Sunday, 19 May 2024 11:58

Economy: Nigeria still sitting on time bomb —Primate Ayodele

Says things may get worse even till 2026

‘This govt should go into agriculture...’ he declares

 

Seer and spiritual head of Inri Evangelical Spiritual Church, Primate Elijah Babatunde Elijah has to his credit a catalogue of fulfilled prophecies. These include the current political state in Chad; the Togolese constitutional amendment; the coup against Ali Bongo as Gabon’s president; warning against increment in Nigeria’s VAT and stamp duty; the current legal crisis that Nigeria’s ex-CBN governor, Godwin Emefiele, is faced with; the economic hardship being faced under the current presidential administration, among several others. In this interview, Ayodele speaks on what Nigeria and the rest of Africa should expect.


Security

NIGERIA’S military should build three towers to curb the incessant killing of military personnel and to help end insecurity in the country. ISIS, Boko Haram, and Al-Qaeda are working to form a formidable network to attack the nation’s military convoys and formations. There are moves to attack some sensitive places. The military must rise against these for them not to happen. They must be watchful and careful. The military must carry out airstrikes and cleansing in the locations where these terrorists are lodged. One of the top second-in-commands of Boko Haram will be arrested. There will be a rise in kidnappings in the country which will unsettle the military. The following states should be under serious security surveillance: Kogi, Kaduna, Sokoto, Yobe, Benue, Taraba, Nasarawa, Adamawa, Niger, Imo, and Anambra.

There will be disasters as a result of floods. This will render many people homeless, thereby creating panic and tension. The government must do something about it very urgently to avert it. We must pray against attacks on our refineries. We must also pray against gas and tanker explosions in the country. We must pray against the collision of airplanes. Let them keep all our airports safe against fire outbreaks. We must protect all our universities.

The African continent

There will be moves to construct inter-regional road networks to create free trade zones in Africa. Also, another coup is possible in Africa. Burkina Faso must be very careful. Mali must be very careful. Gabon must be very careful. This is because of unexpected coup attempts. In Chad, the president will make advances to remain in office for a very long time beyond what is allowed. He will take over the sectors of the country. He wants to become a life president. The military will rise against him. The Togolese president, Faure Essozimna Gnassingbé, will go for another term in office. There will be political tension in Togo. In Benin Republic, there will be confusion on who to pick but the president will pick someone in his cabinet who will take over from him. If he picks someone in his cabinet, not an outsider, then the election will be tough for the opposition parties. A close associate of the president will be up against him. The coming election in Benin Republic will shock the opposition.

 

Let us pray not to lose any president or former president in Africa; we must also pray that no president will be incapacitated. The Togolese head of parliament, the Benin Republic’s head of parliament, and Congo Brazzaville’s head of parliament must pray for good health. China will take over the economic direction of many African nations. China will enslave a lot of African nations. Africa will have so many financial difficulties. Some African countries will go into recession. Some nations will experience natural disasters. The president of DRC will have tough times ahead as a result of many political tensions. This country must be very careful. It should pray against natural disasters. Cote d’Ivoire will experience flooding. The same thing will happen in Cameroon. Also, the Benin Republic and Niger must watch very closely against this. In Mozambique, the current president will not be allowed to run for another term. Someone else will take over; whoever this is will be from the ruling party. He will be the next president of Mozambique.

Politics

Peter Obi is not ready to be Nigeria’s president. His plans to be president in 2027 are not intact. There is no certainty that he can be president in 2027. If former Vice President Atiku Abubakar decides to run in 2027 on PDP’s platform, the party will lose. Only a new presidential candidate from the PDP will take the party to the next level. The northerners will gang up against President Bola Tinubu; the northern region will be divided about Tinubu. A sitting governor will decamp from PDP if the party is not careful enough. Let us pray against accidents and attacks on governors’ convoys. Not all Tinubu’s cabinet members will finish their terms in office. Some of his ministers will be removed. We must pray against death or explosion at the villa. We must also pray against protocol breaches at the villa. The president must address the issue of hardship in the country. I see this hardship turning into a mass protest. If the president does not implement regulations in his government, this will affect him within three to four months from now. Nyesom Wike should leave Governor Fubara alone. It is not his war because God is fighting for Fubara. Also, there should be no political tension in Taraba. The current governor will take the state to greater heights. God is with the governor. Osun APC will experience more crises. Not all the governors will finish their term in office.

Economy

The exchange rate between the naira and the dollar will not go down despite the work being done at the moment. Nigeria will still borrow money despite the huge debt profile of the nation. China will take over a part of the economic governance of Nigeria. This government should go into agriculture. Many states will collapse under the weight of the proposed minimum wage. Nigeria’s civil servants should not be deceived because the government cannot pay a minimum wage of N120,000. Let them fight against hunger in the land. The price of a bag of rice cannot be reduced to N30,000 anymore. The government must fight against hunger, famine, and food scarcity. Many economists are deceiving Tinubu’s government. Many of them are not qualified to be in his economic team. They are only there to carry out their business. Unless the government has its cement factory, a bag of cement cannot be bought for N2,000. The economy will bite very hard if it is not handled very well and very quickly. Nigeria is sitting on a time bomb. Many are deceiving the president. The economic team is doing nothing. I warned earlier that the energy tariff would be increased. What do we do now? Tinubu needs to review his cabinet. Many of them don’t know why they are there.

The truth is bitter. The president is refusing to listen to the truth. Let him look for people who are proactive and are ready to work. The people surrounding him are not ready to work. Our economy is not smiling. Nigeria will experience more inflation. It cannot come down this year. No magic can be done in this regard this year. If care is not taken, it will be extended to 2026. Concerning the crisis in the price of petrol, the Nigerian government is yet to do the right thing. Until we refine crude oil ourselves, the pump price will not come down. The Dangote refinery will not help at all. We are just deceiving ourselves.


The following banks should be watchful so as not to run into unforeseen crises: First Bank, Titanic Bank, Providus Bank, Stanbic IBTC, Access Bank, Zenith Bank, Union Bank, Wema Bank, and Heritage Bank. They must be very careful and they must pray not to lose any of their prominent directors. The names of some banks will be changed.

 

Telecommunications

I have seen another indigenous telecommunications trying to start operations in Nigeria. This is meant to compete with Globacom. Globacom will have several challenges; there are moves to knock Globacom out of operations. Despite all these challenges, Globacom will remain a leading telecommunications company. Yet, the company must be careful. 9Mobile will retrench some of its workers. Airtel will be penalized. Meanwhile, the government will increase VAT on telecommunications. There will also be an increase in the tariff paid on telecommunication. This will affect the services of the telecommunications companies. The NCC will issue a notice to all telecommunications companies which will be protested seriously against. There will be issues with Nigeria’s satellite.



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