Editorial
Nigeria And Needless Imports
The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, was recently reported to have advised the Organised Private Sector (OPS) on some economic issues, including the need to review the goods that should be allowed for importation into the country.
Emefiele was bothered that the Naira was increasingly coming under pressure as the demand for the dollar was becoming unserviceable. He particularly blamed this on the speculative activities of foreign exchange market operators and noted that the CBN may consider withdrawing dollar backing for the importation of goods that can be manufactured locally.
According to him, government should no longer allow the importation of commodities like toothpick, sugar, fish, rice, tomato paste, furniture and petroleum products in the interest of the Nigerian economy.
The CBN governor’s advice was necessitated by the observed panic in the business community, which he accused of making too much dollar demand in order to stockpile foreign merchandise for fear that the nation’s external reserve was fast depleting due to the falling crude oil price.
Local production of the above listed goods will not only boost the country’s Gross Domestic Product (GDP), it will also create new jobs and re-enforce the value chain, while reducing the demand for the foreign exchange to pay for such non-essential imports.
Emefiele also charged his audience to take a cue from Alhaji Aliko Dangote who has practically moved Nigeria from a cement importing country to an exporter of the commodity and is also on the verge of completing a $9 billion petrochemicals project that has the capacity to stop the nation’s dependence on imported fuel. He said the CBN was ready to financially support serious entrepreneurs who embark on local production of hitherto imported products.
The Tide supports the proposal of the CBN boss as the appetite for the dollar has since gone beyond the need for the importation of all consumables into supporting social abuse. What with the way Nigerians now spray dollars at weddings and some corporate bodies award contracts in dollars, while local politicians finance their campaigns and other electioneering activities with foreign currencies, especially the American greenback.
Again, just as the nation has not been able to revert to the use of coins alongside its bank notes even after several attempts, the ‘dollarisation’ of the Nigerian economy may equally prove difficult to reverse, if not checked now.
Suspension of dollar allocation or the importation of certain commodities means that importers of such items would need to look elsewhere for the foreign exchange to pay for their goods. And since exchange rates are usually prohibitive outside the apex bank’s official windows, it then means that such imports will come in at higher rates and also sell at exorbitant prices against their local equivalents.
“We need to begin to look at the structure of our economy and tell ourselves that as we stopped importation of cement and as we are exporting cement, we can do the same and encourage those who are ready to produce to support the economy and help conserve our reserves and ultimately keep our exchange rate strong…” Emefiele said.
The dollar is, indeed, a major international currency the possession of which confers a lot of advantages on its holder, but Nigerians must be patriotic and not use the foreign currency to further weaken the nation’s already prostrate economy.
Even as we support the withdrawal of dollar backing for some needless imports, we suggest that government should look at the factors that predispose Nigerians to the lure of the dollar. This is to say that the appetite and preference for foreign goods must be reviewed.
Our local manufacturers must be assisted to produce good quality commodities that can compete favourably with others from elsewhere in the world, while the business class should be advised against the temptation of believing that their merchandise must bear foreign labels in order to attract good patronage in Nigeria.
Editorial
NCC, Save Nigerians From Exploitation
Editorial
WPFD: Nigeria’s Defining Test
Nigeria stands at a critical juncture as the world marked World Press Freedom Day (WPFD) on May 3. This annual observance is a reminder that a free press is central to democratic life, good governance, and public accountability. For Nigeria, it is also a moment for sober reflection on how far the country has come and how far it still has to go in safeguarding the independence of its media.
World Press Freedom Day exists to highlight the fundamental importance of freedom of expression and to honour journalists who risk their lives in pursuit of truth. It underscores the idea that without a free press, societies cannot function transparently, nor can citizens make informed decisions. In countries like Nigeria, where democracy continues to evolve, the observance carries particular urgency.
This year’s theme, “Shaping a Future at Peace: Promoting Press Freedom for Human Rights, Development and Security”, places journalism at the heart of global stability. It emphasises that a peaceful society cannot be built on silence, fear, or manipulated information. Rather, it depends on the free flow of accurate, timely, and independent reporting.
At its core, the theme highlights the role of journalism in fostering accountability, dialogue, and trust. These are not abstract ideals. In Nigeria, where public confidence in institutions is often fragile, the media remains one of the few platforms through which citizens can question authority and demand transparency. When press freedom declines, so too does public trust.
Journalism serves as a foundation for peace, security, and economic recovery. Countries with robust media systems tend to attract greater investment, maintain stronger institutions, and resolve conflicts more effectively. Nigeria’s economic challenges, ranging from inflation to unemployment, require open scrutiny and informed debate, both of which depend on a free press.
However, the issue of information integrity has become increasingly complex in the digital age. Artificial Intelligence (AI) and online platforms have amplified the spread of misinformation and disinformation. In Nigeria, where internet penetration has grown rapidly, false narratives can travel faster than verified facts. This makes the role of credible journalism more vital than ever.
The challenge is not only technological but also ethical. AI-driven manipulation of information threatens to distort public discourse, influence elections, and deepen social divisions. In such an environment, professional journalism must act as a stabilising force, ensuring that truth prevails over sensationalism and propaganda.
Equally troubling is the safety of journalists. Across Nigeria, reporters face growing levels of online harassment, judicial intimidation, and physical threats. Self-censorship is becoming more common, as media practitioners weigh the risks of reporting sensitive issues. This trend undermines the very essence of journalism.
A particularly alarming incident involved a serving minister in the present administration, who openly threatened to shoot a journalist during a televised exchange. Such conduct, broadcast to the public, sends a dangerous signal that hostility towards the press is acceptable. It erodes the norms of democratic engagement and places journalists in harm’s way.
This year’s theme aligns closely with the United Nations Sustainable Development Goal (SDG)16, which promotes peace, justice, and strong institutions. Freedom of expression is a cornerstone of this goal. Without it, institutions weaken, corruption thrives, and justice becomes elusive. Nigeria’s commitment to SDG 16 must therefore include genuine protection for the media.
Historically, the Nigerian press has been a formidable force. From resisting colonial rule to challenging military dictatorships, our journalists have played a central role in shaping the nation’s political landscape. Today, however, that legacy appears to be under strain, as the media operates under what can best be described as a veneer of freedom.
Beneath this facade lies a troubling reality. Journalists are routinely harassed, detained, and prosecuted for performing their constitutional duties. Reports from media watchdogs indicate that dozens of Nigerian journalists face legal threats or arrest each year, often for exposing corruption or criticising those in power.
The Cybercrimes (Prohibition, Prevention, etc.) Act of 2015 has become a focal point of concern. Originally intended to combat cyber threats, it has increasingly been used to silence dissent. Sections 24 and 27(1)(b), in particular, have been invoked to target journalists, bloggers, and social commentators.
Although amendments introduced in February 2024 were meant to safeguard journalists, concerns persist. The law continues to be wielded in ways that stifle investigative reporting and restrict freedom of expression. Legal reforms must go beyond cosmetic changes to address the root causes of misuse.
To safeguard the future of journalism in Nigeria, decisive action is required. The Cybercrimes Act must be revisited to ensure it cannot be weaponised against the press. Law enforcement agencies must operate free from political influence, upholding the rule of law and protecting journalists’ rights. Civil society and international partners must also strengthen independent media through funding, training, and platforms for wider reach.
In this rapidly evolving world shaped by artificial intelligence and digital innovation, Nigeria faces a clear choice. It can either allow press freedom to erode under pressure, or it can champion a truly independent media landscape. The path it chooses will determine not only the future of journalism, but also the strength of its democracy and the peace it seeks to build.
Editorial
FG’s LIN Policy: The Missing Link
-
Featured4 days agoWASSCE: RSG Distributes Science Materials To Secondary Schools
-
News4 days ago
Xenophobic Attacks: Nigerian Lives More Important Than Foreign Investment – Oshiomhole
-
Rivers4 days ago
MBA Forex Trial Adjourn To June 3, Amid Bereavement … As Court Declines Cost Application
-
News4 days ago
ActionAid Demands Probe Of Govs Using Public Funds For Campaign
-
Aviation4 days ago
Passengers Stranded As Delta Airline From Atlanta Route Back Eight Hours After
-
Business4 days ago
Customs Impound N2.35bn Cocaine, 15 Trailers of Rice
-
Politics4 days ago
2027: Bayelsa Senator Gets Critical Endorsement For Second Term
-
Politics4 days agoINEC Sets Rivers South-East Senatorial By-Election For June 20
