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Open Letter To Goodluck Jonathan (I)

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I admire and salute your courage to withstand the
mounting pressure on you for some time now to declare stand on the forthcoming 2015 general elections. By this impassive act you’ve proved to political sycophants that you are no push-over and of no simple estimation. You’ve rendered their insidious political permutations redundant and places same in abeyance. Let me also appreciate your sincere intention to render governance delivery to Nigerians who voted you into office in 2011 with great enthusiasm and expectations.
I also hope that you would welcome and appreciate a sincere and frank expression of mind, and a conveyance of the total mind of common Nigerians on your administration. Your Excellency Sir, common Nigerians here refer to the majority group of Nigerians that depends totally on public facilities for their entire welfare and whose powers form the authority class but usually find themselves in constant frustration and lamentation of dashed hopes and expectations of good welfare in the face of hyper affluence of the authority class from the corporate wealth of the nation, the real voting class in elections, the real power owners but the perpetual suffering group.
Since your position is one of intense pressure there is every tendency that a lot of salient issues, beyond sycophancy, may elude your imperative attention and you might wish that some one had drawn your attention to them. It is borne out of this consideration that this humble letter is written.
Yes your Excellency Sir, your silence so far on 2015 gives the impression that you are seriously bearing your mind on a lot of national issues and measuring your journey so far regarding the axiom that “one good turn deserves another”. So before you speak on 2015, I would like you to note the fact that in 2011, you were the next political figure after late Moshood Kasimowo Abiola, popularly called MKO, of cherished memory, to occupy the enthusiastic hearts of Nigerians who clearly demonstrated same in a massive turn-out in the elections.
Both of you are the political figures in Nigeria so far that Nigerians ever believed, trusted and strongly, anchored upon their corporate hope and expectations.
If you recall the spirit of Nigerians in 2011 national voters registration exercise and the subsequent general elections that brought you to power again, you would be restless in Aso Rock as to how to very satisfactorily serve Nigerians in adequate appreciation of this corporate faith, confidence and trust so enthusiastically demonstrated in a political leader in this country. The turn-out for that national voters registration exercise was massive and impressive. Massive because those who confessed that they had never before registered and voted, or had in many years not participated in the exercises, turned up. Impressive because never in the history of Nigeria’s national exercise had Nigerians exhibited such sincere spirit of patriotism and cooperation.
Recall also how the common Nigerians voluntarily carted with joy their generating sets, tables, chairs etc, to the voters registration centres and spiritedly battled to forestall the threatening failure of the exercise by the Direct Data Capture (DDC) machines that refused to function properly at the commencement of the exercise, by providing mythelated spirits, cotton wool, water, detergents, etc, to clean fingers to aid easy capture. Your Excellency Sir, all this was done because of your individual person.
In my Jonathan’s Presidential Candidacy Reawakens National Patriotism published in the National Point Newspaper of March 21, 2011, p20, I presented a graphic picture of this unique spirit of commitment of Nigerians in a national exercise, of an old woman at one of the registration centres in Port Harcourt, who bluntly refused to live her seat for another person after the data capture machine consecutively failed to capture her finger prints.
Considering the passionate plea to her by the registration officers to stay aside a while for another person as a plot to rig Jonathan out of the election said, in vehement reaction, “Una no want mek I vote Jonathan wey God bring mek im come helep poor people?”. She later felt comfortable and left the seat after being well convinced that the exercise wasn’t Jonathan’s election proper yet to come.
Again, recall the common Nigerians unique spirit of commitment on the day of the presidential election. As early as 7am they had all formed up at their different registration centres and would not live until after the counting of votes, Jonathan was rigged out.
This was a unique corporate resolve to ensure that all was well for your person in that election. This was also a unique corporate demonstration of faith, trust and confidence in a political leader.
Your Excellency Sir, in 2011, you were the most appreciated president ever in re-election exercise in this country. The common Nigerians hoped and trusted that the elusive governance delivery of age-long would finally come to pass in your continued administration since the then just ended two years of completing late President Yar’ Adua’s tenure was considered not long enough for obvious achievements in your short leadership.
The tempo and euphoria of your Excellency’s re-election soared higher and higher as the hope and expectations of the arrival of the common Nigerians era kindled through out 2011. But while the manifestation of this dream was faithfully awaited, you dashed this nascent hope, faith and trust in a public leader by thanking common Nigerians for your re-election in your removal of fuel subsidy on  1st January, 2012 against all popular voices.
Ukutumoren, a public affairs analyst, writes from Port Harcourt.

Open Letter To Goodluck Jonathan (II)
Ukutumoren E. Ukutumoren
In reaction to Nigerians cries and lamentations on this, you haphazardly rolled out vehicles on public display for distribution to states nationwide, to cushion the effect of the subsidy removal. These vehicles soon disappeared from sight before states could receive them. Since then, the common Nigerians had been greatly hit by increasing high cost of living occasioned by this fuel subsidy removal. As if that was not enough, you soon against increased the electricity tariff in the country against all popular voices who cautioned that if the power tariff increase was at all necessary that should be only after the hitherto dismal power supply situation had improved and after the prepaid meters had been available to every household in the country.
Again you promptly assured Nigerians that the prepaid meters had already arrived the country and soon every household would have them.
So before you speak on 2015, your Excellency Sir, know that up till the moment of this letter, common Nigerians are continually sending save our souls (sos) message cries to who cares, about the gross and constant exploitations by power operators nationwide through incredible, unjustified and fraudulent electricity bills in the face of dismal services and their cries for prepaid meters, which you had promised, are yet to reach you.
In January 2012 during Nigerians stiff reaction to your removal of fuel subsidy you commented that the strong reaction of Nigerians to that policy was due to the fact that previous governments had deceived them. That sincerely, the subsidy gained would be used to repair the existing refmeries to full capacity utilization and new ones built to end fuel importation. Through this you would, amongst other things, build and equip new hospitals, thus creating business and employment opportunities and also improve health care delivery. Your Excellency Sir, before you speak, please note that common Nigerians are still expectant of these and are asking and would continue to ask about the states of the old refmeries and the number of new ones built and why Nigeria is still importing fuel, and unemployment level. Imagine also the fate of these Nigerians to learn that you would rather want to sell out the said refmeries whose fate brought them the present excruciating suffering. This constitutes nothing other than a grand deceit by a leadership.
Corruption has been identified as the bane of Nigeria’s corporate progress. You appreciated this fact and promised to fight it to at least the barest minimum. Common Nigerians so believed you. Unfortunately, your action in this direction is nothing to write home about and your administration is widely seen as the worst in corruption with the dangling rope of the EFCC fmding the necks of some of your indicted ministers.
This national cankerworm pervades all nooks and cranies of the country. Private sectors not excluded. Product manufacturers flood the markets with inferior products. Product containers and sachets contain increasingly lesser quantities of core products and weights against the declared specifications.
The church leaders become insidious champions, wining ‘medals’ in immorality, dubiousness, marriage breakings, family disunity and psychic manipulations. All this unabated. Before you speak, Your Excellency, note that common Nigerians feel so disappointed in your corruption fight and very uncomfortable with the frequent news of missing billions of dollars from the federation account in your administration; and the whole dwindling state of values in the country.
You also promised a functional power supply and they strongly believed you but up to this moment the state of power supply nationwide is no far departure from the immediate dismal past and is characterised by outrageous and fictitious charges that prompt the current save our souls (SOS) message cries nationwide from consumers and the end is not in sight.
Nigeria is the richest nation in West Africa or Africa and has spent so much trillions of Naira on fruitless power supply over the decades. Common Nigerians are no longer happy with the present state of power supply and see no reason why Nigeria after spending so much could not have functional power by now.
You further promised common Nigerians affordable housing as cost of cement would not exceed one thousand naira (1,000.00) in your tenure. But today only the authority class can afford the cost of building materials in the country.
The basic expectations of the masses from any leadership are safety of live and property, good roads, electricity, supply portable water, and health care! These still remain grossly elusive to them. But the degree of loss of lives and properties coupled with the colossal trillions of naira expended so far on the current insecurity challenges, to no abate, is unprecedented in the history of democratic leadership of this country and the common igerians are very uncomfortable with the inability of the leadership to contain the situation due to delayed and inadequate action.
So before you speak: on 2015, your Excellency Sir, please note that the afore stated are the agitating issues in the core minds .of common Nigerians and do not constitute a condusive atmosphere for the breath of fresh air which you promised them in 2011. They are more uncomfortable also when they count that by 2015 you would have spent six (6) and eight (8) years consecutively in the Executive Presidency of this nation and all they have is explanatory achievements for this long Executive Presidential tenancy. In fact, the enthusiasm that greeted your presidential candidacy and election in 2011 has really gone.
Finally, Your Excellency, you acknowledged the fact that you are the most criticized and condemned democratic president so far in this country. This is very true Sir. But your reaction that you would be the most praised and appreciated president at the end of tenure in 2015 rekindled the hope and expectations of common Nigerians. Your Excellency Sir, I believe you could be if only you can successfully midwife the National Conference by
subjecting its report to a referendum, and give Nigerians the age-long elusive Funtional Power Supply.
Ukutumoren, a publisc affairs analyst, writes from Port Harcourt.

 

Ukutumoren E. Ukutumoren

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A Renewing Optimism For Naira

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Quote:”……in 2024 alone, Nigeria imported N14.14 trillion worth of goods from China, compared to China’s N3 trillion imports from Nigeria.”
Nigeria’s national currency, the Naira, is creating a new buzz as it sets on rising trends following years of astronomical slides in the recent past. Just within a few months ago, naira’s trajectory charted almost a straight course, strengthening from N1,636.71/$ on April 10, 2025, to N1,465.68/$ on October 2, 2025. But financial analysts appear divided over the future fate of the local legal tender.While analysts like the Forbes and Renaissance Capital Africa (RENCAP) deride naira’s current trends as being unsustainable, Bloomberg sees a sunnier side. However, evolving economic landscapes strongly suggest that the naira might be charting a sustainable path of resilience. For more than four decades, the naira had never experienced favourable Foreign Exchange (FX) tussles.
Suffering under skewed supply and demand tensions against foreign currencies, the value of the naira had procedurally depreciated. It got worse when, at the height of subsidized petroleum products import-dependence, subsidies got suddenly withdrawn in May 2023 as the present government took over office. Barring local production of the products, coupled with poor export earnings, demands for scarce foreign currencies surged at all FX windows as product importers competed to make overseas payments. The result was cataclysmic. The naira depreciated rapidly against the dollar, falling from N460.7/$ in May 2023 to N1,706/$ in 2024. Hardships propagated across the entire Nigerian economy in ripples of hyper-inflation as is still being felt. The initial response from the Central Bank of Nigeria (CBN) was knee-jerk and unsustainable, as the regulator kept throwing its store of foreign reserve into FX markets to quench the ensuing inferno.
 Though the naira showed buoyancy at the expense of depleting reserves, the CBN was criticized against the hopelessness and unsustainability of such artificial floats. Thankfully for the local currency, after months of fire-fighting, the CBN, aided by other lucky developments, may have stumbled unto some formulae to weather the storms. Emerging econometrics now suggest that the economy may be in recovery, and the naira appears to be charting a more optimistic course, even as the apex bank still prods it. The lower oil production data of around one million barrels per day as at May 2023, has improved to around 1.51 million barrels per day at the moment. Surely, the fight against oil thefts is rewarding the economy with surpluses unencumbered by Nigeria’s debt-mortgaged oil futures.bSecondly, a changed petroleum products sourcing landscape, berthed by new-found local refining capacity at Dangote Refinery, if not strengthening the naira, must be tipping the balance of FX pressures in its favour.
While asserting its ability to fully satisfy local demands, the Dangote Refinery also hit a remarkable milestone when it shipped its first cargo of gasoline to the United States of America last month, drawing-in huge FX. Earlier, the refiners had shipped to Asia and West Africa, in a significant shift that has transited Nigeria from being a net-importer of petroleum product, to a net-exporter. Also, improvements in the non-oil exports are increasing the inflow of foreign currencies to Nigeria. Nigerian cocoa and other agro-products especially, got higher demands as crop diseases resulted in poor crop yields in neighboring West African countries. It should be noteworthy that CBN’s experiments with Naira-Yuan trade swaps with China may not have been of much favour. Though on-going trade swap arrangements between Nigerian and China which enable some settlement in naira and yuan, may ease dollar pressures, the huge trade imbalance between Nigeria and China may replace any gains with new yuan pressures.
 According to the National Bureau of Statistics, in 2024 alone, Nigeria imported N14.14 trillion worth of goods from China, compared to China’s N3 trillion imports from Nigeria.
However, the CBN could be given credits for its bold reforms at the Foreign Exchange market that created a single Nigerian Foreign Exchange Market (NFEM) in October 2023, which replaced the former Investors’ and Exporters’ window, and later adopting the Electronic Foreign Exchange Matching System (EFEMS) in December 2024. These steps successfully narrowed the gap between official FX rates and the black market. Even as the measures may not directly detect the balance of currency demands and supplies, improved transparency and liquidity raised confidence that is boosting foreign remittances via official channels. Added to improved exports, it is evident that the extra liquidity gives spontaneous buoyancy to the naira, in ways CBN’s panicked throwing-in of dollar into FX markets could not have.
This is why, when the CBN Governor, Olayemi Cardoso, announced during the 302nd monetary policy committee meeting that, “The second quarter 2025 current account balance recorded a significant surplus of $5.28 billion compared with $2.85 billion in first quarter of 2025,” there is need for him to identify significant drivers. The CBN deserves commendation also, for incrementally growing Nigeria’s Foreign Reserve savings from $34.39 billion as at May, 2023 to $42.40 as at October 2, 2025. The strength of a nation’s reserves reflects its ability to meet international payment obligations without straining the stability of its legal tender, and also serves as part of risk assessment criteria that determines its borrowing costs. Increasing reserves is projecting greater external resilience for Nigeria, which reflects in Moody’s upgrading, this year, of Nigeria’s rating from ‘Caa1’ to ‘B3.’
With renewed investor confidence, foreign investments may be heading towards Nigeria as ripples from the Nigerian Stock Exchange (NGX) suggest. Following recent interest rate cuts in the US, foreign investors appear to be shifting appetites towards Nigerian portfolios. Improved reserve is also helping Nigeria at the Eurobond market, where the yield rates Nigeria pays on its loans, have fallen from above 8 percent in early 2024 to just over 5 percent by mid-2025. However, even as the N1,706/$ exchange rate of last year, compared to the current N1,465.68/$, may seem cheery, it is still a far cry from the N460.7/$ of May 2023, when this administration took over. Government and the CBN need to push further to shore-up greater reserves, and to build local and international assurances that attract job-creating investments for local production. Comparatively among its pairs, South Africa’s reserve is $70.42 billion, Algeria’s, $64.574 billion and Egypt’s, $49.04 billion.
Nigeria, which is being projected for a $1 trillion economy by 2050, should be focusing on $100 billion external reserves. Apart from reserves, Dangote local refining shows that local production is pivotal to the value of local currencies. Nigeria needs to improve security and infrastructure to reassure subsisting industries, and improve ease of doing business, in order to attract industries. Though Naira’s path of recovery this time is sustainable, the factors that aid it need to be sustained.
By: Joseph Nwankwor
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Opinion

Don’t Kill Tam David-West

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Quote:”To erase Tam David-West Boulevard is to tell a dangerous lie about who we are. It is to pretend that we no longer remember honour, that we no longer care about the rare men who made Rivers State proud.”
There are names that do not fade with time — they endure like echoes in the hills of memory, like rivers that never dry. Tamunoemi Sokari David-West is one such name. To attempt to erase it from the map of Rivers State is to wound the spirit of remembrance itself. The deliberate removal of the steel signs that once declared Tam David-West Boulevard is no mere act of neglect — it is a betrayal of history, an unspoken attempt to silence a voice that still teaches us what integrity means. For Tam David-West was not just a man; he was a moral compass in flesh and bone. His life was a lantern held high in a country struggling to see itself clearly. From the quiet sanctums of the University of Ibadan to the volatile chambers of power in Lagos and Abuja, he walked unbent — the scholar who would not sell truth, the minister who would not mortgage his soul. To erase his name from a road in the land of his birth is to declare that virtue is no longer welcome here.
That road — the grand link between NTA road and the Port Harcourt International Airport — was named after him for a reason. It symbolized movement, progress, and passage. Tam David-West was himself a bridge: between science and service, intellect and honesty, courage and humility. To strike out that name is to tear down the bridge between our noble past and the moral future we still hope to build. When Nigeria’s oil wealth became the golden snare that trapped men’s conscience, Tam David-West stood apart. As Minister of Petroleum, he refused the seductive gifts of oil magnates; he declined privileges that came wrapped in corruption. He wore simplicity like a medal, and truth like a robe. In an age of thieves, he remained a teacher. In a field of compromises, he remained whole. Shall we now bury that lesson beneath the dust of forgetfulness? A city tells its story through its street names.
 Names are not just labels — they are memory made visible, value made public. To erase Tam David-West Boulevard is to tell a dangerous lie about who we are. It is to pretend that we no longer remember honour, that we no longer care about the rare men who made Rivers State proud. History does not forgive such silences. This quiet removal of his name is not accidental. It is the work of small minds afraid of great examples. It is an unholy attempt to kill memory because it still condemns mediocrity. But let them know — Tam David-West cannot be erased. His truth was not written on road signs alone; it is engraved on the conscience of all who ever believed that public service could be clean.He was a son of Buguma, a prince of the Kalabari Kingdom, yet he carried his royalty lightly. His true crown was knowledge; his true sceptre was conviction. As a virologist, he studied the world of unseen forces; as a statesman, he confronted the visible viruses of greed and hypocrisy.
 Even when power imprisoned him, it could not diminish him. He emerged, as always, with his dignity intact.This fight is not for a signboard. It is for remembrance — for the preservation of a moral landmark. When a people begin to uproot the monuments of their best men, they invite darkness upon their future. When we forget Tam David-West, we lose not only a name but a mirror: the reflection of what Rivers people once were — strong, principled, unbending in truth. Once upon a time, Rivers State was the cradle of conscience — the home of Okilo, Obi Wali, Ken Saro-Wiwa, Diete-Spiff, and Tam David-West. They were the pillars of our collective dignity. To erase one is to weaken the others. We cannot afford to become a generation that builds roads but destroys remembrance. A city that forgets its heroes soon forgets itself. Today, the boulevard stands in silence.
The proud steel markers have been hewn down, yet a few businesses still bear his name — small flames of resistance in the wind of revision. Their signboards still whisper, Tam David-West Boulevard, as if the very ground remembers the truth the government forgets. Perhaps the asphalt itself mourns, but it also remembers. We owe it to our children to lift his name again — not only in metal and paint, but in civic memory. Let those signs rise taller, brighter, unashamed. Let them tell every traveller on that road that once there lived a Rivers man who served with clean hands, who spoke truth to power, who never bowed to corruption. That, indeed, is the Rivers spirit — fearless, dignified, incorruptible.“Don’t kill Tam David-West!” is not only a plea; it is a command from the heart of history. It is a cry against forgetfulness. It is a reminder that integrity is the greatest heritage any people can keep.
When we defend his name, we defend our own possibility of goodness. When we erase him, we erase a piece of our own honour. So let the signs return. Let the name Tam David-West Boulevard shine once more at NTA Road and Omagwa Roundabout. Let Rivers State rise above pettiness and reclaim its conscience. For names like Tam David-West do not die — they only wait for courage to call them back. To kill Tam David-West is to kill the Rivers soul. And that, we must never do.Amieyeofori Ibim is a seasoned Journalist, political analyst and public affairs commentator.
By:  Amieyeofori Ibim
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Fuel Subsidy Removal and the Economic Implications for Nigerians

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From all indications, Nigeria possesses enough human and material resources to become a true economic powerhouse in Africa. According to the National Population Commission (NPC, 2023), the country’s population has grown steadily within the last decade, presently standing at about 220 million people—mostly young, vibrant, and innovative. Nigeria also remains the sixth-largest oil producer in the world, with enormous reserves of gas, fertile agricultural land, and human capital.

 

Yet, despite this enormous potential, the country continues to grapple with underdevelopment, poverty, unemployment, and insecurity. Recent data from the National Bureau of Statistics (NBS, 2023) show that about 129 million Nigerians currently live below the poverty line. Most families can no longer afford basic necessities, even as the government continues to project a rosy economic picture.

The Subsidy Question

The removal of fuel subsidy in 2023 by President Bola Ahmed Tinubu has been one of the most controversial policy decisions in Nigeria’s recent history. According to the president, subsidy removal was designed to reduce fiscal burden, unify the foreign exchange rate, attract investment, curb inflation, and discourage excessive government borrowing.

While these objectives are theoretically sound, the reality for ordinary Nigerians has been severe hardship. Fuel prices more than tripled, transportation costs surged, and food inflation—already high—rose above 30% (NBS, 2023). The World Bank (2023) estimates that an additional 7.1 million Nigerians were pushed into poverty after subsidy removal.

A Critical Economic View

As an economist, I argue that the problem was not subsidy removal itself—which was inevitable—but the timing, sequencing, and structural gaps in Nigeria’s implementation.

  1. Structural Miscalculation

Nigeria’s four state-owned refineries remain nonfunctional. By removing subsidies without local refining capacity, the government exposed the economy to import-price pass-through effects—where global oil price shocks translate directly into domestic inflation. This was not just a timing issue but a fundamental policy miscalculation.

  1. Neglect of Social Safety Nets

Countries like Indonesia (2005) and Ghana (2005) removed subsidies successfully only after introducing cash transfers, transport vouchers, and food subsidies for the poor (World Bank, 2005). Nigeria, however, implemented removal abruptly, shifting the fiscal burden directly onto households without protection.

  1. Failure to Secure Food and Energy Alternatives

Fuel subsidy removal amplified existing weaknesses in agriculture and energy. Instead of sequencing reforms, government left Nigerians without refinery capacity, renewable energy alternatives, or mechanized agricultural productivity—all of which could have cushioned the shock.

Political and Public Concerns

Prominent leaders have echoed these concerns. Mr. Peter Obi, the Labour Party’s 2023 presidential candidate, described the subsidy removal as “good but wrongly timed.” Atiku Abubakar of the People’s Democratic Party also faulted the government’s hasty approach. Human rights activists like Obodoekwe Stive stressed that refineries should have been made functional first, to reduce the suffering of citizens.

This is not just political rhetoric—it reflects a widespread economic reality. When inflation climbs above 30%, when purchasing power collapses, and when households cannot meet basic needs, the promise of reform becomes overshadowed by social pain.

Broader Implications

The consequences of this policy are multidimensional:

  • Inflationary Pressures – Food inflation above 30% has made nutrition unaffordable for many households.
  • Rising Poverty – 7.1 million Nigerians have been newly pushed into poverty (World Bank, 2023).
  • Middle-Class Erosion – Rising transport, rent, and healthcare costs are squeezing household incomes.
  • Debt Concerns – Despite promises, government borrowing has continued, raising sustainability questions.
  • Public Distrust – When government promises savings but citizens feel only pain, trust in leadership erodes.

In effect, subsidy removal without structural readiness has widened inequality and eroded social stability.

Missed Opportunities

Nigeria’s leaders had the chance to approach subsidy removal differently:

  • Refinery Rehabilitation – Ensuring local refining to reduce exposure to global oil price shocks.
  • Renewable Energy Investment – Diversifying energy through solar, hydro, and wind to reduce reliance on imported petroleum.
  • Agricultural Productivity – Mechanization, irrigation, and smallholder financing could have boosted food supply and stabilized prices.
  • Social Safety Nets – Conditional cash transfers, food vouchers, and transport subsidies could have protected the most vulnerable.

Instead, reform came abruptly, leaving citizens to absorb all the pain while waiting for theoretical long-term benefits.

Conclusion: Reform With a Human Face

Fuel subsidy removal was inevitable, but Nigeria’s approach has worsened hardship for millions. True reform must go beyond fiscal savings to protect citizens.

Economic policy is not judged only by its efficiency but by its humanity. A well-sequenced reform could have balanced fiscal responsibility with equity, ensuring that ordinary Nigerians were not crushed under the weight of sudden change.

Nigeria has the resources, population, and resilience to lead Africa’s economy. But leadership requires foresight. It requires policies that are inclusive, humane, and strategically sequenced.

Reform without equity is displacement of poverty, not development. If Nigeria truly seeks progress, its policies must wear a human face.

References

  • National Bureau of Statistics (NBS). (2023). Poverty and Inequality Report. Abuja.
  • National Population Commission (NPC). (2023). Population Estimates. Abuja.
  • World Bank. (2023). Nigeria Development Update. Washington, DC.
  • World Bank. (2005). Fuel Subsidy Reforms: Lessons from Indonesia and Ghana. Washington, DC.
  • OPEC. (2023). Annual Statistical Bulletin. Vienna.

 

By: Amarachi Amaugo

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