
OTHERS' VIEWS

Our endless search for solutions to our self-inflicted problems has become comical. We appear to be in a merry-go-around, trying one idea after the other. Restructuring. State Police. Fiscal Federalism. More States. Float the Naira. Managed Float. Privatization. Structural Adjustment. Sovereign National Conference. Military or civilian government. Commodity Boards. Price Control. Close Borders. Open Borders. Just about everything has been suggested as a panacea for our problems. Last week, a group of lawmakers in Abuja proposed a constitutional change to return the country to parliamentary system of democracy, over half a century after we dumped it. They claimed that the presidential system is too expensive. It is really not a novel idea. Elder statesmen like Obong (Arc) Victor Attah and Chief Emeka Anyaoku are some of the notable proponents of a return to the parliamentary system. In addition, they want the states dissolved and the country restructured into regions as we had in the First Republic. They prefer six regions to align with the current geopolitical zones.
Those who canvass this position are mostly senior citizens who are essentially nostalgic about their good old days. I don’t blame them. Most of them were in the university in Europe and America during that ‘golden’ era when the economy was doing well; civil servants were well-educated, well-trained and employed strictly on merit; corruption was very low and politicians were more dedicated to nation building. But did things go well in those days because of the system of government we operated or was it due to the quality of manpower and the patriotism of the leaders at the time? Does the system of government build the country, or is it the people who build their country and design a workable system for themselves? This is the crux of the matter.
Countries choose different systems to suit their histories and peculiarities. European countries have either presidential or parliamentary systems; the US is a presidential democracy while Asian countries have adopted either. Saudi Arabia is both a theocracy and monarchy, and it’s a prosperous country. North Korea operates a draconian family dictatorship while South Korea has a competitive presidential system. China, the second largest economy in the world, is a civilian dictatorship, just like Russia.
All these countries are at different stages of development and their citizens enjoy varying standards of living. But look at Africa. Most of the continent has one form of democracy or the other, just like in the other six continents. While places like Uganda have a civilian dictatorship masquerading as a democracy, Nigeria, Kenya, Ghana and South Africa have become relatively stable and competitive presidential democracies. A few others have parliamentary systems. But overall, Africa has remained a blithering basket case, with all indices pointing south. Why?
There are many reasons why Nigeria has remained economically stunted or retrogressive over the years, and they can be encapsulated into three categories: corruption, incompetence and decadence. No country can develop or has ever developed with the level of corrupt, incompetent and decadent leadership that has bestrode our nation, at all levels. No matter the system of government we adopt; this nation will not make progress unless the quality of human resources that manages our public affairs improves drastically. Our progress as a nation is not dependent on a particular system of government, but rather on the quality of our political, bureaucratic and technocratic leadership at every important level.
The reason the regional governments of the First Republic seemed to have performed well is because they were led by first-class, patriotic and competent leaders who worked with equally skilled bureaucrats. Can you compare any of our leaders today to Chief Obafemi Awolowo, Sir Ahmadu Bello, Dr. Michael Okpara, Sir Denise Osadebey and the others who led the charge in that era? It is the people who build their nations and create systems that suit their peculiarities. Not the other way round.
But is the presidential system more expensive to run? Of course, any system could be very expensive, depending on how you operate it. If a parliamentary system, for instance, has a bicameral legislature with about 600 overpaid ministers, including a prime minister, deputy prime minister and all the special advisers, senior special assistants, special assistants and personal assistants, first lady and second lady, why wouldn’t it be expensive? Similarly, if a presidential system has unicameral legislature with few part-time members and an executive branch with few ministers, the running costs would be lower. It is therefore important to cut the cost of the governance, rather than change from one system to another. We should stick with the presidential system, but reduce its costs by adopting drastic measures. We can use one chamber of the National Assembly with 10 part-time members from each state; only 37 ministers (only one from each state and FCT) and reduce agencies and parastatals to no more than 200.
The solutions to our problems are right before us. There’s no need moving around in circles.
[OPINION] The Solution To Long-Run Inflation And Economic Hardship In Nigeria - Adémólá Òrúnbon
Admin
The twin economic problems of inflation and exchange rate deterioration have become persistent in Nigeria. They have become monsters that have defied various policy solutions. Without putting these two rates under control, the desire for economic growth would continue to be elusive. Our focus here is on inflation.
To proffer solutions to a problem, it is a standard requirement that the nature or background to the problem be understood. To enable us achieve this, we will attempt to provide some economics behind this persistent rise in prices. This should hopefully provide the perspective for our suggested solutions.
It is our opinion that the solution the policy makers are currently relying on and widely publicising (i.e policy rate adjustments) to fight current inflation is rather complicating the situation and making the inflationary problem more persistent. The approach probably stems from the wrong diagnosis that the problem has been subjected. In fact, the use of policy rate increases is rather leading to an increase in deposit and lending rates without the compensating desired reduction in the inflation rate. A number of reasons are responsible for this from both theoretical and empirical perceptions.
The current structure of the Nigerian economy, the stage of the development of its financial sector and the liquidity preference behaviour of economic agents in the country, do not even fulfil the necessary conditions for the use of the orthodox policy tools such as policy rate adjustment as a tool to successfully and fully combat an upward inflationary trend.
The current inflation in Nigeria is more of ‘supply driven’ inflation than a ‘demand driven’ one. Policy rate adjustments as a tool becomes ineffective when an inflationary trend is dominantly supply driven. We tend to often argue that our inflation is caused by excess money supply in the system chasing too few goods. However, our core problem is that it is the aggregate supply level that is significantly fallen short of aggregate demand, in an economy that is operating at below full employment.
To simplify our exposition, we will use the familiar National Income (GDP) equation which is generally taught in the 2nd year intermediate macroeconomics class in all our universities. We would denote aggregate output (GDP) with Y and its components as: Consumption (C), Investment (I), Government expenditure (G), Export (X) and Import (M) and Net Export as X-M and write the simple GDP equation as Y = C + I + G + (X – M).
Theoretically, Consumption is a function of Income and interest rate. Consumption, is expected to be positively related to income and negatively related to interest rate. However, it is an established fact that Consumption in Nigeria is more, if not wholly, a function of Income. The current low level of consumer credit in Nigeria weakens the relationship between aggregate consumption expenditure level and interest rate. Plethora of empirical studies have proved this assertion.
In largely credit-driven societies e.g the developed countries, consumption has a very high negative relationship with interest rate. Hence, whenever there is a disequilibrium resulting in rising prices, you can bring down the rise in aggregate consumption by increasing the interest rate. By implication, aggregate demand is reduced to bring the economy back to equilibrium. It works for them as well because their economy is almost always near full employment and ‘domestic’ capacity for production of consumption goods is high.
Investment expenditure (I) in the equation is defined as additions to capital stock or demand for investment goods, that is, demand for those goods that are used for further production. Theoretically, the demand for investment goods (I) is both a function of income and interest rate as well. It is positively related to income and has an inverse relationship with interest rate. Just as it applies to Consumption, by increasing interest rate upwards, growth in investment demand, that is demand for capital goods, can be reduced.
In essence, for an inflationary trend which is demand driven and an economy with adequate domestic production capacity, the relationships between interest rate and consumption on the one hand and investment on the other, is the logical reasoning behind the prescription of the use of policy rate increases to bring aggregate demand down. Since these relationships and condition do not fully hold in Nigeria particularly for consumption, it provides the justification for the below optimal results we get when we frontally adopt this orthodox prescription to fight inflation.
With a very high unemployment level and consistent news of manufacturing companies either closing down or exiting the country, it means that domestic production capacity is on a downward spiral. It is safe to conclude that the economy is clearly operating significantly at below full employment level. To combat rising inflation in such a situation, increasing the interest rate is not the right and frontal choice as a policy tool. What such an approach ends up doing is to increase lending rate of banks, that is, borrowing rates to firms. It will also increase the internal hurdle rate for investment decision by firms, reduce Investment expenditure as defined in the National Income equation and bring aggregate supply further downwards.
Similarly, owing to the nature of the relationship between consumption and interest rate in Nigeria as aforementioned, consumption expenditure level would largely remain sticky with an increase in policy rate. To satisfy domestic consumption demand owing to low domestic production capacity, imports of foreign goods will fill the gap. Our unaltered and high consumption expenditure level, is of course the source of pressure on the exchange rate. To complete the cycle, the worsening exchange rate filters back into the price level and inflation gets perpetuated.
By inference therefore, if we are going to make headway in our economic management in general and inflation in particular, it is essential to first accept the fact that, our persistent increase in prices is a supply driven problem rather than a demand driven one and that the frontal solution we are implementing is counterproductive.
Òrúnbon, a journalist, poet and public affairs analyst.
Think of that man whose blue skies are crimsoned by the ravages of cancer. He cannot afford to travel abroad to get the needed treatment and his access to life-saving medical care at home hangs by a hair’s breadth. Many of us might have had a vicarious experience with this cell-corrupting proxy of death. We either know a friend, a friend’s friend, or a relative that has been afflicted. We could as well have been victims. But access to efficient and effective diagnosis, management, treatment of cancer, and other non-communicable diseases, as well as communicable diseases is about to improve tremendously.
In full apprehension of the economics of health and the fierce urgency of now, President Bola Tinubu directed the immediate upgrade of key health infrastructure and equipment across the six geo-political zones. Only a few months ago, a strategic blueprint, the Health Sector Renewal Investment Initiative, was launched. This health exemplar espouses a sector-wide motif geared towards improving population health outcomes through the primary healthcare system, and enhancing reproductive, maternal, and child health services in the country.
According to the World Health Organisation’s Country Disease Outlook for 2023, non-communicable diseases like cancer, cardiovascular disease, diabetes, and chronic respiratory disease were estimated to have caused 27 percent of deaths in Nigeria in 2019. The reality is, the country has a high burden of both communicable -- malaria, tuberculosis, HIV/AIDS, etc -- and non-communicable diseases. And child mortality rates are still well above SDG targets.
It is in the light of these pre-existing and immanent health perturbations that President Tinubu’s valiant directive is situated. To this end, the Federal Ministry of Health and Social Welfare in partnership with the Nigeria Sovereign Investment Authority (NSIA) will undertake an overhaul of cancer-treatment infrastructure and other critical accoutrements in six tertiary hospitals across the geopolitical zones, as well as expand prior investments to improve broad-based access to high-quality healthcare.
These tertiary hospitals -- (1) University of Benin Teaching Hospital, (2) Ahmadu Bello University Teaching Hospital, (3) University of Nigeria (Nsukka) Teaching Hospital, (4) Federal Teaching Hospital, Katsina, (5) University of Jos Teaching Hospital, and (6) Lagos University Teaching Hospital – will be sanctuaries for oncology and nuclear medicine to ease access to deluxe cancer diagnosis and care across the country.
Also, 10 hospitals bestrewing the six geopolitical zones will be revamped to provide exigent and top-tier healthcare services in the line of radiology, clinical pathology, medical and radiation oncology, and cardiac catheterization.
The hospitals: (1) North-West: Reference Hospital, Kaduna — (Radiology, clinical pathology, medical and radiation oncology); (2) South-East: Medical Diagnostic Centre Complex, Enugu — (Radiology, clinical pathology, medical & radiation oncology); (3) North-West: Usman Danfodiyo University Teaching Hospital, Sokoto — (Diagnostic and intervention radiology, clinical pathology, and cardiac catheterization); (4) South-West: University College Hospital, Ibadan — (Diagnostic and intervention radiology, clinical pathology, and cardiac catheterization); (5) South-South: University of Uyo Teaching Hospital — (Radiology and clinical pathology); (6) North-East: Abubakar Tafawa Balewa University Teaching Hospital, Bauchi — (Radiology and clinical pathology); (7) South-South: Federal Medical Centre, Asaba — (Radiology and clinical pathology); (8) North-Central: Harmony Advanced Diagnostic Centre Complex, Ilorin — (Radiology and clinical pathology); (9) North-Central: Jos University Teaching Hospital — (Radiology and clinical pathology), and (10) North-East: Federal Medical Centre, Nguru — (Radiology and clinical pathology).
These projects when completed, within 12-18 months, will among other benefits, improve screening and diagnostics for communicable and non-communicable diseases; reduce mortality rates, as well as improve outcomes for non-communicable diseases.
It takes a healthy population to build a thriving economy. A diseased or decaying population cannot be very productive. Healthcare is an intrinsic element of human capital development, which is the nucleus of the overall wellbeing and advancement of society.
The Tinubu administration has put healthcare on the foreground of its policy ideation, iteration, and implementation, with an understanding of the fundamentality of this variable in domestic economics.
At the 37th Ordinary Session of the Assembly of Heads of State and Government of the African Union, President Bola Tinubu was appointed as the African Union (AU) Champion for Human Resources for Health and Community Health Delivery Partnership in honour of his bold and groundbreaking interventions in the sector.
The administration is training 120,000 frontline health workers over the next 16 months; it is doubling the number of primary healthcare facilities in communities across the federation from 8,800 to 17,000 over the next three years; it is increasing health personnel enrolment capacity of accredited nursing and midwifery institutions by two-fold to accommodate the new demand created by new facilities across Nigeria, and it is establishing a paid volunteer youth force of social accountability officers to monitor the functioning and financial integrity of primary healthcare centres.
This is clearly innovative, purposed, and audacious.
As the President said: ‘’Health is not merely the absence of disease but the embodiment of physical, mental, and social well-being. It is a fundamental human right and Nigeria’s commitment to achieving Universal Health Care Coverage is reflected in the unwavering dedication of my administration to uphold this right for every individual, young or old, in rural or urban areas.”
Fredrick Nwabufo is Senior Special Assistant to the President on Public Engagement
On January 24, 2024, Nigeria lost a patriotic citizen. It lost Mr Olaleye Franklin Adenibuyan. He died in circumstances that, at once, confounds, breaks the heart, and puts a big question mark on Nigeria’s healthcare system. To not a few people, Mr Adenibuyan’s death was avoidable if only the hospital where he died lived upto its assumed status of a Teaching Hospital.
Let me make a confession upfront so you don’t accuse me of being deliberately emotional.
Mr Adenibuyan was my cousin-in-law. A fine gentleman, he was married to my cousin, Thelma. And we admired and loved both of them “die”, as young people would put it. Theirs was a relationship built on solid foundation; a partnership rooted in time. They loved wearing uniforms, and pranced around like teenagers who just fell in love.
Mr Adenibuyan had served his country, Nigeria, as a Police Officer before he relocated to the United States of America, USA, in 1989. But that relocation never stopped him from visiting his beloved country, his beloved Ondo State, and his more beloved Community, Owo, two times every year. For him, it was a ritual. His love for Nigeria was that strong. And each time he visited, he bought more local fabrics for uniforms for him and his beloved wife Thelma. In their local fabrics, they promoted Nigeria’s culture, Nigeria’s fashion.
So, this year, 2024, as usual he set out from his Dallas, Texas, USA base for Nigeria and arrived Lagos on January 14, 2024. Each time he and his wife came home, either together, or separately, they usually checked into a Hotel at Ajao Estate. The Estate is close to the Lagos Airport. For the Adenibuyans, it was convenient as it saves them from the, atimes, punishing Lagos traffic (we call it go slow) to the Airport for a flight to Akure, Ondo State, en route Owo.
So, on this January 14, Mr Adenibuyan arrived Lagos and checked into the usual hotel. A luggage did not arrive from the US and so, he needed to buy something from a shop opposite the Hotel. That done, as he climbed up the staircase back to his room, the devil stepped in. Tragedy struck. He missed a step. And fell backwards.
As he fell, the family was told, he hit his head on the floor or wherever. The impact was grave. He lost consciousness. And was quickly rushed to a nearby hospital. I cannot confirm what attention he got there. Obviously, his state was beyond what a small private hospital could handle. So he was quickly referred to the University of Lagos Teaching Hospital, LUTH.
Established in 1961, LUTH is a Tertiary Hospital affiliated to the University of Lagos College of Medicine. It is a 761 bed Hospital established to be a Centre of Medical Excellence. To its credit are some of Nigeria’s best brains in Medicine. Many of its products are those “making waves” worldwide. They were trained there. It used to be Nigeria’s pride. As were the University College Hospital, UCH, affiliated to the University of Ibadan, and the Obafemi Awolowo University Teaching Hospital, OAUTH, affiliated to the Obafemi Awolowo University, former University of Ife. And some more.
I don’t know about others, but LUTH has lost its status as a Centre of Medical Excellence. It is now a shadow of itself. A shame to Nigeria. It has deteriorated. With Mr Adenibuyan admitted there, we experienced, first hand, the shadow LUTH has become. And our hearts broke.
The injury Mr Adenibuyan sustained to the head needed URGENT attention. It was a medical emergency. So, obviously, he was admitted to the Intensive Care Unit, ICU – private wing, no less. Meaning the attention was expected to be top-notch. When one pays millions of Naira, even as Naira has lost its value, the least one would expect would be a first class attention. But not here. There was nothing special. Patients were kept in what I choose to call “an open mini ward”. No privacy. No screen. When the question of some privacy was raised, the answer was: “it is because there is no general monitor.”
Once Thelma heard of her husband’s situation, she began to make arrangements to come home. She works in one of the biggest and best Government-owned hospitals in Texas where she has risen to the position of a Director. So, once she was briefed of the prognosis, she knew she had to rush back to Nigeria. Her mission was to take her husband back with her to the USA once he was stable enough to fly.
Meanwhile, from the US, before she was able to secure a seat on a plane, she and the family rallied round to pay every kobo required, every kobo directly and indirectly demanded, officially or unofficially. No expense was spared.
But what did the family see at LUTH.
LUTH had no equipment. Nothing. After the millions of Naira deposited, one still had to pay, separately, for soap and gloves. For a scan to determine the extent of damage to the head, Mr Adenibuyan was taken to a private facility outside LUTH. Why? LUTH said its own scan machine was not in “a working condition.” A Teaching Hospital? The scan showed a lot of blood in the skull. Nothing was done. A couple of days later, LUTH declared triumphantly that the “bleeding has stopped”. The question we, as laymen, asked was: What about the blood already accumulated there? Our elementary understanding was that the blood “has caked there!” If true, we were nervous about the implication.
More surprises were afoot.
On January 17, three days after he was admitted, LUTH said Mr Adenibuyan needed an Intracranial Pressure (ICP) monitoring machine. But this Teaching Hospital does not have the machine. When needed, it was explained to us, it is rented from outside. Cost: N400,000. The family paid. But the machine was not delivered until January 19th. And when it was delivered, it was left by the corner of Mr Adenibuyan’s bed for days, unused.
Perhaps, it was a coincidence, but the ICP Monitoring Machine was used only on the day Thelma arrived (24th) and began to ask questions. This was 10 days after he was referred to LUTH, and perhaps, 10 days after it should have been used.
Thelma arrived Nigeria at about 9.40am on Delta Airlines, and went from the Airport to LUTH to see her husband. She waited for about three hours before she was allowed to, after she incessantly requested to speak with his medical team. She wanted to know why the ICP had not been put in place as was revealed to her by Lekan, her step son, who was in Nigeria for a short vacation, and her husband’s younger brother, Deji. She wondered why the machine was just lying down there. When one of the doctors finally arrived, he tried to explain. But given Thelma’s background, and where she came from, the explanation made no sense to her. She hinted so in many ways, but was, at once very disciplined and too distraught to argue. But finally, she was told another doctor who would do that was being expected.
The doctor, an unassuming guy, competent, calm and collected finally arrived. We were sitting at the ICU waiting room when he walked past. Instinctively, and I guess, from his carriage, I knew he was the one, and I told Thelma so. She sent a message across that she would want to speak with him. Over an hour later, the Doctor came out from the ICU, and asked for Thelma. We followed him. And Thelma had a lot of questions and complaints. He listened, said he had just returned to the country the previous day, and was seeing Mr Adenibuyan for the first time, but quickly added “he is being attended to by a good team.” He explained to us where he thought he should, and apologized where he thought he should. For example, he agreed with Thelma that it was not right to intubate her husband without informing the family. He apologized it was wrong not to have carried the family along every step of the way. And then, calmly, he told us what the situation was, and the way forward.
He said Adenibuyan required an urgent surgery to release the pressure on the brain. He disclosed that the pressure was 61, far beyond the normal 15. This was what Thelma and Lekan consistently, subtly, suggested and appealed for: a surgery to release the pressure to the brain. It would entail a removal of a part of the skull bone to allow the brain swell and then, compress later to normal size. This should have been done, at most, three days after the unfortunate incident.
Anyway, better late than never, we consoled ourselves.
The time for the surgery was set for 4.00pm. But again, a problem.
LUTH does not have a drill. The family was told “there is only one place to rent it. Cost N200,000. No problem. This was on a Thursday. The surgery was meant to be done immediately. But the rental place said “drill not available until Friday afternoon”. Another vendor was frantically sought. He agreed for N180,000, and promised to deliver it against the 4.00pm surgery time. Great. Our spirit lifted some.
But another problem.
Unbelievably, LUTH does not have more than two functional surgery rooms. So, there is usually a queue. Adenibuyan had to wait. One doctor, obviously frustrated by the situation told us: “Today two are functional. Tomorrow, Friday, only one will be available.”
So, I asked why: He told us: “We have 22, but there is no manpower. Doctors, Nurses, Technicians, most have left. If the 22 are open, there will be nobody to man them. Nobody. So, why keep them open?” We were appalled. Our hearts sank. But we held unto hope.
So, either as a result of the queue, or the unavailability, yet, of the drill, the surgery was shifted from 4.00pm to 8.00pm. I left, and told Thelma I would be back by 7.00pm. But just before 5.00pm when Thelma went in to see her husband again, his health had taken a nosedive. Even then, the man who hadn’t opened his eyes for 10 days, opened them once he heard his wife’s voice. She held his hands tight. “Baby, you know why I came. I came for you. We are going back together. I will put you on a flight. We go back together. Your treatment will be taken care of in the US. And, you will be perfect. We’ll be fine, you and I.” The three Doctors Thelma met, she told them the same thing. “I am going back with my husband. That’s my mission. To take him back to the US with me.”
That was not to be. While Thelma held his hands, and CPR was being performed on him, he gave up. He died. In his wife’s arms. Same day she arrived Nigeria.
Since Adenibuyan’s passing, too many questions remain unanswered about our Country’s Healthcare system. Take LUTH for instance.
It is not that there are still no qualified medical personnel, even with the exodus, but here is the problem. There are no medical equipments. The medical personnel are just managing, barely managing. Or, how does one explain that a Teaching Hospital, LUTH, no less, does not have a functional scan machine; does not have ICP Monitoring Machine, or the equipment for drill?
It is the shame of a Country. Like I said earlier, it is not the problem of the Medical Personnel. I admit that the work ethics of a number of them is zero. Compared to what we see in some other climes, they need a re-orientation. There is no sense of urgency. Atimes there is no empathy. But I also admit that their work a environment is a major problem. It is not inspiring. I admit that their welfare is a major problem. It is depressing. I admit that knowing what to do, and not having the equipment to do it is frustrating. One of the doctors who spoke to us out of frustrations said: “You are talking about the equipment.Where is the manpower? Because of our situation, most of us have left. A number of those remaining are on the verge of leaving.” When I asked if he was on his way out too, he gave a knowing smile. I helplessly shook my head.
Since Adenibuyan’s death, regrets have been our food. Many “ifs”. What if he hadn’t been referred to LUTH? Perhaps he would still have been with us. What if LUTH had used the ICP machine as at, and when due? Perhaps, he would still have been with us. What if the drill was used as at the time it should have been used, perhaps he would still have been here with us. What if some sense of urgency had been exhibited, perhaps, he would still have been here with us.
The Federal Government shamelessly laments what negative effect the ”Japa” syndrome has had on Nigeria’s healthcare system. It shamelessly tells us that 42,000 Nurses have left Nigeria in the past three years. Why not? How has the FG treated them? What have you given them to work with? Now, shamelessly, it is putting obstacles here and there to stop Nurses from leaving. Why? My response is in one word: Shame.
Isn’t it a shame that the Nigerian Government, from State to Federal Government which throws money around as if it is going out of circulation, cannot boast of one good Government Hospital except Lagos State. I am reliably informed that Lagos State University Teaching Hospital, LASUTH, affiliated to the Lagos State owned Lagos State University, LASU, is very well equipped by the Lagos State Government. In our doubts at LUTH, one woman called us aside and asked: “Why did you come to LUTH? Why did you not take him to LASUTH? This type of injury is better handled there.”
We spend tons and tons of money, billions of Dollars, trillions of Naira, on frivolities, on things we can do without. How does one explain that $6.2m was spent, allegedly, without authorization, on foreign election observers when LUTH has no medical equipment? Of what use was the presence of the foreign observers to the masses? Did their presence stop us from rigging, from snatching ballot boxes, from doctoring results? Nigeria spent this money when LUTH has no medical equipments, not even a functional scan machine. How does one explain that the sum of one billion Naira was recently requested to enable a Committee fix Workers salaries? Yet, our premier hospitals are empty? Can you imagine what that obscene request could have done for LUTH?
But back to Thelma. We don’t know how to handle her, or what to tell her. She is distraught. Disoriented, almost. Her mission to take her husband home to their “second Country”, US, blew up on her face. “Oh, your husband loved you to death. He waited for you to come back , to see you before he passed on. He even opened his eyes for the first time in 10 days once you arrived”, Thelma is told in a bid to console her. Where do all those leave her?
All she knows is that the Nigerian healthcare system failed her. Her mission to take her husband back to the US with her failed. She was, at a point, making inquiries for an air ambulance to evacuate him to the US. That failed. Ironically, what worked was taking him back to Owo in a body bag! Sad!!
Mr Adenibuyan, as your beloved wife fondly called you, may your soul rest in peace. May you find peace in the fact that you are finally, finally back to your cherished Owo.
[OPINION] Tinubu’s accurate 12-year-old prediction on subsidy removal effects - Farooq Kperogi
AdminON January 11, 2012, Bola Ahmed Tinubu published a sober, thoughtful, deeply insightful, and penetratingly foresightful article titled “Removal of Oil Subsidy: President Jonathan Breaks Social Contract With the People” that uncannily prefigured the untoward consequences of petrol subsidy removal that Nigerians are currently grappling with.
The article has trended on social media in the last couple of weeks, but I had never taken the trouble to read it until multiple people who I regard highly sent it to me in what seemed like a coordinated torrent of forwards.
But after reading the 4,000-plus-word article and finding out that it predicted the current petrol-subsidy-removal mass excruciation Nigeria is suffering with almost mathematical exactitude, I became suspicious of its authenticity. It was too good to be true.
My incredulity compelled me to make inquiries, which led me to realize that the Nigerian Tribune had actually fact-checked the genuineness of the article on May 31, 2023. It not only found that it wasn’t fake but also scanned and uploaded a printed copy of the article published in The Nation, Tinubu’s paper.
I encourage everyone to read it. In the article, Tinubu derided the 2012 removal of petrol subsidies as the “Jonathan tax,” and the following paragraphs are particularly noteworthy for the mysterious precision of their prescience:
“Government claims the subsidy removal will create jobs…. The stronger truth is that it will destroy more jobs than it creates. For every job it creates in the capital intensive petroleum sector, it will terminate several jobs in the rest of the labor intensive economy.
“Subsidy removal will increase costs across the board. However, salaries will not increase. This means demand for goods will lessen as will sales volumes and overall economic activity. The removal will have a recessionary impact on the economy as a whole. While some will benefit from the removal, most will experience setback.
“What is doubtless is that the Jonathan tax will increase the price of petrol, transportation and most consumer items. With fuel prices increasing twofold or more, transportation costs will roughly double. Prices of food staples will increase between 25-50 percent….
“Most people’s incomes are low and stagnant. They have no way to augment revenue and little room to lower expenses for they know no luxuries; they are already tapped out. The only alternative they have is to fend as best they can, knowing they must somehow again subtract something from their already bare existence.
“There will be less food, less medicine, and less school across the land. More children will cry in hunger and more parents will cry at their children’s despair…. Poor and middle class consumers will spend the same amount to buy much less. The volume of economic activity will drop like a stone tossed from a high building. This means real levels of demand will sink.
“The middle class to which our small businessmen belong will find their profit margins squeezed because they will face higher costs and reduced sales volumes. These small firms employ vast numbers of Nigerians. They will be hard pressed to maintain current employment levels given the higher costs and lower revenues they will face.
“Because the middle class businessman will be pinched, those who depend on the businessmen for employment will be heavily pressed. States that earn significant revenue from internally generated funds will find their positions damaged. Internally generated revenue will decline because of the pressure on general economic activity. The Jonathan tax will push Nigeria toward an inflation-recession combination punch worse than the one that has Europe reeling.
“This tax has doomed Nigeria to extra hardship for years to come while the promised benefits of deregulation will never be substantially realized. People will starve and families crumble while federal officials praise themselves for ‘saving money.’ The purported savings amount to nothing more than an accounting entry on the government ledger board. They bear no indication of the real state of the economy or of the great harm done the people by this miserly step.”
Like I have done for years, Tinubu also fulminated against “European conservatives” whose economic prescriptions are at variance “with the needs of the Nigerian populace.”He even said something that is eerily close to what I wrote in a previous column. “There has been no nation on the face of the planet that has developed or achieved long-term prosperity by devotion to conservative, ultra-free market economic ideas that dominate this government,” he wrote.
“If no nation has grown using these conservative ideas,” he asked, why are we stuck with them? I have an answer, and it’s three-fold: sadly familiar Nigerian elite self-love, xenophilic obeisance to mean spirited racist wretches at the IMF/World Bank, and a visceral disdain and blithe unconcern for ordinary Nigerians.
Like Tinubu pointed out in 2012, the removal of petrol subsidies in 2023 merely took money from the so-called oil subsidy cabal and put it directly into the pockets of politicians without hurting the bottom line of the subsidy cabal. The cabal simply pushed the extra cost of importing petrol to consumers.
In the aftermath of the removal of subsidies, allocations to the three tiers of government rose by 29.05% in just six months. By the end of 2023, governments shared N15.1 trillion, which represented an increase of N3.4 trillion from 2022.
Note that, according to the Punch of September 22, 2023, N3 trillion was budgeted for petrol subsidies from June 2022 to June 2023 (although it was N1.57 trillion in 2021 and N1.27 trillion from January to May 2022, indicating obvious fraud). In other words, the money that would have been used to keep the pump price of petrol at less than N200 per liter was simply shared between the presidency, governors, ministers, and the rest.
State governors now receive several folds more money than their normal monthly allocations without a corresponding increase in their expenditures. Because they have way more naira than they have use for(of course, they don’t care about the masses), they convert the extra naira into dollars, which contributes to the relentless depreciation of the naira, according to the Business Day of February 13.
In other words, to put it even more crudely, the masses and the economy benefited more from the corruption of the subsidy cabal than from what has replaced it since May 2023. But, as I pointed out earlier, the subsidy cabal isn’t hurt in the least by this change. Apart from pushing the cost of importation to consumers, they are now receiving subsidies through the back door to keep the price of petrol from climbing to over N1,000 a liter, which the IMF is now instructing Tinubu to stop.
The only losers are ordinary Nigerians, small businesses, the informal economy, and the manufacturing sector. After Tinubu said subsidies were gone in May 2023, the GDP of the transportation sector contracted by 50.64% in the second quarter of 2023 and by 35% in the third quarter, according to the National Bureau of Statistics (NBS).
The road transport sector is the most reliable barometer to measure the health of commerce and of the informal economy in Nigeria. Petrol subsidy removal is killing it. A November 28, 2023, Business Day headline succinctly captures this: “Subsidy removal pushes transport industry into recession.”
My job as an inveterate opponent of subsidy withdrawal is made easier by the knowledge that Tinubu knows the truth. He knows for a fact that petrol subsidies are not a waste, especially if the corruption in the administration of subsidies is addressed. He knows that it’s an investment in the people and in the economy.
Petrol doesn’t just power the transportation sector, it’s also the main source of electricity generation for industries, small businesses, and the vast majority of our people. Given that Nigeria has the worst electricity generation record in West Africa (and possibly in Africa), it’s easy to see why a drastic rise in the cost of petrol activates an across-the-board cost-push inflation and deepens the misery index in the country.
Tinubu knows this but has chosen to care more for the validation of the sadistic bastards at the IMF and the World Bank than the comfort and wellbeing of his people.
There’s no doubt that it’s the IMF and its evil twin, the World Bank, that are ruling Nigeria. Tinubu’s government is just a proxy. For example, just two days after the IMF told Tinubu he must remove electricity subsidies (I had no clue such a thing existed given the unreliable electricity in Nigeria) Minister of Power Adebayo Adelabu announced that the government would withdraw electricity subsidies.
The same IMF has also instructed that the surreptitious subsidies the Tinubu administration is paying to stop petrol prices from getting to—or even rising above— N1,000 a liter must be stopped. Get ready for another bumpy ride, Nigerians. Until half the country drops dead from starvation, the IMF, which is the real government in Nigeria, won’t rest. I can guarantee you that.
The environment is getting increasingly toxic. The toxicity is so palpable you would think it can be held in one’s hand. It is flowing out of outcry of anger which in turn is primarily from experiencing hardship and a feeling of uncertainties of daily living in these times. In Nigeria, the outcry is over escalating prices of foodstuff, in several cases shooting beyond reach, beyond the roof. Transportation costs have similarly gone up astronomically. What makes it all the more troubling is the security problem in many places which keeps farmers away from their farms. The situation is such that the Emir of Kano, a normally reserved institution, has had to parcel complaints of hunger in his domain wrapped in a message to President Tinubu through his wife, Remi. The Sultan of Sokoto has spoken about how much efforts traditional rulers in the North have been making to calm the nerves of their youths who have been restive. He was kind enough to state that the difficulties in the land did not start with the Bola Tinubu Administration and that the Administration is a continuation of the previous one.
In some parts of the world, there are already signs of economic heat flashing in the horizon, too. Take as an example the number of years that may be required of a first-timer to be able to buy property today in London. According to The Telegraph digital edition, first-time buyers of property in London are now to save for 31 years for a deposit as homes today cost 12 times the average yearly salary. The newspaper reports as follows:
“A typical first-time buyer in London will have to save for 31 years to raise a deposit on a home, twice as long as their parents, analysis shows.
“A Londoner on an average salary would need to save 10 percent of his take-home pay for three decades to afford a 20 percent deposit on a 438, 000 Pounds property—the average price for a first-time buyer in the capital. However, in 2003 the equivalent figure was just 15 years.”
Although, evidently we are living in unusual times, with several parts of the world engulfed in one affliction or the other, Nigerians believe the hardship in the country is peculiar. Last week Thursday, South-West Iceland experienced a volcano for the third time since December. Amidst assurances by the Federal Government spokesmen that the hardship in our land would soon be over, Nigerians believe that the Nigerian troubling situation was complicated and some think, triggered by the peremptory withdrawal of petroleum subsidy without cushioning effect mechanisms already in place before the announcement was made. What is not often stated is, yes, Bola Tinubu formally removed the subsidy, the Minister of Finance and Coordinating Minister for Economy in Buhari Administration, Mrs. Ahmed, said the Buhari’s government did not make provision for subsidy in the budget Tinubu inherited. The error of Tinubu was that he did not handle the issue with enough care. Brave though he was, he walked through landmines and he did not tiptoe; he did not exercise enough care; he did not handle the issue diplomatically enough. The consequence is that he has had to carry the can for accumulated failings of recent years.
A litre of petrol, PMS (Premium Motor Spirit) rose from between N178 to N650. Because motion is a Law, movement of persons and goods constitutes foundational factor in the affairs of man. We move from home to work and from work back home. The farmer transports his produce to the silos from where in a chain they finally reach the market and the end user through one form of movement or the other. The transporter buys fuel. Therefore, whatever touches movement must trigger ripples in the affairs of daily living. And so, everyone talks about costs and margins. A bag of rice has shot up from between N30,000 and N35,000 early last year to N65,000 currently. Transport is thus admitted as a major expenditure head and catalyst of cost-push inflation. Indeed, it was the currency change fiasco of late 2022 to early last year that moved the price of rice from N18,500 to N30,000. The price of garri has gone up in a similar sharp manner.
Swarovski in his book, The Time is Ripe, says: “The only one way out of the dilemma, chaos and confusion besetting nearly all humanity and our world is to understand the wider correlations.” What are these wider correlations? He continues: “We must realise that all there is, all that lives, owes its existence to an extra-material Force which in the last analysis dominates everything. Beauty and harmony are obviously the main concern of this marvelous Force and we human beings must strive to make this concern our own and translate it into reality.”
In other words, we are not heeding the fundamentals. And it is hard to admit that as Cassius says, “The fault, dear Brutus, is not in our stars, but in ourselves that we are underlings.” The Law of Movement is exhaustive. It makes for freshness, constant renewal, and preservation. Non-observance of the Law of Movement makes human beings prone to illness. There are birds that have lost their wings with which to fly and there are fishes at the bottom of the sea that can no longer swim. To prevent illness we are admonished to exercise our bodies. The Law is such that when we sleep, we roll from one side of the bed to the other. The Law makes the earth to move round its axis every 24 hours to give us day and night and round the sun in 365 days to give us seasons which in the temperate region are distinctly four: spring, summer, autumn, and winter. These are hardly distinguishable in the tropical region. The seasons in the tropics are simply rainy season and dry season. One month of what is known as the Platonic Year or the Great Year is 2, 160 years and it gives us an Age. The Platonic year itself spans 25, 920 earth years. We can from this see this period in which we are — between when the Lord Christ left the earth and now which is the proverbial End-Time — is the Age of the Holy Spirit. It should stand to reason that the closer to the Source of Life, the faster movement is. This is why as we are told in 2 Peter 3:8, “With the Lord one day is as a thousand years.” This is saying, therefore, that three days in the Light Realm translate to three thousand years on earth. The power that is active in the Law of Motion cannot permit a standstill not, above all, in the quest for higher knowledge, spiritual knowledge. Physicians admonish us to take a walk, to exercise ourselves for good health. Scientists, geologists in particular, would tell you that there is movement even in the rock as it consists of chemical compounds that are inherently animated and which in turn are composed of protons, neutrons, and electrons.
There is also the Law of Cycle and there is the Law of Reciprocal Action. This latter Law ensures that the harvest is tied to the sower. It is thus said that what a man soweth that shall he reap — in multiples. The Law of the Cycle ensures that the end goes back to the beginning. This demonstrates to us that what is sown as seed goes back to the sower as fruit for harvesting. The maturation period of each plant depends on its nature. Bitter Kola takes between 29 and 32 years to produce harvestable fruits while maize takes only three months, vegetables, 12 days, and yam nine months. We sow in thought, in speech, in our volition, and in our action. When we harvest, the consequences depend on its nature. What else do we want as proof that the Laws work collaboratively, manifesting the Will of the Almighty Creator? Because the Creator is perfect and eternal, it should follow that the Laws issuing from Him must be perfect and eternal. Being perfect, they are not in need of improvement. They are immutable, they are self-acting and self-enforcing; they are incorruptible. They are the mechanisms with which the Most High governs His Creation, seeing to the germination, maturing, and ripening of fruits. Mango trees are bringing forth fruits now. From one seed of mango, we have a giant tree brandishing its fruits that will be ripe very soon for harvesting. Yam and cassava are both tubers, but they are different species. To harvest yam, we have to plant yam, and to harvest cassava, we must plant cassava. The Laws are the manual of Creation, which demonstrates to us what Creation consists of and how the Almighty God works in His Creation.
The other Laws are the Law of Attraction of Homogeneous Species; the Law of Balance and the Law of Spiritual Gravitation. The Law of Attraction of Homogeneous Species stipulates that like attracts like. The Law is reflected in the popular saying that birds of the same feather flock together. In the animal kingdom, in the gathering of giraffes, no one can find sheep or goats. Thus, people of the same tendencies are pulled together. They gravitate readily towards one another to form their communities where they are nourished by the radiations peculiar to their native soil, the stars, the wind, and the plants. They would have practically similar if not the same world view, values, relative strengths, and weaknesses. When Africans meet in foreign lands, there is a stirring within their souls, there is uplift in their souls and it is easier for them to strike a relationship, seeing themselves as brothers, than others who are fundamentally alien to them. In their home countries, political competition could be fierce. There will be those who will rise above the din; such a situation is an indication of inner radiance and polish. In another incarnation, such will move to a higher level where their new spiritual maturity places them.
We experience the Law of Balance every second — in breathing and in give and take. There must be balance in inhalation and exhalation. In business, we balance the books. We strive for balance in measures of articles to ensure fairness. Equity is equally found, applying the Law of Balance. Where there is imbalance, there is instability and there are complaints of lack of consideration for others. We observe the Law of Gravitation in the weights of objects. What is light floats to the surface. A ball no matter the efforts which may be made to have it kept at the bottom of a river will float whereas a sinker or a stone thrown into the same river goes to the bottom of it until it can find its level and balance. The Law of Spiritual Gravitation determines who takes flight at the end of our sojourn on earth to the Light Region, the Spiritual Realm that is Paradise, and who goes down to the Dark Region. Purity and nobility make the spirit light, but wrongdoing constituting guilt and dross gives the spirit weight which makes it sink into Darkness and damnation.
It is these Laws that give expression to the Will of God. Since Creation came out of His Will, it is governed by It. This Will is unyielding. It is this Will that His Messengers, Prophets, and Teachers of Mankind came to explain to mankind at different epochs as the Commandments of God. The Teachings were in the measure of the development of the people among whom they incarnated. Moses, one of the leading Teachers of Mankind, for example, received the Ten Commandments of God on Mount Sinai. No sooner than these Servants of God left than mankind formed religions around their Teachings and formulated doctrines and creeds that were and still are at variance with their true Teachings and instructions. The teachings of the Lord Jesus Christ, the Truth Bringer was Himself not spared. He was received with intense hate and envy, especially by the religious and political establishments of the time who saw Him as a threat to their power and influence on the people they led. His Teachings were distorted and are so to this day. That Will, rightly understood, meant to lead us mankind away from wrong causes that in turn lead away from tribulations has been replaced by the will of men in parliaments and other levels of political leadership. Laws are enacted by consensus and by show of hands.
There is hardly any point I have not hinted at before in this column. In view of the pervading hardships, disasters — natural and manmade — wars, economic collapse, and political instability, it bears repeating that they are largely consequences of obstinate deviation from the Will of God and replacing it with man’s will expressed in human laws. The higher knowledge of Truth existing on the face of the earth today permits us a good grasp and understanding of all events in our world. The laws of parliament are subject to debate and regularly amended, Lawyers are required to interpret them and it is not all the time they agree on the interpretation of these laws. Higher, appellate Courts are required for the interpretations which are regarded as final. And the esteemed jurist, Oputa, Mr. Socrates of our time, thoughtful, quotable, and quoted said referring to the Supreme Court: We are final not because we are not fallible, but fallible because we are final.”
The hardships, which arose out of the ongoing compulsory purification, will not cease until the return to that which swings with the Holy Will on earth—until we adjust ourselves to the Supreme Laws which are at work. Swarovski, an author and industrialist, said: “All through the history of mankind up to the present time the necessity of what will give us high value has been given far too little attention, if any, and that is the cause of a great deal of hardship and trouble—the cause of restlessness afflicting the world today many things which are obviously wrong are said to be in the spirit of our times, of the changing times.”
TIME FOR EVERYTHING
There is time for everything. There is time for joy and rejoicing; there is time to mourn and go sorrowing. Publications have been made and going viral in social media about Herbert Wigwe, the Managing Director/CEO of Access Bank, and to a lesser extent about Abimbola Ogunbanjo, corporate lawyer and one-time Chairman of the Stock Exchange. The publications purportedly detailed what can be regarded as dirty deals in the acquisition and development of Access Bank.
The publications at the time of sorrow and grieving are in very bad taste. True or false is not the point. The publications should have waited. An unspeakable tragedy has just hit the nation. Even if to demonstrate our deep feelings, humanness, and sense of propriety, the publications should have waited for perhaps six months for the families and friends to be relieved of their pains. Here was a man who met what we would call, in general parlance, his untimely death in a gruesome manner. Wigwe lost his wife and son and his lawyer and there is an atmosphere of gleefulness and gloating suggesting that the death served Igwe right and I ask myself: Have we been so drained of our humanity and deep sense of empathy for our fellow men? Their remains had hardly even been gathered how much less flown back home in Nigeria before the publications began. Abimbola Ogunbanjo died in the tragic crash barely three months after the exit of his illustrious father, Chief Chris Ogunbanjo. The wreckage itself was mindboggling.
This is a mourning period for the nation no matter how we look at it. So devastating is what has happened that the President, Bola Tinubu wasted no time in sending out a proper condolence message to the families and the nation at large. Most of the people said to be involved in the deal: Aig Imokhuede, Emir Lamido Sanusi, and Mrs. Oputu are still much in the flesh. Why the haste? It rings in the ears of a determination to completely rubbish the memories of the departed in the eyes of those who love them. The publications are indecent, insensitive, and cruel.
Ejindu`s grandfather, Okachie the wise, was always a man of great insights. He knew Alaoma and its people like the back of his hand. But he was also not a man of many words. Were he a man of many words, he would have told Ejindu, his grandson, and many other people, that his insight into people’s nature and character was a gift of the gods. He would also probably have said that it was partly because he had seen so many years in the village that he could tell the turn of events simply by sniffing the wind.
But he was no talkative. Thus, no one knew his thoughts on these matters.
He was always his own man. He believed that the spoken word should be accompanied by action; hence his aversion for people who talked too much. He once rebuked an imprudent prattler by advising him to watch his steps, lest he step on a rattlesnake and join his ancestors prematurely.
Okachie taught his son Obidike, and his grandson, Ejindu, that one must always do one`s best to ascertain which bridges to burn and which ones to cross in life. He always warned them never to forget that no one could do an evil did and truly be at peace with himself, or with the gods.
He sometimes spoke of destiny, but of destiny made by each individual for himself. He would not give window to the lazy and unsuccessful who blame destiny for their failings. Nor would he approve of the attitude of the brave and successful who make the mistake of flaunting their achievements, as if in defiance of the gods.
He respected and praised diligence and responsible behaviour, in leaders and the led alike. He had no regard for the bad people in the community, whatsoever. The repeated attempts of many good people to call the depraved among them to their senses over the years had all been to no avail.
Okachie, therefore, knew for a fact that the bad, the depraved and the temporarily triumphant in Alaoma, had prepared their own fate. He also knew that the fate so prepared had become inevitable.
He has seen many people rise and fall in his long and eventful life. He has also watched the fortunes of those who overrated themselves plummet. He has come to realize, with time, why the fate of people who overrated themselves was always easy to predict.
He likened them to reckless butterflies which, thinking that they could take liberties with the flickering light of the open flame of an oil lamp, soon discovered that the fire usually burnt flying insects to death. And the discovery always came when it was too late for the unfortunate insects.
The few reckless, fire-loving, night insects that managed to survive such encounters usually got de-winged and diminished; unable to ever fly again. Thus, de-winged, they would not show themselves anywhere among flying things ever again. They had become crawling things, through their own efforts at folly. They would all be eventually eaten by ants, rodents, frogs and worms. Their tomfoolery made their fate inevitable.
Okachie used to warn Ejindu, his grandson, not to be deceived if some bad and reckless people appear to be doing well. Not even when their prosperity lasts for a while! And not when their apparent good fortune seemeds to make a mockery of the gods and of the laws of the land. It would only seem to be so, Okachie would say.
Such people usually came to no good in the end. More often than not, their end was quick and inglorious. They would pass away with appalling ease, unsung; to be remembered occasionally when parents wished to admonish their children about the dangers of presumption and reckless living.
Like the morning flower that withered with the upward climb of the morning sun, the memory of such people served as perpetual reminders to others; that only fools used the early morning flow of customers to make proud pronouncements about how the day’s sales would be in the market.
Okachie once told a group of reckless young men that a man who refused to learn from the mistakes of others was like an oiled calabash that remained dry inside and outside, after long hours in water.
The oiled calabash absorbs no water. Therefore, it gives none. It gets immersed in the richest abundance, but only serves as an instrument for carrying such abundance to others. It is no example of how to absorb water when immersed in it.
Okachie would call such people forests without game! Cobs without corn! Castles without gates and guests! Clouds without rain! Hens that do not know the value of ‘kwom, kwom’, the calling sound, for guiding young chicks along the path of life and away from danger!
He once warned a disrespectful young man thus: ‘When elders see the first dance steps of a young man who receives the Ozo title at the age of twenty, they know whether he would live to be an old man.’
Okachie could say that because he had seen many such young men come and go. He was an old man now; a very old man indeed, from whom even other old men often sought wisdom.
Ejindu, his grandson, often recollected the many patient lessons and kind words of wisdom from his grandfather. He always felt humbled by the fact that his grandfather was a man so completely without airs that you sometimes wonder who, or what, he really was.
Through this patient old man, Ejindu had come to know and understand much that he would not otherwise have ever known, or understood, without the benefit of being close to his grandfather. Yes, Okachie was a man from whose words you sometimes discerned the voice of the gods. It was as if his ancestors knew his nature and gave him that name.
The name, Omee-Okachie, means ‘one who does, or says, and rules that it is over and cannot be redone – or undone’; `one whose actions, and pronouncements, are to be accepted as a matter of course’. An Omee-okachie is not to be contradicted in word or deed. He earns, receives and enjoys respect without being arrogant.
And this particular Omee-Okachie has held his position as head of his filial clan with a quiet, unobtrusive but unassailable dignity and authority. As head, he was the custodian of a family tradition.
He lived true to his name, but almost like some kind of benevolent guardian spirit to everyone. Alaoma people knew that for a fact. As the oldest and wisest man in the community, he was now also the village Patriarch. He was, at once, leader, guide, teacher, nurse, mentor and healer.
While his position as community patriarch was conferred on him by age and wisdom, his status as Patriarch of his extended family was conferred on him by the filial Patriarch before him. It would be his task to also eventually identify another and hand over this custodianship, the way he was identified and given the mantle.
He thought about this from time to time, often wondering whether he was taking too long in handing over the custodianship to another. At least the feeling was creeping in on him that he was running out of time and that he needed to discharge this burden sooner than later.
Then, one fateful Eke market day, an incident occurred that led to his son, Obidike, becoming the new head of the filial clan. And it came without any warning.
It was just like any other day for Agbonma, his wife, Obidike and his siblings, until Okachie came back after the day`s work. They were all surprised, even a little startled, when the man of the house walked into the family compound with strangely slow and heavy steps. This was most unlike him.
When he stopped midway and stood on one spot in the compound, apparently lost in thought, Obidike and other members of the family sensed that all was not well. More so, because they noticed that he was not fully conscious of what was going on around him.
He was like a man in a semi-trance, or someone who was seeing only the thoughts in his head. Strange!
It was still early evening when he walked into the compound. The full evening was merely sneaking up from behind the late afternoon, to subtly drag it along and force it to become night. Yes, the sun’s eyelids were beginning to look heavy. They were slowly covering it in the western sky. And it looked so terribly red.
As the giver of daylight was quietly disappearing under the massive, crimson eyelids of clouds, while it was still visible, with its wide afterglow, Okachie was still standing there in his compound.
The full evening finally came! The evening birds started singing and chirping in neighbouring bushes. The crickets started clearing their throats and warming up their wings for yet another round of night music. What would moonlight games be without these musicians of the night? How would you enjoy the moonlight tales without the sounds that made them so genuinely traditional and real? The crickets, the insects and other creatures of the night, usually created the chorus of sounds that added joy to every night in the community.
But Okachie could hear none of that as he stood transfixed. Whatever put him in this state must be serious and ominous. Given the sombre air, there can be no gathering of children under any benign moonbeams. No dreamy, and sometimes scary, stories about the amazing exploits of the ever-cunning tortoise, no!
But enough of Omee-Okachie and all that.
The above, from my coming book, “The Return of Ejindu, deliberately “speaks in tongues”. Nigerians are perplexed. There is fear and trembling, everywhere. Riots may escalate, as insecurity and hunger escalate. State and local governments ignore their roles as primary custodians of the people’s welfare. The precipice is so close, but is overlaid with coloured mats. Do you smell bad news in the air, from Okachie; who is still standing in the compound – as night closes in?
QUOTE
Nigerians are perplexed. There is fear and trembling, everywhere. Riots may escalate, as insecurity and hunger escalate. State and local governments ignore their roles as primary custodians of the people’s welfare. The precipice is so close, but is overlaid with coloured mats. Do you smell bad news in the air?
Those who know Mr. Olayemi Cardoso will agree he got his current job as the Governor of Central Bank of Nigeria on a platter of solid professional background and strong personal attributes. His pedigree is rich as his character is unsullied. Cardoso had a remarkable private sector career where he shone brilliantly in banking, stockbroking and consulting.
Cardoso also came from a very solid family pedigree. Nigeria’s late Prime Minister, Sir Abubakar Tafawa Balewa, appointed his late father, Mr. Felix Bankole Cardoso, as the first Accountant-General of the Federation in 1963. The late elder Cardoso served with enviable record till 1971.
Part of the remarkable private sector career of Olayemi Cardoso was his appointment as the Chairman of the Board of Citi Bank in Nigeria.
Cardoso began his public service journey when he became the Commissioner for Budget and Economic Planning in the cabinet of Asiwaju Bola Tinubu, Governor of Lagos State as he then was in 1999. In addition to superintending that ministry, Cardoso was charged with several other responsibilities including heading important cabinet committees that birthed landmark agencies in the state. Cardoso was known for enforcing strict budgetary discipline that contributed significantly to the overall success of the Tinubu administration in Lagos. He refused to authorise the release of funds for projects or programmes that had no budgetary head. For all of that and many more, Cardoso was nicknamed the Headmaster.
Armed with a Bachelor of Science degree in Managerial and Administrative Studies and Masters in Public Administration from the prestigious Harvard Kennedy School of Government and parading strong personal attributes, Cardoso is obviously a perfect fit for the CBN top job. He is calm but firm, strict but fair, prudent but practical, straightforward and honest with loads of integrity. These are the unique qualities he carried unto his job at the apex bank and his major selling points when on September 23, 2023 he officially assumed office with the Senate confirmation of his appointment.
However, it does appear Cardoso will need much more than that to succeed in his present assignment. Under him, the CBN seems to be doing the right thing or doing things right: thinking and working on coming up with appropriate monetary policies, moving to rein in the rising foreign exchange rates and particularly achieve an appropriate value for the naira, which Cardoso believes has been undervalued.
But in the wake of the floating of the Naira, some of the variables shaping the value of the national currency, including limited production in the country as a result of insecurity, Nigerians’ high taste for imported products, dwindling exports, poor dollar remittances, humongous school fees of Nigerian students abroad and medical tourism all of which engendered a strong demand for dollar, far outweighing supply, seem to be clearly beyond his control.
Until these situations change for better, no amount of monetary policies by the CBN will work any miracle, hence Cardoso’s predicament. For instance, in his presentation at the sectoral debate organised by the House of Representatives two weeks ago, the CBN governor lamented that the growing number of Nigerian students studying abroad, increasing medical tourism and food imports have led to the depreciation of the Naira against the Dollar. According to him, over the past decade, foreign exchange demand for education and healthcare totalled nearly $40 billion, surpassing the total current foreign exchange reserves of the CBN, while personal travel allowances accounted for a total of $58.7 billion during the same period.
Another critical yet intriguing factor but seemingly odd in Cardoso’s reckoning is the perception in some quarters of some of the decisions of the CBN, which the apex bank considers purely administrative, but which some others give strange connotations.
One of such is the decision to move some departments of the bank; notably banking supervision, other financial institutions supervision, consumer protection department and payment system management department from Abuja to Lagos.
Indeed, until the Emir of Kano, Alhaji Aminu Ado Bayero, spoke on this issue last week, I had reckoned that the imperative of the planned relocation of some CBN departments and the headquarters of the Federal Airport Authority of Nigeria from Abuja to Lagos was evident enough. I had reasoned that the Northern politicians including Senator Ali Ndume from Borno State who had moved to bring down the roof over the development were merely playing politics.
The Emir of Kano, a highly revered royal father, raised the ante last Monday while receiving the First Lady, Senator Oluremi Tinubu, who was in Kano to inaugurate the School of Law Building named after her by Maryam Abacha American University of Nigeria, and had stopped by to pay a courtesy call on the Emir.
Emir Bayero, whose speech was translated from Hausa to English Language by a senior palace counsellor, had told the First Lady to convey his message to President Tinubu. He said among other things: “We are indeed suspicious on why Mr. President single-handedly relocated key departments of CBN, and outright relocation of FAAN to Lagos.
“We are receiving a series of messages from my subjects, and most of them expressed concern over the relocation of CBN and FAAN to Lagos. President Tinubu should come out clean on this matter and talk to Nigerians in the language they would understand. Do more enlightenment on this matter. I, for one, cannot tell the actual intentions of the government. We should be made to actually understand why the relocation of the CBN and FAAN offices back to Lagos.”
Many will wonder why some members of the northern elites are losing their cool, misinterpreting this move and, perhaps inadvertently, heating up the polity on this rather elementary matter. Is their reservation altruistic? Or are they just being sincerely mistaken and reading unnecessary motives into the policy? With the benefit of hindsight, one can say that Cardoso and his team should have understood the political dimensions of the decision better and undertake a more effective public enlightenment on it rather than treat it as a purely administrative matter. Knowing the kind of people and country that we are and the fact that ours is a multi-ethnic, multi-religious and multicultural society where every action or decision is viewed from ethnic and religious lenses, the CBN ought not to have released the news about the movement of the departments concerned in a routine manner as it did.
It should have released the news with the detailed information and explanation behind the move. The CBN Communication Department should have deployed all in its arsenal to explain the movement to its critical stakeholders and the general public. The apex bank should have seen the movement beyond a mere administrative move, which is within its remit to do. The bank should have situated the movement and anticipated the social and political meanings some may give it. That is how things run in Nigeria.
A deeper and detailed explanation was later provided when Cardozo appeared on the floor of the House of Representatives in Abuja. I was there at the session and witnessed it all. Asked by one of the members of the House from the North, at the session, the rationale behind the movement, the CBN Governor said: “There is nothing political in the movement. We didn’t change any plan. It has always been like that to ease banking supervision. Most of the banks are based in Lagos. So it works well for supervision if our officials are there with them and close to them and close to those the banks interact with. It’s for administrative convenience. It’s also cheaper for the CBN.” He also disclosed that the movement of the departments concerned to Lagos is also important because, according to him, the country is at the point where there is a need for more banking surveillance.
It is important that the CBN governor draws the appropriate lesson from this. He should learn from this experience that though his job of superintending the country’s monetary system is a professional and economic one, yet it has its political aspects. His decisions have consequences not only on the economy but also on the political front. As such, the CBN Governor must always pay attention to the political ramifications of his decisions.
He must be political without being partisan.
Indeed, his situation is also not helped by the fact that he has had very political predecessors-in-office including the high-sounding Professor Chukwuma Soludo, the soft-spoken but loud former Emir of Kano, Khalifa Sanusi Lamido Sanusi, and the immediate-past Governor, Godwin Emefiele (this one even attempted to contest for president while holding the office as CBN governor).
There are a couple of things to say on the hoopla about the staff transfer though.
One, President Tinubu is receiving attacks over the movement. Emir of Kano says he must reverse it, urging the First Lady to deploy the feminine soft power to actualise this. Yet, to all intent and purposes, the President that is being asked to reverse the transfer may not have been apprised of the decision because he does not micromanage those he gives responsibilities to where their unique expertise and experience are called to service. The CBN on its part may not have briefed the President because Cardoso had seen the planned movement as purely administrative.
Secondly and more importantly, those who are responding negatively to the policy are treating Abuja as if it belongs to the North rather than being the symbol of the entire country as the Federal Capital Territory. In that capacity, as the FCT, Abuja belongs to all and belongs to no one. In the same vein, as the economic capital and nerve center of the country, Lagos is a melting pot where representatives of virtually all ethnic and cultural groups in the country reside and earn a living.
There is absolutely nothing that says that the headquarters of all Federal Agencies must be located in the Federal Capital even when economic considerations and efficiency dictate otherwise. Some federal agencies reside neither in Abuja nor Lagos at present and their work go on unimpeded.
In any case, President Tinubu’s pan-Nigerian outlook and credentials are too well known. His ability to build political and personal networks and relationships across the length and breath of the country were partly responsible for his victory in the keenly contested 2023 presidential election. He will be the last person to approve or support any policy designed to be detrimental to any part of the country.
But for CBN Governor Cardoso, all of that represents his baptism of fire and a wake-up call for him to be a little more flexible particularly in matters that have wider political connotations.
– Rahman is a Senior Presidential aide
I don’t even understand it any more.
Nigeria was destined to win the 2013 AFCON. I believed it with all my being.
Then it did not happen!
It is very significant that the federal govt still went out of its way to reward the team as if they won! That, is very significant, because the Eagles were rewarded even for not coming first!
But why?
I was there at the stadium in Ebimpe. We were cruising to success. Then it happened!
Paseiro? Okay, fate has determined his fate. He is leaving with adequate rewards for his effort. But no more! Let him go! He is not good enough for the future. No sentiments, just the bare facts.
Now, I have learnt of 6 Nigerians that died from watching the semifinals and final matches of the AFCON. It is unheard of in my entire relationship with Football. 6 persons and still counting, from the tension of Nigeria not winning? What does this sacrifice of innocent lives mean? We will never know!
In the past 24 hours, I have learnt that a teacher in my own school, a gentleman we all call ‘Ten-Ten’ because of his love for football, died as he was watching the Eagles start to lose to Ivory Coast.
I also lived in the house of Chief Labiyi in Oke Ado in Ibadan. He was the former Principal of Ibadan Grammar School. Wale and Jide were Chief Labiyi’s children. Wale died last week whilst watching the Super Eagles lose to Cote D’Ivoire.
I learnt about these two deaths in the past 24 hrs. This adds to the 4 other Nigerians that were reported to have died whilst watching the disappointment of the Super Eagles’s performances between the semi-final and final matches.
There is something about those matches and the seeming ‘sacrifices’ made by these 6 (and possibly more) Nigerians that loved their country so much, and died under the pressure of wishing for the country’s success.
I am just leaving Ibadan.
I arrived Nigeria and have not gone home in Lagos to see my family members. I drove straight to Ibadan to be a part of the burial ceremony of my friend and colleague, Phillip Kweku Kolawole Boamah, who died some moths ago. Phillip was a Ghanaian football player that played for the national team of Nigeria and was part of winning Nigeria’s first continental club football trophy in 1976.
His death and burial were a solemn reminder of our collective mortality.
I am grateful to the children who organized a very dignified and befitting funeral.
Yet, it was a reunion of some sort.
At the end of the event, a few friends from those years back in the day in Ibadan, came together to share ‘communion’ of lunch and drinks in remembrance of Philip.
In the picture are old Comradès in the business of fun in Ibadan - from left of picture- Tokunboh Adejumo (my in-law), Godwin, Yours truly, Gbola Bakre, and Pius Aludo, leaving qn old ‘joint’ for our reunion!
I am still thinking and working out the connection between that and Nigeria’sloss at AFCON. Was losing a price to pay for what could have been a bigger ‘disaster’? We will never know, will we?
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I have received so many condolence messages from friends and persons I do not even know on the death of my boss, brother and friend, Dr. Herbert Wigwe. Indeed, the outpouring of grief across the country has been overwhelmingly comforting. I thank you all.
But this evening, I received a strange call from a friend, who told me that Herbert’s death is a punishment from God because when Access Bank acquired Intercontinental Bank, some people who worked for the acquired bank had developed heart attack and died. I lost my cool and told him that he’s talking nonsense.
Even before Access bought Intercontinental in 2011, there were many mergers and acquisitions in the banking industry arising from the banking consolidation of 2004 and 2005. The bank I worked for then merged with four others and formed a new, bigger bank. Many lost their jobs, but they ended up reentering the industry as the sector expanded, while some others changed careers. Those who attended business school would recall that all M&As will always result in job losses because the synergy created usually lead to some redundancies. This is typically presented in the equation: 1+1 = 3.
Herbert is not the first person to die in an air accident. Remember ADC, Dana and Bellview air crashes? Did the passengers all die because of what they did? In 1995, many school kids coming home for Christmas holidays from Abuja died in Sosoliso air crash in PH. Did those children die because they bought a bank? Did they die because of their sins? What of those air crashes involving Ethiopian airlines, Malaysian airlines and other international airlines?
Is air crash the only way that people die tragically? What of those who die from drowning, fire disaster, electrocution, armed robbery attacks or even kidnapping? Is it also because of whatever they did on earth? What of women who die from childbirth? What of children who die from the six childhood killer diseases?
The person who called me this evening presented a very uninformed and nasty understanding of death, ethereal and esoteric matters. He was very insensitive to the huge loss that has befallen me. I am happy that I gave him a piece of my mind.
Herbert Onyewumbu Wigwe (15 August 1966 – 9 February 2024)
He made a living, and a fortune, pitching and being pitched to. In a viral video circulating in the wake of his passing, he’s captured pitching his latest project: a new University. “This is your project, and you will protect it with everything you have,” he says, in pidgin English. “There will be no University like this, no just in Nigeria, but even in Africa.” The crowd—young men from his ancestral home, where the University is sited—is fired up, and break into song and dance intermittently. This son-of-the-soil addressing them looks unsure whether to dance or not. He’s clearly far more at home in gilded boardrooms, speaking English, not pidgin. At the same time, venturing passionately into unfamiliar territory is how he’s managed to come this far.
Besides passionately sharing his many visions, Herbert Onyewumbu Wigwe loved nothing more than closing deals, and executing projects. “His answer to me was always the same: my brother, done!” says someone who grew close to him in recent years. Over the course of two decades, Herbert, alongside his best friend and business partner, Aigboje (“Aig”) Aig-Imoukhede, whom he first met in 1989, built Africa’s biggest bank by customer base, and Nigeria’s largest by assets. At the time of his death, Access Bank Plc was settling nicely into a world-conquering phase, expanding aggressively in and beyond Africa.
His empire included his non-profit, The Herbert Onyewumbu Wigwe (HOW) Foundation. (He signed-off social media posts with #HOW). Wigwe University, taking shape in Isiokpo, his bicycle-loving, masquerade-flaunting, oil-rich hometown, in Rivers State, to “raise the next generation of fearless leaders.” Craneburg, one of the most prominent construction businesses in Nigeria today, founded by his wife, Chizoba. And several other business ventures he personally founded or invested in, often quietly.
He was energetic, restless, ambitious. Executive Director at Guaranty Trust Bank at 33; Group Deputy Managing Director of Access Bank Plc at 36; Managing Director and Chief Executive Officer at 47. He talked fast, moved even faster. Together, the pair of him and Aig formed one of the two most intriguing tag-teams in recent Nigerian banking history—the other pair being Fola Adeola and Tayo Aderinokun; the older-by-a-decade co-founders of GT Bank, from where Aig and Herbert resigned as Executive Directors in 2002 to buy and lead Access Bank. (Tragically, Tayo Aderinokun passed away in 2011—only a year younger than Herbert would be at his own death).
In their days running Access Bank, Aig and Herbert earned reputations as taskmasters. (Aig describes it, in his 2021 memoir, as “our fabled work ethic”). Critics saw them as willing to go to any lengths to achieve whatever they sought. The landmark takeover of Intercontinental Bank in 2011—which tripled their customer base—was believed to be a hostile, even ruthless, one. Not uncommon allegations, admittedly, at that level of performance.
“M&A Mindset”
In the wake of his death, the tributes pouring in all point to a man who was incredibly kind and supportive to many, always looking out to offer a helping hand. There was always room in his circle for people he considered smart and ambitious. His Executive Assistant came from Diamond Bank, which Access acquired in 2019.
His “Mergers and Acquisition mindset” (as a tribute by Alex Otti, banker and current Governor of Abia State, described it), fueled much of what he accomplished. Never satisfied with the status quo, he was always nudging the people around him to dream and to do more. Gbenga “GB” Agboola, founder of Flutterwave, one of Nigeria’s fintech Unicorns, recalls the challenges Herbert regularly threw at him: “GB, what’s the size of your ambition?” “Why wait to invest back in Africa?” “Who is the next GB? Back them! Make the journey easier for the next guy!”
He’d earned the right to ask this of others. When he and Aig took over Access Bank in 2002, it was 65th in size, among Nigeria’s 89 banks at the time. Today, the bank is setting African records. When his tenure as CEO of Access Bank came to an end in 2022, he stepped up to become CEO of Access Corporation, the new Holding Company created for the financial services group. Not having to directly run the bank did not diminish his influence in any way. It allowed him to add more to his plate, in fact. He was named President of the influential France-Nigeria Business Council in May 2023. He began to devote more time to his University, for which he budgeted half a billion dollars in personal investment.
Not to forget the palatial new home in Ikoyi, Lagos—built by Craneburg—of which breathtaking video footage has emerged since his death. It is said that, till the end, he was still requesting additional work on the edifice.
Giving and collecting
He gave generously to countless causes, often quietly. His church, the Redeemed Christian Church of God (RCCG) City of David parish, in Lagos, was a big beneficiary, especially in its mission to help poor children. Under his leadership, Access Bank sponsored the annual Lagos City Marathon (he died on the day the 2024 edition held), as well as sporting events and arts festivals within and outside Nigeria.
It is hard to think of a more ambitious Nigerian art collector than Herbert. In his vast collection sit two iconic pieces: separate portraits of him and his wife, Chizoba, painted by Kehinde Wiley, whose most famous painting is an official portrait of President Barack Obama. (Another famous Wiley portraiture subject is former President Olusegun Obasanjo, painted as part of a project documenting African Heads of State).
His passion for art also included acquiring, at significant cost, iconic work of Nigerian origin from foreign owners. There was the long-lost-but-found “Tutu”, painted in 1974 by Ben Enwonwu—for whom Queen Elizabeth sat for a sculpture, a decade before Herbert’s birth)—which Access Bank acquired in 2018. Also in the Access Bank collection, a set of seven wooden Enwonwu sculptures, commissioned by the UK’s Daily Mirror in 1960, for its new London Headquarters.
A wingless end
On a helicopter flight in 2017, Herbert told a protégé, “When it’s your time, it’s your time.” He was not unfamiliar with the grief of bereavement. His older brother, Osita, died in a car accident in 1997. Three years later, his pregnant cousin and her husband were killed in another tragic car crash. Then there was his recent cancer scare. Even as he became more health-conscious, quitting alcohol and taking personal fitness seriously, the fragile-ness of life was never lost on him. One of his last posts on X ended with: “Let us number our days.”
The final day came most unexpectedly, on a “wintry” February night, in the United States of America. Aboard an Airbus H130 helicopter chartered to fly him, his wife, Chizoba; eldest son, Chizi; and friend, Bimbo Ogunbanjo, from Los Angeles to Las Vegas, for the 2024 Superbowl, an annual fixture on his calendar. Exactly what happened to the chopper is still being pieced together by investigators. None of the four passengers and two crew members aboard survived.
He is survived by aged parents, three children, and siblings. And a sprawling business empire—including private investments in several businesses—the true size of which may never be fully known. “The scale of what he’s leaving behind, mostly uncompleted, is staggering,” says a friend.
In 1961, shortly after completing the Daily Mirror sculpture series, Enwonwu, the celebrated sculptor, said of the 7-piece collection: “I have tried to represent the wings of the Daily Mirror, flying news all over the world.” There is a 2017 photo of Herbert posing with the collection at an art exhibition in Lagos in 2017, a suited eighth figure amidst the ‘winged’ wooden posse. A fitting pose for a man who gave wings to every project he embarked on, and to many of the people he met on his life’s journey.
In an ironic twist of fate, the end came for him in the air, on a wingless aircraft—without a pitch persuasive enough to stave death off.
“I remember a friend of mine in the oil industry, who during a meeting of an economic think tank. He called the then president aside and said, ‘Mr President please stop this subsidy, we are tired of making money…We’re bringing in this fuel at an elevated cost and half of it is exported out of Nigeria by the same people collecting money for it”
There is an apparent consensus of opinion that Nigeria has not had a good outing under the stewardship of President Bola Ahmed Tinubu. The main extenuation for this lapse is that he inherited a basket case from his predecessor, Major General Muhammadu Buhari.That may well be the case but this extenuation flies in the face of his own verbalised utmost quest and carnal desire (lifelong ambition) to become the president of Nigeria. I do not exactly recall whether it was
Usman Dan Fodio who counselled society to be wary of whoever desires the aroma of power the most. Buhari’s obsession with power and what he did with it for eight years proves the point. May Nigeria be spared the repeat of the Buhari cross all over again.
Beware of what you crave, you may just get it. Having now been gratified with the object of his ‘lifelong ambition’, Nigeria lies prostrate before President Tinubu but he has so far failed to master the moment. In fairness to him and unlike his predecessor, he has largely refrained from making a song and dance of the Buhari (dysfunction) extenuation. Save when he characterised the transition from Buhari to his government as ‘moving from darkness to a glorious dawn’. While the characterisation of the former President’s tenure as an era of “darkness” is apt, it would amount to standing reality on its head to cite the incumbent president’s tenure as anything near a glorious dawn.
The potential crowning glory of the Buhari dysfunction and one I regret not supporting was his desire to foist former President of the Senate, Ahmed Lawan as the president of Nigeria. And he was thick enough to try it. If he had succeeded, he would have sufficiently radicalised Nigerian politics, and clarified the choice before the country as never before. Already cut too deep, the cleavages would have irretrievably cut deeper. The affront was bound to foster a make or break crisis whose ramifications would force a fundamental constitutional review of the status quo or worse.
Imagine the spectre of Vice-president Atiku Abubakar as the Peoples Democratic Party, PDP candidate and Ahmed Lawan as that of the APC, and the certainty that the election will be rigged in favour of either presidential candidate. To the contrary, with the election of Tinubu as a sop to the Yoruba, Nigeria has won a battle but lose the war. As we have come to learn, the restructuring din has quietened down to a whimper. A very smart politician, contemporaneously I
cannot recall him ever owning restructuring as priority- that is if he ever touched the idea at all on his campaign rostrum.
As programmed, he has deflated the bubbles of the only viable status quo answer to the question of what ails Nigeria. I was surprised at the conniving power politics posture of the Yoruba intelligentsia towards the realpolitik of contemporary Nigeria. The better option of Peter Obi was put down as representative of Igbo triumphalism! It went all the way back to the politics of playing the Yoruba against the Igbo.
I marvelled at the spectre of respected scholars who taught us on how tribalism is the bane of Nigerian politics becoming the standard bearers of the very ill they professed against. It was the perfect opportunity to breach the to- your- tents-o-Israel barrier that had kept Nigeria down for so long. Love your neighbour as you love yourself, thus sayeth the Lord. And it was reckoned as one of the most important commandments.
“The two great commandments, as found in Matthew 22:36-40, are to “love the Lord thy God with all thy heart” and “love thy neighbour as thyself.” The Lord did not qualify the commandment as applicable only to those you like. It is a challenge to our individual and collective morality and test of commitment to principles, to stand by a principle when it is not convenient to do so. The more cynical of them rationalised their position with the logic that if Nigeria is fated to ruin and damnation, it makes sense to have your son at the commanding heights!
As you might have rightly guessed, the reference to Rawlings in the caption is a metaphor for a near revolutionary take over of government. To a considerable extent, the inability of Tinubu to stare down the challenges and problems of Nigeria boils down to not wanting to commit class suicide. If he really wants to commit to doing his job well, he has two options.
One is to go for a constitutional review towards the end of securing the restoration of federalism. The other is to lead by the power of example. The latter point is not as trite as it sounds. In the affairs of men, it is inevitable for society to experience crisis and tribulation. So by itself, the bad spell Nigeria is going through is neither new nor unprecedented. What matters most is the demonstration of enlightened self-interest, the capacity of the ruling elite to mobilise the citizenry by the power of personal example and discipline.
Within the context of Nigeria, It may sound utopian, but think of a shirtless Rawlings driving a bulldozer. If you have your leaders miraculously borrow a leaf from this playbook, the masses will forget they have not eaten a piece of meat for weeks.
I do not need to go into the sordid details but the statement of intent indicated in the budget presented by the president a few months back is a contraindication of leadership by example and a mockery of the Nigerian masses. It is a budget of how not to mobilise the people behind your leadership. It is not a budget of how to exhort your people to think of what they can do for their country and not what their country can do for them.
As Nigeria’s cup of iniquity overflows with no discernable silver lining in the dark horizon, my mind has been waxing subjective and unorthodox dimensions. In my last outing, I wrote of making atonement for the sin of our forefathers participation and connivance in the slave trade as a spiritual panacea for what increasingly appears to be a digging deeper into the hole of mass immiseration and underdevelopment. I got this inspiration from the most accomplished American president, Abraham Lincoln. He believed that the American civil war over the institution of slavery was punishment and atonement for the role of America in the transatlantic slave trade.
As I contemplate the ratcheting up of public service corruption in Nigeria today to the level of unimaginable perversion and sickness, my mind wandered to how Shehu Yar’Adua came to terms with the dilemma. I doubt if decent society has any lessons to learn from the peculiarity and oddity but it is story worthy of being told. It is a story of how effective he was in securing his political goals and objectives. It was as cynical as it was effective. If the former number two man in the military government of Obasanjo, was sending a political subordinate on an errand, he would inquire about the cost implication of the task. Having been apprised of the financial implication, say ten million Naira, he would give the money as requested. He would then top up the money with another ten million, so the fellow would have less incentive to fignal with the original ten million. And it worked!
In theory and practice, I do not know how to substantiate this primitive formula but ranged against what presently obtains, it appears to me a good bargain (if we can get ten billion naira value for a contract awarded for twenty billion).
It is six months now since Isa Yuguda has made his earth shaking revelation. The response of the President was to cast a vote of confidence in the man at the centre of the worst scandal in Nigeria and reappoint him as the Group Managing Director of the Nigeria National Petroleum Corporation, NNPC. Neither has he deemed it worthwhile to invite the remorseful friend of Yuguda to come and tell all he knows as a participant-observer who has become tired of making billions at the expense of the Nigerian public
If I were to choose between the governed and its government, I will choose the latter. This is because it has been established that the former are fortune hunters who in a world of ‘survival of the fittest’, seize every available opportunity to inflict hardship on their fellow compatriots while the latter is saddled with the onerous task of keeping man who is often insane under control. Nothing brings this home more vividly than the ongoing war of attrition being waged not just by the political and economic elite, but by ordinary Nigerians against Nigerians.
We have all become vultures feeding on the blood of the most vulnerable. From fuel subsidy scammers, foreign exchange speculators to the Kano food distributors who short-changed farmers but locked up food items in warehouses while people starve, the egg and bread hawker on the streets of Lagos who attributed high cost of their wares to dollar exchange rate, the first instinct is always how to exploit the vulnerable.
I discovered from a nearby grocery store last Sunday that the price of a loaf of bread had gone up to N1, 300. It used to be N1, 000. Since there was no value added, I decided to drive to another store where I thought I could get ‘coconut bread’ for N1,200. There also, I discovered the price had gone up to N1,600. After wondering when we started importing flour and coconut, I was forced to buy the bread. The story was not different from my neighbour who supplies us fresh eggs from his farm at N2,400 per crate. The price has gone up to N3,500, per crate. He attributed the difference to high cost of drugs needed to treat his birds.
High cost of living has led to demonstration against government in a number of Nigerian cities. Last Thursday, it was the turn of Kano State. The city’s residents took to the streets calling on President Tinubu to come to their rescue as they could not “eat three square meals even the one square meal is now becoming difficult, as a bag of rice which used to go for N25,000 now attracts N70,000. And “Sugar which was sold for N8,000 now goes for N75,000”.
But as if to confirm we are all vultures, three days later, on Sunday February 11, the Kano State Public Complaints and Anti-corruption Commission confiscated 10 warehouses with hoarded assorted foodstuffs in Dawakin Tofa Local Government Area of the state. According to Muhyl Magaji, the commission’s chairman, “The owners have been issued notice to report to the commission preparatory to facing charges before the court of law for their illegal activities”.
Perhaps we need a journey through memory to remind ourselves how greed by a few fortune-hunters led to the removal of fuel subsidy by government and the floating of the national currency resulting in current massive depreciation and escalating cost of living.
Fuel subsidy scam started at the onset of the fourth republic when PDP stalwarts and their sibling defrauded the nation to the tune of N1.7trillion by “forging papers without importing a pint of fuel,” in the words of Audu Ogbe the then PDP national chairman. A probe by the National Assembly indicted a number of fuel marketers. (Otedola masterminded a DSS sting operation to nail Lawan Farouk for receiving bribe in order redmove his name from the list.)
Then a forensic probe of Sanusi’s (CBN Governor) allegation that $49.8b was not transferred to the federation account by NNPC confirmed $10.8billion was never reconciled. Andrew Yakubu, NNPC group MD later said $8.76B of the amount was used for subsidy. (An Abuja High Court presided over by judge Ahmed Mohammed who ordered EFCC and CBN to transfer $9.8 million and 74,000 pounds recovered from Andrew Yakubu to an account under the control of the Chief Registrar of the court in March 2022, discharged and acquitted him of all charges).
Sanusi however insisted such expenditure without appropriation was unconstitutional especially since subsidy on kerosene had been cancelled by Yar’Adua since June 15, 2009 when it was discovered that ‘if anyone was benefitting, it must be marketers and government officials. Sadly, about N500 billion was purportedly spent on kerosene subsidy in four years when the product was hardly available at filling stations or sold for N150 as against consolidated N50 controlled price. President Jonathan knew about the scam but shielded his friends in PDP, NNPC and the petroleum ministry.
Buhari similarly failed the nation. Isa Yuguda, former governor of Bauchi State and chairman of the committee on subsidy in 2009 told Channels television “I am sad to let Nigerians know what I saw. We came across situations where subsidy was claimed on pipeline that never existed…. Those that claim to pump the product and those that are in the subsidy scam, they just fill papers, invoices and they claim subsidy on it”.
But no sooner President Tinubu declared during his inauguration that ‘fuel subsidy was gone’, than the vultures in the guise of marketers swung into action. Within an hour of the statement fuel disappeared from filling stations across Nigeria or sold for about N700 per litre where available.
President Tinubu also admitted inheriting ‘a rotten’ financial system. The Jim Obazee-led special investigation of Emefiele’s tenure as CBN governor was to later unearth a damning report of monumental mismanagement, fraud and arbitrariness, looting, diversion of funds, forgery and collusion against Emefiele and about 15 others. Specifically, the was an investment of billions of dollars in over 500 banks IN USA, UK and China without approval of CBN board. There was £543,482,213 in fixed deposit in one of the banks in UK.
From alleged manipulation of the forex markets by banks, First Bank, UBA, Zenith, Access and GTB reported a combined N1.38trillion in forex revaluation in the first half of 2023.
As at July 2023, there was also N26.627 trillion in ‘ways and means’, whose “management was dogged by a lot of arbitrariness with funds taken out of the national treasury without necessary authorization”.
Government’s efforts at stabilizing the exchange rate through the unification of the official and parallel market exchange rates “hailed by economists and other stakeholders” have continued to be sabotaged by “some commercial banks who hold long-term foreign exchange positions to enable them profit from the volatile movements of exchange rate”.
In a move to reduce the pressure on the naira, the Economic and Financial Crimes Commission has raised a 7,000-man special task force across its 14 zonal commands to clamp down on dollar racketeers.
For President Tinubu, the subsidy removal and the floating of the national currency were fait accompli. Unlike President Jonathan and Buhari, there was no escape route. There was just no money to run the government. With 97% of our resources going into servicing debts, borrowing was not an option.
To reduce the burden of Nigerians, President Tinubu must recover our monies from all indicted oil marketers. The banks and some others owe AMCON close to N6trillion. These taxpayers’ monies must be retrieved from the banks and other debtors who are today serving senators or live like princes.
And as an elected sovereign, the president must be reminded he is free to take ‘protective measures including invasion of personal privacy and assault on group culture’ to safeguard the interest of the state.