The Governor of Rivers State, Siminalayi Fubara, has hinted that his predecessor, Nyesom Wike, is set to dump the Peoples Democratic Party (PDP) for the All Progressives Congress (APC).

Naija News reports that the governor gave a hint on Sunday at a thanksgiving reception for Wike at his private residence on Ada-George Road in his hometown, Rumueprikom, in the Obio-Akpor Local Government Area of the state.

Political bigwigs at Wike’s reception include President Bola Tinubu, represented by Lagos State Governor Babajide Sanwo-Olu.

Other guests at the event were Governor Caleb Mutfwang (Plateau), high-ranking APC stalwarts, and members of the 10th National Assembly, including Deputy Senate President Barau Jibrin, ex-Edo State Governor Adams Oshiomhole; ex-Governor of Ebonyi State, Dave Umahi; member representing Borno South Senatorial District, Ali Ndume.

Acting PDP Chairman Umar Damagum; former Governors Peter Odili (Rivers), Abdullahi Ganduje (Kano), Ayo Fayose (Ekiti), and James Ibori (Delta), as well as all G5 members, attended the event.

Speaking at the thanksgiving, Fubara urged Wike not to stay away from him even if he crosses over to the other side of the political divide.

He said: “While we are seeing sign that it’s like you want to go over to the other side with everybody wishing that, please don’t be too far from me because I know that the sharks, the tigers are really around looking for what to hurt.

“So, being around would continue to guide and put my head straight for the purpose of this state.”

Naija News reports that speculations have emerged that the former Rivers State governor could dump the PDP for the ruling APC.

Recall that Wike and four other governors had refused to back his party’s presidential candidate, Atiku Abubakar, during the 2023 general elections, supporting the candidate of the APC, Bola Tinubu.

Justice Rabiu Gwandu of the National Industrial Court, Lagos, has fixed July 7, 2023, for definite hearing on the $4.2 million suit instituted against a multinational oil company, ExxonMobil Corporation and its parent body, Mobil Producing Nigeria Limited, by its former staff, James Nwagbogwu Ebede, over alleged forceful retirement.

Joined as co-defendant in the suit is the Vice President and the overall executive officer of ExxonMobil Iraq Limited between 15th February, 2017 and December, 2017, Mr.Ronald W. Romere.

Last Friday, the hearing of the case was supposed to resume, but the lead counsel, for the defence, Paul Usoro, was absent but sent a letter to the court, that he may not be able to come to court that day as he was busy attending to election petition matters at the election petition tribunal, and that the cases at the tribunal were time-bound. He therefore asked for adjournment.

However, James Ebede’s counsel, Chucks Nguru, objected to any adjournment been given on the ground that, the case had lingered for long time since 2018, adding that his client has no access to his property as they have all been locked up.

He urged the court to allow his client to be cross examined or the defence should forfeit the right of cross examination
He also stated that the defendants were in contempt of the court, because they have not obeyed the order of court that directed them to deposit $4.2million money in an interest yielding account.

Consequently, Nguru, told the court that Usoro has a big law firm with retinue of lawyers who could adequately represent him.

On the issue of contempt proceeding, lawyer representing Exommobil M A. Sowumi, told the court that, they have appeal against the ruling of the court and filed stay of execution of the order, but Nguru told the court that the contempt, proceeding was a separate case on its own.

He said since the order was made nothing has been done.

Court had ordered that the 2nd defendant, Mobil Producing Nigeria Unlimited to furnish an account in any name with enough funds to offset the Judgment of this Honourable Court should the claimant’s claims succeed, but the company has failed to obey the order of the court.

Leading to the issuance of form 48 consequence of disobedience to order of the court against six officials of the company namely Richard Lang, Alexander Savva,Mr Olusegun Banwo, Dozie Adesuwa, Aliyu Bala and Adelabu Adedoyin.

In a statement of fact filed before the National Industrial Court on behalf of the ex -ExxonMobil corporation staff, Ebede stated that he worked with the company from December, 2001 to 2018, as an Engineer and that because of his consistent excellent performance, he was at various times given important responsibilities.

He said in 2015, he was deployed to Dubai, with the posting to last till December 2017, but that he was forcefully redeployed back to Nigeria and retired because he refused to carry out dishonest actions that he was being compelled to do by the manager of ExxonMobil while on assignment in the United Arab Emirates and Iran.

According to him, on his return to Nigeria, further punitive actions were taken against him leading to his forceful retirement Some of these actions, he said, were: the company attempting to compel him to employ unqualified engineer and that on several occasions, attempt were made to compel him to sign off uncompleted and poorly executed project as completed, among others.

Consequently, Ebede is claiming $4.2 million as general damages for the emotional stress he had suffered;

N114,992,096 being the equivalent of 32 months salary which the defendant ought to pay him for his forceful retirement and also demanding published public apology in two daily newspapers and two international newspapers.

However, the defendants, in their preliminary objection filed before the court urged the court to decline jurisdiction to entertain the suit on the ground that the ExxonMobil company is an entity incorporated under the laws of the United States of America, saying that the Nigerian court lacked jurisdiction to entertain the matter.

In his submission Ebede’s counsel contended that the company not only conducts its business in Nigeria by means of subsidiaries, but also operates directly in Nigeria as it held operating interest in several Oil Mining OML and therefore urged the court to dismiss the objection of the defendants.

In his ruling, the presiding Judge, R. H. Gwandu, while adjourning for hearing said, “I hold that this court has the jurisdiction to adjudicate on issues contained in the claimant’s suits both by subject matter and territory, the claimant having shown sufficient cause of action against the defendant.”

Forbes Real-Time Billionaire Index and Bloomberg Billionaire Index which measures the wealth of the world’s richest people are currently at variance on who is Africa’s richest man.

Forbes real-time billionaire index says the Chairman of the Dangote Group, Aliko Dangote, has lost his position as Africa’s richest man.

Forbes index showed that Dangote has been displaced by South African businessman Johann Rupert and Family who now ranks 145th place globally and number one in Africa.

According to Forbes, Dangote’s wealth is currently $10.7bn, making him rank 171 positions in the world and second in Africa only behind Rupert.

South Africa’s Rupert is worth $12bn, as of Monday.

But the Bloomberg index showed that Dangote is still Africa’s richest man with a net worth of $16.8bn declining from over $20bn. He is ranked 101 places globally in Bloomberg’s Index.

Bloomberg says Rupert and family are worth $13.6bn and 137th place globally and second in Africa.

Dangote’s wealth fell due to the free float of the naira by the Central Bank of Nigeria.

The currency which previously traded at N464 at the Investors’ and Exporters’ window fell to a height of N791 to the USD and closed on Friday at N663.04 against the dollar.

This has affected the valuation of the traded stocks of Dangote on the Nigerian Exchange Limited in dollar terms.

How Forbes’ and Bloomberg’s Real-Time Billionaires Ranking Works

Forbes track the “wealth-tracking platform provides ongoing updates on the net worth and ranking of each individual confirmed by Forbes to be a billionaire. The value of individuals’ public holdings are updated every 5 minutes when respective stock markets are open (there will be a 15-minute delay for stock prices).

“Individuals whose fortunes are significantly tied to private companies will have their net worths updated once a day. In cases where an individual owns a stake in a private company that accounts for 20% or more of his or her net worth, the value of the company will be adjusted according to an industry- or region-specific market index provided by our partners at FactSet Research Systems when available.

“A rotating cast of the five biggest winners and losers throughout the day is featured at the top of the page, followed by the complete list of billionaires ranked in order of net worth.”

Bloomberg said while calculating net worth, it considers dividend income paid and proceeds from the sale of public and closely held shares.

It deducts taxes based on prevailing income, dividend and capital gains tax rates in a billionaire’s country of residence.

It said, “The index is a dynamic measure of personal wealth based on changes in markets, the economy and Bloomberg reporting. Each net worth figure is updated every business day after the close of trading in New York. Stakes in publicly traded companies are valued using the share’s most recent closing price. Valuations are converted to U.S. dollars at current exchange rates.

“When ownership of closely held assets cannot be verified, they aren’t included in the calculations. The specific valuation methodology for each closely held company is included in the net worth analysis section of a billionaire’s profile. Additional details included in the valuation notes for each asset are available to subscribers of the Bloomberg Professional Service.

“A standard liquidity discount of 5 percent is applied to most closely held companies where assets may be hard to sell. When a different percentage is used an explanation is given. No liquidity discounts are applied to the values of public stakes. In some instances, a country risk discount is also applied based on a person’s concentration of assets and ease of selling them in a given geography. A country’s risk is assessed based on Standard & Poor’s sovereign debt ratings.

“If a billionaire has pledged as collateral shares he or she holds in a public company, the value of those shares or the value of a loan taken against them is removed from the net worth calculation. If reliable information can be obtained about the ultimate use of those borrowed funds, that value is added back into the calculation.”

Nollywood actress, Didi Ekanem, has expressed interest in marrying a man like her colleague, Sylvester Madu, who went viral online for selling second-hand clothes popularly known as Okirika.

Naija News reported that Sylvester a few days ago addressed fans who expressed surprise over his choice of earning a living.

The actor while reacting after a video of him made rounds online, took to the video-making app, Tiktok to proudly show off his ‘business empire’ with multiple people selling various kinds of second hand goods.

The movie star who went live while at his business location also described those who found his “hustle” strange, as foolish.

Commenting on an Instagram blog, Didi Ekanam said she has so much respect for her colleague and he is the kind of man she will gladly marry.

The thespian added she would be willing to join her partner in such kind of business knowing she can have peace of mind.

She wrote: “I have so much respect for you sir… This is the type of man I can literally marry in a heartbeat and join him to hustle knowing that I can sleep well at night.”

Meanwhile, popular Nollywood actor, Mcsmith Ochendo, declared he is currently a native doctor while reacting to a video of his colleague, Sylvester Madu, who was spotted selling second-hand clothes called ‘Okrika’.

Reacting to the video, Ochendo, in what seemed like a joke, claimed he has turned to a native doctor and that people should leave Madu alone.

No fever than 300 officers in the Ogun State Civil Service who have acquired additional qualification were seeking for upgrade into the Professional and Sub-Professional officer's cadre have sat for upgrading examination.

Speaking to journalists during the monitoring exercise of the examination which was held at the Federal University of Agriculture, Abeokuta, the Chairman of the Commission, Engr. Tokunbo Odebunmi said the upgrading would encourage officers to always acquire knowledge that would help them in  career progression.

Engr. Odebunmi, according to his Press Officer, Mrs. Fatimah Alatishe, expressed satisfaction at the conduct of the examination and the commitment of officers in the Ministries, Departments and Agencies (MDAs) towards the implementation of the developmental agenda of government in uplifting the state to an enviable heights .

 He assured workers in the State that the present administration would not relent in providing necessary resources and support to improve their productivity.

"Civil Servants are not lazy, you see a lot of them trying to improve themselves by going to school to acquire more knowledge and doing more to enhance their productivity. This is a positive step to achieve more success in the service of the State.

"Despite the fact that  government is aware that this exercise will have increased effect on labour earnings, Civil Servants cannot be stagnant, as they are providing their service, they also must be recognized and be renumerated", he said.

On his part, the Permanent Secretary in the  Commission, Mr. Adedayo Somoye appreciated the state government for creating an enabling working environment for the Civil Servants to flourish and focus in the discharge of their duties.

Speaking on behalf of the candidates, Mrs. Titilayo Osoko of the Ministry of Information and Strategy and Mr. Moses Bankole from the Traffic Compliance and Enforcement Agency (TRACE), lauded the State government and the Civil Service Commission for the conduct of the examination, saying it would bring about exceptional growth and developmental workforce.

Recently, I have been seeing some contracts of employment (offer letters) laced with some obnoxious clauses; one of which caught my attention is the clause that you are not allowed to leave the job for a so-so number of years and if you do you will have to pay the company a so so amount. This is to say that as a part of the employment requirement, you are not allowed to quit or resign from the job for whatever reason for a period of years and if you do or if you intend to do that you will refund the company 80% of the salary they have paid you and if you decide to play smart and relocate out of the country or elope, the guarantor whom you provided and have signed off on your behalf before you got the employment will be closed on by the company. 

A friend who got a job with an investment bank drew my attention to this because his offer letter also contained this clause and 

an internet user recently posted something similar to this; he was offered a job as a medical laboratory scientist, with a pay of N270k per month but with a non-negotiable clause in the offer letter that he must not leave or resign from the job for the next 2 years and if he does or intends to resign before the expiration of two or more years he must refund 80% of every monthly salary ever collected. 

This type of contract of employment clause as I have got to know is quite familiar in the banking and medical industry. 

Now the big question is; what is the legality and enforceability of clauses like this in the contract of employment; are they legal and are they enforceable in court? 

The simple answer is that conditions or clauses like this embedded in a contract of employment are not legal and enforceable. You can leave or resign a job whenever you want despite whatever clause or time bond you signed, as long as you have given the organization a reasonable notice of your intention to resign or quit. Even if you leave without notice, the employer cannot enforce that clause of you staying for stipulated years in court because such clauses are illegal and the court can not be used to enforce an illegality. 

Loosely speaking, parties are at liberty to contract however they wish and add covenants and clauses they deem fit into the contract and the parties are to be bound by those clauses in the contract but such contractual clauses must always conform with legality for it to be valid, legal and enforceable in court. This is to say that the liberty or freedom of contracting parties to make their contract has its limitations.

Why such a clause in a contract of employment of working for a stipulated number of years before you could leave is illegal and enforceable is that such clause subjects an employee to servitude and both the constitution and other labour laws prohibit contract of servitude. 

Lawyer’s closing note; if you get a good job with good pay but the job comes with a time-bound clause, go ahead and take the job and you can leave whenever you like because such clauses are not legal and can never be enforced against you, just ensure to give the organisation a reasonable notice of your intention to resign before you leave so as to satisfy the provisions of the labour law. 

Globally, subsidies, whether for food, transportation, energy or housing, are part of good governance. So, the issue is not subsidies but who benefit from them. In Nigeria, subsidies are primarily of the rich, by the rich and for the rich. I will highlight a few, how they are being manipulated and how huge sums of money can be recovered not just to subsidise fuel but also provide funds for development.

1. Diversion of N40 billion from Federation Account

A company, Continental Transfert Technique had been hired by the Ministry of Interior to collect the Combined Expatriate Residence Permit and Alien Card, CERPAC, fee of $2,000 per annum from every expatriate in Nigeria. The revenue from 2019 comes to an average of N40 billion per annum. This collection which violates Section 162 of the Constitution and provisions of the Immigration Act 2015, is then shared on percentages of Federal Government, 30; Interior Ministry, 7; Immigration Service, and Continental Transfert Technique, 58 per cent. We challenged this illegality at the Federal High Court and won the cases. The court directed the NIS to collect the funds henceforth and remit same to the Federation Account. But the contractor and the Federal Government appealed against the judgement and have continued to share the N40 billion per annum.

2. Additional Revenue of $1.5 billion payable to Federation Account

In July 2015, I drew the attention of the Federal Government to the fact that the 15-year fiscal incentives given to the oil and gas companies operating under the Deep Offshore and Inland Basin Production Sharing Contracts Act had expired in June 2014. When the Federal Government ignored our request, we drafted a Bill for the amendment of the law. The Bill which was adopted and sponsored by Senator T. Orji scaled the first reading in the Senate but was not passed before the dissolution of the 8th National Assembly. However, the same Bill was modified and passed by both houses of the 9th National Assembly and assented to by President Buhari on November 4, 2019. In justifying the passage of this Bill, then Senate President Ahmed Lawan announced that the new law would increase the revenue of the nation by not less than $1.5 billion per annum.

3. Outstanding royalties of $62 billion

In campaigning for the amendment of the Deep Offshore and Inland Basin Production Sharing Contracts Act, I requested the Federal Government to collect outstanding royalties payable by the International Oil Companies under the Act. The Federal Government admitted that the country had lost a whopping sum of $60 billion. But my demand for the collection of the huge fund was ignored.

The governments of Rivers, Akwa Ibom and Bayelsa states then approached the Supreme Court which on October 20, 2018 ordered the Federal Government to collect the royalties for the past 18 years. The Federal Government confirmed that the outstanding royalty withheld by the IOCs is $62 billion but has refused to collect it.

4. FG denied revenue of $500 million by a group of corrupt public officers

The international Cargo Tracking Note Scheme to protect international shipping and prevent the movement of dangerous cargo and arms shipments was introduced into Nigeria in 2010 via an agreement between the Nigerian Port Authority and TPMS, a private company. Barely a year later, the agreement was suspended. When our attention was drawn to the illegal suspension of the Cargo Tracking Note system, we protested and the suspension was lifted on May 28, 2015 only to be suspended again in 2016.

In 2022, President Buhari issued an executive order which authorised a company to operate the Cargo Tracking Note. But five companies sponsored by top government functionaries overruled the President and hijacked the contract. The company that won the contract has since sued the Federal Government at the Federal High Court. Meanwhile, Nigeria has lost at least $500 million while the security of the nation has been compromised by a bunch of corrupt public officers.

5. Sale of public assets and enterprises

Successive regimes have been selling assets and enterprises owned by the Federal Government to members of the ruling class in the name of privatisation. The buyers turned round to engage in  asset stripping. According to the Bureau of Public Enterprises, between 2004 and 2002, the Federal Government sold 142 public enterprises to members of the ruling class. The 10 per cent shares reserved for the staff of every privatised enterprise have been cornered by the so called “core investors” contrary to the provision of section 5(3) òf the Privatization and Commercialisation Act.

6. $7 billion fixed in 14 banks

Sometime in 2006, the CBN yanked off $7 billion from the nation’s foreign reserves and fixed it in 14 commercial banks in Nigeria. The deposit and the accrued interests were not recovered from the banks. When I reported the matter to one of the anti-graft agencies, the CBN claimed that it had forgiven “the forbearance”.

7. Sale of Polaris by Heritage Bank, Keystone Bank, Union Bank and Polaris Bank by CBN

The CBN took over Heritage Bank, Keystone Bank, Union Bank and Polaris Bank, spent trillions of Naira to revitalise them only to turn round to sell them under the table. For instance, CBN invested N1.3 trillion in Polaris Bank but sold it for N50 billion!

8. Theft of Crude oil

The Nigerian Extractive Industries Transparency Initiative, NEITI, has revealed that Nigeria lost 619.7 million barrels of crude oil valued at N16.25 trillion ($46.16 billion) to crude oil theft between 2009 and 2020. Immediate past National Security Adviser, General Babagana said that Nigeria might lose $23 billion in 2023 to crude oil theft.

9. Theft of gold and other solid minerals

The theft of the nation’s mineral resources is not limited to crude as solid minerals are equally smuggled out of the country by highly placed criminal elements. Former Minister of State for Mines and Steel Development, Dr Uche Ogah, recently disclosed that private jets are being used by the rich for gold smuggling in Nigeria. He stated this at an investigative hearing on $9 billion annual loss to illegal mining and smuggling of gold organised by the Senate Committee on Solid Minerals, Mines, Steel Development and Metallurgy. During his contribution at the hearing, Senator Orji Uzor Kalu disclosed that Nigeria lost close to $54b from 2012-2018 due to illegal smuggling of gold.

10. AMCON is owed N5.4 trillion by the rich

A few years ago, commercial banks were going to collapse due to  toxic loans taken by members of the ruling class. To prevent the impending economic doom, the Federal Government set up the Asset Management Corporation of Nigeria, AMCON, to buy off the loans with trillions of Naira provided by the CBN. AMCON has not been able to recover the loans of N5.4 trillion from about 370 corporate bodies.

11. Indiscriminate import duty waivers

A few privileged members of the business community buy dollars at official rate while they are allowed to import all manners of goods into the country. In the last five years, import duties worth N16 trillion were waived for them.

12. Effort to track and monitor tankers conveying fuel sabotage by NNPC

On August 8, 2018, the Federal Executive Council, FEC, approved the installation of technology monitoring schemes and structures under the Petroleum Equalisation Fund, PEF, for N17 billion. The technology which was designed to track and monitor tankers conveying fuel and other petroleum products was not acquired while the N17 billion approved for it was diverted.

13. N10 trillion diverted by CEOs of government enterprises

The Buhari government revealed in December 19, 2018 that government enterprises including the CBN owed about N10 trillion in unremitted operating surplus as at August 2018. The details were provided. The said sum of N10 trillion remains unpaid.

The Minister no doubt enjoyed her trip to Nigeria and Lagos in particular as during her interactions with Nigerians throughout her official visit, she never failed to allude that Nigeria is a good place as her French colleagues, including the French Ambassador, Emmanuelle Blatmann who accompanied her all through the visit were ecstatic and at home with Nigerians.

The Minister may also be re-echoing what she has been hearing from her boss, President Macron who was quoted by Habib Haruna, Chief Press Secretary to former Lagos State Governor, Ambode during his visit in 2018 that “I discovered Nigeria and a lot of my friends are here. I discovered Nigeria and I discovered Lagos and I discovered the shrine, an iconic place, a place where the best of music is given”.

Falana, SAN, lawyer and human rights activist, wrote from Lagos

In the sphere of presidential engagement and communication, Nigeria has had different shades of Presidents, from the docile and absent, laidback, garrison-style communication, taciturn, to the pragmatic. Each shade created the mood and tone of the presidency and invariably impacted the quality of leadership the presidency exhibited. Although not ascribing to or recommending any shade of communication and engagement for the presidency, I understand the importance of effective communication and engagement of the President to all citizens and stakeholders of Project Nigeria. 

In a republican democracy, the primary assumption is that the President is, first and foremost, a fellow citizen. Therefore, consistent engagement with citizens, interest groups and special interests is axiomatic. The challenge is that we are yet to accept that ability to engage effectively with our constituents is a critical function of leadership. Our Leaders are used to giving orders only and not listening to the people or explaining why they must make some decisions. The implication is that we have had rulers and not necessarily leaders.

Arguably, the most critical skill needed by a leader is his ability to communicate effectively with citizens, sectoral groups and structured interest groups  to pursue a specific agenda. In a short period, we have witnessed significant changes in presidential engagement. And this is bearing fruit in citizens’ responses.  International media and international community are taking note. On this score, the President is on firm ground and needs to be encouraged. This is where President Tinubu’s early steps of continuous engagement with diverse stakeholders deserve interrogation. 

In the first 21 days of the Bola Ahmed presidency, he has met with at least 50 citizens and 20 stakeholder groups. The citizens  and groups are as diverse as Nigeria’s divergent sectors and sections. Some of these engagements have led to the defusion  of tension, such as with fuel subsidy removal, explaining contentious issues as we had in the foreign exchange unification or giving insight into presidential actions like the student loan bill. The President has engaged with ex-militants and Niger Delta leaders like Asari Dokubo, Timi Alaibe, Former Emir of Kano and first-rate Economist Sanusi L Sanusi, Billionaire Aliko Dangote,  opposition politician Rabiu  Kwankwaso ,ex-presidents Goodluck Jonathan and Abdulsalam Abubakar, G-5 “PDP” Governors, fiery lawyer Femi Falana, labour leaders Joe  Ajaero and Festus Osifo, Sultan of Sokoto, Oni of Ife and other traditional rulers, among several others.

The  engagement with Asari Dokubo may have unsettled some presidency watchers . The argument they have against it is that legitimate state does not engage openly with non state actors who seize the platform to denigrate strategic state institutions like the armed and security forces no matter their deficits. However there is  still value in that engagement . 

President Tinubu’s style is a refreshing and decisive departure from the style and disposition of his immediate predecessor. He has shown  a remarkable ability to listen and consult widely .The account of Khalifa Sanusi Lamido Sanusi that he listens attentively, grasps the core issues communicated to him, tries to make sense of these issues, internalises the significant points raised and responds appropriately is relevant . Yours truly can confirm it as the truth. 

For insight , Nigeria is a democratic country, and the principles of democracy emphasise the inclusion of citizens in decision-making processes. Listening to citizens and stakeholders ensures their voices are heard and considered when formulating policies and making important decisions. Outlining his presidential philosophy during his inauguration speech, the President was emphatic that he would be a servant leader and not a ruler, emphasising the importance of listening to and engaging with the citizens at various times to feel their pulse, understand their views, dreams, and aspirations, and making decisions that will help actualise his vision for Nigeria and reflect the broader interests of the nation.

Second, engaging with citizens and multiple stakeholders fosters transparency and accountability in governance. By listening to the concerns and feedback of the people, the President can address their grievances, respond to their needs, and explain the rationale behind governmental actions. This helps build trust between the government and the citizens and enhances transparency in decision-making processes. We are a country with a rich cultural, ethnic, religious, and socioeconomic diversity. 

Third, by listening to the concerns of different stakeholders, the President identifies potential conflicts early on and works towards peaceful resolutions. The way the President handled the labour negotiation that led to a quick resolution and how he listened and explained the issue of unification of the exchange rates give ample proof of the efficacy of his communication style . Open dialogue and inclusive decision-making can help prevent or mitigate social unrest and promote national unity. These engagements with multiple stakeholders bring diverse expertise, experiences, and knowledge to the table, which can contribute to the formulation of more effective and well-rounded policies. This can lead to better outcomes and solutions for the country’s challenges.

We may wonder why President BAT’s continuous engagement and communication with citizens, stakeholders and other special interests deserve close observation. Let us examine three significant reasons.

Undoubtedly, our multi-party general elections produced a president with just about 36% of the voters voting for him and the rest for the other parties. The president understands there was a need for building consensus quickly in his presidency to bring everybody together and lead Nigeria not as an APC president but as the President of Nigeria. This  constant engagement is even more crucial at this stage because he does not have a cabinet yet, so it falls on him to make the engagements and decisions and communicate them. This level of engagement may reduce a bit when his full cabinet is in full swing.

The second reason is that the President uses the opportunity to familiarise himself with different issues and perspectives. This allows the President to stay attuned to the evolving concerns and priorities of the people. By actively listening to citizens and stakeholders, the President can identify emerging challenges and respond effectively with policies that address current needs. It is an avenue for feedback on government policies and programmes. The President gains diverse insights and expertise by engaging with different stakeholders, including civil society organisations, community leaders, business leaders, and experts. This information helps him make well-informed decisions considering multiple viewpoints and potential impacts.

The next  likely reason for BAT’s engagement is that not only is he a natural engager , as seen in his style of politics and governance, but he also has a keen interest in giving citizens insight into how critical decisions were arrived at. This opportunity to explain these decisions and their likely impacts affords President BAT more reasons to engage and get the citizen’s buy-in into his programmes, especially in preparing the citizens for the road ahead. Regular interaction allows the President to assess the impact of existing initiatives and make necessary adjustments or improvements. This feedback loop ensures that governance remains responsive and accountable to the people it serves.

The last reason may be that the President wants to build trust, make informed decisions, mobilise resources, prevent conflicts, and promote social cohesion. This is an essential component of effective and inclusive governance that is people-oriented and focuses on policies and projects that serve the people’s interests. Hence, the President’s constant desire to listen, decide and communicate effectively. This has made BAT’S policy direction so evident to all.

Some significant milestones have been achieved in just 21 days: Oil subsidy is gone; major labour crisis averted; student loan bill signed into law; exchange rate harmonised; house cleaning is ongoing; new electricity bill signed into law; Data protection bill signed into law; building consensus and unifying Nigeria; and wooing foreign investors. These are early days so no objective assessment of his presidency can be done. 

Building Nigeria is more than just a job for Mr President. All Nigerians must play their part. However, he has shown outstanding leadership in these early days that is worthy of emulation by leaders in the state and local governments. They must adopt the servant leader approach, build consensus, and engage with all stakeholders in their states and LGAs. Developing Nigeria requires growth at the grassroots. 

Failure of the state governors and LGA chairpersons will mock the federal government’s efforts, even with the best policy interventions in place. It is time that governors and LGA chairpersons stop being little emperors, come off their high horses, and serve their people. The difference between good governors and LGA chairpersons and bad ones is seen in the level of development, both infrastructural and human capital development, in these states and LGAs.

There is no doubt that President BAT has hit the ground running as he promised. We commend his leadership and look forward to more achievements from his administration in the days ahead. We also implore other leaders at all levels to embrace stakeholder engagement and communication as practical tools for good leadership. 

The quality of President BAT’s cabinet, we hope, will reflect his deep conviction in quality leadership and the leaders he appoints will continue to build on the momentum he has created in these first few days. Quality leaders create quality leadership, which then creates development. We are full of optimism and hope for what lies ahead for Nigeria. We must all stand together, support his vision, and help build a great nation.  

There is a country called Nigeria. For three decades, its coffers were daily looted in the guise of fuel subsidy. The looters are known by name and some are known faces. The companies they use in looting are registered and have addresses. Rather than bring the criminals to book, government decided to remove the subsidy.

Thus, the people are forced to pay astronomical prices for fuel, while the subsidy looters keep their loot and are free to forage for other things to loot. This is the truth. There is also the lie; that fuel subsidy has now been removed. The truth is that it is impossible to remove fuel subsidy no matter how much the people are visited with high fuel prices.

This is because there are two basic variables over which the people have no control. First, is the continuous and steady devaluation of the Naira; every devaluation of the currency creates a fuel subsidy gap. It is like digging a hole to fill another hole. The craziness in this is that the first hole continues to widen.

The second subsidy-inducing variable is the cost of crude oil at the international market. Since Nigeria is not refining the crude oil it produces, it is condemned to buying refined petroleum products at international market prices. When you add to this, the cost of refining abroad, freight, insurance, taxes and demurrage, the price of a litre would have swelled.

Futurologists say when the Dangote refinery comes on stream, this second variable would be taken care of and prices would come down or crash. I am a person of little faith in economic speculators who since 1981 have told us the same thing, then preach that we should have faith in a bright economic future.

On Dangote, it is about a businessman said to be building the largest refinery in Africa, and our economists and money managers like brother Godwin Emefiele speculating on his motives. Some claim he would earn so much foreign exchange for the country that the Naira will appreciate. In a country famed for inadequate regulation, supposing Dangote decides to charge so-called international prices for his products, or in fact, decides to sell to foreigners to the exclusion of Nigerians, will he be committing a crime?

Aliko Dangote is like a man holding a bird in his hand, and our economists and leaders are speculating on the colour of the bird; some say it is purple, some black, others say it is green, white , green. This is witchcraft economics.

So, President Bola Tinubu needs to be cautious of experts who repackaged the disastrous and ruinous Structural Adjustment Programme, SAP, of the military regime as fresh ideas. He needs thoughtful patriots like Odia Ofeimun who have the welfarist, programmatic and developmental mind of an Obafemi Awolowo.

It is understandable that President Tinubu has to give political jobbers appointments. But it is also necessary for him to have people who can look him in the eye and tell him the truth. Such people can also constantly remind him that he is in office for two basic reasons: the security and welfare of the people. Any other matter is fashion which comes and goes. At the end of his tenure, his government and legacy will be assessed based on how he fared on security and the peoples welfare.

The half a Kobo wisdom I have which I can share with him is that all his programmes should be subjected to those twin tests. Let us take, for instance, his decision to introduce student loans in our tertiary institutions. I like learning from history. So I expect the President to reflect and tell Nigerians why the student loan system was scrapped decades ago while the scholarship and bursary schemes were retained. Secondly, what logic is it in us resurrecting the student loan scheme when the same scheme is collapsing in the United States, Canada and Western European nations with these countries desperately trying to get out?

Some of the basic problems of the student loan scheme is mass unemployment with people being unable to repay. Even where some get jobs, the wages are so low that they are merely surviving.

In the US, the loan debts is now over $1.6 trillion with over 45 million Americans trapped in it. This means that one in three young American adults with some three million above the age of 60, are trapped in the debt peonage. Over one million Americans default with the rate of defaulters this year estimated at 40 per cent.

The debts have become so much a liability that some American youths decided neither to get married nor raise a family until they have been able to repay the loans which can take decades.

The Biden administration this May, decided to give some of the defaulters some breathing space by cancelling $66 billion in student debt. This has snowballed into a crisis as the Senate voted to shoot down the Biden plan and the American President responded by vetoing the legislation.

If the Tinubu administration goes on with its Student Loan Act, our situation is likely to be worse than the Western situation because we have a worse unemployment crisis, lack basic social protection, very poor statistics and have far higher rate of inflation; these are unlikely to change in the next 8-24 years when the loans should be repayable.

While the Americans tend to remain in their country, I foresee Nigerian youths ‘japaing’ (fleeing abroad) just to escape the debt prison.

Also, although government says it does not intend to introduce tuition fees or increase fees in the tertiary institutions as a result of the student loan scheme because the institutions are not financially independent, it means that fees can be increased just by declaring tertiary institutions financially independent.

Education is crucial to the country’s future. So if government says there are not enough funds to sustain the current funding system, it needs to first calculate how much tertiary education costs. Tell us how much is available and the cost gap that exists. Then we can answer the next logical question: how do we fund the difference? For instance, can we save money by scrapping the House of Representatives and transferring the trillions of Naira spent legally and illegally on it? Its functions can be transferred to the trimmer and much more representative Senate.

 Also, can we ensure that the Tertiary Education Fund of 2.5 per cent of company profits are largely collectable and accountable?

The Tinubu administration has no need to use torchlight searching for solutions to the myriad of problems in the country; the broad daylight is enough, it is more a question of choices and priorities.

Ahead of the meeting between the Federal Government and the organised labour scheduled to hold today (Monday), the Nigeria Labour Congress has said the government must meet its demands to cushion the effect of the fuel subsidy removal.

The union threatened that it would not hesitate to call out workers for industrial action, adding that it only suspended its planned strike.

It stated that the high cost of fuel was inflicting unbearable hardship on Nigerians, adding that the government must act fast with respect to providing palliatives, as the NLC said it was expecting an increase in the minimum wage from N30,000 to N150,000.

The Federal Government and labour unions met on June 5, 2023, with a resolution to reconvene on June 19 to agree on the implementation framework of the resolutions reached.

The former Speaker of the House of Representatives and current Chief of Staff to the President, Femi Gbajabiamila, who led the government side, had disclosed this at the end of the meeting between labour and government representatives at the Presidential Villa, Abuja.

According to him, the June 5 meeting agreed on a seven-point resolution to cushion the effect of the subsidy removal on Premium Motor Spirit, popularly called petrol, on Nigerians.

“The Federal Government, the TUC, and the NLC to establish a joint committee to review the proposal for any wage increase or award and establish a framework and timeline for implementation.

“The Federal Government, the TUC and the NLC to review the World Bank Financed Cash transfer scheme and propose the inclusion of low-income earners in the programme.

“The Federal Government, the TUC and the NLC to revive the CNG conversion programme earlier agreed with Labour centres in 2021 and work out detailed implementation and timing,” Gbajabiamila had stated.

But when contacted on Sunday to speak on the expectations of labour from the meeting scheduled to hold today (Monday), the Vice President, NLC, Adewale Adeyanju, said a lot of things had been presented by labour unions, stressing that the government should not act funny.

“There are a lot of things that labour has been putting before the government. The refineries need to be revamped. We cannot continue to import refined petroleum products and be spending on subsidies all the time.

“Labour has its set of demands and by the time we meet with the government tomorrow we will list them out again,” he stated.

Asked to state what action the NLC would take should the government fail to give in to the demands of labour, considering the plight currently faced by Nigerians with respect to the removal of subsidy, Adeyanju replied, “You know we only suspended our strike as a result of the need to meet on this.

“So the government should know that things are becoming difficult and they (the government) should not decide to do anything funny. The strike was only suspended. It was an ultimatum that was given out and it (strike) was suspended.

“So let’s hear what the government has for us and then we will know what to tell our members. It is about the lives of the people. Let’s meet them tomorrow and then labour will come out with its position.”

Adeyanju, however, expressed optimism that the meeting would be fruitful and insisted that the NLC would not want the government to behave funny.

“We hope that the meeting is going to be fruitful. The expectations are very high. The nation is watching and people are looking at how the Nigeria Labour Congress is going to handle the situation.

“And the government too will not like to behave funny because they know the country is battling with the increase in fuel pump price and so many things,” he stated.

On the proposal by oil marketers for the deployment of Compressed Natural Gas at filling stations, the NLC official stated that a technical committee had been set up by the Federal Government to look into the matter.

“The government has set up a technical committee on some of these issues. So I don’t want us to preempt the outcomes that will come out from that meeting tomorrow between labour and the government,” he stated.

Commenting on the need to deploy CNG, the National President of the Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo, stated that oil marketers were looking forward to the outcomes of the meeting between the Federal Government and labour before making their moves.

“That meeting tomorrow (Monday) is very crucial, because marketers are ready to deploy CNG, but the outcome of that meeting will tell us whether the government is ready to give the support needed to make this initiative fruitful.

“We are very confident that with the deployment of CNG as a substitute to PMS, the harsh effect caused by petrol price hike would be addressed significantly,” Okonkwo stated on Sunday.

The NLC also stated on Sunday that it was expecting an increment in minimum wage from N30,000 to between N150,000 and N200,000.

It further urged President Bola Tinubu to ensure that borders were re-opened to ensure smooth importation and exportation of food and farm products.

The National Treasurer, NLC, Hakeem Ambali, made the disclosure in an interview with one of our correspondents in Abuja.