Opinion
Voice of Emancipation: The Irony of National Debt
Published
4 years agoon
By
Eric
By Kayode Emola
Last week, I wrote about the tale of two futures, considering how wealth is distributed geographically. I discussed the way the place of a person’s birth dictates their fate for life. In this week’s article, I want to consider national debt and how it affects our everyday living.
Many may wonder why a nation’s debt matters at all. However, if you are a follower of history, the understanding of how debt works can help us appreciate why there is the irony of plenty for a few whilst there is nothing for many.
Before the creation of this present nation state arrangement that we all are used to, what we used to have was kingdoms. Most of these kingdoms were sufficiently viable that they did not have to inflict debt upon their population. Each man contributed according to his ability towards the survival of the kingdom, and life was beautiful. Many people were able to bequeath inheritance to their descendants, passing down what they themselves had inherited, as well as what they had accumulated from their labour.
However, the Europeans’ quest for enlargement into other people’s territory in the Middle Ages saw these arrangements fade into oblivion. In this manner, the nation state of this present age was formed. As much as the quest for knowledge has improved our everyday living, it has done more damage than good. Modern civilization has ended up impoverishing the world, placing the wealth in the hands of a selected few.
For instance, if we look at the number of billionaires in the US compared to the total debt owed by the country, one may wonder why there has not been a policy put in place to compel these rich people to do more to share their wealth. The US as a nation owes around $28 trillion as of 2021, a figure that is projected to continue to rise, making it a highly probable prospect that the US could go bankrupt in the near future. The combined fortune of the US billionaires is around $4.8 trillion, with many of them paying taxes that are not proportionate to their earnings, compared to the everyday regular person.
As much as countries like the USA, UK, France and Australia, which are world economic powers, are heavily indebted, many other smaller countries are extremely wealthy. For instance, Norway, which has a population of around 5 million people, has a sovereign wealth fund of around $1.3 trillion, compared to a total debt of around $171 billion . Norway doesn’t have to borrow money to run the economy because it is consistently in surplus.
Another good example of a country that has maximised their fortune over the years, and so avoided the spiral of national debt, is Brunei. The small Asian country is currently the fifth richest nation in the world, receiving most of its income from the sales of crude oil. This has enabled it to provide free education, subsidized housing and no income or sales tax levied on its citizens.
These above statistics show us why African countries are heavily indebted. The fact that we were once colonised by many of the European nations that have huge burden of national debt meant that we weren’t allowed to develop at our own pace. We have inherited a system that is alien to our culture, impoverishing the majority of our people just to benefit a few in society.
Nigeria today, with all its wealth from mineral resources and many more still untapped, is now on an increasingly perilous slide into a huge national debt. With the advent of democracy in 1999, and the concerted efforts to renegotiate our national debt by the Obasanjo/Atiku regime, Nigerians were hoping that a glorious dawn for this sleeping giant was about to begin. In his wisdom, Obasanjo ensured that Umaru Musa Yar’Adua, the most prudent Governor during his presidency, got elected to take over from him. This he did to ensure that greedy politicians were not given the chance to loot the treasury and the common wealth of our people, which would otherwise drive our people deeper into debt.
Alas, no one expected that Yar’Adua would die before the end of his tenure, thereby paving the way for his deputy, Goodluck Jonathan, to succeed him. He would allow greedy politicians, lacking the nation’s best interests at heart, to loot the treasury and plunge the nation back into the desolate days of huge national debt. Today we have an even greater problem on our hands, as the revenue of the country is insufficient to meet its debt.
The population explosion in Nigeria is also not helping matters. As the seventh most populous country in the world at present, and the prospect looming large of becoming number two by the end of the century, this level of national debt will become a burden too great for the country to be able to bear.
Already Nigeria spends over 80% of her revenue on servicing debt, yet the mere survival and day-to-day running of the country is dependent on taking out even more debt. If this is allowed to continue uncurbed, everything we have as a country will end up endowed to a foreign corporation or government. This in itself is a modern form of slavery, where the government of a country cannot dictate what happens in their own land. They will be forced to submit to instruction from a foreign agency or government, dictating how they are to control the assets that ought to be for the benefit of their people.
In view of this travesty of national debt which is capable of keeping us in perpetual bondage in Nigeria, I believe it is time for the Yoruba people to get their act together and run from this oncoming danger bearing down on us. Many people cling to the belief that one day a Messiah will arrive and steer Nigeria to greatness. I must disagree with this, as experience over the years has shown that the lot of our people continues to dwindle since the nation’s independence in October 1960. The worst case now facing Nigeria sees the month of October as no longer a time to celebrate getting our independence, but instead becoming a time of mourning, commemorating the victims of the ENDSARS killing, and marking the time our voices were crushed by tyranny.
The fact that this happened on Yoruba soil should shock every Yoruba person who is still in their right frame of mind. We the Yorubas are not obliged to remain in a Nigeria that continues to deprive our people of their basic human right to freedom, just because some people want us to. The call now is for the Yoruba people, both home and abroad, to have a round table discussion on whether we continue to allow Nigeria steal from us everything we inherited from our ancestors; or instead to walk away from Nigeria whilst we still can, to save us and our descendants from this impending doom. The ball is now in our court to decide what future we want for our people. The generations to come will be the judge of our decision: will we have failed them or helped to shape for them a better future?
Related
You may like
Opinion
Give What, to Gain What? Reflections on the 2026 International Women’s Day Theme
Published
1 day agoon
March 5, 2026By
Eric
By Oyinkansola Badejo-Okusanya
At first glance, the theme of this year’s International Women’s Day celebration sounded a little odd to me.
Last year’s theme, Accelerate Action, was clear enough. You read it and immediately understood it as a call to move faster, push harder, do more, close the gaps. It was energetic, direct and unambiguous.
But “Give To Gain”? Give what? To whom? And to gain what, precisely? How is giving a pathway to gender equity? In the legal profession, and in leadership generally, we are trained to think in terms of advantage. What do I gain? What do I secure? What do I protect? But the more I reflected, the more I realised that perhaps that reflection was the point. Because my reflection took me to some of the most defining moments in my professional journey, and they did not come from what I took. They came from what someone chose to give.
A colleague who gave me insights instead of indifference, a leader who gave me visibility in a room where my voice would have been overlooked, a mentor who gave me honest feedback when flattery or a comfortable silence would have been easier.
None of those acts diminished them. They did not lose relevance, influence, or authority. If anything, their giving expanded their impact. Sometimes, some of us act as though giving someone else room to rise somehow shrinks our own space. But leadership does not weaken when it is shared wisely. It deepens.
That is the quiet power behind “Give To Gain”, and the paradox at the heart of this year’s theme. “Give To Gain” is not a call to diminish ourselves. It is a call to invest in one another because when we give from strength, we gain strength. So give respect.
give access. Give honest evaluation. Give opportunity without prejudice. And you will gain trust, loyalty and potential. Give mentorship and gain contunuity, give equal footing and gain the full measure of talent available. That kind of giving multiplies gain.
So perhaps the theme is not so odd after all. In a world that often asks, “What do I stand to lose?” this year’s International Women’s Day asks instead, “What could we stand to gain, if we were all willing to give?”
In the context of gender equity, the theme becomes even more compelling. Giving equal footing is not about doing women a favour; it is about acknowledging merit. When barriers fall, capacity rises to the surface. When access expands, talent flourishes. When women thrive professionally, institutions gain.
Against this backdrop, I began to think about the remarkable women who embodied this principle long before it became a theme. Women who gave intellectual rigour to complex situations and gained distinction. Women who gave courage and resilience in the face of resistance or in rooms where they were the only one, and gained respect. Women who gave mentorship to younger women and gained a legacy that cannot be erased.
Women who gave integrity to public service and the private sector and gained trust and admiration that cannot be manufactured.
Women whose boldness did not ask for permission to contribute. They did not lower their standards to fit expectations.
They gave of their intellect, their discipline, their time and their resilience, and in doing so they expanded the space for others. That is the spirit I want to honour this IWD month.
Beginning tomorrow, on International Women’s Day and continuing through all the remaining days of March, I will be celebrating a female icon who exemplifies this principle. Women who have given and gained. Each day, one story. One journey.
One example of boldness in action. Not to romanticise their journeys or suggest that their paths were easy, but to illuminate them and show what is possible when you dare to try.
Each profile will tell a story of contribution and consequence, of how giving strengthens, and how excellence, when sustained with integrity, inevitably earns its place.
My hope is that other women will read these stories and recognise themselves in them. That men also will read them and see leadership, not limitation. And that we will all be reminded that progress is rarely accidental. It is built, often quietly, by those willing to give more than is required.
If this year’s theme “Give To Gain” means anything to me, it means that we must intentionally amplify the inspiring examples that prove what is possible when women are bold.
Because inspiration and visibility are forms of giving. And sometimes, the simple act of telling a story is the spark that lights ambition in someone who was unsure where or whether she belonged.
This March, I choose to give inspiration and visibility and honour where it is so richly deserved.
And I trust that in doing so, we will gain a stronger world, a clearer sense of direction and possibility and another generation of women bold enough to step forward without apology.
Now the theme no longer seems strange. Now I understand that when we give boldly, we gain collectively. And that is a theme worth celebrating.
Oyinkansola Badejo-Okusanya, SAN FCIArb
Related
Opinion
Beyond the Vision: The Alchemy of Turning Ideas into Execution
Published
6 days agoon
February 28, 2026By
Eric
By Tolulope A. Adegoke PhD
History is littered with the skeletons of great ideas that never saw the light of day. In boardrooms and basements across the world, concepts with the power to reshape industries lie dormant, suffocated not by a lack of merit, but by a lack of execution. We live in an era that venerates the “light bulb moment,” yet the painful truth, as articulated by venture capitalists and historians alike, is that ideas are a dime a dozen; it is execution that is richly rewarded . The journey from the spark of imagination to the tangible reality of a finished product, a profitable corporation, or a thriving nation is an alchemical process. It requires the transformation of abstract thought into concrete action—a discipline that separates the dreamer from the builder. This evolution of an idea into reality is not a mystical event but a replicable process, best understood through the distinct exemplars of visionary individuals, resilient corporations, and transformative nations.
The Individual: The “Thinker-Doer” Synthesis
The romantic notion of the genius lost in thought, sketching blueprints while others do the heavy lifting, is a seductive myth. The reality, as demonstrated by history’s most impactful figures, is that the major thinkers are almost always the doers. Steve Jobs, a figure synonymous with innovation, famously articulated this principle by invoking the ultimate Renaissance man, Leonardo da Vinci. Jobs argued that the greatest innovators are “both the thinker and doer in one person,” pointing out that da Vinci did not have a separate artisan mixing his paints or executing his canvases; he was the artist and the craftsman, immersing himself in the physicality of his work . For Jobs, this synthesis was the guiding doctrine of Apple. He understood that abstract ideation is sterile without the feedback loop of hands-on mastery. The refinement of the Mac’s typography, the feel of a perfectly weighted mouse, the intuitive interface of the iPhone—these were not born from pure theory but from an obsessive, tactile engagement with the building process. The “doer” digs into the hard intellectual problems precisely because they are engaged in the act of creation.
This principle is further illuminated by the career of Elon Musk. While often perceived as a master inventor, Musk’s greatest genius may lie in his ability to execute existing ideas at a scale and speed previously thought impossible. He was not a founder of Tesla on day one, but he stepped in to spearhead its execution, transforming an electric vehicle concept into a global automotive powerhouse. At SpaceX, he inherited the age-old idea of space travel but revolutionized its execution by challenging fundamental cost structures and vertically integrating manufacturing. Musk embodies the “thinker-doer” by immersing himself in the engineering details, sleeping on the factory floor, and distilling complex challenges down to their fundamental physics. Both Jobs and Musk validate the venture capital adage that investment is placed not in ideas, but in the people capable of navigating the treacherous path from Point B to Point Z—the messy, unglamorous grind where visions are either realized or abandoned.
“In the architecture of achievement, ideas are merely the blueprints; execution is the foundation, the steel, and the mortar. A blueprint without a builder is just a dream drawn on paper” – Tolulope A. Adegoke, PhD
The Corporation: Engineering the Culture of Execution
For corporations, the evolution of an idea into reality is not a one-time event but a cultural imperative. It demands a structure and a philosophy that bridges the notorious gap between strategy and outcome. Procter & Gamble (P&G), a consumer goods giant, provides a master-class in adapting its execution model to survive and thrive. Despite investing billions in internal research and development, P&G recognized that its traditional closed-door approach was failing to meet innovation targets. The company evolved its idea-generation process by embracing “Connect + Develop,” opening its innovation pipeline to external inventors, suppliers, and even competitors. This shift in mindset was merely the idea; the reality was the rigorous, internal execution that vetted, integrated, and scaled those external concepts—like the Mr. Clean Magic Eraser, which was discovered as a prototype in Japan and flawlessly executed by P&G’s operational machine. The company’s success hinges on what researchers call “imaginative integrity”—the ability to make an imagined future so tangible that the entire organization can build toward it.
Similarly, UPS stands as a testament to the power of “creative dissatisfaction.” For over a century, UPS has operated not on bursts of pure invention, but on the relentless engineering and re-engineering of its systems. Founder Jim Casey instilled a culture where the status quo was perpetually questioned—from testing monorail-based sort systems to optimizing delivery routes with algorithmic precision. The idea was not merely to deliver packages, but to create the pinnacle of logistical efficiency. The execution involved tens of thousands of employees “pulling together” to transform the organization repeatedly, embracing changes that ranged from entering the common carrier business in the 1950s to mastering e-commerce logistics in the 1990s. These companies succeed because they build what management experts call the “five bridges” to execution: the ability to manage change, a supportive structure, employee involvement, aligned leadership, and cross-company cooperation. At Costco, this is embodied by CEO James Sinegal, whose Spartan office and relentless focus on in-store details align leadership behavior with the company’s razor-thin margin strategy, proving that execution is modeled from the top down.
The Nation: The Political Economy of Progress
The evolution of ideas into reality scales beyond individuals and firms to the very level of nations. The economic trajectories of countries are determined by their ability to adapt foreign concepts and execute them within local contexts. The post-war rise of Japan is perhaps the most powerful example of this phenomenon. In the early 20th century, Japan was exposed to American ideas of scientific management, but the devastation of World War II left its industrial base in ruins. The idea that saved Japan was quality control, imported through lectures from American scholars W. Edwards Deming and Joseph Juran. The genius of Japan, however, was not in the adoption of the idea, but in its adaptation. Private organizations like the Union of Japanese Scientists and Engineers (JUSE) took the lead, transforming foreign theories into the uniquely Japanese practice of Total Quality Management (TQM) and the grassroots phenomenon of Quality Control circles. This was not government-mandated execution; it was a national movement of “thinker-doers” on the factory floor, relentlessly refining processes. The evolution of this idea rebuilt a nation, turning “Made in Japan” from a byword for cheap goods into a global standard for reliability.
In contrast, Singapore represents a different model of national execution: the state as a strategic architect. Upon independence, Singapore possessed few natural resources and a uncertain future. The government, however, possessed a clear-eyed vision of industrial development. It actively sought external assistance from the United Nations and Japan, but crucially, the Singaporean authorities acted as the “agent of adaptation” . They did not passively accept advice; they made decisive judgments about what was relevant to their unique circumstances and demanded specific adaptations. This disciplined, top-down execution of economic strategy—from building world-class infrastructure to enforcing rigorous education standards—evolved the idea of a “sovereign nation” into the reality of a first-world entrepôt. The contrast with nations like Tunisia, where external donors took the lead due to a lack of domestic policy clarity, highlights a fundamental truth: ideas flow freely across borders, but the ability to execute them is a domestic condition, cultivated through leadership and institutional will.
Conclusion: The Integrity of the Build
Ultimately, the evolution of an idea into reality demands what can be termed “imaginative integrity”—the unwavering commitment to binding the vision to the execution. It is a concept that applies equally to the Renaissance painter mixing his own pigments, the CEO sleeping on the factory floor, and the nation-state meticulously adapting foreign technology. The world is full of “crude ideas” that lack the refinement of execution; even a brilliantly designed structure like MIT’s Stata Center can falter if the craftsmanship of its realization is flawed.
The journey from “A to Z” is long, and the gap between strategy and outcome is the graveyard of potential. To traverse it, one must recognize that thinking and doing are not sequential acts but concurrent disciplines. The doers are the major thinkers, for they are the ones who test hypotheses against reality, who adapt to feedback, and who possess the grit to push through the inevitable obstacles. Whether it is a nation reshaping its economy, a corporation reinventing its logistics, or an individual defying the limits of technology, the lesson remains constant: the future belongs not just to those who can dream it, but to those who can build it.
Vision sees the path; execution walks it, blisters and all. The distance between a dream and a legacy is measured only by the courage to begin the work.
History does not remember the whisper of a thought, but the echo of its impact. To think is human, but to execute is to leave a mark on time.
Dr. Tolulope A. Adegoke, AMBP-UN is a globally recognized scholar-practitioner and thought leader at the nexus of security, governance, and strategic leadership. His mission is dedicated to advancing ethical governance, strategic human capital development, and resilient nation-building, and global peace. He can be reached via: tolulopeadegoke01@gmail.com, globalstageimpacts@gmail.com
Related
Opinion
How an Organist Can Live a More Fulfilling Life
Published
2 weeks agoon
February 23, 2026By
Eric
By Tunde Shosanya
It is essential for an Organist to live a fulfilling life, as organ playing has the capacity to profoundly and uniquely impact individuals. There is nothing inappropriate about an Organist building their own home, nor is it unlawful for an Organist to have a personal vehicle. As Organists, we must take control of our own futures; once again, while our certificates hold value, organ playing requires our expertise. We should not limit ourselves to what we think we can accomplish; rather, we should chase our dreams as far as our minds permit. Always keep in mind, if you have faith in yourself, you can achieve success.
There are numerous ways for Organists to live a more fulfilling and joyful life; here are several suggestions:
Focus on your passion. Set an example, and aim for daily improvement.
Be self-reliant and cultivate harmony with your vicar.
Speak less and commit to thinking and acting more.
Make choices that bring you happiness, and maintain discipline in your professional endeavors.
Help others and establish achievable goals for yourself.
Chase your dreams and persist without giving up.
“Playing as an Organist in a Church is a gratifying experience; while a good Organist possesses a certificate, it is the skills in organ playing that truly matter” -Shosanya 2020
Here are 10 essential practices for dedicated Organists…
1) Listen to and analyze organ scores.
2) Achieve proficiency in sight reading.
3) Explore the biographies of renowned Organists and Composers.
4) Attend live concerts.
5) Record your performances and be open to feedback.
6) Improve your time management skills.
7) Focus on overcoming your weaknesses.
8) Engage in discussions about music with fellow musicians.
9) Study the history of music and the various styles of organ playing from different Organists.
10) Take breaks when you feel fatigued. Your well-being is vital and takes precedence over organ playing.
In conclusion, as an Organist, if you aspire to live towards a more fulfilling life in service and during retirement, consider the following suggestions.
1) Plan for the future that remains unseen by investing wisely.
2) Prioritize your health and well-being.
3) Aim to save a minimum of 20 percent of your monthly salary.
4) Maintain your documents in an organized manner for future reference.
5) Contribute to your pension account on a monthly basis.
6) Join a cooperative at your workplace.
7) Ensure your life while you are in service.
8) If feasible, purchase at least one plot of land.
9) Steer clear of accumulating debt as you approach retirement.
10) Foster connections among your peers.
Related


The Oracle: The New Digital Colonialism: Navigating AI Policy Under Foreign Tech Dominance (Pt. 1)
Presidency Releases Postings of Ambassadors-designate
Court Grants Malami, Family N200m Bail
Israeli Ambassador Accuses Iran of Spreading Terror, Sponsoring Extremist Activities in Nigeria
Mike Ozekhome Celebrates Obasanjo at 89, Says Former President Wiser with Age
Friday Sermon: Reflections on Ramadan 3: Spiritual Stocktaking
Akinwumi Adesina Celebrates Obasanjo at 89
Prof Jide Owoeye: When a Distinguished Academic Turns 70
NELFund Extends Deadline for Student Loan Applications Nationwide
Beyond the Vision: The Alchemy of Turning Ideas into Execution
Federal Government Issues Travel, Safety Warning for Nigerians in Iran, Gulf States
Iran’s Supreme Leader Khamenei Cut Off from Contact, Fate Unknown
Why Nigerians Must Reject INEC’s Revised Timetable – ADC
Iran Confirms Supreme Leader Ali Khamenei Dead after US-Israeli Attacks
Trending
-
Boss Of The Week6 days agoProf Jide Owoeye: When a Distinguished Academic Turns 70
-
News3 days agoNELFund Extends Deadline for Student Loan Applications Nationwide
-
Opinion6 days agoBeyond the Vision: The Alchemy of Turning Ideas into Execution
-
National6 days agoFederal Government Issues Travel, Safety Warning for Nigerians in Iran, Gulf States
-
Middle East6 days agoIran’s Supreme Leader Khamenei Cut Off from Contact, Fate Unknown
-
Headline6 days agoWhy Nigerians Must Reject INEC’s Revised Timetable – ADC
-
Middle East5 days agoIran Confirms Supreme Leader Ali Khamenei Dead after US-Israeli Attacks
-
Featured4 days agoShiites Protest in Kano over Killing of Iran’s Supreme Leader

