“Bros how you dey oh”

“Omo, body still dey inside cloth. We dey push am.” 

How for do? Man no die, man no leave one place, all of us just dey.” 

“God works in mysterious ways.”

“But how you come take this their cabinet reshuffle?”

 “Underwhelming. An anti-climax. What is all the noise about? I can’t see it.” 

“Which noise?”

“The President had announced the cabinet reshuffle a month ago. Then he travelled abroad and we were told he didn’t want to be put under pressure by anybody. Then he returns from England and France and he says, he is announcing eight key actions to boost efficiency. I don’t see what he has done that will increase any efficiency.” 

“The Ministry of the Niger Delta is now a Ministry of Regional Development. That is something in case you are looking for something.”

“Just a bloated bureaucracy. The Ministry of Niger Delta caters to the interest of the oil producing states which stretch beyond the South South. It includes states like Imo, Abia and Ondo. How about the people of the North Central. They have HYPADEC but that is a development Commission focusing on hydro power. The North East Development Commission is targeted at banditry. I don’t see a convergence.  What I see is confusion. I can’t see light or sense in the decision.” 

“Maybe you will see sense then in the merger of the Ministry of Tourism with the Ministry of Arts, Culture and the Creative Economy.”

“No. I do not either. The Ministry of Tourism is so important. It should stand on its own. We may have had a Minister who could not rise to the occasion, but what is the point, subordinating the Ministry to another Ministry that already has its hands full.”

“Come off it. Tourism is not that strategic.”

“You say? Oh my. Oh my. Can you just listen to yourself? Are you aware that some countries depend on tourism for revenue? People visit countries like France, Spain, United States, Italy, Turkey, Morocco, the UK, Greece, Kenya, South Africa, Egypt, Japan, China, Maldives, United Arab Emirates because those countries have something to offer. The number of people who visit your country is a measure of how welcoming, attractive, risk-averse your country is.   In Spain, tourism is such a major part of the local economy that the locals in cities like San Sebastian are even protesting that tourists should stay away from their city. They are complaining about over-tourism. The people of Canary Islands are also protesting. They say tourists are pushing up rentals, pricing out locals. Residents in Italy and Greece have also taken to the streets. In a year, about 90 million people visit Spain. Over a 100 million visit France. The potential in that industry is so huge, there was no point merging the Ministry with another one. The President doesn’t get it. I wonder who advised him on that course of action.” 

“The statement that they issued was signed by the Presidency. No name. No date. Who is the Presidency? Too many flip flops.” 

“Imagine that.”

“They have also gone back to the old days of the National Sports Commission by scrapping the Ministry of Sports.”

Now, I don’t get it. I don’t get it because I thought John Enoh was doing a good job as Minister of Sports. He came across as a very enthusiastic man. Now they have demoted him, making him the Minister of State, Industry, Trade and Investment.”

“He would be working with someone that I think knows her subject though. Dr Jumoke Oduwole has a significant and relevant experience having served previously as a Special Adviser to the President on PEBEC, ease of doing business and Investment Law. Her experience and expertise combined with Enoh’s energy and enthusiasm, if they can forge a good working relationship, may help.” 

“But as for the man in the Sports Commission, Shehu Dikko, he is basically a football person. We need to grow the sports sector beyond football, and develop other sports. Does he have a broad view of the assignment?  Already his colleagues in Football House are already saying the appointment is for them, not just one man. My view is that there is so much potential in sports that Nigeria can develop, beyond the obsession with football.”

“By the way, your friend Sunday Dare is back. He is now Special Adviser to the President on Public Communication and Orientation.”  

“Meaning what? They say he is going to be in the Ministry of Information, not the Presidency. To do what exactly in the Ministry? The Ministry already has a Director-General of the National Orientation Agency. There is a Minister. It would have been best to name Dare Minister of State, to give him a leverage instead of hanging him afloat between the Ministry and the Presidency”.

“I want to think the President knows what he is doing. It is his prerogative to hire and fire. The discretion is his. He can delegate as he wishes.” 

“Is that why he has Yorubas all over the place in all the important positions? It is his right to run a government as he deems fit. But it is also our right to talk. Nobody can stop us from talking.”

“Yes. You have been talking and talking. What difference has your talk, talk ever made? Talk. Keep talking. Are you aware that this cabinet reshuffle was based on a review of performance of the Ministers by the Central Delivery Co-ordination Unit led by Ms. Hadiza Bala-Usman? The reshuffle is based on empirical facts and findings”

“That is a lie. Have you seen the report by Hadiza Bala-Usman?”

“No.”

“So, why would you or anyone jump to the conclusion that the President followed her recommendations? I don’t think so. The President sacks five Ministers, appoints seven new ones, and redeploys 10 Ministers.  He used to have 45 Ministers, now he has ended up with 48, with four from Ogun State alone!” 

“His prerogative sir!”

“Stop saying it is his prerogative. Is that a new word you just learnt? We are all in this together. This is a democracy, and the last time I checked we have the right to talk. The President removed the Minister of Women Affairs. Okay, I agree, the woman was very controversial, but very loyal. She must be grateful she was made a Minister in the first place. Lola Ade-John, Jamila Bio Ibrahim, and Abdullahi Gwarzo – those ones left the same way they came quietly. But why would the President remove a man like Tahir Mamman, former Vice Chancellor, former DG of the Nigerian Law School and replace him with a medical doctor from Lagos State. I know they say Dr. Alausa is also a university person, but what is Professor Tahir Mamman’s offence” 

“I can only think of two things. He was Vice Chancellor of a university belonging to the Vice-Presidential candidate of the Labour Party in the 2023 general elections. He has also been very controversial with all this talk about age eligibility for university admissions. That is one policy that will be scrapped, you will see, because it only hurts people from the South.”

“There are many other Ministers that Nigerians would have preferred to be turned adrift from the cabinet. The Ministers in critical positions should have been sent away. You are talking about controversy. Wike is the most controversial person in that cabinet. The President could have scored a goal by going for the big ones to signal a change of direction. He sacks the easy ones, and tells us about “eight key actions”. I beg.”

“Mr. Bayo Onanuga has said in one television interview that the cabinet reshuffle reflects the feelings and opinions of Nigerians.” 

“That is, again, a lie. I don’t know anybody who thinks this goes far enough or that it is any important message. No. I insist. No”

“I think the President is going somewhere. For all you know, he may be testing waters. If he wakes up two months down the line and he says he wants to change the cabinet again, can anyone query him? The answer is No.”

“The Senate can reject his nominees”

“Which Senate? This 10^th National Assembly will rubber stamp anything President Bola Tinubu brings to them. I can bet on that.”

“There you are!”

“But I am still convinced that this President is going somewhere that we may not know yet. He has just for example said no Minister should go about with more than three official vehicles and five security details.” 

“That is like saying nothing. In 2003, the Obasanjo administration introduced a monetization policy to cover vehicle loans, domestic staff, accommodation – the whole range. I am not aware that the policy has been abrogated. Under President Jonathan, no Minister used more than three cars by the way. How? Why? But today, Ministers use sirens and fly flags in what is clearly a break-down of law and order.” 

“One by one, President Tinubu will get there”

“Oh yes, by the time we have all lost flesh. The government keeps getting fatter, we are asked to make sacrifices and be patient. What stops the President from reducing his cabinet to a team of just 16 persons? I don’t even know the names of most of the Ministers because they have done nothing, said nothing, and yet they enjoy privileges. I even hear that some people are saying a new aircraft should be bought for the Vice President.”

“Poor fellow. I heard he could not go to the Commonwealth Summit because his aircraft had an incident in JFK Airport in New York. The President has bought an aircraft for himself. The Navy has bought a yacht.  They should buy something for the VP too.”

“Now you are talking from both sides of the mouth. And you know I do not like hypocrisy.”

“So, what do you want me to say? The Speaker of the Borno House of Assembly says the life of the VP is at risk, because his aircraft is bad. Why should the VP travel about in a faulty aircraft?” 

“He can travel commercial”

“Hen hen. Just don’t play Ngbati politics with me. Your Yoruba brother can enjoy luxury, but the Borrno man should manage. This is the problem with us in this country.””

“The problem with all Nigerians is that we tend to see everything form an ethnic or personal angle. This is why an Asari Dokubo would have the guts to say that President Tinubu has disappointed him. What does he want? Him too wan be Minister?”

“I am sorry, you are losing me. I don’t want to talk about Asari Dokubo, Bobrisky, Very Dark Man or this musician, what do they call him? Portable.”

“It pains me though that Nigeria was not at the Commonwealth Summit in Samoa. I know we sent the Minister of Environment but the VP would have been a better fit to speak on the key issues of climate change and reparations.” 

“Your Minister of Environment is one of those persons that I think are sleep-walking through this administration. I have seen the Vice President in action before. He is smarter, far more intelligent than most of the Ministers. Well read. Suave. Good choice. But as for the Ministers, I beg” 

“What a world we live in? Who would have thought the subject of reparation would come back on the table? I recall that this was Chief MKO Abiola’s project, he wanted the injustice of the British Empire to be addressed. Now the Caribbean countries are saying yes, this is the way to go.”

“Don’t mind the British. They have forgotten that in 1833, the same Britain paid reparations for the slave trade between the 15^thand 19^th Centuries, but now in 2024, the Prime Minister, Keir Starmer and King Charles III are now saying we should talk about the past, but we should focus on the future. No reparations. No apologies. And Rachel Reeves, the Chancellor, says there is no money to give anybody but Britain can offer reparatory justice. Justice as they would define it.”

“Can you blame them? The Labour Party in Britain is at this moment trying to prevent austerity, by seeking ways to plug a black hole of about 22 billion pounds, cut public sector spending, raise taxes including National Insurance, and reform the NHS.  Not the right time to pay reparations and they won’t. Tomorrow, Rachel Reeves will unveil the Starmer administration’s budget. I miss MKO”

“MKO is our man oh. He fought for reparation. It is good to see that his idea lives. All the former British colonies in the South Pacific, Australia and CARICOM are calling for reparations. Last week in Canberra, Australia, the King was booed at the House of Parliament by Senator Linda Thorpe, an indigenous, First Nation lawmaker who screamed - You are Not my King!”   

“I am sure we will hear more, particularly now that an African is the new Secretary General of the Commonwealth. Shirley Botchwey, Ghana’s Minister of Foreign Affairs and Regional Integration. She follows in the footsteps of Nigeria’s Chief Emeka Anyaoku.” 

“Great man. Great.  Unfortunately, the Tinubu administration is not grooming or appointing new diplomats. It has been more than a year since Nigeria recalled its ambassadors from all over the world. They are yet to be replaced. Why? A government that says it is interested in global investments should have ambassadors all over the world. Why not? The world is changing, re-aligning, look at BRICS. India, Russia, China. Where is Nigeria?” 

“I think our President will get round to things.” 

“Let him buckle up. Your man should wake up.”

“You know I am more optimistic than you. What if the President wakes up tomorrow and he decides to shake up the Departments and Agencies. These are the real drivers of government. He can shake things up, so radically you would almost apologize for all your critical words.” 

“Forget apology. We are just saying the President should learn to do what is right at the right time, the right way and manner.That is the way forward.”

“I see. I see. I get it. But we will see”.

Global rights group Amnesty International has expressed concern over the escalation of mob violence which, it said, emboldens impunity in Nigeria.

In a new report, the rights group said at least 555 victims of mob violence were recorded in Nigeria in the last decade

Amnesty International said the upsurge in blasphemy killings was fueled by alleged incitement of clerics.

“The failure of the Nigerian authorities to protect lives has led to a growing escalation of mob violence over the last decade, as people increasingly take law into their hands and carry out so-called ‘jungle justice’,” said Amnesty International Nigeria in the new report.

The group said enforcement failures exacerbated the wave of mob violence in Nigeria as victims accused of theft, blasphemy, shoplifting and witchcraft are beaten, tortured and killed with impunity and suspected perpetrators almost always get away with it.

“Between January 2012 to August 2023, Amnesty International recorded at least 555 victims of mob violence, from 363 documented incidents across Nigeria.

“Over the period of this investigation at least 57 people were killed by violent mobs; 32 were burnt alive, 2 persons were buried alive, while 23 people were tortured to death. Many cases of mob killings in remote areas go unreported.

“The menace of mob violence is perhaps one of the biggest threats to the right to life in Nigeria. The fact that these killings have been happening for a long time, with few cases investigated and prosecuted, highlights the authorities’ shocking failure to uphold and fulfil their obligation to protect people from harm and violence,” said Director Amnesty International Nigeria, Isa Sanusi.

“The failure of law enforcement agencies, especially the Nigeria Police Force, to prevent mob violence, investigate allegations of torture and killings, and bring suspected perpetrators to justice, is empowering mobs to kill. The problem is compounded by weak and corrupt legal institutions and systems.”

Amnesty International’s research detailed cases of victims of mob violence that include at least 13 women, six children, and two persons with actual or perceived mental health illnesses and/or psycho-social or intellectual disabilities.

Cases of mob violence were documented in each of Nigeria’s six geopolitical zones: South-South (82), South-East (43), South-West (98), North-Central (42), North-West (100), and North-East (26).

“The Nigerian authorities must urgently address the escalating cases of mob violence including by upholding and protecting the rights of everyone in the country to life and freedom from torture.

“Government must ensure prompt, thorough, impartial, independent, transparent and effective investigation of cases of mob violence and bring those suspected to be responsible to justice in fair trials. Authorities should also take appropriate and effective measures to prevent cases of mob violence across the country and ensure access to justice and effective remedies for victims. The police must be adequately equipped to prevent and respond to mob violence.” said Sanusi.

The President and Chief Executive of Dangote Group, Aliko Dangote, has expressed support for President Bola Tinubu’s energy transition drive from petroleum products to Compressed Natural Gas (CNG).

At a recent event, the billionaire businessman said the company’s investments in CNG are also in line with Nigeria’s Nationally Determined Contribution (NDC) under the Paris Agreement, which aims for net-zero emissions by 2060.

“In this pursuit of transition to clean energy, we are optimistic of a remarkable accomplishment by President Bola Ahmed Tinubu, as he has taken the lead in the nation’s drive towards energy efficiency. This presupposes private sector intervention to support this noble idea initiated by the President,” Dangote said.

He noted that the company’s early adoption of CNG has made it the largest operator of CNG trucks in Nigeria, emphasising that the initiative is a boost to President Tinubu’s quest towards enhancing the nation’s energy independence and contributing to a more secure energy future.

“We are now using CNG vehicles, especially with the new policy of the Federal Government, launched under the Renewed Hope Agenda by His Excellency, President Bola Ahmed Tinubu. We are committed to a cleaner and greener future,” Dangote said.

Similarly, President Tinubu emphasised the urgent need for Nigeria to utilise its vast natural gas resources in the transportation sector. He stated that CNG transportation is an economic necessity for Nigeria, signalling a significant shift in the country’s approach to public transportation and energy use.

“Utilising natural gas to power Nigeria’s transportation industry is the next way to go,” he stated.

On its part, the Dangote Cement said its over $280m investment not only solidifies its leadership in the CNG sector but also reflects its dedication to mitigating climate change and supporting a transition to a low-carbon economy.

Group Managing Director of Dangote Cement Plc, Arvind Pathak, said the investment is aimed at acquiring 100% CNG trucks as part of a long-term plan to transition its entire fleet to CNG.

Pathak stated, “By mid-2026, Dangote Cement aims to operate a fleet predominantly powered by CNG. To facilitate this transformation, we are investing in expanding our CNG fuelling infrastructure, ensuring that our growing fleet has reliable access to CNG as our fuel.”

Pathak said that the company’s CNG infrastructure investments have positively influenced Nigeria’s transition to cleaner fuels.

He added that the CNG station at Obajana, capable of refuelling over 3,000 trucks, exemplifies this commitment, with a second station currently under development in Ibese to further support fleet operations.

The World Bank has said that the reports submitted by the Nigerian National Petroleum Company Limited (NNPCL) to the Federal Account Allocation Committee (FAAC)  were inconsistent, and lacked necessary details on its operations.

This was revealed in the bank’s Accelerating Resource Mobilisation Reforms (ARMOR) Report for May 17, 2024.

According to the WB, in addition to reduced net oil revenues, the opaque governance of NNPCL has significantly undermined the transmission of oil revenues to the federation.

“Non-transparent reporting to the Federal Ministry of Finance (FMF) and the Federation Account Allocation Committee (FAAC), make it difficult for the authorities to oversee NNPCL’s performance, calculate anticipated oil and gas revenues and determine the difference between revenues received by the Federation and NNPCL’s total revenue.

“The reports submitted to FAAC by NNPCL are inconsistent and lack information such as details on pledged revenues, the tradeable value of crude oil, actual payments, and receipts from global trade, among others. As highlighted in the Nigeria Public Finance Review (2022),7 financial reporting is opaque due to quasi-fiscal activities such as in-kind revenues in the form of crude oil, and costs directly deducted from revenues that would have otherwise been transferred to the Federation Account,” the report said in part.

NNPCL is governed by the Petroleum Industry Act (PIA) 2021

The world’s apex bank cited a case where the NNPCL pledged 35,000 barrels of crude oil per day to the owners in exchange for a 20 per cent stake in the privately owned Nigerian Dangote Refinery.

WB said although the total value of the contractual investments for pledged oil revenues was estimated to be worth US$5.8 billion at end-2022, the amount eventually declared by NNPCL was below expectation.

“All production sharing contracts signed by NNPC state that all fiscal payments shall be made in-kind by allowing the NNPC to lift tax oil, royalty oil, and profit oil. In joint venture operations, in which the Federation owns 55 per cent or 60 per cent of the equity oil and gas, the NNPC handles crude oil and natural gas receipts on behalf of the Federation.

However, the share of oil production in these contracts amounts to more than two-thirds of the total oil production in Nigeria.

“Nigeria’s dependence on oil and gas revenue is a source of fiscal vulnerability. During the commodity-price boom of 1996-2014, the revenue-to-GDP ratio was 12 per cent, (albeit considerably lower than the Sub-Saharan Africa (SSA) average of 21.5 per cent at that time), while a decade later, revenue-to-GDP was just 7.7 per cent in 2023.

“ Despite a 116 per cent increase in international oil prices between 2020 and 2022-2023, net oil and gas fiscal revenues transferred to the Federation fell in the same period from 2 per cent of GDP to 1.8 per cent of GDP due to falling oil production and the retention of fiscal transfers to finance the gasoline subsidy.

“Oil production fell from 1.8 million barrels per day (mbpd) in 2020 to 1.4 mbpd in 2022-2023 due to insecurity and a lack of investment and adequate maintenance. The cost of the gasoline subsidy increased over this period from 0.9 to 1.6 percent of GDP, deducted directly by the Nigeria National Petroleum Corporation Limited (NNPCL)5 and reducing the net oil revenue transfers to the Federation Account.”

Additionally, WB said the NNPCL has retained oil and gas revenues for projects such as a gas pipeline to Morocco.

“NNPCL also entered contractual arrangements that pledge future oil and gas revenues to business partners in lieu of cash payments,” the report added.

FG Eyes Fresh $750m W’Bank Loan

The Federal Government is also pressing for a $750m loan from the World Bank.

This loan project is a part of the broader $2.25bn approved by the World Bank for Nigeria on June 13, 2024, to bolster Nigeria’s economic stability and support its vulnerable populations.

The other second part of the loan package was for the Nigeria Reforms for Economic Stabilisation to Enable Transformation, Development Policy Financing Programme project.

Already, an agreement for the loan has been signed between Nigeria (through the Ministry of Finance) and the World Bank.

The agreement document read in part, “The bank agrees to lend to the borrower the amount of $750,000,000 as such amount may be converted from time to time through a currency conversion (“Loan”), to assist in financing the programme described in Part 1 of Schedule 1 to this Agreement (“Programme”) and the project described in Part 2 of Schedule 1 to this Agreement (“Project”, and together with the Programme, hereinafter jointly referred to as the “Operation”).

“The borrower may withdraw the proceeds of the loan in accordance with Section IV of Schedule 2 to this Agreement. All withdrawals from the loan account shall be deposited by the Bank into an account specified by the Borrower and acceptable to the bank.”

According to the Disbursement Linked Indicators set out in the loan agreement, the loan will only be released upon achieving measurable progress in key areas.

These include raising VAT collection through improved regulations, increasing excise taxes on health and environmental products, and boosting corporate tax compliance through enhanced digital infrastructure.

Central to the ARMOR programme is the government’s plan to increase VAT rates and expand taxpayer compliance.

Some of the loan targets include increasing VAT collections to 1.8 per cent of non-oil Gross Domestic Product, unlocking $105m of the loan.

The WB said despite recent reforms, Nigeria’s non-oil tax revenues underperform due to low tax rates, poor compliance, a narrow tax base, and high tax expenditures.

Reforms introduced in 2020-2021 increased non-oil tax revenues from 2.3 per cent of GDP in 2020 to 3.7 per cent of GDP in 2023 due to a rise in Value-Added Tax (VAT) rates, improvements in tax digitalisation, and the unification of the exchange rate in 2023.

“Despite this increase, tax revenues in Nigeria remain very low compared to peers (Figure 2). Unlike most developing countries, Nigeria has yet to tap VAT (a federal responsibility to collect while sharing VAT revenues) as a significant source of revenue. In 2022, VAT revenues were only 1.2 per cent of GDP while VAT tax expenditures were estimated at 1.98 per cent of GDP in 2022 (latest available data).10 The current VAT rate of 7.5 per cent is the lowest rate in Africa, and well below the SSA average of 15.8 per cent. Under the VAT legislation, the tax operates like a sales tax, since firms are unable to recover input VAT on purchases of fixed assets, services, and general administration costs.

“Meanwhile, Corporate Income Tax (CIT) has a very narrow tax base, and although collections have increased in recent years, they represented just 1.6 per cent of GDP in 2023. By comparison, poorly designed and sometimes discretionary CIT expenditures were estimated to cost 0.4 per cent of GDP.11 Excise rates are exceptionally low by global standards, and revenues were less than 0.1 per cent of GDP in 2023.12 Personal Income Tax (PIT) is assigned exclusively to the States, where challenges persist in collection due to tax evasion and underreporting: only 13 per cent of the workforce is registered for PIT (2018) and only 2 per cent of those are reported as active.

The bank advised that the tax and customs administrations need modernising to improve efficiency.

The Joint Action Committee of the Non-Academic Staff Union of Educational and Associated Institutions (NASU) and the Senior Staff Association of Nigerian Universities (SSANU) is set to launch an indefinite strike starting today, effectively halting all activities in universities across Nigeria.

This action comes after the Federal Government’s failure to address the unions’ demands, which include the payment of four months’ withheld salaries, improved remuneration, earned allowances, and the implementation of the 2009 agreement.

A statement released on Sunday, signed by SSANU National President Mohammed Ibrahim and NASU General Secretary Prince Peters Adeyemi, highlighted that the ultimatum given to the government expired at midnight on Sunday.

The statement emphasized the importance of compliance, mandating all NASU and SSANU branches in both federal and state universities, along with inter-university centers, to participate.

The government’s “No Work, No Pay” policy, introduced in 2022, led to the withholding of salaries during previous strikes by university unions.

While President Bola Tinubu directed the partial release of these salaries earlier this year, only academic staff received payment, leaving non-teaching staff excluded.

The unions argue this selective approach is unjust and have repeatedly issued ultimatums, staged protests, and held warning strikes—all of which have yet to yield results.

Today’s action follows a series of unresolved protests and ultimatums.

During a peaceful protest in July, the unions warned the government of possible shutdowns if withheld salaries were not paid.

However, despite promises and approvals for payment, including a recent assurance from President Tinubu, no funds have been disbursed.

The unions assert that members, who handle critical campus services such as water, electricity, internet, and security, are essential to university operations.

In light of this deadlock, SSANU and NASU have instructed members to hold joint congresses on campus today to discuss and launch the indefinite strike.

The Nigeria Labour Congress (NLC) has slammed the International Monetary Fund (IMF), blaming the organisation for the removal of fuel subsidy and other anti-people economic policies by the Bola Ahmed Tinubu-led administration.

In a statement to journalists, the President of NLC, Joel Ajaero, has insisted that the IMF played a role in Nigeria’s economic woes.

The labour union stated that the IMF and its cousin in economic mischief – the World Bank remain the twin forces that have a longstanding pattern of recommending harsh and unworkable economic policies to developing nations.

According to the NLC, the World Bank and IMF must remove their knees from our necks so that we can breathe as a nation.

The union stated that it is too late to begin to deny complicity because they warned the government about the consequences of implementing IMF and World Bank-driven policies.

The statement reads: “Nigeria Labour Congress (NLC) believes that it is cynical and indeed typical of the International Monetary Fund’s (IMF) to recently deny responsibility for the Nigerian government’s removal of petroleum subsidy.

“IMF and its cousin in economic mischief – the World Bank remains the twin forces that have longstanding pattern of recommending harsh and unworkable Economic policies to developing nations. In their usual subterfuge, they have continued to present these advisories as growth strategies but which have unfortunately often led to increased socioeconomic hardship and stagnation in Nigeria and other nations that have had the misfortune of drinking their poisoned chalice.

“At a press conference during the IMF and World Bank Annual Meetings in Washington DC, United States, Abebe Selassie, IMF’s African Region Director, described the decision to remove fuel subsidy by Nigeria’s government as a domestic one.

“IMF’s recent statement is a display of subterfuge and evasion. This denial of involvement in Nigeria’s subsidy removal, coupled with the assertion that it was a “domestic decision,” disregards the extensive influence that the IMF wields in policy formation within many developing countries. Despite this assertion, the IMF’s policy dialogues often suggest subsidy cuts as necessary steps toward fiscal sustainability.

“For Nigeria, where successive governments have frequently yielded to these recommendations, the IMF’s disavowal rings hollow, as it underplays the fund’s direct impact on the nation’s economic policies.

“The NLC has become more worried over this denial at this time which is another signpost of the already disturbing policies by the Nigerian government at the behest of the IMF and World Bank and which IMF is now trying to distance itself.

“It shows that the institution is working very hard to stay away from the blame or the backlash that its policy directions will bring in the future. IMF must know that Nigerians are not fools and we are always aware of the destructive influences its awful policy paths for Nigeria and indeed Africa has been.

“It is pretentious and truly too late to begin to deny complicity because we warned the government about the consequences of implementing IMF and World Bank-driven policies.

“As IMF and World Bank continue to pretend not to know the apparent obviousness of the social costs of its policy recommendations another layer of concern is added to the entire denial.

“While the IMF acknowledges the “significant social costs involved,” it casually suggests that governments can mitigate these hardships through its idea of expanded social protections which is a system that beggars the people forcing them to dwell on handouts in this case RICE that never gets to the people. The reality in Nigeria has continued to reveal a profound disconnect – subsidy removal and price hikes have pushed essential goods beyond the reach of many, with government-provided social safety nets remaining woefully inadequate.

“This gap between IMF recommendations and the lived experiences of Nigerians highlights a fundamental and deliberate oversight in the fund’s approach to economic policy.

“In distancing itself from Nigeria’s subsidy removal, the IMF also demonstrates an unsettling inconsistency in its advice to developing nations. It has repeatedly pressured Nigeria to undertake austerity measures, only to distance itself from the results when these recommendations bring hardship to the populace.

“This shifting narrative not only undermines the IMF’s credibility but also raises questions about the sincerity and reliability of its economic prescriptions for third-world nations. The IMF’s insistence that Nigeria is in full control of its economic policies stands in stark contrast to its historical and continued influence, which has often been accompanied by economic turmoil and hardship.

“NLC emphasizes the need for Nigeria and other developing countries to reclaim their economic sovereignty, resisting externally imposed policies that fail to consider local contexts and the needs of the masses.

“The NLC’s stance reflects a broader frustration with the World Bank and IMF’s recurring interventions, which prioritize fiscal metrics over social welfare. By advocating for policies that genuinely benefit Nigerians, we challenge the IMF’s influence and underscore the importance of economic autonomy in building a just, sustainable future.

“This once again is a powerful reminder to our leaders of the impact of international financial institutions on our people and the need to be circumspect in walking their path.

“The IMF’s denial of involvement in Nigeria’s subsidy removal rings hollow, considering its decades-long history of recommending similar austerity measures.

“We hope that our Economic handlers have learnt or are learning the appropriate lessons to sufficiently know that when “shit hits the fan”, IMF and World Bank will wash its hands off and leave the Government carrying the burden and holding the wrong end of the stick.

“Nigeria must pursue policies that reflect the real needs of our citizens prioritize economic policies that drive growth, social welfare, and equity, not austerity measures that lead to further economic quagmire and social unrest.

“Once again, we call on the World Bank and IMF to remove their knees from our necks so that we can breathe as a nation. They have become the major problem we have as a nation and we may be forced to soon demand that they leave Nigeria entirely as their policies have continued to undermine our Economy and sabotage the people and the nation.

“IMF should not worry for we know that the Petrol price hike and the Electricity tariff hikes were domestic decisions but we also know that it is a case of “Esau’s Hands but Jacob’s voice”. IMF should not present itself cowardly but should stand up and own up! That is what is called honesty and transparency which is the bedrock of IMF’s much-vaunted institutional integrity!”

The Libyan Football Federation has filed an appeal against the recent decision by the Confederation of African Football (CAF) to award Nigeria three points and three goals following a disrupted Africa Cup of Nations qualifier initially scheduled for October 15 in Benina, Libya.

The verdict also imposed a $50,000 fine on Libya, citing breaches of CAF regulations in handling the Nigerian team’s arrival and conditions.

According to reports from Libyan outlet alwasat.ly, Libya has enlisted Tunisian lawyer Ali Abbas to defend its appeal, which challenges the CAF decision as “unfair,”

The Nigerian Football Federation’s complaint led to an investigation by CAF’s disciplinary committee after the Super Eagles endured a reported 20-hour ordeal involving a diverted flight, a lengthy wait at Labraq Airport—300 kilometers from the intended destination in Benghazi—and inadequate facilities, including a lack of food and water. Nigeria’s contingent was eventually forced to abandon the match and return home.

CAF’s disciplinary committee, chaired by Ousmane Kane, ruled in favor of Nigeria, citing violations of Article 31 of the Africa Cup of Nations Regulations and Articles 82 and 151 of the CAF Disciplinary Code. Libya was deemed to have lost the match by forfeit with a 3-0 score awarded to Nigeria.

The ruling, if upheld, places Nigeria within reach of qualification for the 2025 Africa Cup of Nations finals in Morocco, while leaving Libya out of contention with only one point in Group D.

Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN) says consultations are ongoing “at the highest levels” for the country to exit the “grey list” – an anti-money laundering watchlist of the Financial Action Task Force’s (FATF).

The development comes 24 hours after the Nigerian Financial Intelligence Unit (NFIU) announced that FATF had approved the country’s fourth progress report since Nigeria was placed under watch.

The FATF had included Nigeria and South Africa on its grey list on February 24, 2024.

Countries on the list are often subjected to increased monitoring and need to intensify efforts to tackle money laundering and terrorism financing, according to the task force.

The FATF said the inclusion of a jurisdiction to its grey list means that the country has committed to resolve identified strategic deficiencies within agreed timeframes swiftly.

The organisation is an intergovernmental policy-making body that seeks to combat money laundering and the financing of terrorism.

Speaking to journalists in Washington DC on Saturday, Cardoso, said removing Nigeria from the grey list has been critical in his engagement during the annual meetings of the International Monetary Fund (IMF) and the World Bank.

“I would like to emphasise that we are consulting at the highest levels to remove Nigeria from FAFT grey lists, a key topic in our recent engagement,” he said.

‘WE’VE ACHIEVED INCREASED TRANSPARENCY, IMPROVED FX SUPPLY’

Speaking on ongoing monetary policy efforts, Cardoso said since his team assumed office a year ago, there has been a focus on addressing inflation, restoring investor confidence in the financial markets, and stabilising the exchange rate.

He said the apex bank also focused on enhancing financial systems provision, fostering financial inclusion, and enhancing transparency “in our monetary policy decisions and communications”.

“We embarked upon bold and necessary reforms to return to the path of monetary policy orthodoxy, as well as remove observed distortions in the foreign exchange market,” the CBN governor said.

“Our efforts have yielded significant progress as volatility in the foreign exchange market has abated immeasurably, and remittances have also increased significantly.

“We have achieved increased transparency and improved overall supply in the foreign exchange market, leading to reduced arbitrage and speculative activities and eliminated the fund loading of foreign exchange demand.”

On October 8, the CBN reaffirmed its commitment to maintaining a stablefinancial system while ensuring the safety of depositors’ funds.

The bank also announced the introduction of an electronic foreign exchange matching system (EFEMS) to reduce speculative activities, eliminate market distortions and “give the CBN improved oversight capabilities to effectively regulate the market”.

The system is expected to be implemented on December 1.

The New Nigeria Peoples Party (NNPP) has won all 44 chairperson seats in the LGA election held in Kano state on Saturday.

Sani Malumfashi, chairman of the Kano Independent Electoral Commission (KANSIEC), announced the results at the state capital.

“We are pleased to announce that the NNPP has won all the chairmanship and councillorship seats across the 44 local government areas,” he said.

“The election was conducted in a transparent and orderly manner and we did not receive any reports of violence.”

The process leading to the local government election was fraught with litigations.

On October 22, a federal high court in Kano restrained Malumfashi from conducting the October 26 LG polls.

In his ruling, Simon Amobede, the presiding judge, said Malumfashi was “unqualified” to conduct the elections because “he is a card-carrying member of the New Nigeria Peoples Party (NNPP)”.

The case was filed by Aminu Tiga, a member of the All Progressives Congress (APC).

Tiga had told the court that Malumfashi; Kabir Zakirai, secretary of the commission; and other members of KANSIEC; were members of the NNPP and do not meet civil service grade requirements for their appointments.

On Friday, a Kano state high court delivered a counter ruling, ordering KANSIEC to proceed with the conduct of the local government poll.

Sunusi Ado-Ma’aji, the presiding judge, ruled that the constitution empowers KANSIEC to conduct and supervise elections in the LGAs of Kano state.

The judgment was delivered following an ex parte application filed by the commission.

Abba Yusuf, governor of Kano state, had said the election would be held despite the court ruling prohibiting the process.

“We have satisfied all the conditions laid down by the law and we have completed all necessary preparations for the conduct of the elections on Saturday. As such, the polls must take place as planned,” Yusuf said.

The governor said “enemies of the state” were plotting to “truncate this election”.