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Opinion: Leading with Less While Building for Development – Tackling Nigeria’s Infrastructure Conundrum- Oyin  Adeyemi

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By Oyin Adeyemi

The theme could not be more apt for the current times as throughout the world, following the war in Ukraine, the news is grim.

Here are some global headlines:

  • Forbes: Global Economy Headed into Recession
  • Reuters: Energy, inflation crises risk pushing big economies into recession, OECD says
  • Fortune: Economic growth could grind to a halt and spark global recession next year, OECD says
  • Risk of Global Recession in 2023 Rises Amid Simultaneous Rate Hikes – The World Bank.

 

In Nigeria,

  • The Vanguard Newspaper: Nigeria risks 3rd recession in 7yrs, NACCIMA warns FG
  • Sahara Reporters: Nigeria’s Domestic, Foreign Debts Rise to N41trillion Under Buhari, Equal N200,000 Per Nigerian
  • The Guardian: Nigeria broke, can’t fund 2023 capital projects, Ngige cries out
  • Nairametrics: Nigeria’s inflation rate surges to a 17-year high of 19.64% in July 2022

From these headlines, one thing is certain, the government has no choice but to “lead with less.” – Now, How?

 

As a business leader, political theorist and public commentator, I am always curious about how we can keep orienting and expanding our understanding of what quality/good leadership is all about.  Every society’s strength is largely determined by the calibre of its leadership. Throughout history, successful societies have been those whose leaders have been able to rise to the occasion and calm storms during crises while also advancing the course of prosperity during times of peace. Without leadership, a nation or organisation is like troops without a General, or a ship without a Captain. This is to emphasise the significance of leadership.

Simply put, we know that good leadership recognises that it cannot know everything that needs to be known and, as a result, will seek to expand knowledge as needed, as well as seek diverse perspectives to inform decision-making. Good leadership always demonstrates effective communication and listening skills; prioritises the interests of society over personal agenda; makes difficult decisions and develops long-term plans for the benefit of society as a whole.

Asue Ighodalo, Lami Adeyemi, Danladi Verheijen, Sultan of Sokoto, His Eminence Muhammadu Sa’ad Abubakar, Aigboje Aig-Imoukhuede, Dr Derin Awosika & Dr Omotola Johnson

Poor leadership, on the other hand, focuses on individual agenda, is single-minded in decision-making, does not consider different ideas or perspectives, cannot take criticism, is uninformed, and does not plan beyond its tenure.   

 Irrespective of poor leadership, History teaches us that some industries have thrived in a recession, especially those in which the consumer demand is relatively stable. In this category, we have food, consumer staples, healthcare and basic transportation.

Similarly, during the COVID-19 pandemic, we saw tech companies that specialise in online and remote services experience a boom.

So, the good news is that it is not all doom and gloom because with recessions also come the opportunity to think differently and innovatively.

 

Infrastructure as an Engine for Economic Growth

Investment in transportation, water, buildings, electricity, education and security creates jobs and serves as the backbone of a healthy economy.

Although the World  Bank warned of the risk of a global recession in 2023, as I earlier highlighted, it is an interesting thing to note that some World Bank reports have shown the links between investments in good security, education, electricity, internet, and road infrastructure and economic development using the Horn of Africa and Lake Chad regions as case studies.

Oniru of Iruland, HRM Oba Gbolahan Lawal, Sultan of Sokoto, His Eminence Muhammadu Sa’ad Abubakar & Mr Tunde Folawiyo

While the focus of that research was to show the transition from agriculture to manufacturing and services, I am not suggesting that Nigeria does not need to invest in agriculture.  However, I want to paint a picture of how a region dealing with drought and terrorism – very similar challenges to those in northern Nigeria – could become more prosperous due to infrastructural development.

The World Bank report states that:

  • access to paved roads led workers to move out of low-productivity agricultural endeavours primarily into manufacturing and services in Kenya and Ethiopia. This resulted in a 6% reduction in the workforce employed in agriculture in the Horn of Africa and a 3% reduction in Lake Chad.
  • bundling road investments with access to electricity leads to a much bigger impact. The share of employment in agriculture fell by as much as 20% in the Horn of Africa and 23% in Lake Chad. In this case, workers shift mostly into manufacturing in the Horn of Africa and into the services sector in Lake Chad.

 

What if we took some of these learnings and adapted them locally?

 

Tackling Nigeria’s Infrastructure Conundrum

I would like to recommend few ways (some of which are self-explanatory) ‘to lead with less while building for development – to tackle Nigeria’s infrastructure conundrum,

  1. Nigeria must see infrastructure development as a solution and not a cost.
  • Security- a viable system to ensure safety of the people
  • Education- invest in educating the people to understand
  1. Nigeria must learn to preserve and maintain
  2. Nigeria must do away with a recency bias
  3. Nigeria must learn to build a strong and lasting system (Infrastructure & credit system)

 

  1. Seeing infrastructural development as a solution and not a cost

No doubt infrastructure development is expensive and the government has scarce resources, nonetheless, the multiplier effect is enormous. Irrespective, it is pertinent for good leadership that a government seeks to guarantee that security of its people and empower its citizens with knowledge through an adequate education system for the general growth and development of the nation.  This also impacts diverse areas of the economy. For instance, where there is adequate security and education in the agricultural sector, the quality and quantity of agricultural produce shall increase. As such, with the impact of sufficient infrastructural developments such as good roads and rail networks, farmers will largely increase their access to bigger regional markets and lead to reduced losses from perishable goods. The increased supply will also lead to price reductions for goods. This is one way to tackle food inflation.

Infrastructure connects workers to their jobs. Good infrastructure means that employees can get to and from work quicker and safer. The less time people spend in traffic, the more productive they will be. In 2021, Expert Market UK released a list of The World’s Most Productive Countries in 2020 relying on information from the OECD and World Bank dat. This work outs which countries had the most effective financial return while spending the least amount of time in the office. The cities were ranked for infrastructure, stability, culture and environment, healthcare, and education.

Luxembourg, the smallest country on the list “with almost double the productivity score than second-placed Ireland, this tiny nation paved the way in 2020 in terms of productivity thanks to its 40-hour working week, booming financial sector, minimum of 5 weeks paid annual leave, and prohibited employment on Sundays,” said Expert Market. The other countries in the top ten were; Norway, Switzerland, Denmark, Netherlands, Germany, Austria, Iceland and Sweden. In 2022, Luxembourg, Ireland, Norway and Switzerland still made the top 10 – with Luxembourg retaining the number one position according to the World Population Review.

Interestingly, some cities from these countries were also ranked by the Economist Intelligence Unit’s (EIU) Global Liveability Index 2022 among the 10 best cities to live in around the world.   Vienna, Austria (1st); Copenhagen, Denmark (2nd); Zürich, Switzerland (3rd); Geneva, Switzerland (6th); Frankfurt, Germany (7th); and Amsterdam, Netherlands (9th).

  1. Preserving and maintaining

Over the last two weeks, the funeral ceremony of the late Queen Elizabeth  II (the Second) dominated the news. Whether or not you are interested in the British monarchy, you were inundated with the news and for the United Kingdom, it was yet another opportunity to put on display one of the country’s most marketable assets, her history and culture. This was only possible because the United Kingdom has preserved its history through documentation and maintenance of historical sites and monuments.

St James’s Palace in London, where King Charles III (the Third) was officially proclaimed King, and which a commentator described as the less popular of the palaces could very well become a tourist attraction. A story published in a UK Metro report published on 18 September states: “According to the 2019-20 annual report, a record 3,285,000 people visited the official residences, generating approximately £49,859,000.”

  1. Doing away with a recency bias

Do you know a restaurant that was once the toast of the neighbourhood until another was opened on the opposite side of the street?

We love new things but in times when we need to “lead with less,” we must do away with the recency bias. Rather than demolishing a building and rebuilding it from scratch, how about upgrading it? According to a 2017, Business Insider article, one of the world’s richest men, Warren Buffet, lives in the same house he bought in 1958. Doing away with a recency bias will help us preserve and maintain

  1. Building to last

To be able to preserve and maintain, we must also build to last. It requires Nigeria, from the outset, to invest in infrastructure that will outlive generations. There are too many sore stories of collapsed buildings, old and new. Clearing the rubble and compensating the loved ones of those who die in collapsed buildings is costly. Refurbishing roads after the rainy season also translates to economic costs. In the long run, it will be cheaper to invest in quality infrastructure.

Also, we must build a strong and lasting credit system, which gives people the hope for growth and in turn development, as more people will be empowered by the credit system to make good and lasting investments.

And in closing,  I say: “Leading with Less While Building for Development” is inevitable in today’s increasingly challenging world that is affected by poverty, climate change, war and numerous factors beyond our control. It is a leadership imperative that is binding on all of us.

Oyin Adeyemi -Chairperson/ Group Managing Director, Still Earth Holdings delivered this paper at the Dr Lateef Adegbite Memorial Series on Leadership in Lagos

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Why Tinubu Was Absent at Commissioning of Sanwo-Olu’s Projects in Lagos – Presidency

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The Presidency has come up with reasons behind President Bola Tinubu’s absent at the commissioning of Governor Babajide Sanwo-Olu’s projects in Lagos, on Wednesday.

Tinubu was noticeably absent at the scheduled project commissioning in Lagos, sparking public curiosity.

However, Sunday Dare, his Special Adviser on Public Communications and Orientation, has clarified the reason behind the last-minute development.

Speaking during an interview on Channels Television, Dare revealed that the President had to prioritise urgent national security matters over the event.
According to him, although Tinubu is currently in Lagos, he has been deeply engaged in high-level State duties, particularly ongoing security briefings tied to recent developments across the country.

“The president has been busy taking constant briefs and has to prioritise when it comes to state matters, especially security,” Dare stated.

He referenced rising security concerns, including recent unrest linked to incidents in Jos, noting that the President has been closely monitoring the situation and working directly with intelligence agencies.

Dare emphasised that Tinubu remains fully engaged behind the scenes, actively coordinating with security operatives and receiving continuous updates to address emerging threats.

The absence, he stressed, should not be seen as neglect of official duties but rather a reflection of the President’s focus on safeguarding national stability at a critical time.

Tinubu skipped the Lagos commissioning not out of disregard, but to handle pressing security issues demanding immediate presidential attention.

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Benin Republic 2026: Romuald Wadagni, The President in Waiting

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By Eric Elezuo

As the presidential election draws very close, one man stands taller than most of the candidates that would be on the ballot paper, or may have been on the ballot paper as far as the presidential election in Benin Republic is concerned. He is the hard working and most Indefatigable achiever, Monsieur Romuald Wadagni.

He us young, able and full of experience, having practiced positive and sincere politics for a very long in his young existence.

Wadagni comes across as the typical chip off the old block, when it comes to genuine leadership qualities and agenda. He has been tested, trusted and ready to take up the mantle of leadership towards providing genuineness and purposeful living condition for the people of Benin Republic.

In 10 consecutive years, since he was 39, Wadagni, has supervised the Finance and Economy ministry without blemish, and has received accolades from far and wide.

It is therefore not a fluke as the 49 years old, Romuald Wadagni was nominated as the ruling majority’s candidate for the upcoming presidential election in Benin.

Consequently, listed below are three things to know about him: 1:he has been the Minister of Finance for nearly 10 years. Romuald Wadagni was appointed Minister of Economy and Finance in April 2016. He was reappointed to the position in 2021 with the rank of Minister of State. He is considered one of the main architects of Benin’s economic recovery.

At the end of January 2025, he welcomed “average growth of more than 6.5% in recent years.” In 2018, Financial Afrik magazine ranked him among the 100 African personalities transforming the continent. In December 2024, the same media outlet named him “Best Finance Minister in Africa,” praising Benin’s macroeconomic stability in the face of international crises. 2: He is an expert in finance and accounting. Romuald Wadagni is a chartered accountant. After studying finance, private equity, and venture capital, he began his professional career in 1998 at Deloitte, one of the largest audit and consulting firms in the world.

At Deloitte, Romuald Wadagni rose through the ranks and successively held several positions of responsibility in France, the United States, and then in Francophone Africa. In 2012, at the age of 36, he became a partner at Deloitte. He later led the firm’s expansion across the African continent. After 17 years, he left the firm in April 2016 when he was appointed Minister of Economy and Finance of Benin.

He is the heir apparent of Patrice Talon. After two consecutive terms, President Patrice Talon, who can no longer run again, had promised to play an active role in choosing his successor. On August 31, 2025, he officially endorsed his Minister of Finance, Romuald Wadagni, as the candidate of the presidential majority.
This designation was confirmed in a joint statement by the Union Progressiste le Renouveau (UPR) and the Bloc Républicain (BR), the two main parties of the majority. On October 4, 2025, in Parakou, Romuald Wadagni and Mariam Chabi Talata, the current Vice President, were officially nominated during a major rally of the presidential majority. In his speech, the candidate minister promised to “consolidate the achievements” of his predecessor.

 

Prior to entering politics, Wadagni worked for the consulting firm Deloitte for 17 years. He was first appointed the minister of economy and finance on 7 April 2016, in the first Talon government, and subsequently reappointed in 2021 with the rank of senior minister.

Wadagni was born in Benin in 1976 in Lokossa, the eldest of five children. His father, Nestor Wadagni, a statistician and economist with a degree from ENSAE, had a career in the Beninese civil service before writing a thesis in fundamental mathematics after his retirement.From an early age, he took an interest in manual work and trained himself in bricklaying and mechanics.

After obtaining a scientific baccalaureate in Benin, he continued his studies in France. From 1995 to 1999, he studied at the École supérieure des affaires de Grenoble (ESA) where he obtained a master’s degree in finance, graduating top of his class. During his studies in Grenoble, he met a partner from Deloitte who identified his potential and recruited him into the consulting firm in 1998.Among honours attached to his ebullient services and achievements, are as follows:

In 2021, the financial newspaper Financial Afrik named Romuald Wadagni “Best African Minister of Economy and Finance”.

In 2024, the financial newspaper Financial Afrik named him “Finance Minister of the Year” for the 4th time in its ranking of “The 100 who are transforming Africa”.

ROMUALD WADAGNI AT A GLANCE 

Romuald Wadagni is Senior Minister in charge of Economy and Finance of Benin. He was appointed on April 7, 2016, in the first government of President Patrice Talon and reappointed to this position in May 2021.

Romuald Wadagni is a public accountant certified in France and the USA. He also holds a master’s degree in finance and has completed specialized training in private equity and venture capital.

Before being appointed Minister of Economy and Finance in 2016, Romuald Wadagni had a leading international experience within Deloitte. In France from 1998, then in the United States from 2003, he developed cutting-edge expertise in several fields, serving customers in various sectors of activity (Mining, TMT, Financial Sector, Public Sector, Retail) and various governments and donors.

Wadagni is a handful in service delivery, transformation and economic re-engineering. He is the best suited for the presidency of Benin Republic as election holds on Sunday, April 12, 2026

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ADC Raises Alarm over INEC’s Plot to Prevent Party from Fielding Candidates

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The African Democratic Congress (ADC) has revealed the deliberate administrative landmines being deployed by the Independent National Electoral Commission (INEC) to prevent the Party from fielding candidates in the upcoming elections.

In a statement signed by its National Publicity Secretary, Mallam Bolaji Abdullahi, the party stated that at the heart of this emerging crisis is INEC’s stated position that it will no longer receive any correspondence from the ADC pending the determination of a matter before the Federal High Court. On its face, this may appear procedural. In reality, it creates a direct and dangerous conflict with the clear timelines imposed by the Electoral Act (2026), which provides defined windows, including the mandatory 21-day notice period and subsequent submission requirements, within which political parties must complete critical electoral processes.

The full statement reads:

We are compelled to raise serious concerns about a developing situation that appears designed to prevent the African Democratic Congress (ADC) from fielding candidates in the upcoming elections. It is based on documentary evidence which we are now placing before the Nigerian public, including certified INEC records, attendance logs, monitoring reports, and excerpts from the Commission’s own sworn affidavit. Taken together, these documents establish a clear and consistent record of events.

INEC received formal notice of the July 29, 2025 National Executive Committee (NEC) meeting of the ADC. It deployed officials to monitor that meeting. It documented the proceedings and received formal reports from its field officers. Following this, INEC updated its internal records and uploaded the names of the new leadership, including Senator David Mark as National Chairman and Ogbeni Rauf Aregbesola as National Secretary.
These are not claims. They are facts contained in INEC’s own records.

In addition, the Commission’s sworn affidavit before the Federal High Court, in its response to Nafiu Bala Gombe on 12 September 2025, particularly in Clauses 14 to 19, affirms key legal principles: that the leadership transition had already been completed and recognized, that such internal party matters fall outside the scope of judicial interference, that completed acts cannot be reversed by injunction, and also recognizes the David Mark-led NWC.

Yet, despite this clear documentary trail, INEC has now taken the position that it will no longer receive any correspondence from the ADC pending the determination of a matter before the Federal High Court. This is where the contradiction becomes dangerous.

The Electoral Act imposes strict timelines on political parties, including the 21-day notice requirement and submission deadlines. INEC itself has fixed May 10 as the deadline for the submission of relevant documents. However, by refusing to receive communication from the ADC within this same period, the Commission is effectively preventing the Party from complying with the law.

In simple terms, INEC is effectively threatening that unless the courts deliver judgment on the ADC leadership issue by May 10, it will prevent the ADC from producing candidates.

This places the ADC in an impossible position and creates a clear pathway to artificial non-compliance, which can then be used to justify excluding the Party from fielding candidates. That is the landmine.

INEC has claimed that its April 1 decision was taken to avoid rendering the proceedings before the Federal High Court nugatory. The reality is the opposite. By intervening in a matter already before the court and issuing a pronouncement with clear legal and operational consequences, the Commission has itself undermined the very process it claims to protect.

What is even more concerning is that this position contradicts INEC’s own prior conduct and legal stance. The same Commission that monitored, documented, recognized, and swore to an affidavit confirming the ADC leadership is now acting in a way that contradicts its earlier position.
We therefore call on the Commission to immediately reverse this position, resume the acceptance of all lawful correspondence from the ADC, and uphold its constitutional responsibility to ensure a level playing field for all political parties.

We also call on Nigerians to be wary and remain vigilant about these dangerous machinations to subvert Nigeria’s democracy and impose a civilian dictatorship on the country.

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