Aliko Dangote, Africa’s richest person, says he still faces difficulties travelling in Africa with his Nigerian passport.

Dangote spoke recently at the Africa CEO Forum Annual Summit in Kigali, Rwanda.

“I still complained to President Kagame. I told him that as an investor, I have to now apply for 35 different visas on my passport, and I told Mr. President, I really don’t have the time to go and be dropping my passports in embassies to get a visa,” he said.

“But you see, the most annoying thing is that yes, if you are treating everybody the same, then I can understand.”

Using the French passport as an example, Dangote said Patrick Pouyanne, chairman of Total Energies, does not need 35 visas on his French passport to gain access to African countries.

“You don’t need 35 visas on your French passport. This means you have a freer movement than myself in Africa,” he said.

Speaking further on businesses within Africa, he said right now, “our main job is to make sure the regional markets all work. Once they work, then we can now go to Africa Continental Free Trade Agreement (AfCFTA). But then, for AfCFTA also, we need to make sure that it works”.

“We cannot have a very promising continent and our intra-trade rate is less than 16 percent. Okay, so we Africans will have to do it. If we are waiting for foreigners to come and do it, both the development of Africa, it’s not going to happen,” he said. 

“So it can only happen to us Africans. We must risk our sources and make sure that we lead, then we will have people who actually trust and believe in Africa like Patrick to come and help us to push to the next level.”

Also, at the event, the business mogul announced that Nigeria will not have to import petrol into the country by June when Dangote refinery commences production of the product.

[TheCable]

So many people are today going through horrible things and difficult times. They seem to have come to the end of their life journey, end of their career or their vision. It is like man and God have since abandoned them. Some have been dealt terribly by Satan, enemies, friends, relations and life misfortunes. Even those that they trusted, loved and helped have betrayed, injured and abandoned them. Some are struggling to bounce back while many others have completely given up, resigned to fate – waiting to be ‘deleted’ and forgotten. In fact they have been left to rot away – with no hope and no future – licking their wounds and tears in secret. Where are you now? Yes, I am asking you. What is your current situation? Were you betrayed? Were you attacked, fatally bruised and wounded? Were you robbed?  Or maybe you are presently abandoned to die? Tell me. Listen now, your story is not worse than the man Jesus described here “…A Jewish man was traveling from Jerusalem down to Jericho, and he was attacked by bandits. They stripped him of his clothes, beat him up, and left him half dead beside the road. By chance a priest came along. But when he saw the man lying there, he crossed to the other side of the road and passed him by. A Temple assistant walked over and looked at him lying there, but he also passed by on the other side. Then a despised Samaritan came along, and when he saw the man, he felt compassion for him. Going over to him, the Samaritan soothed his wounds with olive oil and wine and bandaged them. Then he put the man on his own donkey and took him to an inn, where he took care of him. The next day he handed the innkeeper two silver coins, telling him, ‘Take care of this man. If his bill runs higher than this, I’ll pay you the next time I’m here.’ Luke 10:30-35

   My God! Listen, your help is coming! He is sending somebody to lift you out of that situation. And surprisingly it will come from where you least expected. I just prayed for a man who thinks everything had come to an end. No money, no peace in the home, no favour, no love and no trust from relations and no hope. And the worst is that he was totally betrayal by those he trusted physically and spiritually.  You know it is easier to endure when you lose physical things. But when those that should help you emotionally and spiritual also disappoint, it makes the matter worse and will take God’s grace for you to survive and still move on. This is why the punishment, the curses for betrayers, spiritual, priestly fraudsters and fakes will always be greatly multiplied. Don’t defraud the innocent, the gullible and the wounded who are seeking for healing in the name of God or religion. Don’t manipulate people to extort and steal from them in the name of God and spiritual help. If you do, your end and reward will sure be painful and disastrous. But that is not what we are talking about today. Our friend, the Jewish man was travelling from Jerusalem to Jericho. The men of the underworld, the robbers, and the bandits attacked him, beat him up, stole all his money and goods and left him there on the highway to die. Yes, people can be that wicked. Very wicked! But they were simply imitating their father the Devil whom the bible said that he goes about killing, stealing and destroying. That has been his ministry everywhere, throughout ages.

It is a common believe that availability of affordable housing in any society, plays an important role in improving the living standard of the people, having multiplying effects on the socio-economic development of the nation. 

However, Nigeria is one of the African nations that have challenges tackling its growing housing deficit resulting from increasing population and other socio-economic issue. Effective provision of affordable housing for the people has remained on the inadequate list, an issue that continues to generate discussions among relevant stakeholders not only in Nigeria, but also Africa sub-region.

According to the Central Bank of Nigeria, Nigeria housing deficit was 7 million, rising as high as 12 million in 2007, 14 million in 2010 and 20 million in 2018. By 2023, Nigeria had recorded an estimated 30 million in housing deficit with high cost of construction materials, high property cost, lack of access to credit for potential homeowners, slow cost of land registration and land titles, poor housing policies, among others, affecting the adequate supply of housing units.

Some experts, in the wake of tackling the growing housing deficit, opined that the best way to address the challenge is through a multifaceted channel that will include government and other key stakeholders at all levels, be it private organisations, real estate developers, cooperative societies and many more, to deploy innovative solutions which will require a symbiotic collaboration to meet the diverse housing needs of every stratum in the country.

In bridging the widening housing gap affecting all interest, particularly the middle and lower class citizens in Ogun state, the present administration led by Prince Dapo Abiodun embarked on affordable housing initiative that would address the challenges. An initiative which has become a model for other states to emulate. Governor Abiodun, through the Ogun State Housing Corporation (OGSHC), reaffirmed its commitment to assiduously pursue provision and delivery of decent, safe housing accommodation at affordable cost with secured land tenure.

Aside from these, the Corporation has not relented in its responsibility of increasing the availability of residential homes, commercial, as well as industrial buildings for more people to acquire, thereby providing and maintaining roads, footways, bridges, street lights, ensuring functional drainages,sewers and potable water for the overall convenience of subscribers.

Interestingly the foremost housing estates which were located at Ibara, Abeokuta and Igbeba in Ijebu-Ode, were taken over and developed into vibrant, elegant and enlarged housing units by the Corporation, with lots of other well-built ones in Ilaro, Idiroko, Ayetoro, Ota and Oke-Ata, to mention a few.

Going by the robust policy framework under the social housing scheme of Governor Dapo Abiodun led-administration, the methodical approach and financing mechanism adopted for the provision of decent accommodation, in a serene environment has really showed value for what allottes subscribed to. No wonder the Federal Government showed interest in partnering with the State towards meeting its target of delivering 10,000 housing units in the three Senatorial Districts of the State; Ogun Central, Ogun West and Ogun East.

To the credit of OGSHC, the 'Yellow roof' innovative logo of the state government's housing estates were successfully completed and delivered with essential facilities at Kemta Idi-Aba, tagged, Prince Court Housing Estate, phase 1.

 The Prince Court Housing Estate consists of 120 units of 2-bedroom semi-detached bungalows and 10 units of 3 bedroom detached bungalow, totaling 130 units, while the 2nd phase of the estate also has 150 units. Similarly, the construction of the first phase of Prince Court Housing Estate in Itanrin, Ijebu- Ode, was done with 100 units of 2 and 3 semi-detached bungalow.

To improve upon the existing laudable, affordable and quality housing delivery to the people of Ogun State therefore, more creative strides are being worked out. This vision includes, but not limited to the construction of 5 bedroom detached duplexes in Ota, Boft Gardens along Lagos road, Abeokuta, which will consist of 150 units of expandable 2 bedroom semi- detached bungalows, and Prince Court 3 , which will consist of 250 units expandable 2 bedroom units.

The General Manager, Ogun State Housing Corporation, ESV. Wale Ojo, who emphasised that the new projects would be accompanied with world class infrastructure capable of attracting many subscribers, noted that the present administration was keen at providing quality, affordable and decent housing for the people, rather than mere shelter.

The new trend in housing delivery no doubt calls for fresh skills on best practices, training on technological advancements and relevant regulations to ensure efficient and sustainable development. In this regard, the pro-activeness of the Corporation has manifested through a high-level capacity building programmes for professionals in different cadres, to enhance their skills, knowledge, and capabilities in planning, designing and managing projects.

With the two-day training on Strategic Leadership Development for the management cadre, organised by the Corporation, towards boosting individual and organisational performance in effective delivery for better turnover, was held, followed by training on Work Ethics and Professionalism'' for the Secretaries. 

According to the General Manager, ''these workshop and training will help to sharpen the management skills and broaden their knowledge, regarding their responsibilities in the organization. Meeting up with the housing needs of the people require Government sustainable policy, undertaken by well-trained government workers who will sustain the policy and ensure its actualisation for the socio-economic development of the state. 

Consequently, Ogun State Housing Corporation has set machinery in motion to achieve its set objectives of bridging the  gap of housing deficit not only by mere building of more affordable housing units but also in training and empowering the workforce that will sustain such a laudable vision in the State.

Mistura, Press Officer, Ogun State Housing Corporation, Oke-Ilewo, Abeokuta, Ogun State, Nigeria. 

Two weeks ago, I woke up to receive an invitation from Aare Dele Momodu via WhatsApp, requesting my presence at his inaugural leadership lecture in celebration of his sixty-fourth birthday. I was really excited about the initiative because such forums tend to serve as incubation rooms where wealth of ideas that can be used to propel the country forward are consummated.

I was even more excited about the topic “The politics of energy and the way forward” but what really thrilled me was the choice of Prof Bartholomew Nnaji as the guest speaker given his phenomenal exploits in the Nigerian power sector which is already transforming the economy of Abia state and promises to serve as a template that can be used to resolve the power sector challenges in Nigeria.

I waited with abated breath till the sixteenth of May when the event was scheduled to take place at the prestigious Nigerian Institute for International Affairs (NIIA) in Victoria Island, Lagos. The day couldn’t come early enough, it actually felt as if I was the one going to be the celebrant given how excited I was about it. The day eventually came and there was a heavy downpour that morning which resulted in a bit of traffic congestion but it wasn’t enough to deter me as I looked forward with excitement to the event of the day.

On getting to the premises of the NIIA, the ambiance of the venue was augmented by a beautiful collage of photographs of the celebrant with leading past and present, national and global leaders which showcased him as a man with vast networks and influence even though he has always downplayed this with his exceptional humility.

As expected the ambiance of the auditorium was congenial as it had been well decorated to suit the occasion and the Master of Ceremony was no less than Dr Reuben Abati who is one of the top and most respected journalist in the country. The occasion was graced by three former governors who have also been leading presidential candidates in previous elections namely Peter Obi, Donald Duke, and Rabiu Kwankwaso while the Chief Host of the occasion was the governor of Osun state, His Excellency Governor Ademola Adeleke.

The royal father of the day was no less a personality than the Oonirisa, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi who brought pomp and pageantry to the occasion. The chairman of the occasion was Dr John Dramani Mahama the former president of Ghana who did a lot to transform the power sector in Ghana, while as mentioned earlier the guest speaker was Professor Bartholomew Nnaji who is probably the most qualified Nigerian alive to give a lecture on the subject matter.

The event started with a brief welcome from the MC, Dr Reuben Abati who added a lot of flavour to the occasion with his wit and charm as he dexterously handled the affairs of the day. Next was the celebrant, Aare Dele Momodu who told us about his dream for a better Nigeria and wanting to leave a legacy of contributing to the country’s development being the inspiration behind opting for leadership lectures to celebrate his birthday going forward, to the applause of the audience.

The chairman of the occasion Dr John Dramani Mahama was the first to speak and he shared with us his experience in solving the power problems in Ghana during his administration while he advocated for greater cooperation between Nigeria and Ghana in resolving our economic challenges in the ECOWAS sub-region. He also emphasized that Nigeria being the big brother has a bigger role to play in developing the sub-region.

Next was Prof Bartholomew Nnaji giving us his keynote address in which he first spoke about the politics of energy at the international level, the issues regarding the quest for renewable energy to protect the planet while he pointed out the hypocrisy and double standards of Western powers when their interests conflict with the ideals that they have set for the rest of the world. He then delved into the power sector challenges in the country and what can be done to assuage them.

He was particular about the availability and the cost of gas which the government and the oil companies prefer to export rather than making it abundantly available for local use. However, he didn’t delve into the specific challenges he had in setting up Geometric Power Limited in Abia state and how he was eventually able to overcome these challenges which was what I really looked forward to hearing about from the horse’s mouth. I guess that he didn’t want to shake the table so he avoided a topic that could end up being controversial.

A few eminent personalities were then called upon to respond to the keynote speaker’s address starting with Mr Peter Obi who emphasized the critical role the power sector will play if we were to move our country from a consuming one to a producing one. Next was His Imperial Majesty Oba Adeyeye Enitan Ogunwusi who dazzled us with his charm and eloquence as he emphasized the importance of the power sector while he advocated that we unite as a people to solve the country’s problems.

On his part, Donald Duke told us of how Nigeria lost a major investment opportunity from America in the mid-eighties when they proposed to build a gas pipeline from Nigeria to Europe due to the arrogance of our leaders at the time while inferring that the problem persists today. The pipeline was meant to evacuate over 25 billion cubic feet of gas that was being flared away at the time which was equivalent to about 25 million litres of diesel being frittered away daily, instead of harnessing it to add value to the country’s economy.

Contributing further, Kola Karim the chairman of Shoreline Group a major player in the Nigerian energy sector emphasized the need to develop infrastructure so that we can fully harness our resources to produce an efficient and stable power supply in the country.

It was indeed a very elucidating event but like all good things, it had to come to an end and our ever-so-professional MC was determined not to keep us waiting beyond the timeline planned for the occasion even though most of us wouldn’t have minded spending more time learning from the brilliant minds that spoke at the event.

At this juncture, I would like you to use this opportunity to once again congratulate my boss and egbon, Aare Dele Momodu on the auspicious occasion marking sixty-four years of his sojourn on this planet and celebrate him for the giant strides that he has made within the period. More commendable is the passion he has for our beloved country Nigeria and the desire he has to contribute to the development of the country which he has continuously demonstrated over the years and has now decided to institutionalize it by making the leadership lecture an annual event on the occasion of his birthday.

I pray that the almighty will continue to prosper him and reward his labor of love for the country even as we pray for good leaders that would turn the country to the path of progress and prosperity.

This is also a call out to other influential Nigerians to endeavor to use their means to contribute to the development of the Nigerian society. With what Aare has done with this leadership lecture, he has demonstrated that you don’t need political power to contribute effectively towards the development of the country. Where there is a will, there will surely be a way.

Oshobi writes from Lagos.

In less than ten days, 20 governors will be celebrating their one year in office.

Some of them emerged as governors through the endorsement of their predecessors who paved the way for them among several other interested politicians.

In Nigeria, fights between godfathers and godsons are very popular.

Some of the most notorious recently would be Rabiu Kwankwaso vs Umar Ganduje, Peter Obi vs Willie Obiano, Udom Emmanuel vs Godswill Akpabio, Adams Oshiomhole and Godwin Obaseki, Rauf Aregbesola and Gboyega Oyetola, and others.

On the other hand, President Bola Tinubu is perhaps the most successful godfather in this return to democracy. Between 2007 and now, he has installed three governors in Lagos State but still controls the political structure.

Fast forward to this period, the fight between Governor Similayi Fubara of Rivers State and his predecessor, ex-governor Nyesom Wike has dominated reportage.

In Kaduna, there is an ongoing fight between former governor Nasir El-rufai and Governor Uba Sani. Also, in Benue State, Governor Alia and ex-governor George Akume are in a supremacy battle for the control of the structure of the party.

However, there are some states where it has all been quiet between the incumbents and their successors. Even though there may be fights, it has not gotten to the pages of newspapers.

Enugu State

Former Governor Ifeanyi Ugwuanyi of Enugu State and a member of the famous G5 group, endorsed Peter Mbah ahead of the primaries in 2022, and despite the push by the Labour Party during the election, the PDP was able to retain the state.

However, Ugwuanyi lost his bid to go to the senate. He suffered a heavy defeat against Okechukwu Ezea of the Labour Party.

The ex-governor appears to have his focus on the G5 struggle for the control of the PDP at the national level, while Mbah appears to have control of governance and the PDP in Enugu State. The former governor has not uttered a word about governance in the state since he left office, indicating a good relationship between him and his successor.

Kebbi State

Former Governor Atiku Bagudu backed Nasir Idris during the primaries to defeat former Majority Leader of the Senate, Yahaya Abdullahi.

Bagudu’s support for the former President of the Teachers’ Union caused heavyweights like former Attorney General of the Federation, Abubakar Malami not to join the race for the party ticket.

One year into the administration, Bagudu, a top minister in the Bola Tinubu government and his successor appear not to have started any fight over the control of the structure of the party in the state.

Kano State

After surviving eight years of political humiliation at the hands of his former lieutenant, Rabiu Kwankwaso, the former governor of Kano State, appears to have finally gotten the hang of being a godfather.

In 2015, he reluctantly supported his then deputy, Umar Ganduje for the governorship seat. That decision almost cost him his political terrain.

In 2019, Kwankwaso decided to keep it in the family by backing his son-in-law, Abba Yusuf but he was defeated in controversial circumstances.

The same ticket was repeated in 2023 and it worked. So far, both Kwankwaso and his son-in-law appear to have their energy focused on the same foe, Ganduje.

Jigawa

The Minister of Defence and former Governor of Jigawa State, Abubakar Badaru and his successor Umar Namadi are another classical case of quiet relationship.

Like most other governors, Badaru picked his deputy as successor.

It would be recalled that Namadi did not start the administration with Badaru in 2015, he joined in 2019 after Ibrahim Hadejia was dropped.

Hence, it appears that the succession plan was carefully planned in 2019.

Delta

In 2023, for the first time, a candidate endorsed by James Ibori did not win the governorship election in Delta State.

The former governor endorsed Emmanuel Uduaghan as his successor and according to multiple sources, he also paved the way for Ifeanyi Okowa.

“Before the 2015 elections, I received a call from our leader (Ibori), and I asked him the direction. He (Ibori) told me Okowa should be supported.

“I was then the Deputy National Chairman. I gathered all my people; I said I have received an order from our leader. Your Excellency, I am grateful that your decision was right. That is how we supported Dr Okowa because the leader spoke to us,” Uche Secondus, a former PDP National Chairman revealed in 2018.

However, Okowa put a halt to the trend when his candidate Sheriff Oborevwori defeated Ibori’s David Edevbie.

According to Okowa, he refused to back Edevbie who dared to challenge him for the seat in 2015.

“David Edevbie is my friend. We were with the former governor in his tenure together as commissioners, but in 2014, when it became obvious that it was the turn of the Delta North — Delta Central and Delta South had had their turns — I heard that David was going to run and he was indicating interest.

“I went from Abuja with three of my friends to visit him in Lagos — and I said ‘David, please, it’s only fair, I know that there are so many people competing but I’m coming to you as a friend. It will not be fair if you run. Governor James Ibori has been there, Governor Uduaghan has been there, it’s obviously the turn of the Delta North; why don’t you allow us to have our space so that we can all be said to be part of the state? Thereafter, we can all work for you to become governor’.

“And then suddenly, the next thing we heard was that they had endorsed David but this same David had committed himself to me,” Okowa told journalists in 2023.

However, all have been quiet in Delta State since the election, with the incumbent and his predecessor keeping it cool.

Sokoto

Aliyu Wamakko has been involved in all leadership tussles in Sokoto State since 1999 when he emerged as deputy governor to Attahiru Baffarawa.

His endorsement of Aminu Tambuwal in 2015 and the fallout left him in a political wilderness for some time, but he made a comeback last year by backing Ahmad Aliyu.

So far, the two have been quiet, which could mean the political arrangement is suitable for all sides.

Akwa-Ibom

Udom Emmanuel, the immediate past governor of Akwa-Ibom State, fought a tough battle against his then-godfather, Godswill Akpabio, and emerged victorious.

Governor Udom did not just win the battle, he dominated the entire structure of the party. In 2022, he backed Umo Eno as his successor.

The former governor had earlier promised not to endorse anyone but made a U-turn that Eno was revealed to him by God as the preferred candidate.

“The governor announced that he (Eno) was the one God has revealed to him as the next governor of the state and he was unveiled to all the stakeholders from the three senatorial districts of the state by the former governor, Obong Victor Attah, who then commended the choice,” Ekerete Udo, the then press secretary to the Governor said in 2022.

Mr Udom refused to go to the Senate like many of his other colleagues and has been quiet aside from his appearance at the last NEC meeting of the PDP.

The two have not openly clashed for control of the state.

Ebonyi

Dave Umahi, the former Governor of Ebonyi State, fought a tough battle to become governor of the state.

From party chairman to deputy governor, he subsequently emerged as the governor despite not getting the support of Martin Elechi, the then-governor.

Umahi who has a reputation for being a hardliner, single-handedly nominated Francis Nwifuru as the candidate of the APC and ensured his emergence as governor.

So far, Umahi, the Minister of Works, appears to focus on his work as federal minister, while the governor is focused on the home front.

Cross River

Governor Bassey Otu and his predecessor, Ben Ayade appear to have a cordial working relationship since the last election.

Ayade had endorsed Otu as the governorship candidate but the endorsement was challenged by John Enoh. The fight was so fierce that it took the intervention of President Bola Tinubu before calm was restored.

However, Ayade has been in political irrelevance since he lost the senatorial election and was not appointed minister like others.

It appears as though the former governor has ceded the political structure to his successor.

• Deliverables based on Administration’s eight priority areas are criteria

President Bola Ahmed Tinubu is expected to receive the scorecard of members of his cabinet this week.

The Administration will be one year old next week, but the ministers will clock nine months in office tomorrow, having been sworn in on August 21 last year.

The scorecard of special advisers and heads of key departments and agencies will also likely be delivered to the President.

Forty-eight ministers were inaugurated by the President but they are now reduced to 46, following the departure of Minister of Labour and Employment Simon Lalong, who resigned to take up his seat at the Senate following his victory at the Court of Appeal.

He left the government on December 20.

Minister of Humanitarian Affairs Dr. Betta Edu has been on suspension since March 6 to allow a probe into allegations of misdeed in her ministry.

There is anxiety in the cabinet over whether the assessment report will lead to a reshuffle or removal of some ministers.

Although the report was compiled by Special Adviser on Policy and Coordination/ Head of Central Coordination Delivery Unit (CDCU) Hajiya Hadiza Bala-Usman, the President has the final say on it.

The criteria for the performance assessment of the ministers were spelt out after the retreat which followed their inauguration.

This is based on deliverables of the Federal Executive Council (FEC) members on the eight priority areas of the Administration. These are:

• Reforming the economy to deliver sustained and inclusive growth;

• Strengthening national security for peace and prosperity;

• Boosting agriculture to achieve food security;

• Unlocking energy and natural resources for sustainable development;

• Enhancing infrastructure and transportation as enablers for growth;

• Focusing on education, health, and social investment as essential pillars of development;

• Accelerating diversification through industrialisation, digitisation, creative arts, manufacturing, and innovation; and

• Improving governance for effective service delivery.

The ministers have been undergoing quarterly performance appraisals by the CDCU.

Although the unit had submitted an interim report, the first-year assessment was said to be “crucial” to shaping the focus of the 36 months left in the first tenure of the President.

A top source, who spoke in confidence, said: “The President may receive the first year performance evaluation of the ministers, advisers and even strategic departments /agencies.

“The CDCU has subjected the ministers and others to a quarterly assessment.

“From the outset, the ministers signed a performance bond. And the bond will determine their fate.

“There was also a Citizens’ Delivery Tracker App used to monitor the performance of the ministers and their portfolios. Nigerians’ verdict may also count too.

“But whatever is the eventual decision on the ministers, it is the prerogative of the President.”

On how the ministers will be rated, a top source said: “It has been based on the eight priority areas of the President. They are already aware of the key indices.”

At the commencement of the evaluation process, Hajiya Bala-Usman said: “For each of these priority areas, we agreed on specific deliverables and developed Key Performance Indicators (KPIs), which formed the basis for the Performance Bond which all ministers and permanent secretaries signed with the President in November 2023.

“These parameters will guide the Quarterly Assessments and Annual Scorecards, which the CDCU is mandated to present to the President.”

New Taiwan President Lai Ching-te on Monday vowed to defend the island’s democracy, as he called on China to end its military intimidation of the self-ruled island.

In an inauguration speech, Lai also directly addressed the threat of war following years of growing pressure from China to bring Taiwan under mainland rule.

Lai said a “glorious era of Taiwan’s democracy has arrived” and thanked citizens for “refusing to be swayed by external forces, for resolutely defending democracy”.

“In face of the many threats and attempts of infiltration from China, we must demonstrate our resolution to defend our nation and we must also raise our defence awareness and strengthen our legal framework for national security,” said Lai, 64.

China has described Lai as a “dangerous separatist” for his past comments on Taiwan’s independence — rhetoric that he has moderated in recent years.

On Monday, he said his government will “neither yield nor provoke, and (will) maintain the status quo” — a balance that preserves Taiwan’s sovereignty while not declaring formal independence.

“I also want to call on China to cease their political and military intimidation against Taiwan,” Lai said.

He urged Beijing to “share with Taiwan the global responsibility of maintaining peace and stability in the Taiwan Strait… and ensure the world is free from the fear of war”.

Lai has made repeated overtures to resume high-level communications with China, which Beijing severed in 2016 when his predecessor Tsai Ing-wen took power.

On Monday Lai said he hoped China would “choose dialogue over confrontation”.

Experts have said Lai’s overtures are likely to be rebuffed.

– US support –

Taiwan has been self-governed since 1949 when nationalists fled to the island following their defeat by communist forces in a civil war on mainland China.

For more than 70 years, China has considered Taiwan as part of its territory and has long threatened to use force to bring the island under its control.

The United States switched diplomatic recognition from Taiwan to China in 1979 but remains the island’s most important partner and biggest arms supplier.

Lai is expected to further boost defence ties with Washington during his four-year term.

US Secretary of State Antony Blinken on Monday congratulated Lai, saying he was looking forward to Washington and Taipei deepening ties and maintaining “peace and stability across the Taiwan Strait”.

As Lai took office, Chinese state media reported Beijing imposed sanctions on three US defence companies over their sales of weapons to Taipei.

Chinese social media Weibo also blocked hashtags referencing the inauguration, preventing them from trending on the platform used by hundreds of millions in China.

Ahead of the inauguration, Beijing’s Taiwan Affairs Office said that “Taiwan independence and peace in the strait is like water and fire”.

Chinese warplanes and naval vessels maintain a near-daily presence around the island, but in the days leading up to the inauguration, there has not been a significant uptick in the numbers.

Lai and Vice President Hsiao Bi-khim — Taiwan’s former top envoy to Washington — are both part of the Democratic Progressive Party (DPP), which has championed Taiwan’s sovereignty.

China has dubbed them an “independence duo”.

– ‘Expand investment’ –

With only 12 formal allies, Taipei lacks diplomatic recognition on the world stage.

Eight heads of state who recognise Taiwan attended Lai’s inauguration ceremony.

More than 40 other countries, including the United States, Japan and Canada, also sent delegations.

Taiwan has its own government, military and currency, and the majority of the 23 million population see themselves as having a distinct Taiwanese identity, separate from the Chinese.

“I think it is better not to be too close to China or too far away from China — it is better to maintain a neutral feeling,” said Shen Yujen, 24, who is part way through his four-month military service.

Domestically, Lai faces another challenge after his DPP lost its majority in the legislature in the January elections, meaning it will be hard for him to push through his policies.

Many Taiwanese are less worried about the threat of conflict than they are about soaring housing prices, rising cost of living pressures, and stagnating wages.

Lai on Monday vowed to “expand investment in society” and ensure the island becomes a “force for global prosperity”.

AFP

GOVERNMENT felt so sorry for the Nigerian worker that it decided to lighten his burden. After all, the welfare of the citizenry is a major reason why we have government. Even the heart of former President Muhammad Buhari – said to be stone-hearted – melted on seeing the pitiful condition of the worker. So much that he made an award of N12,000 for federal public workers.

But the living conditions of the worker simply worsened. The N30,000 National Minimum Wage which under the Jonathan administration was in value terms $186, has shrunk to a paltry $20. The conversion of wages into dollar is logical because Nigeria is an import-dependent country.

In the Jonathan administration, the Minimum Wage of N30,000 could buy three bags of rice, now it can’t buy half a bag.

Compared to most countries, Nigeria’s $20 Minimum Wage, is abysmally low. War-torn Afghanistan pays $67, Kenya $52 and fellow African country, Morocco $349! Our neigbours also pay far higher: Niger, $60; Cameroun, $62; Benin, $70; and Chad, between $250 and $330.

The Tinubu administration which came into office on May 29, 2023, was so concerned about the beggarly state of the Nigerian worker, that it made a new N35,000 award for public sector workers pending the signing of a new National Minimum Wage. Arithmetically, given the existing N30,000 Minimum Wage and the awards by Presidents Buhari and Tinubu, the minimum take home of a public servant should be N77,000. The hope of the worker was that the new wage would not be lower than his current income. Government also gave that impression.

However, when government unfolded its new minimum wage proposal, it was N48,000! In other words, government is proposing a salary cut! Also, the Organised Private Sector which claims to pay a minimum N78,000 in its zone, proposed a new wage of N54,000! This also amounted to a salary cut.

Thus, the Tripartite National Minimum Wage Committee was transformed into a comedy show with plenty of clowns exhibiting their talents.

The joint labour team of the Trade Union Congress of Nigeria, TUC, and the Nigeria Labour Congress, NLC, which could not stomach the joke, walked out. They complained that there is “apparent un-seriousness of the government to engage in reasonable negotiation with Nigerian workers.”

The actions of the government and the employers was a written script acted to the letter. In my experience in negotiations, when employers do not want negotiations or solutions because they fear the outcome would be unfavourable, they stall it. In such a scenario, the employers are led by seemingly friendly persons who attend with officials whose brief is to provoke the workers. The employer’s agent provocateur would intentionally insult the workers or claim that the workers are rude. In the resulting uproar, the negotiations are truncated.

In this particular case, where the workers are expecting high wages corresponding with an inflation running at 30 per cent, the government and employers provoked the labour leaders by proposing what are essentially wage cuts. They succeeded in stalling the negotiations.

Labour lamented that: “Despite earnest efforts to reach an equitable agreement, the less than reasonable action of government and the Organised Private Sector, OPS, has led to a breakdown in negotiations.” This precisely is the intention; a breakdown in the negotiations!

To get the derailed negotiations back on track and stop the comedy, labour would need to embark on massive mobilization of not just workers, but also the mass of the people and shutdown the country.

Talking about comedy, I have not stopped laughing since Minister of Power, Adebayo Adelabu, told Nigerians either to accept steep increases in electricity tariff or “the entire country will be in darkness”. How do you threaten to dis-virgin a grandmother?

Another hilarious comedy was enacted, this time on international television, by the Chief Whip of the Senate, Ali Ndume. He argued that stealing by politicians should not be classified as theft. To him, politicians who do not steal more than N1 billion should have immunity from prosecution.

Senator Ndume, a father of 10, with two wives, including Justice Aisha Ndume, while justifying theft of public funds by politicians, told the world: “If you compare us, politicians, to all the corruption, it is very small. Our corruption is people-driven. If you steal it, you will go and share it with the people. If you don’t, you are not coming back for four years.”

Ndume, an Old Boy of Comprehensive Secondary School, Mubi, Adamawa State; Kaduna Polytechnic; and the University of Toledo, Ohio, United States and who has been a member of the National Assembly, NASS, since 2003, said:

“I have been to the National Assembly, I can’t say because we are on TV now and not tell the truth. If the death penalty is supposed to be included in corruption, I will support it but you don’t go and kill someone that stole one million or one billion, no. But someone who steals one trillion of government money should be killed.”

The Distinguished Senator did not explain the period allowable for a politician to steal N1 billion from the national purse. Assuming it is a monthly theft-limit, the 469 members in the National Assembly will be eligible to steal N469 billion from the national coffers monthly or N5,628,000,000,000 annually. If this is added to the annual budget padding by the NASS, perks from over sight functions and the unscrutinised Constituency Projects, the latitude of a NASS member with the Ndume-mind set to privately appropriate national resources, is quite wide.

But this will be understandable given Ndume’s explanation that politicians constitute a wealth-distribution-system through which the funds of the country trickle down to the electorate. It is akin to the poor masses drinking Champaign through the throats of their leaders.

Ndume, from Gwoza, Borno State, is a political survivalist who has moved round the major political parties since 1998: the All Nigeria Peoples Party, ANPP; the Peoples Democratic Party, PDP; and the All Progressives Congress, APC.

Given the open confessions of Distinguished Senator Ndume, will the Senate suspend and investigate its Chief Whip for theft and corruption? Will the ruling progressives’ party identify with its eminent member or distance itself from him? Will the Old Boys of his school hail him as a good ambassador, or distance themselves from him for not reflecting the ethics of their school?

As for his Borno South constituency, I am not sure a process for his recall will be initiated. Rather, I see him being returned to the hallowed chambers of the National Assembly.

May I humbly move a motion that we add to our national honours, the Grand Corrupter of the Federal Republic, GCFR? I so move!

Organisers of the Nigerian Diaspora Direct Investment Summit, NDDIS, have confirmed that the Minister of Industry, Trade and Investment, Doris Nkiruka Uzoka-Anite, will be special guest of honour at its forthcoming summit holding in London May 24.

The summit, themed ”Invest Nigeria, Invest Africa”, will also have the governor of Kaduna State, Uba Sanni, as keynote speaker.

Other notable personalities  attending the summit are the Senior Special Adviser to the President on Job Creation and MSMEs, Temitola Emitola Adekunle Johnson, and Chairman, Nigerians in Diaspora Commission, Abike Dabiri Erewa.

According to a statement by the media manager of the group, Lady Doyin Ola, the event, expected to have Diaspora business leaders as well as African, British, Commonwealth and other international investors and funders, will be declared open by the Acting High Commissioner to the United Kingdom, Ambassador Cyprian Heen.

In an earlier release, the founder, NDDIS, Prince Bimbo Roberts Folayan, announced a breakthrough in the organisation’s discussions with philanthropic funders who will provide 100% funding on a forgivable loan/grant basis.

“I am particularly excited about this year’s summit because for the first time, we will be directly involved in screening home-bound projects and will also help push projects that meet SDG goals to get grants.

” It is the first time we have been given this opportunity since we started attracting projects into Nigeria and Africa,” he said.

The event is in partnership with the African Diaspora Direct Investment Summit, supported by the Nigerian High Commission, Nigerians in Diaspora Commission, NIDCOM, Providus Bank and other partners.

[Vanguard]

Agora Policy, an Abuja-based think tank, says Nigeria needs a temporary dollar liquidity bridge for the orthodox reforms by the Central Bank of Nigeria (CBN) to take effect.

The think tank made the recommendation in a report titled ‘Orthodox Monetary Policy Restored, But Price Stability Remains Elusive,’ released on Monday.

Liquidity bridge is a trading platform that connects multiple liquidity providers with traders to aid transactions.

On May 13, Olayemi Cardoso, CBN governor, said the country had returned to an orthodox policy regime.

Orthodox reforms are traditional policies implemented to tighten spending until business confidence and profit levels are restored.

Agora Policy said despite strong action on the monetary policy front, Nigeria’s key macroeconomic variables have yet to respond favourably to the populace. 

According to the think tank, the fundamental cause of the current divergence is policymakers’ lack of a coordinated effort to address the foreign exchange (FX) liquidity issue that is at the root of exchange rate volatility.

“Specifically, the absence of a tractable source of USD liquidity to fill the shortfall from oil flows, which remain largely encumbered, continues to hinder CBN’s efforts to manage the foreign exchange situation,” Agora Policy said. 

“Without tangible progress on the front, the persistent weakness of the naira will continue to drive higher inflation, necessitating even higher interest rates and leaving a precarious outlook for non-oil sector growth.”

Quoting CBN data, the think tank said looking at the shortfall between the “current account (9M 2023 surplus: $2.7 billion) and the financial account (9M 2023 deficit: $7.7 billion),” Nigeria’s external sector gap stood at $5 billion as of October 2023.

“This shortfall is largely driven by negative trends in foreign net flows and ongoing domestic financial outflows, reflecting the negative impact of the Emefiele-era policy of negative real interest rates,” Agora Policy said.

To close last year’s gap, the organisation said Nigeria would have needed total flows of $7 billion to $10 billion to prevent significant external reserve drawdowns.

While a return to orthodox policies has partially addressed the issue, Agora Policy said a full restoration to historical trend levels will take time.

“In short, Nigeria needs a temporary dollar liquidity bridge to allow reforms to take effect. Beyond the rhetoric of orthodox reforms, Nigeria’s economic managers need to directly address the forex illiquidity problem by exploring optimal solutions,” the think tank said.

AGORA POLICY SUGGESTS SELLING OF ASSETS, EUROBONDS TO RAISE FX

Advising the financial regulator, Agora policy said eurobond issuance, assets sale, and engaging multilateral agencies, could boost dollar inflows into the country.

“These options include a possible Eurobond sale in the $5-10 billion range, though this might be challenging to execute without commercially punitive terms (e.g., double-digit dollar interest rates),” the organisation said.

“Asset sales have been suggested as a way to raise dollar flows, including the sale of certain strategic public corporations. However, outside the oil sector, Nigeria lacks assets of sufficient strategic value to raise large sums quickly.”

Another option, the think tank said, is the possibility of sovereign placements, similar to “Egypt’s receipt of large foreign dollar deposits from the UAE, alongside support from the EU, UK, and Western donors”.

However, Agora Policy said such flows depend on international diplomacy and Nigeria lacks a strong history of focused international relations to unlock capital flows.

“Alternatively, engaging multilateral agencies like the IMF for financing options within the context of a reform programme is a viable route,” the organisation said. 

“Given the difficult reforms undertaken over the last twelve months (hikes in fuel and electricity prices and a shift to a flexible exchange rate system), Nigeria is in a position to negotiate a favourable financing package.

“While these are fiscal decisions, not within the monetary policy remit, they are crucial for the CBN to stabilise the Naira exchange rate. Success in this area would stabilise exchange rate trends associated with portfolio flows and build confidence to unlock private and foreign USD flows.”

‘NIGERIA MUST FOCUS ON RESTORING ORGANIC DOLLAR FLOWS’

Over the medium term, Agora Policy said Nigeria must prioritise restoring organic dollar flows from oil exports by clearing the backlog of encumbrances. 

“Transparency regarding the nature and size of these liabilities will improve confidence about potential timelines for reserve recovery,” the think tank said.

“Beyond the immediate forex liquidity problem, there is a pressing need for a credible basis for conducting monetary policy over the medium term.

“While various Nigerian central bank governors have considered inflation targeting, these have largely been declarative positions without the empirical groundwork for setting achievable inflation targets and the policy leeway to attain these goals.”

Agora Policy said the importance of the exchange rate in anchoring inflationary expectations has been highlighted by the crisis of the past 12 months.

The report said monetary policy must strike a balance between exchange rate stability — which is crucial for near-term inflation — and non-mineral export competitiveness in a small open economy like Nigeria.

“This boils down to achieving a Naira Real Effective Exchange Rate (REER) level that anchors inflationary expectations sustainably,” Agora Policy said.  

“Additionally, there is a need to clarify monetary policy implementation in light of Nigeria’s regime of fiscal liquidity dominance. Nigeria’s fiscal petrodollar-to-Naira monetisation generates surplus Naira liquidity, complicating the execution of monetary policy. 

“Unlike other oil-exporting countries that use fiscal rules to determine the rate of export USD monetisation, Nigeria injects transformed export dollars to Naira at a fiat exchange rate, leading to excess financial system liquidity.”

Also, Agora Policy said actual monetary policy drives significant costs associated with curbing the impact of the excess naira liquidity on inflation and dollar demand.

“Recalibrating Nigeria’s monetary policy implementation toolkit to address monthly government liquidity transformations is central to improving monetary policy transmission,” the report said.

“Ideally, this would require a fiscal rule, which is outside the scope of this paper and requires political capital to reform.”

Agora Policy said if the status quo persists, the default monetary policy posture will be to constantly curtail financial system liquidity to manage the fallout of excess liquidity on dollar demand.

[TheCable]