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Pacesetting Fidelity Bank MD, Nneka Onyeali-Ikpe clocks 60
There is tremendous excitement in the air as the first female Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe clocked 60 years on Sunday July 28, given her outstanding performance in the nation’s financial services sector that had earned her respect amongst banks’ top CEOs.
Besides leading the bank to close the 2023 financial year with strong double-digit growth across key income and balance-sheet lines with profit before tax growing by 131.5% to N124.3bn from N53.7bn in 2022FY, leading to an increase in Return on Average Equity (RoAE) of 26.5% from 15.6% in 2022FY, her proactive efforts also manifested when the bank opened its N127.10bn rights issue and public offer in June, becoming the first bank to go public following the recapitalisation directive of the Central Bank of Nigeria issued in March.
This wasn’t surprising to many industry watchers, as the virtuous woman and Champion Newspapers’ 2022 Banker of the Year, has consistently advocated that “women must work hard, invest in their personal development, constantly up-skill and gain deep knowledge of their industry, for them to break the ice in their careers” adding however that it is “extremely important that we create enabling environments for women to thrive and maximise their full potential.
At the public offer and rights issue facts behind the combined offer presentation at the Nigerian Exchange Limited, she explained that the financial institution’s N127.10bn capital raising was to be considered as a pacesetter in the life of the banking industry capitalisation drive, revealing that Fidelity Bank has already started the process of raising additional capital ahead of CBN’s directive, “requiring the banks to raise a minimum capital base of N200bn for national banks and N500bn for banks with international operations like ours, amongst other capital requirements”.
Though the full report on the outcome of the bank’s public offer of 10 billion ordinary shares of 50 kobo each at N9.75 per share and rights issue of 3.2 billion ordinary shares of 50 kobo each at N9.25 per share has not been fully made public, industry experts earlier predicted a highly successful exercise given the financial institution’s recent strong financial performance and with a client base of over 8 million customers.
Born in Anambra state on July 28, 1964, Nneka joined Fidelity Bank as an Executive Director in 2015 and was appointed Managing Director/CEO of the Bank in January 2021.
According to her citation, she is an alumnus of the prestigious University of Nigeria, Nsukka and Kings College, London where she holds a Bachelor of Law and Masters of Law respectively and has also attended executive training programs at Harvard Business School, The Wharton School University of Pennsylvania, INSEAD School of Business, Chicago Booth School of Business, London Business School and IMD amongst others.
And with over 33 years of experience in investment banking, wealth management, Treasury Management, retail banking and corporate banking among others, Nneka is widely regarded as one of Africa’s leading CEOs with a reputation for “identifying talents, opportunities and executing complex business deals”.
For instance under her leadership, Fidelity Bank has been adjudged by many industry leading experts as the fastest growing bank in Nigeria while her deep understanding of complex businesses and markets has enabled the bank undertake large ticket transactions in financial advisory, structured and project finance in the real sectors as well as take advantage of opportunities in select high growth international markets where the Bank has a competitive advantage.
Significantly, she guided the bank to obtain the approval of the Central Bank of Nigeria, CBN, to expand its operations to the United Kingdom that culminated in Fidelity Bank’s acquisition of the 100 per cent equity in Union Bank UK, a subsidiary of the Union Bank of Nigeria.
Very passionate about innovation and embracing technology, Nneka towering achievements include her pioneering role in several innovative and pacesetting products such as the PayGate Plus, an online platform that enables businesses make and receive payments.
Married to Dr. Ken Onyeali-Ikpe, the workaholic has also radically repositioned the bank as the “go-to financial institution for Small and Medium Enterprises”.
Furthermore, apparently understanding the critical role of small businesses in the sustenance of economic growth and development, she led the bank to create the Fidelity International Trade & Creative Connect (FITCC) which is aimed at providing a touchpoint for exporters, regulators, subject matter experts and the market.
According to the records, the FITCC 2022 edition was attended by representatives of both the UK & the Nigerian Governments, Nigerian exporters, investors, regulators from the United Kingdom and Nigeria, the business community and other practitioners. The pipeline deals from the event was in excess of $200million. Also, over 2,000 people registered to attend the event and daily foot-fall was about 1,000.
Similarly, recall that second edition of the FITCC, held in Houston, Texas in the United States of America took place from the 24th to 25th of October, 2023 at the plush George R. Brown Convention Center, 1001 Avenida de las Americas. It was well attended too.
But in her bid to give back to the communities the Bank serves and as part of her efforts to combat the twin issues of poverty and hunger, Mrs Onyeali-Ikpe launched a National Corporate Social Responsibility initiative tagged The Fidelity Food Bank which provides free food bags to people across Nigeria on a monthly basis.
A winner of several international and national awards including Officer of the Order of the Niger, OON, Nneka has been recognized by several local and international bodies for her giant strides and such high profile recognitions include: “The Banker of the Year 2022 at the 14th Leadership Annual Conference and Awards; The Best Banking CEO Nigeria 2023 in the 2023 Global Banking & Finance Awards as well as Champion Newspapers’ 2022 Banker of the Year.
No doubt her impactful leadership and outstanding performance as CEO, had resulted in the bank bagging several laurels within and outside Nigeria some of which are: “Best Commercial Banking Brand in Nigeria by the Global Brands Magazine Awards; Best Private Bank in Nigeria by The Financial Times in association with The Banker Magazine; Global Finance’s World’s Best Private Banks 2023 awards for Best Private Bank in Nigeria and The Best Payment Solution Provider Nigeria 2023 in the 2023 Global Banking & Finance Awards amongst others.
Happy birthday to a pacesetter and accomplished banker.
Culled from Champion Newspaper website
[PRESS STATEMENT] The Right to Peaceful Protest - A Pillar of Democratic Governance
Abuja, Nigeria: In light of recent events and ongoing discussions surrounding the appropriateness of citizens expressing their dissatisfaction with government policies and actions, we, the undersigned civil society organisations, are compelled to reaffirm the fundamental right of citizens to peaceful protest as a fundamental pillar of democratic governance. This right is a cornerstone of any democratic society and a critical means for citizens to express their dissatisfaction, demand accountability, and advocate for change.
Protesting is a legitimate form of expression enshrined in international human rights instruments, including the Universal Declaration of Human Rights (UDHR), the International Covenant on Civil and Political Rights, the African Charter on Human and Peoples' Rights, and Nigeria’s 1999 Constitution (as amended), among others. It allows citizens to publicly voice their concerns, challenge injustices, and participate actively in the democratic process.
Protests serve as a vital mechanism for holding leaders accountable and ensuring that government actions reflect the will and needs of the people. History has shown that protests can lead to significant changes in government policies, processes and practices, highlighting the power of collective action to address grievances and promote good governance.
While the right to protest is a fundamental principle of democratic nations, we concede that it must be exercised peacefully and responsibly without violating the rights of others. Accordingly, we urge all parties engaged, including protest organisers, participants, and law enforcement agencies, to prioritise safety and the rule of law. Law enforcement has a duty to safeguard protesters while upholding public order. Demonstrators must avoid activities that might exacerbate tensions, cause unrest or threaten public safety.
Attempts to suppress demonstrations through intimidation, excessive use of force, or unjust legal actions are unacceptable and counterproductive. Every protest is deemed peaceful, and if intelligence indicates otherwise, it is the role of the appropriate government agencies to identify such saboteurs and arrest them immediately. Arresting protest organisers shows a lack of understanding of the enemies of the state.
We urge the Nigerian Judiciary and the National Human Rights Commission (NHRC) to uphold the rights of all protesters and establish a mechanism to promptly address and dismiss oppressive charges that may arise from these protests. The demands include reducing the cost of living, curbing insecurity, reducing the cost of governance, electoral reform, judicial reform, and constitutional reform, which are all recurring themes in Nigeria’s journey towards a healthy democracy.
We reaffirm our commitment to the principles of democracy and human rights and stand in solidarity with those who decided to exercise the right to peaceful protest.
We encourage all citizens to actively participate in shaping a just and accountable society, and we call on all stakeholders to uphold the principles of democracy, human rights, and
the rule of law.
Signed:
- 21 stCentury Community Empowerment for Youth and Women Initiative
- Accountability Lab Nigeria
- Africa Institute for Energy Governance (AFIEGO) Uganda
- BudgIT Foundation
- Centre for Accountability and Inclusive Development (CAAID)
- Centre for Inclusive Social Development (CISD)
- Centre for Journalism Innovation and Development (CJID)
- Civil Society Legislative Advocacy Centre (CISLAC)
- Dataphyte Foundation
- DigiCivic Initiative
- Enough is Enough (EiE) Nigeria
- Farnnel Women Foundation
- Gee Foundation for Social Justice and Development
- Global Rights
- Health Education and Human Rights Advocacy Initiative (HEHRAI)
- HIFWAC Relief
- Hope Behind Bars Africa
- Institutional and Sustainable Development Foundation ( ISDF)
- International Peace and Civic Responsibility Centre (IPCRC)
- International Press Centre (IPC)
- Invictus Africa
- Kilimanjaro Youth Foundation
- Media Rights Agenda (MRA)
- Mothers United and Mobilised
- Nigeria Network of NGOs
- Paradigm Initiative (PIN)
- Policy Alert
- Public and Private Development Centre (PPDC)
- Research Centre for Development Action
- Rule of Law and Accountability Advocacy Centre (RULAAC)
- Sesor Empowerment Foundation
- TechHer NG
- The Meluibe Empowerment Foundation
- We the People
- WikkiTimes
- Women Advocates Research and Documentation Centre (WARDC)
- Yiaga Africa
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[OPINION] Issues around planned #EndBadGovernance protest - Sunday Onyemaechi Eze
[OPINION] Gwo Gwo Gwo Ngwo and the Nostalgia of a Nation: A Reflection - Prince Charles Dickson
“Ka ana achu aja, ka ikpe n' amah ndi mmuo.” Let's keep sacrificing, let the gods take the blame. (Igbo Proverb)
Nigeria is a nation known for its diversity, vibrancy, and complexity. Yet, one thing that stands out starkly is our inability to collectively agree on a single path. This is reflected in our politics, policies, and even daily interactions. Despite this, there are few areas where unity shines through, namely in music, sports, and entertainment. The recent resurgence of the song "Gwo Gwo Gwo Ngwo" by Pa Mike Ejeagha exemplifies this phenomenon, highlighting both the nostalgic yearning for the past and the fragmented present we find ourselves in.
Originally produced in 1983, "Gwo Gwo Gwo Ngwo" by Gentleman Mike Ejeagha has experienced a remarkable resurgence in 2024. This resurgence was sparked by a skit from Brain Jotter, a popular skitmaker, who used a segment of the song in his comedy sketch. The song's catchy ending, "gwo gwo gwo ngwo," caught on like wildfire, trending across various social media platforms and bringing the 41-year-old song into the limelight once again.
Mike Ejeagha, who will be 94 years old in August 2024, suddenly found his decades-old folktale song becoming the trendiest piece of music in the country. This phenomenon led to a heated debate over copyright infringement issues and payment rights, raising questions about who benefitted more from this revival—Brain Jotter or Mike Ejeagha.
The controversy centers around the intellectual property protocols, which suggest that the duration of the sound clip used by Brain Jotter is less than the required length to qualify for royalty sharing. Whatever Brain Jotter gifted the old man in appreciation is just that—a gift. The silver lining here is the renewed interest in Ejeagha's works, providing an opportunity for him to earn from his repertoire once again. On the side lines the fact emerging is that his record company having dragged him to court for several years simply refused to pay him royalties amongst many other issues.
The song "Gwo Gwo Gwo Ngwo" is a folktale that tells the story of a tortoise outsmarting an elephant to marry a king’s daughter. The king had decreed that whoever could bring a large animal like an elephant or cow tethered to the feast would marry his daughter. None of the animals succeeded, except for the tortoise. The tortoise tricked the elephant into believing he was to chair the occasion, and on their journey, the tortoise convinced the elephant to allow him to place a rope around its neck for safety. Upon arrival, the tortoise presented the tethered elephant to the king and won the princess’s hand in marriage. This story elevates intellectual capacity over brute strength, embodying a lesson in wisdom and cunning.
The story of "Gwo Gwo Gwo Ngwo" and its resurgence brings back fond memories of a Nigeria that many feel has been lost. The nostalgia is palpable, especially when considering how unified and proud Nigerians once were. There was a time when the Naira outweighed the Dollar, Nigerian products were renowned, and the nation enjoyed a semblance of order and pride.
In those days, Nigeria's public institutions, such as the Nigerian Airways, Nigerian Railway, and NITEL, were symbols of national pride. The education system was robust, with universities like the University of Ibadan, University of Nigeria, Obafemi Awolowo University, and Ahmadu Bello University being the pinnacle of academic excellence. Public education was patriotic, and national unity was a given.
Today, Nigeria finds itself in a very different place. The Naira has plummeted in value, and the country struggles with economic instability and political turmoil. The reliance on foreign investments and aid highlights a lack of self-sufficiency. The disconnect between governance and the governed has grown, with leaders more interested in ruling than leading.
Insecurity has become a significant concern. The once peaceful regions are now hotbeds of violence and unrest. The road trips that were once safe and filled with camaraderie have become perilous, requiring prayers and luck to navigate safely. The sense of community that allowed a stranded traveler to find help easily has diminished, replaced by fear and distrust.
Amidst this turmoil, music, sports, and entertainment have remained unifying factors. They provide a sense of identity and pride that transcends the many divisions within the country. The success of Nigerian artists on the global stage, the collective joy during international sports competitions, and the shared laughter from comedians and skitmakers create moments of unity and national pride.
The revival of "Gwo Gwo Gwo Ngwo" is a testament to the power of these cultural elements. It shows how a single piece of art can bridge generational gaps, bringing back memories of a better past and giving hope for a more unified future. This phenomenon highlights the enduring legacy of our cultural icons and the potential for arts and entertainment to foster national cohesion.
Nigeria's current challenges are numerous, and the road to recovery and unity is fraught with obstacles. Yet, the resurgence of "Gwo Gwo Gwo Ngwo" offers a glimmer of hope. It reminds us of a time when the nation was more cohesive, and it underscores the importance of preserving our cultural heritage.
While Nigeria may struggle to agree on many issues, the shared love for music, sports, and entertainment provides a common ground. These cultural elements can serve as the foundation for rebuilding national unity and pride. As we look to the future, it is essential to remember the lessons of the past and the power of culture in fostering a sense of togetherness.
Ultimately, the story of "Gwo Gwo Gwo Ngwo" and its unexpected revival teaches us that despite our differences, there are still threads that bind us together. It is up to us to strengthen these threads and weave a stronger, more united Nigeria—May Nigeria win!
[OPINION] The Fire of God - Gabriel Agbo
“For our God is a consuming fire.” Hebrews 12:29
Another divine weapon of warfare that we want to discuss here is the Fire of God. This spiritual weapon protects and guides the Christians. Yes, the devil, the witches, demons, enemies are always terrified at the sight of it. But unfortunately, the church is not making adequate use of this spiritual lethal weapon. You cannot relate with God for a reasonable period of time without noticing that fire is an indispensable attribute of his presence and actions. In the bible, you will always see fire being associated with the presence of God. For example, Leviticus Chapter nine and verse twenty-four said that, “Fire blazed forth from the LORD’S presence and consumed the burnt offering and the fat on the altar.” Then, book of Revelation chapter four and verse five also said that from his throne come flashes of lightning and the rumble of thunder. And that in front of the throne are seven lamp stands with burning flames. There is always a constant emission of fire and power from the presence of God. You will be right to say that you cannot separate fire from his nature, essence and manifestation. At his throne, there is a constant emission of lightning, thunder and flames. When he is happy and wants to receive your sacrifice, he descends with fire. When he wants to manifest to his people, he shows-up in fire and smoke. When he wants to lead them out of slavery, he protects them as the pillar of fire and cloud. When he wants to fight for them, he comes with chariots of fire. My God!
When he decided to anoint the disciples with the Holy Spirit, he also came with tongues of fire. When he wants to give assignments to his prophets, he comes as burning bush. The fire will be burning without consuming the leaves. And when he gets angry with his enemies, he consumes them by fire and sulphur. Then, if you remember, God told the Old Testament priests to make sure that the fire in the tabernacle doesn’t go off. So, part of his nature is combustion. Now, God protects his people with fire. When the Israelites were coming out from Egypt, we were told that the pillar of fire led them in the night and it also turned to a pillar of cloud at day. When the Egyptians came dangerously close to apprehending them on the way, the same pillar of his presence retreated to the back, forming a barrier between his people and the attackers. This protected the Israelites as it made it impossible for their pursuers to come closer. Listen: “Then the angel of God, who had been leading the people of Israel, moved to a position behind them, and the pillar of cloud also moved around behind them. The cloud settled between the Israelite and Egyptian camps. As night came, the pillar of cloud turned into a pillar of fire, lighting the Israelite camp. But the cloud became darkness to the Egyptians, and they couldn’t find the Israelites.” Exodus14: 19-20. God will use his fire to fight for you from today in the name of Jesus. He will cause great, thick darkness to come upon your evil pursuers. They will surely grope, stumble and fall for your sake! They will look for you and will not be able to find or reach you again.
President Tinubu offers lifeline to Dangote Refinery, NNPC to sell crude to it in Naira
To ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate, the Federal Executive Council today adopted a proposal by President Tinubu to sell crude to Dangote Refinery and other upcoming refineries in Naira.
Dangote Refinery at the moment requires 15 cargoes of crude, at a cost of $13.5 billion yearly. NNPC has committed to supply four.
But the FEC has approved that the 450,000 barrels meant for domestic consumption be offered in Naira to Nigerian refineries, using the Dangote refinery as pilot. The exchange rate will be fixed for the duration of this transaction.
Afreximbank and other settlement banks in Nigeria will facilitate the trade between Dangote and NNPC Limited. The game changing intervention will eliminate the need for international letters of credit. It will also save the country of billions of dollars used in importing refined fuel.
[OPINION] Wigwe University: a vision we must nurture - Etim Etim
It is reassuring that the Board of Trustees, Governing Council and other stakeholders of Wigwe University are working hard to sustain the university and fulfil the vision of its founder, Herbert Onyewumbu Wige, who passed away with his son and wife in such a tragic and difficult-to-understand circumstance six months ago. The university will open mid-September – about six weeks away - for its first set of students who are going in to study various courses in engineering; science and computing; management and social sciences and the arts. Herbert’s death undoubtedly created pain, panic and anguish and caused a delay in completion of some projects in the new institution, but overall, the institution is developing at a preset pace to meet all timelines. The recent departure of the university’s pioneer vice chancellor also caused some anxiety, but I can confirm that he was let go in the overall interest of the university and the vision of the founder. A replacement, Prof Marwan Al-Akaidi, has been named and he is exceedingly suitable to provide the required leadership. Al-Akaidi was formerly the university’s Dean of College of Science and Computing and Deputy vice chancellor (Research and innovation). I should also stress that many facilities in the campus have been completed and are ready. They include the gas-powered power plant that will provide 24-hour uninterrupted electricity; IT infrastructure; classroom blocks; students’ hostels; faculty buildings; admin block and sporting facilities. Construction work on the Senate Building and other facilities is progressing in earnest.
Licensed in June 2023, the university is owned by HOW Foundation, established by Herbert in 2016 as a special purpose vehicle to drive his philanthropic activities. Mrs Yvonne Victor-Olomu, the foundation’s chief operating officer, says Herbert’s death was a terrible blow, but the resilience of the team he left behind saw the vision through. She is grateful to some eminent Nigerians for their unwavering support in ensuring that the university’s dream is fulfilled. They include Aigboje Aig-Imokhuede and the Tengen Family Office; Aliko Dangote; Leo Stan Eke; Gov. Siminalayi Fubara of Rivers State and the Rivers State government. ‘’In addition, our Board of Trustees chaired by Prof. Fabian Ajogwu and the Governing Council led by Prof. Julius Okojie have been fantastic in driving the vision of Dr. Herbert Wigwe’’, she told this writer, noting that the host community and the lead construction firm deserve commendation for their support. Prof. Okojie is a former Executive Secretary of NUC whose acumen in managing tertiary education has been invaluable in shepherding the young institution.
But why did Herbert set up the university? What exactly did he set out to achieve? On January 14, less than a month to his death, Herbert Wigwe laid out his vision for the university in a speech he delivered at the 2024 DLD Conference in Munich, Germany. Here are his words: ‘’Those of us who have built successful businesses in Africa – and want to see more economic growth for all – cannot wait for (Africa’s) problems to solve themselves. We cannot afford to waste the talents of the next generation. That’s why my foundation is the driving force behind the launch of Wigwe University: to empower the continent’s youth to lead the charge in global leadership, innovation and progress.
‘’Our vision is nothing less than the transformation of tertiary education in Africa: to help the continent leapfrog the world as a global leader in innovation and development. Higher education can transform Africa, and we can transform higher education. Our university sets out to train and mentor the next generation of fearless African leaders, entrepreneurs and innovators. It is a homegrown institution – built by Nigerians for Africans and the world. Sitting on 600 hectares in Rivers State, it has the capacity for 11,400 students, as well as 400 faculty and staff. In its first year, 2024-2025, it will onboard 2,500 students, with staff recruited from across the world – from Europe, North America, Asia and of course Africa. We have reimagined what higher education in Africa should be – by emphasizing entrepreneurship and employability.
‘’We are building a culture of innovation, providing students with practical skills, including critical thinking, problem-solving and leadership itself. We offer work-integrated learning programs, internships and mentorship initiatives, to bridge the gap between academia and industry – including partner institutions across the globe. We are embracing cutting-edge technologies, including artificial intelligence, data analytics and renewable energy, to prepare our students for the Fourth Industrial Revolution. To do all that, we have invested heavily in our own infrastructure, which many African universities sadly lack. We have our own 10MW power plant, and our own fiber optic internet connectivity. We are building sports facilities to the world-class standards of FIFA, IAAF and the NBA.
‘’We are building a world-class performance arts center with a Broadway-standard stage, outdoor amphitheater, and our own sound stage and editing suites. We also have our own university farm to help feed the university and our host community, as well as support research. Our motto is “We, the fearless.” Because that’s who we are, and who are students would be. However, we need you – the visionaries outside Africa – to be fearless too. That means transforming your ideas about African youth and your relationship to Africa’’.
There is no greater honour to Herbert’s memory than to nurture this vision; and as his post humous birthday draws near, I am thankful to all Nigerians of good heart who are standing up to ensure that this is done. Their own vision will never dim.
Founded in 2005, DLD (Digital-Life-Design) has developed into Europe’s leading innovation conference for visionaries around the globe. Herbert was a leading member and the keynote speaker in its January conference. The main purpose of DLD is to bring together business, creative and business leaders, as well as investors and opinion formers, to exchange ideas and get inspired. It is one of Europe’s leading conferences on innovation. Herbert’s presentation was titled ‘’Leapfrogging Africa to the forefront of global development through tertiary education’’.
[OPINION] In Government, Size Matters - Dakuku Peterside
Any government can easily undermine its credibility if it sends mixed signals on essential policy issues or initiatives, flip-flop from one policy or strategic direction to another, and turn essential socioeconomic frameworks into a yo-yo game. The outcome and resultant consequences have been consistent: a total erosion of integrity and trust in the government. This has been more glaring in the critical decision on Nigeria’s government size and its twin, cost of governance. In government, size matters! But what matters most is the ideological underpinning of what determines size, relative to goals and objectives. The size of the government in Nigeria has, over the years, been a contentious issue, primarily because of its linkage with bloated bureaucracy, huge recurrent expenditure, and negative impact on economic growth. It is common sense that as the size and cost of the government skyrocket, there will be less funding for development interventions.
At this time, we can see that the more specific challenges and consequence of not having the right service architecture that matches context, resources and state objectives is manifested in the multiplicity of Ministries, Departments, and Agencies (MDAs) that perform similar functions or have overlapping responsibilities, hence the increased cost of governance and an increasing misery index. This “misery index” reflects the challenges faced by the average citizen due to the inefficiencies and redundancies in the government system.
These challenges have been the bane of governance in Nigeria and merit attention. Successive administrations in Nigeria recognised this elephant in the room and set up processes to tackle these challenges. One would have wondered why it is taking too long to streamline government and governance when everyone knows and agrees it needs to be done. The answer lies in one thing – the political will and courage to take an action that has enormous political ramifications and may affect millions directly and indirectly, supposedly in terms of government jobs and the quality of services the government provides. The current administration acknowledged this inverse relationship between the ballooning size of government and economic growth. Hence, at various times, the president had promised to streamline the size of government ministries, departments, and agencies. The president made several consequential statements to address the challenge of the unsustainable size and cost of government. The most applauded was his commitment to implementing the Steve Oronsaye report on mergers and streamlining of government agencies. This column dealt with the issue in a piece titled “High Cost of Government, Low Outcome“. In that piece, it was my argument then as it is now that “I acknowledge as a fact that a US-type presidential system tends to be big by constitutional requirements. And in a country where the government is both an industry and a social welfare institution, the tendency for big expansive government is high”.
Nearly a year later, the government is clearly in a dilemma. Instead of streamlining the size of government, we are likely to see MDAs increase by the end of the year. In the past six months, the National Assembly has initiated bills to create more than two dozen new agencies and institutions. According to Order Paper, a parliament watchdog publication, under its Oronsaye Report Tracker project, 25 establishment bills have been passed since the presidential proclamation. Most recently, President Bola Tinubu signed the Acts establishing the Southeast and North-West Development Commissions into law. Mr President also announced the creation of the Ministry of Livestock Development, the 49th Federal Ministry. The presidential think tank suggests that the Ministry of Livestock is the silver bullet that will solve the perennial farmer-herder conflict, assuming that the Ministry of Agriculture is not fit-for-purpose agency to manage such.
Several new agencies and commissions have already been established between the Buhari administration’s last days and the Tinubu administration’s promise to implement the Oronsaye report. Some of such institutions are the Nigeria Data Protection Commission, the National Social Investment Programme, and the National Senior Secondary Education Commission. It appears that this is an unending exercise. The bourgeoning of government ministries and agencies paints a picture of desperation and a government throwing everything it has at solving intractable socio-economic challenges or improving standards, but in reality, it is adding to the problem of an over-bloated government without the efficiency needed to deliver on the ethos of a public-private partnership model for economic growth.
It is evident that the government urgently needs a comprehensive plan to refocus its desire to manage interests and its responsibility to right size/streamline the size of MDAs or its twin;cut the cost of governance. The consequences of inaction will be appalling. What is the effect of increasing the size of government and, by implication, the cost of governance at a time of national economic distress? At a time when the debt profile is at an all-time high, inflation is taking a toll and debt servicing cost expenditure accounts for a greater percentage of our spending. Expanding the government’s footprint during economic distress can significantly hamper economic growth, widen our debt profile crisis since we often borrow to fund recurrent expenditures, worsen inflation, kill private enterprise, and affect the most vulnerable among us.
Unarguably, a combination of a large, bloated government in a third-world country and inefficient public service is an inhibitor of economic growth. One can argue that size is not necessarily an indicator of efficiency, productivity, and quality of service. It is sometimes better to professionalise the civil service, increase their value addition through innovation and technology, and proper human resource management. The government needs to take a step back and appreciate that despite its best intentions, the perception and signaling it provides does not engender or promote the commitment required to solve citizen’s present and future challenges; and as such should take deliberate steps to create an enabling economic environment that will enhance the private sector’s ability to create jobs and absolve any possible loss of jobs that may result from the streamlining of government MDAs.
Today’s technological advancements, even locally, has made it easier to rely on e-governance technology to provide seamless services in government to government, government to business, and government to citizens. Some state governments are at the foundational level of setting up e-governance to improve their services. Edo and Akwa Ibom states in the south-south, Enugu and Ebonyi in the southeast are creating the architecture for this. The future is e-governance. It is inevitable. So, the earlier we adopt, adapt and refocus the civil service towards being service-oriented and not job creation-oriented, the better it will be for the efficient government running.
Big and small governments have their relative advantages and disadvantages, but the multiplicity of MDAs with overlapping responsibilities serves no purpose other than to drain scarce resources. It simply reduces government services to social security rather than productive labour. The greatest challenge of a multiplicity of MDAs that are also inefficient is that they stifle the spirit of entrepreneurship and innovation, encourage waste, promote corruption, mediocrity, and politics triumph over national interest. Even much more fundamental than the multiplicity of MDAs or cost of governance is the impact of the misalignment of governments’ words and actions. It does irreparable damage to public trust.
This administration’s multiplicity of government MDAs, as well as the size and cost of governance, is best understood by correlating its words with the actions that follow. When used as an instrument of popular appeal, words could mean something different in politics and public life from their ordinary literal meaning. It is action that builds trust and credibility. It is time the government stuck with its goal of adopting or adapting the Oronsaye report on streamlining the MDAs to achieve efficiency, save cost, create policy consistency and build public trust. Nigeria is in a difficult place now, and businesses and citizens want clarity of policies and direction. Even the MDAs and civil service need clarity and a roadmap for the future. I recommend that the government comes out clearly and tell Nigerians where they are on this issue of the ideology, purpose and size of government. The government’s words must match their actions.
Planned Protest: FG issues circular to VCs over protection of staff, students, infrastructures
In view of the proposed national protest slated for August 1, the Federal Ministry of Education, has issued a circular to all Vice Chancellors of Nigerian Universities to guarantee the protection of staff, students and public infrastructures in their respective domain.
The circular issued through the National Universities Commission NUC, and signed by the Acting Executive Secretary, Dr Chris Maiyaki on Monday, morning acknowledged the right to protest but expressed fears about the potentials for violence.
The circular is titled: “Urgent Arrangements for the Security and Safety of University Staff, Students and Property During the Proposed Nationwide Protests”, emanated from the directive of the Minister of Education, Prof. Tahir Mamman
It reads, “the Minister of Education has directed that the attention of Vice- Chancellors of all Nigerian Universities be formally drawn to the plan by unknown groups to embark on nationwide protests. The Federal Government is not unaware of the right of any Nigerian to peaceful protest, but is concerned about the safety of staff, students and university property should there be any protest action.
“Consequently, the Honourable Minister has directed that Vice-Chancellors of all Nigerian Universities should take pro-active steps to ensure the security and safety of the university community, including staff and students.
“In addition, Vice-Chancellors are to please issue specific statements to assure staff and students of their safety.
“It is also advisable that students remain on campus to focus on their academic pursuits so as to avoid exposure to any potential danger during the planned protests.
“Please accept the renewed assurances of my highest considerations and best wishes”.
[DailyPost]
Four identical twins, couple, among 28 contestants open BBNaija season 9
The much-anticipated 9th season of Big Brother Naija has kicked off with a unique twist, featuring 28 housemates consisting of pairs.
This season, notably titled ‘No Loose Guard,’ includes two different sets of identical twins and a married couple among the contestants, setting the stage for an intriguing 10-week journey.
During the opening event, host Ebuka Obi-Uchendu revealed that the Head of House ballot would commence at 10 a.m. on Monday.
This season’s grand prize is an impressive ₦100 million, which includes a cash prize and an SUV, along with additional sponsored prizes to be announced.
The show, running for 10 weeks, will conclude with the finale on Sunday, October 6, 2024.
With its theme promising exciting twists and surprises, viewers can expect an electrifying season that will keep them on the edge of their seats.
[TheNation]