Opinion
The Privatisation Debate
The ugly revelations at the senate committee set up in July 2011 to investigate the failed privatisation exercise embarked by the Bureau of Public Enterprise (BPE) have thrown up, once again, the debate on the privatisation and commercialisation programmes and policies of the federal government over the years.
The country has continued to lose colossal sums of money and resources in the name of privatisation of public enterprises. According to media reports, the BPE’S Director General, Bolanle Onoagoruwa, disclosed to the senate Committee that the Aluminium Smelter Company of Nigeria (ALSCON), Ikot Abasi, Akwa Ibom State built at the cost of $3.2bn was sold to Russel, a Russian-based company for $139million. A similar story goes for Daily Times, Delta Steel Company in Delta State, and Eleme Petro – Chemical in Rivers State sold to Folio Communications, Global Infrastructure, and Indorama respectively at paltry sums in comparison with the nation’s huge investments in them.
In the same vein many Nigerians felt that the sale of the Kaduna and Port Harcourt refineries in 2007 to Bluestar Oil Services Ltd, a consortium that comprised the Dagote Group, Zenon Oil, and Transnational Co-operation was under – valued and not transparent. Thus the consortium’s withdrawal from the deal and its (the deal) revocation by the late President Umaru Musa Yar’Adua’s administration were greeted with jubilation across the country. The late President Yar’Adua’s action was seen as a clear demonstration of his respect for public opinion and strict adherence to due process.
But why did, successive administrations in Nigeria embrace privatisation as a sure and direct route to economic progress. From the early 1980s the country began to experience serious balance of payments and debt crisis and huge budget deficits resulting from the collapse of oil prices and the consequent contraction in the foreign exchange earnings. During the period, the country also faced a surge in imports arising from an over-valued naira. Before the oil price collapsed, the enormous windfall accruing from oil revenue impelled the government to assume a greater role in the economic life of the country.
Thus as at 1986 there were about 6,000 public enterprises in Nigeria controlled by the Federal Government in which it had an investment of over N36 billion as equity, loans and grants/subventions.
Besides, these public enterprises with over 5,000 appointments into their managements and boards enjoyed transfers in form of subsidised foreign exchange, import duty waivers, tax exemptions and/or write-off of arrears, and unremitted revenues. And the various state governments also owned and controlled many public enterprises in which they invested billions of naira.
Sadly, the federal government realized less than N500 million annually from its huge investment and had to worry about the interest and principal repayments on the burdensome loans of these enterprises. Consequently, and as a condition for IMF and the World Bank’s support for President Ibrahim Babagida’s Structural Adjustment Programme (SAP), the Federal Government decided to commercialise fully or partially some of its investments, fully privatised some others and terminate support for those which would be partially privatised.
Though the debate over privatisation as an instrument for national economic management has been raging among economies and across many countries for several decades, in Nigeria, the first categorical official statement of intent on privatisation was therefore that made by President Ibrahim Badangida in his January 1986 budget speech.
Privatisation is a complex issue. Frankly, it is a two-edged sword. It can make a country great. It can also destroy a country. Why? Because if not well conceived and handled, it can give rise to social, economic, and political turmoil.
Privatisation is a subject over which people tend to take extreme ideological positions. In Nigeria, while some people see the country’s privatiosation as a policy designed to correct distortions arising from past poor public investment decisions, others perceive it as a deliberate and conscious attempt by the power elite to appropriate the national wealth to the detriment of the working people.
Public outburst against the sale of public enterprises and other national assets to few individuals rests on a number of fundamental economic, social, political, and institutional arguments. The arguments are complex but they are not new. Going into the arguments fully will take us beyond the concerns of this piece. But essentially they revolve around the issues of economic efficiency, equity, and ideology. Several studies carried out by scholars including Spann and Christenaan who compared the operations of voluntary, public, and profit making hospitals in the US and private and public railroads companies in Canada respectively found no significant difference between private and public provisions.
The inefficiency associated with public provision in Nigeria is due to downright “thievery” and indiscipline which are more pronounced in our public organizations than the private sector.
Considering the country’s low level of development and the imperfections both of structure and operation, government intervention is required to influence the distribution of wealth in a desired fashion. This is because private provision may not only be inequitable but may also be subject to economic inefficiencies.
The ideological arguments revolve around the perception that collective provision and finance cater for communal, rather than, self interest. Such communal provision reflects more correctly the pattern in our traditional societies before they were corrupted by western notions of private interests.
Therefore, even if we have committed ourselves to privatisation, it is imperative to openly discuss and come to terms with its overall philosophy and political economy, realizing that the exercise involves loss of jobs, greater distributional inequality, vesting the national assets in the hands of a few individuals and so on.
Opinion
Restoring Order, Delivering Good Governance
The political atmosphere in Rivers State has been anything but calm in 2025. Yet, a rare moment of unity was witnessed on Saturday, June 28, when Governor Siminalayi Fubara and Minister of the Federal Capital Territory, Chief Nyesom Wike, appeared side by side at the funeral of Elder Temple Omezurike Onuoha, Wike’s late uncle. What could have passed for a routine condolence visit evolved into a significant political statement—a symbolic show of reconciliation in a state bruised by deep political strife.
The funeral, attended by dignitaries from across the nation, was more than a moment of shared grief. It became the public reflection of a private peace accord reached earlier at the Presidential Villa in Abuja. There, President Bola Ahmed Tinubu brought together Governor Fubara, Minister Wike, the suspended Speaker of the Rivers State House of Assembly, Martin Amaewhule, and other lawmakers to chart a new path forward.
For Rivers people, that truce is a beacon of hope. But they are not content with photo opportunities and promises. What they demand now is the immediate lifting of the state of emergency declared in March 2025, and the unconditional reinstatement of Governor Fubara, Deputy Governor Dr. Ngozi Odu, and all suspended lawmakers. They insist on the restoration of their democratic mandate.
President Tinubu’s decision to suspend the entire structure of Rivers State’s elected leadership and appoint a sole administrator was a drastic response to a deepening political crisis. While it may have prevented a complete breakdown in governance, it also robbed the people of their voice. That silence must now end.
The administrator, retired naval chief Ibok-Ette Ibas, has managed a caretaker role. But Rivers State cannot thrive under unelected stewardship. Democracy must return—not partially, not symbolically, but fully. President Tinubu has to ensure that the people’s will, expressed through the ballot, is restored in word and deed.
Governor Fubara, who will complete his six-month suspension by September, was elected to serve the people of Rivers, not to be sidelined by political intrigues. His return should not be ceremonial. It should come with the full powers and authority vested in him by the constitution and the mandate of Rivers citizens.
The people’s frustration is understandable. At the heart of the political crisis was a power tussle between loyalists of Fubara and those of Wike. Institutions, particularly the State House of Assembly, became battlegrounds. Attempts were made to impeach Fubara. The situation deteriorated into a full-blown crisis, and governance was nearly brought to its knees.
But the tide must now turn. With the Senate’s approval of a record ?1.485 trillion budget for Rivers State for 2025, a new opportunity has emerged. This budget is not just a fiscal document—it is a blueprint for transformation, allocating ?1.077 trillion for capital projects alone. Yet, without the governor’s reinstatement, its execution remains in doubt.
It is Governor Fubara, and only him, who possesses the people’s mandate to execute this ambitious budget. It is time for him to return to duty with vigor, responsibility, and a renewed sense of urgency. The people expect delivery—on roads, hospitals, schools, and job creation.
Rivers civil servants, recovering from neglect and under appreciation, should also continue to be a top priority. Fubara should continue to ensure timely payment of salaries, address pension issues, and create a more effective, motivated public workforce. This is how governance becomes real in people’s lives.
The “Rivers First” mantra with which Fubara campaigned is now being tested. That slogan should become policy. It must inform every appointment, every contract, every budget decision, and every reform. It must reflect the needs and aspirations of the ordinary Rivers person—not political patrons or vested interests.
Beyond infrastructure and administration, political healing is essential. Governor Fubara and Minister Wike must go beyond temporary peace. They should actively unite their camps and followers to form one strong political family. The future of Rivers cannot be built on division.
Political appointments, both at the Federal and State levels, must reflect a spirit of fairness, tolerance, and inclusivity. The days of political vendettas and exclusive lists must end. Every ethnic group, every gender, and every generation must feel included in the new Rivers project.
Rivers is too diverse to be governed by one faction. Lasting peace can only be built on concessions, maturity, and equity. The people are watching to see if the peace deal will lead to deeper understanding or simply paper over cracks in an already fragile political arrangement.
Wike, now a national figure as Minister of the FCT, has a responsibility to rise above the local fray and support the development of Rivers State. His influence should bring federal attention and investment to the state, not political interference or division.
Likewise, Fubara should lead with restraint, humility, and a focus on service delivery. His return should not be marked by revenge or political purges but by inclusive leadership that welcomes even former adversaries into the process of rebuilding the state.
“The people are no longer interested in power struggles. They want light in their streets, drugs in their hospitals, teachers in their classrooms, and jobs for their children. The politics of ego and entitlement have to give way to governance with purpose.
The appearance of both leaders at the funeral was a glimpse of what unity could look like. That moment should now evolve into a movement-one that prioritizes Rivers State over every personal ambition. Let it be the beginning of true reconciliation and progress.
As September draws near, the Federal government should act decisively to end the state of emergency and reinstate all suspended officials. Rivers State must return to constitutional order and normal democratic processes. This is the minimum requirement of good governance.
The crisis in Rivers has dragged on for too long. The truce is a step forward, but much more is needed. Reinstating Governor Fubara, implementing the ?1.485 trillion budget, and uniting political factions are now the urgent tasks ahead. Rivers people have suffered enough. It is time to restore leadership, rebuild trust, and finally put Rivers first.
By: Amieyeofori Ibim
Amieyeofori Ibim is former Editor of The Tide Newspapers, political analyst and public affairs commentator
Opinion
Checking Herdsmen Rampage
Do the Fulani herdsmen have an expansionists agenda, like their progenitor, Uthman Dan Fodio? Why are they everywhere even the remotest part of other areas in Nigeria harassing, maiming, raping and killing the owners of the land?”
In a swift reaction, The Movement for the Survival of the Ogoni People (MOSOP) decried and strongly condemned the invasion by suspected Fulani herdsmen.
In his denunciation, MOSOP President Fegalo Nsuke described the incident as very unfortunate and deeply troubling, warning against a recurrence of the violence experienced in Benue State. “The killing of yesterday is bad and very unfortunate. We are getting preliminary information about how the herders gained access to the farmland, and it appears some hoodlums may be collecting money and granting access illegally.”
He called on the Hausa community in Rivers State to intervene swiftly to prevent further attacks.
“We want the Hausa community in Rivers State to take urgent action to ensure these issues are resolved”.
But will such appeal and requests end the violent disposition of the Fulani herdsmen? It is not saying something new that the escalating threat and breach of peace across the country by the Fulani herdsmen or those suspected to be Fulani herdsmen, leaves much to be desired in a country that is bedevilled by multi-dimensional challenges and hydra-headed problems.
Some upland Local Government Areas of Rivers State, such as Etche, Omuma, Emohua, Ikwerre, Oyigbo, Abua, Ogba/Egbema/Ndoni, have severally recounted their ordeals, as herdsmen invaded farmlands, destroyed crops, raped female farmers and killed protestant residents.
Again the wanton destruction of lives and properties which no doubt has overwhelmed the Nigerian Police, makes the clamour for State Police, indispensable. The National Assembly should consider the amendment of the Constitution to allow States to have their Statutory policing agencies.
Opinion
Is Nigeria Democratic Nation?
As insurgency has risen to an all time high in the country were killings has now grown to be a normal daily activity in some part of the nation it may not be safe to say that Nigeria still practices democracy.
Several massacres coming from the Boko Haram and the herdsmen amongst all other insurgencies which have led to the destruction of homes and killing, burning of communities especially in the northern part of the country. All these put together are result of the ethnic battles that are fought between the tribes of Nigeria and this can be witnessed in Benue State where herders and farmers have been in constant clashes for ages. They have experienced nothing but casualties and unrest.
In the month of June 13-14, the Yelwata attack at the Guma Local Government Area by suspected gunmen or herdsmen who stormed the houses of innocent IDPs (Internally Displaced Persons) claiming the lives of families, both adults and children estimated to be 200 victims. They were all burnt alive by these unknown gunmen.
This has been recorded as one of the deadliest insurgencies that had happened in recent years. Some security personnel that were trying to fight the unknown gunmen also lost their lives.
Prior to the Yelewata attack, two days before the happening, similar conflict took place in Makurdi on June 11, 2025. 25 people were killed in the State. Even in Plateau State and the Southern Kaduna an attack also took place in the month of June.
All other states that make up the Middle Belt have been experiencing the farmers/herders clash for years now and it has persisted up till recent times, claiming lives of families and children, homes and lands, escalating in 2025 with coordinated assaults.
Various authorities and other villagers who fled for safety also blamed the herdsmen in the State for the attack that happened in Yelwata community.
Ehebha God’stime is an Intern with The Tide.
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