Responding to the widespread demands for a cabinet reshuffle, President Bola Ahmed Tinubu made changes on October 23, replacing five cabinet members with seven new ones. Additionally, the president merged certain ministries, such as Sports and Culture, and streamlined leadership in regional development bodies like the Niger Delta Development Commission (NDDC). He also introduced five new regional development agencies, ensuring representation across all geographic zones of the country, bringing the total to six.
For better coordination, President Tinubu consolidated these regional agencies under a single ministry, transforming the former Niger Delta Ministry into a supervisory body for all six agencies.

Many Nigerians recognize that the most pressing obstacle to economic growth is the country’s inability to generate enough revenue to cover its increasing expenses. This challenge is worsened by the costs associated with running a large presidential system of government and declining revenues, particularly from oil—Nigeria’s main income source. Crude oil production has been hampered by delays in implementing the Petroleum Industry Act (PIA), which took nearly 20 years to become law under former President Muhammadu Buhari in 2021.

Compounding the problem, significant amounts of oil have been stolen by organized groups, as noted by Tony Elumelu, chairman of Heirs Oil. Elumelu reported that a substantial portion of the oil produced by his company and transported through the Forcados pipeline was siphoned off by these syndicates. To address this, a task force was established to combat oil theft.

These efforts are beginning to show positive results, with production rising to between 1.5-1.6 million barrels per day. To further boost income generation, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), led by Engineer Gbenga Kolawole, has set a goal to increase production by one million barrels within 12-24 months. Achieving this would push Nigeria’s daily production to 2.6 million barrels by 2025—a level not seen in about 20 years.

This context is crucial for understanding that the current administration has pinpointed the main issue impacting Nigeria’s economy: low revenue generation and productivity, despite untapped potential within the workforce. To address these challenges, the government is working to boost oil production, curb theft, and remove barriers to private sector involvement in previously restricted sectors, making it easier for investors to participate.

Moreover, the government is taking targeted actions to assist the poor, such as reducing income inequality through progressive taxation. This approach includes differentiated electricity tariffs, where wealthier citizens pay higher rates (Band A), while lower-income groups benefit from reduced rates in Bands B, C, D, and E.

By implementing this tiered electricity pricing, the wealthy effectively subsidize energy costs for poorer households. Additionally, starting in January, the government plans to adjust taxes so that wealthier individuals bear a greater share of the burden, alleviating pressure on poorer citizens who have suffered from past economic policies.
Mr. Taiwo Oyedele, head of the tax reform committee appointed by President Tinubu, recently announced at a forum in Abuja that a 25% tax on high-income earners will take effect in January next year. Additionally, Festus Keyamo, Minister of Aviation and Aerospace Development, had also started implementing taxes on private jet owners who previously avoided such payments—not necessarily due to deliberate evasion, but potentially due to oversight by the relevant regulatory agency.

These actions indicate that the current administration aims to improve conditions for low-income citizens without fully adopting a socialist approach.
These tax reforms are among the initiatives intended to reduce the burden on many Nigerians. Other efforts include conditional cash transfers to vulnerable groups and significant investment in the Compressed Natural Gas (CNG) initiative, which offers a more affordable alternative to petrol and aims to cut transportation costs—a major concern for many Nigerians as transportation is a pivotal factor driving the cost of living crisis.

Beyond these policies designed to mitigate the effects of subsidy removal and exchange rate unification, which led to the naira’s devaluation under President Tinubu’s reforms, the country’s foreign reserves have increased to about $38 billion, thanks to efforts by the finance team, including the Central Bank of Nigeria (CBN). The heads of the two economic management organs of goverment Wale Edun and Yemi Cardoso have also reported positive developments in some of economic fundamentals of our country such as the percentage of income dedicated to debt management dropping from 92% to 68% and positive Foreign Direct Investment, FDI inflow into the economy.

Despite these highlighted improvements and efforts to create a safety net to cushion the impact of reforms on the poor, the nation faces widespread socioeconomic challenges, leaving many Nigerians struggling. However, it’s important not to succumb to a victim mindset in these difficult times. As humans, survival often comes from being cautious of the unknown, but psychology suggests that thriving requires a shift to a determined, “no retreat, no surrender” attitude to adapt to tough circumstances.

For too long, many Nigerians have seen themselves as victims of harsh government policies without acknowledging their own role in the current situation. While the economic difficulties affecting a large portion of the population have roots in the actions of corrupt officials and politicians, they are often facilitated by citizens who sell their votes during elections, making many complicit in the cycle of corruption that has hindered progress in the country.

This complicity makes all Nigerians, in a way, participants in the consequences of corruption, which is widely recognized as a major barrier to the country’s development. The challenge is one of shared responsibility of all citizens, as corruption pervades government institutions, political offices, and electoral processes.

This issue of wrong headed policies hobbling productivity and promoting consumption as well as unbriddled graft in the public sector have significantly stalled progress throughout Nigeria’s 64 years of independence, and the current administration is attempting to address it through significant reforms. While a direct confrontation with corruption may not be the immediate priority of incumbent administration due to the need to priotise and focus on key areas, such as reducing financial leakages, increasing revenue through higher oil production, job creation to lower unemployment (currently at 33%), and curbing inflation (now at 32.7%), the fight against corruption can become a priority once these initial goals are met.

By and large , while the country continues to face considerable challenges, in many ways, all Nigerians are implicated in the systemic dysfunction that has marked the nation’s history since independence and we must resolve to collectively move our country forward by making the sacrifice today for a better tomorrow.
Let me explain why it’s essential for us to step out of our comfort zones and confront the turbulent times brought on by ongoing reforms necessary to build the momentum needed to overcome current challenges. No one enjoys undergoing surgery, but sometimes it’s the only way to cure a serious health issue, leaving one with no choice but to accept it in hopes of regaining health after the removal of a tumor or cancer.

This analogy mirrors the situation many Nigerians face today. It’s a hard reality for many to accept, but life is becoming increasingly difficult and we must seek to rise above the fray. While there is hope for improvement, the widespread complaints about the current hardships are alarming. Many Nigerians are anxious about the long and challenging road ahead before they can transition from hardship to prosperity. This concern was echoed and further accentuated by Indermit Gill, a Senior Vice President of the World Bank Group, during the recent Nigerian Economic Summit Group’s 30th anniversary in Abuja from October 16-18.

Gill’s prediction that it will take Nigeria 10-15 years to achieve economic relief may dampen the spirits of those of us who believe that after two years of reforms, the economy will start to improve. Our optimism is based on the expectation that significant benefits will emerge after 24 months of transformative reforms.
However, the World Bank’s lengthy forecast of 10-15 years for economic momentum can be disheartening for those of us who see light at the end of the tunnel. Consequently, we encourage our fellow citizens to be patient and resilient, as the groundwork for a better life has already been established and is beginning to show promise based on the new economic indices-increased oil production, reduction in percentage of income applied in debt service from 92% to 68% and ramped FDI inflow.

It’s important to note that the 10-15 year timeline for these reforms to bear fruit as postulated by the World bank official is a general estimate used by development experts and economists. This period could be shorter, as evidenced by how the introduction of GSM services by early providers like Econet (now Airtel) and MTN in Nigeria exceeded expectations due to unique factors in our economy.

Additionally, we should remember that during the early stages of the COVID-19 pandemic, experts, including Melinda Gates from the Bill and Melinda Gates Foundation, predicted widespread fatalities in Africa, including Nigeria. Fortunately, the actual death toll in Africa was much lower than in technologically advanced countries like the USA, which suffered over a million deaths.

Furthermore, it’s worth recalling that an American think tank, led by former Nigerian envoy Ambassador John Campbell, had forecast that Nigeria would disintegrate by 2015. Although Campbell later clarified he did not make such a definitive prediction, Nigeria has surpassed that timeline and remains united.
To summarize, the extensive socioeconomic reforms implemented by the current administration since May 29, 2023—about 18 months ago—are aimed at resetting our nation. This effort is crucial because we have been on the wrong path since the military coup of 1966, just three years after becoming a republic in 1963 and six years post-independence from British colonial rule, which began in 1885 following the Berlin Conference that partitioned

In my opinion, the presidency shouldn’t be overly concerned about President Tinubu being nicknamed “T-Pain” by Nigerians feeling frustrated by the hardships. As humans, we naturally respond to pain and pleasure, so those suffering from the impacts of the president’s stringent reform policies have every right to express their feelings in whatever manner they choose.

If calling the president “T-Pain” provides some comfort to those affected by the reforms, even if it seems a bit harsh or playful, then that’s acceptable. Psychologists might suggest that this nickname could serve as a coping mechanism for Nigerians facing tough times. Perhaps, if President Tinubu successfully navigates the current economic turmoil, he could eventually earn the title of “Miracle Worker” from those who once referred to him as “T-Pain.”
Given this context, criticizing leaders is part of the political landscape and can serve as comic relief in an otherwise grim situation, even if the humor has a darker edge. Wasn’t it the same Tinubu, during his 2022/2023 presidential campaign, who was mocked for allegedly speaking nonsense, like “bala bulu”? Did he attempt to halt the spread of such disinformation?

For many Nigerians, it has been an eye-opening experience to realize that the opposition’s claims about Tinubu’s slurred speech as a sign of a serious health issue were unfounded. After winning the election in May of last year, he suddenly became articulate. It was as if a magic wand had been waved to eliminate the health issues his opponents claimed he had.
It is now evident that the allegations of Tinubu’s incoherence during the campaign were fabricated and part of the political gamesmanship of that time. I believe that just as he overcame those pre-election attacks, he will also succeed in improving the economy and, consequently, the living standards of ordinary Nigerians in the near future, barring any unforeseen circumstances.

Moreover, President Tinubu’s predecessor, Muhammadu Buhari (2015-2023), was also labeled ‘Baba Go Slow.’ Goodluck Jonathan (2010-2015), who Buhari succeeded, was called ‘clueless,’ and his wife, Patience, was mockingly referred to as ‘hippopotamus.’ Similarly, Gen. Ibrahim Babangida (1985-1993) was nicknamed ‘Maradona’ after the famous Argentinian footballer known for his exceptional dribbling.

It’s worth noting that the practice of assigning negative labels to leaders by their constituents is not unique to Nigeria. Similar instances have occurred in the United Kingdom, where the late Margaret Thatcher (1979-1990) was given the title ‘Iron Lady’ due to her lengthy battle with powerful labor unions that dominated the workforce in the UK before her time at No. 10 Downing Street, the residence of the British prime minister.

In the USA, former President Ronald Reagan (1981-89) had the moniker ‘Nuke Head’ attached to his name because of his perceived penchant for starting wars during his tenure.
In light of the above, nicknaming political leaders by those they lead is not an anathema but a universal phenomenon, as outlined above. Therefore, the Nigerian presidency cannot stop or ban by fiat those who are expressing their angst or resentment towards President Tinubu and referring to him as T-Pain, as my good friend Mr. Bayo Onanuga, Special Adviser to President Tinubu on Media and Publicity, is reportedly trying to do.

After all, President Tinubu is also popularly called ‘the Jagaban,’ and I believe he is unperturbed by the nickname—whether it portrays him in a positive or negative light.
Back in the days when then-Information and National Orientation Minister, the late Dr. Dora Akunyili, did not find it acceptable that our youths had rebranded Nigeria in their own lingo with the moniker ‘Naija’ and she banned it and tried to stymie it, she failed to succeed. As it turned out, her disapproval of the use of the term ‘Naija’ by our youths as an alternative to the name Nigeria was an exercise in futility because the nomenclature—‘Naija’—is apparently here to stay, as evidenced by its continued use against the dictate of the then-minister’s fiat or diktat.

One cannot help but recognize the resilience of Nigerians and their ability to navigate tough times, as evidenced by the numerous video skits and comedies dominating TikTok and other social media platforms.
The referenced comics that are making light of the otherwise very rough times that a critical mass of Nigerians are going through are, believe it or not, helping to diffuse the palpable tension in the polity. The rib-cracking jokes and comedies are too numerous to catalog in this piece. But one can bet that hardly anyone engaging with social media has not come across content parodying the dire straits in which Nigerians find themselves as they navigate the new environment created by the reform measures of President Tinubu’s administration, which are expected to ultimately help reset Nigeria.

Although the reforms are taking their toll on Nigerians today, Tinubu’s Renewed Hope agenda’s goal is clearly to be the harbinger of prosperity for our compatriots and posterity. As optimists, we pray that this mission is realized sooner rather than later. Already, inflation is ebbing, and our national debts are being paid off. Hopefully, bank interest rates will drop when the Central Bank of Nigeria (CBN) decides to ease the tight monetary control measures it introduced to rein in inflation following the convergence of the two foreign exchange windows inherited from its predecessor resulting a massive devaluation which has made the economy flush with naira.

Sometimes, the bad things that happen in our lives put us directly on the path to the best things that will ever happen to us. Social scientists refer to this as Post-Traumatic Growth (PTG), which is a positive transformation that can occur after experiencing adversity, trauma, or challenges. This manifests in the form of increased resilience, coping skills, and purpose, such that losing a job sparks entrepreneurship and success by adopting an attitude of resilience, as enunciated by Friedrich Nietzsche: “What doesn’t kill me makes me stronger,” and “Fall seven times and stand up eight,” which is a Japanese proverb.

The quotes above underscore and illustrate that adversity is not a dead end but a detour, because challenges can foster growth, wisdom, and strength—every experience, good or bad, shapes us. As we all get tossed up and down by the turbulent waves of hardship that have been occasioned by the incumbent administration’s socio-economic reform measures, we must develop coping mechanisms that will enable us to thrive in the face of adversity. It is worth remembering that, as human beings who must learn to respond to change, whether good or bad, our primary focus should not be on the hardship we are currently experiencing, but on how we respond to it and grow from it.

President Tinubu has assured us that he is diligently working to alleviate these difficulties through various relief measures aimed at easing the impact of his bold but difficult policy changes.
Of course, no person is without flaws, and President Tinubu, like all humans—especially those in politics—has his imperfections. However, his commitment to steering Nigeria out of its current economic struggles is evident. His success, however, depends on the support of the citizens, who must stand by him as patriots.

Therefore, I urge everyone to exercise greater patience, as the president is indeed responding to the concerns and struggles of the long suffering masses. He has been making adjustments, such as replacing underperforming ministers, setting clear performance benchmarks, and reducing government expenses by reducing number of people on entourage of officials and foreign trips to only critically important ones , as well as limiting official cars and security details—steps that many of us have long advocated for. Even then, like the proverbial Oliver twist some Nigerians are still asking for more by demanding for radical changes in the cabinet and drastic cut in cost of governance from President Tinubu who has continuosly averred that he is not soliciting the sympathy of Nigerians because he asked for the job, but appealing for the patience and support of the critical mass of down cast Nigerians to deliver on his mandate, which is a fair requirement and l urge us all to oblige him.

Magnus Onyibe, an entrepreneur, 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, sent this piece from Lagos, Nigeria.
To continue with this conversation and more, please visit www.magnum.ng.

‘He is a fool who trusts to luck; one should play a safe game.” — Leo Tolstoy, 1828-1910, VANGUARD BOOK OF QUOTATIONS, VBQ, p 62.

“Fools rush in where angels fear to tread.” — Alexander Pope, 1688-1744, VBQ 

Sometimes a national matter likely to affect the fortunes of millions of Nigerians comes up requiring the insight of sages from time immemorial. Fools have always been separated by sharp operators since cowry shells, gold and silver were the legal tenders. There will always be fools and clever men to fleece them.

Paradoxically, the best time to defraud people in any country is always during serious economic downturn such as we are experiencing right now. That is when those promising miracle financial solutions have the opportunity of making them poorer while fattening their own pockets. The primary duty of media people remains the same — to protect the people by informing them, educating them and presenting the basis for them to make intelligent decisions instead of falling prey to economic predators. Because banking is central to the economy, it is naturally the first point of departure today. We end with the sector which is driving everybody round the bend right now — refineries. Sandwiched between them is my former home — breweries.

Banking — All that glitter is not gold

“World Bank warns about Non-Performing Loans in Nigerian Banks; Reaching 5.10 per cent – above prudential limit.” — Report, October 22, 2024.

The report went on to say that: “The banking system’s capital buffer zone has been eroded due to high inflation, significant depreciation of the Naira and the increase in the NPL ratio.” That is bad news; and it is closer to the truth about the situation with Nigerian banks than all the false advertisements about 100, 200 per cent increase in profits. Because banks are now in the capital market raising funds in order to meet the capital requirements established by the Central Bank of Nigeria, CBN, there is an urgent need for them to “show” significant improvement in profits in 2024 and 2025 in order to lure the unwary into the net.

We have had such swindles before; as recently as 2005 in fact, when in order to meet the baseline N25 billion capital required by the CBN, all the banks issued IPOs promising three things: higher profits in the future, share appreciation and high dividends in exchange for over-priced shares. Today, AMCON is still battling with N5trillion toxic loans dropped on the CBN by the consolidated banks. What’s wrong with that? Well, everything.

The same surviving banks, which left the public with their mess to carry are now back in the market demonstrating one most vital sign of distress as in 2008-9; when they announced huge profits while piling up Non-Performing Loans, NPL. The directors bear different names; but, it is clear that most of those now in charge are clones of the former looters of the 2008-9 period. One of the earliest banks, in particular, should be avoided. Control has shifted to those who openly confessed to share manipulation years ago. I fear for those buying its shares!!!

Otherwise, why have the banks not revealed the NPL crisis which will get worse as bank interest rates continue to climb and revenue declines for others?

The deception about the capital base is an open conspiracy exposed by the World Bank. In May 2023, when the CBN insisted on keeping the official exchange rate at N420/US$, the black market rate was already near N700/US$.

Today, despite the CBN’s efforts to unify the rates, the official rate is N1600/US$ and the parallel market rate is N1720/US$. So, a bank whose share capital in 2023 was N10 trillion or $23.8 billion; now is worth only $6.250 billion.

That is without factoring in inflation as the World Bank has mentioned. In short, what the banks are publishing amounts to illusions of progress and nothing more.

Breweries 

suffering from lasting hangover

“In all things, one must consider the end.” — Jean De La Fontaine, 1621-1695, VANGUARD BOOK OF QUOTATIONS, P 47 available online.

In the nineteenth and early twentieth centuries, nobody would have believed that cigarette smoking in public would be outlawed or that the manufacture of the product would be in absolute decline. Today, most young kids under the age of ten would not know what is done with the object if they stumble on it. Breweries are racing to catch up with cigarettes in the industrial graveyard. It is painful to me as the Marketing Manager of three breweries and a Consultant to a fourth in the 1980s. Naughty by nature, the sales/marketing staff of a brewery are the only members of staff of any company who are provided with all the beer and stout they can drink, free; and still get well paid at the end of the month.

As manager, and the one allocating beer to customers from five-star hotels to Army, Air force and Navy Officers’ Messes nationwide to local hotels and beer parlours, everywhere beer is consumed was an extension of my office. On several occasions, I would finish an appointment with the Manager of Hamdallah Hotel in Kaduna, and five minutes after be at a drinking outlet at the motor park. I was at home everywhere; and I was a spy 24/7. I got close to my customers in order to know as much as possible about the consumers. Invariably, I would return home or to my hotel if on tour to jot down observations. Home and hotel were interchangeable to me because I spent 70 per cent of my time on the road — particularly weekends when beer consumption was highest. Tuesday and Wednesday were my off-days. There was a strategic reason for that.

The preamble is to warn potential investors in brewery shares to be careful. To be candid, for breweries in Nigeria today, the party is over for reasons too long to squeeze into one third of a column. Get in touch if you want to find out more.

Don’t blame God or bad luck; blame yourself if you lose your shirt.

Rrefineries are coming; run away

“If you shut up the truth and bury it underground; it will but grow and gather to itself such explosive power that, the dav it bursts through. it will blow up everything in its way.” — Emile Zola, 1840-1902. VBQ.p 255.

For decades, Nigerians had been convinced that the price of petrol, N185/litre on May 29, 2023 would drop once the nation’s four refineries start producing fuel once again. That assumption rested on three fallacies. One, Nigeria has no refineries. We keep maintaining, at great cost, scraps called refineries. Two, even if resuscitated, they would never produce 18 million litres of fuel — which is their maximum capacity. Being old and small, compared to global refineries, they lack the economy of scale which will drive down the cost of production. Three, the Kaduna refinery is the wrong refinery, in the wrong place and for non-economic reasons. Altogether, the four will never deliver enough fuel, consistently and at the right price, without subsidies to meet all our requirements. So, beware; if the Federal Government decides to sell them, as they must. Don’t waste your money on them. Give the money to a university instead.

Private refineries are just a little better in terms of investment. Collectively, they are coming on stream at a time when petrol is going the way of cigarettes. In less than ten years, anybody driving a petrol/diesel vehicle in the US, Europe, China and most of Asia will be arrested. The world is racing to hydrogen, ammonia, ethanol, methanol and even water. Investing in petrol/diesel refineries amounts to throwing your hard-earned money into the river. Give them to a school.

In part 1, we laughed, cried, and side-eyed the naira together. But now it’s time to get practical. Because while we can’t stop the naira’s wild ride, we can at least make sure it doesn’t leave us stranded. Whether you’re a young professional eyeing dollar gigs online or a retiree looking for secure cooperative investments, there are options for everyone.

No one strategy is fool proof, but by combining small, steady investments, you can start to dig your way out of a hole. So, while part 1 of this article may have felt like financial survival, part 2 is all about taking control. It’s time to make your money work for you, even in naira. You can build a hedge against the naira’s unpredictability.

So, how do you hedge against inflation and naira devaluation in today’s Nigeria without feeling like you need Jeff Bezos’ wallet to get started? Let’s get into it.

Warning: Seek the services of a professional financial adviser when considering your investment strategy. Any names of companies or apps shared are only intended to be examples for illustration, rather than recommendations.

1. Earning in FX is the ultimate currency hedge

Let’s start with a game-changer: earning foreign exchange (FX) income. Forget gold bars or offshore investments, earning in dollars or euros is the ultimate currency hedge. And no, you don’t need to pack your bags and head for Heathrow. Thanks to the wonders of technology, remote work is booming, and Nigerians are getting hired by international companies more than ever before.

Think about it, if you’re a software developer, graphic designer, digital marketer, or even a virtual assistant etc., there’s a global market hungry for your skills. Young Nigerian professionals, have you audited your skills set or talents lately to see which ones can be monetised? Websites like Upwork, Fiverr, where people look to higher high-quality freelancers are growing, and even LinkedIn are full of opportunities to earn in hard currencies while living right here in Nigeria. Having an FX income stream is the closest thing to financial sanity, and the ultimate financial cheat code.

2. Consider some real estate investments, even if you’re starting small

Real estate is always presented as the holy grail of investments. But if someone tells you to invest in a ₦100 million Lekki plot and your bank account laughs in response, it’s time to get creative. The truth is, you don’t need to break the bank to get into property.

Instead of going for  flashy high-rise apartments, start with smaller, more affordable locations. Think out of the box: Ogun. Oyo etc, or the outskirts of Lagos . These areas are growing fast, and land values are increasing steadily.. Some plots of land outside Lagos or in developing states across Nigeria are still affordable and provide a decent return in the long run. But make sure the due diligence around your purchase is watertight.

And if buying property outright is still too much, you could explore real estate cooperatives or co-investing. These co-ops pool funds from multiple investors to buy land or develop property, making it easier for everyday Nigerians to get in on the real estate game.

3. Play the local game with global impact through stock market investments

Stocks sound intimidating  if you’re a newbie. However, If real estate feels like too big a leap, investing in the NGX can give you exposure to some of the biggest local companies without the huge upfront cost.

Even better, you can target companies with international revenue streams. Think about companies that have significant foreign earnings, meaning their income isn’t just tied to the naira. This is crucial because companies with FX revenue are often better positioned to weather local economic storms and protect your naira-based investments. You don’t need millions to start, either; investing apps (happy to provide recommendations offline) let you invest with small amounts and buy fractional shares of both local and international companies.

4. Digital assets are an option for funds you can afford to lose

Now, this is a controversial one, but I’d be doing you a disservice if I didn’t mention cryptocurrency. Yes, regulators previously cracked down on it, but there is now an emerging spew of REGULATED and LICENSED crypto services and Nigeria's Securities and Exchanges Commission (SEC), earlier this year announced its plans to develop and launch a regulatory framework for crypto. Plus, let’s be honest: Nigerians are still finding ways to invest in digital assets, even if broad. For those who want to take on a bit more risk, crypto can offer a way to hedge against inflation by holding assets that are not tied to any specific currency.

But a word of caution; please do your homework. Digital assets can be highly volatile, and while you can make good returns, they can also take a nosedive. Remember to invest only what you can afford to lose. You should ideally not be spending your children’s education funds or your rent on speculative digital assets.

5. Diversify your income streams

We all know Nigerians are the kings and queens of the side hustle, and in this economy, it’s almost mandatory. Whether it’s selling on Jumia, freelancing, or starting a small-scale business, having multiple streams of income is one of the most effective ways to hedge against inflation.

However, try to have at least one side hustle that earns you dollars, but ensure there is no conflict with your 9-5. Even if your main job is in naira, something as simple as teaching English online (through platforms like Cambly or Preply) can give you access to foreign currency, or even dropshipping, where you sell goods to international customers without holding inventory.

The truth is, if you have only one source of income in Nigeria today, you’re walking a tightrope.

6. Don’t sleep on agriculture

With inflation driving up food prices, investing in small-scale farming, whether it’s fish farming, poultry, or even vegetable farming, can be a smart move. You don’t need to own acres of land to start. You can lease land in rural areas or even find and  join platforms like that allow you to invest in farms and earn returns.

In a country where food inflation is rampant, investing in agriculture doesn’t just protect your pocket, it contributes to food security. Plus, with more Nigerians turning to local produce due to import costs, it’s a sector poised for growth.

7. Gold and precious metals are not just for the wealthy

While gold might sound out of reach, you don’t need to buy a kilo to get in on the action. Platforms like RiseVest allow Nigerians to invest in fractional gold assets, so you can put in small amounts and still hedge against inflation.

Gold remains one of the best long-term hedges against currency devaluation, and with fractional ownership, you don’t need to have oil tycoon money to benefit.

8. Dollar accounts to keep your FX safe, but don’t hoard.

If you’re lucky enough to earn or have some FX savings, keep it safe! Domiciliary accounts in Nigeria allow you to hold dollars, euros, or pounds in your local bank. These accounts act as a natural hedge against the naira’s rollercoaster ride, preserving your wealth in stronger currencies.

Even if you’re not earning in FX, you want to consider converting small amounts of naira into dollars (when possible) and saving it up, but with a clear strategy for deployment such as in a eurobond or domestic USD bonds. You can also use platforms that allow you to access dollar-based investment funds, giving you exposure to global markets without needing to leave Nigeria.

9. Cooperative societies and rotating savings for those with low-incomes or at bottom of the pyramid

Let’s get old school. Cooperative societies and Ajo/Esusu (rotating savings schemes) are time-tested methods for hedging against inflation. These systems aren’t just for market traders, they often offer a practical way to pool resources, avoid relying too heavily on the naira, and protect your purchasing power. Cooperative societies, for example, often offer members access to low-interest loans or group investments in tangible assets, such as land or small businesses.

For retirees or those with fixed incomes, joining a cooperative can provide financial security and returns without needing to directly invest in high-risk ventures. These savings methods also provide the added benefit of a community-based support system, which is helpful in tough times.

Caution: Due diligence, and an understanding of the dynamics around, and promoters of these platforms, are a must

10. Investing in high-yield savings plans or fixed deposits may be better for retirees

For older Nigerians who prefer more traditional and low-risk investments, high-yield savings accounts or fixed deposit accounts at trusted financial institutions can offer better interest rates than the typical savings account. While inflation might still outpace these returns, they provide a safe and predictable income stream without the volatility of stocks or real estate.

Some banks offer special senior citizen plans with higher interest rates or tiered fixed deposits, which increase your returns the longer you leave the funds untouched. This is a relatively straightforward way for retirees to ensure their money grows steadily, even if it doesn’t beat inflation outright, offering them stability and peace of mind.

11. Cut the excess and prioritise needs

One of the most underrated but effective strategies to hedge against inflation and naira devaluation is simply practising prudent spending. It’s easy to focus on investment strategies without realising that controlling how much you spend is just as important. Start by auditing your current spending habits. Are there any expenses you can cut without compromising your quality of life? Whether it's reducing subscriptions, avoiding impulse purchases, or cooking more at home, small savings add up over time.

In today’s inflationary environment, needs must take priority over wants. While it’s tempting to keep up appearances, the reality is that mindful budgeting can prevent financial strain. Implementing a minimalist approach, purchasing only what you need and cutting out excessive spending on luxuries, can free up cash for more meaningful financial goals, like saving in FX or investing in assets with better returns. A little financial discipline now will save you from future headaches as prices continue to rise.

This approach can help create a buffer that will allow you to ride out inflationary pressures without feeling the pinch too much

Conclusion: The Key is Diversification and Starting Small

The above list is hardly exhaustive, and it’s possible that you’ve been there and done that. Good for you, and I really do hope you’re seeing the results.

For those who have not quite figured it all out, please remember that navigating inflation and naira devaluation isn’t about making one big, bold move. It’s about small, consistent steps. Whether it’s starting a legitimate side hustle, buying fractional shares, or saving up in foreign currency, the key is diversifying your income streams and investments.

The naira might have a mind of its own, but with these strategies, you can protect your finances and keep moving forward. And remember, you don’t need to be a millionaire to make smart financial moves. Just start where you are, with what you have.

Ultimately, the name of the game is flexibility, and as Nigerians, we’ve been winning at that for generations.

In part 3, which is the final instalment of my pounds to naira journey of shock, survival and adaptation, I step back to take a broader look at the intersection of economic survival, leadership, and governance in Nigeria.

Stay tuned!

[Culled from LinkedIn]

A critical point of contention is that, each time citizens raise concerns, they are met with excuses. Often, Tinubu’s administration places blame on the past administration led by Muhammadu Buhari, claiming that much of Nigeria’s current economic turmoil is a legacy of the former president’s policies. The Nigerian public, however, is growing tired of the constant buck-passing. This administration campaigned on change and transformation; should not they have had a clear plan to address the known issues rather than now shifting responsibility to Buhari’s government?

When a government is campaigning, it is expected that they fully understand the state of affairs in the nation. By the time President Tinubu assumed office, Nigeria’s economic and security challenges were no secret. The administration would have had access to detailed assessments of the nation’s debt, inflation rates, and insecurity issues, among other pressing matters. Nigerians are now questioning whether Tinubu and his advisors were truly informed or if the lofty promises were simply crafted to secure votes.

“Where is the Eldorado that was promised?” Was the campaign rhetoric grounded in a concrete, achievable plan, or was it merely a strategy to win the hearts and minds of an electorate eager for hope?

From fuel subsidies to security, several promises made by Tinubu’s team are yet to materialize in meaningful ways. During the campaign, Tinubu committed to phasing out the fuel subsidy, a move he argued would free up resources for critical sectors like healthcare, infrastructure, and education. However, the way the subsidy was removed, suddenly and without adequate palliatives for citizens, has only exacerbated the hardship for ordinary Nigerians. Fuel prices soared, affecting transport costs, food prices, and overall inflation, leaving millions struggling to make ends meet.

Additionally, the promises of improved security and economic growth remain far from realization. Insecurity continues to plague various regions, and despite pledges to create jobs, unemployment remains high, with little sign of the thriving job market Nigerians were promised. For the millions who believed in the vision of a better Nigeria, these unmet expectations have fueled disappointment and frustration.

Each time criticism mounts, the response from Tinubu’s administration seems to center on the challenges inherited from Buhari’s administration. While it is true that the previous administration left behind a complex set of issues, Tinubu’s campaign did not shy away from those realities. Instead, it promised to address them head-on. This constant buck-passing has begun to sound more like an excuse than a valid explanation.

One could argue that part of the duty of governance is to tackle inherited problems with pragmatic solutions, not to continually point fingers. Nigerians voted for Tinubu because they believed he had the competence and resolve to steer the nation out of crisis, not to witness another cycle of blame and delay. If the Tinubu administration was aware of the depth of these issues, then the question becomes, why didn’t they prepare adequately to address them?

The mood of the nation has shifted from hope to a growing sense of betrayal. Many feel that they were sold a dream of paradise only to wake up to the same struggles they faced before. And with every complaint being deflected onto the previous government, Nigerians are beginning to wonder if the administration truly has a vision for change.

As for promises made, but not kept, it is germane to recall in this context that Tinubu’s team pledged rapid improvements in infrastructure, economic reforms, and social programs that would uplift the lives of ordinary citizens. These promises created high expectations, yet so far, the reality has been marked by economic hardship, with inflation and unemployment on the rise.

In response to public outcry, the administration has rolled out several palliative measures, such as cash transfers and food distributions. However, many Nigerians argue that these efforts are short-term fixes rather than sustainable solutions. Without a comprehensive approach to tackling inflation and creating jobs, these palliatives seem to be little more than Band-Aids on a deep, systemic wound.

Beyond economic policies, Nigerians are also frustrated by a perceived lack of transparency in the government’s handling of public funds and resources. For instance, questions have been raised about how certain decisions are made, and whether they truly reflect the best interests of the populace. Transparency and accountability are critical to restoring trust, yet they seem to be in short supply in the current administration.

The Tinubu administration rode into office on the back of grand promises, pledging to usher in a new era for Nigeria. But as the months go by, the chasm between promise and performance grows wider, and Nigerians are left wondering whether they were misled. The repeated references to Buhari’s tenure as a scapegoat have only served to increase public skepticism. Many now believe that, if the administration lacks the ability or will to fulfill its promises, it should at the very least acknowledge its own shortcomings instead of shifting blame.

This cycle of broken promises and blame-shifting is taking a toll on public morale. Nigerian citizens, particularly the youth, who have already endured years of economic and political instability, are growing weary of waiting for the promised “Eldorado.” For many, the question is no longer about what Tinubu’s administration inherited but about what it intends to do to change the trajectory of the nation.

Nigerians are not asking for miracles, but they do expect their leaders to take responsibility. Each time the government responds to criticism with another round of blame, it chips away at the already fragile trust between the people and those in power. What Nigerians desire is a transparent and actionable plan that moves beyond campaign slogans and acknowledges the realities on the ground.

As President Tinubu’s administration moves forward, it must confront the hard truth: the time for excuses has passed. Nigerians want real answers and real progress. They want to know whether there is indeed a plan to build the Nigeria they were promised or if this vision of Eldorado was merely an illusion crafted to win an election.

In fact, while every administration faces its own set of challenges, true leadership is demonstrated by a willingness to take responsibility, adapt to unforeseen difficulties, and deliver on promises. Nigerians deserve no less, and as they continue to raise their voices, they are making it clear: this is not the Nigeria they were promised, and they will not stop demanding answers until they see the change they voted for.

Northern leaders converged on Kaduna State, on Monday, for a meeting to address the ongoing power blackout and other critical challenges affecting the region.

Real Madrid will not send Vinicius Junior or anyone to the Ballon d’Or event tonight.

The LaLiga giants “know” Vinicius will not be announced winner.

This was revealed by football transfer expert, Fabrizio Romano.

Romano wrote on his X account: “BREAKING: Vinicius Jr will NOT travel to Paris as Real Madrid know he will NOT win the Ballon d’Or.

“No one from Real Madrid will attend the ceremony.

“No Florentino Pérez, no Vini Jr, no Carlo Ancelotti, no Jude Bellingham.”

[DailyPost]

It is Wednesday, November 8, 2028. Crispy cold weather blanketed most of the United States, from the hills of West Virginia to the valleys of Southern California. In Miami and Houston, it was like someone poured ice-cold water on the ever-bubbling sunshine cities. The wind was demure, rivers sedated, and even the birds chirped with all modesty.

Yesterday’s presidential election results were the first in over ten years that either party contested. At midnight, just as polls closed on the West Coast and the Associated Press made their projections, the winner called the loser and sent a congratulatory message. All TV cameras, podcasts, and radio stations focused on that moment as if the nation’s fate depended on it. In the quiet streets of Alabama, in the chilly streets of New York, exhausted men and women returning from their evening shift listened to the exchange of phone calls between the candidates. The collective exhale for a moment warmed up the surface of the Niagara Falls.

America paused. Conservative and liberal news anchors all breathed a sigh of relief as they reported, each in their own subtle manner, the words that spelled the end of the great American nightmare. Nothing said on any television screen showed whether the station was in a blue state or red state. No commentator cared whether the election result was a blue or red wave. They all saw the first signs of what they hoped would be the first days of America’s resurrection.

The surprise was when the guys at Fox News reported that today, “America picks up its pieces and will spend the next few years putting them all back together.” It came out unscripted with genuine sincerity. He did not look over his shoulders as he said it. It was the same at CNN. The front page of the New York Post had the same headline as the front page of the New York Times. It had never happened before. They all proclaimed a new beginning for America.

It is the same story for the world. Diplomats around the globe went back to the drawing board. Presidents, Prime Ministers, Kings, and Queens had their secretaries fall back to a long-forgotten template as they crafted statements congratulating the newly elected American president. There was no need to sweat – just mundane words of best wishes. These were things that were not possible the day before yesterday.

Not even the historian with the most extraordinary foresight had imagined the transformation in just four years. It was like looking at a landscape after a significant hurricane had passed. The devastation was unfathomable. Rivers of democracy dried up. In some places, they took a different path. Pillars of global order, which had served the world for the last 80 years, were uprooted and placed in other locations. The shifting balance of power went off its fulcrum and altered the equilibrium so swiftly that the following earthquake had aftershocks still rattling.

But it wasn’t just bad things that happened. Great things also happened. The little fights that people who had too much food to eat were indulging in years ago ended. Those demanding Sharia law in Europe teamed up with those demanding an end to gay marriage in America to finally get what they wanted. It was a conservative world where smiles replaced fears, optimism replaced pessimism, and the weak became right while the might became vanquished. In this new world, climate fears vanished, and illegal immigrants learned to stay in their countries to fix them.

The rich kept their profits and happily donated what they wished to the poor. Without government overreaching hands, lakes and rivers cleaned themselves as nature designed them to do. The inordinate mixing of the races came to an absolute stop as every race, creed, and gender accepted their stations in life and lived within their own enclaves. With DEI buried, Indian, Chinese, and Nigerian first-generation students dominated higher education as poor white families in middle America joyfully cheered.

The heavenly landscape had sheep and lions share evergreen gardens where they recited Project 2035. With nuclear weapons hanging over their heads like piñata at a birthday party, everyone sang America the Beautiful. Even over-pampered kids behaved as parents regained the cane taken away from them since the days of the Renaissance. The final dethronement of empirical proof opened the door for scientific advancement achieved by faith and fiat. It was such a glorious feat that angels even appeared at the White House on Christmas of 2026.

Those concentrating on the few bad things that happened missed all the remarkable transformations of the new world. Once and for all, the conservative majority that took over squashed George Bernard Shaw’s irrational fear that there are two tragedies–not getting what you want and getting what you want, with the latter being the most devastating.

If only people had known that the world was at a tipping point on the eve of the 2024 election and had not taken it as one of those political talks that this was the most consequential election in a generation, they would have paid little more attention. But they didn’t. They thought it was business as usual, and their narrow personal interests were more important than our collective interests as humans.

And here we are. Wednesday, November 8, 2028. As senior party officials prepare to visit the White House to beg the president to invite the president-elect for the traditional visit to the White House, the bell at St. James Church chimes a dirge.

Rudolf Ogoo Okonkwo teaches post-colonial African history, Afrodiasporan literature, and African folktales at the School of Visual Arts in New York City. He is also the host of Dr. Damages Show. His books include “This American Life Sef” and “Children of a Retired God,” among others. His upcoming book is called “Why I’m Disappointed in Jesus.”

Managing the transitions of individuals between the public and private sectors has long been a subject of significant discourse globally. There is a broad consensus that when structured and managed effectively, the cross-pollination of individuals between these sectors can strengthen the operational capacity of both, allowing for the transfer of ideas, methodologies, and practices that can significantly improve governance, corporate strategy, and policy implementation.

However, this topic also invites strong debate due to its inherent risks, particularly concerning conflicts of interest, regulatory capture, and the potential erosion of public trust. The challenge lies in managing these transitions in a manner that preserves institutional integrity and maintains the overall effectiveness of governance.

At its core, the essence of public-private transitions lies in its ability to harness the complementary strengths of both sectors. When managed effectively and ethically, such movements can serve as catalysts for institutional reform, policy innovation, and the advancement of public and corporate governance. As Dr. Emomotimi Agama, the Director-General of the Securities and Exchange Commission (SEC), aptly noted, “Public-private transitions are not merely desirable; they are essential for promoting collaboration and innovation. The exchange of knowledge and expertise between these sectors can greatly enhance their respective capabilities, contributing to a dynamic and resilient economy.”

Nonetheless, the ethical complexities inherent in these movements must be addressed through robust regulatory frameworks, transparency, and an unwavering commitment to the public good. It is only with these safeguards that the full benefits of these transitions can be realised without compromising the integrity of either sector.

This topic was discussed extensively by senior representatives from both the public and private sectors, during a session I facilitated at the recent 30th Nigerian Economic Summit (NES). I was pleased to see such high levels of engagement from participants across both sectors, along with a strong commitment to ensuring that Nigeria’s regulatory structures are fit for purpose in managing these transitions.

The good news is that Nigeria has already established a strong foundation. The Nigerian Code of Corporate Governance (NCCG) 2018 provides for a comprehensive framework by mandating a three-year cooling-off period for individuals who have held senior regulatory positions before they can join private institutions that were directly under their supervision. This principle is reflected across specific sectoral guidelines within key Ministries, Departments, and Agencies (MDAs).

Stakeholders at the NES were aligned on the fact that this three-year period meets, and in some cases exceeds, global best practices, particularly when compared with Europe and other Western jurisdictions where cooling-off requirements tend to be more lenient, ranging from 18 months to two years. Some stakeholders even suggested that Nigeria’s cooling-off period could be adapted to allow more flexibility, such as reducing the cooling-off period where the regulator did not have a direct supervisory role over the company involved.

While the acknowledgement of the strength of existing regulations is encouraging, there appears to be a general lack of awareness regarding their existence and application. This knowledge deficit can lead to misconceptions about non-compliance, potentially eroding trust in market integrity and weakening the credibility of regulatory systems. Furthermore, there is limited clarity regarding the enforcement of these rules, and it is important that the ecosystem understands and implements the enforcement mechanisms that ensure compliance.

The question for Nigeria, then, is how can we build on the foundations in place and introduce additional mechanisms that enhance public awareness and understanding while also strengthening the integrity of the process?

There are several ways to do this, and a strong opportunity to leverage the level of current interest and engagement across government, private sector and civil society to further deepen Nigeria’s leadership position in this area. But we must ensure that in our efforts to further strengthen, we find the right balance between public trust and the ability to leverage and grow sectoral expertise.

The first option is to consider the establishment of a formal assessment procedure which could help determine the appropriateness of such transitions on a case-by-case basis, ensuring that all movement between the public and private sectors is subject to rigorous ethical scrutiny. This approach would include a focus on conflict of interest regulations, mandating the disclosure of any relationships and interests that may influence decision-making.

The second option is to move away from a one-size-fits-all approach to cooling-off periods to a model that allows them to be adjusted depending on the specific regulatory and economic context in question. Stakeholders at the Summit expressed considerable enthusiasm for this approach, which could involve longer cooling-off requirements in particularly sensitive cases, while allowing for shorter periods where conflicts of interest are less discernible. The approach to this needs to be standardised to guide implementation.

The third option is to consider how to extend regulation beyond simple formal influence. We have strong guidelines in place around formal transitions, but there is more ambiguity around other forms of influence such as indirect lobbying or consultancy work. There is an absence of clear and enforceable rules in this space that creates the potential for loopholes to be exploited.

Finally, we could consider a more proactive approach to enforcement, strengthening oversight bodies and reporting requirements and imposing greater sanctions for violations.

It is important to note that each of these recommendations is not an indication of a deficiency in the existing framework. Nigeria’s regulatory structure is already competitive on a global scale. However, we must take a dynamic approach and constantly consider the innovations required to embed integrity into the system, to enhance awareness and build public trust. If we do so well, we can realise the immense benefits of cross-pollination between the public and private sectors, for the benefit of Nigeria, and all of its people.

Ajogwu is a Lagos Business School Professor of Corporate Governance.

“The president may change his team every hour like a child’s diapers. It won’t make his government work well unless he himself sits up. He should teach himself how to enlarge his vision beyond the narrow tunnel that opens at his backyard and ends inside his dockyard. We won’t stop telling him and the other owners of today that leadership is about service. It is not about how much they have locked up in their strong rooms and how many billions they spray in arrant oppression of the poor. We will keep reminding them of life after office. And that as they rule the town, they should endeavor to rule their homes also. Collapsing state affairs into the affairs of their home endangers the wellness of all”.

Patient walks unaided into the doctor’s consulting room. Patient soon suffers mismanagement. She goes pale and jerky, unconscious. Doctor gives his best shot – or so he claims. Patient is not responsive. Doctor strolls off, leaving the patient to sip his tea. Doctor comes back and sees worsening symptoms: Cold hands. Weak pulse. Fatigue. Incontinence. Dyspnea – respiratory distress. Restlessness. The clock ticks, and the patient’s condition deteriorates. Doctor sets up a symptom control team. Symptoms persist. Patient’s relatives accuse the doctor of incompetence and negligence. Doctor denies all charges and promises to do something. He ponders and sacks members of the symptom control team. A few other nurses also kiss the canvas. Doctor looks into anxious eyes and tells everyone that with that step he has taken, the sick should be well soon. The leader is the physician; the country they tend to is the patient.

Where vigilance tanks, a bad government is easily replaced with something worse. It is the same with team management. Where the leader is easily distracted or he distracts himself, a mortician calmly slips into the delivery team. In Ibn Butlan’s ‘Doctors’ Dinner Party’, we read of a certain gentleman who proclaims himself doctor after recovering from an illness. The story teller says: “God said to him: ‘Become a physician and destroy people! Take sick man’s money — that’s excusable — and send him to the grave.’” Doctor becomes rich, ostentatious and gilded. Author notes other things and prays: “God protect us and you from the misfortunes wrought by his hands…” A government with demonstrable lack of competence and empathy is a killer hospital. Its problem goes deeper than the names on its management list.

I refuse to join those whose drums are out because a cost-cutting president last week sacked five ministers and replaced them with seven. How is that oxymoronic step going to cure the nation of its chronic illness? I would rather seek therapeutic answers by asking why the sick fell into a coma. Was it the doctor’s fault? Or nurses’ wickedness? Or the consequence of the patient’s own life choices? Or the ailment is congenital? Or a combination of all of the above? If the fault lies with the caregivers, who then should sack whom? Who should be sacked? And, how is the sack of that someone going to correct the near-fatal error that has sent the country into this terrible distress?

Five ministers were fired last week by the big boss who hired them. I read celebratory posts from people mocking the sacked. Why should anyone be happy because someone fell from a height? People who inherited those widows danced and sharpened their teeth. The ones who lost their scepters sank into sofas of consolation: Every job must end one day either because the job takers are fired, retired or because they are hired elsewhere. Or as a consequence of death. I align with their logic. So, let no one rejoice that Tinubu asked five big men and women out of his powerhouse. Today’s hirer and the hired will also become ex one day. That is the solace of the dismissed.

As a consequence of that cabinet reshuffle, the government scrapped the Ministry of Niger Delta Affairs, and from its ashes has risen a humongous ministry in charge of regional development commissions. I call that new creation the ‘Ministry of Nigeria Affairs’ because virtually all regions will find rooms in its mansion. What sense does that make?

Certain big men in the Niger Delta are loudly condemning the scrapping of the Niger Delta ministry. One of them, Asari Dokubo, blames the whole of Bola Tinubu’s ethnicity for his government’s action. The agitator says in a purpose-made video that he would join forces with the North because “the Yoruba are betrayers.” Around the same time, I see the Muhammadu Buhari people loudly complaining about power outages in the North. They also throw innuendoes of the Yoruba as the cause and beneficiary of the darkness in the North. I saw all these and wondered why the angry wailers mistook the victim for the culprit. They are raining knocks on the head whereas it was the bottom that farted – Ìdí só, orí ni wón nkàn ní’kó.

Prolonged power outage is ongoing in the North. It is officially blamed on vandalism wreaked by bandits. The North can complain – and should complain if the state is failing them. But I find the Buhari people’s complaint particularly interesting – and galling. While in power, their principal was like Unoka, Okonkwo’s flute-loving father in Chinua Achebe’s ‘Things Fall Apart’. Achebe describes Unoka as a man famous “for the weakness of his machete and…hoe. When Unoka’s neighbours go out with their axe to cut down virgin forests,” the man sows his yams “on exhausted farms that take no labour to clear.” Such men, in Yorubaland, are identified with farming under the shade of palm trees. Where weeds do not grow, crops can’t do well there.

The Buhari corridor and all who egged on his regime or pressed the mute button while he was here should not insult us with complaints of lack of electricity, and should not make any demand on even the Tinubu government. I recommend to them the wisdom of Achebe’s Obiako. This character is told by an oracle: “Your dead father wants you to sacrifice a goat to him.” And, Obiako replies the oracle with indignation: “Ask my dead father if he ever had a fowl when he was alive.” Those asking for light today, was it not darkness they sowed yesterday?

That is for the fox, our angry Unoka. And, back to the cock of this regime. Where is the light it promised? It pledged to sanitize and fumigate the nation, north to south. When is that going to be?

With this government, austerity means ostentation. It’s been churning out one regional commission after the other while wearing the lapel of a lean government. On 26 February, 2024, President Tinubu presided over a meeting of the Federal Executive Council. We were informed after that meeting that the president had ordered a full implementation of the Stephen Oronsaye report which demanded a reduction in the number of federal government agencies. In furtherance of that directive, we were told that the president had constituted a committee to effect certain agencies’ mergers, scrapping, and relocations within 12 weeks. Today is 28 October, 2024 – eight months, two days after that directive, nothing serious has been heard of that directive. Or did I miss something? Instead of doing what it announced and celebrated with pomp, what we had last week tells how the government rates our intelligence.

On June 5, 2000, despoiled Niger Delta was given a development commission as its balm of Gilead by the Olusegun Obasanjo government. Because that troubled region had that commission, insurgent-wracked North-East demanded its own from Buhari and got it in 2017. Because the North-East got it, the South-West demanded its own from Tinubu and got it last month. The South-East received its own; the North-West also has; the North-Central too – all from Tinubu. This is one government that actively sells laxative but sees nothing contradictory in its eating mountains of pounded yam. Why do we need regional development commissions? I recently asked an ègbón, an Emilokan, if he sincerely thought a South-West Development Commission would be of any usefulness to the people of the region. His response: “Create another opportunity for sleaze among Yoruba politicians and their business associates. I was fundamentally against it but aligned eventually on the basis of ‘what is good for the goose…’ If the other regions are being awarded cash cows for the boys, why not us? When Nigeria becomes serious about development, we’ll jointly scrap all such distractive wastage…” I am sure if you asked around the other regions and your subject is as truthful as mine above, you would get the same answer. Now, what kind of country is this? And what kind of government cuts costs by increasing them?

Hunger dusts up strange, dangerous ideas. People’s suffering is unremitting. If a government functions as people’s undertakers, why should the people desire it? Why do we even need a government? Because it was failing tragically, a radio station in Poland recently stopped using human beings for its operations. It sacked all its journalists and did something novel. Last week, it brought in Artificial Intelligence (AI)-generated presenters. The result has been magical. A Nobel Laureate who died in 2012 was made to present a popular programme on that radio station last Tuesday. The audience heard him and applauded the undead.

Now, should we really have ministers as many as the sands of the desert? Can’t we live without the hordes of overpaid, overfed officials of the state? Or sell them to buy what eludes us? Those extreme questions you may find in every mouth that hasn’t tasted food since yesterday. And, truly, a government that fails in fulfilling its social contract with the people is not a government; it is a gang of pirates like the one led by one-eyed, one-legged Long John Silver in ‘Treasure Island’. John Silver sails under The Jolly Roger – pirates’ flag with white skull and crossbones; the ones here are at sea with our Green White Green. That is the sole difference.

The president may change his team every hour like a child’s diapers. It won’t make his government work well unless he himself sits up. He should teach himself how to enlarge his vision beyond the narrow tunnel that opens at his backyard and ends inside his dockyard. We won’t stop telling him and the other owners of today that leadership is about service. It is not about how much they have locked up in their strong rooms and how many billions they spray in arrant oppression of the poor. We will keep reminding them of life after office. And that as they rule the town, they should endeavor to rule their homes also. Collapsing state affairs into the affairs of their home endangers the wellness of all.

Basorun is the second in command to the Alaafin of Oyo. He may not be king but he rules his corner like a king. And, because power is wine, sweet and strong, it intoxicates the entire royalty. There was a Basorun Gaa in Oyo history whose sons reigned more forcefully than even the Alaafin. Samuel Johnson, author of ‘The History of the Yorubas’, records an instance: “One of them once engaged a carrier to whom he gave a load too heavy for him to carry, but he dared not refuse to do so. He walked behind the man, amusing himself with the sight of the man’s suffering from the weight of the load. He remarked in jest that the man’s neck had become so thick that he doubted whether a sword could cut through it. He suited his action to his words, drew his sword, and actually tried it! The man was decapitated. His body was left wallowing in his blood, and another man was compelled to take up the load.”

Powerful people see nothing wrong loading helpless people with super excess luggage. They call it sacrifice. They also won’t mind trying their swords on the calcified neck of the burdened- just to prove the point of their almightiness. They swim in mindless insouciance yet they deceive themselves with silly assurances of permanence. To them, every warning is a dangling, swirling sword, an act of treason. There was a king in a Yoruba kingdom who came with a name that defies death. He was Oba Maku (Maku means Don’t-die). The king launched his despotism the very day he ascended the throne. Because he was a king whose ways were not his people’s ways, the people soon skirted death around his name and turned it into a song. From street to street, loud was the echo of ‘When will Don’t-die Not die?’ I say that in Yoruba: Ìgbàwo ni Maku kò níí kú sí? The man reigned for only two months.

The impermanence of nothing is the consolation. Every era, no matter how painfully long, will eventually end. General Francisco Franco ruled over Spain from 1939 until his death on November 20, 1975. He was a dictator with a vast network of spies home and abroad. He muzzled the press and muffled the gong. Because his reign was long and very eventful, he never believed it could end. And when death was drawing his curtain he denied it was his door death was knocking. Oriol Pi-Sunyer captures that moment well in his ‘Political Humour in a Dictatorial State’ (1977). He writes: “In the final hours of his life, Franco becomes aware that a crowd is forming in the street outside his chamber. The semiconscious dictator asks an attendant what the subdued sounds are – ‘It is nothing, Excellency, just some people passing.’

As the crowd grows and the noise increases, this fiction cannot be maintained.

Franco: ‘I insist you tell me what is going on outside.’

Attendant: ‘The people, Excellency.’

Franco: ‘The people?’

Attendant: ‘Yes, the Spanish people.’

Franco: ‘What are they doing?’

Attendant: ‘The Spanish people have come to say goodbye.’

Franco: ‘Oh, where are they going?'”

“Against excellence in another [person], there is no way of defending ourselves except love.” Johann Goethe, VBQ, p 51.

This is the third time I have fallen in love with an artist/philosopher long before meeting him. The first and ever abiding one was Uncle Sam; the second ever green Victor Attah. This one coming so late in the day is God’s parting gift to me, and on the way out. I have only felt so happy about meeting a person for the first time five times in my life before.

Meeting Mudiaga Enejemo, Mudi, might be the last time before curtain call. Just as well. He is absolutely unique; just as each of my heroes are in their own ways. Henceforth, I can never pass through Mudi Lane, Anthony Village, named after the fashion/artist, philosopher without having the thrill a deeply religious person experiences when gazing at the symbol of their fate. I adore great artists and philosophers.

It was providentially pre-ordained that we should meet eventually. For years, I have been curious to know who owns the most beautiful work of art, a building, in Anthony Village, and one of the best in Nigeria, when it was built at the spot.

Of one thing I was sure; an artist who owns it. The two always well-manicured and tantalisingly green lawns in front, neatly marked off with snow white boundaries; the walkway between the two with small artworks on both sides; leading to the glass and chrome front door reveal a soul that like all great artists is fanatical about details. In my wildest imaginations, I thought it was a Museum; but there was no sign to that effect. I would have found a clever reason in my younger and more adventurous years to walk up to the door and ask questions.

Old age has its drawbacks; among which is fear of being ridiculed for suffering from dementia. Yet, deep in my heart, I wanted to enter that building; to find out more of the treasures that I instinctively knew were hidden behind those exquisite light grey walls. On Wednesday and Thursday, October 18 and 19, 2024, all my prayers were answered. I met the owner of the mysterious building and the next day, I was admitted into the building by Mudi himself. Nobody who had won the lottery could have been happier than me on that day. Everything inside the building surpassed my expectations – including my quiet prayer the night before that he would use white for the interior. It was all white inside; spotlessly white against which other artworks were set.

Even the avocado green guitar, like paintings on the wall and other works, was obviously in the right place. The visitor is challenged to find a speck of dust on the floor or a dark mark on any white wall. It was like being in a great Cathedral. You are awed by the fanatical attention to all the other details before you realise that Mudi is one of the most successful fashion designers in Africa. Our meeting was indeed providential; and later, I intend to show how the interview cast some light on the gloom which had descended on the nation since the World Bank asked Nigerians to abandon hope.

I was at Uncle Sam’s place for a meeting with Barrister Adegbite, who now spends eighty five per cent of his time attending to fish matters instead of legal briefs. Uncle Sam, who once stumbled into fish business and was bundled out of the sector, wanted to help the lawyer – who was in a fix. I was also in the fish business; until the great flood in Ibadan destroyed the fish ponds and all the fish swam away, undoubtedly into cooking pots somewhere free of charge. Olu Domingo was also there. A Nigerian-Italian, who must leave other nationals puzzled. “Italians are rascals everywhere in the world”; as we have been told. Nigerians are hardly welcome anywhere in the world; even in Ghana, South Africa, Libya or Republic of Benin. But, just as chlorine and sodium are deadly when swallowed, the combination gives us common salt – indispensable. Olu is like a rough diamond which, with the smallest brush, reveals the glitter beneath the surface dirt. A delight to meet. He was there also to join the fish rescue effort.

REMARKABLE DAYS

“I hate ingratitude more in a man than lying, vainness, babbling drunkenness or any taint of vice whose strong corruption inhabits our frail blood.” William Shakespeare, 1564-1616, VBQ p 103.

Suddenly, two guys stormed the balcony. One was in conventional outfit; and he was carrying hampers. The other was dressed in black trousers with all the pockets out and a dark yellow designer shirt with several logos. He struck me as an artist. It was Mudi; the man I had been dying to meet. It was the 30th anniversary of his business and he had brought the gift to Uncle Sam – the man who had not only encouraged him, but who actually gave him 100 dollars on the first visit to his studio. I always fall for anybody who demonstrates gratitude to those who helped along the way to the top.

And, here was a winner coming to express appreciation to one of those who built his ladder of success in stead of kicking them in the head as we frequently observe among politicians. More than ever, I decided to know more about him. I called Uncle Sam after the fish business to request for his phone number; in order to do what the media worldwide is established to do. Among our duties is to discover and promote talented people whenever and wherever we find them for economic and social development. I called him and requested for an appointment; which he readily granted for the next day. For me, it will remain one of the most remarkable days since starting as a media person in 1987. I got more than expected. Very rare.

THE ESSENTIAL MUDI

“A well written life is almost as rare as a well-spent one.” Thomas Carlyle, 1791-1881, VBQ p 131.

I am not even pretending to be writing Mudi’s biography now. At 56, looking like 40, he would need that to be done. What follows is just a sketch of a life already well-lived at such a young age in a profession which most of us treat with disdain because there are hundreds of thousands of mediocre for each genius practising it. An hour in his place revealed to me how honourable the art going into fashion designing is compared to other aspects of art. Essentially, it is a matter of a man or woman exposing his soul through the medium in which he is gifted. Two great artists, in different areas, have helped me to write this section.

“We must grant the artist his subject, his ideas, his theme; our criticism is applied to what he makes of it.” Henry James, 1843-1916. VBQ p. 17.

To that profound statement about all artists by one of the greatest writers who ever lived, another master of the world of creative people wrote.

“Great artists have no country.” Alfred De Musset, 1810-1857.

Bob Marley, and Fela Anikulapo made music their subject; Bruce Onobrakpeya and Ben Enwonvu, 1917-1994 chose sculpture; Sa’adu Zungur, 1915-1958, Chinua Achebe, 1930-2013 opted for writing to achieve immortality; and to fly the national flag globally.

Mudi has embraced fashion designing heart and soul. And, he is already an artist without country; except perhaps continental in outlook. The light grey kaftan he had on during the interview could have been made by a gifted fashion designer in Pakistan, Azerbaijan or Mauritania. But, he created it. There was nothing conventional about it; yet it seemed absolutely appropriate for every place and occasion on earth. He brands his designs Afro-centric.

DESERVES A BOOK TO ELEVATE NIGERIAN FASHION GLOBALLY.

“If you want to live for ten years, invest in shares, if you want to live for thirty years, plant a tree; if you want to live for ever, write a book.” That was the advice of a sage from Asia. Let me add an amendment to the last – “if you want to live for ever write a book or have at least one written about you.” Then, you would not have lived in vain. Mudi provided me with the broad outline of his life and vision which cannot be reduced to one column. Here are a few. He was the first Nigerian/African designer to advertise on billboards and television; and the first to design clothes for four African Heads of States in three countries. His office/studio had been visited by the King of Morocco in 2019. He was the first to have shops outside Nigeria – in Ghana, Cote d’Ivoire and Kenya. His South African shop was closed down on account of xenophobia; copy cats trying to emulate his genius drove him out by attacking his place. There is no need to list seriatim all that this fellow, with only School Certificate has done for himself and nation in one article. I want him to become the first fashion designer to have a full length book written about him.

Want to join me? Come on board.

WORLD BANK AND FG; ABANDON HOPE

“With such friends, who needs enemies?”

The World Bank, while commending the Tinubu government has made three statements that have fundamentally damned the administration and dumped the RENEWED HOPE document into the dust bin. First, the bank declared that the world’s poor nations will need 100 years to escape poverty. Second, WB said that Emilokan’s reforms must be sustained for 10 to 15 years to achieve results. Third, the global financial executor announced that the Nigerian economy is running on three flat tires. So, no hope even if Tinubu gets two terms; the fourth tire has already fallen off and there’s no spare!!!! Safe trip Fellow Nigerians.