Fuji musician, King Wasiu Ayinde Marshall, aka KWAM 1, has been the official ‘palace entertainer’ for almost a decade. Evidently through the instrumentality of then All Progressives Congress (APC) National Leader, Bola Ahmed Tinubu, his ‘Nigeria, Sai Baba, Sai Buhari’ song that preceded the 2015 general election was a campaign anthem that also elicited an uncommon dance step from the man who would go on to defeat an incumbent president. Early in 2021, when it became obvious that APC bigwigs were plotting to edge Tinubu out of the race for the party’s presidential ticket, it was KWAM 1 who released a song of defiance, ‘On your mandate we shall stand, Bola…’ which has turned out to be prophetic. So, when the avid supporter begins to sound like a ‘wailing wailer’, there is fire on the mountain.

In a video posted on his Instagram page titled ‘A Special Message to Mr President,’ last weekend, KWAM 1 lamented the suffering Nigerians have had to endure since Tinubu assumed office. “Akanbi (Tinubu), my boss, please don’t turn a deaf ear to people’s outcry,” KWAM 1 sang in a mournful tone that speaks to the economic and security challenges in the country today. “Nigerians are angry. The Naira is becoming worthless. People are weeping and without electricity. How did we get to the point where Nigerians are now being kidnapped every day?”

The two sectors most critical to the survival of any nation (and their people) are economy and security. Nigeria is currently challenged on both. The security situation is so bad that kidnappers now enter palaces to kill traditional rulers and take away their wives while innocent school children have become game for these dare-devil criminals who operate across the country, including on street corners and major highways. The situation is worse on the economic front. Prices of even basic foodstuffs are now beyond the reach of most Nigerians. And things can only get worse, given rising inflationary pressure. Last November, the exchange rate for cargo clearance by the Nigeria Customs Service (NSC) was raised from N757/$ to N783/$, representing a 3.4 per cent increase. By December, it was raised from N783/$ to N952/$. That was a 22 percent increase within a period of just 30 days. By last weekend, the rate had been further jacked up from N952/$ to N1356/$! That represents a 43 percent increment within another month!

In his column, ‘Urgent Need to Halt Soaring Food Prices’ last Sunday, Waziri Adio painted a dreary picture of the current situation. He urged action lest we have a crisis on our hands. “In a country where 26.5 million people are officially classified as food insecure, where citizens spend 59% of their incomes on food and where 104 million people are classified as income poor, nothing can be more existential and more dangerous than sky-high food prices,” Waziri wrote. “The negative impacts on social stability, economic growth, human development and national security are simply too grave for the government not to swing into crisis mode.” And just yesterday, the gravity of our situation was brought home by the Permanent Secretary, Federal Ministry of Agriculture and Food Security, Temitope Fadeshemi. “The level of poverty in Nigeria is alarming. An estimated population of 88.4 million people in Nigeria is living in extreme poverty,” he said in Kaduna. “Overall, 12.9 per cent of the global population in extreme poverty was found in Nigeria as of 2022.”

Yes, it is difficult to fault the explanation of the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso on the forex situation. Especially given the abuse to which a regime of multiple exchange rates had been subjected by the last administration. Nor can we argue against the removal of subsidy in the downstream sector of the petroleum industry that has further pauperised Nigerians. But the cavalier way these decisions were taken without considering the consequences is what has led us to where we are now. The dire situation in the power sector was on Monday aptly captured, ironically by Tinubu’s own newspaper, The Nation: “Zero Megawatt to Discos cripples homes, businesses.” To worsen matters, public officials continue to live in opulence and recklessly spend scarce resources, including to purchase exotic vehicles for themselves at outrageous prices.

Following his return from a ‘private’ visit to France on Monday, the president would have seen media highlights and must have listened to the full rendition of KWAM 1’s ‘special message’. Considering that the president also started badly in Lagos before he turned things around, I want to share the optimism with which KWAM 1 ended his dirge. That is why I am recommending that the president again watch Saworoide, the 1999 Mainframe (Tunde Kelani) movie that was sponsored by the Tinubu Inauguration Committee for his swearing-in as Lagos State Governor 25 years ago.

The movie was weaved around Saworoide, a brass bell talking drum. Written by the late Professor Akinwunmi Isola, a world acclaimed authority on Yoruba tradition and culture, Saworoide is the story of a fictional community called Jogbo which, like Nigeria, has enough to meet the needs of people in terms of resources but not enough to satisfy the greed of a few powerful individuals. Principal actors include the late Isola himself, Adebayo Faleti (also now of blessed memory), Kola Oyewo, Bukky Wright, Lere Paimo, Kunle Bantefa, Kunle Afolayan, Peter Fatomilola, Ayantunji Amoo, Kabirat Kafidipe, and the late Larinde Akinleye.

In ancient Jogbo, the king and his subjects had a binding social contract that engendered prosperity for all but with dire consequences for deviants. “For the fictional Yoruba land of Jogbo, a ritual with the Saworoide had been established for rulers about to ascend the throne. Lapite (Oyewo) who becomes the King early in the story rejects the ritual as he intends to use his new position to enrich himself and escape accountability,” a Mr Tishe wrote on the enduring lessons of the movie depicted through metaphors and allegories with a powerful message on good leadership. “Although fictional, the events in the land of Jogbo call for reflection and action on the part of leaders and citizens for positive change.”

For 16 years (since he left office as Governor), Tinubu had been plotting to be president of Nigeria. So, now that he has realized what he publicly admitted as a ‘lifelong ambition’, he cannot be described as an accidental leader. Therefore, in moments of introspection, Tinubu must ask himself whether his presidency is simply about the trappings of power or whether he is interested in leaving a worthy legacy for posterity. It would be a shame if it were all about the former. Meanwhile, I understand that the Tinubu administration is undertaking important and necessary reforms which hopefully will yield gains in the future. But you don’t preach sermons to hungry people. Immediate measures are required to relieve the pains of Nigerians. And there is also an urgent need to tell Nigerians what his medium to long term economic and security plans are beyond this ‘kick-and-follow’ approach that is not helped by mixed messages from some of his palpably incompetent ministers.  

Here is the point. The ‘Emilokan’ philosophy, which is about entitlement, may have helped Tinubu wrest the presidential ticket of APC—which to be fair is no more than a party carefully constructed by him as a special purpose vehicle to power—from conspirators. But such disposition is of no use to him in presiding over the affairs of Nigeria. When leaders place more importance on what they believe they are entitled to rather than what they offer society, they are setting themselves up for big time failure. The only thing that can untangle the multitude of problems we face in the country today is for Tinubu to humble himself and admit that Nigeria has given him so much and use his stewardship to pay back.

That explains why I recommend that the president should go back to watch Saworoide and the sequel, ‘Agogo Eewo’ (the gong of taboo). In a 2020 review, ‘Saworoide, An Allegory of Present Day Nigeria’, Tobi Oduselu concluded his treatise on a sombre note. “While this cinematic masterpiece shows a semblance to Nigeria’s current realities, it also serves as a predictive imagination of how the future will turn out if the current mishandling of our resources persists,” Oduselu wrote. “It is not enough to promise change; it is imperative to deliver on those promises and take care of the people.”

As the Yoruba would say, a half-hint (this time, of impending doom) is sufficient for any ‘Omoluabi’ to get the full message!

Lagos Traffic and the Water Option

Inside the Control Room of the Monitoring and Data Management Centre of the Lagos Waterways Authority (LASWA) at the sprawling Falomo Jetty last Friday afternoon, I watched activities in real time on the entire stretch of the Lagos lagoon, from Ikorodu to Badagry. The General Manager, Damilola Emmanuel, was on hand to take me through what I was seeing live on the big screens. But what was I doing at the Falomo Jetty?

In Lagos last weekend for a burial ceremony, I visited Bode Makanjuola, CEO of Caverton Offshore Support Group, who also oversees Caverton Marine, a critical subsidiary. He offered to take me on a boat ride from their Jetty in Ozumba Mbadiwe through the lagoon to showcase their latest venture. The diversification into boat building, according to Bode, began with the construction of a 40-passenger Glass Reinforced Plastic (GRP) ferry. And the ferry on which we rode was constructed right in Nigeria, specifically at their Badore, Lagos Jetty. It features 20 USB charging points, radio channels and a space left for television. Although not yet operational, I found the ferry service more luxurious than the ones I experienced in Zanzibar a decade ago and Sierra Leone last year. “Now, we have ten of such ferry each of which, as you can see, is built for the luxury of passengers and very safe,” Bode assured me.

To beat the Victoria Island traffic after the visit (and boat ride), I asked to be dropped at the Falomo Jetty (to access Ikoyi) and then I had the chance encounter with the LASWA boss, Damilola. Surprisingly, the lounge at the jetty is better than what you find in some airports in the country. Established in 2008 by the government of Babatunde Fashola, the agency can serve as a catalyst for decongesting Lagos roads. But it needs to encourage private capital which Caverton Marine and other players are tapping into.

Bode has bold ambitions. “In addition to passenger ferries, we are also actively building security and cargo boats. We have plans to expand our fleet to include fishing and leisure boats, ensuring that we meet diverse industry demands and contribute to the growth of Nigeria’s maritime sector,” Bode told me before we parted at Falomo last Friday. “In line with international marine vessel classification agency guidelines, our boats are designed and built with precision, utilizing cutting-edge technology and with the expertise of our dedicated team, we intend to exceed the most stringent industry standards.”

From what I saw last Friday, water transportation can be a viable option for those who want to avoid the impossible Lagos Road traffic. But it will require considerable investment, especially from the private sector in partnership with the Lagos State government. Bode Makanjuola is already positioning himself with an investment that is already in millions of dollars. Under the prevailing business environment in Nigeria, such daring comes with enormous risk. And enormous reward!

No fewer than twenty-five people have been apprehended by the Niger State Police Command in respect to a mass protest in Minna, the state capital, on Monday.

Naija News recalls that there was a mass demonstration in Minna, reportedly led by women and youths who were discontented with the exorbitant cost of living in the area.

In a statement issued on Wednesday, however, the police command in the state said it arrested one Aisha Jibrin, 30, and two other women, Fatima Aliyu (57 years old) and Fatima Isyaku (43 years old), who allegedly led the demonstration.

Twenty-two other persons were also arrested.

According to the police, the protest commenced when Aisha and a group of women blocked the Minna-Bida Road at the well-known Kpakungu Roundabout, voicing their frustrations with what they perceived as the suffering inflicted by the Bola Tinubu government.

Subsequently, men and youths reportedly joined the demonstration, obstructing the movement of vehicles.

Naija News reports that despite the deployment of police operatives to the scene, the youth continued their protest, claiming that the police were mere puppets of the government and incapable of taking action.

Nevertheless, the Niger State Police Command released a statement on Wednesday, announcing the arrest of Aisha and her colleagues and accusing the protesters of engaging in violent behaviour.

The state Police Public Relations Officer, DSP Abiodun Wasiu, acknowledged that the police used minimum force to disperse the protesters.

However, he further alleged that after the police resorted to minimum force, the protesters retaliated by attacking the police with various weapons such as stones, bottles, sticks, and cutlasses. They also caused damage to police patrol vehicles and parts of the Kpakungu Division roof.

The statement read, “It could be recalled that on February 5, 2024, at about 7 am, a large number of women and miscreants mobilised and blocked Minna-Bida road and Kpakungu Roundabout claiming to be protesting against increase in foodstuff prices, causing major obstruction on the highway and deprived motorists, travellers and other road users from gaining access to attend to their lawful businesses.

“The command immediately drafted police patrol teams led by the Deputy Commissioner of Police, Operations – DCP Shehu Didango to the scene, and after much persuasion by the police, the protesters deliberately refused to clear the road for public use, while His Excellency, the Deputy Governor of Niger State, Yakubu Garba, equally availed himself at the scene and addressed the group, yet they turned deaf ears and chose to be violent.

“However, the police adopted minimum force to disperse the protesters who turned violent by attacking the police with weapons such as stones, bottles, sticks, cutlasses and damaged Police patrol vehicles and parts of the Kpakungu Division roof.

“In the course of this, the police arrested the initiator of the protest, one Aisha Jibrin 30yrs, Fatima Aliyu, 57yrs, Fatima Isyaku, 43yrs all of Soje ‘A’ of Kpakungu area of Minna and 22 other miscreants, with the following weapons:

“A bench and a stick used as a barricade, three knives, one scissors, one cutlass, one saw blade, one iron pipe, four other sticks, two wraps of Indian hemp, charms, etc.

“During interrogation, the said Aisha claimed that she was not aware that her action was illegal by mobilising over 100 women and miscreants to block the highway for a violent protest. She claimed further that she informed one youth leader, Hassan, in the area, who promised to inform the police of their plan to protest, but did not do so.

“Meanwhile, all suspects were taken to SCID Minna for investigation and they will be charged to court for prosecution, as effort is ongoing to arrest other identified members of the violent protest.

“The Commissioner of Police, Niger State Command, Shawulu Danmamman, urges Nigerlites, members of the public to be law-abiding and should not resort to self-help, but rather approach appropriate authority to address issues whenever the need arises.”

The Super Eagles of Nigeria have beaten South Africa’s Bafana Bafana on penalties to reach the African Cup of Nations (AFCON) 2023 final.

The match finished 1-1 after extra time and the three-time champions will face hosts Ivory Coast or the Democratic Republic of Congo in the final on Sunday.

Stanley Nwabali was the hero of the night as he saved two penalty kicks.

Nigeria were hoping to make it into their fourth AFCON final but were made to work for it early in the first half as South Africa bossed early proceedings.

Substitute Kelechi Iheanacho scored to give Nigeria a 4-2 penalty shootout victory over South Africa on Wednesday after an Africa Cup of Nations semi-final thriller in Bouake.

The Yoruba set a huge store by character, which they insist is more precious than rubies and gold. “E hu iwa Omoluwabi'' is a refrain that so unambiguously states what the Yoruba expect from every true-born son or daughter. Those who deviate are referred to as bastards – “omo ale”. Proper or good behaviour is non-negotiable. There are certain characters or behaviours that must not be mentioned, not even once, among Omoluwabis.

One of such is stealing/cheating. Another is laziness or slothfulness. Liars and unreliable people, those who are not bound by their words, are loathed among the Yoruba. They are to be avoided like a plague. Wealth does not define the Yoruba; character does. Good character, not wealth, is what the Yoruba believe a person should flaunt and which every other person should acknowledge, respect and emulate.

A number of songs, proverbs, and words of wisdom of our elders are drummed into the ears of every Yoruba child. One such song, which I learnt in elementary school and which remains ingrained in my soul, is: “Kini n f’ole se l’aiye ti mo wa? (2ce) L’aiye ti mo wa ewon ko sunwon/Ewon ko sunwon f’Omoluwabi/Kini n f’ole se l’aiye ti mo wa” Thieves and vagrants are ostracized; murderers are excommunicated and anyone related to such fellows are enveloped in shame.

Unable to live with such shame, many have been known to commit suicide, considering death a more honourable outcome - “Iku ya j’esin”. Begging was alien to Yoruba land and culture. It used to be considered a shameful thing. The Yoruba taught the virtues of hard and diligent work - “Ise l’oogun ise/Mura s’ise ore mi/Ise la fi n d’eni giga…” Students were taught to study hard – “Bata re a dun ko-ko-ka/Ti o ba ka’we e/ Bata re a dun ko-ko-ka”

I first noticed it in Lagos – “Eko gb’ole, o gb’ole” - but street begging has since enveloped the entire Yoruba landscape. Beggars of Yoruba extraction compete favourably with those who were seen as the traditional beggars. These days, there are no vices that were loathed in Yoruba land that have not now seized the entire Yoruba landscape. Look around you, the “twale” and “alright sir” boys and girls, the area boys and area girls, are mostly Yoruba youths.

While their Igbo counterparts are busy learning trade and their Hausa counterparts are riding Okada and pushing carts to eke out a living, the Yoruba youths are useless to themselves and to the society. Yet, they insist on living life to the hilt, and on the fast lane, to boot. They are the enforcers. They are the political thugs. They are the “agberos” They are the petty thieves waylaying and stripping the hapless of their phones and other valuables at street corners.

Cultism has run riots among Yoruba youths. It is no longer the exclusive preserve of students in the institutions of higher learning. Primary schools, secondary schools, any gathering of youths in Yoruba land these days is infested with cultism. They kill, they maim. Rival groups waste one another with relish.

Evil – all manner of evil – walks naked on our roads, wasting our future before our very eyes. Now, our youths are said to have graduated into the ranks of kidnappers, bandits and terrorists! All eyes used to be on the Fulani but the kidnappers of the Ekiti school children are said to be of Yoruba extraction.

Governance in Yoruba land progressively took a dip the very moment Chief Obafemi Awolowo, in pursuit of his ambition to rule Nigeria, left the office of premier of the Western Region for the position of Leader of Opposition in the Federal parliament. Cracks soon set in between him and his successor, SLA Akintola, with other Action Group leaders siding with this or with that. The Fulani-led government at the Centre cashed in on that, aided by Nnamdi Azikiwe and his Eastern Region, to set the Western Region on fire and send Awo to jail.

From that moment, things fell apart in Yoruba land. Akintola, Fani-Kayode and others betrayed Awo. Fani-Kayode in turn betrayed Akintola. In the Second Republic, the core opponents of Awo were big-time Yoruba politicians and business moguls, the likes of Meredith Adisa Akinloye, Richard Akinjide, Omololu Olunloyo, FRA Williams, Bashorun MKO Abiola, among others.

Dogs began to eat dogs. Bola Ige dumped Alayande out of the Oyo governorship race. Cornelius Adebayo did similarly to Chief Josiah Olawoyin in Kwara state. Both disrespected the counsel of Awo. Ige got his due recompense at D’Rovans, Ibadan years later as his peers ditched him for Chief Olu Falae.

Against Awo’s advice, both Ige and Sunday Afolabi served in President Olusegun Obasanjo’s government in the Fourth Republic. A man who hates your father cannot love you, the son, Awo was reported to have told his two political sons gone errant. Both Ige and Afolabi perished in Obasanjo’s government. Those who did not perish serving Sani Abacha lost relevance and the reputation that had taken them decades to build – the likes of Ebenezer Babatope, Alhaj Lateef Jakande and Olu Onagoruwa, who also lost his first son to the bargain.

The Fourth Republic started well for the mainstream Yoruba political leadership in 1999 but wily Obasanjo unhinged it four years later in 2003. Only Bola Ahmed Tinubu as Lagos governor survived the Obasanjo tsunami. A new king was born!

Whatever aileth the Yoruba nation today must be placed squarely at the door mouth of the Asiwaju of Yorubaland and Jagaban Borgu. Tinubu uprooted the Awo political dynasty and created a new political empire of his own. The Yoruba nation today is cast, for better or for worse, in the image of Asiwaju Bola Ahmed Tinubu. If all is well, give the credit to Tinubu. If all is well the other way round, as our elders would say, hang it as well around Tinubu’s neck!

The creation, nurturing and blossoming of the Yoruba area boys and girls coincided, if I can put it that mildly, with the ascendancy of Tinubu as the master of South-west politics. Coping with the influx of Hausa/Fulani criminals into Yoruba land is difficult enough, especially with the obstacles deliberately put in the way of containing the criminals by Federal power. To now have to contend with the sad spectacle of our own children themselves swelling the ranks of the criminals is distressing, to say the least.

But what do we expect from jobless youths? What do we expect from generations whose destiny has been wasted by our political leaders who have no plan for them other than use them as thugs and then dump them? Why are our youths not being helped to learn a trade like their Igbo counterparts? Whatever you may say, the Fulani are smart; they buy carts and okada for thousands of their youths and then unleash them on us down South. Who will do similarly for our own youths?

Yesterday (Tuesday, 6 February, 2024), I was invited to join the Afenifere team to commiserate with Ekiti State’s Gov. Biodun Oyebanji over the tragedy that befell the state recently. Two traditional rulers were felled by suspected Fulani terrorists and some school children were kidnapped on their way to/from school. God have mercy! Ekiti suddenly became Chibok and Dapchi!

The Afenifere delegation was led by Chief Korede Duyile, who described the disasters as unfortunate. Duyile proffered the following solutions: that the governors of the south-west cooperate more than ever before to confront the security threats facing the sub-region; and that Amotekun, the security outfit of the South-west, be given appropriate arms and ammunition. “We want Amotekun to be fully armed. It is not easy to work with bare hands or with incantations”, he said. He also faulted the country’s structure: “If governors are in control of security, it will be easier to tackle these problems” he said, adding that the need to restructure the country has become more urgent than ever.

Responding, Gov. Oyebanji described the killing of the Obas as “sacrilege and an affront to the Yoruba race”, which he said his government would not take lightly. The culprits would be brought to book, he vowed. Despite party differences, the South-west governors are cooperating on security and had measures in the pipeline before the unfortunate death of their chairman, Gov. Rotimi Akeredolu of Ondo state. After giving Akeredolu a befitting burial later this month, the South-west governors will unfurl their plans.

Oyebanji praised President Tinubu for providing leadership and encouragement to Ekiti in its trying moments. Despite being out of the country, he said the president called him on a daily basis and also gave directives that have been of immense benefit to the state. “I want Afenifere to thank him for me” he said before passionately pleading with the Afenifere to forge a common front and work together “because it is only in unity that we can confront and defeat this menace. Your voice carries weight”

Nigeria needs urgent restructuring. And the South-west itself needs urgent repositioning. Governance must be elevated to a higher level. Hope renewed, which Tinubu promised, must not remain a cliché. Blood and flesh must be infused into it. Time to act is now!

The All Progressives Congress has faulted criticism of President Bola Tinubu by candidates of the Peoples Democratic Party, Atiku Abubakar and the Labour Party, Peter Obi, asking the duo to share suggestions with the President on how to effectively run the economy and governance.

The APC National Publicity Secretary, Felix Morka, in an interview with Channels TV on Tuesday, urged the two presidential candidates of opposition political parties to suggest ideas to Mr Tinubu and not just condemn what the government is doing to address economic hardship in the country.

Mr Morka stated that they were making “incendiary” statements to instigate the public.

He said, “Opposition politics is not necessarily about condemning. These individuals, Peter Obi and Atiku Abubakar, touted some of the economic policies this government is running with to be at the core of their economic agenda. So what has happened? So it is not enough to just condemn, these leaders should be able to, assuming they have the silver bullets this government is not deploying, they point it out.’’

Mr Morka dismissed Mr Abubakar’s recent criticisms of the Tinubu-led APC government as “completely jaundiced by his own political self-interest.”

“It is not enough for Atiku Abubakar to bandy words. I expect a man who thinks deeply as he claims about governance, economy, and other aspects of our natural life to offer ideas, concrete suggestions,” he said.

The duo of Mr Abubakar and Mr Obi have criticised Mr Tinubu’s economic policies, lamenting economic hardship in the country.

Last week, Mr Abubakar berated Mr Tinubu’s government, saying his chaotic policies were dashing hope and pushing the country to the brink.

With inflation and food prices spiking under Mr Tinubu’s watch, Nigerians have cried out over economic hardship. Earlier in the week, protests over soaring food prices rocked two northern states, Niger and Kano.

But Mr Tinubu, in December 2023, urged Nigerians to show understanding, saying “the financial re-engineering of our country is ongoing. We are determined to deliver Nigeria safely through the tunnel of hope, stability, and economic prosperity.”

Last week, fuji maestro Wasiu Ayinde, aka Kwam 1, who is also Mr Tinubu’s musician ally during his campaign, cried out over economic hardship in the country.

“Nigerians are angry, traders are angry, why is kidnapping on the increase?” Kwam 1 sang, lamenting the naira freefall against the dollar.

Renowned Nigerian economist and Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has extended her well wishes to the Super Eagles, ahead of their semi-final match against South Africa in the ongoing African Cup of Nations (AFCON).

Okonjo-Iweala, the former Nigerian Minister of Finance, expressed her confidence in the team’s abilities and urged them to secure victory in the semi-finals to advance to the finals of the prestigious tournament.

The Nigerian national football team (Super Eagles) are set to face South Africa at Stade Bouaké in Bouaké, Ivory Coast.

Taking to her official Twitter page in a tweet posted on Tuesday, Okonjo-Iweala encouraged the Super Eagles.

Ngozi Okonjo-Iweala urges Super Eagles to soar in AFCON semi-final against South Africa
Super Eagles.
She wrote;

“Wishing our very own Super Eagles the best of luck tomorrow!! Let’s get it done.”

See below;

Wishing our very own Super Eagles the best of luck tomorrow!! Let’s get it done.

— Ngozi Okonjo-Iweala (@NOIweala) February 6, 2024

A fresh request has gone to the Kano State House of Assembly, seeking the return of Sanusi Lamido Sanusi as the Emir of Kano.

The request also seeks the dissolution of the law establishing four additional emirates in Gaya, Rano, Karaye and Bichi by the immediate-past administration of Kano State so as to pave the way for the reinstatement of ex-Emir Sanusi.

The request was contained in a letter by a group identified as “Yan Dangwalen Jihar Kano” (the Kano Electorate), and addressed to the State Assembly through its Speaker.

The letter, dated 5th February, 2024 and signed by the group’s chairman, Najib Abdulkadir Salati, said Kano has lost its peace and stability since former Emir Sanusi was deposed by the administration of Ex-Governor Abdullahi Ganduje.

The letter, however, said the reinstatement of Sanusi as the Emir of Kano “will foster unity, peace, and stability within Kano State and its neighbouring communities”.

The letter, which was copied to the Kano State Governor, Abba Yusuf Kabir, the Deputy Governor, and the Secretary To The State Government, reads: “We write to plead to your honorable office to please redress the Executive governor and also draw the attention of the honourable members the section that governs the additional emirs in Kano State. Specifically, we would like to request a review and potential dissolution of the additional emirs and section that led to the creation of the four additional emirates.

“It is our firm belief that consolidating the emirates into a single entity will lead to greater unity and progress for the people of Kano. This consolidation may serve to streamline governance and promote a more cohesive community for the betterment of all citizens.

“We acknowledge the rightful authority of the Kano State House of Assembly in the issue of emirate management.

“However, we humbly request your esteemed assembly to revisit and reconsider the decision to remove HRH Sanusi Lamido Sanusi from his throne. Our belief is based on the belief that his reinstatement will foster unity, peace, and stability within Kano State and its neighbouring communities.”

Nigerians’ spending on foreign education, healthcare and personal travels gulped over $98bn in 10 years, according to the Central Bank of Nigeria data.

The CBN Governor, Olayemi Cardoso, who made the disclosure while addressing the House of Representatives on Tuesday, was responding to an inquiry by the lawmakers on the factors behind the rapid depreciation of the naira in the last few weeks.

He spoke against the backdrop of the central bank’s battle to stabilise the exchange rate amid dollar shortage.

The lawmakers had invited Cardoso and other economic managers following last week’s plunge of the naira from about 900/dollar to over 1,400/dollar at the official market.

Members of the organised private sector and Nigerians have raised concerns over development, saying it would lead to more hardships and job losses.

However, speaking with the lawmakers, Cardoso argued that the foreign exchange market was facing increased demand pressures, causing a continuous decline in the value of the naira.

According to him, factors contributing to this situation include speculative forex demand, inadequate forex due to low remittance of crude oil earnings to the CBN, increased capital outflows, and excess liquidity from fiscal activities.

To address exchange rate volatility, he said a comprehensive strategy had been initiated to enhance liquidity in the FX markets.

This includes unifying FX market segments, clearing outstanding FX obligations, introducing new operational mechanisms for Bureau De Change operators, enforcing the Net Open Position limit for commercial banks, and adjusting the remunerable Standing Deposit Facility cap.

Cardoso revealed that between 201O and 2020, foreign education expenses amounted to a substantial $28.65bn, as per the CBN’S publicly available Balance of Payments Statistics.

Similarly, medical treatment abroad incurred around $11.01bn in costs during the same period. Within the same period, Personal Travel Allowances accounted for a total of $58.7bn.

Cumulatively, Nigerians spent about $98bn on foreign trips, medical tourism and overseas education, a figure the CBN governor said was more than the total foreign exchange reserves of the central bank.

Further compounding the situation, according to Cardoso has been the consistent decline in Nigeria’s export earnings against the backdrop of increasing imports.

In contextualising the problem, Cardoso pointed out that Nigeria’s annual imports, which require dollars for payment, amounted to $16.65bn in 1980.

By 2014, the annual imports had significantly surged to $67.05bn, although it gradually decreased to $54.71bn as of last year.

Similarly, food imports escalated from $2.63bn in 1980 to $14.84bn in 2019.

Cardoso said, “In 1980, our import expenditure stood at $16.65bn, while our exports amounted to $25.97bn, resulting in a surplus of $9.32bn. Thus, during that year, we managed to fulfil the demand for dollars from our existing supply and still had over $9bn in surplus. In such a situation, the exchange rate (the value of the US Dollar) would not increase because, similar to any commodity, its supply surpassed its demand.”

Also contributing to the free fall of the naira, per the apex bank, has been a significant decline in Nigeria’s oil revenues.

“Moreover, from 2003 to 2013, we experienced a surplus of $331.73bn in the economy, with oil exports alone contributing over $798bn. This surplus of dollars would typically stabilize the exchange rate, leading to a “strong” naira.

“ Regrettably, over the past 12 years, oil exports, constituting over 90 per cent of our foreign exchange earnings, have declined from $93.89bn in 2011 to US$31.4bn in 2020,” Cardoso added, while noting that monetary policy actions were sometimes inhibited by transmission lags.

“It also seems that the task of stabilising the exchange rate, while an official mandate of the CBN, would necessitate efforts beyond the bank itself and indeed to an attitudinal change of all our citizens,” he added.

Cardoso expressed optimism that that the policy measures implemented by the apex bank would permeate the economy in the short to medium-term.

“Inflation pressures may persist, albeit temporarily, but are expected to moderate significantly by Q4 2024. Exchange rate pressures are also expected to reduce with the smooth functioning of the foreign exchange market,” he said.

Foreign products

According to the CBN governor, one of the primary reasons the naira has continued to take a beating on the international stage has been Nigerians’ appetite for all things foreign.

For example, a new report by the Washington-based Institute of International Education showed that the number of Nigerians studying in the United States surged to the highest in at least 23 years despite an acute shortage of foreign exchange in the country.

According to the report, the number of Nigerian students at US colleges and universities grew by 22.2 per cent to 17,640 in the 2022/23 academic year from 14,438 in the previous year.

A further analysis of the report revealed that the number of Nigerians grew at a faster pace compared to last year which rose by 12.3 per cent.

This year’s increase for the country is also the fifth highest out of the top 25 international students in the US.

According to UNESCO’s Institute of Statistics, the number of Nigerian students abroad increased from less than 15,000 in 1998 to over 71,00O0 in 2015. By 2018, the figure had reached 96,702 students, as per the World Bank.

Another report projects the number of Nigerian students studying abroad to exceed 100,000 by 2022. Additionally, the UK’s Higher Education Statistic Agency noted a 64 per cent increase in Nigerian students studying in the country.

In the same vein, a study by the Independent Research Centre Trust stated that Nigerians spend at least $1.5bn on medical tourism annually.

The Head of the Centre, Prof. Jamilu Ismail while speaking on the matter said there was an urgent need to tackle the twin menace of medical tourism and brain-drain in Nigeria’s health sector.

Jamilu said, “Currently, medical tourism is a big business and Nigeria is losing a lot to medical tourism. Some studies have shown that Nigerians spend between $1.5bn to $2bn annually on medical tourism, especially for heart diseases, kidney diseases, cancer, and other diseases as well.

“So, because of that, we have challenges in our hospital settings, maybe due to lack of equipment, and currently we are also having an issue where a lot of our specialists and doctors are leaving the country. Because of that, we felt it an opportunity that if we can provide these services we can curtail that medical tourism.”

According to recent data from CBN’s Balance of Payment compilation spanning the first six months of 2023, Nigerians spent $245.68m on overseas health-related issues, $896.09m on foreign education, and $434.63m on other personal foreign needs.

The apex bank, in an explanatory note titled, Note D, defined Balance of Payments as “a systematic record of economic and financial transactions for a given period between residents of an economy and non-residents.”

Reacting to the development, National Vice Chairman of the Joint Health Sector Unions, Dr Obinna Ogbonna, blamed a lack of confidence in the nation’s health sector for the hefty expenditure on medical tourism.

But while addressing the National Assembly, the CBN governor explained that the exchange rate is determined by the dynamics of supply and demand for a product or service.

In essence, similar to the pricing of cows or cars, the value of the US dollar in Nigeria is determined by the balance of US Dollars entering the country and the demand for US Dollars among Nigerians.

Cardoso’s argument hinged on the fact that a major reason the naira had become weakened over the years was the growing distaste for locally manufactured goods.

He said, “In 1980, more than 75 per cent of the vehicles used in Nigería were domestically produced by companies like Volkswagen in Lagos, Peugeot in Kaduna, and others.

“Presently, over 99 per cent of the cars driven are imported, necessitating dollar payments. Similarly, in 1980, the majority of the clothing worn was sourced from Nigerian textile mills in Funtua, Asaba, Kano, Lagos, and various other towns and cities. Today, nearly all the clothing worn is made from imported fabrics. Given the substantial demand for education, healthcare, professional services, personal travel, and similar needs, the exchange rate is bound to face ongoing pressure.”

Bagudu speaks

Meanwhile, the Minister of Budget and National Planning, Atiku Bagudu, has said that the economy is now better than the state President Bola Tinubu met it when he assumed office in May 2023.

He said, “The challenges of the moment are being dealt with. We have been meeting with the Coordinating Minister of the Economy to address the issues affecting the nation’s economy. The key focus of the budget is on agriculture, security and infrastructure. The allocation of 39 per cent of the budget is a step in the right direction. For now, our focus is to improve on our revenue collection strategies.”

House pledges commitment

Meanwhile, the House of Representatives has pledged its readiness to confront the stark realities of the economic, fiscal, and revenue challenges currently confronting Nigeria.

The Deputy Speaker, Benjamin Kalu, who presided over the debate series in the absence of the Speaker, Abbas Tajudeen at the resumption of plenary, pledged on Tuesday on the Floor of the Green Chamber.

He said, “As we gather in this sectoral debate with the Central Bank Governor, the Chairman of the Federal Inland Revenue Service, the Minister of Budget and National Planning, and the Minister of Finance, it is imperative to recognise the urgency and importance of the agenda before us.

“We must also confront the stark realities of the economic, fiscal, and revenue challenges that our beloved nation, Nigeria, is currently facing.”

He added, “In a world of complexities and uncertainties, the path to fiscal integrity is not just a choice but a necessity. It is the bedrock upon which the trust between the government and its people is built and the foundation that supports the robust architecture of our national economy.

“Fiscal integrity ensures transparency, accountability, and the prudent management of our nation’s resources. It is our duty and responsibility to safeguard this, not just for the present generation but for the future ones that will inherit the outcomes of our decisions today.”

Edun comments

On his part, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, assured Nigerians that current challenges would soon give way to a reinvigorated economy owing to the reforms being implemented by the Federal Government.

“We are where we are today as a result of a series of economic policies over the years. Inflation has increased and the cost of living has gone up but palliatives have been rolled out. Oil production has steadily increased as a result of improved security in oil-producing areas and a sustained fight against oil bunkering and other criminalities in the areas. Today, the country is producing about 1.65mpb a day and it is rising. We have to focus on domestic resource mobilization to address our challenges,” he said.

He further said that inflation, exchange rate fluctuations and other factors were being addressed while agriculture was receiving attention for maximum production coupled with an emphasis on the non-oil sector for economic diversification.

On his part, the Chairman of the Federal Inland Revenue Service, Zaach Adedeji, said the agency was committed to its mandate of collecting revenue on behalf government.

Adedeji noted that though the FIRS targeted the sum of N10tn in 2023, it was able to collect a total of N12tn; a disclosure that left the lawmakers impressed.

“In 2024, our target is N19.2tn. We are not going to introduce new taxes but we are determined to bring more Nigerians into the tax net,” he said.

Meanwhile, Senator Tokunbo Abiru, while announcing the postponement of the interface between the Senate Committee on Banking, Insurance, and Other Financial Institutions and the economic managers on Tuesday, said it would now hold on Friday.

Abiru told journalists that the planned interface with Cardoso, was shifted to Friday since Wednesday and Thursday had been slated for the grilling of the service chiefs by the Senate.

The Senate had by its resolution on Tuesday last week, summoned the service chiefs to appear before it in plenary for required explanations on the worsening security situation in the country.

The chairman of the committee, Abiru said, “After waiting for close to two hours for the CBN governor on the planned interface, we have resolved to postpone it to Friday this week by 9 am.

“Postponement of the interface between our committee and the CBN governor arose from the fact that he and other managers of the nation’s economy had been interfacing with our colleagues in the House of Representatives since morning without knowing when exactly, the session would end.

“We would have fixed Wednesday or Thursday this week as a new day for the interface but the Senate has fixed the two days for critical and constructive engagement with the service chiefs. This made us eventually settle for Friday this week for interface with the CBN governor by 9 am prompt. Communication to this effect would be forwarded to the CBN Governor today (Tuesday) and possibly other government officials managing the economy.”

Private sector

Speaking exclusively with The PUNCH, the President of the Lagos Chamber of Commerce and Industry, Gabriel Idahosa, said that unless Nigerians jettisoned the flair for foreign-made products, the campaign to save the naira from the doldrums would continue to be a mirage.

Idahosa also blamed the government for lacking the foresight to create a robust manufacturing industry with oil revenues, especially because global trends suggest that oil earnings would continue to decline in the coming years.

Idahosa said, “It is a matter of choice. The CBN Governor is not telling us anything new. If we want the naira to rebound, we have to make our children study in Nigeria, we have to eat Nigerian food.

“We have to spend our holidays in Nigeria, we have to build and strengthen our currency like China did for 25 years. They locked their borders. They used the kind of cars they could produce. They ate whatever food they could produce. They built a strong economy by being disciplined.”

On her part, the Chairman of the Manufacturers Association of Nigeria Export Group, Odiri Erewa-Meggison, said exporters could not be held accountable for declining export revenues because the government had failed to provide the enabling environment for Nigerian exporters to compete with their international counterparts.

She said access to funding especially single digit to make manufacturers compete favourably on a global scale had remained a perennial bottleneck for exporters.

She said, “Difficultly accessing forex, high cost of production and challenges with getting Export Expansion Grant (EEG) incentives are top challenges for my members.

“There is a need for govt to support non-oil export more as not only do we create jobs when we export, we help improve the balance of trade, reduce pressures on forex when we repatriate our funds back and put proudly made in Nigeria goods on the global markets.

“Govt support and partnership are critical for this sector, especially in today’s economy and I know that both the Coordinating Minister of Economy/Minister of Finance and Minister of Industry Trade and Investment are very keen to support non-oil exports.”