The Nigerian National Petroleum Company (NNPC) Limited has increased the price of premium motor spirit, also known as petrol, across its retail outlets. 

TheCable observed that the price of the product increased to N998 per litre in Lagos on Wednesday.

NNPC increased the pump price from N855 per litre set in September.

More to follow…

[TheCable]

...as Foursquare church’s annual lecture focuses on leadership question

Ekiti State Governor, Mr Biodun Oyebanji has made a case for the inclusion of leadership training and mentorship into the school curriculum at every cadre of education in the country.

Teaching of leadership and associated values, according to the Governor, would help inculcate the right leadership values and qualities in the younger generation, thereby addressing the leadership question more effectively.

Governor Oyebanji stated this in Lagos on Tuesday, in his remarks at the 11th Annual Public lecture of the Foursquare Gospel Church, titled: “Leadership in Nigeria and Its Impact on The Next Generation”.

Oyebanji, who chaired the occasion, said Nigeria ought to be futuristic enough to have embedded curriculum that teaches leadership skills and principles, both as practical skills and indoctrinated value in the young population. According to him, if we have identified bad leadership as the bane of the society, it is important to ensure a well structure leadership training for the younger generation.

He spoke just as the Guest Speaker at the lecture and founder The Chair Centre, Mrs Ibukun Awosika and Lagos State Governor, Mr Babjide Sanwo-Olu, also canvassed a deliberate effort at equipping future leaders with necessary values.

According to Oyebanji. “Leadership must be part of the basic everyday skills that every citizen should possess. Leadership training must be as important as basic education for literacy and numeracy. As a nation, we should have embedded curriculum that teaches leadership skills and principles, both as practical skills and indoctrinated values. For me, I believe if you want to change a people, teach them what you want them to change to.

“There is no doubt that a major problem with leadership recruitment in Nigeria is that, people, sometimes, just find themselves in leadership positions without the right aptitude and attitude. For long, Nigerians continue to gamble with leadership selection through try by error system.

“There are those who become leaders by default or by circumstances of privileged pedigree and not because of personal merits. Yet, the best of leaders are those who have been trained, tested and exposed to the nitty-gritty of leadership in addition to their innate ability.

“Leadership is such a serious thing that being certified should be one of the requirements to hold certain strategic positions in the society. Evidence abounds that technical skill on jobs are not enough for people to lead competently; there is the need for real and special training in the art and science of leadership for people to succeed today.

“I therefore subscribe to the argument that people should, of necessity, go through intentional leadership training before they can lead at some certain levels in the society. We all need to be well exposed to the call of leadership and how to manage a mass audience of people with differing characteristics, needs and tendencies.” He said.

Speaking further, Governor Oyebanji said the foregoing propelled his government to introduce Ekiti Values Education (EVE) into the curriculum as a way of identifying those with high propensity to lead in future at their tender age, adding that the domestication of this concept as part of educational development, was to make Ekiti a model in leadership among the next generations of Nigerians.

"In Ekiti, we are already doing this. As a State that is serious about preparing the next generation of leaders from today, we have evolved a ’catch-them-young’ curriculum that prepares our future leaders for leadership position right from the primary school.

"As a result, we currently run a compulsory subject called Ekiti Values Education (EVE) with a considerable module that focuses on leadership development. The subject aims to teach young Ekiti children comprehensive aspects of leadership, responsibility of a leader and practical leadership exposure.

"For me, I believe if you want to change a people, teach them what you want them to change to. There is no doubt that a major problem with leadership recruitment in Nigeria is that, people, sometimes, just find themselves in leadership positions without the right aptitude and attitude.”he said .

In her paper, Mrs Awosika, said Nigeria must nurture a generation of king and empathetic leaders, who will understand that they are not necessarily the best among the citizens, but that they have been saddled with the responsibility to lead.

She also made a case for parents to lead in the leadership training, stressing that children will naturally grow up and imbibe the values around them.

“Raising the next generation requires our examples. We should show the younger ones what to do. We should teach our children what it means to be good citizens”, she said , adding that through proper upbringing and learning from the examples of the parents the young ones can imbibe good leadership traits.

Also speaking, Lagos State Governor, Mr Babatunde Sanwo-Olu, said it was important to nurture spiritual and political leadership in the younger ones.

The Lagos Governor, who was represented by the Secretary to the State Governor, Barrister Bimbola Salu-Hundeyin said the future of Nigeria rest on “our ability to nurture the next generation on the path of responsible leadership based on empathy.

A major highlight of the event was an award presentation by the General Overseer Foursquare Gospel Church, Rev (Dr) Sam Aboyeji to Governor Oyebanji, Governor Sanwo- Olu and Mrs Awosika. While the church representative also presented an appreciation award to the General Overseer.

Present at the lecture were political leaders, including Dr Bode Olajumoke; state commissioners, religious leaders and students leaders drawn from from secondary and tertiary institutions in the country.

…Saves Africa's $17bn Petrol Products Imports

Nigeria must enhance its crude oil production capacity and effectively manage its crude supply to ensure adequate feedstock for domestic refineries, in order to transit from a net importer to a net exporter of petroleum products.

Chairman of Dangote Refinery and Petrochemicals Company Limited, Aliko Dangote, made this assertion during his keynote address at a summit held in Lagos by the Crude Oil Refinery Owners Association of Nigeria (CORAN). The event attracted top government officials and key stakeholders from the midstream and downstream sectors.

Addressing Nigeria’s potential as a refining hub, Dangote expressed concern that, despite producing over 3.4 million barrels of crude oil per day, Africa imports around 3 million barrels of petroleum products daily. He noted that these imports, primarily from Europe, Russia, and other regions, are estimated to cost approximately $17 billion in 2023.  He urged that Nigeria could capitalise on this situation to become a net exporter of refined petroleum products, as the markets would be more competitively served from Nigeria.

“Both the crude oil and the petroleum products will travel shorter distances. The logistics costs of floating storage will be eliminated, and countries can purchase their petroleum product requirements just-in-time. Nigeria and Africa can become completely self-sufficient, and we can keep all the value on our shores. We have done it in cement, and we can certainly do it for petroleum products.

“It is worth noting that the Dangote Refinery already produces sufficient diesel and jet fuel to meet Nigeria’s demand. We recently started the production of PMS and will soon ramp up to meet Nigeria’s needs. Our refined products have been exported to diverse markets, including Europe, Brazil, the UK, the USA, Singapore, and South Korea,” he added.

Represented by Engr. Mansur Ahmed, Group Executive Director of Dangote Industries Ltd, Dangote emphasised that Nigeria must develop a refining capacity of 1.5 million barrels per day and prioritise domestic crude supply obligations to seize this opportunity. Acknowledging the arising and future challenges, he urged the government to incentivise investors, contrasting this with the Dangote Oil Refinery, which was built without any government incentives.

“…It is unfortunate that while countries like Norway are putting oil proceeds into a future fund, in Africa, we are spending oil proceeds from the future. We will also need to prioritise the implementation of domestic crude supply obligations. We will need to expand our crude oil production capacity to support demand from new refining capacity. The government of President Bola Ahmed Tinubu is taking active steps to achieve this through fast-tracking IOC divestments and other initiatives,” he stated.

Emphasising that global developments in the petroleum sector, particularly in Europe, will disrupt historical trade flows for refined petroleum products in Africa, Dangote stated that Nigeria is uniquely positioned to capitalise on this opportunity and become a significant player in the global oil industry. He called for consultation, collaboration, and cooperation among stakeholders.

“As a vibrant exporter of refined products, Nigeria will witness an improvement in its balance of trade and generate much-needed foreign currency. Nigeria’s potential as a refining hub is clearly not in doubt; let us work together to make it happen,” he urged.

The foremost industrialist noted that the summit’s theme, “Making Nigeria a Net Exporter of Petroleum Products,” would have seemed unrealistic a few years ago, and added that despite being Africa’s largest crude oil producer, Nigeria has historically relied on imports to meet its refined petroleum product needs.

However, he emphasised that the Dangote Petroleum Refinery and Petrochemicals is poised to transform Nigeria from a “net importer” to a “net exporter” of refined petroleum products, establishing the country as an emerging player in global downstream trade flows; with refined products already exported to various markets, including Europe, Brazil, the UK, the USA, Singapore, and South Korea.

Commending Dangote for this transformation, Chairman of IPPG/Waltersmith Refinery & Petrochemicals Co. Ltd, Abdulrazaq Isa, called on the government to support domestic refiners by ensuring the availability of crude, adhering to domestic crude supply obligations, and implementing effective pricing and monitoring measures to prevent smuggling.

Chairman of CORAN's Board of Trustees and CEO of Integrated Oil & Gas, Captain Emmanuel Iheanacho (rtd), remarked that the Dangote Oil Refinery has set a high standard by producing Euro-V products, thus protecting citizens from exposure to high-sulphur products. He noted that transforming Nigeria into a net exporter will bring numerous benefits but reiterated the need for increased investment to boost crude production, lamenting that Nigeria loses approximately $83 billion annually by not meeting its OPEC quota.

While acknowledging that tank farms remain essential despite local refining, Iheanacho urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), to consider cancelling import licences, as Nigeria can now meet its local demand.

Chairman of Major Energies Marketers Association of Nigeria (MEMAN), Huub Stokman,  stated that Nigeria is on the verge of becoming Africa's refining powerhouse, which will significantly boost the economy. The Chairman of CORAN, Momoh Oyarekhua, also expressed concern over challenges related to crude supply and stated that domestic refiners will work with regulators and stakeholders to address these issues.

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lopkobiri,  assured that the government would continue to refine frameworks to enhance crude production and support domestic refineries. His counterpart from the Ministry of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, emphasised the Tinubu-led administration’s commitment to ensuring value addition for mineral resources before export.

Two panel sessions were held to discuss Nigeria’s downstream petroleum refining sector and its potential impacts, as well as policy strategies for achieving self-sufficiency in petroleum products.

Slavery was not an invention of the West but rather a practice present in almost every civilization throughout history. Proof of slavery anteceded written records and dating back over 11,000 years. This widespread phenomenon has spanned nearly all civilizations, this includes ancient Egypt, China, Mesopotamian empires, the Persian Empire, ancient Israel, Greece, the Roman Empire, and ancient India. Additionally, slavery existed in Arab Islamic caliphates and Sultanates, as well as pre-Columbian civilizations of the Americas.

Slavery in antiquity arose from various forms. These included debt bondage, where individuals were enslaved due to unpaid debts or financial obligations. Penal servitude was another form, where criminals were sentenced to slavery as punishment. War captivity was common, with people captured during conflicts and war becoming slaves. Social abandonment also played a role, leaving vulnerable abandoned or orphaned children open to enslavement. Finally, hereditary enslavement ensured that children born to enslaved parents inherited slave status.

Africa's history of slavery predates European involvement by centuries. The continent endured ten painful centuries of Arab slavery before an additional four centuries of European slavery. The East African slave trade began before the advent of Islam, initiated by Arabs and marking the beginning of this tragic era. Eastern Africans and Arab enslavers sold Africans across vast trade networks, primarily targeting fellow East Africans. The spread of Islam in the Arabian Peninsula led to increased slavery in North Africa.

Islam's permissibility of enslaving non-Muslims contributed to its growth in popularity, and Muslim armies conquered vast territories by 633 CE, including Egypt, Syria, Palestine, Iraq, and parts of Iran and Turkey. In 650, Caliph Uthman's rule saw the prohibition of enslaving fellow Muslims, but not non-believers or those opposing Islam. The Caliphates' power in the 7th century solidified slavery as an organized venture in Africa, starting in Darfur in 652.

A peace agreement obligated the Sudanese leader to pay an annual tribute of hundreds of African slaves to Arab invaders, a practice that continued for centuries. Arab slavery gradually expanded to some part of sub-Saharan Africa, with many enslaved Africans sold to Mediterranean and Middle Eastern civilizations. A small percentage were taken to North Africa, leading some Africans, particularly in North Africa, to convert to Islam as a means of protection against enslavement.

After 10 centuries of Arab slavery in Africa, primarily in northern Africa, eastern regions and some parts of sub-Saharan Africa, the Arab invasion of West Africa's rainforest coast posed significant challenges. The dense forest terrain, unlike the north and east Africa which is mostly savanna. This hindered Arab armies and cavalry, leading them to focus on more accessible and familiar regions.

In west Africa, just like other civilizations, historical records indicate slavery has been in practice since the 13th century, long before European arrival mainly as a result of tribal and inter-tribal war of kingdom expansion but the Portuguese initiated transatlantic slave trade in the West Africa's coast, including Nigeria, in the late 15th century.

The Portuguese Empire, one of Europe's longest-lived colonial empires, began in the 15th century and expanded globally. In the late 15th century, a labor shortage arose in the New World (North, Central, South America, and the Caribbean) to cultivate sugarcane, cotton etc. Native populations struggled with the rigorous labor, prompting a search for alternative workforce sources.

Catholic Bishop Bartolome de las Casas suggested Africans as the ideal labor source due to their perceived strengths, hard work, resilience, adaptability to new climates, immunity to diseases, and supposed controllability. These criteria led to the targeting of Africans for slavery.

In the late 15th century, Portuguese explorers arrived in West Africa, ostensibly seeking gold and ivory but actually initiating the transatlantic slave trade. They employed a strategy combining religion, gifts, and money, similar to Arab methods in its religious aspect. Prince Infante Dom Henrique, who is also dubbed as ‘Prince Henry the Navigator’, was instrumental in the establishment of the slave trade in Lagos around 1444.

June 18, 1452, marks a pivotal day in the history of African slavery. On this date, Pope Nicholas V promulgated the papal bull Dum Diversas. proclaiming that Catholic nations had the authority to condemn enemies of Christ to eternal slavery. Ironically, this decree primarily targeted Africans who were not hostile towards Christianity, but rather unaware of the christian religion.

The Portuguese continued their slave trade expansion along West Africa's coast, targeting the region due to its ease of accessibility via the Atlantic Ocean. Their strategy was designed to exploit local populations, employing the same religious tactics Arabs had used to enslave North Africans. This tactic effectively facilitated the enslavement of Africans.

An African-American reader of my book, "The Escapades of Abisogun," who bought the book on Amazon contacted me  with a thought-provoking question. He praised the book's portrayal of Abisogun as a fearless warrior, acknowledging its historical fiction genre while also recognizing the accuracy of the African warrior culture depicted. He then asked, "Given the strength and bravery of African warriors, how did Europeans subdue Africa so easily and enslave its people for many years?"

I explained that European slavers, who arrived on West Africa's coast had no intention of venturing deep inland, faced three significant challenges; Fear of diseases and insect-borne illnesses due to limited medical advancements at the time. Two, unfamiliarity with West Africa's dense forest terrain, unlike Muslim Arabs who knew North Africa's landscape and most importantly awareness of West African warriors' fighting skills and resistance when united.

To overcome these challenges, Europeans exploited existing divisions among west African kingdoms, which were already engaged in wars for territorial expansion. They collaborated with willing African leaders, mostly kings who sold fellow Africans into slavery in exchange for guns and gunpowder to fuel their own wars. Also mirrors, alcohol, beads, cloth etc are traded for slaves.

The primary suppliers of slaves were African kings, warriors, and the wealthy elite. Initially, the slaves were mainly victims of war and captives of conflict, a consequence of the long history of inter-kingdom wars and territorial expansion that predated the arrival of the Portuguese. African kingdoms had been engaging in fierce battles for dominance and territory, resulting in a steady supply of war captives who were then sold or traded into slavery. This tragic reality facilitated the transatlantic slave trade, as European slavers exploited these existing divisions and conflicts to fuel their own demand for slaves.

The transatlantic slave trade escalated as European demand for sugar and cotton surged, leading to an increased need for labor. African slaves consistently met expectations. The demand for more slaves resulted in fueling wars waged solely to capture more slaves. This brutal cycle stimulates slave raiders who kidnapped, degraded, and enslaved their fellow neighbor. Additionally, artifacts, crafts, ivory and gold were looted alongside slaves by the Europeans.

During the Renaissance, Portugal dominated the global economy, thanks to its advanced navigation, exploration, and conquests. However, the Anglo-Spanish War (1585-1604) and the Battle of Swally (1612) marked the beginning of Portugal's decline. The British East India Company's victory over the Portuguese signaled a shift in power towards Western Europe, with Britain's influence growing.

As Portuguese power waned, other nations ventured into cultivating and producing sugar, cotton, and tobacco. They faced the same labor challenges and adopted the Portuguese template by turning to African slaves, particularly from West Africa, where slave trading had become entrenched as African leaders and sellers were always willing to enslave and sell their fellow Africans.

The British arrival on West Africa's coast marked a significant shift in the slave trade. Unlike the Portuguese, who introduced Catholicism, the British brought Anglicanism. Initially, slave trading was a minor business, but the British transformed it into a large-scale operation with a new format. Great Britain was the originator  of what is called The triangular trade, also known as the triangle trade. A system of three-way transatlantic exchanges that lasted for 300 years (16th to 19th centuries).

The triangular trade involved three regions: Europe, Africa, and the New World (North, Central, South America, and the Caribbean). It operated in three stages:

1. Europe to Africa: European goods like guns, gunpowder, cloth, alcohol, and tobacco were shipped to the West Africa coast and traded for slaves, mostly through barter systems. Slaves captured by fellow Africans or purchased from local slavers will be exchanged or traded for these products. 
2. Africa to the New World: Slaves were transported to the north, central and south America and Caribbean Islands, along with remaining European goods. Ship merchants sold slaves and the goods to plantation owners.

III. Americas to Europe: Slaves were sold to plantation owners, and commodities like sugar, molasses, cotton, tobacco, rum, rice, lumber, animal pelts, and more were purchased and shipped to Europe, concluding the triangular movement. This cycle repeated for 300 years.

Africans endured 1,400 years of slavery, including 1,000 years of pain and agony in the hands of Arab slavers, 100 years of sorrow under Portuguese slave traders, and 300 years of slavery under British and other European powers. The countries that dominated the transatlantic slave market until the 18th century were Great Britain, Portugal, and France.

Initially, Queen Elizabeth I opposed capturing Africans against their will, but later lent Royal Ships to slaving expeditions after seeing the huge profits available. However, abolitionism emerged as one of Britain's first lobbying movements. In 1787, the Society for Effecting the Abolition of the Slave Trade came into existence.

It also took the efforts of African writers and activists, notably Olaudah Equiano, who joined forces with influential figures like William Wilberforce MP and Thomas Clarkson to vehemently denounce and stand against the slave trade and its brutality. These writers, former slaves themselves, wrote about their horrific experiences. Abolitionists argued that ending the slave trade would save lives, open new markets, and stop an immoral practice.

Despite pro-slavery opposition highlighting the economic importance of Caribbean plantations, abolitionists presented strong arguments against the slave trade, including its immorality, humanitarian concerns, and economic benefits. They mobilized unprecedented public support through campaigns, petitions, lectures, and boycotts, ultimately hitting the slave trade's economic interests.

The abolitionist movement celebrated a major triumph early 19th century with a significant turning point in the fight against slavery, as Britain's Parliament took bold action in year eighteen hundred and seven, outlawing the exploitative slave trade through landmark legislation. Nevertheless, this landmark legislation fell short of freeing all enslaved individuals, as over 700,000 people remained in bondage within British Caribbean colonies.

Interestingly, opposition to slave abolitionism didn't only come from pro-slavery advocates in Britain, but also from some African kings who sought to maintain the profitable trade. Notably, two prominent African kings even petitioned the King of England to continue the slave trade. Although other Western European nations disagreed with abolition, Great Britain's dominant global influence deterred them from openly challenging its authority. Consequently, the slave trade went underground, with several high-profile attempts to defy Britain's ban ultimately failed.

Another factor contributing to the decline of slavery was the British Industrial Revolution (1760-1840), which brought innovative mechanization and significant social change. As Britain became the world's first industrialized nation, machines replaced human labor, reducing the demand for slaves and paving the way for the eventual abolition of slavery.

To set the record straight, Europeans did not invade West African streets to hunt slaves, as some may think. Instead, West African leaders sold their own people to Europeans. While conflicts did arise between Europeans and some African settlements, the majority of slaves were either sold to Europeans or exchanged for goods by fellow African.

In East Africa, Africa's birthplace of transborder slavery, local east Africans engaged in the sale of their fellow Africans to Arab slave traders. And the Trans-Saharan slave trade saw Muslim Arabs strategically utilizing African converts to Islam as intermediaries, enabling them to infiltrate and exploit additional African communities especially in north Africa.

The involvement of African kings in the slave trade is a complex and contentious issue, warranting careful consideration. While some African leaders and kings regrettably participated in the trade, many others demonstrated remarkable courage and resilience by actively resisting it, even sacrificing their lives in the process. Notably, numerous kings took a strong stance against slavery, refusing to sell their subjects or neighbors, and thereby protecting their communities from the brutal forces of exploitation. Likewise many anti-slavery heroes arose across Africa.

Africans are capable of resisting slavery if united, but their spirit of resistance was broken by division. Both Arabs and Europeans used division to their advantage. In North Africa, religion was used to divide, pitting converted Muslims against non-Muslims. In West Africa, religious and economic incentives motivated leaders and the affluent to sell neighbors' children into slavery.

Despite this division, historical records show that Africans resisted slavery. Between 1688 and 1807, slaves and local populations damaged nearly 20% of all slave ships. The Igbo Landing in 1803, where 75 Igbo captives revolted and chose death over enslavement, is another notable example of resistance. Many African communities also engaged Europeans in violent resistance, successfully repelling them. Tragically, many of these heroes were betrayed by their own kin, ultimately falling to their oppressors.

Slaves in the Caribbean deployed tactics like feigning illness, sabotage, damaging tools and violent insurrection to resist their enslavement. In a historic uprising, self-emancipated Haitian slaves defeated colonial forces and fended off European attacks, securing Haiti's independence in 1804 and forging the first black nation to achieve self-rule globally.

The Saharan and Atlantic slave traders both inflicted immense suffering on Africa, but their objectives, methods, religious aspects, and racist attitudes differed significantly.

Arab traders primarily sought domestic servants, soldiers, and eunuchs for their harems, whereas European traders had industrial-scale demands, seeking slaves solely for profit. Arab invaders conquered North Africa with horses and swords, offering Africans three options: convert to Islam, face death, or be taken as slaves. In contrast, European slave traders did not invade African streets but instead used local collaborators to hunt and exchange Africans for money or gifts.

During the Saharan trade and Arab expansion, conversion to Islam often provided Africans with a degree of protection from invaders, as they were then regarded as fellow Muslims. Just accepting Arab religion, customs and traditions could also offer a sense of belonging. In contrast, the conversion to Christianity during the transatlantic slave trade era presented a different scenario. European slave masters often used religion as a means to exert control over enslaved individuals' minds, aiming to subordinate their minds and maintain dominance. By accepting Christianity, enslaved people may have unwittingly facilitated their own subjugation, as their captors saw religious conversion as a key aspect of their strategy to maintain power and control. 

To maintain submission and control of slaves; suppressing slaves' cultural identities is also another task of European slave masters. Slaves were punished for speaking their languages, communicating, or praying according to their cultures, as this reminded them of their heritage, culture, roots and religion which posed a threat to slave masters. 

Remarkably, the Yoruba people successfully preserved their cultural heritage, traditions, and religious practices even after being forcibly taken from Africa, leaving an indelible mark on the Southern American and Caribbean regions. This makes them a unique exception among African tribes, as their cultural legacy continues to thrive in the New World to this day.

European slavery was also deeply rooted in racism, whereas Arab slaves could adopt Islam, and their children might not be slaves.

What's the purpose of writing this extensive article? 

Why revisit the dark chapter of slavery and its lingering impact on Africans, particularly West Africans like myself, who still grapple with Post Traumatic Slave Syndrome (PTSS)? However, while time may heal scars, understanding the root causes of our suffering is crucial for true healing. By confronting our past and acknowledging its ongoing effects, we can begin to learn from our collective experiences and move forward.

Regrettably, African leaders have failed to learn from history and continue to perpetuating a modern form of slavery in three ways:

Firstly, they prioritize their own comfort, indulging in luxurious lifestyles while their citizens struggle to access basic necessities. This is achieved through embezzlement, diverting resources meant for the masses to serve their own interests. Disconcertingly, this mirrors the actions of historical leaders who sold Africans into slavery for personal gain, disregarding the suffering and fate of their people. Just as those former kings prospered at the expense of their own people's misery, today's leaders similarly mirror the past, prioritizing personal gain and interest over the welfare of their people, thereby reinforcing a harmful dynamic of exploitation and neglect. 

Secondly, despite Africa's vast resources, many Africans are compelled to migrate to other continents in pursuit of better opportunities as a result of the bad leadership of the ruling class, only for some to encounter exploitation and racism from the same Arab and European nations that previously enslaved them. This stark reality echoes the painful history of African kings who forcibly sold their own people, including neighbors’ children, into slavery, condemning them to face brutality and death in foreign lands. The pattern of exploitation continues, as Africans are still forced to flee their homeland in search of a better life, only for some to face similar mistreatment and oppression.

Thirdly, Africa's significant debt to China and European nations is a cause for alarm, given the continent's numerous resources probably surpassing those of its creditors. Historically, when Europeans arrived on West Africa's coast, our ancestors possessed a wealth of resources, including gold, ivory, crafts and others, that can be traded. Yet, they chose to sacrifice their own people, selling them into slavery. Similarly, today's African leaders neglect the continent's abundant resources, preferring to borrow from other nations, thereby mortgaging the future of their unborn generations. This cycle of debt threatens to ensnare Africa in a modern form of slavery and enslavement. Paralleling the past, where leaders traded their children's lives for worthless items like alcohol, gunpowder and mirrors, today's leaders compromise our collective future for short-term gains, condemning Africa to debt slavery.

It is heartbreaking that the same religious ideologies used to enslave our ancestors still divide us today in Africa. Many people remain unaware that religion is a cultural construct, shaped by belief, tradition, and spiritualism. Each race and tribe promotes their own brand of religion, often at the expense of others. African beliefs are frequently deemed inferior, despite the fact that Judaism, which is the root of Islam and Christianity, borrowed significantly from African culture and traditions. This is not a condemnation or endorsement of any religion, but a call to recognize the harmful nature of religious division. If your faith leads you to see fellow Africans as enemies or unbelievers simply because they hold different beliefs, then you remain enslaved. True freedom lies in embracing our shared humanity and heritage.

What deeply saddens me is seeing North Africans, who were severely impacted by slavery, losing their cultural heritage, norms, and way of life to their Arab enslavers, yet they still manage to oppress and torment other Africans. Similarly, it is disheartening to see South Africans, who should be champions of love and understanding due to their own painful experiences, succumb to xenophobia and target fellow Africans. This irony is a painful reminder of the lingering effects of slavery and colonialism, which continue to divide Africa.

If your wealth, position, and status lead you to view fellow Africans as less human than yourself and prompt you to mistreat them, then you are indeed a slave and not the master you claim to be. That attitude is a classic example of an unrepentant slave mentality, where one's ego and entitlement blind them to the shared humanity of others.

Nothing epitomizes a slave mentality more than when you're ashamed of your language, culture, traditions, and roots. This is a affliction worse than slavery itself. As the legendary Robert Nesta Marley so eloquently put it, "Emancipate yourselves from mental slavery. None but ourselves can free our minds." When you reject your own heritage and identity, you're perpetuating a form of self-imposed bondage. True freedom begins with embracing and celebrating your authentic self, unshackled from the chains of shame and self-doubt.

African leaders must unite and strongly condemn all forms of modern slavery, which inflict intense pain and evoke the traumatic memories of our troubled past. These heinous practices include human trafficking, forced labor, sex slavery, racism, bonded labor/debt slavery, child labor, forced marriage, organ harvesting, domestic servitude, child soldiers, wage slavery, child domestic servitude, child molestation by guardians and parents, employment exploitation, forced begging, using children for street begging, woman enslavement against her will, online exploitation, and other forms of modern slavery including religion slavery. To combat these atrocities, we must raise awareness and foster international cooperation with global partners. Additionally, it is crucial to support survivors affected by these forms of modern slavery. My Emphasis is the importance of African leaders taking collective action.

It is a time for reflection, beckoning us to delve into our past, scrutinize our present, and envision a radiant future. The time has come for Africa to unite and reclaim its rightful place on the global stage. Until we embrace our shared identity and stand as one, Nigeria and Africa will remain stagnant. Let us transcend our differences and collectively strive to build nations where justice, peace, freedom and unity flourish. Together, we can forge a brighter tomorrow and make our black race proud.

Dr. Samuel Olanrewaju Bill

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The author of “The Escapades Of Abisogun”

I share some similarities with the celebrant of today, Comrade Jola Ogunlusi. Before 1996, we were both from the old Ondo state. I am from Idanre in Idanre local government of Ondo state, while he is from Esun Ekiti in Ikole local government Area of Ekiti state. Longevity runs in his family. His father died at the age of 131 while his grandmother died at the age of 122. His mother died at the age of 110. He is just 90.

He grew up with his grandmother Princess Oguntuka also from a royal family but married to Oba Adumure, Elesun of Esun-Ekiti.
At that time only two of his mother’s children survived, himself and Mrs Idowu Aruleba, mother of Gbenga Aruleba of African Independent Television (AIT). He was given many Abiku names which he jettisoned later and adopted Emmanuel Ajibola-Iya.

He attended different schools in Odo-Oke, Aiyedun and Esun-Ekiti and finally completed his standard six in 1953. There was no job for a year. He was going to the farm with his father.
But from 1955 to 1958, he was a teacher. His first salary was 48pounds per annum. It was later increased to 56pounds a year with arrears. From his salary, he bought a bicycle which he rode to school. It was a fine, well-decorated bicycle.

His preference was to study Medicine at the University. An incident motivated him. In 1955 when he was a teacher, they sent him to his only sister, Idowu, who was ill.
He returned home late in the day. They had already presumed she was dead. He went into the room, took her hand and noticed she was warm. He used his knowledge of first aid to remove the mucus that blocked her nostrils. Then she started breathing.

Comrade Ogunlusi worked in Iroyin Yoruba, Daily Sketch, Gbohun Gbohun Nigerian Tribune and New Nigerian. He worked with Lamp magazine and also wrote for the African Arik published by the University of California.

In 1977, he rose to be the National secretary of the NUJ.

In 1972, I joined the Nigerian Tribune as a reporter. We worked under our then Managing Director, Alhaji Lateef Kayode Jakande (23 July 1929-11 February 2021), who was later elected governor of Lagos state in 1979.

Those of us in the Tribune then were Mr. Osugbohun, Alfred Ilere, Soji Alakuro, Mufu Akinloye, Tope Orimoloye, Toye Akiyode (Agosco), Dan Ikuniaye, Bode Oyewole, Bayo Osiyemi, Folu Olamiti, Kayode Osifeso and others, while our news editor was Fola Oredoyin. Our Editor then was Ikhan Yakubu and our editor in chief was Mr. Kayode Bakare.
Incidentally in 1975, I was elected the western state secretary of the NUJ. A plaque is at the press centre in Ibadan today to remind us all.

I was the last person to hold that post till Oyo, Ogun and Ondo states were created on February 13, 1976 by General Murtala Mohammed GCFR (8 November 1938 – 13 February 1976). After the creation of states, there was pressure on us to sell the assets of the Western state NUJ including the present press club in Ibadan. We resisted the pressure. That is why the press centre still belong to the journalists today.

During that time, there were newspapers and there were newspapers. That was before THISDAY, DAILY TRUST, THE NATION, THE NATIONAL CONCORD, THE VANGUARD, THE PUNCH, THE SUN, DAILY TELEGRAPH, DAILY INDEPENDENT, PILOT, THE MATRIX, BUSINESS DAY, THE POINT, LEADERSHIP and other reigning newspapers of today, were established.

At that time, we had THE NIGERIAN STANDARD in Jos, THE CHRONICLE in Calabar, THE NIGERIAN TIDE in Port Harcourt, THE NIGERIAN OBSERVER in Benin city, THE DAILY SKETCH in Ibadan, THE NIGERIAN HERALD later in Ilorin, THE NEW NIGERIAN in Kaduna and the powerful DAILY TIMES in Lagos.

During this period, THE DAILY TIMES was the most circulated. There was a column in the New Nigerian then called CANDIDO. It was during this period that the celebrant of today worked in the New Nigerian. CANDIDO was a must read for decision makers in Nigeria.

To its credit, THE NEW NIGERIAN has produced outstanding journalists in this country. Among whom were Alhaji Mamma Daura, Alhaji Adamu Ciroma, the present Monarch of Badagry, Oba Babatunde Akran, Aholu Menu Toyi 1, Mr Mike Pearce, Alhaji Mohammed Haruna, Owolabi Ilori, Nat Balogun, Alaja Browne, Yakubu Mohammed, Nkem Agetua, Yinka Guedon, Clement Eluaka, Mr Tayo Kehinde, Alhaji Adamu Adamu, Chief Olugbayo Ogunleye, Mr. Gboyega Amoboye alias THE GOVERNOR, who is today the Chairman of Lagos wing of Veteran Journalists, Alhaji Turi Mohammed, Mr. Nvendaga Jibo, Mr. Stephen Bamigbele, Mr. Ndanusa Alao, Clem Baiye, Dan Agbese, Abba Dabo, James Jukwe, Moses Olorode, Alaye Gbenoba, Clement Agba, Buka Zarma, Buki Wilson, Adebola Idowu, Yinka Dagunduro, Sehinde Dagunduroro, Biola Ajoni, Victor Awogu, Otunba Segun Runsewe, Dayo Onibile, Fola Asiru and so many of them.

To count on positive things that newspapers have done for this country is like counting on the number of times the rain has fallen in a year. Let me refer to one, that still affect us today.
In January 1970, the DAILY TIMES published an editorial pleading that Nigeria must adopt left hand drive policy.

On January 30 of that year, the then head of state, General Yakubu Gowon GCFR (89), inaugurated a commission, to deal with the issue. The commission was headed by the then Chief Executive of The Daily Times, Alhaji Babatunde Jose (13 December 1925- 2 August 2008).

In March 1972, the then Minister of Works and Housing, whose Ministry was in charge of Transportation, Alhaji Femi Okunnu announced that with effect from Sunday, April 2, 1972, Nigeria would operate left hand policy. The policy is still operating till today unlike what operates in some Commonwealth countries like United Kingdom, Kenya, Australia, Uganda and South Africa.

I have spoken from the viewpoint of a newspaper man. I hope outstanding radio and television journalists like Mr. Gbenga Onayiga, Bayo Awosemo, Sola Atere, Bayo Adewusi, Vera Ifudu, Emman Okondo, Bisi Olatilo, Adebayo Bodunrin, Bola Oyeladun, Frank Olize, John Momoh, Nduka Obaigbena, Jimi Disu, Jones Usen, Chris Anyanwu, Jumoke Susan Fajana(now based in London), Yori Folarin, Mac Amarere, Lekan Alabi, Abike Dabiri, Bankole Laotan, Blossom Ubani, Augusta Maduegbuna, Seun Okibaloye, Stella Din Jacob, Ladi Lawal and so many others who are either here or here in spirit or have departed, will pardon me.

A journalist is a person who gathers information in the form of text, audio or pictures, process it into a newsworthy form and disseminates it to the public.
Journalists can be broadcast, print, advertising or public relations personnel. Depending on the form of journalism, "journalist" may also describe various categories of people by the roles they play in the process. These includes reporters, correspondents, citizen journalist, editors, editorial writers, columnists and photojournalists.

A reporter is a type of journalist who researches, writes and reports on information in order to present using sources. This may entail conducting interviews, information-gathering and/or writing articles. Reporters may split their time between working in a newsroom, from home or outside to witness events or interviewing people. Reporters may be assigned a specific beat (area of coverage).
I see journalism as a way to learn more every day and try to work on my ignorance and understand the difference ways of life and how people live. Curiosity motivates every journalist. If you want to

know the impact of a journalist just stay a day without listening to the news both in the radio, television or newspapers. It’s as if you are in a prison yard.
Our job is a noble profession. After waking up every morning, checking on his health and offering his prayers, the next thing an average journalist does is to listen to the news or read the papers. It is a very interesting routine.

Journalists always strive to be fair, accurate, and complete.
Fair means being fair to the evidence. A good rule of thumb is the more evidence you have, the less balance you need.
Accurate means verifying all the information in the story and being transparent about what you know, how you know it and what you don’t know. It also means remembering that journalistic truth is provisional. Like scientific truth, it changes over time as more evidence becomes available.

Complete means learning as much about the story through as wide an array of sources as possible so you can include a range of relevant and diverse points of view.
In the civil service if you reach the age of sixty or put in thirty-five years of service, you are to retire. And when you retire in the service you will collect your gratuity and continue to live on your pension. But in our profession, we do not retire. There is no such thing as a former journalist. There is no age limit to the practice of journalism.

The body that invited us to this lecture is called LEAGUE OF VETERAN JOURNALISTS. League means an association of persons or group united by common interests or goals. It could also mean fellowship or solidarity while a veteran means a person who has had long experience in a particular field or job. It is not a league of retired journalists.
The topic given to me is to speak on LIFE AFTER RETIREMENT FOR JOURNALISTS. I have been ruminating on the subject. And I doubt whether journalists really retire. I think the topic should have been LIFE WHEN JOURNALISTS STOP GOING TO OFFICES.

I remember a refrain that says OLD SOLDIERS NEVER DIE, THEY SIMPLY FADE AWAY. It originates from a stanza from the soldiers' folklore song Old Soldiers Never Die. In the United States, the phrase was used by General Douglas MacArthur in his April 19, 1951 farewell address to the U.S. Congress (which has become known as the "Old Soldiers Never Die" speech).

Journalists are like old soldiers. They don’t really retire they just fade away when the time comes. They are active till the end if their health can sustain them. If journalists retire why should Chief Olusegun Osoba at 85, the twice elected governor of Ogun state be reporting till today. If journalists retire why should veterans like Chief Tola Adeniyi, Sam Omatseye, Dan Agbese, Dele Sobowale, Lanre Idowu, Reuben Abati, Magnus Ibe, Bunmi Sofola, Dupe Ajayi, Medline Tador, Comfort Obi, Tunde Fagbenle, Azuibike Ishiekwene, Kayode Komolafe, Yakubu Mohammed, Ray Ekpu, Soji Akinrinade, Lade Bonuola, Bayo Osiyemi, Ayo Akinkuotu, Dare Babarinsa, Dayo Sobowale, Martins Oloja, Muyiwa Adetiba and many others still be writing columns. The truth is that journalists have an active mind. They may not be rich but they perform essential services to the world.

An average journalist has a little knowledge of everything. Although his services may not be appreciated but he or she takes satisfaction in rendering services to the world. I am proud to be a journalist.
But when we stop going to offices, we still take part in communal services to the society either in the church, mosque, communities where we live or in society generally. Some write books and hardly can you find a journalist that does not read books.

In the last two decades, technology has sparked seismic shifts in journalism. Three developments stand out: the internet, mobile devices and social media. Together, they have changed the accessibility, creation and delivery of journalism. Today, almost every adult in Nigeria connects to the internet and social media through a digital service. Their extensive use makes it easy to forget that these technologies are relatively new to our daily lives.

The old journalism that we grew up with is more or less dead, thanks to advancements in technology, a new branch has emerged—digital journalism.
New organisations now use multiple media platforms to publish content online, including: websites and blogs, mobile apps, podcasts, data analysis and visualisations, photos and videos, social media, augmented reality and interactive web experiences.

Digital media has created exciting opportunities for journalists to produce and share their stories.
In Nigeria today, social media has become a powerful source of digital news. It cannot be ignored.

The widespread consumption of social media means journalists need the skills to: connect with audiences on the most popular platforms; report in real-time on the various social platforms--this involves critical and creative thinking about the most appropriate media for each platform and build a personal brand on social media.

With this development, an active journalist must adapt to this new technology and it is impossible to retire as a journalist. Journalism is a developing profession. The public’s growing preference for digital media means that digital journalism skills are now imperative. Journalists must be able to strategically use digital storytelling tools to connect with audiences on various platforms. This means thinking critically and creatively about the best forms of media to serve the target audience.

Since most Journalists can’t take part in the only lucrative business in the country now---Party Politics—they should exploit the opportunities offered by digital journalism. The opportunities are very wide. As a matter of fact, some journalists have seized on the opportunities, some of them are now bloggers and they do it from the comfort of their homes. Life itself is a continuity. You cannot withdraw from life as long as your health can still sustain you.

I can tell you blogging it’s a rewarding way to hone your writing skills, explore new ideas and build an online presence that revolves around your passions and expertise. You’ll get the chance to inspire, educate, and entertain your readers—and as your blog grows, you can even start making money and turn it into a full-time job or use it to start a business.

In other words, blogging is the first step toward finally pursuing your dream job or favorite hobby, so you really can’t go wrong. While starting a blog might seem daunting, I’m going to walk you through every step to make it as smooth and successful as possible. The process is actually quite easy, and you’ll have your blog up and running, as well as your first blog post written, before you know it. When the journalist was regularly going to the office in his prime time, the family was the victim for lack of time, care and neglect. Now that the journalist no longer go to the office, he or she must find time for his or her family---the kids and the grandchildren.

As we all know, the family is the most important thing in this world. Family is important because if offers emotional support, nurtures a feeling of belonging, encourages educational growth, and fosters cognitive development. A family meets diverse needs throughout the various phases of life, from infancy through old age. A good family is a source of emotional support and unconditional love. Families shape an individual’s identity and belonging from old age. As social creatures, belonging to a group is important for our self-concept. Families provide a sense of social identity, a sense of self, and a feeling that we belong to something larger than ourselves.

Families instill values, beliefs, and norms in children that support a peaceful, well-functioning society. They teach kids fundamental social skills like language, customs, roles, and norms. They also shape children’s prosocial behaviors like cooperation, respect, and contribution to the community. Well-socialised children grow into productive adult citizens. I don’t think there is a better alternative than a good family. No matter the power, money and fame, there is no better prize than the family. Family adds value to life.

In Indonesia, authorities have arrested a 36-year-old man in Tangerang, West Jakarta, for allegedly selling his 11-month-old baby online for 15 million rupiah, approximately US$955.

The man, identified only as RA, reportedly used the proceeds to fund his online gambling activities and cover personal expenses, as reported by local media.

According to Tangerang City Metro Police Chief, Zain Dwi Nugroho, the case came to light on October 1 when the child’s biological mother returned from work in Kalimantan and discovered her child missing.

“She pressed RA to share the whereabouts of their child until he eventually confessed that he had sold the newborn,” Mr. Zain explained. Distressed by the revelation, she accompanied RA to file a report at the Tangerang City Police Department.

When questioned by authorities, RA initially claimed he sold the baby to relieve his financial difficulties.

However, further police investigations revealed that the money was spent primarily on online gambling, contradicting RA’s claims of financial necessity, according to news platform detiknews.

The buyers, identified by the initials HK and MO, were also arrested and are suspected of being part of a human trafficking network.

“RA saw on Facebook that the buyers were looking to purchase a toddler, so he sent them a message and arranged the purchase,” Mr. Zain elaborated, as quoted by Kompas.com.

Authorities apprehended HK and MO at a rented residence in Tangerang, where they found the baby in their possession.

The three individuals are now under investigation for suspected involvement in human trafficking.

This incident has drawn condemnation from the Indonesian Child Protection Commission.

Chief Ai Maryati expressed deep concern over the case, stating, “It is worrying that he (RA) is using his financial situation to engage in activities that are being eradicated by the state, and with children being sold, he is also violating basic human rights.”

Maryati further highlighted that such actions represent a severe violation of children’s rights, which should be met with strict legal repercussions.

Under Indonesian law, human trafficking is punishable by up to 15 years in prison and a fine of 600 million rupiah, while violations of child protection laws carry similar penalties, including a maximum prison term of 15 years and a fine of 300 million rupiah.

The sale of children due to economic hardship is not an isolated incident in Indonesia.

Ms. Maryati mentioned another recent case she handled in which babies were sold from Depok, Jakarta, to Bali, citing poverty as a major factor.

In September, Depok police dismantled a baby trafficking ring, arresting eight suspects involved in the illicit sale of newborns via Facebook.

According to Depok Police Chief Arya Perdana, these infants were being bought from parents in Depok and later sold for higher prices in Bali.

Ms. Maryati emphasized that there are no justifications for exploiting children in such a manner.

“There is no excuse to be treating children this way, and violation of their rights has to be punished severely,” she remarked.

She urged the government to take decisive action against human trafficking and online gambling, advocating for long-term solutions focused on education and public awareness.

The rise of online gambling has become a growing concern in Indonesia, with an estimated 4 million Indonesians engaged in these activities, according to Communications and Information Minister Budi Arie Setiadi.

He described online gambling as “a serious threat to the country,” particularly among the 30 to 50-year-old age group.

Minister Setiadi’s comments underscore the broader societal issues contributing to cases like RA’s, where economic desperation leads individuals to take extreme and illegal measures.

The Asian Development Bank estimates that over 9.4 percent of Indonesia’s population was living below the national poverty line in 2023, a statistic that illustrates the economic challenges facing many Indonesian families.

[Punch]

The Supreme Court, on Tuesday, fixed Oct. 22 for the hearing of a suit filed by at least 16 state governments challenging the constitutionality of the laws establishing the Economic and Financial Crimes Commission (EFCC) and two others.

A seven-member panel of justices, led by Justice Uwani Abba-Aji, fixed the date after the states were joined as co-plaintiffs and leave granted for consolidation of the case in the suit originally filed by the Kogi Government through its Attorney General (AG).

The states that joined in the suit marked: SC/CV/178/2023 include Ondo, Edo, Oyo, Ogun, Nassarawa, Kebbi, Katsina, Sokoto, Jigawa, Enugu, Benue, Anambra, Plateau, Cross-River and Niger.

The 16 states said they are relying on the fact that the constitution is the supreme law and any law that is inconsistent with it is a nullity.

The plaintiffs argued that the Supreme Court, in Dr Joseph Nwobike Vs Federal Republic of Nigeria, had held that it was a UN Convention against corruption that was reduced into the EFCC Establishment Act and that in enacting this law in 2004, the provision of Section 12 of the 1999 Constitution, as amended, was not followed.

They argued that, in bringing a convention into Nigerian law, the provision of Section 12 must be complied with.

According to them, the provision of the Constitution necessitated the majority of the states’ Houses of Assembly agreeing to bring the convention in before passing the EFCC Act and others, which was allegedly never done.

The argument of the states in their present suit, which they said had been corroborated by the Supreme Court in the previous case mentioned, is that the law, as enacted, could not be applied to states that never approved of it, in accordance with the provisions of the Nigerian constitution.

Hence, they argued that any institution so formed should be regarded as an illegal institution.

When the case was called on Tuesday, lawyers, who represented the states, made their submissions.

While the majority sought to be joined as co-plaintiffs, two of the states prayed for an order for consolidation of the case.

Kogi AG’s counsel, Abdulwahab Mohammed, SAN, informed the court that there were states that indicated interest in consolidation of the case and those seeking to be joined as co-plaintiffs.

“It is for this honourable court to tell us how to proceed my lord.

“Out of about 15 states, there are about 13 of them that have indicated interest to be co-plaintiffs and only two want consolidation.

“To make the task of the court easier, those who want to be joined as co-plaintiff should be joined and abide by the processes already filed and those who sought consolidation should be asked to file within seven days,” Mohammed said.

After the lawyers’ submissions, Justice Abba-Aji granted their prayers.
She adjourned the matter until Oct. 22 for a hearing.

The Kogi State AG had, in the suit number: SC/CV/178/2023 sued the Attorney-General of the Federation (AGF) as sole defendant.

In the originating summons filed by a team of lawyers led by Prof .Musa Yakubu, SAN, the state raised six questions for determination and sought nine reliefs.

The Kogi government sought a declaration that the federal government through the Nigerian Financial Intelligence Unit (NFIU) lacked the power to issue any directive, guideline, advisory or any instrument however called for the administration and management of funds belonging to the state.

The government also sought a declaration that the EFCC, the NFIU or any agency of the federal government cannot investigate, requisition documents, invite and or arrest anyone concerning offences arising from or touching on the administration and management of funds belonging to the state.

[Vanguard]

OPENING ADDRESS BY PRESIDENT BOLA AHMED TINUBU, GCFR, AT THE 54TH ANNUAL ACCOUNTANTS CONFERENCE: "GOVERNANCE REIMAGINED: MAPPING THE FUTURE", TUESDAY, OCTOBER 8, 2024

(DELIVERED BY ABUBAKAR ATIKU BAGUDU, MINISTER OF BUDGET AND ECONOMIC PLANNING)

PROTOCOL

Ladies and Gentlemen,

1. It is with profound honour that I stand before you today as the President of the Federal Republic of Nigeria and a fellow advocate for transformative governance. I welcome all the distinguished guests, esteemed speakers, and dedicated participants in this pivotal annual accountants’ conference.

Today, we unite under the visionary theme: Governance Reimagined: Mapping the Future.” This theme captures our aspirations and marks a significant milestone in our journey towards refining governance and fortifying accountability across our great nation.

2. As we convene in this esteemed assembly, I would like to pose a question: How can we, as stewards of governance and accountability, harness our collective expertise to foster a more
transparent, efficient, and equitable society?

Your role as accountants in cultivating transparency, upholding integrity, and managing our nation’s resources adeptly is indispensable. Your expertise does not merely shape our economic landscape—it fortifies the foundation of trust upon which our societal progress is built.

3. We convene at a time when the governance landscape is dramatically evolving, presenting challenges and opportunities that demand innovative solutions and proactive strategies. The advent of emerging technologies opens new avenues for enhancing accountability and transparency. We must foster robust collaboration and networking among policymakers, regulators, and professionals to harness these opportunities effectively.

4. Your profession provides you with the skill set to appreciate a company or Government strategy. Some of you are at the heart of or have been involved with turnaround for companies and choices necessary for survival in a competitive environment. The Renewed Hope agenda is our strategy for Nigeria to confront her reality: we are not where we want to be, we are not growing fast enough, and decades of underinvestment have limited the economy from delivering on its potential.

5. The Necessary Choices, pleasant and otherwise, we made in the last 17 months were designed to stop the decline and put us on a path to higher, sustainable, and inclusive growth. It is encouraging that GDP growth for the first and second quarters of 2024 was positive while inflation turned downwards. The foreign exchange market is stabilising, and we see encouraging investment signals.

6. We are continuing with innovative reform measures: digitisation of revenue collection and government services, consumer credit system to boost manufacturing and enable access to goods and services, mortgage system reform to provide wider opportunities for home ownership, CNG penetration to offer cheaper and alternative energy sources, and agriculture development fund to de-risk agricultural investments further.

7. Our reforms include removing punitive subsidies to the economy. Revenue bleeding has reduced, and the three tiers of Government are receiving higher allocations, which enable more support to vulnerable populations. Social investment spending is increasing, the minimum wage has increased, student loans are available, and interventions to support NANO, MSME, farming, fishing, and the livestock sector have increased.

8. Our collective vision for Nigeria’s future is anchored on strengthening our institutions and nurturing a pervasive culture of accountability. We are committed to leveraging cutting-edge
technologies to boost transparency and efficiency and cultivate strategic partnerships that pave the way for sustainable development.

9. As we delve into the complexities of governance, I call upon each of you to participate actively in the dialogues unfolding over the next few days. Share your unique insights and forge new connections. Together, let us develop actionable plans to lead Nigeria towards a future where governance is synonymous with integrity, transparency, and accountability.

10. With great enthusiasm and driven by our shared commitment to excellence in governance, I officially declare the 54th Annual Accountants Conference open.

Let us embark on a path of meaningful discussions and enriching knowledge exchange.

Thank you for your attention, your dedication, and commitment to the noble cause of reshaping our nation’s destiny. Let us reimagine governance and map a future that generations will look upon with pride.

President Bola Ahmed Tinubu, GCFR

HIGH EXPECTATIONS AND RISK