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Opinion

Way Out Of Economic Meltdown

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For sometime now, one melodious song in the world is the global financial crisis otherwise known as economic meltdown.

So much emphasis has been placed on it that Nigeria has produced so many professors of global financial crisis within the last one year.

One peculiar thing about Nigeria is that whenever there is crisis in country, people tend to take advantage of it to make money. They organise various seminars and conferences and will invite people that matter in the country to make speeches that will be thrown into the thrash can at the end.

Take the Niger Delta issue for instance, we have witnessed countless seminars, summits, workshops on the issue with so many fine speeches and fine talks from people both within and outside the region on the matter, yet the problem has persisted.

And while the people are yet to recover from the war that is going on between restive youths and the Joint Task Force, we are confronted with another monster called economic meltdown.

In the last one year, several workshops, seminars and summits including conferences have been held in the nation with several communiqués, resolutions on the issue of global financial crisis. Yet there is no solution in sight.

The implication of this on our socio-economic development is palpable projects which ought to have been completed in one year to four years, would be carried over.

Salaries and emoluments of Nigerians will not be paid while new jobs will not be created. Even, investment will not be possible, because people will be scared to invest their hard earned money for fear of losses due to the financial crisis.

For any one who cares to know, the so-called economic meltdown came as a result of large scale fraud and corruption which were swept under the carpet for decades until recently when the issue became a source of concern as most corporate institutions became bankrupt in advanced countries, leading to tremendous job losses in these countries.

If not for the reforms which the former President Olusegun Obasanjo carried out in the banking sector which led to the consolidation of banks, our country would have been seriously and adversely impacted by the monster called global financial crisis.

To solve this problem of economic meltdown and to reduce its impact on the economy, the Nigerian government should step up measures that will protect our banks from collapsing. Banks should avoid practices that will only benefit few to the detriment of the economy. The reports that most banks are lending to some states and local governments beyond their capital base is unhealthy and dangerous.

Also, there should be deliberate effort to invest in agriculture which can in turn give birth to agro-allied industries and also create jobs for the people. For example oil palm seedlings can produce palm oil which can be used to produce soap and other items, just as oranges and pineapple can be used to produce juice and save the country from amount expended on importation. It is obvious that agriculture has a very big potential for economic revival. Let us invest in it.

If Nigeria continues with this practice of sitting down idle, waiting for oil monies to be shared among the three tiers of government, before they could build roads, pay salaries of workers and equip the police and the army to fight crime, then one day, we shall wake up to find out that it is too late for us.

Already, there are reports that several countries have started producing electric cars and are looking for alternative sources of energy to power their homes, industries and cities. This means as time goes on, oil will one day dry up and Nigeria would be left stranded. God forbid!

As for the youths in Niger Delta, they should drop gun and embrace education, for education is the key to escape ignorance, failure, servitude and frustration.

Asemebo wrote in from Port Harcourt.

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Opinion

 Electoral Bill: Why Buhari Withheld Assent

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On 21st December, 2021, President Muhammadu Buhari alarmingly declined assent to the long-awaited Electoral Act Amendment Bill through a letter to the President of the Senate, Dr Ahmad Lawan, and Speaker of the House of Representatives, Femi Gbajabiamila. From the tone of the memo, Buhari exuberantly, largely aligned with the Act amendments except the clauses that provided for mandatory direct primaries for all political parties.
Discernibly, the president amid the rebuff acknowledged the energies, nonetheless urged the lawmakers to review the objected clauses, and also requested it be transmitted back for his assent after review. Least expected, Buhari’s major critic, Dr Samuel Ortom, Benue State governor, overtly backed the president’s decline of assent over the direct primaries.
Irrepressibly, the president’s action has continued to generate controversies in the polity with the civil society organizations (CSOs) threatening fire and brimstone and many public commentators seething over perceived mischief and insensitivity. On the whole, three categories of thoughts exist.
Whilst one backs the president against mandatory direct primaries, the second group; mostly from opposition parties, endorsed it. Then, the third category which includes Chief Nyesom Wike, Rivers State governor, admitted the flaws but argued that the assent ought to have been given, notwithstanding the defects, for a review later as Buhari handled the Petroleum Industry Bill (now PIA).
This idea isn’t bad. However, the big question is; what will be the fate if after giving assent, the anticipated review hits the brick wall? It must be carefully noted that the Electoral Act, if flawed, can set the polity ablaze unlike the PIB due to vast interests.
In the legislative zone, the experience is not different. While some accepted the development in good faith and progressively prepared for a critical review, the other side seemingly insisted on a supremacy battle to override the president’s veto. However, the leadership of the two chambers so far, astutely arrested the situation, and opted for wider consultations. Be that as it may, Section 59(4) of the 1999 Constitution, Federal Republic of Nigeria as amended provides a window to override the president by the National Assembly where he withholds assent to a bill presented to him after 30 days.
Buhari’s divergence is the clause for mandatory direct primaries for political parties citing the financial implications on the Independent National Electoral Commission (INEC) to monitor primary elections across all the wards. There are 8,809 wards in the federation. Buhari also argued that political parties must be given a free hand to determine how to elect their flagbearers within their strength, and also, that security factor must be put into consideration underlining that security agencies could be overstretched in ensuring hitch-free primaries which may overheat the polity.
Ostensibly, many frowned at Buhari’s objection — having vetoed the Bill earlier in 2018 ahead of the 2019 General Elections principally on grounds of wrong timing. In fact, a lawmaker while reacting on Channels Television fumed that a bill, overwhelmingly passed by the two chambers after legislative processes which he participated in was ‘insensitively’ rejected by the president; just one man. Logically, his concern was an ego thing, widely far from objectivity. Incidentally, that’s the rule of the game – democracy.
Besides, the oversight of the lawmakers is glaring as the reasons adduced by the president against adopting mandatory direct primary are compelling.
Possibly, the lawmakers didn’t look at it broadmindedly. For instance, if signed into law, it will require INEC to seek a larger budget on logistics and allowances to monitor primary elections across the 8,809 wards in the country for each political party to validly choose a presidential candidate. Let’s say 20 political parties plan to field presidential candidates respectively, it will require INEC’s workforce to go round all the wards for each of the registered political parties to ably elect a valid candidate which has a heavy financial implication. To conduct the 2023 General Elections alone, INEC demands a whopping N305 billion from the treasury.
Sensibly, for INEC to monitor the primaries of all the political parties across all the wards in the country, the task could push the commission’s budget up to many trillions of naira. Then, where there are security challenges that discourage public gatherings, people must notwithstanding embrace direct primaries at the risk of their lives or end up in an inconclusive primary election. In other words, failure to conduct direct primaries across all the wards may deny a political party an opportunity to field a valid candidate in any election.
Deductively, these arguments strongly suggest that mandatory direct primaries could spontaneously force smaller political parties into extinction due to financial constraints and also create unmanageable logistics and security crises.
Another strong fear is beating the time frame for primaries by political parties. As known, primary elections follow INEC’s timetable, and it is rare to find any political party that produced its candidate without internal squabbles which, most times, resulted in late primary election leaving members to resort to any possible means; direct, indirect or consensus to be able to field a candidate within time. If the law should exclusively endorse mandatory direct primaries, practically, it will lead to inconclusive primaries in virtually all political parties. Government is a team work and that’s the strong reason laws must pass through the two arms – Executive and Legislature.
In fact, the bureaucracy for INEC to mobilise workforce alone including ad-hoc staff, managerially allocate tasks can frustrate many political parties due to time. It will also put a heavier burden on the Judiciary to entertain frivolous lawsuits from wards where direct primary perchance didn’t hold by circumstances beyond the control of political parties.
Thus, primary elections should logically, remain flexible and at the discretion of political parties. To be emphatic, the financial implications on the treasury, overstretching security agencies, operability to political parties and also, overstraining the Judiciary are cogent reasons to reconsider the Bill in overriding public interest.

By: Carl Umegboro
Umegboro is a public affairs analyst.

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Opinion

Stop This Begging Attitude

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Are Nigerians all turning to beggars? What is going on? At every institution, many public places, you see well-dressed men and women subtly begging for money. I went to a shopping mall for a business transaction recently and at the gate was a well-dressed, cheerful security guard who zealously ushered me into the compound. I wanted to park my car at one end of the compound but he insisted that I should go another direction which truly was more spacious. And in my mind I was like, “what a dutiful staff?”
He was not done yet. As soon as I switched off my car ignition and was about to open the door to come out, he rushed and did it, smiling from one side of his mouth to the other, offering unsolicited information and a guide on my whereabouts in the facility. I sincerely thanked him, hoping all the VIP treatment will not be a subtle way of begging for gratuity.
Behold, I was wrong. As I made to step into the building, he whispered “Madam, no forget the favour way l do you oo”. I had just encountered another corporate beggar. A day before, I had a bitter encounter with one, a pump attendant, at a petrol station who called me names for refusing to part with my hard-earned money. Having enquired about the well-being of my family, admired my car and showered all unasked encomium on me, he expected a monetary appreciation which was not forthcoming and the next thing I heard was “stingy woman”.
They are everywhere. At petrol stations, banks, offices, both public and private hotels, you see a lot of people begging while on duty. At the airport, train station and in practically all-important offices in the country, “anything for the boys, your boys dey loyal oo”, seems to have become part of the official language.
Of course, this shameful attitude did not start today but it has taken a more serious, disturbing dimension in recent times. Many people, particularly the security personnel, front desk officers, customer relations officers have turned their duty posts to begging offices. They would always blame the current economic downturn for their unbecoming attitude which cannot be totally true because, at least, they are working and earning salaries, no matter how little.
What about the millions of people who are jobless and have no means of livelihood? Have they all taken to the streets to beg?
One thinks it is a social malaise which has a lot to do with our ethical values. A lot of people in the country value money and other material things far and above integrity, self-respect and self-dignity. And so, they will do anything, no matter how shameful, to acquire them.
A teacher once made an analogy of two families, one has four members and the other was a family of 11 people. Both families were given N200,000 each to spend for a month. According to her, half way into the month, the family of four almost exhausted their money and could hardly pull through till the end while the other family of nine comfortably made do with the amount they had and even had some balance. What was their secret? Prioritisation and prudent management.
Therefore, it is not so much about how much we make through our salaries, begging and other means but how we manage the money. There is hardly anybody in the country today that is not feeling the economic bite and the only thing that will help everybody both the low- and high-income earners is to set their priorities right and learn how to live within their income instead of hoping on tips from some “big men and women” and doing all kinds of ridiculous things to attract their attention and the crumb. And we forget that the so-called big men most times also have loads of financial responsibilities.
On the national level, we also have to consider the damaging impact of official begging and do something about it. Obviously, taking little tips from people would make officials skimp on their responsibilities, thereby making some unscrupulous elements have their way, exposing the country to avoidable vulnerability.
It is, therefore, imperative we must begin to build a new ethos that places emphasis on self-respect and dignity of labour. As part of the country’s 60th Independence celebration, the National Ethics and Integrity Policy was launched. It contains the nation’s core values of Human Dignity, Voice and Participation, Patriotism, Personal Responsibilities, Integrity, National Unity and Professionalism. All these values and how they will be practised to make for a better country and more cordial relationship among the citizens are thoroughly spelt out.
For instance, section 4.5.2.5, talks about Honour under Integrity states, “We shall at all times maintain uprightness of character, personal integrity and pride in ourselves as individuals, as one community, and as one nation. Therefore, in all spheres of life, we shall do what is demanded by our common values and laws that we hold to be true, in accordance with our national identity and in accordance with the values enshrined in our national laws and practices as one country. As Nigerians, we shall stand up to challenge those vices that impede the pursuit of our existence with uprightness. We shall celebrate those Nigerians who are upright”.
But then the big questions are: how many Nigerians are aware of this policy? What efforts are being made to educate the citizens on these core values? We have the National Orientation Agency, the Ministry of Information at various tiers of government, what are they doing to educate people about this code of conduct so that the people internalise it and make it a true guide for the citizens,
It is not enough that time, energy and resources were spent in packaging the booklet, let adequate sensitisation be carried out, using the media, both conventional and social media and other means of communication to reach to people at every nook and cranny of the country because many Nigerians are losing it when it comes to integrity and the time to get them back on the right track is now.

By: Calista Ezeaku

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Opinion

Shape Of Things To Come

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In monitoring and surveillance activities, there are two abbreviations that are given priority attention, namely: STC and DEWS, which stand for Shape of Things to Come and Distant Early Warning Signs. From aviation, to health and security industries, shape of things to come and distant early warning system are taken seriously, with appropriate precautionary measures sought and put in place immediately such alert features. Whatever may be the nature of issues concerned, various activities and organisations put precautionary measures in place, and people given some orientation on how to respond to alert.
The Tide, Friday, January 7, 2022, Opinion: Page 9, “That Buhari’s Interview”, by Calista Ezeaku, contained more information than an average reader would grasp. A President’s interview with a television house is obviously not a domestic affair, hence there was a detection and comment about “a close-minded approach to serious national issues”. It was not enough also that someone would say: “From the economy, to insecurity, killings of innocent farmers by terrorists … and other sundry issues, President Buhari honoured his calling as a president who has nothing new to offer”.
It is needful to add that the task of managing affairs that affect millions of people demands that when such a manager has nothing new to offer, what would follow should be an honourable resignation from the task. With regards to the tenure and performance of Buhari, distant early warning signals had long been ignored, denied or distorted, such that one man’s interests can override and become more important than those of millions of people who must bear the brunts of political amnesia.
Management failures do not always arise from wrong decisions and policies, but more often from the intrigues and shenanigans hatched and padded into a management system by a cabal or sapiental authority are not answerable to the masses but always cause great harms for which they are rarely held accountable, nor would the big boss have the courage to dismiss or detach himself from such political parasites. The result of this system of political administration is the installation of weak institutions and structures.
This is why a public analyst would observe and say that “all the abuses of powers by the governors are possible because of the flawed electoral system in the country”. From the refusal to allow for a state police as a complement to the federal police, to the lethargy involved in introducing a fraud-free electoral process, there are parallel forces in government that would not allow leakages and flaws in the system to be closed or checked effectively.
When “administrative banditry” becomes institutionalised, the result would be the situation which we experience currently in Nigeria. Since this anomalous situation had been going on, long enough for more and more Nigerians to know the tricks, it would not be hard to predict the nature of mass reaction to the malpractices. Especially when each federating unit which should be independent and able to have state police and manage indigenous resources cannot be allowed to do so, it is easy to see the shape of things to come in the near future.
For the information of obtuse members of the Nigerian ruling elite and the groups or institutions that shield and protect them in their malpractices, there are glaring signals that the Nigerian masses are wiser now. Even if new tricks are introduced to create a semblance of change from the old system, that would not be enough to avert the shape of things to come. There was a distant early warning signal that the movement of cattle and herders Southwards was a ploy to pursue some hidden agenda.
To quote Mrs Ezeaku again: “It is also worrisome that in this age, the president still believes that establishment of grazing routes would solve the persistent problem of farmers-herders clashes in the country”. Rather than admit that there was a definite hostility against farming communities in Southern parts of Nigeria by herdsmen, President Buhari told American audience that the issue was a cultural one, rather than acts of terrorism. Check all the antics and shenanigans, from Ruga to the quest for allocation of land and huge donations to patrons of cattle business in Nigeria by the federal government, it is easy for anyone to see and read the “handwriting on the wall”.
To have a mindset that all Nigerians can be fooled and bamboozled all the time, would be to cultivate “a close-minded approach to serious national issues. The worsening state of insecurity in Nigeria requires a more broad-minded approach to address the challenge. Not a few Nigerians suspect a possible re-enactment of the Afghan/Taliban experience in Nigeria, whereby a section of our security forces can be described as complicit. General T. Y. Danjuma raised such alarm long ago.
Recently, a Nigerian professor was quoted as picking holes with the observance of New Year on the ground that it is associated with Christian calendar. The idea is that since Islam has a different calendar and new year, the Julian Calendar introduced in 46 B.C. by Julius Caesar, with 365 days in the year, should cease to be. The other alternative would be to recognise and observe the Islamic calendar alongside. Already, there is a similar move to make Friday a work-free day, like Sunday.
There are a few zealots and fanatics carrying these issues too far, to the extent of sponsoring terrorism as an act of proselytism, with recognition and implementation of Sharia law as a mission. This is where the influence of the Organisation of Islamic Conference (OIC) needs to be examined, to ensure that democracy and secularism are not placed in jeopardy.
There are glaring pitfalls which Nigeria must strive to avoid, if the nation must survive current challenges. There is a need to re-organise the security and intelligence organs of the nation, revisit the issue of the true federalism and ensure that no ethnic group or power bloc boasts of being Born to Rule. There is more to the glib talks about corruption than what we put emphasis on. To allow current imbalances and inequities to continue would be chaotic!

By: Bright Amirize

Dr Amirize is a retired lecturer from the Rivers State University, Port Harcourt.

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