isn’t the situation, as it is, killing?
The 3rd American president, Thomas Jefferson, once said: “I am a great believer in luck, and I find the harder I work, the more I have of it” On a day like this, Dear God, we remember our leaders, help them to know that their purposes are to be leaders, and not bosses. Give them the sense of reasoning to know that they need not keep disturbing the Hosts of Heaven to come down to do those things You have already empowered them to do. In this New Year 2024, grant our lawful weapon handlers the wisdom to understand that the major function of their weapons is for legitimate defence, not to become exploiters and licensed terrorists.
Our Father in heaven, Nigerians are eagerly waiting for the time the price of the premium motor spirit, pms, will smile on them. Even when our border posts remain temptingly porous and the same set of Nigerians continue to man them, bless our beloved president with the wisdom to listen more to the mass of the people than those whose voices have already been heard and save our land from the conflict merchants who recklessly expand our national frontlines for political and economic benefits.
Mere clappers don’t engage in serious political activities. If at all they do, it is just for the peculiarities, the conspiracies and the complexities of filling their stomachs; and once that’s achieved, status quo ante bellum returns! From Lagos to Cross River, and from Ekiti to Adamawa, arise and grant our leaders the wisdom to know that poverty fuels rumours, and that rumours are harbingers of violence and unrest.
Mighty Creator, we also remember Your influence on the life of Joseph. On a single day, his name changed. His story changed. His status changed. Even his friends changed. We beseech Thee, O Lord, let there be no more fruitless efforts! Let there be no more labour loss! And let there be no more epileptic glory in our lives! In their stead, deepen our blessings beyond the capacity of our storehouses. Blot out emptiness from our lives and let the glory that’s on the wheelchair begin to speak out so that the world can glorify Your name through us!
Jehovah Nissi, You didn’t create us to be independent but to be dependent on You for our daily bread, protection and the fulfillment of Your purpose and vision. Even as we continue to fight over the distribution of two loaves and five fishes, unaware of the turn of events globally, help us to break the yoke of the life of struggle. Rescue every injured destiny and bring to limelight every hidden fortune! When trouble comes, give us strength to have Heaven on our side and command all the crooked places to be straightened. Show us our purpose and take us up out of every valley of deceit and defeat. You, who own all of the creation, are too consistent to leave us hanging or stranded. In all things, let Your angels of war engage every principality and power and bring down the kingdom of the rulers of darkness in our nation. We pray for the vision that has the capacity, resilience and determination that’ll make us not only trailblazers but also dream-achievers for Your world and Your people.
A man who has no reason to live will not fear how to die! Jehovah Elohim, teach us to know that You are not interested in giving us huge punishments for our behavior. Had You wanted it that way, You’d not have given Christ to the world to be killed; and there’d have been nobody to question Your authority because You’re God Almighty. So, give Your humble peasants the ability to exercise the powers of our fingers to vote out any agent of affliction from the top to the bottom, and not to be manipulated by two Derica of rice and one or two days’ pot of soup.
At a time like this, we want to use Leah Sharibu and the over-100 Chibok girls as points of contact for others who are still languishing in the terrorists’ den. Our Lord, the Helper of the helpless, rekindle their parents’ hope in You. Bring their children back alive and Nigerians will glorify Your name!
Finally, as days turn into weeks, and weeks into months, let the life and times of Obed-Edom the Gittite (1 Chronicles 13: 12-14) be a source of hope for determined minds.
May the Lamb of God, who takes away the sin of the world, grant them peace in Nigeria!
The Nigerian Association of Manitoba has expressed its sadness over the death of Afolabi Stephen, a 19-year-old Nigerian student, who was shot dead by Canadian policemen on December 31, 2023.
The Winnipeg Police Service said that its officers reacted to “a 911 call regarding a male acting erratically” in a statement posted on its website, winnipeg.ca.
The statement read: “On December 31, 2023, at approximately 2:22 pm, the Winnipeg Police Service responded to an apartment suite in the first 100 block of University Crescent for a 911 call regarding a male acting erratically. The caller advised the male may be armed, and there were other people in the suite.
“Upon police arrival, they were confronted by an armed male. During this encounter, an officer discharged his firearm, striking the male. Officers provided immediate medical care and ensured the well-being of all other parties on the scene. Nobody else was injured.
“The male was transported to the hospital in critical condition and succumbed to his injuries.”
In a statement released by Vera Obehi Keyede, president of the Nigerian Association of Manitoba (NAMI), the organization expressed grief at Afolabi’s passing and urged patience while the inquiry is still underway.
The statement read: “The Nigerian Association of Manitoba wishes to express her deepest concern and regret over the unfortunate incident involving the shooting that led to the death of a Nigerian international student, by the Winnipeg Police Service on the 31st of December 2023.
“We extend our condolences to the deceased family and friends. We understand the anxiety, frustration, sadness, and distress this incident has caused within our community. We plead with everyone not to engage in any activity that may cause any tension or hinder the process of investigation and the law.
“This is a challenging time for all of us, we need the Nigerian community to remain calm and composed as investigations are underway. We acknowledge the community’s right to seek answers and justice for one of our own. NAMI is closely monitoring the situation and seeking guidance on how to proceed.
“NAMI will continue to provide updates as more information becomes available to us. We extend our support to those directly or indirectly affected by this unfortunate incident, and we cannot over-emphasise the need for solidarity during these challenging times.”
Despite its status as a major producer of exportable mineral and agro raw materials, Nigeria grapples with the paradox of exporting these resources in their raw form, devoid of significant value addition that can propel industrialisation, economic diversification, and, ultimately, elevate revenue generation and employment opportunities. This approach results in the loss of employment opportunities and deprives the nation of potentially billions of dollars that could be gained by processing these resources into semi-finished or finished goods for export. Assistant Editor CHIKODI OKEREOCHA explores the consequences, including job losses and missed economic opportunities, prompting calls for government to address the high-cost environment that renders processing unprofitable and invest in processing facilities to reverse this disheartening trend
Nothing better illustrates the sad tale of Nigeria’s bumpy road to achieving sustainable industrialisation and economic diversification than the perplexing paradox in her non-oil export business where, despite parading generous exportable mineral and agro raw materials, they are being exported in their raw form, with minimal or no value addition. Take cocoa, one of the highly sought-after cash crops in terms of export value, for instance, and the depressing reality of Nigeria’s wobbling non-oil export enterprise forced by lack of value addition comes into bold relief. Nigeria, according to the United Nations Food and Agriculture Organisation (FAO), is world’s sixth largest cocoa producer, behind Cameroun, Brazil, Indonesia, Ghana, and Ivory Coast.
But, out of Nigeria’s total production volume of 248, 000 tonnes of cocoa beans, only 30 per cent is processed into cocoa derivatives such as cocoa powder, cocoa butter, and cocoa paste; the remaining 70 per cent is exported without processing. Yet, the processing of cocoa into cocoa derivatives, according to industry experts, is the highest value adding activity in the cocoa value chain.
It has the potential to generate significant export revenues both to the government and cocoa farmers. For instance, at the last count, the Nigerian Export-Import Bank (NEXIM) put the global value of raw cocoa export at $10 billion, while the total value of all finished goods from cocoa was $200 billion annually, with chocolates alone accounting for half of that market value, i.e. $100 billion.
Sadly, however, Nigeria, despite being ranked world’s sixth largest cocoa producer, is currently in no position to claim a chunk of this huge market share. Africa’s third largest cocoa producer does not boast a vibrant chocolate industry to process cocoa into chocolate and other finished products. Curiously, The Netherlands, a non-cocoa producer, has one of the largest cocoa producing industries in the world. The processing and exportation of cocoa derivatives generated $4.2 billion for the Dutch economy in 2016, for instance. In comparison, Nigeria, which ought to have been a global powerhouse in cocoa processing and export, generated only $144 million from the exportation of cocoa derivatives to neighbouring countries like Ivory Coast, Cameroun and Ghana.
A recent report by multinational professional services company PricewaterhouseCoopers (PwC), titled “Transforming Nigeria’s Agricultural Value Chain: A Case Study of the Cocoa and Dairy Industries,” ranked The Netherlands as the third largest exporter of chocolate in Europe. The report, which was made available to The Nation, listed The Netherlands, Germany, Indonesia, Malaysia and Belgium as major export destinations for Nigeria’s fermented cocoa beans.
The report pointed out that in 2018, The Netherlands imported N30.3 billion worth of fermented cocoa beans from Nigeria. This figure, according to the report, surpassed the combined two-year export value of the other top four importers, noting that the significant cocoa demand from The Netherlands is driven by the boom in that country’s chocolate market fueled by increased popularity of specialty chocolates.
Even Switzerland, which is also one of the largest producers of chocolate globally, with estimated 180,000 tons of chocolate per year, earns around $1.5 billion from the cash crop. Switzerland also relies on African countries like Ghana and Ivory Coast to get its major raw material which is cocoa. However, Nigeria’s embarrassingly woeful outing in the non-oil export business, where her inability to add value to her exportable agro and mineral raw materials is not limited to cocoa. There is also sesame seed, another cash cow, literarily, and is second to cocoa in terms of export value. Nigeria is Africa’s second largest producer of sesame seeds after Sudan.
Sudan’s output in 2019, for instance, was 11.2 million tonnes. The country alone accounts for 45.8 per cent of the total output of the top six African countries put together. Nigeria’s output makes up 18.2 per cent of the total, making her Africa’s second-largest sesame producer. In the first quarter of 2018, sesame was Nigeria’s most exported non-oil commodity, contributing 0.57 per cent to the total export value and 36.39 per cent of agricultural exports.
Again, sadly, the snag is that about 95 per cent of sesame output in Nigeria is exported for processing, according to the Nigerian Institute of Food Science and Technology. In the Institute’s reckoning, if Nigeria had the facility to process even half of the 90 –95 per cent exported sesame seed, the country would have reaped bountifully from its several derivatives both in terms of revenue earning and job creation across the product’s value chain.
Sesame seed is used in confectionery, biscuits, and in bread making. Also, oil extracts from sesame seeds have a wide range of applications. It is used for cooking, used in medicine for treating ulcers and burns, used in making aerosols, and in manufacturing margarine. The low-grade oil of sesame is also used locally in manufacturing soap, paints, lubricants, and illuminants.
The by-product from processing sesame seed is also used in making animal feeds. Sesame is also used in different countries for their local dishes and delicacies, and this must be why the market for sesame seeds is quite vast, with Japan and China as the major importers. Had Nigeria latch on her natural endowment in sesame, where about 26 states across the country are said to be blessed with this cash crop, the quantum of revenue accruing to these states, the farmers and other operators across its value chain would have been huge, so also the number of jobs that would have been created from the upsurge in processing activities.
The Nation learnt that apart from Jigawa State that has the highest area of production and total production of sesame in the country, followed by Benue State, other states in the sesame seed belt include Adamawa, Bauchi, Benue, Borno, Gombe, Kaduna, Kano, Katsina, Kebbi, Kogi, Nassarawa, Niger, Plateau, Sokoto, Taraba, Yobe, and Abuja.
The situation in the solid minerals sector is probably more heart-wrenching. Nigeria is endowed with over 44 strategic solid minerals in about 450 locations across the country. This puts her mining sector in a vantage position to dislodge oil as major revenue earner and economic diversification driver to create jobs and significantly cut down Foreign Exchange (forex) spending.
The Minister of Solid Minerals Development, Dr. Dele Alake, put the country’s mining sector’s huge but largely untapped potential in perspective when, on the sideline of the United Nations General Assembly (UNGA) held in New York, towards the end of last year, he told investors that Nigeria’s minerals deposit was worth $700 billion. Apparently encouraged by what is arguably, Nigeria’s goldmine and next ‘crude oil’, Dr. Alake boasted that Nigeria, despite being behind some African countries in mining, had the potential to take the lead soon based on the over 44 assorted solid minerals in all the 774 local government areas of the 36 States and the Federal Capital Territory (FCT), Abuja.
The Minister also buoyed the hopes of a possible rebound of the mining sector when, in his New Year message to Nigerians, he said the sector will experience a major leap this year. A statement by his Special Assistant on Media, Segun Tomori, quoted the Minister of reiterating that President Bola Tinubu’s vision of diversifying the economy through renewed focus on solid minerals was on course. Some of the 44 solid minerals upon which Dr. Alake anchored his excitement over the prospects of repositioning Nigeria as Africa’s mining destination, and assuring that his ministry would contribute substantially to the nation’s GDP, include coal, limestone, lead/zinc, bitumen, barite, gold, iron ore, tantalite, tin, columbite, barites, gypsum, sapphire, emerald, granite tourmaline, sandstone etc.
But unless and until President Tinubu and Dr. Alake make good their promise to halt the exportation of these raw solid minerals without any value addition, their hope of positioning Nigeria to take the lead in mining in Africa, including latching on reforms to force the sector to “yield tremendous results in the new year,” according to industry experts and operators, remain what it is: wishful thinking.
Recall that President Tinubu had at the ‘Nigeria Mining Week’ held towards the end of last year, declared that the era of exportation of raw minerals and similar resources from the county was over. In other words, the policy of value addition has come to stay. He also expressed his administration’s commitment to making solid minerals rival oil in revenue generation and foreign exchange earnings for the country.
The Nigeria Mining Week is an annual event that brings together stakeholders in the mining industry, including policy makers, investors, operators, service providers, academics and civil society with the aim of showcasing the potential and opportunities in the mining sector and foster collaboration and partnerships for its growth and development. The event was yet another reminder of the sorry state of Nigeria’s mining sector where much of her mineral commodities are at present illegally mined and exported in crude form to European and Asian countries at give-away prices, without any value addition, to the disadvantage of the national economy.
Indeed, about 80 per cent of mining activities in the country are said to be illegal, depriving the various tiers of government of billions of Naira in supposed royalties annually. Between 2016 and 2018 alone, Nigeria reportedly lost about N353 billion in gold alone smuggled out of the country and sold in the international market without any revenue accruing to the government.
Within the three-year period, about 18 tons of gold were smuggled out of the country. The former Minister of Mines and Steel Development, Arch. Olamilekan Adegbite, brought the reality of Nigeria’s thriving illegal mining enterprise nearer home when he said illegal miners operate in about 1,759 mining sites across the country.
Illegal mining thrives in six states including Niger, Plateau, Zamfara, Ebonyi, Enugu and Imo. According to a report by the Nigeria Extractive Industries Transparency Initiative (NEITI) titled: “Improving Transparency and Governance for Value Optimisation in Nigeria’s Mining Sector,” Niger and Plateau states topped the illegal mining list; while Niger State had 10 illegal mining sites, Plateau had seven.
The illegal miners, allegedly with their foreign collaborators, have been pillaging the nation’s solid mineral commonwealth, much to the chagrin of the Federal Government, the Ministry and Nigerians generally. However, if the current administration walks its talk on prioritizing value addition by pulling the breaks on the exportation of solid minerals, it means a push back on the thriving illegal mining industry.
It also means, by extension, brighter chances of the ministry, under Alake’s charge, of making good its target of adding at least 50 per cent to the economy, including attracting Foreign Direct Investment (FDI) to the country. And more importantly, hopes of meeting Nigeria’s target of leveraging mining to earn forex, create jobs and boost the sector’s contribution to GDP to three per cent by 2025 will be brighter.
Why operators, investors shun local processing
The Nigeria Export Promotion Council (NEPC), which is in charge of promoting non-oil exports, has been quite vociferous in its position that local raw materials in their natural forms do not have any value and would not attract any market demand hence, there is need to process them to meet internationally accepted quality and standards for use by manufacturers and for export.
However, because of lack of access to capital to set up processing facilities, process technology and techniques, and spare parts, including poor infrastructure particularly electricity supply, among others, existing and prospective operators and investors who would have thrown their hats in the raw materials processing ring as canvassed by the NEPC and other stakeholders have continued to hold back.
The Nation learnt that because of the capital intensive nature of establishing and running local processing plants, including regular supply of the raw materials and the challenge of marketability viz-a-viz imported products, manufacturers are focused on proceeds they get from exporting the raw materials.
Some of them who ventured into processing, even without any incentives by government, were said to have got their fingers burnt because of the prevailing high cost environment. The thing is that Nigeria’s high cost business environment foisted on processors, largely as a result of poor electricity supply and other binding constraints such as lack of access to finance, makes processing a highly unprofitable venture.
However, by by-passing value addition to these products because of the afore-mentioned issues, both the government and operators are losing billions of dollars in export revenue including jobs.
This must be why the Senior Partner of KPMG Nigeria, an audit, tax and advisory services provider, Mr. Kunle Elebute, said Nigeria and other African countries are simply the domain for the global economy to take out commodities and process, and their lack of capacity for processing and manufacturing results into poor export receipt laced with uncompetitive ability.
Elebute, who was former Chairman, KPMG Africa, therefore, advised that African countries adopt value addition practices as this will enhance the competitiveness of their products while boosting regional trade activities and reducing reliance on imports from foreign countries.
The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, could not agree less on the need to prioritize value addition on exports, pointing out that it is one sure way to reduce Nigeria’s over-dependence on importation and also boost her competitiveness, among others.
“By focusing on value addition and local sourcing, we can reduce our reliance on imported raw materials and improve the overall competitiveness of our products. This will also contribute to the growth of Small and Medium-sized Enterprises (SMEs) and empower local entrepreneurs to participate actively in the manufacturing value chain,” she said.
The Minister spoke at the opening ceremony of the 7th edition of the Nigeria Manufacturing Equipment Expo (NME Expo) co-located with the 9th Nigeria Raw Materials Exposition (NIRAM Expo), which held in November last year, with the theme, “Future Manufacturing: Building a Sustainable Roadmap to the Industrialisation of Nigeria.”
At the NME-NIRAM Expo organised by MAN and Raw Materials Research and Development Council (RMRDC), she stated that the future of manufacturing in Nigeria, among other things, relies on prioritizing the development of the raw materials sector to support the nation’s manufacturing industry, assuring that the Federal Government, through her ministry, was dedicated to fostering a conducive environment for manufacturers to flourish. “Our commitment extends to the implementation of policies and programs that facilitate ease of doing business, improve access to finance for manufacturers, and enhance infrastructure and logistics to bolster the growth of the manufacturing sector,” Dr. Uzoka-Anite said.
For Manufacturers Association of Nigeria (MAN), incentivizing investment in the development of raw-materials locally through backward integration and resource-based industrialisation is the way to go to improve the performance of the manufacturing sector. At the core of the Federal Government’s Backward Integration Policy (BIP) is the need to create a competitive supply value chain and reduce dependence on imported raw materials. Resource-based industrialization, on the other hand, is the utilisation of the country’s abundant natural resources in producing goods needed in the country.
The Project Manager, Strategy Implementation Task Unit (SITU), Raw Materials Research and Development Council (RMRDC), Sir Henry Chukwudi Eteama, said converting raw materials into something more useful through added value increases the price of finished products, making manufacturing a very profitable part of the business chain.
Delivering a paper titled ‘The Future of Manufacturing and Strategies for Global Competitiveness in Raw Materials and Products Development in Nigeria’ at the NME-NIRAM Expo, Eteama, however, said challenges to local sourcing of raw material abound and cannot be taken lightly as major hindrance to sustainable industrialisation. He listed some of them to include but not limited to very high propensity among Nigerian industries and business for consumption/utilization of foreign raw materials and product; emphasis on oil and gas to the detriment of development of agriculture and geo-extractive/mining sectors and businesses.
Others are lack of synergy and strategic alliances between industries/business in Nigeria and the academia/Research and Development (R&D) institutions in the identification, exhortation, value addition and adaptation of raw materials and products of Nigeria; poor technological and scientific know-how required to engage in fruitful and profitable development of available raw material potential in Nigeria.
The Project Manager at RMRDC also decried the inadequate fiscal policy measure for protection of local businesses engaged in local sourcing of raw materials; lack of incentive to business and researchers who venture into local production and development of raw materials; increasing insecurity in the several locations where agro and mineral raw materials are sourced especially in the farmlands and mining sites etc. He insisted that all over the world, nations strive towards the zenith of industrialisation for sustainable development and growth by leveraging local sourcing of raw materials for powering their industrial activities in a manner that reduces their needs of foreign raw materials. “We need to lay emphasis on indigenous industrialisation whereby industries and businesses are in strategic alliances with the academia and R&D institutes,” Eteama recommended.
The outgone year, 2023 witnessed significant milestones in the bilateral cooperation between Nigeria and China. The year started off with the inauguration of the Lekki Deep Seaport by former president, Muhammadu Buhari in January. The facility has launched Nigeria as a major maritime hub in the West Africa sub region. The landmark project, an investment of nearly $2 billion is a joint venture between the federal government through the Nigerian Ports Authority, Lagos State government and China Harbour Engineering Company.
Built in a record time of little more than two years (July 2020 – October 2022) despite the pandemic, the project demonstrated China’s usual solemn commitment that neither adversity nor the changing circumstances of the international landscape would vitiate or distract the pragmatic cooperation between Nigeria and China and its tangible outcomes.
Former Nigeria’s Minister of Transportation, Muazu Sambo noted that the seaport “is significant because the largest ships in the world can berth at the port, and that means more tonnage, more cargo, more revenue for the port and added that over 112,000 direct and indirect job’s has been created with the operation of the port while more jobs will be created as the port expands its operation.
It is significant to note that the Lekki deep sea port was built under the framework of the Belt and Road Initiative (BRI), a mechanism of international cooperation featuring among other things, facility connectivity, policy coordination and people to people cooperation.
Nigeria signed to the partnership of the framework in 2018 and under it, a good number of China-funded or assisted projects in Nigeria have not only been scaled up but the paces of implementation and completion have been considerably accelerated.
Following the inauguration of the Lekki deep sea port, the Lagos Mass Transit Blue Rail project was commissioned. The Blue line carrying 400,000 passengers daily will increase its capacity to 700,000 passengers when fully operational. The rail system is expected to bring substantial reductions in travel time along the Mile-2 Marina corridor within the state, with a population of over 20 million residents.
The project, conceived over 40 years ago was dogged with a number of local issues. Its take-off effectively however, began after the project was awarded to a Chinese construction giant, China Civil Engineering Construction Corporation (CCECC) as a design and build contract under the Belt and Road mechanism of cooperation between Nigeria and China. It considerably accelerated in construction and reached a milestone when the Lagos State governor on September 4, 2023 officially opened the Blue rail transit for public use.
The Chinese firm last year also promised to deliver on the completion of the Abuja rail project in eight months. Despite these critical milestones in pragmatic cooperation between two sides, relations and engagements in several sectors have made giant leaps. The Chinese ambassador to Nigeria, Cui Jianchun formula of consolidating the existing cooperation and extending it to new frontiers through a joint mechanism of engagement ; aptly titled “Sharing Chinese Harmony and Performing Nigeria-China Symphony” witnessed extensive and broad cooperation across all sectors with diligent implementation of practical projects.
As part of knowledge sharing in governance and scholarly engagement, President Xi Jinping’s iconic book “ Up and Out of Poverty”, an outline of his practical experience in policy issues regarding mobilization of human and material resources in overcoming the scourges of poverty was translated to Hausa language, one of Nigeria’s major languages. It was launched in Nigeria. The Hausa edition will be followed with translation to other Nigerian languages.
Towards the close of last year in October, Nigeria participated at the 3rd International Forum of the Belt and Road Initiative in Beijing, which was also the 10th anniversary of the initiative. A high level delegation led by the vice president, Kashim Shettima and comprising of eight cabinet ministers and heads of strategic federal government parastatals participated at the Beijing BRI forum, among more than 150 countries and 30 international organizations. The Nigeria delegation was received at the highest level of China’s political authority, with President Xi Jinping assuring Vice President Kashim Shettima of Beijing’s resolve to deepen practical cooperation and generate more tangible outcomes.
At the side meetings of the Nigeria delegations with Chinese enterprises, over $4 billion deals were signed and this year presents unique opportunity for the Nigerian side to follow up on the deals and ensure that they are dutifully implemented.
2024 presents the opportunity to ensure that the huge takeaways and outcomes of Nigeria’s participation at the Belt and Road Forum of International Cooperation last October which amounts to more than $4 billion in investments and more importantly, President Xi Jinping’s pledge to scale up practical cooperation is made real. As many countries in the world look up to China for investments and other economic engagements, Nigeria is enjoined to follow – up on the outcomes of her Interactions at the BRI forum.
The duo of Ambassador Cui Jianchun, Chinese ambassador to Nigeria and Yan Yanqing, Consul General in Lagos are both formidable and reliable bridge at the disposal of Nigeria to access, realize and turn to concrete outcomes the commitments of the two sides from the October forum.
Trade between the sides made impressive gains and has quickly regained its healthy momentum after the pandemic-induced slowdown. According to report, in the first three quarters of 2023, Chinä-Nigeria bilateral trade reached $17.25 billion and China’s imports from Nigeria increased by 22.5 %, making a vital impact in bridging the trade gap between the two sides. The prospects are even brighter this year. Last year in July, Nigeria established a permanent Trade House in Changsha, in China’s Hunan province, the permanent site of China- Africa Trade and Economic Expo, that holds every two years since it was established in 2018.
Nigeria has not only participated in all the editions of the Expos but has been invited to participate in China’s famous Import Expo, where countries across the world leverage to explore the opportunities of the huge Chinese market. These two essentially trade mechanisms among others, through which China has consistently invited Nigeria to explore its huge market, will play the critical roles of supporting the diversification of Nigeria’s economy, a structural transformation that has been so much talked about but with China currently offering the opportunity to shift the gear to real motion.
At the 8th Ministerial Conference of the Forum on China – Africa Cooperation (FOCAC) held in Dakar, Senegal in 2021, the Chinese leader, Xi Jinping not only provided the support for COVID pandemic containment and control but offered a practical outline for post pandemic economic recovery.
Within the broad framework of China-Africa Cooperation, Vision 2035 jointly designed by the two sides, President Xi Jinping is committed to work with the Africa side to implement nine programs within three years from then. Among the programs, the “Trade Promotion” will see China open “green lanes” for African Agricultural exports to China, speed up the inspection and quarantine procedures and further increase the scope of products enjoying zero – tariff treatment … in a bid to reach $300 billion in total imports from Africa in the next three years (2021-2024).
Nigeria should take stock of how far she has utilized this opportunity to promote exports of non-oil sector and possibly explore and trigger relevant policy instruments that would ensure a maximum utilization of this type of trade incentives. The 9th Ministerial Conference or the Summit of the FOCAC process would be held later this year, in China as the venue of the meeting alternate between China and Africa and fresh initiatives are expected to raise the momentum of the cooperation and broaden the scope of its engagement.
At the 3rd Summit of the Belt and Road International Forum, the Chinese leader spoke up about its accomplishments and this is no fluke. Over $1 trillion has already been expended by Beijing across the world in various projects making the Belt and Road Initiative mechanism, a platform with the largest offerings of international public goods in history.
The Chinese leader noted that “Belt and Road Cooperation has progressed from “sketching the outline” to “filling in the details” and “blueprints have been turned into real projects”.
A large number of signature projects and “small yet small”, people-centred programs have been launched and in announcing “eight major steps China will take to support joint pursuit of high – quality Belt and Road Cooperation”, he said among others that “China will promote both signature projects and “Small yet Smart” livelihood programs “.
Since President Bola Tinubu has vowed to make impressive mark on poverty reduction, a cankerworm that both existentially obstructs national development and undermines and threaten democratic construction, it is imperative to study diligently and access the main points of the cooperation in promoting “smart yet small livelihood programs” in the Belt and Road Cooperation.
Nigerian-China Cooperation in 2024 has enormous prospects both for consolidation of various outcomes and an important historic – starting point, especially at this crucial point of Nigeria’s historic trajectory where tangible outcomes are needed more than bogus promises and empty talk
•Onunaiju is of an Abuja based research think tank.
The year 2023 has come and gone, heralding the year 2024. A retrospective look into 2023 showed a Nigerian nation with no joy but rather humongous suffering with gloomy look, extreme pain, hopelessness and mourning. Nigerians in 2023 made giant strides to survive despite a harsh and excruciating rough economy. The truth is, the Nigerian masses were pushed to the wall and extreme in 2023. The burden on the Nigerian people in 2023 was unimaginable and alarming.
With the coming of democracy several years ago, Nigerians had hope of a better country but sadly the reverse is the case. Our roads are a disaster and death trap, the education sector is in bad shape and dilemma, the health sector is more of a death centre, the civil service/public service is corruption personified. Corruption and criminality has remained the bane to a prosperous and bright nation. Those in government and positions of authority remain guilty of corruption and criminality and the Nigeria nation is suffering the consequences of give and take.
Today security agencies collect bribes on our roads. These agencies include the Police, the Federal Road Safety Corps (FRSC), the Army and even the vigilantes’ etc. The country is in a mess. When you visit our Government Reservation Areas (GRA), you see many unoccupied gigantic edifices majorly owned by former and current public office holders’ all as a result of corruption, fraud and criminality. Contracts are awarded and inflated. Worst still, these contracts are never carried out or they are sub-standard.
Cost of living today is astronomically high, too expensive, unbearable and unsustainable. The Nigerian people gives so much, expects so much but gets little or nothing from the government and those in positions of authority across all sectors. Going round the country, you see poverty, hopelessness, suffering and anguish in the midst of plenty and vast national resources. The cost of living today in Nigeria is beyond human comprehension.
I pity low grade civil servants, I pity jobless Nigerians. I pity pensioners with no support from their struggling children. When you see top government officials, top politicians, those in positions of authority and their lifestyle, it’s like we are in the country of El Dorado. They live flamboyantly in the best of houses, drive exotic cars and their children in schools beyond what their monthly earnings or loans can afford. Despite the poor living standard of Nigerians, there is no governor with less than N700m naira monthly security vote. Sadly the insecurity around the citizen can never be overemphasized.
In the years past, so much was budgeted for, annually by federal, state, local governments and even corporate organizations but little gets to the Nigerian masses. Look around the states; you see the consequences of a corrupt and criminalized nation. No good roads, no good and quality schools, our hospitals are death centres, basic amenities are conspicuously absent. I pity the children in our rural communities. What goes around comes around. I foresee a future where the neglected become torn in the flesh of the elites who have stolen our common patrimony.
People are elevated or appointed into offices and they are only after what they can quickly grab because of the saying that no man knows tomorrow. They jettison morality and quality and get possessed by the evil spirit of hypocrisy, criminality and corruption. Truth has remained scarce in our nation while hypocrisy, corruption and criminality continue to bedevil all sectors in the country. The people pay taxes but still have to provide their own security, maintain their streets, communities and roads, train their kids in private schools, provide private health care for their kids, provide their own power supply (acquiring solar supply, generators and even buying transformers) etc. So much has been said about investment in power supply since the coming of democracy but still power supply remains epileptic and unavailable and it has badly grounded the Nigerian economy as many companies and enterprises have packed up due to inability to sustain expenses on diesel and fuel.
Life expectancy today in Nigeria is 52 years in a nation that is supposed to be flowing with longevity and good health. Fake/substandard drugs and other consumable products abound all over Nigeria. Across the country, you hear and see fake water, fake malt, fake wine, fake juice, fake cream, unhealthy bread and foods etc. Virtually every product in the Nigerian market has its fake counterpart. What a disaster the future holds for the health of the Nigerian people!
NAFDAC and Consumer Protection Council (CPC) have disappointed the nation. Food security and safety is zero in Nigeria. The current high rate of organ diseases rampaging Nigerians today is the consequence of past food insecurity and safety. A bleak future of sickness looms in the country if urgent measures are not put in place to rip the nook and crannies of Nigeria of all fake, counterfeit food and health products.
The universities continue to churn out millions of undergraduates and postgraduates but no job, no employment. Many of these graduates have tried private businesses but the poor and weak economy and harsh government policies coupled with non-availability of financial support has crippled such businesses. In most states, there are hardly any private establishments that can pay a monthly salary of N80,000 let alone N100,000 or N150,000 and above. The entire Nigerian nation needs to be declared a State of Emergency. The wasteful, flamboyant expenditure and extravagant lifestyle of government officials and those in positions of authority in a nation bleeding of poverty, hunger, starvation and criminality need to urgently be stopped and those wasteful funds channelled into critical infrastructures..
Can the dry bones of Nigeria rise again? What future does the nation hold for the next generation of children? If the country is divided into four parts, is it possible that things will get better for the four divided parts? Today, the Nigeria nation is in a state of quagmire and in a sorry state with no peace and no security. Suffering and hunger abound everywhere. The naira today has no value. How long can the people persevere and be patient? The masses seem to have given up. When will our Messiah come? Hope seems to have forgotten the Nigerian masses. Fear of what tomorrow holds continues to send the masses to their early grave through high blood pressure, hypertension and sicknesses. In fact, life expectancy of Nigerians keeps coming down on a daily basis.
As we begin 2024, the Nigerian people must wake up and fight for their rights and future. The nightmare in the Nigerian nation in 2023 was at its crescendo. In 2024, we need friendly policies. In 2024 we need leaders who will spend less time in their place of comfort and palaces but will genuinely spend more time with the people in the streets, communities, markets, farms, schools, shops etc. proffering solutions’ and delivering dividends of democracy.
We need leaders who will genuinely spend more time to hear directly from the people through media chats, symposiums, market gatherings, school gatherings, telephone chats/whatsApp. One commendable leader of 2023 was Engr. David Umahi, the Minister of Works, for his tour of roads across Nigeria to have a feel of the stress and struggles of the Nigerian people on our roads.
In 2024, the Nigerian people expects implementation of salary increment, massive road rehabilitation and construction, improvement in electricity generation and supply, hospitals with doctors and nurses in the rural communities, genuine fight against corruption and criminality, reduction in fuel price, quality and better education, boost in employment by private and public companies, genuine empowerment of the less privileged etc.
In 2024, the Nigerian people appeal to the government and those in positions of authority to avoid all forms of wasteful expenditure but rather invest in critical infrastructures that are of short and long term benefits to the Nigerian people. The people demand for good leadership, quality services and accountability.
•Prof Usunomena writes from Edo State University Uzairue.
A former Chairman of the South Africa chapter of the ruling All Progressives Congress (APC), Mr. Bola Babarinde, has said Nigeria can pay a higher minimum wage than it is doing currently, if the country eliminates wastages and corruption in governance.
Babarinde, who was also the Deputy Director of Sanwo-Olu/Hamzat Campaign Council, Diaspora Directorate, noted that any meaningful minimum wage in present-day Nigeria could be up to N200,000 due to economic realities.
In a statement yesterday while reacting to President Bola Tinubu’s New Year Day broadcast, the APC chieftain said a living wage would encourage workers to put in their best as well as reduce stealing and other misconducts in public service.
The News Agency of Nigeria (NAN) reports that President Tinubu had said the Federal Government would implement a new national living wage in 2024.
The President said the decision made a good economic sense and was morally and politically right.
“A living wage should reflect intention to improve the welfare of the Nigerian working class,” Babarinde said.
The APC chieftain said President Tinubu came to power with some measures to reposition the economy and give succour to Nigerians.
He noted that ordinary Nigerians were suffering because “building can be more difficult to achieve than destroying”.
Babarinde added: “We should not expect a system that had been damaged for decades to be repaired and turned around in a jiffy.
“Sustainable development takes time.”
On President Tinubu’s travels to attract investments, the APC chieftain noted that they were based on his good intensions, but advised that the Federal Government should look inwards.
“This is the time to ask our universities, colleges of technology and technical schools to give us the Nigeria of our dream by helping with ideas on refining homegrown technologies for industrial and economic self-reliance.
“We must be serious about ease of doing business among our African countries and reduce obstacles in communication and transportation within our countries.
“Reduction of airfare and cost of telecommunications among ECOWAS nations should boost local trade, which will definitely help economies of those nations,” he said.
Babarinde urged Nigerian leaders to make sacrifices for the nation, saying financial recklessness must be avoided through fiscal discipline.
He urged the President to leverage the network, experience and expertise of Nigerians in the Diaspora to actualise his administration’s Renewed Hope Agenda.
