Headline

Pendulum: Why Nigerians Are Skeptical About Fresh Loans

Published

4 years ago

December 21, 2019

Eric

By Dele Momodu

Fellow Nigerians, I have a plea to make very humbly today. But before I do so, allow me to offer some explanations. I have no problems with the government of President Muhammadu Buhari seeking and accepting loans from anywhere on planet earth. I’m a realist and I know Nigeria needs all the grants, aid, loans and whatever financial benevolence it can get to eliminate the atrocious infrastructure deficits currently plaguing our dear beloved country. There is no miracle that can change our squalid state in the shortest possible time. Nigeria is not alone in trying to use loans to rescue itself from a precarious infrastructural quagmire. Most developed nations have gone this route, once upon a time, whether the loans be from their private or foreign individuals or institutions. That is why you discover that even the richest of countries have humongous national debts. It is sometimes a case of “the bigger the head, the bigger the headache”. Therefore, I believe Nigeria needs this loan, as hefty as it sounds, very desperately and justifiably too. But this is where my agreement with this government terminates.

The ways of governments are not usually that of ordinary mortals. Nigerian politicians always act or behave like they live on a different level and not on the same planet with us, especially when they assume some political offices. One of the main reasons some of us supported the termination, or extermination, of the Jonathan administration was because of its apparent profligacy. We believed that government was on an irresponsible and uncontrollable binge and frittering away our commonwealth with reckless abandon and disdain. So, in our collective wisdom or stupidity, we conspired to sentence the government to eternal damnation and perdition. Nearly five years after, depending on which spot you stand, many of us are now in a state of stupor and abracadabra. The more you look the less you see.

Before the elections of 2015, I was one of those who wept louder than the bereaved. In my fanatical mood, I sold the upcoming APC government at a premium, in advance. I had stubbornly persuaded myself about several fundamental issues. One. That Major General Muhammadu Buhari has transfigured from a military dictator to a born-again Democrat. I had suggested a new moniker for him during a heated debate inside a bus ride with Rotimi Amaechi in Abuja. I said he should be called the “People’s General” instead of robbing him of his greatest achievement on earth by killing the Major General title. I was of the firm belief that he should own it. After all, one of the reasons he was then admired by Nigerians was his Spartan discipline, stern mien and steely gaze. We had hoped that all of these would not only instil the fear of God in the corrupted and flawed politicians that had taken over the landscape of our country like locusts, but that it would also sanitise our polity and return our nation to the halcyon days of yore! I had voiced my views because Amaechi had sought my opinion on the advice of some consultants who read negative connotations to Buhari retaining his military title. I am bemused that this trivial discourse has become the subject of heated debate in recent weeks. What makes it sad though is the ill-advised and jejune response of the Presidency. I say no more because I have weightier matters to deal with today.

Two. I saw Buhari as one of Nigeria’s greatest paupers who hated any form of ostentatious existence and would therefore be absolutely frugal. I was studiously persuaded that, as he pontificated and promised, he would on a personal note sell off our Presidential fleet, reduce traveling to essential and barest minimum and, if possible, travel by the cheapest possible means. I was certain he would overhaul the rascally civil service, whip reckless servants into line and return us to the kind of progressive and developmental civil service that we were proud of, in the early years of Independence. More importantly, I was convinced that he would come down with a sledgehammer on the ridiculous wage bill of political office holders who are using the law to rip off their country by ascribing to themselves emoluments that are unjustifiable and immoral even by our outlandish, crass and amoral standards.

Three. I was very sure he would get rid of the cankerworm of phantom petroleum subsidies that has overshadowed our oil industry and blighted our economy. Refineries would be built in a jiffy and petroleum products would begin to flow like milk and honey, and available at next to nothing, in a country where there should be plenty of such products at affordable prices rather than lack and scarcity! NNPC would operate at a profit and never again at a loss. It would make money for the government and not a few thieving oil pirates.

Four. I had no doubt that he would quickly settle in and form a government of national unity since his mandate was freely given across political parties and non-political entities that had united to evict and eject the scourge that the PDP had become. After 30 years, I was of the firm view that Baba would have learnt useful lessons that no country can make progress in an atmosphere of perpetual acrimony and strife. Indeed, recent history before his ascension to power had demonstrated that no less. The Jonathan administration had gone into battle on so many fronts that it had become lost and confused, riddled by a deleterious internecine war that would eventually consume his government because of the unbridled discord that it had created. He would extend a hand of fellowship to every Nigerian and draw a fresh line that no hooligan would dare cross. Nigeria would start on a new and clean slate and we would all have a full sense of belonging.

Five. A government that promised change will definitely operate on meritocracy by attracting our best brains that litter everywhere in in the world. Henceforth, all hands would be on deck to rescue our long-suffering nation from political brigandage, economic strangulation, religious fanaticism and ethnic jingoism. I had boasted to anyone who cared to listen that the new government would shun every form of nepotism and vindictiveness.

Six. Our new government would declare a state of emergency against poverty and ignorance. Education would be a priority and government would sit down with lecturers and teachers and ensure that there was a visible improvement of their lot. Laboratories would be properly equipped, and research would be adequately funded. Instead of a proliferation of universities producing half-baked illiterates, we would have quality tertiary institutions that would be an asset to national development because of the qualitative materials that they would churn out rather than the feeble draining and damaging body of graduates that have been chucked into the workforce.

Seven. In the area of social infrastructure, I was so sure our government would again take health issues seriously because a healthy nation is a productive nation. Given the penchant of our leaders to fall ill from the pummelling effect of trying to manage Nigeria and Nigerians, I expected that the government would build at least one world class hospital with the vengeance it deserves. I anticipated that the existence of such a notable modern, state of the art hospital would spare us the agony, embarrassment and ignominy of keeping our leaders abroad in foreign hospitals for months whenever their health fails or collapses. I expected that in the first year, work on a road as simple and as important as the Lagos-Ibadan Expressway, already started by President Goodluck Jonathan, would resume and would be finished within four years. I believed that the President would tackle our perennial power problem and sort it out once and for all. The danger posed to our health by the environmental hazard of generators and diesel fumes would be a thing of the past as the Government would go for multilateral approach to the power conundrum by combining wind, solar, hydro and gas to provide a fulfilling power solution.

I had other fantastic expectations. The easiest of them was our security situation which I expected the People’s General to deal with in his long stride because of his much-vaunted military experience and expertise. I never for one moment thought that our security situation would become the dreadful and dreaded nightmare that it now is. I expected there would be a declaration of austerity, and we would all have to tighten our belts for a while in order to achieve our net gain of a prosperous nation. I did not envisage that what would happen was that the belt would become so tight as to almost strangulate and choke us, not because austerity measures have been put in place, but because ineptitude, incompetence, brigandage, and total impunity have taken centre stage and nothing works any longer. I was cocksure that the rule of law would be held sacrosanct by a man who had believed in the courts so much that he headed there on the occasions when he believed that he had been robbed of victory and felt he had not received justice. I wanted to see the President champion the real emancipation and independence of the Judiciary and make that arm of Government the true bastion of democracy that it should be. More than anything else, most of us believed that the President would initiate and entrench electoral reforms that would give us free and fair elections. I felt that having been the beneficiary of a relatively fair election that had seen the incumbent tumbled out of power, the President would do more to ensure that the will of the people is respected. He would respect the sanctity of elections having moaned, groaned and wept, about being rigged out and robbed of victory by dastardly political villains. Now, with the President at the helm of the affairs was the time to see the back of these thugs and touts, political jobbers with no job.

Alas, with due respect to our President, nothing of the sort has happened. All those heady expectations have been dashed on the rocks of expediency and a ruthless determination to cling to power at all costs for the benefit of a select few, by whatever name called. Sadly, the APC apparatchiks have continued on a binge. The bazaars and jamborees are real and brazen. Judging simply by their mode of appearances, their fleet of cars, for many of our supposedly new leaders, every day is Christmas.

As I write this, I hope Mr President will get to read me this week, some smart Alecs are about to spend billions on renovating the National Assembly. Both National Assembly and the State Houses of Assembly will invest in brand new cars for their members, old and new. Can someone plead and prevail on them to stop this unfortunate, spendthrift and decadent waste of our resources. Can we have pity on our country for once? How can a country seeking loans think of living so ostentatiously? All our leaders need a reorientation before our country bleeds to death. The way our country is haemorrhaging should be a serious cause of concerns to all and sundry.

I wish I could say, with certainty, that in this current term and dispensation a few of these expectations would be fulfilled, but I sincerely doubt it. A lot more diligence, focus and integrity need to be put on show by the President and his team before we can begin to achieve these attainable expectations. Until then it all seems a pipe dream and our people will continue to be embittered, enraged and skeptical about everything the government does. My suggestion is that government should try a new approach and see the clear difference.

May God deliver us from all evil and may we discover the road that will lead us to salvation.

Headline

Lagos-Calabar Coastal Highway: Prioritize Existing Unfinished Projects, Peter Obi Tells FG

Published

4 days ago

April 22, 2024

Eric

Mr. Peter Obi, the Labour Party’s presidential candidate in the 2023 general election, has advised the federal government to prioritize existing unfinished projects spread across the country instead of the Lagos-Calabar coastal highway project.

Obi, in a series of posts on X (formerly Twitter) on Monday, stated that the project was a misplaced priority given the numerous unfinished roads throughout the country.

The former governor of Anambra State mentioned that the budget allocated to the Ministry of Works is insufficient for significant progress on the country’s various unfinished roads, much less their completion.

Obi therefore, advised that the government prioritize the existing infrastructural projects in the country before embarking on any new and colossal projects like the Lagos-Calabar super highway project.

“The Federal Ministry of Works 2024 capital budget of N892,461,262,656.00, additional funding from multilateral loan projects of N94,828,535,243.00, alongside other expected contributions from sources like the China-Exim Bank and the World Bank, will not be enough for serious work on all the critical roads, some of which I enumerated above, let alone their completion.

So, why embark on another huge project that will not be completed in the next 20 or 30 years?

“To do so will only exacerbate the problem of abandoned, uncompleted projects that are not contributing to economic growth and overall development.

“Therefore, while acknowledging the potential benefits of coastal superhighway infrastructure, I urge prioritization of our existing uncompleted projects. We must allocate resources towards repairing and completing existing infrastructure.

“In any development formula, the primary focus should be on completing and rehabilitating existing infrastructure rather than embarking on colossal new projects that may never reach completion within the next 30 years,” Obi said.

Back in March, the Federal Government began constructing the 700-kilometer Lagos-Calabar Coastal Highway, designed to extend through 9 states with two spurs leading to the Northern States.

Recall that former Vice President, Atiku Abubakar, had earlier described the project as a fraud.

“Umahi had announced that Hitech would fully fund the project, and based on this, there was no competitive bidding. He (Umahi) then said that Hitech could only raise just 6% of the money for the pilot phase. This smacks of deceit,” Atiku said.

Headline

2027 Presidential Race: Opposition Parties Under Attack

Published

5 days ago

April 21, 2024

Eric

By Eric Elezuo

While it is still a whole three years before the next general election in 2027, The Boss has learnt that opposition parties in the countries are being muffled to pave the way for the ruling All Progressives Congress (APC) to return to, and retain power.

From the Peoples Democratic Party (PDP), to the Labour Party (LP), and down to the New Nigerian Peoples Paty (NNPP), crises have engulfed the rank and files, in what a source told this paper was the attempt and making of the ruling party, APC, to decimate, destabilize and make redundant the machineries of the opposition parties.

It is believed that by 2027, the apparatuses holding together the various opposition parties would have weakened irredeemably to the extent the country would seemingly nosedive into the inglorious one party state that every civil right advocate and democrats abhor.

It is alleged that all the crises in all the opposition parties are being engineered by the President Bola Tinubu-led ruling APC, with the hope of getting the fibres of their system weakened, thereby luring the members of the crisis-ridden parties into the APC.

Slightly one year after the last presidential election, the two major opposition platforms, Peoples Democratic Party (PDP) and the Labour Party, have separately been embroiled in a crisis of confidence which has diminished their capacity to provide viable opposition to the ruling All Progressives Congress (APC).

The crises in both opposition parties got to a head. The Labour Party led by its national chairman Julius Abure held its much-opposed national convention which was boycotted by its 2023 presidential candidate, Peter Obi; its only governor, Alex Otti of Abia State; federal and state lawmakers elected on its platform, and the organised Labour.

In the Labour Labour, members have been embroiled in endless battle of supremacy with a faction led by Mr. Apapa steadily contesting the leadership of Julius Abure.

Consequently, the presidential candidate of the party in the 2023 elections, Mr. Peter Obi, reverence as a leader in the fold, noting that whatever the party faces presently, that Nigeria’s problems are far bigger than the crises in his party.

The LP has been embroiled in crises — ranging from allegations of misappropriation of funds, and leadership tussle, to calls for the resignation of the party’s national chairman.

TheCable reported that “On March 27, the LP conducted a national convention in Anambra state where Julius Abure was re-elected as its national chairman.

Obi did not attend the convention, fuelling speculations that he may be mulling over ditching the LP for another platform.

Speaking during an appearance on HaveYourSay247, an interactive online session hosted by Rudolf Okonkwo over the weekend, Obi said he is confident that the crises rocking the LP will soon be resolved amicably.

“Whatever is happening in the Labour Party is so minute compared to what is happening in the country,” Obi said.

“So, for me, it is something we will resolve amicably, and it is not anything to worry about. Let us worry about the country.

“Let us worry about how the average Nigerian would be able to have a means of livelihood to be able to eat, that should be our worry.”

Obi said he has no interest in being the party’s leader but only to make sure things are done properly.

“I don’t see what I do in politics as being the leader of any place or not. My position is that just like I always say, I am not desperate to be president of Nigeria, I am desperate to see Nigeria work because I know it can work,” he added.

“We have a more desperate situation. Parties are just a means to be able to contest elections. What is important is that being a leader of a party does not reduce the price of food.

In the PDP, the shenanigans of former Rivers State Governor, Mr. Nyesom Wike, has practically kept the party in constant crisis with many observers concluding that the now Minister of the Federal Capital Territory (FCT) is working for the APC, and is just a mole in the PDP. Wike has denied the allegation, however,

But news filtered in last week as that the immediate past Governor of Rivers State, and Minister may have concluded plans to attend the much advertised National Executive Council (NEC) meeting of the main opposition party, the Peoples Democratic Party (PDP), billed to hold on Thursday, in Abuja.

Impeccable source, who is in the know, told The Boss that the minister, whose membership of the PDP is yet to be revoked even as he frolicks with the ruling All Progressives Congress (APC), and serving in the President Bola Tinubu government as a minister.

The Source told The Boss that Wike’s impending presence at the NEC meeting on Thursday was not unconnected with plans, already hatched with some governors, to weaken the opposition PDP.

“Yes, we have on good authority that FCT minister, Wike is planning to attend the NEC meeting tomorrow all in a bid to weaken the fabrics of the PDP, and pave the way for the continuation of the Tinubu administration come 2027, and by extension, relapse Nigeria to a full blown one party state.

“From every indication, Wike and his co-travellers, are bent on unleashing the same crisis ravaging the third force, Labour Party, and Senator Rabiu Kwankwaso’s Nigerian National People’s Party (NNPP) on the PDP for the APC to remain the only political party in the country, and ensure that Tinubu has no challenger, come 2027,” the Source said.

It would be recalled that Wike has boasted over and again that there’s no opposition against Tinubu’s re-emergence in 2027, and that they have made sure of that. He has been compensated with the Ministerial job after he withdrew support for his party, and supported the APC and Tinubu to emerge as national government.

The Source further revealed that in the attempt to actualize the intended one party state, a lot of funding is ongoing to ensure that concerned stakeholders are ‘settled’ handsomely.

Wike, prior, during and after the 2023 general elections, has been floating in between the two major political parties; the APC and the PDP. While he claim to still be a member of the PDP, he is functioning as a minister in an APC government, mocking the inability of his party to discipline him.

While political stakeholders concluded that the outcome of the Thursday’s PDP NEC meeting will determine the path Nigeria’s political trajectory will take, and that it may portend the end of multi-party system and political democracy if Wike succeeds in his plan; every page of what finally transpired at the meeting pointed to the fact.

The much touted removal of the party chairman, who is believed to be a crony of the Abuja minister, Damagum, retained his seat, with his executives.

“It is very clear to everyone that a lot of money politics is being played to cajole many loyal members of the party, forcing them into frustration, and eventually it of the party. The option afterwards, will be the APC. This, will for all intent and purpose actualize the intended one party state as an APC agenda.

The Musa Rabiu Kwankwaso-led NNPP is not faring better either. The only governor under their ticket, Abba Kabir Yusuf, just had the confidence of their party on him withdrawn. He was fighting for his political life until suddenly it was announced the the APC in Kano has collapsed its structure into the NNPP.

“This is just another APC strategy to actualize their hidden intentions. Time will reveal the very sinister agenda they harboring,” an analyst said.

Much as 2027 is still three years away, but intrigues are in play to render Nigeria a one party state, and perpetuate the APC in power. The three other opposition parties are basically under attack to bring to pass this unpopular agenda.

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Akwa Ibom Government, Governor Umo Eno Receive Top Honors at the 10th Wonders of the World Expo in Lagos

Published

5 days ago

April 21, 2024

Admin

The Akwa Ibom State Government and Governor Pastor Umo Eno were recognized with Travellers Awards at the 10th Wonders of the World Expo in Lagos for their sustained enhancement of infrastructure, support for local talent, and dedication to investment in the tourism sector. The ceremony took place at the National Museum in Onikan, Lagos.

While Akwa Ibom won the Most Active Tourism State of the Year, Governor Eno was adjudged the most Tourism-Friendly Governor of the Year at the event that had Minister of Tourism, Mrs. Lola Ade John in attendance.

According to Amb. Ikechi Uko, Founder/Publisher of ATQ Magazine, the organizers of the event which is in its tenth edition, Akwa Ibom State won the top prize “in recognition of its valiant and resourceful efforts to drive and sustain domestic tourism by promoting the industry.

‘In 2023, Akwa Ibom was one of the states that hosted World Tourism Day (WTD ) events. The state also organized the famous Christmas Unplugged, which featured music, food, and cultures from all 31 LGAs as well as ensured friendly policies.”

While hoping that the Travellers Awards would spur Akwa Ibom to do more to dominate the domestic tourism industry, the organizers hoped that the state would gradually evolve into one of Nigeria’s top international tourism destinations.

That was not all, the state Commissioner of Culture and Tourism, Sir Charles Udoh was also recognized as one of the Top 100 Tourism Personalities in Nigeria for demonstrating exceptional leadership and innovation in the travel and tourism industry, while other Akwa Ibom indigenes and entity were also celebrated: Mrs. Ime Udo, Honorary Special Adviser to the Governor( Tourism) won Tourism Promoter of the Year, Favour Udo won Tourism Photographer of the Year, Loretta Effiong and Prince Uduak Sunday (Qua Tours) were listed among the Tourism Personalities of the Year and Ibom Air won Airline of the Year International.

In his remarks, Sir Charles Udoh, who represented the Governor at the event, thanked the organizers for the awards and noted that Akwa Ibom is certainly enjoying the golden era when it comes to tourism development. He stated that Governor Umo Eno is very keen on making Akwa Ibom a leading tourism destination with his programmes and policies.

He revealed that with the new Victor Attah International Airport nearing completion, the purchase of a ferry for the Oron-Calabar route, new developments along its coastline and the restoration work that will be done at all its major tourism sites, Akwa Ibom is well on the way to becoming the number one destination for all domestic and foreign tourists.

In her speech, Tourism Minister, Mrs. Ade John hailed the organizers for hosting the Expo, where practitioners were lectured by top experts while also rewarding those who have excelled in the past year.

She affirmed that her ministry is open to partnership with public and private sector operators, adding that tourism development can only be successful through collaborative efforts.

The event, which attracted leading and budding tourism professionals, also featured interactive and entertainment sessions.

Apart from Sir Charles Udoh and Mrs. Ime Udo, the Akwa Ibom State delegation, also included: Mr. Michael Effiong James, Senior Special Assistant (Lagos Liaison) to Governor, Mrs. Eme Bassey, Special Assistant to Governor (Lagos Liaison) and Akparawa John Offiong, Deputy Director ( Culture) Ministry of Culture and Tourism.

More photos below: