By Chibuike Mgbeahuruike
As Nigeria navigates the complexities of its recent history, it is noteworthy that we have transitioned from the challenges of 2023 into some sort of a new form of uncertainties of 2024. While the obstacles that characterize such uncertainties are known to all—they are diagnosed everywhere, in every media debate and every policy report—it is crucial to acknowledge the stark reality facing us and formulate courageous recommendations. We can begin that by reckoning with the culmination of observable facts, experiences, and prevailing circumstances within our democratic nation.
Despite the setbacks of the 2023 elections, Nigerians have exhibited resilience and a steadfast commitment to our country’s potential. Going in the same sense and fuelled by a deep-seated sense of patriotism, I recognize the imperative to advocate tirelessly for a renewed, improved Nigeria. Personally, I have undertaken a critical examination of our nation’s current state and identified numerous liabilities, many of which stem from the actions of the political elite. While it is important to note that these challenges transcend any single administration or individual, the dawn of a new government under President Bola Ahmed Tinubu signifies an opportunity for change. Leadership, as John Maxwell aptly states, is paramount, and accountability rests squarely on the shoulders of those in power.
Regrettably, the ramifications ineffective leadership are experienced unevenly, resulting in widespread dissatisfaction. It is imperative that we address these liabilities head-on. This initial instalment marks the beginning of a three-part series dedicated to candidly diagnosing the current state of affairs and providing clear recommendations for addressing them. I will delve deeply into these issues, emphasizing the critical importance of leadership accountability and the necessity for collective action to surmount the challenges confronting our nation. In no particular order, let’s go.
Naira redesign disaster. I know Nigerians forget way too quickly. But I am sure we will not forget in a hurry what happened just before the February 2023 general elections under the then President and the then CBN governor, how Nigerians were made to suffer untold hardships following the naira redesign and the attendant currency scarcity that dealt a heavy blow on the ordinary people. But what has changed? No sooner than the current president assumed office, alongside the current CBN governor, than the scarcity and the sufferings continued – leading to the question, why is Emefiele being dragged up and down? No plausible explanation has been offered. Yet, not many of us are surprised, because we can guess his level of complicity in the whole Naira hullabaloo. Some wonder if it is the usual corruption allegations that have become normal with public officeholders – once relieved of their appointments—or if it has anything to do with the funding or lending facility towards the accelerated new Lagos refinery said to be about the biggest global. Some allege complicity in dollar access and exchange rate transactions. Come to think of it, President Tinubu was one of the invited dignitaries who was conspicuously absent during the hurried launch of the Dangote refinery. Would Nigerians expect some level of accountability from the new government, or is it going to be business as usual?
One cannot stop wondering what hope is there for a country, where anything goes without any semblance of reprimand. Yet, it is uncommon to find a public servant who has passed through the gleams and glows of public office without getting enmeshed in one earth-shaking corrupt allegation or another. This has been the fate of the Nigerian nation-state since the heyday of military expeditions in politics. Corrupt tendencies have climaxed since the return of democracy in 1999. Right now, under the current leadership, nothing seems to have changed. Those who know, believe things are getting even worse. To use the words of a friend ‘’pillaging and plundering has continued as if we are in times of war; until we the people (with emphasis) collectively say enough, Nigeria goes down’’.
But how far down can we go as a nation, when politicians are ready to do anything, even to kill and maim, to capture power, and to remain relevant in the scheme of things? Just like my friend has suggested, I blame the office of the citizen, whose responsibility it is to demand accountability, justice, and transparency from their leaders, but have almost, always been unable to say no with some air of finality. Yet, we are supposed to hold our elected officials accountable for their actions. Not only that, we are to ensure that those who compromise the law among them are brought to justice. Where do we even go from here in search of justice, many would ask? Is it the Courts or the Tribunals? Your guess is as good as mine.
Methinks, with the 2023 elections generally perceived as compromised, though now in the past, we ought tonow be intentional in re-orientating ourselves afresh on the many burning national questions, to be able to make bold and informed decisions when next we have the opportunity to vote. The time to begin to rethink the idea of blindly following these half-baked and short-sighted politicians is now. The time to amply interrogate their personae, character, principles, or track records ahead or leading to another election year is now.
It would be surprising if the Nigerian people, after all the terrible experiences of the recent past, would not be willing to get organized this time around to reject and disown these characters once and for all. Beyond, rejecting the bad eggs seeking public office, I also think we should be ready and willing to deploy people’s power to protest against any form of tyranny, violence, impunity, or corruption whenever the situation warrants.
Let’s choose to organize. Most significantly, is for us to choose to organize rather than agonize! We should be willing to use our voices to demand the change we desire and hold these make-believe elected leaders accountable for their actions and inactions. We must begin to realize that Nigeria has found a common enemy in the political elites, who have continued to gang up against the ordinary people. It is only then that we can create a society that is sane, just, fair, and free from political manoeuvring. But as Plato aptly put it, ‘if you do not take interest in the affairs of your government, then you are doomed to live under the rule of fools’. For far too long, we have lived under the rule of fools. It’s high time we devised non-violent means to finally break the chains of oppression.
Before then, I also think, with the urgency of now, the current administration beyond grabbing power, should start locating where the rots are prevalent, to start doing whatever it knows, to address Nigeria’s rather unending woes. If they mean well, they could start responding to the many infractions and circumstances that have not allowed the country to breathe. These man-made conditions have the potential to finally bury Nigeria if they are not given the priority they deserve.
The worsening inflation. The latest wave of inflation was reported to be at 28.20 percent (said to be the highest since 2005) and slightly reduced to 27.33 percent in October, 2023. Experts were almost convinced the situation would degenerate further to 30.00 percent by the end of the first quarter of the year, courtesy of Trading Economics global macro models and analysts’ expectations. The same expert opinion also has it that one common method of managing inflation could be a contractionary monetary policy – which aims to reduce the supply of money within the economy by lowering the prices of bonds and raising interest rates. This, they say, involves a set of actions the CBN could take to tighten monetary conditions in the economy to reduce inflation. The policy also involves raising interest rates, reducing the money supply, and selling government securities to drain excess reserves from the banking system. The ultimate goal is to cool down an overheated economy, prevent inflation from spiralling out of control, and restore price stability.
All said and done, the commonest question, and one that interests all and sundry is, have our life been made any easier? The answer is capital NO. As we speak, food prices have soared beyond the reach of the average Nigerian. While the purchasing power has remained largely the same, we are paying more for food, more for drugs, more for petroleum products, more for transport, and more for virtually everything that makes life worth living.
Diminishing Value of the Naira. Why don’t we take steps to arrest the diminishing value of the Naira and exchange rate of the Dollar to the Naira? Usually, when inflation is high, we are told that it weakens the Naira in such a manner that suppresses, and therefore diminishes investment. In like manner, when inflation is low, the Naira tends to gain some strength, which may in turn improve the exchange rate. In the parallel market, as we speak, the Dollar buying and selling rate has been revolving around #1800 and #1900 respectively. However, experts project that the Naira is expected to continue its downward slide against major currencies unabated.
Transactional Politics. It is ironic, how under the current administration, tagged ‘renewed hope’, transaction politics continues to gain momentum; things have remained business as usual, considering recent goings-on around the corridors of power. Ordinarily, one would have expected some intentional and drastic actions by the new administration to redeem the plummeting naira value. But no, the government would rather prefer to continue paying so much for foreign-made automobiles to massage the ego of the 109 Senators and 360 House of Representative members of the National Assembly at the expense of supporting local manufacturers and strengthening the local economy – yet, we are growing the local economy!
Escalating Labour and Productivity Gap. Why don’t we engage the underutilized workforce in Nigeria? A large chunk of the population is economically unproductive either because they lack the requisite education or training that grants them the capacity to become productive. This demography is growing dangerously with supersonic speed. There is also the question of underemployment, which specifically speaks of individuals in the population who are either jobless, working in jobs that are less paying or do not reflect their skills and qualifications, resulting in lower income and productivity levels. According to NBS, in the second quarter of 2023, the unemployment rate was recorded to be at 4.2% – an increase of 0.1% from the figure recorded in the second quarter (4.1%). Among persons with post-secondary education, the unemployment rate was 8% in the second quarter of 2023, while among youths aged 15-24 years in the second quarter of 2023, the rate was 7.2%, having been at 6.9% in the first quarter of 2023. The majority of Nigerians under the age of 35 who have the potential to contribute to the economy, are currently not doing so due to various factors such as lack of education, skills, or opportunities. The preponderance of youths in this category remains a major concern because it tends to cause youth restiveness. The situation requires the government to be proactive and intentional about creating jobs and providing economic opportunities for young people. Anything short of an urgent intervention by the government will see a more pervasive diminishing of values and virtues among the youths, worsening of human trafficking, kidnapping for money rituals, and escalation of questionable and unverifiable money-making sources.
Meanwhile, there are time-tested strategies, a serious government may choose to adopt to drive down unemployment and boost employment. The government may wish to provide grants and loans, training, and support to the most affected. That way, those previously unemployed, may be assisted to grow and create more jobs. The provision of road, rail, and power infrastructure, could indeed go a long way to ease and sustain small-scale businesses.
Nigeria, the poverty capital of the world? Why don’t we get intentional to rid Nigeria of that poverty capital of the world tag? Anyway, here is the truth – Nigeria is home to the largest number of people living in extreme poverty (87 million people on less than $1.90 a day as of 2021), but the real poverty capitals of the world can be found in the South-East Asian region; the likes of Bangladesh and Nepal. Regardless, many in Nigeria are still struggling to meet their essential basic needs. The situation has been graphically described over and again as a keg of gunpowder waiting to explode any time. Nigerian poverty map shows that 65% (or 86.1m) of multidimensionally poor people live in the North of Nigeria, while 35% (or nearly 47 million) live in the South. Viewed as a frying pan-to-fire situation, a significant portion of this already poor population is also deprived of clean water, clean cooking fuel, adequate sanitation, and access to healthcare. This awful scenario which further impoverishes and exposes the women to very harsher suffering conditions, was in the first place systemic and weaponized to reduce the humanity of the average Nigerian. Through the instrumentality of elite-imposed poverty, the average Nigerian youth comes in handy as a tool to be toyed with by callous politicians.
Beyond the talk, the government can do something in the immediate, short, medium, and long terms. First, the Minister of Humanitarian Affairs, though currently enmeshed in a yet-to-be-substantiated fund diversion controversy, should develop a comprehensive poverty reduction strategy. The strategy should address the underlying causes of poverty, such as lack of access to education, healthcare, and basic infrastructure.
Improving access to healthcare at a time when most women do not know where to go to seek medical care for themselves and their children, especially in rural areas – is crucial for reducing poverty, as it helps to prevent illnesses and diseases that can lead to financial hardship. Corruption is a major barrier to poverty reduction because it diverts resources away from social programs and into the pockets of corrupt officials. This government should be seen to be taking strong measures to address corruption, in a way that transparency and accountability in public spending, as well as prosecution of corrupt officials, are not merely a media hype. There is an urgent need to empower women with economic opportunities as they are the most disproportionately affected by poverty due to gender disparities in access to resources and opportunities.
(Multi-dimensional) Poverty. Nigeria’s poverty situation has been described as multi-dimensional in nature. This ironically contradicts Nigeria’s status as a major oil producer and powerful player in the global oil market. The descent into multidimensional stature constitutes a bizarre and inglorious tag for a country reputed as an oil-rich and powerful nation. To so describe us also means that Nigeria’s poverty situation has gone beyond just income or monetary measures – just as governments claim they transfer paltry sums of money to unverified families without a dependable and comprehensive database. A multidimensional poverty reduction strategy must go beyond just cash transfers. We must come to terms with the fact that poverty dimensions cover such essentials as health, education, standard of living, etc. It therefore affects so many people in so many different ways. For instance, any meaningful and sustainable intervention must measure, not only the number of people living below a certain income threshold but also the extent to which those affected, lack access to basic needs and opportunities in their daily lives. Thus, addressing such a menace requires a multifaceted response.
Why don’t we address Insecurity in Nigeria which seems to have come to stay on account of its refusal to go away, or our refusal to decimate all its trappings? Although, from time to time, Nigerians are served the menu of reassurance from the four (no longer three) musketeers (Chiefs of Army, Airforce, Navy, and Police) that the menace has been decimated, all that reassurance is ironically regarded as political statements. Such reassurance tends to fizzle out into mere political statements because these Chiefs have neither done well for their subordinates nor have, they protected the interests of the rank and file that have continued to serve this country selflessly in the theatres of conflict in the Bokoharam ravaged areas. The escalating insecurity has become a major economic challenge in Nigeria, as banditry, kidnapping, and terrorism all of which has diminished regular armed robbery that once used to be a major concern. The real challenge now is the crippling of businesses, which has in no small measure dwindled what experts call ‘foreign direct investment’ with an overall negative impact on the economy.
Regardless of the misappropriation of security votes in the past, the government must continue to allocate ample funds to the security sector to enable them to procure modern arms and invest in intelligence gathering to prevent and prompt response to security incidents. There is also the urgent need to address the root causes and sponsors of insecurity (Buhari promised that much). Most importantly, the government should enhance and establish border control measures to prevent the influx of arms and ammunition into the country, which is a major contributor to insecurity.
Public Sector Corruption. Why don’t we deal with the issue of pervasive Public Sector Corruption in Nigeria which has become a legitimate concern of every patriotic Nigerian? It gets even more worrisome with the report of the Thabo Mbeki high level panel on Illicit Financial Flows from Africa adopted by African Union (AU) Heads of State and Government at their summit in Addis Ababa in 2015, that $40.9billion (about N6.87trillion) of an estimated $60billion (about N10.08trillion) lost through such transfers from Africa in a decade (2001-2010) are traced to Nigeria. , The report also noted that corruption in Nigeria is a major obstacle to economic development and poverty reduction. Another report by the Society for Forensic Accounting and Fraud Prevention (SFAFP), reveals that #2.5 Trillion is lost yearly in Nigeria due to fraud and corruption.
While the Nigeria Police Force, power sector, education, judiciary, and the health ministry have been ranked the top five most corrupt institutions in Nigeria[2] by Premium Times, most government agencies, ministries, departments, and parastatals at all levels of governance are ordinarily encumbered by this albatross in a widespread manner. Thus, bribery, embezzlement, and misappropriation of funds are commonplace. Public entities such as NNPC, Ports Authority, Maritime, Banking institutions, and many others are as culpable and hardly insulated from the ravages of corruption. In the very first week of the new year 2024, Nigerians were inundated with stories of multi-billion diversions and all whatnot. We also hear and read with trepidation; financial infractions allegedly committed by the former Humanitarian Affairs Minister to the tone of overN71b. During the same week of January 2024, we were also served another fresh corruption menu, this time it was the current Humanitarian Affairs Minister, Ms. Betta Edu to the tone of N3b, and more and more revelations. Overall, corruption has become so pervasive and destructive; seriously eroding trust in the conduct of government business. One commentator concludes that Nigeria cannot be great…until there is a total redirection of our mindset. A country where a politician’s primary mission in politics is to loot public funds without fear of recriminations.
We can only advise the government of the day, to summon the moral authority and the political will (though hugely lacking) to curtail further acts of impunity and corruption and to decisively go after those already indicted, even in this government. In this regard, kudos to Mr President for responding promptly to public outcry over the infractions by one of his youngest female Ministers. But there remain several others yet to be apprehended.
The government must be reminded that a war against corruption should be impartial and apply to all individuals and organizations, regardless of their position or influence. Just as Betta Edu is being ridiculed for her part in the saga, all other names mentioned alongside must be investigated and made to face the same ridicule. If it becomes selective, it can be perceived as a political tool to target opponents or shield allies, rather than a genuine effort to combat corruption. This can erode public trust in the institutions responsible for enforcing the law and undermine the overall goal of promoting transparency, accountability, and fairness in society.
Why don’t we get serious about improving the shortfall in social Infrastructure as evidenced by the inefficient power supply, poor road networks, lack of transport facilities, outmoded telecommunications systems, education, and health facilities, housing, public utilities, etc, has continued to dwindle the country’s service delivery potentials as well as diminish economic growth. What about other multi-billion investments scattered across the country that have since turned out to be at best, elephant projects; mere financial experiments that are no longer sustainable in nation-building? I remember once lofty investments that now appear to be a waste of public resources and has never really given back to the country in form of services to the people or earnings to the government – in this regard, we think of the Ajaokuta Steel Complex, PH, Warri and Kaduna refineries that were constantly subjected to turn-around destruction (not maintenance anymore), Aluminium Smelter Company, Ikot-Abas, Aluminium Company, Asaba, Obudu Cattle Ranch, CRS, and many more. It is indeed pathetic and lamentable how much of taxpayers’ money was invested in these foreign currency-earning entities!
Why not rethink Nigeria’s heavy reliance on Oil. Regardless of Nigeria’s unprecedented natural resource and agrarian endowments, the country’s economy has remained heavily dependent on oil revenues, with over 70% of government revenue coming from oil sales. This has made the country even more vulnerable to fluctuations in global oil prices and reduced its economic diversification drive. Under the administration of President Olusegun Obasanjo, a compendium of natural resource endowments and solid mineral deposits in Nigeria was produced and published following a comprehensive field investigation on what makes Nigeria an investor’s destination. It was discovered that out of the 774 LGAs across the length and breadth of this country, none is less endowed or without a fair and respective share of priceless solid mineral deposits under the soil.
Ironically, states and LGAs have continued to wallow in self-imposed and artificial lack which has also driven them to come cap-in-hand to Abuja for the revenue-sharing ritual at the end of every month – offering states and LGAs a paltry sum that accrues from petroleum products. A practice that has derogatorily been described as ‘’filling bottle democracy’’. This further underscores the absence of visionary and creative leaders in Nigeria.
We now come to the end of the first part of tripartite series of blogs. The next section coming soon on this platform will continue in the same tone but will provide more recommendations to helping us out of this current predicament.
