Showing posts with label OPINION. Show all posts
Showing posts with label OPINION. Show all posts

Wednesday 15 March 2017

THE DAWN IS HERE

Oyo State Map
Look back and get experience;
Look forward and see hope;
Look around and find reality;
Look within and find confidence;

So shall we look back and know where we are coming from. In Marcus Garvey's word, a generation without a sound knowledge of where they are coming from is like a tree without a root. It is a known fact that our dear state Oyo State of "blessed memory"-the glorious days have since become an illusion, is the most politically complicated state in the country. This is not so,but because the disunity in our diversity that has enveloped our socio-political atmosphere have not only affected the political arrangements of the state, it has also amount to grave underdevelopment in major parts of the state.
The contributions made by our forebears in ensuring the political independence with the spectacle of national unity in shaping the greatness of our beloved country is not a child's play. Let us not dig deeper,the stories and their respective achievements no matter how huge or small is still very much alive for every sane mind to glimpse at.
In the Pre-independence days and notably the first republic, Oyo state as it was then the capital of the defunct western region was the bride and toast of all and sundry. The pace at which unprecedented monuments and developments were experienced in those days have never been replicated by subsequent regimes. In those days Oyo state is well revered as the seat of thoughts and ideas,where people of different strata relates in their quest for knowledge and to engage leaders of thoughts.
Questions to be asked is
How did we got it all wrong,and at what point did we got it wrong?
The answer is not far-fetched,one fact that is peculiar to the good old days is the kind of Leaders we had and the harmonization of thoughts and ideas they shared in actualizing the common goal of ensuring the welfare of the populace is well taken care of. Bring up their names in public discourse and everyone far and wide will give a well deserved respect to their memories. The stellar ideological and democratic values they displayed in the course of giving governance to the people resonates directly with the yearnings of the teeming populace.

What Has Changed? 
Nothing has changed albeit Osun state being carved out of the Old Oyo state, but that is no reason for the excellent leadership lacuna experienced in the Agodi government house.Leadership position can never be empty. This is not to distance away from the fact that we've had men that distinguished themselves in their own capacity,the contemporary preference for political survival which in the real sense should be premised around the people they led still remains the reason why excellent leadership has evade us here in the pacesetter state. Give the people what they deserve and you remain in their memory till the end of time.
Chief Obafemi Awolowo is being remembered today not only because of his political sagacity,his governance style and his exemplary relationship with the people he led are the necessary materials that are lacking in the genre of leaders of today. The leaders we have today are more concerned about the affluence they command,they give zilch damn in how the kids on the street will get to school,how the health care system will be fixed,how to improve the welfare delivery to better the lots of the helpless in the society. It saddens one's heart to realise that most of the monuments-feeling a bit nostalgic, left by the first generations of leaders we have are been left to decay by subsequent governments,and those that are still standing are in pathetic state.
The present set of leaders rather would place their selfish interest above the welfare of the people they lead and turn themselves into 21st century Emperor unlike the first republic leaders that jettisoned their personal interest at the behest of the well-being and social-upliftment of the teeming populace.
Relevance can not be bought but earned. Dr Tai Solarin once said "Leadership means suffering",give the people good governance,and they will sing your name to high places.
The main point is in those days,excellence prevail over sectionalism,Unity prevailed over nepotism,and common goal comes before bigotry. It doesn't matter where you come from or which party you represented,so far your antecedent breeds excellence and you have an affable character. Example of such occasion was when Chief Adisa Akinloye of blessed memory led the Ibadan People's Party delegate to support Chief Obafemi Awolowo led Action group in the election of 1951 against a Dennis Osadebey who was projected by the NCNC having an Ibadan Man as the opposition leader in those days.
This same reason was what made Chief Busari Adelakun of blessed memory to vouch for Chief Bola Ige in 1979 as Governor of the Old Oyo State. All this people were legends of there time and have their names in the history book not because of their person but because they promote unity among themselves and were on course for a common goal which is no matter where you are comming from,so far you are capable of doing the job,you have their support.
However,in recent times we've let go of the common goal in actualising our projected pacesetting prowess for lies,bigotry and farcical sectionalism that was created by some set of selfish and good-for-nothing politicians in our state.
My curiosity led me to ask people around me a salient question which I know many people out there will be interested in. For the records,while Lagos state was the federal capital, Oyo was the capital of the old western region. Then the question is why has Oyo remain stagnant while Lagos is cruising at  the speed of Light? The cogent reason is not far-fetched, "Lack of Visionary Leadership".
While Lagos enjoyed successive excellent leadership,Leaders that tapped into the resources of their state for the benefit of the people and the state,while they were boosting Lagos economically,while they were developing Lagos to a formidable state that compares with first-class cities around the world, My people,I repeat my People were busy fighting over where the Governor should come from, they were busy fighting themselves on how to share the spoils,they were busy digging holes for themselves, before we could even say Jack Robinson, Lagos is head and shoulder above Oyo state.
The Case of Misplaced Priority
Sectionalism can be said to have erupted in Oyo State as far back as 1983. The scenario that played out between Chief Busari Adelakun and Chief Bola Ige who were once Political lovers gave birth to the thought of "Ibadan Must Be Governor". Let it be known that the fallout was never for public interest but a matter of personality and interest clash between the two which led to the fracas and subsequent political intolerance in the state. Let the historians take up the rest for another day!
My reason for pinpointing this fact is that as a student of history,we owe ourselves and our generation the duty to always get the facts right at all times. The records are everywhere to be cross-checked by anybody,we shouldn't because of our selfish interest play to the gallery to masturbate our ego at anytime.
Back to my earlier point,my take is this, which is very essential,after the separation of Osun state from Oyo State,Oyo state is left with Five Geopolitical Zones,our priorities should not be where the Governor or whosoever comes from,rather the best person,with an excellent antecedent and a visionary mind should always be encouraged to lead us at all times.
Placing Sectionalism above excellence will only continue to draw us back and our situation will be like that philosophical thought that said "doing the same thing the same way,and expecting a different result is the highest point of insanity". In 1979,it is safe to say that Bola Ige came from the Osun State of today,but his regime still stand as one of the best ever experienced in the history book of Oyo State.
The oldies of this generation have nothing but sheer selfish interest in promoting the Logic of the Governor must come from a particular place at all times. When a society is undergoing this kind of political imbroglio like ours with misplaced priority,the safety valves of the society is reposed in the youth,youth that are ready to wrestle their future from the claws of the old tigers. The mind of a typical youth is like an open blank book where many things could be written. As a youth we are undoubtedly a stakeholder in the system. As Cassius observed in Julio Ceaser "We are the master of our fate,the captain of our soul" are we ready to be the decision maker in what happens in our dear state? are we ready to take up the task of "GRABBING" our fate from the clutch of the fable that was created to serve sectional interest and not our collective interest? The time to take an holistic approach to governance and the issues surrounding our development is nigh.
The perspicuity in negativity of placing bigotry above excellence have been the bane of development, in Madiba's words "sometimes it falls upon a generation to be great,we can be that Generation",we owe our generation to correct this notion or the greatness we so much crave will continue to be an illusion.

The Change We Need
Times have come where we let go of those oldies that constituted themselves as an unchallengeable autocrats and an unrepentant emperor, in the nearest future which is 2019, Oyo State must go for a man whose viable antecedents speaks more of him than his words,who cannot be bought,whose word is his bond,who put character above wealth,who possesses opinions and will,who do not hesitate to take chances,who will not lose his individuality in crowd midst,who will be honest in small things as in greater things,who will make no compromise with wrong doing,whose ambitions are not confined to their selfish desires,who will make the interest of the people of the people of the state his priority,who is not afraid or ashamed to stand for the truth when it is so unpopular.

Join me for the next in series "Where there is a will" in few days time. THANKS

Wednesday 13 April 2016

How we all depleted the foreign reserves BY Eniola Bello

How we all depleted the foreign reserves
It was a chance encounter. But then a disagreement on the Buhari administration handling of the economy, or rather its (mis)management of the forex regime, developed into an interesting conversation on the Nigeria situation. The sparring partners? One is a businessman whose firm has extensive interest in civil engineering, construction and medical supplies, and who has been described as the man who hijacked a former governor in a Southwest state from his godfather. And the other is a senior journalist with a social conscience. For the purpose of this article, let’s call the one Tee, and the other Kay.
Tee: My Comrade, do you support this administration’s refusal to devalue the Naira?
Kay: Of course, I fully support the foreign exchange regime in place. There’s no reason why the government should succumb to the blackmail of those who want the Naira devalued.
Tee: Oh! I shouldn’t forget you’re a socialist. I hope you’d allow me to show that you are mistaken. The best thing for the economy right now is the devaluation of the Naira. As you very well know, we run an import dependent economy. The only export product from which we receive foreign exchange is crude oil, the price of which has crashed to less than $40 per barrel. When crude oil price was over $100 per barrel during the immediate past administration, President Goodluck Jonathan increased the minimum wage. Today, however, most state governments are having difficulties paying salaries. Companies are laying-off workers. Factories are closing down. With job losses worsening the unemployment situation, crime would only increase. Critical investors, because of the inflexible exchange rate regime, have bailed out of the country. The result? The CBN (Central Bank of Nigeria) is the primary source of foreign exchange. And because of the depletion of the foreign reserves, the CBN is unable to meet demand, and has therefore been forced to ration. The economy, which was growing 6-7% some three to four years ago, is shrinking as growth is no more than 2%. And the situation will only get worse.
The government needs to grow this economy. And in the circumstance in which we have found ourselves, Naira devaluation is the surest route to growing the economy. With devaluation, government will earn more on the Dollars from crude oil sales. The states would have the required revenue to pay salaries and meet their obligations to businesses. Workers would be empowered to spend. Companies would have the necessary resources to revive their operations, carry out expansion and employ new hands. Investors, knowing that with cheap Naira they are bound to make money, would naturally return to the country. And the logic of business greed is that, for every one dollar profit, an investor would most likely bring in $10 with the hope of making more profit. The CBN would therefore no more be the primary source of foreign exchange. The country’s reserves would rebound.
In any case, Nigeria should not concern itself with the Dollar. It is not our currency. We have no control over it in any shape or form. Even our singular export – crude oil – we have no control over the processes of its exploration, production and sales. We accept what our partners, the multinational oil companies, say they have produced and sold because we do not have the knowledge and expertise to carry out the exploration and production on our own. We have no way of even knowing when we are short-changed. So why peg the Naira against the Dollar or against any currency for that matter? Why not allow our currency find its level within market fundamentals, permitting only minimal regulation in the country’s best interest?
Kay: Interesting stuff! Brilliantly articulated! Listening to you reminded me of Dr. Victor Odozi, one time Deputy Governor of the Central Bank of the Nigeria when the Babangida administration introduced SAP (Structural Adjustment Programme) in the mid 80’s. You also reminded me of the economic wizards in the Obasanjo administration when they sold us privatisation and deregulation. You do remember that the Naira was once stronger than the Dollar. However, since the 80’s, there has been an incremental devaluation of the Naira. Odozi predicted in 1986 that with devaluation, the forex market would be just like other market having free sellers and buyers. At that the exchange rate was less than one dollar to N10. Today, at one dollar to N200, the story remains the same. At every point, the argument has always been the same – growth, job creation, etc. In the first 16 years of this democratic dispensation, three different presidents of the PDP (Peoples Democratic Party) administration had packaged the same thing in different formats, but the country has only witnessed likely jobless growth. We might as well try something different.
Tee: It wouldn’t be fair to say there has been no growth. There has been growth, 6-7% for more than a decade under the PDP.
Kay: Mere statistics. We didn’t see the impact of the much celebrated growth in the human condition.
Tee: The problem is us, you and me. We’ve allowed our country to become a dumping ground for every product under the sun. We import rice and chicken and clothes. When I was growing up in the 60’s and 70’s, rice used to be only on our Sunday menu. Uncle Ben’s rice that was imported at the time was only affordable by the very rich. Today we consume rice imported from many countries in Asia. That is our foreign reserve. Look at the clothes we, all, are wearing. They are imported. Our shoes and wrist watches are imported. Our cars are imported. We so love champagne that we are said to be one of the highest consumers of the product globally. We eat our foreign reserve as rice and chicken, drink it as choice wine, wear it as clothes and shoes, drive it as cars, and fly in it as private jets. We cannot continue to live recklessly and not pay the price one way or another.
Kay: We have been unable to feed and clothe ourselves because of the very policy you are espousing. It is the periodic devaluation of the Naira over time that has made it cheaper to import than to produce here. That was the reason all the thriving textile factories of the 70’s and 80’s in Kaduna and Kano had to close down. That was the reason the Peugeot Automobile of Nigeria and Volkswagen Nigeria could not continue to assemble their brands in the country. That is the reason most Nigerian money men in Corporate Nigeria are no more than traders and rent seekers.
Tee: The issue you’ve raised has nothing to do with Naira devaluation. It is a problem of law and order. If there’s a restriction or prohibition on the importation of rice and chicken, how do these products find their way into the country? It is a question of law and order. How do banned textile materials and furniture equipment flood the Nigerian market? It is an issue of law and order. It is not enough to attribute to smuggling, the ready availability of banned products in the country. Rice and chicken and textile materials and furniture are not smuggled using a man’s wallet or a woman’s handbag. They are smuggled in with heavy duty trucks. Which serious country allows its territory to be turned into a dumping ground for all manner of goods in the name of smuggling? How many Customs officers have been arrested, prosecuted and convicted for aiding or conniving with smugglers? Why do men and officers of Customs bribe their way to be posted to border posts?
Law and order is perhaps the country’s biggest problem. When politicians and government officials have lined up in their garages between 10 to 20 SUVs, the cost of which is clearly above their legitimate income, it is an issue of law and order. When those elected to serve us, after four or eight years in office, buy properties in London and Washington DC and Cape Town and Dubai, in addition to their mansions in Lagos and Abuja and their country homes, it is an issue of law and order. Were all those properties measured against their tax assessment forms and necessary questions asked, they would think twice before embarking on such primitive acquisitions. Why should the resources of the country be deployed to subsidize the rich?
At the end of the animated debate, Tee could not persuade Kay to buy into the Naira devaluation formula. Both, however, agreed on one thing – there is an urgent need to give law and order a fresh approach. For me, I return to the original question, should the Naira be devalued or not, dear reader?

'End of the American Empire'

The epithet crude Americans use to disparage a woman is “Bimbo”, as Donald Trump memorably referred to Fox anchor Megyn Kelley. Stephan Richter now reminds us that it’s an Italian abbreviation for bambino, a male child. A girl would be bambina. And yes, we have a bimbo running for president. It is just a little early to say whether Trump has finally crumbled, but it is good odds that he will not have enough delegates going to the Cleveland July convention to have the nomination locked up. Thus, it will be the first brokered convention in 60 years. Delegates only need to support the candidate to whom they are pledged on the first ballot. On the second, the bosses weigh in. They are unanimous in believing that not only is Trump ruining the Republican Party, but that he would lose in a big way to Hillary Clinton. They do not like Senator Ted Cruz either — but he is electable and certainly no buffoon. He has had a strategy from the first — different from a bimbo bawling words like a 2-year-old crying out for whatever he thinks first, changing sometimes, daily. Cruz has been lining up delegates chosen in state party caucuses, chosen by various means, not always including votes. There is a far larger issue looming behind us Americans. Trump is only too evidently a symptom of a failing United States. 
The only Muslim majority country still “liking” us is tiny Albania, but then, we had a hand in its birth as a nation in its present form. How could Muslim countries admire us any longer when a candidate openly espouses hate for Muslims — of whom there are, by the way, three million law-abiding citizens in the US. Ambassador Chas Freeman, a distinguished Sinologist and an old friend, recently voiced the totality of these reactions in an address, now published. Chas recently made waves when my friend, Admiral Blair (who keynoted your prime minister’s conference on “Moderation”), as director of national intelligence at the White House, appointed him to be head of the National Intelligence Council. AIPAC — the Israeli lobby — created such a stink that Chas removed himself from the nomination. He had the temerity to say openly that the US should base its foreign policy on our interests — not Israel’s. “The End of the American Empire” starts with an analysis of why everything is going wrong for us. To start with, we lecture the world about how to be good little Americans, then wonder why there is so much resentment. After we won the Cold War, we gobbled up much of the ex-Soviet satrapies into our alliances. Then, we cannot understand why Russian President Vladimir Putin reacts — and uses clever diplomacy to push us back everywhere he has enough leverage. And then, how is China supposed to react: we have it surrounded by our fleet and allies, where we base vast forces. China builds some airstrips in what’s long been called the South China Sea, and we re-ignite our alliance with the Philippines and start pushing Chinese ships around. On this one, Chas may have gone a bit far, but surely everyone agrees that Beijing has strategic interests in the region. “Small wonder that both US allies and adversaries now consider the US the most erratic and unpredictable element in the present world disorder… and you can’t expect to accomplish much by launching wars and then asking your military commanders to figure out what your objectives should be.” Chas bemoans our failure to see that the terrorism we now see as our biggest challenge is self-created.
 Our wars may have killed two million Muslims. No reaction? Barack Obama got world attention when he argued, in late 2002, that a baseless attack on Iraq would make that country a breeding ground for terrorists, but he continues now to think a few more drones will solve our problems. Americans like to see ourselves as peace loving democrats. We forget our warlike history. We all, but, wiped out native Americans, invaded a variety of countries in Latin America, killed a few hundred thousand Filipinos (“to bring them Christianity”, the then-president said, apparently ignorant of the fact that 85 per cent were already Christians), and the list goes on. But, we were, for many, a “light on the hill”, and Irish, Polish, German and Italians came to seek a better life. They succeeded. Right now, with the legislative branch in paralysis, even unable to deal with a nomination to the Supreme Court, with governance reduced to Obama’s skillful use of executive prerogative, we just are not in a position to offer advice anywhere. We might start by backing off, learning from this worst phase of our history, and refocus on our core values. As in the Hippocratic Oath, to paraphrase — first, do no harm. And, we might add, heal ourselves. 

W. Scott Thompson is professor emeritus of international politics, Fletcher School of Law and Diplomacy, the United States

Tuesday 12 April 2016

Why Zuma's ‘African way’ is at odds with the African Union's vision

Joleen Steyn Kotze, Nelson Mandela Metropolitan University
South Africans are mobilising against what they see as an inherently corrupt president. The international community has also joined in the clarion call for his resignation.
Corruption, state capture, and scandal lie at the core of demands for President Jacob Zuma to go. The dominant narrative is that he has acted in only his self-interest with little regard for the country.
Yet Zuma survived another impeachment motion in parliament with full support from the governing African National Congress, the party he leads.
In the midst of the mounting pressure, Zuma has urged that African problems be dealt with “in an African way”. He told supporters:
I’ll be very happy that we solve the African problems in the African way because if we solve them only legally they become too complicated. Law looks at one side only, they don’t look at any other thing … They [the courts] deal with cold facts and I was complaining [about] that, but they’re dealing with warm bodies. That’s the contradiction.
But, what exactly is the African way?
A cursory glance at the African Union’s Agenda 2063 shows the importance of institutions underpinned by principles of accountability and good governance. This entails transformed institutions and a new way of governance, accountable to the people.
Indeed, the African Union stresses that:
we recognise that a prosperous, integrated, an united Africa, based on good governance, democracy, social inclusion, respect for human rights, justice, and the rule of law are the necessary pre-conditions for a peaceful and conflict-free continent.
This recognition stems from having “learned from our past”. As a result there is a pledge to “take into account the lessons” as Africa embarks on Agenda 2063.

Africa’s seven aspirations

By signing up to Agenda 2063, African countries – including South Africa – commit to advancing socio-political and socio-economic transformation. The agenda captures seven aspirations of the African people:
  • A prosperous Africa based on inclusive growth and sustainable development;
  • An integrated continent, politically united. It should be based on the ideals of the Pan-Africanism and the vision of the African Renaissance;
  • An Africa of good governance, democracy, respect for human rights, justice, and the rule of law;
  • A peaceful and secure Africa;
  • An Africa with a strong cultural identity, common heritage, values and ethics;
  • An Africa where development is people-driven, unleashing the potential of the its women and youth; and
  • Africa as a strong, united and influential global player and partner.

Civil society demanding accountability

As civic pressure mounts for him to resign, Zuma’s stance of dealing with African problems in an African way cements notions that constitutional principles of good governance and accountability don’t always apply to African presidents. Or, if they do apply, they only do so in certain instances.
Growing civic mobilisation against Zuma demonstrates the opposite. It shows that Africans will move to hold leaders accountable when they act improperly or undermine their constitutional obligations.
There have been numerous instances of this happening across the continent. We have seen large scale mobilisation of young Africans against presidents-for-life, corruption and stalled development.
The Black Monday Movement mourns the loss of billions through corruption in Uganda. Using rhythm and rhyme Senegal’s hip hop movement, in concert with political parties and other social movements, successfully blocked a presidential third term. They mobilised people when former president Abdoulaye Wade lost touch with Senegalese aspirations.

Undermining South Africa’s leadership

Agenda 2063 commits African leaders to pursue a people-centred and transformational leadership. It demands that leaders be held accountable for failure to abide by constitutional limitations on power or for corrupt activities. It recognises that leaders who act with impunity when breaking the law become a liability to the continent’s aspirations.
If the ANC ignores the calls for Zuma’s resignation it may undermine South Africa’s leadership on the continent. It creates the idea that, if South Africa’s president can undermine the constitution with impunity, accountability and good governance may be ignored for personal political goals.
It raises questions on what basis South Africa will be able to condemn similar behaviour of other African countries. More importantly, it limits South Africa’s moral capital to advance the vision of Agenda 2063.
The Conversation

Joleen Steyn Kotze, Associate Professor of Political Science, Nelson Mandela Metropolitan University
This article was originally published on The Conversation. Read the original article.

A reset for Nigeria-South Africa relations


With a population of about 53 million people and a GDP of close to 350 billion US Dollars, South Africa is considered as a buoyant economy. Additionally, as an emerging economy with requisite technological know-how, South Africa will by all means represent a suitable partner with Nigeria in our quest for growth and national development. With the precarious economic situation of Nigeria arising from fall in oil prices, the seeming renewal of economic cum diplomatic relations between Nigeria and South Africa will greatly impact positively on the country.
It is therefore illustrative that the South African President Mr. Jacob Zuma’s state visit to Nigeria in company of over 150 businessmen and potential investors is instructive. Nigeria as a country is in a situation where in her bid to diversify her sources of revenue, is exploring other areas, especially manufacturing, mining and agriculture. Incidentally, these are the major areas of the emerging economic blueprint of the President Muhammadu Buhari administration and they are in tandem with the capacity of South Africa as a potential partner to deliver to Nigeria.
There is no doubt that President Buhari’s economic blueprint for Nigeria which will include eliminating bottlenecks to businesses and offering incentives to foreign investors is beginning to yield desired result. Our reset with South Africa wherein her President led some of the country’s biggest businessmen on a state visit to Nigeria signposts a new dawn in our bilateral relations with South Africa.
Since 1999 the number of major South African companies operating in Nigeria has risen to about 120. What this translates to is that both countries’ relations have become more robust and has the potential to improve. It is estimated that at least eighty bilateral agreements have been signed by both countries to boost trade, investment and diplomatic relations.
Nigeria with a population of about 173 million people and gross domestic product of nearly 521 billion US Dollars offers the South African businesses a huge market for her products and services.
It is equally remarkable that the South African government is offering its support to Nigeria in the war against terrorism. Already, Nigerian defence officials have signed agreement with their South African counterparts for the deployment of that country’s Special Forces to assist in the war against terrorism.
This reset of bilateral cooperation appears to be a reciprocal action for Nigeria’s many decades of support to South Africa especially during the years of anti-apartheid struggle. Gladly, the South African president during his address to the joint session of the National Assembly had acknowledged the role of Nigeria in helping his country in their years of struggle for emancipation from the clutches of apartheid.
It is also pertinent to note that the new interest being developed in Nigeria by South Africa is easily traceable to political and economic reengineering being carried out by the President Muhammadu Buhari administration. The openness and sincerity the president has brought to bear in statecraft has greatly restored the confidence of the international community to Nigeria.
South Africa as a country is famous for its advancement in technology. In this regard, Nigeria stands to benefit from South Africa’s experience in mining, auto assembly, metal work, machinery, textiles, iron and steel, chemicals, fertilizers, foodstuffs and commercial ship repairs. It is worthy of note that South Africa is the world largest producer of platinum and chromium.
In the desire of the Buhari administration to diversify Nigeria’s economy, there is no doubt that South Africa’s time-tested knowledge in mining will be of immense value and advantage to Nigeria. With the visit of South African President to Nigeria, and considering their huge investments in Nigeria, it is expected that on the basis of reciprocity, that measures will be put in place to balance trade between both countries as well as strengthen their diplomatic relations. President Buhari’s strategy of exploring new business and diplomatic channels for our overall national development should indeed be commended, and given all necessary support.
President Zuma’s visit also afforded both leaders the opportunity to iron out issues surrounding the incessant molestation of Nigerians resident in South Africa. These attacks on innocent Nigerians by their South African counterparts are seen in many quarters as xenophobic, and all efforts should be made to address the problems that may likely provoke such emotional hatred and outburst.
Nigeria’s partnership with South Africa ought to be anchored on mutual respect, love and understanding. Similarly, the visit afforded both leaders the opportunity to iron out differences on the issue of the fine against South Africa’s MTN by the NCC. Hopefully, the message will be delivered on the need for MTN and indeed other companies operating in Nigeria to obey the laws of their host country by abiding with the regulations in their respective sectors. It needs no telling that such acts of omission or commission tantamount to a breach in our national security as they undermine our economy and by extension the political stability of the nation.

Insecurity: The future of the Nigerian child By Rahab Tosal Ayuba

Over the last few years, people from all parts of Borno state have been converging in the state capital. Most of the local government areas have been sacked by the boko haram insurgents, making thousands of residence to troop into the state capital, an incident that marks the proliferation of IDP camps in the state capital.
A tour on this IDP camp, Dalori camp clearly indicates the unfortunate story of these IDPs; stupefied by the looks of dejection and hopelessness on the faces of the IDPs especially the children. One begins to ask questions if children are really the leaders of tomorrow or human lethal weapons.
In a country that is threaten with violence, insecurity, insurgency, insurrection and deprivation, children are the most vulnerable members of society as they now loitered the streets as orphans, as victims of man’s inhumanity to man; that killed their parents, abduct their siblings and destroyed their homes.
The right of children in Nigeria as in all countries of the world; to educate, healthcare, time to play are not being fulfilled and fear interventions exist to protect children. Walking through different Internally Displaced Persons IDP’s camps in Maiduguri, the capital city, the hot spot and birth place of Boko Haram in 2009, leaves one with nothing but tears. These children are allowed to wonder the streets scavenging for food, this make them prays to all sorts of abuses.
To be realistic, how many IDP’s camps do we have in Nigeria? How many orphans do we also have? Please, who owns this child; His parent or the society? When a child is an asset; he belongs to the society. But, when a child is a liability; he belongs to his parent. The devastating effects of insurgency this country is going through has not only increase the number of street children and orphans but has post a threat to the future security of our country, when these talents are not harness, but wasted they may turn out to be tomorrow’s insecurity.
National Emergency Management Agency NEMA, said, more than three million people have been displaced as a result of insecurity among who mostly are children and women. The site of a mother with her two children living under a polythene tent along the street gives one sleepless nights, a course to wonder ‘what next after the IDP camps!’
When violence of war or conflicts of any kind strikes, people die; both the young and old are wasted, many more are brutalised, maimed and injured. Houses, schools, offices and stores are not left out. While looters enjoy the ill-gotten wealth, women and children are always the worst victims.
Insurgency and abuse can have serious and permanent effects on the child thus not only slowing down any progress or development of the child, but also not allowing the full exploration of potentialities available giving prominence to mediocrity at the expense of excellence.
What can be more brutal or more evil than the adoption of more than 200 Chibok school girls in 2014 and the killing of harmless students by the Boko Haram! How can there be education if there are no people to receive education? This strikes at the very foundation of education. Students and pupils that are lucky to escape such brutality may be marred physical or psychological for life.
Image for a moment those young boys and girls kidnapped from schools by insurgents to be used as human shields, chips for ransom bargaining, sex slave, boy soldiers or sold on tightly as slaves. What can be more evil? The effect on children is just staggering and mind boggling.
All these atrocities have been committed on students, in Mamudo, Potiskum, Gujba and Damaturu in Yobe State, Chibok in Borno State. Sadly,the effect on education is terrible, retrogressive, destructive and damaging to the overall human progress and development of an already very backward and poor zone.
Painfully, the horrible effect of insecurity on children is the financial or economic incapacity of individuals, families, communities and government. With wars and conflicts raging mercilessly and incessantly, economic activities cannot function let alone thrive. Scarce economic resources cannot meet up with such daunting challenges. Providence of shelter, food, medicationand education are indispensable prerequisite for children’s wellbeing. But,parents can scarcely take care of their children’s basic survival needs talk more of education as it can be seen in various camps of Internally Displaced Persons (IDPs). Many of the children have been orphaned completely. No father, no mother, no body to care for them. The few philanthropists and kind hearted sympathetic individuals or organisations that offer assistance are overwhelmed.
Security challenges whether insurgency, insurrections, sectarians or communal/tribal conflicts, religious conflicts or war, kidnapping, robbery and the likes hinders the children progress and development as they cannot have a fulfilled life. They cannot explore and exploit to the maximum all the potentials of greatness and success endowed in them by their creator for the development and advancement of mankind to greatness, progress and peace for all. The greatest and most important factor in the quest for such a most ideal and egalitarian society is education and is unfortunately the first casualty where there is insecurity.
One cannot but mention MalalaYossouf of Afghanistan who sought for education in the face of death. Nor can one forget the zeal and determination of the students and pupil struggling to acquire education in Yobe, Borno, Adamawa, Bauchi, Gombe states and indeed the country at large.
The depressing rate of poverty in Nigeria needs to be addressed to secure a better future for the children of the next decade. Efforts to reduce poverty must be carefully designed and must go beyond setting up agencies whose effect are hardly felt, Give the child a home; a bed pillow to rest his head, a shoulder to cry on, an arm to embraces him, and a heart to care for him. Give the Nigeria child a hope.

Monday 11 April 2016

The lost girls of Nigeria

The lost girls of Nigeria
After two years of fruitless search for over 200 girls [most of them must be women now] abducted from Government Secondary School, Chibok, Borno State, Nigeria, there is little hope they would be united with their loved ones ever again. May their parents be comforted – I don’t expect them to read this anyway. But I know they, too, must have given up hope. At least a dozen of them have died of heartbreak.
The failure of the #BringBackOurGirls crusade is Nigeria’s failure and the Nigerian government’s failure. The Nigerian people have failed. Mankind has failed. It’s a big shame. Shame on all of us! Nobody should ever claim victory over Boko Haram – the terrorists have won the war they waged on Nigeria. How can anyone claim victory when over 22, 000 people are dead, almost 3million homeless and 100 million others traumatised? What happened to all the technologies ever invented? Where have the “advanced” nations that promised to help us locate and rescue the Chibok girls gone? What has Nigeria’s security votes achieved?
Before Chibok, there was Buni-Yadi where almost 60 students were slaughtered in their hostels like chickens at night. Hours before the Chibok abductions on April 14, 2014, Boko Haram bombs had killed over 150 innocent people at Nyanya, 8km from Aso Villa. After Chibok, there was Agatu – over 400 people were killed. Nowhere else in the world is life cheaper than in Nigeria. In fact, a campaign for population control is not necessary here; evil people are doing the job nicely. In Nigeria, it seems, government exists for the few rich and powerful and cares little about the poor. There is no law or order. It’s everyone for himself.
Whenever I remember the Chibok girls/women, my heart skips several beats. Perhaps it’s because I’ve been a victim of violence too. I lost one of my parents to thugs in military uniform. The following year, dozens of healthy-looking young men from my community were rounded up like the Chibok girls and taken away; they never returned. On the night of April 22, 1991, I narrowly escaped death (but some relations and friends did not or lost their property) in Bauchi during the Tafawa Balewa crisis. When I noticed the presence of armed bandits in my residence, three years ago, I called the police but nobody showed up; the robbers shot us and escaped with our belongings; nobody is looking for them. In each of those cases, the government of my country simply failed me – it acted as if it didn’t exist or I didn’t matter.
When people like Governor Ayo Fayose of Ekiti State say the Chibok kidnap never happened and that it was arranged to achieve a political objective, they provide a soothing balm to souls living outside Chibok. Indeed, I get some relief on hearing such, for it’s better to believe it never happened. Perhaps, the girls and the school authorities were briefed in advance. The girls were then moved in the dead of night to a nearby airfield where a large plane was waiting. Then, they were taken to a comfortable guest house in Mali or Libya or Chad. When all the noise had subsided, they were quietly returned to their parents and warned to not divulge what happened. After all, in war times, the first casualty is the truth.
How I wish that’s what happened! For anyone who has not met a Chibok parent (like me), such fiction could serve as a tonic. Yes, many had some doubts at the beginning: How could several buses or trucks have entered the school and taken 276 girls undetected even by soldiers of the JTF? Which houses did the terrorists build inside Sambisa Forest to accommodate so many girls? A woman who wasn’t a parent of any of the girls was the first to present herself at Aso Villa. Even President Jonathan and his wife were said to have disbelieved the story until three weeks later.
But what is the reality? Whatever doubts I had were cleared when I learned that the area known as Sambisa Forest is the size of Benue, Enugu and Ebonyi states put together! This is a very vast country, and that partly explains why many places are neglected. And those neglected areas are often the breeding grounds for all manner of criminals. Shouldn’t Sambisa Forest now be leased to serious farmers from Israel, India or Singapore so they could transform it to a huge agric site?
The “Bring Back Our Girls” (BBOG) campaign group really worked to bring the Chibok abductions to the world’s attention. It’s a pity the organisers have not, and may never, succeed in their crusade. However, we cannot disregard the patriotism shown by Mrs Maryam Uwais, the originator of BBOG. She brought in Hadiza Bala Usman and Laila Jean St. Matthew Daniel, who coined the hash-tag #BringBackOurGirls. Mrs Oby Ezekwesili, the presumed leader of the campaign, was later contacted in order to make BBOG look national. Then followed Rabi Musa Abdullahi, Fatima Wail-Abdurrahman, Ejike Oji, Nene Lanval, Nguyan Feese, Rabi Isma, Aisha Kabir Mukhtar, Chidi Odinkalu, Auwalu Anwar, Aisha Oyebode, Yusufu Pam, Mata Abdurrahman, Dr Hakeem Baba-Ahmed, Saida Sa’ad, Toberu [Lanval] Dada, Mairo Mandara, Rabia Shak, Dianne Marcus, Yemisi Ransome-Kuti, Hadiza Aminu, Hannatu Musawa, Khadija M. Asuquo, Ndidi Nwuneli, Muftah Baba Ahmed, Josephine Anenih, Yaiya Talib-Sani, Ireti Kingibe, Asmau A-Alhaji, Halima Khabeeb, and Mairamu Isma. Those who helped them with finance deserve kudos also.
Will the BBOG mark the second anniversary this Thursday? What is left is for the crusaders to persuade government to build a monument in honour of the lost or missing girls somewhere in Chibok. Mock coffins, each bearing the name and picture of a stolen Chibok girl, scattered in a well-maintained park would provide one more tourist site in the country. For years to come, visitors to the site would be told the heart-rending story of 219 innocent girls that Boko Haram snatched from their school while they were taking their final exams on April 14, 2014.
That the tragedy happened at all and that the girls were not rescued convicts all of Nigeria’s security and intelligence agencies. I have said it before: any kobo spent as security or defence vote here is wasted. Just as policemen don’t respond to distress calls, our SSS men hardly leave their air-conditioned offices to gather useful intelligence. Yet, if we accept that Sambisa Forest and hundreds of other neglected places are within Nigerian territory, they should be protected and catered for. There is need to take government to the grass roots. We can’t concentrate all amenities in a few cities – no city is well-served anyway – and then claim that all is well with Nigeria.

When will Nigeria fight the corruption of need?

When will Nigeria fight the corruption of need?
AYO SOGUNRO
Last week, the world was treated to the leak of what has come to be termed as ‘the Panama Papers.’ It was the story of a systematic money laundering service involving public officials and politicians around the world. A few African politicians such as Bukola Saraki and James Ibori, were affected, but these ones had already been indicted in their countries.
Still, the relative sparseness of Africans in the scandal does not mean that our leaders are mostly honest. It only implies that they do not have the means or the anxiety required to hide money through sophisticated channels.
Every region of the world has corrupt politicians. Yet, some countries seem to have developed in spite of corruption while others are practically crippled by it. This point requires layers of historical and social analysis. But from, at least, a postmodern perspective, every country is corrupt: with the difference that developed countries have dealt with the corruption of need, while underdeveloped countries keep blaming the corruption of greed.
The corruption of greed is, simply, the theft of public resources. Much like petty theft and armed robbery, it is an exploitation of weaknesses in any political or economic system. This is the type of corruption that worries President Muhammadu Buhari and commentators such as, Professor Itse Sagay.
Yet, the corruption of greed is relatively easy to resolve. Much like any other crime, it requires an efficient and automated policing and criminal detection system, a well-equipped prosecuting office, a non-partisan executive administration, and an independent judiciary. We lack all these in Nigeria.
More importantly, crime fighting requires that the citizens have a strong sense of social justice. Yet, it is difficult to generate a sense of social justice in a society where the corruption of need thrives. The corruption of need is not as clear-cut as the corruption of greed—which is why it eludes a lot of seemingly sensible Nigerians.
This type of corruption is the aggregation of the negative consequences of inequalities in a society. It is generated by conflicts between the legal obligations in a dysfunctional political or economic system and the natural instinct for self-preservation from the unjustifiable adverse effects of that system.
This is better illustrated than defined. For example, because the President can discretionally exempt any person from the application of taxation and business laws, it is expedient for citizens to aspire to “friendship” of the president rather than be subject to those laws. Because a governor’s convoy can clear traffic automatically, it makes more sense to have access to the convoy than join regular citizen in obeying traffic laws. Because administrative procedures (from passport applications to land registration) are fast-tracked for high-ranking politicians, it is practical to have a politician in one’s reach. When the wife of the president visits a state and all movement is stopped to keep the roads open, it is very convenient to be her friend on such a day.
The majority of Nigerians who cannot attain these friendships of patronage either suffer the consequences of being regular citizens or pay in cash and kind to achieve these same privileges. These payments—often made to get the service that citizens ordinarily deserve—are called bribes. Multiply these bribery scenarios by a hundred million people and you can see how the corruption of need permeates a society. This is the real corruption, and it arises from social inequalities embedded within the political and economic system.
When citizens observe these inequalities in the system, it is difficult to motivate them to a sense of social justice. It is, instead, more sensible that they align with politicians whose clout can elevate their status within the system—even if those politicians have been accused of the corruption of greed.
It is, therefore, easy to see how the corruption of greed depends on the corruption of need. Mr Bukola Saraki refuses to resign from his position because he is strengthened by the corruption of need. He has supporters who will support him unconditionally in order to secure their stake in the patronage system. The same principle applies to other politicians: their success in Nigeria depends on the continued corruption of need.
President Buhari has not shown any intention to tackle the corruption of need. Such a campaign will require him—and other politicians—to step down from their pedestals and become equal with the average citizen. Public officials will lose their autocratic authority. The rights of every citizen will come before the privileges of office. But, in a political system where governors can keep a convoy of 10 cars, slap their staff and insult traders, fighting the corruption of need is a hard task.
It is easier, and self-serving, for President Buhari to focus on the corruption of greed. The money recovered from previous looters ensures funding for the privileges and inequalities enjoyed by new administrations. It is, therefore, disingenuous for the president to suggest—as he keeps implying—that the economic fortunes of the country are tied to the fight against the corruption of greed. This type of reasoning suggests a deficiency in economic theory at best, and a lack of creative thinking at worst.
Serious governments don’t wait for scandals like the Panama Papers to fine-tune their economic policy. A country’s economy should be dependent on productivity and not access to loot. A house owner—or president—whose primary economic agenda is dependent on catching thieves will be heading a house of perpetual poverty.
It is good for us to catch looters. Hopefully, this will inspire a sense of social justice and stimulate productivity. Still, the inequalities and wastage encouraged by the corruption of need are directly responsible for the suffering of ordinary citizens. Buhari’s government has to tackle this if it really wants to inspire Nigerians. Otherwise, as a friend says, we might as well cut to the chase and appoint the EFCC Chairman as the Co-ordinating Minister of the Economy.

Sunday 10 April 2016

OPINION: Panama Papers and the lessons of Watergate BY Alicia Shepard

IMG_Tax_Haven_USA_11_1_RQE03CJT.jpg_20160407.jpg
Imagine the movie. A reporter gets a query from a mysterious source promising information so damning it could lead to a head of state resigning. The source insists on anonymity.
Sounds like what just happened in Iceland this week. The prime minister resigned amid a spate of reports on the so-called Panama Papers, triggered when a German reporter was offered 11.5 million documents pilfered from a Panamanian law firm that specializes in secret offshore services.
The events mirror what happened in the iconic journalism film All the President’s Men, which debuted in theaters nationwide 40 years ago Saturday. The movie spins the tale of two young Washington Post reporters — Bob Woodward and Carl Bernstein — who with relentless sleuthing and the help of a famous anonymous source, Deep Throat, uncovered evidence that forced President Nixon to resign in 1974.
While the reporting duo wrote a 1974 book of the same name, Woodward and Bernstein and the Washington Post truly catapulted to fame with the 1976 movie starring Robert Redford as Woodward, Dustin Hoffman as Bernstein and Jason Robards as Post editor Ben Bradlee.
The blockbuster movie turned the pair into national celebrities, earning them attention previously unheard of for most journalists. On TV, in magazines and on the speaking circuit, they were often introduced as the two men who profoundly and permanently changed journalism.
All the President’s Men drove a generation of Woodstein wannabes into journalism and became standard fare shown at journalism schools. It still holds up as one of the best films made about the craft of journalism and just how risky investigative journalism can be.
“We’re under a lot of pressure, you know, and you put us there,” Robards says in the film to the twentysomething reporters. “Nothing’s riding on this except the, uh, First Amendment to the Constitution, freedom of the press and maybe the future of the country. Not that any of that matters, but if you guys f--- up again, I’m going to get mad. Good night.”
The movie was Redford’s idea. He was drawn to the contrast between Woodward and Bernstein.
“They couldn’t be more different,” Redford told me. “Bernstein was radical, Jewish, intellectually inclined, very liberal. Woodward was bland, boring, a WASPy Republican. How in the hell could they work together? The tension intrigued me.”
Redford had a clear vision that this film would reveal the mysterious world of investigative reporting. He wanted the public to understand the rigors of investigative journalism, to show how meticulous reporters need to be, how many dead ends they pursue, and how repetitive, sometimes downright boring, investigative reporting could be.
He promised the reporters, who went along reluctantly, that he’d make a serious movie about reporting, not a flashy Hollywood movie about the shifty Watergate figures surrounding Nixon or a screwball comedy about newspapers.
He succeeded.
The movie educated my generation on the need for documents and the importance of following the money — much like Spotlight, the 2016 Oscar-winning movie aboutThe Boston Globe’s investigation into the Catholic Church’s disastrous sex abuse scandal and coverup, is educating this generation.
The good news is that investigative reporting, thought to be moribund in the new digital order, is enjoying a resurgence. Investigative teams at Buzzfeed and Fusionare the most recent digital ventures. ProPublica, the Center for Investigative Reporting, the Center for Public Integrity, the Marshall Project and TheTexas Tribune, among other non-profit investigative outfits, are all noteworthy digital muckrakers.
Just this week, the importance of shining a spotlight on corruption was highlighted, with the massive data drop and reporting project shepherded by the International Consortium of Investigative Journalists (ICIJ), another non-profit.
The ICIJ managed to closely collaborate with 400 reporters working for 100 media partners around the world to handle the largest data leak in modern history — and keep it secret for a year. They revealed how high-profile heads of state, celebrities, athletes and public officials across the globe managed to launder billions of dollars, evade taxes and avoid sanctions through the Mossack Fonseca law firm in Panama.
This project is as exciting and pioneering as the Post’s Watergate coup. How the ICIJ pulled off one of the most stunning investigative reporting collaborations in history not only portends well for the future of journalism, it also would be a movie as worthy asAll the President’s Men.
Mr. Redford, are you listening?
Alicia Shepard, a former NPR ombudsman who recently spent two years in Kabul working with Afghan journalists and the U.S. Agency for International Development, is the author of Woodward and Bernstein: Life in the Shadow of Watergate. Follow her on Twitter: @Ombudsman

Saturday 9 April 2016

Financing our future BY Kemi Adeosun

Financing our future
Mrs. Kemi Adeosun
Writing this, my third article on the economy, I’m keenly aware that the question Nigerians want answered is: what is government doing to address our economic challenges?
The first thing to state is that there are no quick fixes, but our strategy is clear and the expected outcomes are pretty compelling. Our immediate economic imperative is to provide a Keynesian stimulus to reflate the economy. The 2016 focus is underpinned by a desire to radically reposition Nigeria’s economy. This administration believes very strongly that the previous direction was far from optimal. We are pursuing a fresh direction consistent with our belief in building a resilient economy.
The strategy itself is worth reiterating. The 2016 Budget is being debt funded and the borrowings are targeted at the financing of capital projects to address the infrastructure deficit, create jobs and build the platform for optimisation of the non-oil economy that will see Nigeria prosper. To this end, we have commenced an aggressive programme of fiscal housekeeping: increasing revenues and reducing recurrent expenses. This will ensure that we move towards our objective of financing recurrent expenditure from revenue, rather than borrowing as obtained before now.
In addition, we have signalled through our financial decisions that we are moving away from oil. Government investment in oil will be limited. We are inviting private sector participation in the funding of cash calls for our Joint Ventures rather than tapping the Federation Account. This is guaranteed to improve our cash flow. As I have stated previously, oil is important but oil is not enough. Therefore, if faced with an option to invest borrowed funds in our railways or power or fund oil cash calls, we will strategically fund non-oil. This is in the knowledge that there are private sector solutions to the funding needed for oil, but few sources other than government for investment in physical infrastructure.
The debate about whether Nigeria should borrow is well intentioned and cannot be dismissed without careful analysis, given our antecedents as a nation. I am in agreement with those who argue that Nigeria should not borrow simply because its debt to GDP level is low enough to accommodate such borrowing. There must be a clear business case backed by justifiable benefits. I believe that Nigeria has such a case at the present time. Simply put, we need capital investment to grow our economy. At 13% debt to GDP, we compare favourably with the threshold of 30% for developing economies. Our low debt to GDP ratio is not exactly a positive attainment because it is accompanied by critically low level of infrastructure investment. It is actually a false economy. Low capital formation is a risk which, if uncorrected, hinders future economic growth and this is already evident.
Borrowing, as we propose, will increase debt to GDP to 16% and still leave us significantly lower than our peer group including Ghana at 70%, South Africa at 50% (2015) and Angola at 31% (2014). Appropriate levels of fiscal deficit have been used to grow many of the most successful global economies.
Economic multiplier effect
As ours develops, our sources of revenue will grow, diversify, and become less susceptible to external shocks. Our need to borrow will reduce accordingly. It’s important to note that capital spending creates an asset, and this gives a return over time in the form of growth. Infrastructural projects such as rail and roads create jobs, generate taxes and stimulate further spending. This is the economic multiplier effect that capital spending brings. Therefore, while an increase in public spending may create a deficit in the short term, the resultant increase in productivity will lead to a higher rate of economic growth and greater tax revenues. According to the International Finance Corporation (IFC), for every one billion US dollars invested in infrastructure in developing economies, between 49,000 and 110,000 jobs are created.
Our borrowing policy will remain conservative and will see us access the lowest available funds, hence our decision to approach multilateral agencies in the first instance, for budget support at concessional rates as low as 1.5% per annum. We have also secured commitments from Export Credit Agencies that are tied to specific capital projects including key initiatives in power, transport and other infrastructure, and at semi-concessional rates. The balance will be sourced commercially to create a blended cost of capital that’s as low as possible. We are addressing the relatively high debt service to revenue ratio which saw 28.1% of our 2015 revenues devoted to debt. This will be done through a systematic restructuring of inherited debt portfolio into a profile that is aligned with our medium term outlook as well as an increase in our revenues.
Borrowing is not our primary focus. Increasing our Internally Generated Revenue is critical because it is sustainable; and because much of the funds collected went unremitted to Government – something we are tackling now.
Revenue collection processes
Our Revenue Team holds daily revenue sessions with MDAs during which clear targets are set and agreed; monitoring and evaluation are continuous. We are deploying cash-less revenue collection processes in our high earning agencies to ensure maximisation of our receipts. We are working through Treasury Single Account balances with a view to identifying monies that can potentially be used to fund the budget and reduce borrowing.
Other costly leakages are being blocked. We have completed a detailed review of tax and duty waivers and discovered that in some cases, Nigeria lost significant revenues and with limited benefits. We are set to begin consultations with stakeholders on a revised policy aligned with the best interests of Nigeria.
Furthermore, we are identifying funds that can be released from hitherto untapped sources, including idle and underutilised government assets that have commercial potential including real estate. To this end, Ministry of Finance Incorporated (MOFI) is to become a professionally operated Asset Manager, rather than a passive holder of government assets. It will be actively managed to ‘sweat’ Nigeria’s very valuable global asset portfolio. This will generate earnings and constitute additional budget funding.
Gradually and with the requisite safeguards, we will authorise the investment of part of the estimated N6Tn currently held in pension funds into key infrastructure that will provide workers with higher returns on their pension funds while enhancing capital formation and economic growth. Nigeria’s first ever Project Tied Infrastructure Bonds are being designed. These are novel structures that will see borrowings tied to specific revenue generating projects, bringing private sector financial discipline to the project structuring and delivery process, thereby improving value.
Our first quarter-planned release of N350Bn is ready and is sure to have significant impact, in addition to exploring opportunities to reduce contract prices. Our conditions for release of funds are clear and the mandate is a simple one: to define and agree the number of Nigerians to be engaged as a result of this funding. Priority will be given, without apology, to those creating jobs and opportunity for Nigerians. This level of investment, predominantly capital, exceeds the total capital spend for the whole of 2015 and the tempo will be sustained until the green shoots of recovery begin to appear.
John Maynard Keynes’ famous quote on fiscal stimulus – that when economies are depressed, “Government should pay one man to dig a hole and pay another to fill it back” – is an extreme example and suggests an economic benefit in seemingly pointless activity. In Nigeria’s case, the activity to be triggered will be a fully productive one. We will pay men and women to meet our critical needs in power, transport, housing, agriculture, solid minerals, health and education – and lay the foundation for a collective future that is more positive than our current situation may suggest.
One of Nigeria’s greatest strengths is the resilience of her people. Even beyond our shores it is widely acknowledged that if you can survive in Nigeria, you can thrive anywhere. Our ability to overcome obstacles and our ingenuity in exploiting opportunities, are legendary; our economic policy will ensure more of us succeed in creating wealth.
Sufficient diversity
There is sufficient diversity of opportunity which our capital investment can unlock. We will always celebrate the emergence of billionaires, of course, but we recognise that a thousand millionaires have greater fiscal impact. Therefore, where the number of private jets was touted in the past as a measure of success, we will take pride in the number of people lifted out of poverty, and the number of new jobs created. The idea that Nigeria can succeed this time is, for some, unthinkable. But for those of us privileged to be part of this determinedly patriotic team led by President Muhammadu Buhari, it is and will be possible.
– Mrs. Kemi Adeosun is the Minister of Finance

President Buhari at Nuclear Summit and its takeaways BY GARBA SHEHU

President Buhari at Nuclear Summit and its takeaways
U.S. President Barack Obama, right, shakes hands with Muhammadu Buhari, Nigeria's president, during a closing session at the Nuclear Security Summit in Washington, D.C., U.S., on Friday, April 1, 2016. (AFP)
Today, we live in a world that is troubled by the fear of nuclear terrorism.
The Black Sea region of the world, the new republics born out of the defunct Soviet Union, is awash with illicit trafficking of nuclear and associated radioactive materials.
More troubling is the fact that these dangerous materials are being hawked in areas of turmoil in the Middle-East.
The Islamic State of Syria and Iraq, which took control of the University of Mosul in Iraq, is believed to have formulated lethal explosives using nuclear material at the University lab.
ISIS has shown an incredible capacity and a lack of scruples in war as to deploy and use lethal weapons on civilian targets in the ongoing conflict.
The vision for the Nuclear Security Summit, which President Muhammadu Buhari attended along with 56 other leaders, came out of President Barack Obama’s belief that if terrorists can mount the type of attack they did on the Twin Towers in New York in 2001, they could use nuclear weapons on civil populations if they had them.
The first NSS summit Obama convened set a an ambitious agenda seeking to “strengthen the global nuclear safety architecture, especially to ensure that non-state actors do not have access to nuclear stuff”.
Among others, it aimed at increasing security around poorly guarded nuclear facilities and reactors and radioactive stuff from hospitals, and to secure cooperation among states to prevent,detect and deter smuggling of nuclear radioactive materials. This is in order to keep nuclear weapons “out of the reach of terrorists and rogue nations”.
The well-known ambition of the Islamic State in seeking nuclear materials in a bid to to use them in inflicting maximum damage in densely populated areas and fears expressed from concerns about the chaos in Iraq, Syria, Libya, Yemen, Somalia and Libya, described as largely being “ungoverned”, continuing to serve as bastions for the training of terrorist all make the threat of nuclear terrorism seem possible. Although there are several terrorist organizations, armed gangs and armed merchants snooping around for these weapons, ISIS have not hidden their own Weapons of Mass Destruction ambition. They gave the world a hint of this when they launched chemical attacks on civilians in Iraq and Syria.
“If these madmen ever got their hands on nuclear material, they will certainly use it to kill as many innocent people as possible,” warned President Obama.
To us here in Nigeria, nothing brings the lesson home more than the reported allegiance paid to ISIS by Boko Haram. Our supposedly home-grown terrorist organization had from then on extended its tentacles to the world’s most ruthless terrorist society.
With the alliances formed, Nigeria is clearly at a risk of terrorists making or acquiring a nuclear bomb from a nuclear weapons country and exploding on our population; there is the danger of them attacking radioactive material storages in the civilian domain, say hospitals (X-ray machines, smoke detectors etc) to create a so-called dirty bomb that can spread nuclear contaminants.
Why was it important for President Muahmmadu Buahri to attend the NSS?
Let us first talk about diplomacy and the role of Nigeria as a continental leader when it comes to nuclear technology.
This country has been active in the nuclear area for upward of 35 years, that is from the time the Murtala/Obasanjo administration initiated a nuclear program in response to fears that the then Apartheid South Africa, which had nuclear weapons could attack Nigeria given our frontline role in the quest for the liberation of that country. Two nuclear research centers were then set up, one at the Ahmadu Bello University, ABU Zaria and the other at the Obafemi Awolowo University, OAU Ile-Ife.
After South Africa, Nigeria and Egypt come next in ranking in nuclear technology activity on the African Continent.
In realpolitik in the unipolar world in which we live, a meeting called by President Obama is hard to ignore unless you are Mr. Putin or a Mugabe.
In the case of Nigeria, there is a special relationship between our leaders. There is so much love and respect for President Buhari on the Part of Obama that Secretary of State Kerry could pointedly tell our president to come forward with whatever he wanted of the administration if that can be done before the eight months when Obama’s tenure ends. President Obama was himself caught off guard saying to Trudeau, the Canadian Prime Minister: “Have you met President Buhari? He is doing a good job!”
In addition to all other things, this was a meeting of Presidents and leaders of Government in the World. Very serious issues of nuclear terrorism and how to protect nuclear materials were discussed at the highest level and could not have been delegated. As described by a delegate, the threat is global, the impact of a nuclear terrorist attack will be global and therefore solution must be global.
Our President, who had attended the summit for the first time, laid his own vision for nuclear safety around the globe.
If Nigeria did not participate, the rest of the World will find it difficult to believe that the Country can successfully handle the Nuclear Power Programme we are putting in place.
Nigeria is also affected because of current terrorism in the Country; we stand to get the goodwill of the world by attending and presenting our case and showing what we are doing to tackle the problem.
The participation of our president had hopefully brought national attention to bear, not only on the summit but helping to bring knowledge and awareness of the threats posed by nuclear terrorism.
As a matter of fact, this was the most successful NSS.
Gains from the Summit
As we prepare to start a program for peaceful nuclear technology, Nigeria needs to learn and exchange experience in developing capability and procedures for emergency preparedness. We must not repeat the mistakes others have made.
The country is already getting help on the development and promulgation of best practices for developing and implementing a nuclear program. Following talks and agreements at this summit, we are receiving deeper international cooperation.
The NSS is a demonstration of the complete transparency and confidence in the world on nuclear technology. The Nigerian Nuclear Regulatory Authority under a notable nuclear scientist, Prof. Lawrence A. Dim, the Director-General led our team to share the progress report of the work we have done so far.
The whole world has come together as one to deal with terrorism. In fact, a discussion behind closed doors on nuclear terrorism based on a hypothetical scenario yielded a lot in terms of International understanding and cooperation in nuclear security. Countries with advances in this area are willing to share with all the others. Of particular interest, Israel for instance said they would share their advanced detection mechanisms for radioactive materials with all their neighbours, whether they have diplomatic relations with them or not.
Nigeria took home an portent lesson, which is that planning and strategy alone cannot combat the scourge, rather it is implementation that makes it work. The NNRA is expected to come up with plans for table-top exercises and drills from time to time to implement and test these strategies. The regular conduct of exercises and drill will help to mitigate the consequences, loss of life and resources in case of an attack.
President Buhari, who has shown a remarkable degree of support and encouragement has promised to do even more to support both NNRA the national regulatory body and the IAEA to sustain nuclear security.
The country also joined the others to commit themselves to the reduction of Highly Enriched Uranium,HEU stockpiles in order to make it less attractive for terrorist to use for malicious intent in their countries.
The summit created world-wide awareness on the scourge of terrorism and for better protection and securing nuclear and radiological materials. Aside the these gains, there were bilateral meetings with other world leaders which resulted in the following gains
*There is no truth to the widespread speculation that President Obama will visit Nigeria before he ends his term but the Secretary of State John Kerry will be the one to come. Obama has earlier promised our President that he will come to Nigeria after he leaves office. An Obama visit has been the desire of Nigerians and Nigerian Leaders.
*The government of United States has made a commitment to spend 600m US$ in Nigeria arising from this visit.
*The United Nations made a commitment of 800m US$ towards the rebuilding of the North-East part of Nigeria destroyed by terrorists.
*The Government of Demark has expressed interest in investing in agricultural sector in Nigeria. This is also from one of the side meetings of the President during the NSS.
*The Japanese Government is very desirous of working with, and in assisting Nigeria. This is being worked by both parties.
*The US government through the Under Secretary for Nuclear Security and his office have pledged to support Nigeria’s effort to establish nuclear Security Infrastructure in all its ramification. They also pledged assistance in the areas of research and forensics development.
The overall achievement of the summit Is that it strengthened the nuclear security architecture at national, regional and global levels. It also broadened the ratification and implementation of international legal instruments regarding nuclear security. Participating nations agreed to to place all nuclear facilities under the highest security surveillance. They also agreed to increase individual and collective capacity to protect their borders against nuclear smuggling and radiological sources.
Nigeria gained international acceptance of its nuclear programs which are designed for peaceful purposes. But there is still much to be done by our parliament in domesticating international agreements, instruments and conventions signed by our governments. Some of these draft laws have been lingering in the legislature since 1999. “We have signed all the agreements, but Nigeria needs a new, comprehensive legal and regulatory framework” says Professor Dim.
With the progress so far achieved, the minister of Power, Babatunde Raji Fashola is optimistic that the foundation for this country’s first nuclear power plant, using the safest technology to produce 1,000 MW may be laid in four years.
With a president who takes great interest in these matters, nuclear energy may be the panacea to the unreliability of oil and gas in the provision of electricity in our country.
– Shehu is the Senior Special Assistant to President Muhammadu Buhari on Media and Publicity.

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