The removal of subsidies from petrol, electricity, and foreign exchange has led to hikes in tariffs on items like data, cable networks, Netflix, and prices of practically every purchase in Nigeria. This makes Nigerians wonder when the round-robin will end.

Businessmen, corporate organisations, and even the government find it difficult to make realistic budgets that will not run out of cash before completing long-term projects, acquiring inventories, and meeting operational obligations.

The best accountants are now finding it difficult to predict credible financial outlays to intelligently guide their principals as the unpredictable galloping inflation horse continues to canter and drop its hoofs without control.

More importantly, Nigerians are asking if there will be a respite, by way of a review of incomes, so they can cope with the new tariffs and price regimes. The token N70,000 minimum monthly salary is clearly unrealistic and inadequate.

Nigerians expect ground-shaking reviews that will match incomes in Nigeria to the global scale, as tariffs and prices have risen astronomically. Any seasoned accountant will tell you that, to every debit, there is a matching credit, or vice versa.

This matching is even more critical after Dangote refineries increased the price of its petrol from N899 to N955 per litre in response to a 15 per cent increase in the international price of crude oil that someone in Nigeria’s petroleum eco-system describes as an “international citizen”.

It is encouraging that from the faraway World Economic Forum in Davos, Switzerland, the Minister of Finance and Co-ordinating Minister of the Economy, Wale Edun, acknowledges that Nigeria’s economic realities should reflect in the cost of running businesses. It should also be reflected in workers’ remuneration.

The argument is that if services and products that Nigerians pay for can reflect the realities of the removal of subsidies, market forces, and global trends, the remuneration of Nigerian workers should reflect the same realities.

The CEO of the Centre for Promotion of Private Enterprise, Dr Muda Yusuf, predicts that America’s President Donald Trump’s intention to increase investment in petroleum and gas will have a two-fold impact on Nigeria: reduce Nigeria’s oil revenue but lower the prices of petroleum products.

As these two developments may not cancel each other out in the pockets of Nigerians, the impact of the removal of subsidies from petrol, electricity and foreign exchange on sundry consumer goods and services may not also abate.

And, as immigrant workers, hounded by President Trump, leave America’s farms for their countries, the resulting food shortage and higher prices may cascade to Nigeria, a net importer of America’s agricultural produce.

But if President Trump can end the Ukrainian-Russian War swiftly, the prices of wheat, its products and food inflation should drop. You may have to cross your fingers though and not go knocking on wood because denizens of International Monopoly Capital can come up with a new thing.

Increased tariffs that President Trump is threatening to impose on international commodities may degenerate into a global tariff war, according to the Director General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala.

If the government pays attention to corporate cost systems only and disregards the remuneration of citizens who buy things and keep the economy going, the economy may collapse and poverty will be as widespread as an epidemic or as if the nation were at war.

The shortage of cash, caused by the incompetent attempt at changing, or, more appropriately, “recolouring” of the naira by former Governor of the Central Bank of Nigeria, Godwin Emefiele, is a rough idea of what a war economy looks like.

Edun, who has a master’s degree in economics, must understand the import of these submissions. If you destroy the middle class, which always has to spend to keep up with the Joneses, you just run down your country’s economy.

PricewaterhouseCoopers warns: “Macroeconomic pressure points (caused by government policies) such as rising inflation, a high interest rate and naira depreciation may drive an additional 13 million (Nigerians) below the poverty line.”

Government policymakers, who remind Nigerians that the pump price of petrol in America, their favourite benchmark, is $0.897 or roughly N1,390, should also tell Nigerians that the minimum wage in America is $7.25 per hour or roughly N11,237.

For a 40-hour work week or 120 hours per month, other things being equal, the minimum monthly wage in America should be $1,160 or roughly N1,798,000. Thus, the lowest-wage earner in America gets a higher pay than most Nigerian CEOs.

That is not even talking about the state of Alaska, whose minimum wage of $11.91 per hour, or $1,905.60 per month, is a truckload of approximately N2,954,632.80 per month if the lowest-paid Alaskan were to receive his remuneration in naira.

These astronomical figures are neither equal nor equivalent to the meagre N70,000 that some Nigerian state governments and corporate organisations that have already adjusted their tariffs, rates and prices upward seem not to fully understand or acknowledge but act as if they are unwilling to pay.

Nigeria’s economic policymakers must remember that the world is “flat” and the economies of most countries of the world are practically integrated. Indeed, most strategic consumer goods that Nigerians consume are imported.

And Nigerians are stuck to buying imported consumer goods because successive governments have failed to implement economic policies that can reverse the trend and provide homegrown goods, even if there won’t be excess for export.

As long as petroleum, the main cash cow of the Nigerian economy, and Nigeria’s imported staples are traded in the American dollar, imported inflation shall not cease because the Nigerian economy remains an appendage of the metropolitan economies.

That being so, it should make economic sense if Nigeria’s economic policymakers acknowledge that the Nigerian economy is no more than a trading outpost of the metropolitan economies and, therefore, introduce supply, demand and pricing structures to match the realities of the “flat” world that is led by Euro-American economic powers.

To put the argument in another way: If Nigeria’s primary cash flow is derived from the export of a commodity that is traded in the US dollar and Nigeria continues to import staples, also traded in the US dollar, then the pricing of Nigerian labour should reflect these realities.

This should provide a more realistic remuneration reward system for Nigerians who now seem to be asked to labour and sweat for hours, only to receive pittance as remuneration at the end of the day. The “japa” economic migration syndrome is caused by talent seeking an appropriate reward environment.

But those who run Nigeria continue to insult Nigerians by offering them the relatively weaker naira rate in remuneration but expect them to buy even staple goods at rates equivalent to the stronger dollar. This is shown in the suggestion that Global South workers earn less than 87 to 95 per cent for the same job as their Global North counterparts.

If Nigeria’s economic policymakers sit back and take a hard look at the remuneration system of Nigeria, they will realise that Nigerians, resident in Nigeria, but with remunerations tied to the international economy, live a more opulent life in Nigeria.

Check out the lifestyles of workers in the oil and banking sectors (and their bureau de change appendages) that trade in foreign exchange, importers (or exporters), and public servants who have anything to do with the use of Nigeria’s foreign exchange.

The Yoruba socio-cultural organisation, Afenifere has called on President Bola Tinubu to immediately release the detained leader of the Indigenous People of Biafra, Nnamdi Kanu.

Describing Kanu as a political detainee, Afenifere said the continued detention is unjustifiable, calling on the President to take prompt action.

The association made this call in a communiqué signed by its deputy leader, Oba Oladipo Olaitan, after a meeting held at the Isanya Ogbo residence of its leader, Pa Ayo Adebanjo.

“From all circumstances, particularly since his abduction in 2021 and rendition to Nigeria and since then subjected to controversial and conflicting legal proceedings in different courts by which his fair trial may no longer be guaranteed in the opinion of reasonable members of the public, it is clear that Nnamdi Kanu is indubitably a political detainee.

“In the interest of justice and national reconciliation, Afenifere urges President Tinubu to release Nnamdi Kanu forthwith. There is no justifiable reason to continue to keep him in detention without trial,” the communiqué read.

The group also announced the appointment of Barr Dele Farotimi, as its new National Organising Secretary.

The communiqué also saw the group lament that the state of insecurity remained as sire as it was under the previous administration.

Consequently, the group called on the President to take bold, positive and ideological steps to ensure genuine protection of lives and property.

Pointing to the recent alarm of bandits’ influx by Governor Seyi Makinde, the Afenifere reiterated its demand for restructuring.

“Nigeria, with its vast territory, population and as a federation, cannot be effectively and meaningfully secured with a single command unitary police structure, thus the need for the restructuring to ensure immediate constitutional institutionalization of state police,” the communiqué read.

In attendance at the meeting presided over by the Deputy Leader, Oba Oladipo Olaitan were delegates from the six South West, Kogi and Kwara states including the former Deputy Governor of Lagos State, Senator Kofoworola Bucknor Akerele; Secretary General, Chief Sola Ebiseni; Chief Akin Osuntokun; Professor Akin Onigbinde; Elder Tola Mobolurin; Dr Gbola Adetuji; Olorogun Pop Ayo-Banjo and the National Publicity Secretary, Prince Justice Faloye.

[Punch]

…3,690 among non-detained immigrants, 1,454 in detention for various offences

…FG’s inter-agency c’ttee already in place, if… — NiDCOM

The figure includes non-US citizens of Nigeria origin in the Immigration and Customs Enforcement, ICE, and Enforcement and Removal Operations, ERO, non-detained docket with final orders of removal from the US and those already in ICE detention.

Efforts made to reach the Ministry of Foreign Affairs on the matter, at press time last night, proved abortive.
But the Nigerians in Diaspora Commission, NiDCOM, told Vanguard that the Federal Government had already put in place an inter-agency committee to tackle the matter should there be mass deportation of Nigerians by Donald Trump’s government.

However, data shared by ICE showed that a total of 1,445,549 non-US citizens from different nationalities are on the non-detained docket with final orders of removal as at November 2024, with 3,690 being Nigerians.

Fresh data from ICE also indicated that an additional 1,454 are currently in detention and are billed for deportation to Nigeria.

According to the data, 772 of the 1,454 Nigerians in ICE custody were arrested and detained for criminal convictions or pending criminal charges, while the rest were arrested for other immigration violations, such as visa overstay.

It further showed that 417 were arrested and removed as at November 2024, while 884 were removed between 2019 and 2024.
The disclosure by ICE comes at a time the newly-inaugurated administration of President Trump is implementing an immigration policy aimed at ridding the United States of illegal immigrants.

Nearly 3,000 “criminal aliens” have been arrested in the first few days of the operation in the wake of the mass deportation.

Though the initial arrest and deportation were focussed on illegal immigrants with known criminal records, there is a growing concern that attention would soon shift to include other illegal immigrants, especially those in the non-detained list with orders for their removal from the states.

A “non-detained docket” refers to a list maintained by ICE that includes individuals they believe are removable non-citizens currently residing in the United States but are not held in ICE detention.

Essentially, they are people that are not currently in ICE custody but are still considered targets for potential deportation action.

Usually, ICE, with the power of final order of removal from an immigration court, will go ahead to deport a person on the non-detained docket, even though a person may be deported without a court order under the process of expedited removal.

Final order of removal

A final order of removal is usually issued against an immigrant who has violated immigration laws, has a criminal conviction or possesses an expired immigration status.

ICE said in the document that it is unable to provide a list of case-specific reasons it is unable to remove certain non-citizens on the non-detained docket with final orders.

“There are several reasons ICE is unable to effectuate removals. Under Title 8 of the U.S. Code, ICE may remove non-citizens from the United States who are subject to final orders of removal issued by an immigration judge or other lawful orders, including those processed under expedited removal who either have not claimed a fear of return or received a negative credible fear determination affirmed by an immigration judge.

“However, this does not guarantee every person seeking to remain in the United States will be able to do so.
“Non-citizens may pursue a form of relief or protection from removal, which may include asylum, withholding of removal, or protection under the Convention Against Torture. If a non-citizen is granted any form of relief from removal, ICE is unable to effectuate the removal.

“Additionally, ICE works to remove undocumented non-citizens from the United States once they are subject to final orders of removal in a timely manner.

“The U.S. government believes every country is obligated to accept the return of its citizens and nationals who are ineligible to remain in the United States. Lack of cooperation from the foreign government delays and, in many cases, inhibits the removal process,” ICE noted.

Meanwhile, the ICE and ERO have also been mandated by President Trump to ramp-up arrest and removal actions to between 1,200and 1,500 daily.

Commenting on the removals, ICE Deputy Director and senior official performing the duties of the director, Patrick J. Lechleitner, said: “With the public release of this enforcement data, ICE is demonstrating its commitment to openness and transparency.

‘’We will continue to evaluate and enhance how the agency communicates measurable data to best inform how our officers and special agents perform their law enforcement missions in accordance with departmental and agency priorities.”

Following the directive given to Department of Justice, DOJ, law enforcement officials in the U.S. Marshals, Drug Enforcement Administration, DEA, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and the Federal Bureau of Prisons authority to investigate and apprehend illegal aliens, Acting Department of Homeland Security Secretary, Benjamine Huffman, said: “Today’s action empowers law enforcement officials at the DOJ to help identify and apprehend aliens who have illegally come into our country.

“Mobilizing these law enforcement officials will help fulfill President Trump’s promise to the American people to carry out mass deportations.

“For decades, efforts to find and apprehend illegal aliens have not been given proper resources. This is a major step in fixing that problem.”

FG’s inter-agency c’ttee already in place, if… Nidcom

Contacted yesterday for its reaction, the Nigerians in Diaspora Commission, NiDCOM, however, said it was not aware of Nigerians in America being processed for deportation.

The Director of Media and Corporate Affairs of the commission, Abdurahman Balogun, said though the Ministry of Foreign Affairs was in charge of such development, being a consular matter, the Federal Government had already set up an inter-agency committee to handle the matter should Nigerians be deported from the US.

“The Federal Government has set up an inter-agency committee, comprising the Ministry of Foreign Affairs, NiDCOM, Ministry of Humanitarian Affairs and office of the National Security Adviser, NSA, should there be mass deportation of Nigerians from the US,” Balogun said.

[Vanguard]

Cashland is in crisis, and both Nigerians and expatriates are caught in the storm. Once, walking into a bank and walking out with cash was as predictable as traffic jams on Third Mainland Bridge. But now, trying to withdraw ordinary ₦50,000 in cash from your own account is like asking the government to triple workers’ salaries – an exercise in wishful thinking.

Recently, I was with my friend, Ehi Braimah, navigating through the not-so-thick traffic from Ikeja GRA to Agidingbi. Ehi, a seasoned Brand and Public Relations expert, was on his way to a live radio program anchored by Reuben Abati – a no-nonsense TV and radio presenter who wields equal skill with prose delivery in newspapers and other journals. Somewhere along Oba Akran Road, Ehi spotted a vendor peddling pillow. What a convenient opportunity to buy directly from the source, especially since the vendor was selling a popular brand.

But alas, the situation was not that straightforward. When Ehi offered to pay via bank transfer, the vendor flatly refused. Instead, he pointed to a POS operator stationed nearby, ready to facilitate the transaction for a fee. For a ₦16,000 transfer, the POS charge was ₦400 – a shocking leap from the ₦65 banks would typically charge for the same transaction. However, the vendor insisted: no POS, no deal.

This is the harsh reality Nigerians face daily. Even the banks are no longer of much help. Most ATMs now dispense only ₦5,000 per withdrawal, forcing customers to make multiple withdrawals and pay the ₦65 fee repeatedly. A simple attempt to withdraw ₦20,000 from an ATM now comes with a side dish of ₦260 in cumulative charges. Little wonder many people, despite grumbling, end up patronizing the exorbitantly priced POS operators.

Ehi, visibly livid with rage, made it to the radio studio and wasted no time venting his anger during the interview. With characteristic candor, he condemned the recent actions of telecommunication companies, which have added to Nigerians’ woes by increasing charges by a whopping 50%. This, despite offering subpar service delivery and still recording humongous profits. Ehi’s words were a rallying cry, articulating the frustration many Nigerians feel about being squeezed from every angle – banks, telecoms, and now, even pillow vendors.

And this brings us to the bigger issue: what exactly is going on with cash in Nigeria? Why has the Naira suddenly become scarce like fuel during a tanker drivers’ strike? The Central Bank of Nigeria (CBN) told us cash would be available after their much-publicized Naira redesign, but here we are – banks are dry, and the streets are buzzing with POS operators who’ve become the new lords of liquidity.

Speaking of POS operators, have you noticed how they’ve practically replaced ATMs? Once upon a time, you’d stroll to an ATM and get your money, but now, you have to find a POS stand, pay an outrageous fee, and hope they don’t suddenly run out of cash. It feels like we’ve gone from “cashless policy” to “cash scarcity policy.” And the CBN? Silent. Watching. Unbothered.

If that’s not bad enough, Nigerians are now buying Naira with Naira! Yes, you read that right. Want ₦50,000 in new notes to impress your in-laws or pay for a traditional ceremony? Be prepared to cough up ₦65,000. That’s an additional ₦15,000 to the bargain. Need ₦20,000 in crispy cash for spraying at a party? That’ll be ₦30,000, please. This absurd trend is now the norm, with partygoers and social climbers shelling out extra just to flaunt bundles of new notes in public.

And despite the shouting from both the EFCC and the Central Bank that it is illegal to spray the Naira at parties – or worse still, sell mint notes for profit – this practice is thriving. At every owambe or celebrity event, children of the affluent and celebrities are throwing the Naira in the air like confetti, with POS operators right there in the crowd selling cash at premium rates. It’s like a cash carnival, in full glare of the law. But honestly, who do they want to arrest? Everyone seems to be doing it now, especially since banks have practically stopped paying cash to their customers.

The reality is that the Naira has been battered on all sides. Once a currency that could at least pretend to stand shoulder-to-shoulder with the dollar, it now folds like cheap adire fabrics in the presence of foreign currencies. Dollars, pounds, and euros have turned the Naira into a lightweight, and the banks seem to have decided to pile on by limiting access to even the little value it has left.

But let’s talk about the real victims here – ordinary Nigerians. How is the woman selling tomatoes in Jankara Market supposed to restock her goods when her bank limits her cash withdrawals to ₦20,000? How does the bus driver fueling his danfo navigate this mess? Must we all now carry POS machines in our pockets to survive?

The sad truth is that this situation is strangling small businesses and making life unnecessarily difficult for everyone. Transactions that should take minutes now drag on for hours because banks no longer have cash, and the people who do have it charge ridiculous fees to part with it.

So, here’s a plea to the CBN and the banks: fix this mess. The Nigerian economy cannot thrive on transfers alone – not when network failures are as common as political promises during election season. We need cash, and we need it to flow like the Lagos floods during rainy season, not drip witnessed by those still served water from public source.

And as for the rest of us, let’s keep asking questions. Where is our money? Why are some people walking out of banks with millions while the rest of us can barely withdraw what’s left of our dignity? Why are Nigerians paying a premium to access their own hard-earned money? And why does spraying mint notes at parties now seem like a bigger industry than agriculture? Until we get answers, the mystery of the missing Naira will remain unsolved, and the struggle to access cash will continue to make life in Nigeria more frustrating – and absurd – than it needs to be.

Banjo is a tech-savvy writer, travel consultant and environmental activist based in Lagos.

Please, don’t let the above question trouble you. It’s my response to the SkillUp Imo documentary which I watched recently. It was so totally unexpected but so delightfully nourishing at the end that I couldn’t have asked for anything better to see on television that very day. AIT gave me the full dose of SkillUp Imo Impact Story that morning for which I remain grateful.

I was privy to its birth and have also done regular checkups on the project to measure its progress or should I say growth? SkillUp Imo is a cardinal capacity building programme designed by the Imo State Government to tackle youth unemployment and restiveness by exposing beneficiaries to well structured training on modern technology, which is executed in cohorts. Take them off the streets and wean them on the ever expanding but rich and increasingly and infinitely relevant diet of technology.

So much space within which to move but oftentimes, reason, meaning and relevance are lost within the space and a good programme can easily morph into a political ballyhoo.

The Governor of Imo State, Hope Uzodinma, set the limits of what would turn out to be broad expectations. “The aim of the SkillUp Imo Project is to upskill, to re-skill and train 300, 000 Imo youths to acquire the 4th Industrial Revolution (4IR) skill set needed to align and fit into the evolving digital world,” his voice rang out in a hall filled to capacity.

Pioneer Commissioner of the Ministry of Digital Economy and e-Government, Dr Chimezie Amadi, who was equally as enthusiastic, said the whole idea spins from the governor’s foundational belief in the Imo Digital Agenda – IDEA 2022-2026, which is tasked with spearheading digital transformation and redefining governance in Imo State.

But transformation would have to start with the people, especially the young ones who shouldn’t waste their prime of creativity and genius when given the right training or skill set, that is, if the governor is kind enough to lend us his phrase.

This was 2022, and above expectations are expected to be met by 2026. Is the State close to meeting the target? Without a tint of doubt, I want to say they are not close to meeting the target at all. But a seed has been sowed and it is the germination of that seed and gradual growth that prompted my opening question: so, what happens to SkillUp Imo programme now?

The documentary and other available documents clearly put the records out there. After the successful completion of Cohort 1 and 2, about 40,000 youths have been trained in areas such as Cybersecurity, Artificial Intelligence, Mobile App Development, Introduction to Computer, Phone Repairs, CCTV, LAN, Graphics, UIUX, Project Management, Software Development, Blockchain, Fibre Networking and Spicing, Fintech, Entrepreneurship and Digital Marketing.

There are other details. Out of these numbers, 47 percent are males, 53 percent female while 2 percent of them are people living with disability.

Within the period, SkillUp Imo has developed strategic partnerships with local and international technology giants, such as CISCO, Microsoft (via wootlab Foundation), and the Memoranda of Understanding signed with the European DIGITAL SME Alliance. The Alliance opens several windows of opportunities for SkillUp Imo graduates.

The documentary informs that a remarkable percentage of the SkillUp Imo graduates have been connected to high paying job opportunities within and outside the state. Over 500 alumni have secured remote gigs on remote platforms like the ministry’s own freelance platform – Technosphere, while some others are pursuing sustainable careers with companies like Konga, Adminting, Silicon Valley, Zinox, and 421 Films, among others.

The documentary brims with testimonies of young people whose lives have been impacted by the SkillUp Imo initiative, as they have become natural ambassadors, flying the flag of a programme they least expected to change their stories forever. There is no need to talk of the job situation in Nigeria which is dire, but quite a number of them say they are gainfully employed now and have a means of livelihood which opens them up to the opportunities in the global technology ecosystem.

Some employers attest to the quality of graduates of the programme while appealing for its sustainability.

A beneficiary of the programme, Precious Ikoku testified in the following manner: “SkillUp Imo exposed me to a lot of opportunities. First, I got to meet a lot of amazing people, creatives that are interested in video editing. I am still in touch with them. They give me jobs for editing. I edit videos for them and they pay me,” she said excitedly.

While for Jim Temple, “My experience with SkillUp Imo is that it really had a positive impact on me. I made some connections in which Wakanow.com Ltd was one of them. I had a series of interviews with so many companies before I landed the one with Wakanow.”

“We are excited about the partnership between Microsoft and SkillUp Imo. We have seen tremendous impact especially with the participation of the youths,” said Ola Tominwa of Microsoft.

There is no doubt that Imo State is building a coalition of relationships that can secure its future and achieve that “unique and enviable status of an emerging tech talent hub of Nigeria,” which Amadi dreams about.

So, what happens to the SkillUp Imo programme? “The SkillUp Imo Project represents a visionary initiative that empowers citizens, fosters innovation, and positions Imo as a key player in the global economy,” Amadi says.

More words, you may want to say, to decorate a project that has achieved resounding acclamation, but what future lies ahead? What are the sustainability plans?

I remain fascinated by that documentary. I am happy for the young men and women who now have their future within their grasp as they tap into the digital world with limitless opportunities. But I also know that ideas and projects can easily take a journey to the graveyards, destroyed by whimsical cravings of politicians who care only about their tenure and less about the people.

From that documentary, one could see an enthusiasm about the SkillUp Imo Project that Governor Uzodinma should sustain. He should solicit more private sector participation and also the active involvement and sustained engagement with international technology organisations and agencies which are more disposed to training and subsequent engagement of international talents from tech hubs even in the developing countries.

Technology unites the world. The language is almost synchronous, and is blind to colour and race. Those who acquire it have a password to happenings in the global technology ecosystem. This should encourage the government of Imo State to elevate SkillUp Imo beyond the dirty realm of politics, to an idea whose time has not only come, but can well lead the State beyond dreams, to a world which only technology understands and can interpret fully to the benefit of humanity.

Johnson Olawumi, the former director-general (DG) of the National Youth Service Corps (NYSC), has responded to Adams Oshiomhole’s allegation that retired generals are behind illegal mining.

On January 25, Oshiomhole, chairman of the senate committee on interior, alleged that retired military generals are behind the spate of illegal mining activities in the country.

The lawmaker spoke during the submission of the 2025 budget report by Sampson Ekong, chairman of the senate committee on solid minerals development, to the senate panel on appropriation.

But in a statement on Tuesday, Olawumi said Oshiomhole’s comments are “offensive and harsh” to retired generals, who had served the country honourably.

The ex-NYSC DG, who is a retired major general, called on Oshiomhole to back up his claim with concrete evidence or withdraw the allegation.

“As a former state governor and currently a distinguished senator of the Federal Republic, Senator Oshiomhole sure has his facts and evidence,” Olawumi said.

“Therefore, the most responsible action expected of him is to petition such individuals or retired military generals involved in illegal mining activities to the Department of State Services (DSS) or any other relevant authorities.

“His claim that efforts in the past under President Muhammadu Buhari drew no attention is not enough. He is aware that such allegations cannot be swept under the carpet under the current dispensation.

“Senator Oshiomhole is an important personality whose statement carries heavy weight and trends across Nigeria and beyond.”

[TheCable]

The decision by ThisDay newspaper and Arise News to name President Bola Ahmed Tinubu as their Man of the Year is a fitting recognition of his journey as Nigeria’s president over the past 19 months, starting from May 29, 2023.

Tinubu’s presidency has been marked by ambitious socioeconomic reforms, most notably the removal of petrol subsidies and the unification of Nigeria’s multiple exchange rates. The elimination of fuel subsidies caused an unprecedented surge in the cost of living, given the pivotal role petrol plays in transportation and the daily lives of Nigerians. Meanwhile, the exchange rate unification led to a significant naira devaluation—over 50%—exacerbating inflation in an import-dependent economy like Nigeria.

Undoubtedly, these 19 months have been challenging for Nigerians. However, Tinubu and his economic team have framed these reforms as a necessary foundation for correcting long-standing structural imbalances. For decades, Nigeria prioritized subsidizing consumption—such as petrol prices and the naira’s artificial strength—over investing in critical infrastructure like roads, airports, railways, healthcare, schools, and electricity, which remain in dire need of improvement.

The current hardships, while severe, are viewed as temporary disruptions. Once these structural imbalances are corrected, the Nigerian economy is expected to recover and thrive. The effects of Tinubu’s reforms are thus twofold: while they have caused significant short-term pain, they also pave the way for an economic resurgence, which appears to be gradually unfolding.

Hardships and Emerging Gains

It is undeniable that, 19 months into Tinubu’s administration, Nigeria is far from achieving stability, let alone prosperity. Yet, there are signs that the worst may be over. For instance, the spike in the cost of goods and services following subsidy removal seems to have peaked, with petrol prices falling below N1,000 per liter after exceeding that threshold. Similarly, the exchange rate, which had soared to N1,750/$1, has dropped to around N1,500–N1,600, with potential for further improvement if reform policies remain consistent.

While the prices of goods and services are still higher than pre-Tinubu levels, there is growing evidence that the cost-of-living crisis is gradually easing. Critics may argue that the reforms have come at an enormous cost, citing inflation at nearly 35% and an unemployment rate of 73.2% to population in early 2024. However, the downward trend in petrol prices and exchange rates—key drivers of living costs—offers some hope for relief.

In summary, while the journey remains arduous, the early signs of recovery suggest that Tinubu’s reforms may eventually deliver the economic revival they promise. For now, the hardship persists, but the foundations for a more sustainable economy appear to be taking shape.

Although prices have not returned to pre-reform levels, they are undeniably dropping, albeit at a slower pace than the initial surge. This can be observed in the declining cost of petrol and the naira’s improved performance against foreign currencies.

The reduction in the cost of living, which had reached a crisis level, is largely attributed to the commencement of local refining by the Dangote Refinery. By refining crude oil into products such as Premium Motor Spirit (PMS), diesel, and jet fuel, the refinery has boosted local supply at a reduced cost. While prices are still above pre-subsidy removal levels, this development has multiple benefits, including job creation—both directly through refinery staff and indirectly through distributors.

In addition, the reactivation of the Port Harcourt and Warri refineries has further increased petrol supply in the market while creating more jobs. These efforts are complemented by several interventions from the Tinubu administration, such as the planned injection of $75 billion by the end of 2024 (rising to $250 billion by 2027) and the establishment of a presidential task force on Compressed Natural Gas (CNG). The CNG initiative seeks to provide an alternative to petrol for transportation and logistics while deploying CNG-powered mass transit buses at both federal and state levels to alleviate the burden on the masses, especially public sector workers.

Another significant intervention is the increase in the national minimum wage from N30,000 to N70,000, representing more than a 100% rise. While not all 36 states have adopted the new wage, several are paying even higher rates, such as N85,000. This increase is expected to improve the lives of workers who were hit hard by the sudden removal of petrol and naira subsidies, which had previously created an illusion of economic stability. Tinubu inherited an economy in critical condition, likened to a patient in an Intensive Care Unit (ICU).

Beyond workers’ welfare, the government has stated that it has also distributed over N24 billion through conditional cash transfers to more than 991,261 vulnerable households across the country. Despite these efforts to ease the unintended hardships caused by the reforms, inflation and unemployment rates have yet to fully reflect the strides being made to address these challenges.

On a personal note, long before ThisDay newspaper named Tinubu as Man of the Year 2024, I predicted his rise to the presidency in my book “Becoming President of Nigeria: A Citizen’s Guide,” published in May 2022—well before he won the APC primaries. Using trend analysis, I forecasted that Tinubu would secure victory after a decisive contest mainly against the former Vice President Atiku Abubakar.

While others doubted his chances, I remained consistent in tracking Tinubu’s political trajectory. It was clear to me that, despite all odds, he would win the 2023 elections and initiate reforms to transform Nigeria. This prediction, made two years in advance, was not a claim to divine foresight but rather an informed analysis of political trends.

The biblical verse Jeremiah 1:5 states, “Before I formed you in the womb, I knew you; before you were born, I sanctified you; and I ordained you a prophet to the nations.” This scripture has led some commentators to view President Bola Ahmed Tinubu as a product of destiny. However, if he is indeed divinely appointed, why has his leadership brought so much pain to Nigerians who have endured prolonged hardships?

A plausible explanation is that significant socioeconomic transformations often require a period of struggle, akin to a wilderness experience. Even the United States endured the Great Depression of 1933-1935, marked by severe economic challenges. Americans bore the scars of that period until the nation was revitalized under the visionary leadership of Franklin Delano Roosevelt (FDR).

This historical comparison frames the current Nigerian experience as part of a larger struggle for socioeconomic liberation. While some may question the biblical reference in analyzing Tinubu’s presidency, given his Muslim faith, the complexity of his persona adds layers to his leadership. For instance, his wife, Senator Oluremi Tinubu, is a Christian pastor, a fact that highlights the inclusivity of his administration. This inclusiveness was recently acknowledged by the Northern Christian Association of Nigeria, which initially opposed the Muslim-Muslim ticket of Tinubu and Vice President Kashim Shettima. During a meeting in Kaduna, Rev. Yakubu Pam stated, “For me, the most important thing is a government that is inclusive, and as far as they have done the Muslim-Muslim ticket, we have also seen inclusiveness.”

Remarkably, ThisDay newspaper, which named Tinubu its 2024 Man of the Year, initially posed a significant obstacle to his presidential ambition. Tinubu had refused invitations for interviews and public debates organized by ThisDay and its sister platform, Arise News. The eventual reconciliation between Tinubu and the media group lends authenticity to the award. In their citation, ThisDay editors highlighted Tinubu’s “unwavering resolve and bold reforms aimed at transforming Nigeria.” They praised his decisions to remove fuel subsidies, float the naira, and push for financial autonomy at the local government level, despite the hardships these reforms have caused.

While his tax reforms and policies have sparked controversy, Tinubu’s leadership as ECOWAS chairman, coupled with his diplomatic efforts to ensure regional stability, reflects his commitment to transformative governance. The editors acknowledged that while his reforms require more inclusive execution, his courage and resilience have positioned him as a consequential leader.

I align with ThisDay’s assessment of Tinubu’s reform agenda. His policies are uprooting entrenched structures that have long hindered Nigeria’s economic growth, a fact that bolsters my confidence in the title of this intervention: “Tinubu’s Economic Resurgimiento: The Best Is In Front of Us.”

Even international observers, such as the outgoing Spanish Ambassador to Nigeria, Juan Sell, echo this sentiment. During his farewell event in Abuja, he remarked, “Nigeria, what a potential! You own the future. It is only a matter of bringing that future to the present.” He urged Nigerians to channel their resilience into a collective commitment to build the nation.

This external validation, alongside Tinubu’s reform initiatives, strengthens my belief that Nigeria is poised for growth and prosperity. However, this requires Nigerians to demonstrate resilience and patience in navigating the current hardships.

Historically, I have supported bold reforms, such as General Ibrahim Babangida’s Structural Adjustment Program (SAP) in 1984/85. If Babangida had pursued his policies with the same determination Tinubu is showing now, Nigeria might already be counted among the world’s most prosperous nations.

That said, the impact of Tinubu’s reforms remains underappreciated by many Nigerians, as reflected in his low job approval ratings. However, history has shown that transformative policies often take time to yield results. The best is yet to come, and Nigerians must remain steadfast in their pursuit of collective progress.

Rather than highlighting the positive aspects of President Bola Ahmed Tinubu’s policies, much of the media narrative has focused on their negative fallout. This may be due to his media team’s inability to effectively communicate his vision with the vigor and creativity required. Additionally, the piecemeal implementation of Tinubu’s policies, as noted by many analysts, has made it difficult for the broader public to grasp their potential benefits.

For instance, when I argued in an earlier piece that the Nigerian economy appeared to be stabilizing, some critics dismissed my observations outright. Yet, their perspective began to shift as petrol prices started to decline. While this reduction has not yet translated into a drop in inflation, there is optimism that over time, the combined effects of lower petrol prices and naira stabilization will positively impact the cost of goods and services.

In December, we saw a boost in diaspora investments as a result of the naira’s devaluation, demonstrated by the heightened economic activity during “Detty December.” A friend in the U.S., for example, recently purchased a four-bedroom maisonette in Parkview Estate, Ikoyi, Lagos, for $200,000—an amount equivalent to about N320 million six months ago. For a U.S.-based professional, $200,000 may not be much, but in Nigeria, it afforded him a luxury property in an exclusive area. This opportunity arose largely due to Tinubu’s decision to float the naira, a move that has attracted diaspora investments back home.

Unfortunately, such positive narratives are rarely emphasized. This is in stark contrast to the approach during General Ibrahim Babangida’s administration when the Structural Adjustment Program (SAP), though equally tough on the masses, was communicated effectively through the leadership of Prof. Jerry Gana. Under Gana’s guidance, Nigerians were convinced to accept SAP as a necessary alternative to International Monetary Fund (IMF) loans with harsh conditions. However, Babangida ultimately succumbed to public pressure, reversed some reforms, and stepped aside without fully implementing his economic vision.

Tinubu, on the other hand, has shown remarkable determination. Though a civilian, his resolve rivals that of military leaders like Babangida and Buhari, as he presses forward with critical reforms such as the removal of fuel subsidies, naira devaluation, and local government financial autonomy. With upcoming tax reforms in the works, Tinubu is on the verge of achieving a comprehensive policy overhaul that could reshape Nigeria’s economic future.

Unlike previous administrations, Tinubu has made these bold moves without resorting to costly national conferences, as was done in 1994/5 under Gen. Sanni Abacha’s watch as military head of state and Goodluck Jonathan in 2014. Yet, if a survey were conducted today, public sentiment about his leadership would likely lean negative, as Nigerians are currently bearing the brunt of these reforms. However, I believe that in five months, when Tinubu’s government reaches its 24-month milestone, the fruits of his policies will start to materialize.

One reform with long-term potential is the National Education Loan Fund (NELFUND), which aims to democratize access to higher education through interest-free loans. Though its full benefits may take a decade or more to become evident, this initiative could produce a wave of highly educated professionals, including doctors, scientists, and engineers, who would bolster Nigeria’s global competitiveness—similar to India’s experience.

Additionally, the Supreme Court’s recent ruling granting financial autonomy to local governments is expected to revitalize Nigeria’s rural areas. By ensuring that funds from the Federation Account go directly to local governments, this reform will address urban-rural migration, enabling rural communities to become economically vibrant once again. It will also make the case for state police easier with the LGAs contributing to the funding of the much tauted state police.

The ongoing tax reforms, particularly those related to Value Added Tax (VAT), are also poised to empower state governments by allowing them to retain a significant share of internally generated revenue. This shift will likely make states more entrepreneurial, fostering competition and innovation at the subnational level. In the future, attributes such as business acumen may become essential for governorship candidates.

Another promising initiative is the Credit Corp policy, designed to boost consumer purchasing power by providing credit for goods and services, such as vehicles and renewable energy solutions like solar panels. By enhancing consumer spending, the policy is expected to stimulate production, create jobs, and improve the overall standard of living.

In conclusion, the transformative reforms spearheaded by Tinubu lay the foundation for a brighter future, despite the current hardships. The administration must work diligently to communicate this vision, persuading Nigerians that the sacrifices they are making today will yield long-term benefits. It is this optimism that underpins my belief that “The Best Is in Front of Us.”

•Magnus Onyibe, a public policy analyst, author, democracy advocate, development strategist, alumnus of the Fletcher School of Law and Diplomacy, Tufts University, Massachusetts, USA, and a former commissioner in the Delta State government, (2003-2007)  sent this piece from Lagos, Nigeria.

Writing in his X handle the Labour Party leader, Peter Obi has clarified his misrepresented interview report of Monday that he was against political coalition.

"I have observed that my honest interview yesterday was misquoted by many media outlets, creating a false narrative that misrepresents my position. Let me set the record straight:

"I am not against coalition, in truth, I am for it not for power grab but to position Nigeria for greatness.

I have not, and will never, advocate for any coalition or alliance that does not prioritize the welfare and progress of the ordinary Nigerian. Any discussion about governance must centre on what it means for the everyday Nigerian, how it will address critical issues such as access to quality healthcare, and education, and pulling people out of poverty.

"Too often in our nation’s history, individuals and groups have come together solely for the purpose of taking power for power's sake. Such endeavours, devoid of genuine purpose and vision, have only deepened our challenges, leaving the ordinary Nigerian to bear the brunt of bad governance. This is what I stand firmly against.

"Leadership must be about service, not self-interest. It must be about building a nation where opportunities abound for all, where justice and equity are non-negotiable, and where governance works for the people, not against them.

"As I have always maintained, the New Nigeria is possible. But it requires us to change the way we think about power. It is not about grabbing it; it is about using it responsibly to transform lives and secure a brighter future for generations to come.

Ibrahim Umar 

POMR SPOKESMAN 

Cemetery market Aba regarded as the most dreaded and hitherto safe haven for the largest cartel ring for the manufacture of fake wines and beverages in Africa has been short down again by NAFDAC in a decisive move to curb the circulation of fake and substandard wine and beverages in Nigeria.

The current action of NAFDAC is the most audacious since the history of the market with specific zones barricaded with iron welding and access gates locked till date. The operation carried out in conjunction with a large contingency of the military, DSS and Nigeria Police, in a rare display of inter-agency cooperation, was a follow up to a similar raid that was carried out in December 2023.

Some of the nefarious activities of the counterfeiters included the manufacturing of all kinds of adulterated products especially different kinds of wine from a wide variety of brands ranging from the following:

· Seaman Schnapps, Henessy, Four Cousins

· Carlo Rossi, Jenney, Chelsea London Dry Gin

· Schnapp Dry Gin, McDowells, Black Labels

· Gordons, Martell, Campari, Smirnoff ice

· Eva Non-Alcoholic Drink, Evra Non-Alcoholic Drink, Cartel and others.

As a consequence of the extensive operation, the agency raided over 240 shops turned factories where the harmful products were being produced and marketed. The shops turned factories are very filthy, using water from very unhygienic sources, harmful chemicals, saccharin, colouring, dirty recycled bottles and cloned packaging materials of other brands. The adulteration of alcoholic beverages by criminal elements in the country is done by mixing of cheaper sources of sugar and starch besides grapes or fruit, among other harmful chemicals unsuitable for human consumption.

Over 1500 cartons of the fake and substandard products were destroyed during the operation. The street value of the confiscated and destroyed fake products in 2023 is estimated at over seven hundred and fifty million naira only. (N750,000,000). The estimated value of products mopped up during the December 15, 2024, operation is five billion naira. The products being revalidated and mopped up include:

· Soft and carbonated drinks such as Fanta, Coca Cola

· Schweppes, Lacasera, Sprite, Hollandia Yoghurt

· Super Commando Energy Drink, Feyrouz and Amstel Malta.

Aside from drinks, notable fake home use beverages such as:

· Peak Sachet Milk, Cowbell Sachet Milk, Peak Chocolate Drink

· Miksi Sachet Milk, Cadbury Chocolate Drink and Ovaltine adulterated versions.

Prior to the evacuation of the products by NAFDAC, they were being produced in the market and neatly packaged and sold to unsuspecting consumers.

NAFDAC management appreciates the support from the Government of Abia state led by His Excellency Governor Alex Otti for his unwavering support for this project OPERATION CLEAN UP ABA. The Mayor of Aba south and the interim management committee of the market and other stakeholders have been working assiduously with NAFDAC on the project leading to another discovery of three major warehouses stockpiling expired HOLLANDIA YOGHURT for revalidation on the 22nd of January 2025.

NAFDAC wishes to assure the public of her determination to safeguard the health of the nation and enjoins the general public to report any suspected fake and substandard regulated product to the nearest NAFDAC office.

NAFDAC: Safeguarding the Health of the Nation

Prof Mojisola Christianah Adeyeye, FAS

The General Meeting of AFENIFERE held  on Tuesday 28th day of January 2025, at Isanya-Ogbo Ogun State at the residence of our Leader, Chief Ayo Adebanjo deliberated on the state of the Nigerian nation, observed and Resolved as follows:

1.0        SECURITY:

1.01  Afenifere notes the terrible security position which worsened under the Buhari administration and remains unabated and calls  on President Tinubu as the Commander-in-chief to take bold, positive and ideological steps to ensure genuine protection of life and property all over the country.

1.02    Afenifere reiterates the position that Nigeria with its vast territory, population and as a federation cannot be effectively and meaningfully secured with a single command unitary police structure and thus the need for the restructuring to ensure immediate constitutional institutionalization of state police.

1.03     The steps  will prevent a situation the Governor of Oyopolice, even as the Chief Security Officer had to helplessly and lamentably  make an outcry on the infiltration of bandits into his state.

2.0     ON NNAMDI KANU 

2.01Afenifere notes that  from all circumstances, particularly since his abduction  in 2021 and rendition to Nigeria and since then subjected to controversial and conflicting legal proceedings in different courts by which his fair trial may no longer be guaranteed in the opinion of reasonable members of the public, it is clear that Nnamdi Kanu is indubitably a political detainee. In the interest of justice and  national reconciliation, Afenifere urged President Tinubu to release Nnamdi Kanu forthwith. There is no justifiable reason to continue to keep him in detention without trial.

3. APPOINTMENT

The General Meeting considered and approved the appointment of Barrister Dele Farotimi as the National Organising Secretary of the Afenifere.  

ATTENDANCE: In attendance at the Meeting presided over by the Deputy Leader, Oba Oladipo Olaitan are delegates from the 6 South West, Kogi and Kwara states and include former Deputy Governor of Lagos State, Senator Kofoworola Bucknor Akerele, Chief Sola Ebiseni, Secretary General, Chief Akin Osuntokun, Professor Akin Onigbinde, Elder Tola Mobolurin, Dr. Gbola Adetuji, Olorogun Pop Ayo-Banjo.

Signed 

Oba Oladipo Olaitan 

Deputy Leader.

Prince Justice Faloye

National Publicity Secretary.