• SERAP calls for the cancellation of the plan to spend N40 billion on luxury cars for members and N70 billion as “palliatives” for new members of the National Assembly.
• SERAP criticizes the increase in the National Assembly budget, arguing that it violates fiduciary duties and neglects the welfare of over 137 million poor Nigerians affected by the removal of fuel subsidies.
• SERAP threatens legal action if the requested measures are not taken within seven days, stating that the proposed spending is a breach of the Nigerian Constitution and international human rights obligations.

Socio-Economic Rights and Accountability Project (SERAP) has urged the Senate President, Mr Godswill Akpabio, and Speaker of the House of Representatives, Mr Tajudeen Abbas “to drop the scandalous plan to spend N40 billion on 465 exotic and bulletproof cars for members and principal officials, and N70 billion as ‘palliatives’ for new members.”

The advocacy group has urged the National Assembly leaders to repeal the 2022 Supplementary Appropriation Act to reduce the budget for the National Assembly by N110 billion, reflect the current economic realities in the country, and address the impact of the removal of fuel subsidy on the over 137 million poor Nigerians.

SERAP also urged them to “request President Bola Tinubu to present a fresh supplementary appropriation bill, to redirect the N110 billion to address the situation of the over 20 million out-of-school children in Nigeria, for the approval of the National Assembly.”

This disclosure is contained in a letter dated July 15, 2023, and signed by the Deputy Director of SERAP, Kolawole Oluwadare, where he noted that this travesty and apparent conflicts of interest and self-dealing by members of the National Assembly must stop.

According to reports;

• “While N70 billion ‘support allowance’ is budgeted for 306 new lawmakers, only N500 billion worth of palliatives is budgeted for 12 million poor Nigerians.
• N40 billion is also allocated to buy 465 Sports Utility Vehicles (SUVs) and bulletproof cars for members and principal officials.”

SEARP to sue NASS within 7 days if.

SERAP said it was a fundamental breach of their fiduciary duties for members of the National Assembly to arbitrarily increase their budget and to use the budget as a tool to satisfy the lifestyle of lawmakers.

The letter from SERAP partly reads,

• “It is a grave violation of the public trust and constitutional oath of office for members of the National Assembly to unjustifiably increase their budget at a time when over 137 million poor Nigerians are living in extreme poverty exacerbated by the removal of fuel subsidy.
• “We would be grateful if the recommended measures are taken within seven days of this letter’s receipt and/or publication. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the National Assembly to comply with our request in the public interest.
• “Rather than exercising their constitutional and oversight functions to pursue the public interest by considering bills to improve the conditions of the over 137 million poor Nigerians who are facing the impact of the removal of fuel subsidy, the lawmakers seem to be looking after themselves.
• “According to reports, no fewer than 107 units of the 2023 model of the Toyota Landcruiser and 358 units of the 2023 model of Toyota Prado would be bought for the use of members of the Senate and the House of Representatives respectively.
• “The planned purchase is different from the official bulletproof vehicles expected to be purchased for the four presiding officers of the National Assembly.”

N110 billion different from already provided N281 billion

It said;

• “The proposed spending of N110 billion by members of the National Assembly is apparently on top of the N281 billion already provided for the lawmakers in the 2023 National Assembly budget. The proposed spending is also different from the N30.17 billion budgeted for the ‘inauguration expenses’ for new members.
• “SERAP is concerned that the budget for the National Assembly may further be increased as members are reportedly demanding an upward review of their salaries and allowances purportedly to offset the impact of the removal of fuel subsidy.
• “Section 14(2)(b) of the Nigerian Constitution of 1999 [as amended] provides that, ‘the security and welfare of the people shall be the primary purpose of government.
• “Under Section 16(1)(a)(b), the National Assembly has the obligations to ‘harness the resources of the nation and promote national prosperity and an efficient, a dynamic and self-reliant economy’, and to ‘secure the maximum welfare, freedom and happiness of every citizen.
• “Section 18 of the Constitution of Nigeria provides among others that: ‘Government shall direct its policy towards ensuring that there are equal and adequate educational opportunities at all levels.
• Government shall strive to eradicate illiteracy; and to this end, Government shall provide (a) free, compulsory, and universal primary education.
• “The proposed spending of N110 billion by members of the National Assembly is a fundamental breach of the Nigerian Constitution and the country’s international human rights obligations.
• “Nigerians have a right to honest and faithful performance by their public officials including lawmakers, as public officials owe a fiduciary duty to the general citizenry.
• “Cutting the N110 billion from the budget of the National Assembly would be entirely consistent with your constitutional oath of office, and the letter and spirit of the Nigerian Constitution, as it would promote efficient, honest, and legal spending of public money.
• “Under international law, states are required to progressively implement socio-economic rights including the right to quality education commensurate with the level of resources available.
• Gross misallocation of resources to the detriment of the enjoyment of the right to quality education can constitute a human rights violation.”

 [Nairametrics]

The Ohanaeze Ndigbo socio-cultural organisation has urged President Bola Tinubu to declare a state of emergence over the sit-at-home order in the Southeast.

Ohanaeze said declaring a state of emergency would send a strong signal to the Southeast governors, who would now be compelled to find a lasting solution to the order.

DAILY POST recalls that a Biafra agitator, Simon Ekpa, had severally declared sit-at-homes in the Southeast.

The order by Ekpa had aggravated the crisis in the Southeast, a situation that had led to an attempt to cripple the economic activities of the region.

Reacting, Ohanaeze’s Secretary-General, Okechukwu Isiguzoro, said the body would not allow Ekpa to destroy the economic activities of the Southeast.

Speaking with DAILY POST, Isiguzoro said: “A desperate moment needs desperate action. We want to warn again that Ohanaeze will not fold its arms and allow miscreants to destroy economic activities in the Southeast.

“If possible, where this sit-at-home is happening should be declared a state of emergency. This is what Tinubu would do that will make the Southeast governors sit up and find a lasting solution to the problem.

“Ekpa has declared a second Biafra War, which Igbos are not ready to fight. Igbos are supporting Tinubu and would assist in ensuring that this rebellion is squashed.

“Ekpa’s action is an attempt to divide Igbos, and we wonder why Peter Obi and the rest are not talking. We hope this is not a conspiracy against the president.”

[DailyPost]

Two significant events will take place on July 28 in Lagos. The first will be the unveiling of the historic Sports Diplomacy Wall of Fame at the Nigerian Institute of International Affairs (NIIA); the other will be a gathering of great sportsmen and women who would shine like a million stars at a gala evening at Eko Hotel and Suites, Victoria Island, Lagos.

The backstory of these two events revolves around Segun Odegbami, the famous footballer with the sobriquet, “Mathematical”, in view of his brilliant moves and scoring prowess when he played  in the far right position with his No 7 jersey for the national football team, the Green Eagles.

It was in 1980 that Nigeria lifted the Africa Cup of Nations Cup for the first time inside the mainbowl of the National Stadium in Lagos after beating the Desert Warriors of Algeria 3 – 0. Odegbami – an incisive columnist and analyst, also known as “Big Seg” – was a member of that historic conquering team. 

The other players were Christian “Chairman” Chukwu (captain), Felix “Owoblo” Owolabi, Henry Nwosu, Adokiye “Chief Justice” Amasiemeka, Mudashiru Lawal, Best Ogedengbe, Tunde Bamidele, Godwin Odiye, Alloysius Atuegbu and Okey Isima.

But four years earlier in 1976, a Nigerian contingent of athletes had landed in Montreal, Canada for the Olympic Games, and they looked forward to winning laurels and becoming famous. The Olympic Games can catapult an athlete to unbelievable heights with mouth-watering endorsements in equal measure.

After the Nigerian athletes had spent a week in camp preparing for the games, the military government at the time decided to boycott the games to protest the apartheid regime and racism in South Africa.

The announcement was made on the eve of the opening of the games; so, you could imagine the shock and disbelief in the camp. To send a strong a message to the rest of the world that Nigeria was not joking, 27 other African countries joined Nigeria to boycott the games and all the athletes returned home.

Nigeria’s voice was strong and respected in global affairs, and sports was used as an instrument of international diplomacy. Nigeria invested heavily to support South Africa in the fight against apartheid. Will these sports heroes be forgotten forever? That would not be a good idea. Odegbami, convinced that he had a brilliant idea of recognising and celebrating these great Nigerians, spoke to Allen Onyema, the Chairman/CEO of Air Peace.

Onyema who is quick to spot a brilliant initiative when he sees one told Odegbami that he would sponsor the twin events of July 28. A press conference followed and we now have less than two weeks to the momentous events.

Apart from being the convener of the events, Odegbami would also be a recipient of the prizes as one of the sports heroes that should not be forgotten. Those to be honoured are the Olympic contingent to the Montreal Games and the 1980 Green Eagles players.

These great sports heroes – the list includes Charlton Ehizuelen, Davidson Andeh, Obisia Nwakpa, Dele Udoh, Godwin Obasogie – made a huge sacrifice that was unprecedented in Olympic history. Nigeria’s move to champion an African boycott of the games led to the end of apartheid in South Africa and the release of Nelson Mandela – the symbol of the struggle – from prison after 27 years.

Mandela became the first black president of South Africa after the clutches of apartheid were dismantled and FIFA granted the country the rights to host the World Cup in 2010. 

At the Wall of Fame at NIIA, all the sports heroes would have their names written in gold. Under the leadership of Professor Eghosa Osaghae as director general, NIIA embraced the initiative and agreed to collaborate with Air Peace that funded the construction of the Wall of Fame – a laudable and historic monument.

However, about half of the 1976 Montreal Olympics contingent from Nigeria, according to Odegbami, have passed on, while six of the 1980 Green Eagles team have also died. About 10 of the honourees will be flying into Lagos from their base in the United States. 

After 47 years in the limbo, recognition has come through Segun Odegbami’s initiative that Air Peace has proudly identified with as sponsor. According to Onyema, the Chairman of Air Peace, these athletes who are still alive would not only be honoured and celebrated, they would also be named “Air Peace Ambassadors” and enjoy the airline’s 12 complimentary return tickets on domestic routes annually and one international flight to any of the airline’s foreign destinations until they pass away, in addition to a special cash reward that would be announced at the gala event holding on July 28.

“These athletes were already in Montreal before their dreams were cut short,” Odegbami reminded me in a telephone conversation. “History will be kind to Onyema for his generosity and kindness,” the former Green Eagles player added.

Onyema feels strongly that the national team that won the Africa Cup of Nations in 1980 were patriotic and worked together as a team. “The victory over Algeria was the best balm at the time to unite Nigerians after the civil war,” Onyema remarked at the press conference.

As a patriotic Nigerian who is committed to the task of nation-building and a Nigeria that works for everyone, Onyema enjoys supporting impactful humanitarian gestures. He set new standards in philanthropy when he airlifted Nigerians who were stranded in different parts of the world back home free-of-charge.

During Covid-19 outbreak, Xenophobic attacks on Nigerians in South Africa and the war of attrition in Sudan, Air Peace evacuated Nigerians from China, Malaysia, Indonesia, Thailand, India, UK, South Africa and Sudan, and brought them home safely.

Long before former president, late Umaru Musa Yar’Adua, established the Amnesty Programme to bring about peace in the troubled Niger Delta region, Onyema was already in the creeks working with the militants through a self-funding humanitarian gesture to prevent further attacks on our oil facilities.

Rather than thank Allen Onyema, a detribalised Nigerian for that matter, for his kindness and humanity, former aviation minister, Hadi Sirika, using the free airtime he was given by Arise News to explain the stories swirling around Nigeria Air, told the world that Air Peace was a debtor-airline that “lacked capacity.” 

What is his problem with Air Peace? Sirika knew he was not telling the truth and he played aviation politics of the virulent kind on national television. He struggled hard to denigrate Air Peace which is easily Nigeria’s leading airline.

From available records, Air Peace has over 30 aircraft in its existing fleet and the airline placed an order for 13 brand new E2-195 aircraft, and another firm order of 15 Boeing 737 Max 8 and 10.

Onyema had his chance on the same TV station to hit back at Sirika, saying that Nigeria Air was a charade and that President Bola Tinubu should discontinue the project. 

In an earlier press statement, Air Peace refuted the claims by Sirika, describing them as “spurious.” The statement indicated that Air Peace has three Boeing 777 aircraft which were not leased or rented but purchased outrightly by the airline.

Air Peace, the statement further explained, also did not stop flying to Dubai because of “lack of capacity.” Air Peace has been flying into UAE since 2019, but in October 2022, the UAE government announced a total visa ban on Nigerians which has not been lifted.

According to the Air Peace statement, neither Emirates nor Air Peace is operating the Nigerian-UAE route since the ban. “The persisting non-issuance of visas and the accompanying inconveniences necessitated the suspension of our Dubai operations from November 22, till date,” the statement said.

Sirika knows that running an airline is not a child’s play in the kind of turbulent environment that exists in the industry. So many airlines were launched with fanfare but they have literally dropped out of the skies. It is a long list and Sirika can name them.

It was on October 24, 2014 that the inaugural flight of Air Peace took off from the Murtala Muhammed Airport, Lagos. Air Peace launched its operations eight years ago with fleet of seven aircraft – that was a record. The airline operated 14 flights between Lagos and four destinations, including Abuja, Port Harcourt, Enugu and Owerri, carried over 300 passengers on its first day of operations. 

Now that we don’t have a national carrier, Air Peace has conveniently filled that vacuum, in spite of the challenging business environment. Nigerian airlines struggle with multiple taxation, unfavourable government policies, scarce foreign exchange, rising cost of importation, and dilapidated airport infrastructure while regulatory agencies politicise their oversight responsibilities.

Apart from flying many domestic routes and carrying more passengers than any other airline, Air Peace has expanded its regional and international routes and it prioritises passenger safety.

The airline remains resolute and, in my view, it will continue to be a force to be reckoned with in the aviation industry in the years ahead.

Braimah is a global public relations and marketing strategist. He is also the publisher/editor-in-chief of Naija Times (https://ntm.ng) and Lagos Post (https://lagospost.ng), and can be reached via This email address is being protected from spambots. You need JavaScript enabled to view it..

The Ogun State Government has joined its counterparts across the world to commemorate the International Day of Cooperatives, applauding the immense contributions of Cooperative Societies to the socio-economic development and prosperity of the State.

The Governor of Ogun state, Prince Dapo Abiodun, said the theme of this year’s celebration “Cooperative: Partners for Accelerated Sustainable Development” spoke to the need for all hands to be on deck to fast track the process of reversing the negative effects of fuel subsidy removal on the economy and people’s livelihoods.

The governor stated this at Moshood Kashimawo Abiola (MKO) Stadium, Kuto, Abeokuta, while addressing members of the Cooperative societies in commemorating of their International Day of Cooperative.

He said, “In recognition of the active roles played by Cooperative Societies in our economy, particularly in the area of promoting brotherhood, good neighbourliness, economic freedom and self-realisation, our government has facilitated series of programmes aimed at encouraging more people to imbibe the spirit of cooperation and be active participants in both formal and informal sectors of our economy”.

Abiodun, represented by the Deputy Chief of Staff, Dr. Oluwatoyin Taiwo stated that to ease the pains of fuel subsidy removal, the present administration would soon roll out a series of measures to support Small and Medium Enterprises (SMEs) and palliative to cushion the effect.

He enjoined individuals and societies in the State to embrace best practices in the management of their affairs and deepen collaboration with the State government to take full advantage of opportunities to be provided in the critical sectors, including agriculture.

In his address, the President, Ogun State Cooperative Federation Limited (OGSCOFED), Alhaji Wasiu Olaleye said that the State's Cooperative societies provided credits facilities for more than twenty six percent (26%) of Micro Small and Medium Enterprises (MSMEs) in the State.

He said that International Cooperative Day was aimed at strengthening and improving the cordial relationship between cooperative and other key players in the country, noting that this year's event celebrated branch by branch to create awareness at local base, in oder to send signal to the local administrator for postive contribution.

He said "Cooperative are businesses owned and run by people who share a common goal, and have a global impact and a human touch, they support sustainable development by giving people the opportunity to access financial services and earn a decent income".

In his goodwill message, the President, Cooperative Federation of Nigeria (CFN), Head of Cooperative Movement in Nigeria, High Chief Tajudeen Adeola said that this day was to appreciate and celebrate the achievement of Cooperatives in Nigeria, saying that it was imperative to advocate for more funds for the cooperators in the country. 

He implore the state government to disburse funds for the cooperatives in the state, so as to make them more active in the comity of Cooperative society in the country.

"Ogun state Cooperative society is second in Nigeria after Lagos, especially in terms of contributions, disbursement and active participation, we are imploring the state government to disburse more funds for the Cooperative societies in Ogun, so as to remain active and encourage more contributors and societies to be involved", Ayeola said.

Also, South-West Cooperative Leader, President Odua Cooperative Conglomerate, Elder Felix Ajibode, appreciated the state governor, Prince Dapo Abiodun for his moral and financial support towards the Cooperative society in the state.

He noted that the State's Cooperative societies was always known for the good and best in term of contributions, noting that they should sustain the temple for the growth and development of the entire cooperative societies in the country.

In his welcome address, the Permanent Secretary, Ministry of Community Development and Cooperative, Alhaji Kolawole Ogunlana, noted that the Cooperative society contributed immensly, meaningfully to the growth and development of the socio-economic of the country.

He said that the state government would continue to contribute its quota to the growth and development of the Cooperative in order to remain active, noting that Cooperative was engine room to both micro and medium-scale enterprises of any society. 

The removal of fuel subsidy by President Bola Ahmed Tinubu on the first day of assumption of office was ill-timed, out-rightly ill-advised and uncalled for. The president and his team was in a better position to understand that without an enabling environment, a team on ground to drive policies, decisions made without right thoughts are always counter-productive. Nigeria is unfortunately a nation where government does not function as expected even when a team is in place let alone when there is none.

The decision had upon announcement immediately jolted the foundation of the market forces and sent shock waves through the fabrics of the general economy. Consequently, the people exposed to unimaginable hardships. Everyone is sad, pained and disenchanted as cost of goods and services increased exponentially and still increasing. The exchange rate and inflationary trend leaves everyone in awe. Even the rich and politicians are crying!

A nation and its citizens almost asphyxiated under the abysmal performance of the immediate past administration of Muhammadu Buhari should have been allowed a moment to breathe fresh air. The people never got such needed reprieve. As usual, those in government who eat free of charge from our general purse, rarely go to market or fuel stations who took the decision never put into consideration the cumulative ripple effect of the policy on the people and economy. 

Amongst the myriads of problems confronting Nigeria, fuel subsidy was a creation of the political class and can be stopped by any serious minded government without necessarily creating undue hardship for the people. It is still a mystery to note that names of the beneficiaries of this fraudulent process is still shrouded in secrecy. The exact amount spent on subsidy from 1999-2023 is still in the realm of conjectures. Security agencies are only at work to unearth the mystery around subsidy scam when someone in the bad book of government deserves to be punished or humiliated.

Providing palliatives to cushion the effect of harsh policies of government or disasters has become a trend of governance in Nigeria. However, one sore and sour point of announcing and rolling out palliatives is its lack of positive or visible impact on the lives of the people. During the COVID-19 lockdown, hungry and unemployed citizens most especially youths have to break into warehouses almost throughout Nigeria where palliatives donated by international organizations and bodies for the people was stashed away from public knowledge by greedy politicians. The problem with almost all the citizen driven interventions in Nigeria lies not in its announcement or amount of funds approved but the way and manner of implementation. Another issue is the sub-heads under which funds are allocated. 

There are several odds against this N 500bn Palliatives proposed by government. First, there is no long term plan or concrete measures to cushion the effect on the lives of citizens who are already broke and pushed to the wall by the harsh economic realities on ground. The planned implementation period according to government will last for six months only. What happens afterwards? Will the nation attain self-sufficiency in local production of fuel and stop importation after six months? Are there immediate plans to make the moribund refineries working? Second, due diligence was not carried out on what constitutes better measures to take, owing to the way and manner the removal was abruptly carried out and pressure on government to provide succor or needed alternative. 

Third, payment of eight thousand naira to 12 million households is simply cosmetic just like the previous ones. How did government even arrive at the numbers? What could eight thousand naira possibly do for a family in one month? What is the mode of payment? How does government ensure transparency? Fourth, viral documents on social media detailing how monies were allocated to agencies of government like N70bn for the new members of the National Assembly and N35bn for the National Judicial Council (NJC) call for public scrutiny. 

How dolling out such humongous amount to the two bodies above will impact on the general wellbeing of the people is yet to be ascertained. There are strong beliefs in certain quarters that allocating money to the above organs of government especially the NJC has more to do with bribing judicial officers and influencing the outcome of the ongoing Presidential Election Tribunal Court sitting over the disputed 2023 presidential elections currently being challenged by Peter Obi and Atiku Abubakar, the presidential candidates of Labour Party (LP) and the Peoples' Democratic Party (PDP) respectively.

The government is invited to genuinely embark on long term measures aimed at stemming the tide of hardship instead of towing the same old fashioned cosmetic lines of the previous administration which is open to corrupt enrichment of those in charge. First, the nation should shift more to production and consumption of local goods including patronage of local services as a way of whittling down the high demand of the dollars. The demand for importation of foreign goods and services has to also reduce as a way forward. Second, we are an oil producing nation thus have no business refining our petrol abroad and then pay to bring it back home under any guise. 

Our local refineries should be made to function while more should be built. What does the nation gain from removing fuel subsidy and giving someone who claim to have completed a refinery the sole license to import fuel? Third, government should have thought of injecting the cumulative of N97bn amounting to payment of Eight Thousand Naira per month earmarked for 12 million households into buying transportation buses and hand them over to credible stakeholders or industry operators with a robust ticketing and payment system capable of bringing return on investment within five years.

Fourth, small and medium scale enterprises with the capacity to employ a number people should have been supported with free interest loans as a way of encouraging employment creation. The period of repayment could be spread over ten years. It is better to avail people of nets to catch the fish rather than giving them only fish. Fifth, government should identify poor rural bulk billed communities throughout the country and settle their electricity bills for at least one year to ease their burden. The past administration claimed to have provided palliatives worth trillions of Naira to cushion the effect of COVID-19, flooding and others but it has remained a classic example of failure as peoples' condition remained the same afterwards. This one should be different.

Sunday Onyemaechi Eze a Media and Communications Specialist. He wrote via This email address is being protected from spambots. You need JavaScript enabled to view it. and can be reached on 08060901201

The longest road you’re going to have to walk is from here to here.

In June the United Nations’ Sustainable Development Solutions Network published its Sustainable Development Report 2023, which tracks the progress of the 193 member states towards attaining the seventeen Sustainable Development Goals (SDGs). ‘From 2015 to 2019’, the network wrote, ‘the world made some progress on the SDGs, although this was already vastly insufficient to achieve the goals. Since the outbreak of the pandemic in 2020 and other simultaneous crises, SDG progress has stalled globally’. This development agenda was adopted in 2015, with targets intended to be met by 2030. However, halfway to this deadline, the report noted that ‘all of the SDGs are seriously off track’. Why are the UN member states unable to meet their SDG commitments? ‘At their core’, the network said, ‘the SDGs are an investment agenda: it is critical that UN member states adopt and implement the SDG stimulus and support a comprehensive reform of the global financial architecture’. However, few states have met their financial obligations. Indeed, to realise the SDG agenda, the poorer nations would require at least an additional $4 trillion in investment per year.

No development is possible these days, as most of the poorer nations are in the grip of a permanent debt crisis. That is why the Sustainable Development Report 2023 calls for a revision of the credit rating system, which paralyses the ability of countries to borrow money (and when they are able to borrow, it is at rates significantly higher than those given to richer countries). Furthermore, the report calls on the banking system to revise liquidity structures for poorer countries, ‘especially regarding sovereign debt, to forestall self-fulfilling banking and balance-of-payments crises.

It is essential to place the sovereign debt crisis at the top of discussions on development. The UN Conference on Trade and Development (UNCTAD) estimates that ‘the public debt of developing countries, excluding China, reached $11.5 trillion in 2021’. That same year, developing countries paid $400 billion to service their debt – more than twice the amount of official development aid they received. Most countries are not borrowing money to invest in their populations, but to pay off the bondholders, which is why we consider this not financing for development but financing for debt-servicing.

Reading the UN and academic literature on development is depressing. The conversation is trapped by the strictures of the intractable and permanent debt crisis. Whether the issue of debt is highlighted or ignored, its existence forecloses the possibility of any genuine advance for the world’s peoples. Conclusions of reports often end with a moral call – this is what should happen – rather than an assessment of the situation based on the facts of the neo-colonial structure of the world economy: developing countries, with rich holdings of resources, are unable to earn just prices for their exports, which means that they do not accumulate sufficient wealth to industrialise with their own population’s well-being in mind, nor can they finance the social goods required for their population. Due to this suffocation from debt, and due to the impoverishment of academic development theory, no effective general theoretical orientation has been provided to guide realistic and holistic development agendas, and no outlines seem readily available for an exit from the permanent debt-austerity cycle.

I have quoted copiously from my friends at Tricontinental: Institute for Social Research, where they are eager to open a discussion about the need for a new socialist development theory – one that is built from the projects being pursued by peoples’ movements and progressive governments.

In the outgone week, the House of Representatives approved the N500 billion requested by Mr. Tinubu for the provision of palliatives to mitigate the impact of petroleum subsidy removal on Nigerians, amending the 2022 Supplementary Appropriations Act as requested by the president. Mr Tinubu had in a letter asked the National Assembly to amend the 2022 Supplementary Appropriations Act by extracting N500 billion to provide palliatives.

The lower chamber considered the amendment bill and passed it. Meanwhile, the President said 12m families will get N8, 000 over a period of six months to ameliorate the hardships faced by Nigerians as a result of subsidy removal. According to a letter to the House of Representatives read by Speaker Tajudeen Abbas during plenary on Tuesday, Tinubu said it was to enable poor and vulnerable Nigerians cope with the cost of meeting basic needs. The letter was for approval of additional financing for the national social safety net programme scaled up by the National Assembly. The President said this would have a multiplier effect on about 60 million individuals.

I should have done this first but it is never late, let me first issue a caveat, I am not a finance expert, an economist, or auditor, I am not a banker, I have not held the post of cashier, or treasurer. My mathematics is poor, but I know one plus one is equal to two. I also know money magic when I see one...however, in the light of all the economic jargon above I say with a sense of full respect for the office of Mr. President of Nigeria that the current route being taken would not work, we have gone that way before but met with a jam lock, we have gone there before and discovered it was a scam, we have passed that route and it leads nowhere.

I won’t go into explaining how such a humongous sum could be better utilized or how it could solve transportation problems for example or the logic of subsidy removal and borrowing again, the World Bank and their policies, I won’t go into the debate of the merits and disadvantages. I won't risk sounding pedestrian, but I will end with this short story.

It's a slow day in little Tensleep, Wyoming. The sun is beating down, and the streets are deserted. Times are tough, everybody is in debt, and everybody lives on credit...

On this particular day a rich tourist from back east is driving through town. He stops at the motel and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs in order to pick one to spend the night. As soon as the man walks upstairs, the owner grabs the bill and runs next door to pay his debt to the butcher.

The butcher takes the $100 and runs down the street to retire his debt to the pig farmer. The pig farmer takes the $100 and heads off to pay his bill at the supplier of feed and fuel.

The guy at the Farmer's Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her "services" on credit. The hooker (prostitute) rushes to the hotel and pays off her room bill with the hotel owner.

The hotel proprietor then places the $100 back on the counter so the rich traveller will not suspect anything. At that moment the traveller comes down the stairs, picks up the $100 bill, states that the rooms are not satisfactory, pockets the money, and leaves town.

No one produced anything. No one earned anything. However, the whole town is now out of debt and now looks to the future with a lot more optimism. This is voodoo economics, don’t ask how it works, if it works, when it will work, who it works for, no one earned anything, it's just from here to here, , like it is said in common place what do we know—May Nigeria win!

With politics since over, time now is for governance. Not just governance, but good governance. And of course, a government delivers good governance only if it is deliberately committed to “accountability, leadership, integrity, stewardship and transparency”, or simply, if it is evidently citizens-oriented. 

Then again, of the three arms of government, the legislature is the one central to good governance. Its core functions begin and end with good governance. And even by configuration, it is the closest to the people, connecting them to the government. So, the legislature is indeed the people’s shield and advocate.

Hence, as Nigerians are already in a hurry to see the ultimate manifestations of the promises of the 2023 general elections all eyes are now on the legislature.

Most families can no longer feed adequately, basic health care and education, including transportation, are increasingly becoming unaffordable and also, insecurity is growing geometrically. These and many more are gaps yearning for good governance.

But the question is: how prepared and well-equipped is the 10th national assembly relative to this task of dispensing good governance?

By the constitution, the 10th national assembly is ill-equipped. The laws are beset with several limitations that greatly weaken the positions of the parliament, particularly in the exercise of checks and balances on the executive. The weak constitution renders the legislature powerless and protects the presidency all-round. It equally offers the governing political parties undue latitudes to influence the legislature. 

So except with a president who is deliberate in cooperating with the legislature, the 10th national assembly is already undermined sequel to the imbalance in strengths among the arms. It is such that even if the legislature insists on its ideal roles and responsibilities, there will only be a state of anarchy as both arms will ‘justifiably’ fight always to preserve their powers and authority. There are no clear-cut mechanisms in the constitution to check executive breaches and abuses.

Thus, the extent to which the legislature is in cooperation or hostility with the executive determines the quality of governance dispensed. 

But if the well-being of the people is the ultimate goal of governance, then collaboration is a valid option, provided that the relative independence of the arms is recognized and respected. Besides, the mark of a responsive government is the willingness and ability to make sacrifices and or do whatever is necessary, within the ambit of the laws, to offer a quality life to the people.

And in this regard verifiably, the 10th national assembly has demonstrated immense determination borne out of a deliberate commitment to the public interest. 

Going by the legislative activities so far, notably the resolutions, the 10th national assembly is in tune with the mood of the moment. It truly understands that Nigerians today yearn for only actions that bear assurances that the government cares about them. Both chambers are remarkably mobilized and upbeat as regards the people’s expectations. 

And then by way of impetus to this public-oriented disposition, there is this rare blend of executive and legislative leadership antecedents that characterizes the dramatis personae in both the presidency and the national assembly including also the ruling APC, which portends a viable opportunity for good governance.

The president and vice as well as the secretary to the government of the federation, who incidentally is the head of the cabinet ministers, are former state governors and senators of the federal republic. More interestingly, the presidential home-keeper, the first lady, and the two gate-keepers, the chief of staff and deputy, are alumni of the national assembly.

Similarly, the national chairman of APC, also a former governor, alongside the deputy, and the secretary, who equally is an ex-deputy governor, had all served as senators.

Then again, the head of the federal legislature, wearing two hats as the president of the senate and the chairman of the national assembly, was at different times before now, governor, senator and minister.

And instructively as well, it is likely that the federal executive council would feature some past legislators.

So predictably, these would culminate in a home-grown hybrid governance model defined by among others, shared vision, consensus-building, sustainable collaboration, mutual respect for boundaries, empathy, and commitment to institutional and legislative strengthening as well as unity of purpose. 

Clearly these basic catalyses for good governance are to the advantage of the legislature. At least, the highly-influential presidency and the governing party, apart from being pleased with the choice of the parliamentary presiding officers, would objectively, on all issues of governance, deploy their priviledged knowledge of the constitutional limitations undermining the legislature. And in the end, the masses are the ultimate beneficiaries.

Thus, with the formation of the federal cabinet in a few weeks, the stage would have been fully set for the delivery of this much-anticipated good governance.

Once again, the 10th national assembly is not just fully abreast of the citizens’ expectations but is self-motivated and well-prepared.

While the president of the senate, Godswill Akpabio, declared that “it is time now to go forward with the task set before us as a collective body – the promulgation of laws and enactments for the well-being and security of the country and as a check on the executive arm”, the speaker of the House, Tajudeen Abbas, announced that “we shall work closely and inter-dependently with the Executive and Judiciary to give Nigerians the good governance they deserve……. We will champion legislation that will uplift the lives of our fellow citizens, promote social justice, and drive sustainable development”.

Buoyed by the truism that security is consequential to the overall well-being of the country, Abbas added that “we will focus on strengthening our security apparatus, collaborating with relevant stakeholders to combat insurgency, terrorism, and all forms of criminalities. We aim to help create a safe and secure environment that fosters economic growth and social stability”.

On the economy, they both have enough up their sleeves. 

Mr Speaker elaborated further that “through legislation, the 10th House will promote entrepreneurship and support small and medium-scale enterprises. We shall diversify our economy and provide sustainable employment opportunities for our youth. We are aware of the challenges in our education, healthcare, and infrastructure sectors amongst others”.  

Meanwhile, Senator Akpabio had hinted that “we will, as a forward-looking Senate, pass laws that emphasise economic viability, social acceptability and environmental sustainability, to encourage alternate and green technologies without prejudicing our developmental needs”.

Then towards mitigating the lapses in the constitution that largely restrict the legislature, the honourable speaker was unambiguous that “we will work in harmony with the executive arm, while upholding principles of checks and balances. Our collaboration will be anchored on the principles of transparency, accountability, and respect for the rule of law”. 

Similarly, the senate president observed that because president Bola Tinubu has within this very short period in office proven his commitment “to a strong economy, national security, inclusion and the rule of law………..We should, therefore, anticipate an executive that is proactive, progressive and practical”. 

He was also unequivocal that “our laws must, therefore, align with the vision of Mr President to protect and provide for our people at the innermost core of their essence while our actions must also guarantee the best and most efficient use of our national commonwealth”.

Continuing, Senator Akpabio stressed that conscious and sustained attention must be accorded to “gender matters, with specific affirmative provisions to guarantee women’s inclusivity” as well as “issues relating to persons with special needs and equality”. 

He was equally enthusiastic about “engaging, empowering and rewarding our resourceful and innovative youths in terms of protection of intellectual innovations and property, and improved access to finance for technological start-ups” adding that “we must recognise and prepare for a mid-21st century global economy that places a premium on intellectual content and knowledge, and our young men and women must be supported to engage competitively”.

Furthermore, Akpabio listed as a priority area, “expansion of the revenue streams available to the country, especially from our huge but largely unregulated natural and solid mineral resources base, while insisting that “these additional sources of revenue will build the nation’s resilience to shocks and stresses resulting from the fluctuation of oil prices in the international market;

And then, in conclusion, both leaders have words of covenant for the country. 

While the president of the senate vowed to Nigerians that “your dreams, your aspirations, and your well-being will be at the heart of everything we will do in this Senate”, Rt. Hon. Abbas pledged that “we hold our respective offices in trust for the Nigerian people. We MUST, therefore, justify the confidence reposed in us by our constituents to represent their interests and work committedly for our dear nation”.

Although it has become a ritual to hear appealing speeches at every turn of the inauguration of presiding officers, what is significant in this case is the exceptional courage to frontally speak to the issues and show pragmatic resolve to tackle them. Nothing can be more reassuring. A problem identified they say, is a problem half-solved. Above all, and given the deliberate adoption of bipartisanship as well as the promotion of national interest consciousness in legislative business, as seen majorly on the motions so far, the 10th national assembly is not ready to incur the citizens’ ill will. The leadership is mindful that their public profile and reputation depend on the offices they occupy today. The legislators are aware that they would run into landmines if they fail their constituents especially now that every quality of leadership is a direct challenge to the democratic will of the people. 

Therefore, well-meaning Nigerians should rise beyond ethnicity, partisanship and religion to embrace this assembly with all the support and cooperation necessary for excellence. If you expect the right things always from the government, then do the right things always for the government. Even in the face of the porous constitution, the legislature can still deliver, if only the people are in firm partnership with it basically through timely and useful information as well as relevant questions. For it is only by constantly reminding these elected representatives of their words that our mandate can fetch us the desired dividends.

So to you public-spirited Nigerians desirous of a new order: now the ball is in your court! And then to the 10th national assembly: the days, weeks and months ahead shall offer you the ultimate test. But in the meantime, the clock is already ticking and you cannot afford to disappoint.

Egbo is a parliamentary affairs analyst

A report a few days ago that Nigeria recorded a negative Foreign Direct Investment (FDI) inflow in 2022 is indeed a worrisome pointer to the persisting unattractiveness of the country’s investment climate. According to the United Nations Conference on Trade and Development (UNCTAD) world investment report released early July 2023, Nigeria “experienced negative (-$187 million) inflows due to equity investments.” Following this trend too, first quarter 2023 capital inflow into the country also dropped significantly by 28 per cent, from US$1.573 billion in the first quarter last year to US$1.132 billion (year-on-year). According to the report released by the National Bureau of Statistics (NBS), the bulk of the capital inflow (in the first quarter 2023) was from portfolio investment (57.32 per cent); ‘other investments’ accounted for 38.31 per cent while FDI was merely 4.20 per cent.

The NBS explained that the decline in capital importation can be attributed to “a variety of factors, including the prevailing global economic uncertainty as well as the persistent political instability within Nigeria.” The NBS said “these factors have likely contributed to a cautious approach among foreign investors, leading to a decline in capital inflow.” Although these statistics (of FDI inflows) are for 2022 and first quarter 2023, current trends and near-future situations in Nigeria are unlikely to be anything different. Indeed, as implied by the NBS, capital importation (FDI and Foreign Portfolio Investment, FPI) is largely a function of the economic climate of a recipient country. Therefore, the decline in FDI (especially a negative level) is an ugly testimonial of a poor and deteriorating investment climate for any nation. And in this case, Nigeria!

The UNCTAD report and the NBS data therefore serve as a timely indictment of the Government of Nigeria and its propaganda on so-called improvement of ease of doing business in the country in the past several years. In point of fact, on the contrary, Nigeria’s investment climate has been getting gloomier and uncompetitive; with numerous businesses fleeing the shores of the country to more enabling and attractive environments. Whether in the manufacturing sector, the aviation industry, shipping and logistics business or the hospitality or automobile sectors, the Nigerian economy has been experiencing an exodus.

Specifically, not a few of the International Oil Companies (IOCs) have left the shores of Nigeria (either fully or in part) in the past few years. Some left on grounds of “energy conversion” for greener pastures while others got practically suffocated by the stifling business environment. Local operators or entrepreneurs who acquired these businesses (in full or part) are yet grappling with the scorching and uncertain terrain in Nigeria.

Today, if any sector is in distress, it is the aviation industry—where for a whole eight years, the Federal Government of Nigeria under President Muhammadu Buhari kept struggling to ‘re-start’ the defunct Nigerian Airways. The effort ended up a huge fraud—with nothing to show for it, while billions of dollars (of public funds) went down the drain. The story of foreign airlines operating in Nigeria and whose well-earned revenues running into hundreds of millions of dollars remain trapped in the country—sends all the ugly signals to the world. Deep-seated corruption within the officialdom is yet prevalent in the industry: it accounted for the quick exit of the otherwise reputable Virgin (Atlantic) Airlines from Nigeria. Virgin that entered into a Memorandum of Understanding (MoU) to emerge as the country’s national carrier was ‘sabotaged’ even by the bureaucrats of the Federal Government. Who wants to invest in the aviation industry today?

Despite pretensions to the contrary, time there was, when the industrial sector in Nigeria was really booming: Nigerians rode in locally assembled cars, buses and trucks. Volkswagen Automobiles produced cars in its Lagos plant; Peugeot cars in Kaduna; Leyland produced trucks/buses in Ibadan and ANAMMCO in Enugu also assembled buses and trucks. Dunlop produced tyres in Lagos and its plants elsewhere and Michelin tyres were produced in Port-Harcourt. In the textile industry, the giant UNTL Textile Mills in Kaduna, Chellarams, President Industries, Chanrais and many others across the country practically ‘clothed Nigerians.’ Unfortunately, none of these businesses is alive today; all are moribund, with their erstwhile huge warehouses serving mainly as places of worship!

It won’t be out of place to say that a number of factors combined to make Nigeria the ‘investment desert’ that it is today (having negative FDI in 2022). There are internal and external factors—major among them being policy somersaults by successive governments, entrenched corruption, ill-digested policies, insider abuses/sabotage, mono-product economy, insecurity, etc. External factors would include impact of globalization, global insecurity and wars, COVID-19 pandemic, among others. Successive governments in Nigeria seem not to have gotten their priorities right; thus, economy diversification always received mere lip service while the so-called infrastructural development efforts almost always turned out hollow. On the contrary, infrastructural gap has kept widening over time!

In the fiscal policy realm, for no obvious reasons, governments over the years have been creating multiplicity of taxes and levies. These now constitute serious disincentive and impediment to existing and potential investors. This is why the few-weeks-old President Bola Ahmed Tinubu administration is flagging the tax issue to, perhaps, decisively deal with the incubus. In this regard, it has empanelled the Taiwo Oyedele-led Presidential Committee on Fiscal and Tax Reform. The government has also gone ahead through Presidential Orders to suspend/postpone the effectuation of some tax laws enacted at the twilight of the President Muhammadu Buhari administration, including the Finance Act 2023.

Fittingly and properly, operators in the real sector of the Nigerian economy have interpreted the President Tinubu gesture as “shallow”, and are demanding for “absolute reversal and not suspension” of the tax laws, among others. Indeed, the Nigeria Employers’ Consultative Association (NECA) insists that the transformation of the country’s economy would require an absolute reversal of key tax measures and not just postponement. NECA Director-General, Adewale Oyerinde, who spoke at a recent Nigeria Employers’ Summit at Abuja, said the “taxes have the potential to worsen the nightmares of the organised businesses and push many into extinction.”

Truly, if the Tinubu administration is bent on turning Nigeria’s investment fortune around for good, it must deal decisively and expeditiously with the tax conundrum—that has practically stalled the country’s economic growth for long. As reported by the National Bureau of Statistics (NBS), if portfolio investment is accounting for over 57 per cent and FDI is merely 4.20 per cent of foreign investment inflow at this point in time, then Nigeria is fast degenerating into a ‘pariah state.’ But Nigeria badly needs a total transformation, well diversified and productive economy, safe and secured polity on the backdrop of minimal corruption and committed and transparent leadership. So much political will and clear-headedness is a sine qua non! The Federal government’s palliatives here and there and tokenism cannot pull out the economy from its current place far in the woods.

• The author, Mr. Okeke, an economist, sustainability expert and consultant on business strategy lives in Lekki-Lagos. He can be reached at: This email address is being protected from spambots. You need JavaScript enabled to view it.