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

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

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

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

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

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

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

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

Enugu State

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

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

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

Kebbi State

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

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

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

Kano State

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

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

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

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

Jigawa

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

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

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

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

Delta

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

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

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

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

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

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

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

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

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

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

Sokoto

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

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

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

Akwa-Ibom

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

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

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

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

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

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

Ebonyi

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

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

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

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

Cross River

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

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

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

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

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

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

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

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

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

He left the government on December 20.

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

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

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

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

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

• Reforming the economy to deliver sustained and inclusive growth;

• Strengthening national security for peace and prosperity;

• Boosting agriculture to achieve food security;

• Unlocking energy and natural resources for sustainable development;

• Enhancing infrastructure and transportation as enablers for growth;

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

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

• Improving governance for effective service delivery.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

– US support –

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

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

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

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

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

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

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

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

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

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

China has dubbed them an “independence duo”.

– ‘Expand investment’ –

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

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

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

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

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

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

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

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

AFP

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

[Vanguard]

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

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

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

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

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

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

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

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

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

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

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

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

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

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

AGORA POLICY SUGGESTS SELLING OF ASSETS, EUROBONDS TO RAISE FX

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

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

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

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

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

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

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

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

‘NIGERIA MUST FOCUS ON RESTORING ORGANIC DOLLAR FLOWS’

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

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

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

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

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

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

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

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

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

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

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

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

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

[TheCable]

It was a day of glory and celebration of achievements at the American University of Nigeria ( AUN ) Yola,as it marked its 15th Commencement ( Graduation ) activities between between 16th and 18th of May, 2024. Prof Mike Ozekhome, SAN,CON, OFR Ph.D was on hand to deliver the Commencement lecture.He was also conferred with the prestigious degree of Doctor of Humane Letters ( DHL ) ( Honoris Causa) by the highly rated university whose curriculum is modeled after the American system of universities that include Harvard, Howard,Yale, Princeton, etc. Shortly after the confermement,Prof delivered the keynote lecture which spanned 44, on "The Role of the university in creating a legacy and impact on the world:AUN as a casestudy".

Ozekhome had also,a day earlier, interacted with AUN law students at the magnificent School of Law and also also attended the Honors Society events. He was also taken round on a guided tour of the amazing university whose topnotch facilities compare with any of those in the best of ivy leagues in the United States of America and the Western world.Present at the events were the founder and promoter of AUN, Alhaji Atiku Abubakar GCON,Waziri of Adamawa, the President of the University, Prof Dewayne Frazier and the Governor of Katsina State,....Amongst the dignitaries were traditional rulers,foreign envoys such as the Canadian High Commissioner, Ambassador Christoff James; the Indian High Commissioner,Ambassador Balasumbramanian; and the Ambassador of Rwanda, Christoph Bazivamo; graduating students and their joyous parents.

Have you noticed that in the last two weeks, Governor Siminalayi Fubara of Rivers State seems to have acquired an inexplicably large dose of boldness and courage? Conversely, you must have equally observed that, in the last couple of days, FCT Minister, the very loquacious Nyesom Wike, has taken an uncharacteristically large overdose of meekness and humility. The thawing of the ice of Wike’s flippancy baffles watchers of the combustive politics of the oil-rich state. To many students of the semiotics of Nigerian power struggle, Fubara’s sudden temerity can be found in a robust wise-saying of the Yoruba. They say, the moment a child is decorated with the costume (agò) of a masquerade, he becomes the Old One (Tí wón bá gbé agò wo omodé, ó ti di baba àgbà). Fubara seems to have suddenly worn the “agò” of a masquerade. He now talks with the boldness of an Old One. What is responsible for this transition? What could have made the coy Fubara of few months ago transit into King Cobra? Known as the most aggressive snake in the world, king cobra is Janus. In one breath, he is shy. In another, his aggression against the enemy is unrivalled as he furiously spits his lethal venom.

Apart from a recently acquired boldness, Fubara’s lingo has transmuted, too. It is either “the jungle has matured” or there is an invasion of rats. Fubara said he had found the rat troubling Rivers State’s sack of gari and promised to kill it with Otapiapia, the local rat poison. While receiving the Ijaw Youth Council, (IYC) which paid him a courtesy visit at Government House, Port-Harcourt, last Thursday, Fubara proclaimed that he had already defeated ‘them’. “I am happy that you’ve told me this morning that when I call on you, you will respond. But there is nothing to call on you for because we have already defeated them,” he said. Defeat “them” with a seemingly bad case in the courts?

Fubara has also started speaking in the language of the forest. Anyone who wanders into the jungle is bound to see spirits. Only those who just returned from the ancestral grove, the “Igbó Ìgbàlè” speak with such Fubara boldness. Igbó Ìgbàlè is where the uninitiated are taken to be sacralized. When a sacral is put on a child, he is sanctified as having acquired the power of the spirit.

It may be worth one’s while to find out the invisible and invincible drummer beating the drum to which the Fubara water bug is dancing on the river. Convinced there is an invisible underwater genie, Yoruba translate this to say, “Ìròmi t’ó ńjó l’ójú omi, onílù rẹ̀ wà nì’sàlẹ̀ odò.” Before now, the meek Fubara apparently didn’t want to see spirits that reside in the ancestral grove. His case was analogous to that of the proverbial man who wanted the head of a tortoise, its legs and arms but didn’t want its full body. The elders counsel that Fubara must purchase the whole tortoise in its entirety. So, if he seeks to find spirits in Rivers, Fubara must go the whole hog. Recently, the governor is beginning to show that he does not desire the half measure of the tortoise. If they are seized by the awesome behemoth powers of the African ruler and want to find spirits, the Fubaras must be prepared to encounter demons.

It was same way Ògbólú, sixteenth century Aláàfin of Ọ̀yọ́, was seized by the awesome powers of his throne and became a ghost-catcher. Toying with the possibility of relocating the capital of Oyo Empire from Ìgbòho back to its initial site of Katunga, the Aláàfin’s proposal met stiff resistance from even his council and palace courtiers. This bred a gang-up by the dissenters who got paid agents to go into Katunga masked as ghosts. So, when Aláàfin Ògbólú sent emissaries to Katunga, they reported back to him that the land was infested with venial ghosts. D. O. Fagunwa called any hunter brave enough to confront such demons Ogboju Ode Ninu Igbo Irunmole. Hunters are regarded in traditional Africa as the third eye that could penetrate opaque scenes to reveal otherwise mysterious beings. The troubled Ògbólú then assembled six of the hunters to reconnoitred this ‘ghost-laden’ Katunga. The hunters unmasked the troublous ‘ghosts’ who were then dragged down to Ìgbòho in chains.

African governments are powerful ghost-catchers. They are Duppy – ghost or spirit – conquerors. ‘Duppy’ is a word with African origin, used commonly in the Caribbean Island among Bahamans, Barbadians and Jamaicans. So, when the trio reggae music singers of Bob Marley, Neville O’Riley Livingston and Winston Hubert McIntosh of the Wailers fame majestically proclaimed themselves ‘Duppy Conqueror’ in their April, 1973 album, they meant that they were ghost-catchers. A huge percentage of Caribbean folklore is built around Duppies. Last week, Fubara, like one who was looking for Duppies, publicly proclaimed that his administration would probe the Nyesom Wike immediate past government as the jungle has matured. But, Ex-Ekiti State governor, Ayo Fayose, in the early days of the Fubara government, warned him against wandering into the Igbó Ìgbàlè because, in that forest of a thousand demons, he would find ghosts. Fayose must have known that governors leave Duppies behind while exiting Government House. At a public forum, Fayose warned Fubara not to attempt to “see more than what you are supposed to see” because the moment he does this, he “will begin to see spirits.”

If you see the recent boldness of Fubara, you will conclude that his hands have firmly gripped the sword (Èèkù Idà). Yoruba say that until the son’s hands have firmly gripped the sword, he must never ask who killed his father. “Any man who cocks a gun, shoots it,” Fubara said last week. If, for one reason or the other, the gun refuses to shoot, the man should know that he is a dead man. “So, if we have a way to bury that person, we will bury them!” he proclaimed with maniacal emphasis.

In an earlier piece I did on this crisis (As Fubara presses the nuclear button, December 17, 2023) I cited Dr Percy Amoury Talbot, an early 20th century British historian and colonial administrator’s unflattering description of Fubara’s stock, the Ijaw. In that highly authoritative 1926 book, Peoples of Southern Nigeria: A Sketch of their History, Ethnology, and Languages, with an Abstract of the 1921 Census, Talbot described the no-nonsense Ijaw race on page 333, as “Up the various creeks and branches, the waters are infested by a wild piratical set who live almost entirely in their canoes, and who subsist by plundering traders while on their way to the markets, often adding murder to their other crimes.” Did Wike not investigate the roots of his erstwhile Accountant General before making him governor? You can connect Talbot’s thesis with the maniacal semiotics of killing and burying in Fubara’s words last week.

Wole Soyinka, in his A dance of the forests, gave an inkling into the composition of spirits who live in Igbó Ìgbàlè. According to the Crier in the play, living in the forest are: “Rock devils, Earth imps, Tree demons, ghomids, dewilds, genie Incubi, succubi, windhorls, bits and halves and such Sons and subjects of Forest Father, and all That dwell in his domain.”

What is however not in doubt in Rivers is that war has begun. What you hear from both sides of wardom is akin to the shrill cry of the pied crow, a bird the Yoruba call Kannakánná. Though it feeds mostly on ants, the Kannakánná’s most cherished meal is the hatchling of a sparrow (eye ègà). The sparrow itself is a social, homely, very small, seed-eating bird with conical bills. It will fight its assailant to a standstill if provoked. That is why when a spat is in the offing between two giants, the Yoruba say that they smell a fight in the proportion of what happens when the crow attempts to beat the hatchling of a sparrow – “Kannakánná na omo ègà…” When you look carefully at the anger on both sides of the Rivers state conflict, you will conclude that the Kannakánná has indeed beaten the sparrow’s hatchling.

In the jungle, the language is deconstruction. Recently, on my favourite Animal Channel, I saw a lion devouring its dead child. That is the nature of the jungle. Not only does a cackle of hyenas eat the zebra’s flesh and bone, big snakes swallow one another and fishes swallow fishes. One artist famously known for using his pen to deconstruct is South African influential political cartoonist, Jonathan Shapiro, who goes by the pen name, Zapiro. Then leader of the African National Congress, (ANC) who was to later become South African president, Jacob Zuma, got deconstructed by Zapiro serially through series of cartoons. With his strokes, Zapiro depicted, humourized and escalated the implications of Zuma’s trials and tribulations. Two of such stood out. The first was a cartoon in the Mail & Guardian edition of June 28, 2012. Employing the satire form, Zapiro drew a Zuma who was presenting a speech, naked. Such leadership nakedness is a taboo in African tradition and also in contemporary ethics. Even in Zuma’s nakedness, he was oblivious. Zapiro says with his strokes that the naked Zuma was presenting untruth to the people. On the head of the Zuma figure drawn by Zapiro, was a shower tap.

To explain the shower tap on Zuma’s head, in my piece (Buhari’s serial abuse of Nigeria’s Lady Justice, March 6, 2022), I made elaborate use of the second of Zapiro’s cartoons where I tried an explanation. Recall that Zuma was, in late 2005, accused of raping an HIV-positive family friend. Swiveling from denial to qualified acceptance when arrested, Zuma later admitted that though he had consensual sex with the lady, he took his bath immediately. In South Africa, it is widely believed that taking bath immediately after a sexual encounter reduces the probability of infection with the virus. So in his Sunday Times cartoon of September 8, 2008, apparently taking his cue from the rape trial, Zapiro triggered a huge ball of fire with his cartoon named “Rape of Lady Justice”. He had Jacob Zuma, loosening his trousers’ zipper for a sexual romp. He had a shower tap placed on his head. An impish but salacious smile lit his face. Before him, flung on the bare floor, was a blindfolded lady and a lapel hung on her chest on which was inscribed, “Justice System”. The scale of justice had fallen down beside the Lady Justice.

Four hefty and menacing-looking men knelt by the Lady Justice’s side, holding down the “wench” whose skirt was half peeled. They were political surrogates of Zuma in the ANC which included Julius Malema, Gwede Mantashe, Blade Nzimande and Zwelinzima Vavi. Mantashe smilingly beckoned on Zuma to rape Justice by saying, “Go for it, boss!” That cartoon shot Zuma into a fit. He immediately sued Zapiro for the sum of £700,000.

Last Tuesday, Governor Fubara, like Zapiro, drew a naked portrait of Wike. Like Zapiro’s second cartoon, too, Wike ran a dictatorial government as Rivers governor that you can compare to the Zuma binge. There, the Lady Justice lay prostrate on the floor, with the Rivers Leviathan attempting to play Zuma. Wike was egged on in the binge by his own Malema, Mantashe, Nzimande and Vavi. He was the biblical Leviathan whose strut and gruff loomed large as the frightening image of the rule of might. In a revelation that amounted to a deconstruction of the image Wike built for himself in eight years, Fubara revealed that his administration inherited a huge debt burden on projects handled by the Wike government. So much for “Mr. Projects”!

To the Wike group, however, Fubara’s dog has eaten the entrails of the Pouch rat – Òkété. The Yoruba believe that the day the hunter’s dog eats the entrails of the Òkété, it will run mad. Many people believe that Wike may have been stung by the deadly venom of Lagos power vipers. Lagos politicians play deadly politics that is blind to kindred, friendship, blood or pleasant past affinity. From 1999, whoever was the Rivers state governor has always been a Big Masquerade in Nigerian political calculus. Even though the Lagos politico tries to dud memories of hurt, as Nawal El Saadawi wrote in her Children of Isis, to the politico, memory, like wine, grows mellow with time. Wike is a rebellious and petulant character who, in the long run, may be unreliable, a trait the Lagos people in the Villa must have factored into their analysis. He is at war with every Rivers leader since 1999. From his abandonment and betrayal of Peter Odili and wife; Rotimi Amaechi; Iyorchia Ayu and Uche Secondus, it should be obvious to any calculating person that Wike will ditch anybody once he has a full dosage of his favourite lovely drink. You don’t use such ants-infested faggot to cook a broth as huge as the 2027 presidential election. Yes, Wike was instrumental to the coming into office of the Lagos Boys but it may be time to begin to build a power base outside of him. The moment the bellicose character no longer has access to the Rivers till, he is like a castrated dog.

Now, in his speeches, Fubara has begun to interweave his government with the Tinubu self-acclaimed Renewed Hope. He refers to Tinubu as “our father” and Rivers’ recent developmental strides similar to Tinubu’s. He has acquired balls of one who has been to the Igbó Ìgbàlè. He is giving ultimatum to local government chairmen and the 27 lost cats of the Rivers parliament. In talking to IYC, Fubara urged the Ijaw to key into the ongoing liberation. “By the special grace of God, what they thought that they would have done to us while we were celebrating our one year in office, they are the ones sleeping with their two eyes open. It shows that we have the Ijaw blood,” he said.

Fubara critics who said he didn’t know how to use power must have found out otherwise. His dog is not alone and the Yoruba say that when a dog has backers, it can kill a troop of monkeys. The Lagos Boys seem to have worn on Fubara, that erstwhile child, the costume of a masquerade. He has become the Old One. It appears as though whoever beats Fubara now will pay with a heavy propitiation of a fat cat to the Olú Igbó, the king of the forest. What Wike does not know is that, even the person who costumed the Egúngún is subject to the masquerade’s whiplashes once the masquerade returns from the grove.

Wike’s silence may also be that he has understood that ancient counsel of my musical idol, Ayinla Omowura. Omowura counseled that it is not every forest that the herbalist forages for herbs, nor is every palm tree a resort for every palmwine tapper. Some forests are reptiles-laden while some palm trees have hung around them poisonous mambas. The Fubara forest and palm tree may, for now, be beyond the Wike herbalist and tapper’s ken. Could it be as a result of Fubara’s quest to seek the spirits inside Wike’s eight-year government or the Lagos Boys’ resolve do “business” with Fubara in the quest for 2027? When asked for comment on Rivers about two days ago, the Wike who, only a few days earlier, vowed to redress his mistakes apparently by sacking Fubara, told the press that he was too busy in Abuja to bother about Rivers politics. A wise elder runs away from the monstrous cow by stealth!

As it is now, Fubara could be the proverbial child of the Gaboon viper (Omo inú oká) whose birth is said to ultimately lead to the death of its mother. For Wike, an Edan may be on its way to dying. The Edan, a ritual tool, signifies deep cultural significance for the Ogboni fraternity. In this Yoruba fraternity, the Edan is a two-metal staff crafted from copper, brass, or bronze. It is believed that whoever sights the Edan will be mesmerized. To reinforce this myth, the Ogboni made the Edan immortal. So, they say that the Edan never dies (a kìí gbó ikú edan). If the suspected furtive romance between Fubara and the Lagos Landlord does not flounder, then it means that the spinal cord of Wike’s Edan may have been broken. But, can the Edan die?

Germany is currently grappling with a substantial labor shortage, evident in over 1.98 million job vacancies spread across sectors.

The shortage is particularly pronounced in key sectors such as agriculture, construction, and transportation. The labour deficit is driven by demographic factors like an aging population, a declining birth rate, and an escalating demand for skilled professionals. In response, the country is actively seeking foreign talent to fill these critical roles and sustain its economic growth.

Germany’s aging workforce has been a growing liability, and positions in IT and software development, for instance, are becoming notoriously hard to fill. More companies are now looking abroad for help.

Nicole Büttner, co-founder and CEO of Mirantic’s Labs, a tech consultancy in Berlin, believes that this is an opportunity that Germany cannot afford to miss, especially given the global economic climate and recent layoffs by major tech companies.

“This is the time to have the optimal conditions for talent to come to Germany. It’s time for action, not complacency.”

She emphasized how critical foreign workers are to the tech scene. “We’re highly reliant on talent. That’s the main asset we put into it, so the dependency is very high. We need to be able, as a German tech hub, to attract foreign talent here.”

Other industries needing foreign talent

The agricultural sector is experiencing a scarcity of skilled workers in livestock production, forestry, and horticulture. Specific roles include:

• Livestock production
• Forestry technicians
• Horticultural specialty growers

The construction industry also faces shortages across various trades, including:

• Metalworking
• Automation
• Surveying
• Scaffolding
• Interior construction
• Glazing
• Pipeline construction
• Plant, container, and apparatus construction

The transportation sector is also affected, particularly in freight forwarding, logistics, and the need for drivers for earthmoving machinery.

Salaries for In-Demand Occupations

The salaries for these in-demand occupations vary but are generally competitive. According to the Economic Research Institute (ERI), average salaries include:

• Crop farm workers: €35,616 per year
• Forestry technicians: €36,791 per year
• Horticultural specialty growers: €36,913 per year
• Construction workers: €44,052 per year
• Drivers: €28,276 per year

These efforts and competitive salaries aim to attract skilled foreign professionals, ensuring Germany remains economically strong despite demographic challenges.

Highest-paying jobs in Germany

For those seeking the highest-paying jobs in Germany, the following roles command significant salaries:

• Doctor: €71,600 – €101,696
• Pilot: €93,499
• Sales Manager: €82,392
• Lawyer: €81,254
• Portfolio Manager: €80,000 to €120,000
• College Professor: €74,200
• Engineer: €63,000
• Software Developer: €45,000 to €80,000
• Project Manager: €45,000 to €90,000
• Risk Manager: €70,000 – €85,000
• Judge: €76,619
• Tax Advisor: €70,000

Importance of Overseas Talent:

A DW Business Desk reporter, Stephen Bley, emphasized the importance of overseas talent for Germany. He noted that the workforce is not only aging but also working fewer hours as more people opt for part-time work, creating a shortage of skilled workers. This shift is happening amid record employment levels, prompting businesses and industry groups to seek overseas talent across various sectors.

Bley highlighted Berlin’s recent passage of a law easing the hiring process for foreign workers as a positive first step. However, he cautioned that Germany’s job market remains highly regulated and insulated from overseas competition, historically making it difficult for foreign professionals to enter the workforce.

“Overseas talent is very important for Germany. Germany isn’t just an aging workforce; it’s one that on average is working fewer hours as more people take up part-time work. This is at a time of record employment, so if you want to keep things running, there’s not a whole lot of levers to pull these days.”

“That’s why we’re seeing more businesses and industry groups look towards overseas talent. This cuts across job sectors; it isn’t just nurses in hospitals or IT and software.”

“Berlin recently passed a new law that’s supposed to make it easier to hire foreign workers. It’s a good first start. What’s always been difficult about the job market here in Germany is that it’s highly regulated and insulated from overseas competition”, he says.

Dirk Deepar, a business owner agrees notes

“We don’t have young workers from Germany anymore because at some point in the past, manufacturers had less work and hired fewer apprentices.”

“Half of the factory’s employees are from abroad. Without the help of a recruiter, I found an Armenian who can do the job and want to hire him.”

Bley however noted that these overseas workers need to have the exact qualifications as German candidate. He says, “Now that you need those workers, it’s really difficult. In many cases, they’re required to have the exact same qualifications or certifications as German candidates, but in many countries, they don’t have those.”

[Nairametrics]

The Federal Government has reacted to the planned alliance between Labour Party (LP) presidential candidate in the 2023 elections, Peter Obi, and his counterpart in the Peoples Democratic Party (PDP), Atiku Abubakar.

Recall that Obi held a private meeting with Atiku and other PDP stakeholders in Abuja last week.

He also met separately with former Jigawa State Governor Sule Lamido and former Senate President, Bukola Saraki.

This led to speculation about a possible alliance in the upcoming 2027 general elections.

On Friday, Atiku stated that if the PDP decided in 2027 that it was the South-East’s turn to field the presidential candidate and selected Obi, he would readily offer his support.

Reacting to the development, the Presidency said that President Bola Tinubu is not bothered about the planned alliance, stressing he will not be losing sleep over the development.

They noted that Tinubu is more concerned about fulfilling his promise to Nigerians.

According to Punch, the Minister of Information, Mohammed Idris, said anybody could decide to collaborate and meet.

He insisted that the question, for him, was what happened after the talk and numerous meetings.

The minister stressed that Tinubu’s works would speak for him in the next election cycle in 2027.

He said, “The government is not thinking about them at all. We are focused on delivering on the mandate handed over to President Bola Tinubu. With the good works the government is doing, he is already the toast of Nigerians.

“So, they will continue to support him. Just a few days ago, the Federal Government inaugurated three critical gas infrastructure projects in Imo and Delta states to drive the country’s gas sector. The projects are the ANOH-OB3 CTMS gas pipeline and ANOH gas processing plant in Assa, Ohaji/Egbema in Imo State.

“The President also inaugurated the expansion of the AHL gas processing plant 2 gas project in Kwale, Delta State. The social security programme is ongoing. The Compressed Natural Gas project is there as well. Dry farming initiatives have taken root, and so many other projects that will benefit Nigerians are either ongoing or in the pipeline.

“Tell me, how will the meeting of those two men be an issue? No, we are not worried at all. The government of President Tinubu is focused and not disturbed.”

Also reacting, a senior presidential aide, Bayo Onanuga, said President Tinubu and his administration were not bothered by Atiku and his gang’s political maneuvering.

He said, “We are only surprised that they are plotting just one year after an election they lost. They are still behaving like sore losers.

“We are not bothered by the games they are playing, as they are revealing their mindset. They are mere politicians who only think about the next election.

“President Tinubu is a true statesman who is concerned about fulfilling his promises to Nigerians.

“At the moment, he is very busy resetting the economy of our country for the better, laying the foundation that ought to have been laid decades ago.”