When I clock 90, if I had a choice in the matter, I’ll like to be like General Yakubu Dan-Yumma “Jack” Gowon – in good health, full of cheer and with my better half whispering sweet nothings into my ear as she relishes the distinguished audience consisting of Their Excellences, Highnesses, Lords, Eminences and other movers and shakers of society, temporal and spiritual.

It is not given to many people to be able to cast a happy glance at an illustrious life lived over nine decades and still bask in the adulation of a grateful society. At 90, General Gowon seems to still be in the middle of the Nigerian story despite his best efforts to be anonymous. A man of destiny, he found himself positioned at crucial junctions in Nigeria’s national life. Weighty responsibilities were cast on his shoulders at the age of 33 when his colleagues entrusted the leadership of the country onto him.

Many of us remember General Gowon fondly as that youthful military officer with a genial smile who led Nigeria through three harrowing years of a civil war. His “no victor, no vanquished” speech at the war’s end to promote healing and reconciliation is a classic in social reintegration and wound healing. The Nigerian Civil War may have been listed as one of the deadliest in modern history, but those on the ‘federal side’ insist that Gowon’s leadership saved the country. Had the leadership fallen into different hands, perhaps the story of the war might have been different in terms of sheer brutality and casualty figures. But General Gowon was a humanist in the middle of a human tragedy. He made it clear that his mission was to keep Nigeria united, not to extirpate the people of the Eastern Region. That position brought him in direct collision with some of his feisty war commanders. That story was told by the commanders themselves after the war.

To cap his humanist disposition, Gowon’s post-war programme encompassing the 3Rs – Reconciliation, Rehabilitation and Reconstruction – was a lesson in re-integration and fence mending. He holds the distinction of having served for the longest continuous period as military head of state of Nigeria, ruling for almost nine years.

Since his return to the country after a long sojourn abroad during which he bagged a PhD in Political Science, he has shown himself to be essentially a man of peace. His Yakubu Gowon Foundation has been involved in human development interventions while his “Nigeria Prays” initiative is a non-governmental and interdenominational prayer organisation. The former head of state has stayed away from partisan politics and is therefore generally seen as a father to all.

The other day in Abuja, the General was all smiles as the créme de la créme of society gathered to honour him on his 90th birthday. Ex-President Olusegun Obasanjo who was one of the war commanders during the civil war acknowledged his boss’s humanist posture and revealed that the story of Nigeria might have been more tragic with a less compassionate man at the helm.

Ex-President Goodluck Jonathan said he, too, could only marvel at the wonders of God because he was in primary 5 when General Gowon became head of state. As President when he presided over meetings of the Council of State, (incorporating ex-presidents, heads of state, vice-presidents or their equivalents during military rule, ex-chief justices of the federation, ex-Senate presidents, et al.et al.) he said he usually marvelled whenever he looked at General Gowon. Fate had brought two men of destiny together: A one-time primary 5 pupil was presiding over a meeting where his former military head of state was but an ordinary member!

However, the greatest gift anyone could give General Gowon on his 90th birthday was crafted in prose by Dr. Akinwumi A. Adesina, president of the African Development Bank (AfDB). At the birthday lecture titled: “Building a Global Nigeria”, Dr. Adesina charted the course that could steer Nigeria away from underachievement, underdevelopment and perpetual poverty. Only an intellectual discourse of such gravitas could have done justice to the momentousness of General Gowon’s 90th birthday. Adesina, Nigeria’s former minister of agriculture, now generally acknowledged as Africa’s Optimist-In-Chief, dug deep to unearth the compass Nigeria requires to fulfil its destiny as a global player. There can be no substitute for the full text. Meanwhile here are Excerpts:

Historic Duty

“When the Gulf region was to develop, it took Saudi Arabia to set the pace…. For Africa to develop, it needs Nigeria to develop faster.

Food Security

“To ensure food security, the federal government in conjunction with state governments, should return to the highly successful Growth Enhancement Scheme and the electronic-wallet scheme that was put in place when I was minister of agriculture….

Transforming Ports

“Recently the Financial Times reported that congestion at the port in Lagos has become so bad that it could cost more than $4,000 to truck a container 20 kilometres inland – almost as much as it costs to ship the very same container 12,000 nautical miles from China…

Japa Syndrome

“The rate and speed at which Nigerians are leaving the country – the so-called “Japa” syndrome risks undermining Nigeria’s drive for economic rejuvenation and positioning for global dominance. Nigeria’s best talents including doctors, nurses, lawyers, engineers, architects, computer programmers, artists and cultural entrepreneurs, sports athletes, and even bankers, are voting with their feet and leaving Nigeria in droves due to economic hardships, high unemployment, a corrosive rate of inflation that daily eats away at the value of their assets, insecurity ….

“PwC estimates that the exodus of Nigeria’s talents will lead to a loss of close to $5 billion annually. Yet, this is happening against the backdrop of a rapid global growth in Artificial Intelligence that holds enormous opportunities for shaping and transforming the world economy. In a recent analysis, PwC estimated that Artificial Intelligence will add $116 trillion to the global economy by 2030 and $316 billion annually to the economies of just four African countries – Nigeria, South Africa, Kenya and Ghana by 2030. Nigeria is well poised to take advantage of this opportunity, with the nation being one of the leaders in the fintech industry, and companies such as Flutterwave, Palm Pay, MTN Mobile Money, Piggyest ranking among the top 250 Fintech companies globally. Nigeria also has five of the top seven Unicorn Fintech companies in Africa, including Interswitch, Flutterwave, OPay and Andela, demonstrating the ingenuity and entrepreneurial capacity of Nigerians to lead, innovate and dominate the competitive Fintech industry. That is why the African Development Bank, along with partners, is investing $614 million in the i-DICE programme in Nigeria. This is a bold initiative designed to develop digital and creative enterprises, which will help add $6 billion to Nigeria’s GDP and create 6.4 million jobs….

“…We must become a Global Nigeria, brimming with talent, skills and entrepreneurship capacity that is powered by clear, strong, consistent, and sustainable government policies to become globally competitive, and to retain our young talents, if we are to drive growth and competitiveness globally. A Global Nigeria will turn “Japa” (“we are leaving”) into “Ja Pada” (we are going back)! To get there, I have some good news! I am delighted to announce that three days ago the African Development Bank’s Board of Directors approved $100 million for the establishment of the Youth Entrepreneurship Investment Bank of Nigeria….”

Let’s Go On With One Nigeria. Happy Birthday, General Gowon!

Breaking News: The World Bank has endorsed President Bola Ahmed Tinubu’s economic policy, suggesting that Nigeria must maintain its current reforms for the next 10 to 15 years in order to be able to transform its economy. Dr. Indermit Gill, the chief economist and senior vice-president of the World Bank Group, said and I quote: “If these reforms are sustained, Nigeria will transform its economy and become an engine of growth in sub-Saharan Africa. It is very difficult to implement such reforms, but the rewards are massive.” He was speaking in Abuja at the 30th Nigerian Economic Summit with the theme: “Collaborative Action for Growth, Competitiveness, and Stability.”

Me: Thank you very much, Dr. Gill, but how many Nigerians will still be alive in the long run at this rate? With the massively falling naira, growing foodflation, explosive fuel costs, and shocking electricity tariffs, how many Nigerians will make it to the Promised Land? Nigerians have been experiencing the pains of various economic reforms for decades but it has been eons since they have had to endure this rate of price increases all coming within one year. As they are struggling to process one development, another one comes. They are asking: when will there be a respite? Petrol price alone has jumped from roughly N185/litre to around N1,000. This was previously unthinkable.

When President Olusegun Obasanjo was about to be inaugurated in 1999, Channels TV did a vox-pop of people on the streets, asking them their expectations of the new government. “I want Obasanjo to bring the economy down,” one market woman yelled into the microphone. Don’t laugh. As far as she was concerned, the “economy” means prices of goods and services. You know everything about the macro-economic and micro-economic theories, GDP, M1, M2, M3, balance of payments, capital flows and fiscal consolidation — but the market woman knows something about the price of garri theory. No matter the imperative of reform, therefore, there is a human element that cannot be ignored.

Economic reforms are mostly presented as a technical activity. You want to attract foreign investments? Remove the artificial peg of the naira, lift barriers to free trade and don’t place a lid on capital repatriation. You want more funds for education, healthcare and to build critical infrastructure? Get rid of subsidies. You want more revenue? Increase your tax/GDP ratio — your rates are too low and enforcement too weak. You want to curb inflation? Reduce money supply by raising interest rates. On paper, these policies are no-brainers. There is just one problem: at the receiving end are human beings — and the poorest of them are always disproportionately affected.

Across the country today, Nigerians are groaning over the impact of the reform being embarked upon by Tinubu, who has been nicknamed “T-Pain”. The reform has seen to the total or partial removal of three subsidies: petrol, FX and electricity. The “technical” results are what the World Bank is celebrating: debt service as percentage of revenue is falling, meaning there will be more money to fund the budget; FX reserves are growing, meaning we can now meet our international trading obligations better than before; and federation account is getting fatter partly because of the removal of the implicit FX subsidy. But here is the ultimate test: what is the “is equal to” on the price of garri?

On the upside, the removal of petrol subsidy will end the scam that has been enriching a few. We were to spend about N5.4 trillion on subsidy in 2024, having already doled out N4.2 trillion from January to July. No such claims can be made again and there should, thus, be more money going into the treasury. On the downside, though, petrol price has been rising and making life miserable for Nigerians. It is complicated by the fact that we are not used to buying petrol at a market-determined price, so it is a culture shock. When prices were increased in the past, they usually stayed on the same spot for years no matter the ex-depot cost. This brought some stability to consumer prices.

Until recently, we were importing petrol at N1,200/litre and selling at N600. The Nigerian National Petroleum Company (NNPC) Ltd started owing suppliers and was, in no time, struggling to keep importing. Word went round that Dangote Refinery, being home-based, would soon start selling petrol for N200, but that was not to be. After all, the refinery also has to buy crude at the market price (whether in naira or dollars) — like any other refinery — before it can produce petrol. We have now entered an era where petrol, like diesel, will be priced like any other commodity as it is done in most countries around the world. The new order, unfortunately, means more pains for Nigerians.

Meanwhile, the removal of FX subsidy has brought hardship — in fact, it is the root of the biggest sufferings Nigerians have had to bear, including the hike in fuel prices and electricity tariffs. FX is the baseline for virtually everything in Nigeria, directly and indirectly. The official exchange rate was around N460/$ when Tinubu became president. It is now about N1,600/$. In the parallel market, it was N750/$ and now N1,700. We held on to the artificial/official peg for so long that the gap kept widening. Only those with “long legs” could buy FX at the official rate. The most pronounced consequences were the diversion of FX into parallel market and the backlog of unmet demands.

By allowing the naira to depreciate, Tinubu can claim to have achieved a few things. One, the incentive for arbitrage — buying at official rate and selling in the parallel market — has reduced. Some of our celebrated billionaires were milking the country dry through arbitrage: getting FX from the Central Bank of Nigeria (CBN) at N460/$ via fake transactions and roundtripping to sell at N750/$ in the parallel market. The margin was mad. The margin is thin now, making arbitrage less attractive. Two, Tinubu can also say that our dollar reserves are growing again, partly because FX inflow is now going through official sources. Now we are settling our FX obligations faster, compared to the past.

But the downside is devastating. We import most of the essential things we consume in Nigeria, including fuels, clothing, medication and intermediate goods. Any slight upward adjustment in the exchange rate will cause a ripple effect on general prices. In fact, it was when the exchange rate went gaga that it finally dawned on me that it is far more impactful on the poor than the price of petrol. Actually, the fuel prices are largely dependent on the exchange rate. In turn, the cost of transportation is determined by fuel prices. And the pricing of foodstuff, particularly in the southern part of Nigeria, is largely affected by transportation cost. It is like everything happened to us at once.

Tinubu also partially removed electricity subsidy. According to reports, the subsidy bill was estimated at N2 trillion for 2024. But through the creation of the “Band A” nomenclature and the shifting of most of the subsidy burden there, Tinubu cut the bill by half. The general economic argument is that where there is no subsidy, there is no subsidy scam. Agreed. But the impact has been equally devastating. By the time the tripled tariff landed on businesses and schools (tertiary institutions in particular), it was all tears. In sum, the removal of the three subsidies — despite all the highlighted benefits — has taken the cost of living skywards and eroded the purchasing power of Nigerians.

Where do I stand? To be sure, I am not against reform. The economic hardship is global. Our economy was racing towards the abyss. We were spending most of our revenue on servicing debts, printing money to pay salaries and failing to meet our FX obligations. We were living on borrowed time. We were getting to a stage when our letters of credit would no longer be honoured — meaning we would not be able to import basic stuffs again. It has happened before: in 1983, the Shehu Shagari administration had to set up a task force to import rice. In 1984, we were queueing to buy “essential commodities” as they were not available in the open market because of FX scarcity.

In one word, we did not have many options when Tinubu came on board. In fact, the reform should have started as far back as 2014. We did not want Nigerians to suffer, so we delayed and dilly-dallied. We started borrowing and also rationing FX to paper over the cracks. Some of the measures actually held down consumer prices for a while and I was partially in support because I believe reform has to be paced. But when the problems became overwhelming, we delayed action on many fronts. It is like a man with kidney failure dilly-dallying on dialysis until he now has to do a transplant. Nigeria is now undergoing a transplant because of its failure to do the painful but necessary dialysis for years.

Having said that, however, I still do not have nice words for the Tinubu administration. For one, it is clear that the reform was poorly conceived and harshly implemented. You can devalue the naira, yes, but no country floats its currency recklessly as we did. It was a kamikaze. Above all, the measures to cushion the pains are mostly audio. Ages ago, the Tinubu administration announced a planned suspension of tariffs on food items. Maybe it will start implementation this morning. You can see the unseriousness. No sense of urgency. Yet, the government was eager to award the N15 trillion Lagos-Calabar road contract — of all the problems in Nigeria. Construction started instantly. Priorities.

That, in a nutshell, is why reform is difficult to sell to Nigerians. The people are wondering: are we all in this thing together? There is nothing to show that the message of sacrifice is for all. Leadership is best delivered by example. It is more urgent to buy a presidential jet than to reduce tariffs on food items and medication that will benefit millions of Nigerians. How many people really benefit from all these palliatives? All said, it would be more disastrous to reverse the reform. The task is how to keep it on track and minimise the pains. I have said this again and again: Nigerians are not impossible to lead. They want to see that their leaders really and truly care — not just in words but also in deed.

AND FOUR OTHER THINGS…

KILLING EFCC

There is a big campaign to castrate the EFCC by limiting its powers to only federal officials. Sixteen states are at the Supreme Court seeking a definitive pronouncement on the powers of the EFCC. I am not a lawyer (at least, not yet), but my sense is that the EFCC deals with financial crimes that go through the banking system. Item No. 6 on the exclusive legislative list in the 1999 Constitution places “banks and banking” under federal jurisdiction. Therefore, the best way governors can plunder our resources and escape the EFCC is to avoid passing their loot through the financial system. Alternatively, they can get the lawmakers to delete Item 6 from the exclusive list. Simple.

TANKER TRAGEDY

Over 100 people were burnt to death in an explosion in Majia, Jigawa state, on Tuesday night when a petrol-laden tanker had an accident. Most of the victims were reportedly scooping petrol when the explosion occurred. It happens all the time. The most memorable for me was the 1998 Jesse pipeline disaster in Delta state — over 1,000 were burnt to death. There have been similar incidents in Cross River and Lagos states. We all know the dangers, but when you are so poor, your sense of adventure can be reckless. You are only thinking of the gain of “free petrol” if you succeed in scooping it. We obviously need to take tanker safety seriously and citizen education even more seriously. Horrific.

LAWLESS LIBYA

Ahead of the now-postponed Afcon qualifier in Libya, the Super Eagles of Nigeria were treated shabbily by their petulantly hostile hosts. Their flight was diverted to a distant airport — where they were held hostage without water, food or internet access for 15 hours. However, the Libyans said we meted out a similar treatment to them a few days earlier when they played in Uyo, Akwa Ibom state. In other words, this was their revenge. In football, retaliation is a straight red card. It contradicts their claim that the flight was not diverted deliberately. Nigeria has denied the allegations. Why didn’t the Libyans report the Uyo “maltreatment” to CAF? That would have been far more civil. Self-help.

NO COMMENT

The consultative assembly of the Southeast Electricity Consumers Association (SEECA) says residents in the geo-political zone will go on an “indefinite strike” from November 1 over a plan to move customers to Band A where electricity tariffs are the highest. Before you laugh, they have a point: faulty infrastructure is yet to be fixed and the Enugu Electricity Distribution Company (EEDC) has not complied with an order by the Nigerian Electricity Regulatory Commission (NERC) to refund N11.86 billion to consumers overbilled between January and September 2023. But what will a strike look like if EEDC does not stop supply? Switch off the lights? Resort to using diesel generators? Wonderful.

Last week, the World Bank made three key and coordinated interventions about the economic reforms of the current administration. On Monday, the Bank’s chief economist and senior vice-president for development economics, Dr Indermit Gill, gave a special remark at the annual summit of the Nigerian Economic Summit Group (NESG); on Wednesday, the same Dr Gill had an opinion piece in the highly-regarded Financial Times; and on Thursday, the World Bank Group launched its latest Nigeria Development Update (NDU).

Well-synchronised, the three interventions echoed the same message: that the Tinubu economic reforms are necessary, that the reforms are beginning to yield positive results, but the reforms need to be sustained and supported to deliver the desired gains. The World Bank came across as offering a ringing and an unqualified endorsement of not just the reforms but also of the way they are being executed. Without a doubt, the Tinubu administration would crave and celebrate such a rosy affirmation. But most Nigerians, going through the worst cost-of-living crisis in recent memory, would have none of it.

I listened to the various speakers at the launch of the NDU (and it was a relief that Governor Bala Muhammed of Bauchi State was invited to provide some ground-level, even if somewhat political, reality check). Also, I have read the speech and the Op-Ed by Dr Gill and gone through the NDU report. I think World Bank’s position is more nuanced than it is coming across in the press and on social media.

However, the World Bank cannot be absolved of the charge of underplaying the mistakes in reform implementation, of over-simplifying the expanding opposition to the reforms and of minimising the danger of not acting quickly and concretely to reduce the concentrated pain spreading across the land. It can be argued that some of these things are not for the World Bank to say. But there is always a risk in not applying necessary caveats and in not reading the room well at a time when most citizens are struggling to make ends meet and there seems to be no reasonable timeframe for the stress to moderate.

In the three interventions, the Bank made a compelling case for the removal of petrol and foreign exchange subsidies. In 2022, the Bank stated, Nigeria lost $15 billion or 5% of GDP to explicit and implicit (and regressive) subsidies on petrol and forex and unwittingly imposed a tax on non-oil exports. This created a fiscal mess and dampened economic growth, and the country was just inches away from a cliff.

The two signature reforms of the Tinubu administration, the Bank submitted, have stemmed the bleeding and some vital signs of recovery are becoming noticeable. The positive signs include the following: fiscal deficit shrank from 6.2% of GDP in H1-2023 to 4.4% of GDP in H1-2024; federation revenues increased from 5.5% of GDP in H1-2023 to 8.7% of GDP in H1-2024; gross foreign reserves rose from $32.9 billion at the end of 2023 to $38.5 billion in early October 2024; arbitrage-inducing premium on multiple foreign exchange rates has been eliminated by ‘market determined’ unification of rates and forex turnover has doubled; debt service as a portion of revenue is projected to fall to 60% by end of 2024 compared to 100% in 2022 etc., etc.

All this is well and good, and Nigeria could use such cheery assessment. We will revert shortly on how much value an average Nigerian puts in such macro-level datapoints. Crucially, the Bank acknowledged the disruption and hardship brought by the reforms, especially in terms of higher energy costs and prices of other goods and services, and the implication for driving more Nigerians into poverty.

In the three interventions, the overarching message from the World Bank is that the country should not abandon the reforms. “Nigeria will need to stay the course for at least 10 to 15 years to transform its economy and become an engine of growth in Sub-Saharan Africa,” said Dr Gill at the NESG summit. “This is the lesson from the past 40 years, as well as from the experience of countries as diverse as India, Poland, South Korea and Norway. Nigeria’s reforms from 2003 through 2007 were exactly what was needed—but they were not sustained.”

The Bank came up with a list of things that should be done to deepen the reforms and as part of staying the course. The prescriptions revolve around creating meaningful jobs for Nigerians, with special emphasis on women and youth. The suggestions are in four broad areas: reducing trade barriers; improving infrastructure; improving business environment; and increasing support to households and businesses. 

I welcome the World Bank for being a strong advocate for reforms in Nigeria. I have written a number of times about how some of these institutions and countries are not doing enough to provide adequate support to Nigeria after the country took on board most of the difficult reforms that they routinely recommend. These institutions and countries need to put their money where their mouth is. What Nigeria needs now, more than anything else, is massive forex supply that the smaller and regular inflows from trade and investment can build on and sustain to ensure a fair value for the Naira and to provide relief to Nigerians across the board. We will also return to this shortly.

The World Bank might not have all the money, but it is a good institution to have in your corner. So, it goes a long way if the Bank is expressing so much confidence in and speaking up for ongoing reforms in Nigeria. But I have a few points of departure.

The first is about how you measure success. To be sure, the macro-level data shared by the World Bank is important. They show that difficult reforms can yield results, and that in this instance, the government is getting a better handle of its finances. But the statistics on external reserves, fiscal deficit, forex rate unification etc., means absolutely nothing to those who have had to endure the doubling, tripling and even quintupling of prices of basic items in the last year or so, and who have no idea of how soon this hardship will moderate or end. So, telling them the reform is yielding fruits with some cold data is asking them to deny the evidence of their eyes and the harsh reality of their lived experience. And urging their government to press on, without making adjustments, is likely to come off as insensitive. It should be understandable that the mass of Nigerians struggling to pay for food and medication will not measure success of reforms with some cold data on reserves and revenues.

My second issue is with the assumption that everyone criticising the reforms wants reversal or is a member of the elite that benefited from the old order. It is quite unfortunate that the World Bank will make this claim in its NDU: “With so many constituencies having benefited from the previous approach, especially the elite, there has been intense political pressure to regress to the previous policies, despite their unsustainable cost and the fact that they unfairly benefited mainly a lucky few at the expense of ordinary Nigerians.”

This is a reductionist and an unhelpful view. Reform design and implementation are a human enterprise. They can’t be perfect. Mistakes will be made. Some assumptions will not be met. Adjustments will be necessary in some instances. And truth be told, some fundamental mistakes have been made in implementing the twin reforms, especially in terms of strategic planning, sequencing and approach, provisioning for the vulnerable and picking up speed in making reliefs available to the needy.

I have said this repeatedly: it is possible to do the right thing in the wrong way or in the wrong order. Yes, there are those opposed to the reforms from the beginning and till now. There are also those who are against the reforms for ideological and political reasons. But there are also those who want the reforms to be more thoughtfully designed and better implemented. Lumping everyone together or dismissing those who want improvement to the reforms is not very useful, and not the kind of tendency the World Bank should be encouraging.

My third issue is that most of the options laid out by the Bank and the government will not address the immediate pain points of most Nigerians. Cash transfer is necessary, but how far can N75,000 shared in three tranches go for the poorest households (even when disbursed on time, which is not the case here)? Free or subsidised bags of rice and other grains can be helpful but how many people will such reach and for how long? More than doubling the minimum wage is a great idea, but this applies to largely the few who work in the formal sector or 7.3% of those in our labour force. Meanwhile, the hardship brought by the reform is widespread.  

The proposals about creating jobs, improving infrastructure and trade etc will provide a structural foundation for sustainable growth but they will not provide immediate relief to the growing number of Nigerians whose standard of living is being shredded daily by soaring costs of food and other essential items. With food inflation at 37.77% (Sokoto State is 50.47%), we should all be worried stiff. Meanwhile, suspension of taxes on some food items was announced with fanfare in July but discussion is still ongoing on implementation. That tells you all you need to know about the seriousness the government attaches to some issues.

My last point is about the song and dance being made of the unification of the exchange rate and how that ties to the central challenge of the moment. In his NESG speech, Dr Gill said that when the forex reform started in June 2023, the official exchange rate was N465/$1 while the parallel market rate was N700/$1, a spread of N235 on each dollar. Sixteen months into the forex reform, the rates have unified at around N1600/$1. Is that not an incredible feat? We have achieved unification, but at what cost?

Both the World Bank and the Central Bank of Nigeria (CBN) are crowing about how this major achievement that has eliminated arbitrage, has led to increase in dollar-denominated government revenues, and in investment flows, remittances and external reserves, and made Nigerian exports more competitive. Missing here is a thought for the Nigerians who do not earn dollars, who clearly constitute more than 90% of our population and are impacted in different ways by the massive loss in the value of the national currency.

But by all accounts, Naira has moved from being overvalued to being undervalued. Figure 1.8 in the NDU euphemistically says the real exchange rate has staged a large adjustment. Some REER calculation puts Naira at its lowest real value since 1999. This large adjustment arose from the disorderly devaluation of the Naira through a free float without a guarantee of adequate forex supply. The argument is not about retaining the forex subsidy but about how to devalue based on your context as a country. Also, a free float is not the only way to have a market-determined, competitive exchange rate. 

The World Bank, the CBN and even the Finance Ministry wax poetic about how the current ‘competitive’ value of the Naira should incentivise exports. But we all need to bear in mind that there will always be a time-lag for significant uptick in the quantity and quality of exports. Also, the benefits of increase in the Naira value of exports will not be as widespread as the immediate pains of an undervalued currency in a country that still imports a lot of final and intermediate goods. Clearly, the government is banking more revenue from exchange gains (which is now a major and regular FAAC item). Ordinarily, increased government revenues should translate to improved spending on the priorities of the people, but we know how that goes. Government’s spending priorities in the last 17 months tell us all we need to know.

We cannot normalise dollar at N1600 or afford further undervaluation under the convenient excuse that it is market determined especially when there is a consensus that the currency is undervalued. Ensuring that the Naira finds its fair value should be the priority of the government today because the price of most things, including that of locally refined petrol, is linked to the value of the Naira. Getting Naira to its fair value, and not those tokenistic handouts or those medium-term prescriptions, is what will provide immediate relief across the board.

It is also what will provide the best insurance for the difficult reforms and against social upheaval. Of course, we need to stay the course, as policy reversal has a heavy cost. But we also need to be practical and know that the human capacity to bear pain is not infinite. Reformers must constantly pay attention to the pulse of the operating environment, and make tactical adjustments where necessary. 

Dr. Reuben Abati’s “Remembering Mrs. Remi Oyo”, which I read online on Oct. 1, 2024, brought back a floodgate of memories regarding Mrs. Oluremi Oyo who passed to glory 10 years ago and whose remembrance her family held recently in Lagos. Remi and I were professional colleagues. Her easy-going husband, Mr. Vincent Oyo, had a big office space at the Ikeja Shopping Plaza at the time I, too, came in to occupy my own little corner there. Remi would drop in once in a while and each time we ran into each other on the corridors, we would gist.

I remember those days when she was President Olusegun Obasanjo’s spokesperson and the former president hiked fuel price again and again. Between June 1, 2000 and May 27, 2007, Obasanjo hiked pump price fuel at least seven times, bringing it from the N20 per litre he met on ground to a whopping N75 per litre on May 27, 2007, a few days before he left office! That was his parting gift for Nigerians, a “thank you” for their generosity in making him one military Head of State and two civilian presidents. Maybe it was their punishment for truncating his controversial third term agenda!

Those also were the days when fire-spitting Adams Oshiomhole was the Nigeria Labour Congress president. Oshiomhole led the battle against Obasanjo’s incessant fuel price hike; usually, the strikes were short-lived - like those of the current NLC president, Joe Ajaero. The government’s usual bait was to throw some bones at NLC’s dog in the form of a handful of so-called mass transit buses and other “tiny, tiny concessions”, to quote Britain’s “Iron Lady” Prime Minister Margaret Thatcher. The last authentic leader of the NLC was Ali Chiroma.

On one of such occasions, Remi came to the plaza and our paths crossed. She said, “Bola, all the things our people (the media) are writing about these strikes are not the truth”. "Iro ni Adams n pa", she would add. Adams telling lies and merely deceiving the people? That was difficult to believe in those days. But she then revealed a lot about the shenanigans of Labour - how they led strike actions in the day but hob-nobbed with Obasanjo at night. After such meetings, Obasanjo would gloat: “Adams, omo mi ni!”, meaning, “Adams is my son!” But how mistaken! According to Remi, it took many back-stabbing before Obasanjo learnt a lesson!

Space constraints will not let me print all that Reuben said about Remi. Most times that our paths crossed, I usually saluted Reuben with the title of Mongo Beti’s novel “Remember Ruben”! Enjoy this delectable writer! When we return, we shall, as usual, make some closing remarks:        

“Ten years ago, Mrs. Oyo left this earthly prison house and transited to the great beyond, to tranquil Heaven at the relatively young age of 61. Thomas Camspbell says, and he is right, that ‘to live in the heart of those we love is not to die’. Mrs. Oyo lives on, her memory endures, and her example stands out in terms of her great accomplishments. She was a journalist of the first rank. She did not want to be identified as a female journalist but as a pressman, and, indeed, a pressman she was, out there in the forefront of action, inspiring younger journalists both male and female in the process. In one of those ironies of life that no one can explain, she was born in the month of October. She died also in the same month, less than two weeks to her 62nd birthday... But hers was a life of impact, love and influence.

“She studied Mass Communication at the University of Lagos and obtained a Master’s degree in International Relations from the University of Kent. Journalism was her career and in this she excelled. She started as a reporter with the Nigerian Broadcasting Corporation (NBC) in 1973. The story out there is that she met her husband, Mr. Vincent Oyo, while working in radio and the two Oyos would in later life carve a niche for themselves in both journalism and marketing communications. Mrs. Oyo left the NBC to join the News Agency of Nigeria (NAN) in 1981 and rose to become the Principal Editor of NAN. She later joined the Inter Press Service (IPS) and again rose to become the Nigerian Bureau Chief and, later, the West African Bureau Chief. It was around this time that our paths crossed.

“Auntie, as we fondly called her, had become very active in the Nigerian Guild of Editors (NGE). Under Mr. Biodun Oduwole, NGE president, 1992 – 1994, Mrs. Oyo was a member of the standing committee but she was very influential, known by younger journalists as “Mama awon Boys” because of her generosity. The Oduwole team presided over one of the golden moments of the Guild…Even before his emergence as president, Mr. Oduwole had been friends with some of us who were members of the OSU Collective... In those days, in the early 90s, members of the OSU Collective were prolific on the pages of newspapers, generating debates and contributing to public affairs issues of the day. Three of us: Wale Olaitan, Sina Kawonise and I were close to Mr. Oduwole who took it upon himself to encourage these brilliant young lecturers from Ogun State University, as it then was... Like all young men, we thought we could change the world with our pens and lyrical prose. It was through Egbon, as we called Mr. Oduwole, that we got to know Mrs. Oyo, and she just took to us as her aburos.

“By 1994, I had left Ogun State University to join the Guardian Newspapers as a member of the Editorial Board. I recall that in September that year, I had to travel to Egypt to attend the International Conference on Population and Development (5 -13 September 1994) under the auspices of the National Council on Population and Environmental Activities, an NGO led by Prince Julius Adelusi-Adeluyi... When we arrived in Egypt and I went to the press centre, there was Mrs. Remi Oyo manning the IPS desk. I saw her at work writing stories, casting headlines, conducting interviews. She enjoyed what she did… I casually mentioned to Auntie that I was planning to get married. She promptly asked me what I would need. I told her I brought some money to buy wedding rings. One late afternoon, she left her desk and took me somewhere inside Cairo where she said we would get original gold. When we finished buying the gold rings, she asked me to follow her again to another store. She then asked me to look for any shoe that I felt comfortable with. She paid for the pair of shoes and said ‘that is the shoe I want you to wear on your wedding day; from me to you!’

“I would later visit Auntie at her office at the National Theatre where she had become the head of IPS. In those days, the National Theatre (now Wole Soyinka Centre for Culture and the Arts) was the rendezvous for artists. We went there to watch films, stage plays or simply congregate at a place called Abe Igi to socialize and enjoy an assortment of delicacies. Auntie’s office was just down the road from Abe Igi... It was not difficult to see that although she was head of IPS, she had a great rapport with the people in NAN who shared the same premises. She moved from NAN to IPS, but she had friends on both sides. She was a doyenne of wire service journalism.

“In 1998, Mrs. Oyo showed interest in the Presidency of the Nigerian Guild of Editors... We the boys were, like, “Auntie Must Win!”. In short, all the boys championed her campaign. She eventually emerged as the president and ended up serving for five years (1998 – 2003). She lifted the profile of the office and was very good at getting support for the media from authority figures. She was, for record purposes, the first woman to serve as president of the Nigerian Guild of Editors since 1961 when Alhaji Lateef Jakande was its pioneer president. Mrs. Oyo performed so excellently it can be said of her legacy that she inspired other women within the profession to take a keen interest in the affairs of both the NGE and the Nigerian Union of Journalists (NUJ). In the West, East and the North, women began to occupy key positions in the media unions…

“Mrs. Oyo’s distinction did not go unnoticed. In 2003, she was appointed Senior Special Assistant (Media and Publicity) by President Olusegun Obasanjo. Again, she served meritoriously in that position, earning her the national honours of Officer of the Order of Niger (OON) in 2006. When President Yar’Adua assumed office in 2007, Mrs. Oyo was shortly after named the Managing Director of the News Agency of Nigeria. It was a kind of homecoming for her, returning to her former base and reuniting with old colleagues…

“I recall vividly her advice to me when President Goodluck Ebele Jonathan appointed me as his Special Adviser – Media and Publicity in 2011. She said: “Reuben, my advice to you will be basically three things. Number one, the person you need most on this job is the President, the man who gave you the job. If you have him on your side, you are good. You will survive. This is a very tough job. The politics is heavy. She then went on to tell me about how many people would be interested in the office because of the glamour of being the spokesperson for the president. She mentioned names of persons who would go behind her to President Obasanjo just to malign her…

“No. 2, she said, ‘be very careful with our colleagues; they are the biggest threat to anyone in this office. They will bad-mouth you. They will try to pull you down. They will claim that they know how to do the job better than you. They will envy you and try to undermine you… Just hold on to your principal. Once the president believes you are doing a good job, there is nothing anybody can do to you…  

“She was right on every score! One of the first things I experienced was what became known in the Villa at the time as “The Gap Theory”. It was explained to me by a gentleman called Akachukwu Sullivan Nwakpo as follows: the Villa is a dog-eat-dog space. You have to man your space and guard it jealously. If you are off guard for a minute, someone would see that as an opportunity and try to do your job for you. He advised me to be vigilant and keep out interlopers.

“Media work was actually something everyone thought they could do, including those who could not write a successful paragraph in the English language... Our colleagues in the media, as Mrs. Oyo predicted, were not very kind either. They used to go behind to seek (an) audience with President Jonathan…”

I think we should end it there! Reuben’s sweeping generalisation is not only unkind and uncharitable, it is also not the truth and it irks me. He should simply have said “some” and not tar everyone with the same brush of unprofessional conduct, treachery and back-stabbing. He would also have done well to mention names like he said Remi did in her own characteristic candour! I, for one, never took notice Reuben was in the Villa until he left! Finding his way back into the profession, he called on me for help which, after teasing him, I rendered free of charge, as they say! I, therefore, couldn’t have been one of his “colleagues in the media… who used to go behind to seek (an) audience with President Jonathan..” In this I am also certain that I speak for many of our colleagues who are in the silent majority.

Light perpetual, continually grant Oluremi Oyo, O Lord!

 Former Editor of PUNCH newspapers, Chairman of its Editorial Board and Deputy Editor-in-chief, BOLAWOLE was also the Managing Director/ Editor-in-chief of The WESTERNER newsmagazine. He writes the ON THE LORD'S DAY column in the Sunday TRIBUNE and TREASURES column in NEW TELEGRAPH newspaper on Wednesdays. He is also a public affairs analyst on radio and television.

Programme: CITY TALKS WITH REUBEN ABATI

Time: 12:00pm

Guest: HYGINUS OMEJE
(Asst. Corps Marshal Operations, FRSC)

Topic: JIGAWA FUEL TANKER EXPLOSION AND PUBLIC SAFETY

Date: 19th October, 2024
                         
Join Zoom Meeting
https://zoom.us/j/92877141732?pwd=VEJWb29OL2VVekZUTHRpdWYxK0xxZz09

Meeting ID: 928 7714 1732
Passcode: 600206

The President of the African Development Bank (AfDB), Akinwunmi Adesina, has disclosed that Nigeria has the highest population of people living without electricity globally.

Adeshina made this known during the 90th birthday celebration of former Head of State, General Yakubu Gowon.

He revealed that approximately 86 million Nigerians lack access to electricity, positioning the country as the global leader in this regard.

Adeshina further emphasized that the lack of a reliable power supply is crippling businesses and industries nationwide.

“It has been estimated by the IMF that Nigeria loses about $29 billion annually or 5.6% of its GDP due to lack of reliable power supply. The report also indicates that Nigeria spends $14 billion per year on generators and fuel.  

“The lack of electricity is killing Nigerian industries. Today, no business can survive in Nigeria without generators. Consequently, the abnormal has become normal.  

“Nigeria has gas and crude oil in abundance, yet 86 million people live daily without electricity. Today, Nigeria is the number one country in the world in terms of the total number of people without electricity,” Adesina said. 

Plans to Power the Continent 

Adeshina also said AfDB is investing heavily in the electricity sector of Nigeria, and by extension, Africa as a whole.

He mentioned that the bank is in partnership with the World Bank to reach 300 million in electricity by the end of 2030 through robust funding and investment.

According to him, AfDB has invested over $200 million in grid transmission to help strengthen the national grid against incessant collapse.

“To support the implementation of Nigeria’s power sector recovery program, the bank provides Nigeria with $200 million for the Nigerian electrification project which is designed to fill the country’s electricity access gap. 

“ We have invested $210 million in the Nigeria transmission project to strengthen the grid -power evacuation and regional interconnection.

“The President of the World Bank and I made a decision in April that the two banks will connect 300 million Africans, including Nigeria to electricity by 2030. That’s what is called the Mission 300. The largest such effort in the world,“ he added.  

What you should know 

Nairametrics previously reported that Nigeria as well as other African countries are set to be beneficiaries of a $90 billion electricity fund backed by the from the World Bank and the African Development Bank.

• The fund is part of the plan from the global financial institution to provide electricity to 300 million African population by the year 2023.
• This initiative, part of the Mission 300 program, aims to assess and support projects, helping them secure funding if they meet the program’s criteria.
• Nigeria, an integral part of Mission 300, will also be a major beneficiary of the project through the Nigeria Distributed Access through Renewable Energy Scale-up (DARES project).
• According to the World Bank, the project will benefit over 17.5 million Nigerians, or 20% of the country’s currently unserved population, while replacing over 250,000 polluting and expensive diesel generators.

[Nairametrics]

A drone launched from Lebanon exploded near the private residence of Israeli Prime Minister Benjamin Netanyahu in Caesarea on October 19.

According to reports from Reuters, no casualties were reported as Netanyahu and his wife were not at home during the incident.

The drone attack occurred amid ongoing conflicts in the Middle East, further heightening security concerns in the region.

In addition to the strike on Netanyahu’s residence, two other drones launched from Lebanon were intercepted by Israeli air defenses, triggering warning sirens in the Tel Aviv area.

The third drone successfully struck a building in Caesarea, causing a loud explosion and reported damage, although specific details on the extent of the destruction remain unclear.

Israeli media indicated that the drone had travelled approximately 70 kilometres from Lebanon before hitting the targeted building. Saudi news outlet Al-Hadath reported damage to part of the structure involved in the drone attack.

This incident follows the recent killing of Yahya Sinwar, a key figure in Hamas and the architect of the October 7, 2023, attack on Israel that escalated the ongoing Gaza conflict.

According to the Israeli military, Sinwar was eliminated in an operation in southern Gaza on Wednesday after a year-long pursuit.

Netanyahu stated that Sinwar’s death marked a significant defeat for Hamas, though the conflict is far from over.

[NaijaNews]

If you’re someone who enjoys singing in the shower, you’re not alone! UK-Nigeria-based Afrosoul singer,  Uchechi Emelonye,  shares that she finds lyrical inspiration while showering.

In a popular TV show in Lagos, Emelonye revealed that her hit song “Underwater,” which won the BBC Music Introducing ‘Record of the Year 2022’ award, was inspired during her showers.

She stated, “I get a lot of inspiration when I am under the shower. Lyrics come flooding in my head when I go underwater. I don’t know who else it happens to, but I sing a lot under the shower.”

Currently, Emelonye is promoting her newly released EP, ‘Mixed Emotions’ featuring tracks like “My Time,” “First Time,” “Foolish,” “Over You,” “Dance,” and “Margins.” The EP is released under Emelux Records, a label dedicated to providing a supportive platform for African artists to explore and enhance their talents.

[Leadership]

In this interview, a former military head of state, General Yakubu Gowon (rtd) highlights some of his experiences in office, what transpired before and after the civil war, and restates his belief in a united Nigeria.

You are committed to Nigeria’s unity; how did you take it when the civil war broke out?

I grew up with other Nigerians in a little village called Wusasa. It is Hausa community, but honestly, we knew one another. We either attended church together, or if you were a Muslim, you would go to mosque together, whether you were Hausa, Yoruba, or whatever. The unity of this country is certainly something for me.

I have always said that if there’s no secession, there wouldn’t be a break out and there wouldn’t be a question of civil war because it got to the stage that the situation was getting pretty clear that a part of the country, the South-east wanted to secede.

My duty and profession at that time demanded to make sure that we kept the country together. And that was how it happened.

I had an experience of crisis in some African countries, especially the Congo. I served twice in the Congo and saw the brutality and suffering of the people, but little did I know that a few years later, one was going to face the same problem. We had to do whatever we could to keep the country together.

I can assure you that it was not done out of joy but to make sure that at least we would be able to live together after resolving the problem. That was what we did.

The soldiers were given what we called a list of dos and don’ts like all the Geneva Convention instructions in any international conflict. There were about 12 conditions, such as not permitted to fight against old people, women, children etc. It was only against those who took up arms against you; that’s all. But unfortunately, it happened.

If given another opportunity, what would you have done differently?

I don’t think I would have done anything differently. Every effort was made to make sure that the situation did not degenerate into a breakaway. I had a duty to make sure that the breakup of the country did not happen. We had to fight for two and a half years and made sure that there was no interference from outside. There was no question of allowing any nation or power to get involved in our crisis. If you remember, in the Congo you had United Nations forces made up of Nigerian troops and others from other parts of Africa to deal with the problem. 

At least we were able to deal with that problem and make sure we were able to live again as a people. So, I couldn’t have done it differently.

There are still agitations in the South-east for a Republic of Biafra. Does it mean that the three Rs that were declared after the civil war failed to make any impact? What is your message to the people of that region? 

The Rs stand for reconciliation, rehabilitation and reintegration, and of course, reconstruction.

The instruction I gave to the fighting troops after the war was, ‘having fought your brothers and sisters, I want you to be soldiers of peace. Do whatever you can to help them get back to their homes and places; and give whatever assistance to them.’ 

Despite what happened, a lot of courageous Igbo people that lived in the North went back to Kaduna, Kano, Jos etc and got back their properties, which some of their friends had kept for them. They got them back almost immediately. The troops helped to transport them to various parts of the country.

There was no question of trial. Everyone was given the opportunity to go back if they wished. But I gave a special instruction to soldiers, especially officers because they knew that they should not have gone against the government. That was where a few retirements were made.

I had Mr Ukpabi Asika, a brilliant nationalist as administrator and gave him all the assistance he needed. For example, we gave assistance to get the schools going. There was also the medical side, etc. A lot of things were done so that at least you could start getting the reconciliation and integration so that people would be able to go back to various parts of the country. 

On my message for the people of the South-east, I would say that the civil war has ended and Republic of Biafra is no more because people have accepted to be reintegrated as Nigerians. Do you want me to sort of say they should continue? No. Don’t ask that question. 

At the end of the civil war, the Newsweek magazine described you as the equivalent of Abraham Lincoln of the United States.  What do you say to that?

I remember this question of comparing me with Abraham Lincoln. I remember that during the time, somebody called Mr Martin Dent and gave me a book about the American civil war, but because of what was happening, I had no time to read it until towards the end. 

When I read that book, I said to myself that what was happening in Nigeria was very much like the American civil war. It was so uncanny.

Honestly, if I had read that book before we prosecuted the Nigerian civil war, if anybody had said that I was trying to make myself look like Abraham Lincoln, I would have found it very difficult to say there was no comparison between us.  The only difference was that at the end of it, I was able to continue with the reconciliation and getting the country through. So, sometimes I say to myself that I don’t mind being called the Abraham Lincoln of Nigeria because we had a similar situation and we were able to achieve the same result. 

I remember that one English journalist asked why I thought the war was over —what if the people continued with guerrilla warfare? But thank God there was no guerrilla.  

Let me deviate a little bit. I thank God that when the war ended, I did not capture Chief Chukwuemeka Odumegwu Ojukwu because I would have probably found it very difficult to handle with public opinion that would have encouraged me to deal with him. This is because I knew that I would have done everything to save his life. But would it be the same thing if it was the reverse?

We heard so many versions of what transpired between you and Ojukwu in Aburi, Ghana. We want to hear from the horse’s mouth. What actually happened? Did you agree to a confederation?

Well, Ojukwu used to say, “On Aburi we stand” and I would say, “From Aburi you will fall.”

The story of Aburi is that we had been trying everything to be able to meet in Nigeria to resolve all the unfortunate things that happened – the killings and all the katakata after the January 15 coup. I was to go to Ibadan the following day, but I was informed that I could not go because there was a reception for officers coming into the brigade – officers like me being posted to that brigade and others from the brigade being posted out. There was a reception by the brigade commander for officers like me and others and I had to attend on that Friday night to ensure that I did the correct thing in that unit. So, that evening I went for the reception, and when it ended, I moved to Ikeja to stay for the night. 

Unfortunately, late that night, there was commotion. I was wondering what it was, but nobody told me anything. And I was to take over the battalion the following morning. Then there was movement of troops and vehicles in the unit. After some time, it died down. But after another two to three hours, there was greater movement and commotion and I was wondering what was happening. There was a beagle calling all the troops to a master parade. I was wondering and looking through the window to see what was happening.  Luckily, I saw one of the officers, the adjutant of the unit, Captain Martin Ademo, now late. He later became a General. I saw him passing by the duplex, a temporary quarter that I was to stay since the commanding officer’s residence was not ready yet for occupation.

I asked what was happening but he wouldn’t say anything, so I decided to go down and find out. When I met him and asked what the commotion was about, he said General Aguiyi Ironsi, who was the General Officer Commanding (GOC), came and told them that there was some crisis in town affecting the prime minister, Tafawa Balewa and Okotie Eboh, the finance minister and he had come to seek some assistance to see if he could deal with the problem. My first reaction was: Why Ironsi? Why not the brigadier because the chain of command should have come through him? Ironsi should have told the brigadier, who would have related to the battalion commander. 

However, I asked where he was and he said he was at the master parade area. So I had to change into civil clothes to see what was happening. When we got there, he briefed me, saying that he wanted some units to be prepared so that they could go and deal with the situation. When he finished, he asked if there were questions. 

I did not know that by that time, all the senior officers from my school —Maimalari, Kur Mohammed, Abo Baladinma, Yakubu Pam – had been killed. One of my good friends, Arthur Unegbe, from Ozobulu was also killed and I didn’t know.

I went and I got the Quarter Master to get me some military uniforms, boots, hat etc and I went into town. Luckily enough, we were able to deal with the coup in Lagos. But in Kaduna, they succeeded in killing the premier, his wife and other officials. They were certainly in command, but at least in Lagos, which was the headquarters, we were in charge. I was able to get all the other units to make sure that at least they did not go along with what had just happened. That was how I got involved. I tried to get things under control.

However, it got to a stage when the leadership could not do anything to put things right. But we tried to see if we could meet within the country. 

Of course, Ojukwu said that with what happened, he could not be sure of his safety. He asked if we could also go to the East or Mid-west, which was supposed to be neutral, for a meeting since the whole thing seemed to be North versus East.

We got one of the British Airways aircraft for us to meet in the air or on one of the British naval ships. Every effort was made, both by Nigerians and the British for us to meet, but in the end, we had to agree to meet in Aburi. That was where it all started.

I think we went there early January. And as far as I am concerned, we were going for that meeting so that we could agree as military officers.

When I went, I did not take my secretary to the government and officials like advisers. But of course, Ojukwu had a different intention, so he came with all his advisers and prepared a memorandum, which he wanted to be the solution to the problem, as if we were to do an agreement in a class. I said no. 

I joked with him and said he came with a pink solution paper. At our training in senior courses, students wrote on a white paper, but the staff had another green paper or something, and the solution paper was usually pink. 

It was from his paper that he was reading all the conditions, things he wanted done. We discussed them. We had two days there. The agreement was that when we got back, I would be the one to make a statement on the areas we agreed on.

Unfortunately, I was down with a very serious fever; and honestly, I could not do anything. As soon as Ojukwu got back, he made a statement on what was agreed. I had not seen the document he was using. He made a statement that we had agreed to part or something like that. And early in the morning, David Ejoor called to tell me what Ojukwu had done (I was still on a sickbed).

I asked if that was what we agreed and he said no. That was how the confusion started. Of course, when I got better, we disagreed because that was not the agreement. We were going to discuss most of these things in Nigeria; however, that did not happen. So we had to ensure that something was done. 

Ojukwu then started doing all sorts of things, disobeying federal government’s instructions, taking over government’s revenue, all the rolling stock from Port Harcourt and hijacking the Nigerian Airways’ aircraft etc.

A lot of things were happening. Security-wise, people were disappearing etc and the fault was put on northern soldiers. The information was that there were some elements among the recruitment made at that time. There were some bad eggs using the opportunity of being in the military to settle scores. 

Ojukwu said his Constituent Assembly said he could break away to form Biafra.

From some of the intelligence I was receiving, it was just a step to the next thing. That was when I created a state of emergency and 12 states to make sure that no region in Nigeria was marginalised because there was the fear of the monolithic North. And the minority group in the East, Biriye, Briggs and others did not want to go along with the agreement given to Ojukwu. They personally came to me several times. I created 12 states to make sure that no place is too big or too strong to threaten the unity of the country.

Lagos State was made up of Lagos central, Epe, Ikeja and Badagry, that was for the old colony of Lagos to become a state of its own. That was probably one of the reasons that after the civil war, the security situation made us to think of establishing a new capital in Abuja so that at least the federal government and a state would not stay in one place. We knew that Lagos was going to remain the commercial capital of the country, as well as the engineer of national activities.

Shagari was my commissioner for finance, and one of the instructions I left for him was that when they were doing the budget, he should make sure that he had some money kept for planning and building the infrastructure of the future capital of Nigeria in Abuja.

Not that I didn’t want to return the country to democracy, but when I was about to do it, politicians had started going at each other. You can remember the popular statement, “If you Tarka me, I Dabo you, if you Dabo me, I Tarka you”.

Honestly, I did not want a sort of situation reflective of what happened before the first coup. 

I don’t know what version you heard, but in the end, we had to meet in Benin, me and all the governors at the time to discuss the Aburi agreement and put it in the true context. We invited Ojukwu to be there but he did not come. The only thing I included, which probably made him not to accept it, was that there was no chance for any part of the country to secede without the agreement of two-third of the members of the group.  But as soon as we left, Ejoor told me that Ojukwu came to find out what it was.

You presided over Nigeria when the economy of the country was very good. Would you say you used the money judiciously? How do you reconcile the story that you left penniless when your government was overthrown?

I left penniless? But Mr Goodheart, the British parliamentarian, said that when I was leaving Nigeria, I took half of the Central Bank of Nigeria.

Yes, we had a lot of money. During the civil war, we made sure that we did not destroy any of the facilities. We did whatever we could not to damage our oil infrastructure. So, soon after the civil war, they were able to come back and we were able to have a reasonable amount of money. And I can tell you in all honesty that there was discipline in my government. I can tell you that any fund I ever held as head of state was roughly 83,000pounds. That was before we changed to the naira for security reasons. I was forced to do it for the sake of Nigeria.

All we did was in the public interest. I know I was accused of helping certain countries like Grenada, Barbados, but we did the same thing in West Africa too. We helped as much as we could, even at home.

I can say with absolute authority that I may not have anything today, but honestly, at least I have a clear conscience. I thank Idi Amin and Eyadema for the help they gave me to have money to start off with. 

You had hints that you were going to be overthrown but you didn’t do anything about it; why?

Who said I didn’t do anything about it? When I was told by the security details that something like that was going to happen, the only two names I was given were people who were supposed to be very close to me – my commander, brigade of guards, Joe Garba and Tony Ochefu. Both of them were from my state, Benue-Plateau. Of course I had to be suspicious of those two names. They were from my state and also Christians, so I could not absolutely believe it. I tried to get Ochefu but could not despite every effort I made. And Joe Garba swore by heaven and earth.

These were people who had helped me to ensure that the country was one; those I trusted. I had to go to Kampala for a meeting. I was the one who made sure that the meeting of the Organisation of African Unity (OAU) was attended by most of the countries so that we could deal with the problem of Africa. As chairman of the OAU, I encouraged most leaders to come so that we could discuss the remaining colonial problem in Africa. We tried to do that and people attended. 

I was discussing with the governor that accompanied me to Kampala, the commissioner of police, Farouk Usman, that if the coup happened, as far as I was concerned, it would not create any problem. As far as I was concerned, we would see what happened. My hope was that if God preserved us and we were able to make the 10th year, I would have probably done something about coups and countercoups in Nigeria. That was my prayer. 

Usually, I never attended any meeting late, but Mobutu wanted to see me. I am sure he must have heard about the coup already. I got to the conference late, and as I entered, Idi Amin, who was was the chairman, called me. Mr Mbo, a Cameroonian, the head of the education sector, United Nations education, was giving his speech.

When I went to Idi Amin, he showed me a Reuters slip and I saw the news that my government was overthrown. I said I hadn’t heard anything. My high commission had not contacted me to tell me anything, so probably that might be a rumour.  Soon after, when that was being done, I was whispering to Farouk that the issue we were discussing on the flight to Kampala and what we were afraid of had happened, but he didn’t quite get it. I didn’t seem to be worried at all, but you could see the worry in Farouk’s face. 

That event almost killed the OAU meeting because others started going back. So, I left the meeting place and went to my hotel, and later on to exercise and play some tennis. Honestly, my interest was that Nigeria should continue. 

The following day, I had to give a world press conference. I remembered that during my school days at Barewa College in Zaria, we read Shakespeare, who said, “The world is a stage and all the men and women are merely players. They have their exits and their entrances, and one man in his time plays many parts.”

I didn’t go beyond that because if I did, some of you press people would say he wanted to come back. When I got to that,I said, “Ladies and gentlemen of the press, this is my exit and all I want you to do is to give Nigeria the support you gave me in order that the country will progress. That was that.

I went to the United Kingdom to become a student, which they didn’t like because I was taking my tray to get my breakfast.

When I came back and we were going through all the crises, since I could not physically do anything, we formed an organisation called Nigeria Prays, to pray for peace, stability and well-being of Nigeria. Every Nigerian means something to me, so I thought we needed to pray to God to help us. 

What is happening in Nigeria today would make you feel sad, but let us not give up in praying and making sure we believe in God. 

If you remember, we had a development plan. We started the iron and steel company in Ajaokuta, the petrochemicals in Enugu and the LNG. I was to sign the memorandum of understanding for the LNG to start building four times the size of what was there. We had lots of development – things like Peugeot in Kaduna, and Volkswagen was supposed to be in Lagos, then of course, Steyr in Bauchi, Leylands in Ibadan; and I think Volkswagen in Enugu.

Looking at the situation in Nigeria, what is your advice to the current administration? 

Every government that comes has a responsibility to make the country good for every citizen and every part of the country.

Another international break is over.

Fans are beginning to dread the two-week lull in club football. Apart from the boring fixtures, there is the risk of injuries.

In the case of Nigerian supporters, they watched in horror, as the Super Eagles were held hostage in Libya.

The Group D second leg clash was called off by the Confederation of African Football, CAF, after Libyan authorities diverted the Eagles’ flight to a remote airport. For over 18 hours, they were denied food, water and Internet access.

All this amid the talk of the effects of the increasingly hectic schedule for footballers.

“I think the thing that makes every international break feel like too much is what has come before and will come after,” Clinton McDubus, a top football analyst and podcaster, tells DAILY POST.

“Right from the November/December World Cup in 2022, the fixture line-up has gotten crazier.

“With an expanded FIFA Club World Cup next year and an expanded FIFA World Cup in 2026 – following all the national team tournaments in different confederations this year – it just feels like too much on the players.

“With the Nations League making these breaks, which used to be merely for friendlies, more competitive, the toll on players is more.

“Teams have to play their best legs and the games themselves require more effort from players, since they are competitive games against teams of comparative strength, with consequences linked to tournament qualifications.”

Interestingly, this is not the last international break of 2024.

The third one for the new season will be between November 11 and 19 – less than a month away.

McDubus adds: “I think it’s going to keep taking a toll on players.

“All the travelling and the games are more competitive.

“Ultimately, it might lead to more injuries, a more underwhelming end to the season and forgettable summer tournaments.

“The biggest concern, though, is injuries. We can see them happening every week now. It’s going to get worse by next month’s international break.”

A few players have come out to threaten going on strike.

But McDubus feels that will not be as straightforward as it sounds.

He said: “Considering they have contracts at least at club level, I don’t see how it’s possible, legally.

“But we will see if there’s a loophole that allows them to take collective action. I think it’s unlikely.

“At best, we’ll see more pressure from them through FIFPro, possibly an individual or entirety taking FIFA to court over it.”

There has however been talk of a possible reluctance of clubs to release African players, especially, after the Super Eagles ordeal in Libya.

McDubus noted that “Per FIFA rules, they cannot hold a player back from call-ups.

“The only thing they can do is to pressure players to not honour certain call-ups, which might even affect their relationship with said players.”

[DailyPost]