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The Economy: Disturbing Signals From Presidency
Signals emanating from and around the Presidency in recent times have not been complementary to the institution, especially as pertains to the management of the Nigerian economy. With the most acute implications is the issue of the creation of a new Presidential Economic Advisory Council (PEAC), in the face of the National Economic Council (NEC) which is provided for in Section 153 of the Constitution. President Muhammadu Buhari had recently established the PEAC under circumstances that attracted more suspicion than merit for it, in spite of the impeccable credentials of the designated members. The major plank on which public misgiving had rested was the equally trending story that the personal aides of the Vice President who is also the Chairman of the NEC, have been redeployed to operate from offices outside the immediate precincts of the State House. The two stories largely reinforce the public take that there is a rift between the offices of the President and the Vice President – a development which if true, projects the Presidency as a house divided against itself.
While as expected, the State House media team had been striving to neutralise whatever insinuations that have been generated by these strands of information, the need exists for caution to guide the Presidency as the various operatives launch one initiative after the other, many of which only heighten public sense of unease in these times. Public concern over the stance of the Presidency on the economy is justified by the harsh experiences of the first term, during which the country went into avoidable economic recession. Nigerians and foreigners alike who have stakes in the Nigerian economy easily blame the government for allowing the recession through inchoate economic policy measures made worse with wrong timing.
With the advent of PEAC, the Presidency has set for itself another challenge of convincing Nigerians that it has no agenda of vitiating the integrity of the NEC and thereby launch Nigerian economy into another season of arrested development as occurred during the first term. Given that the management of a country’s economy thrives better with transparency and orderliness in the regime of policy administration, the simultaneous operation of two economic advisory bodies hardly bodes for efficiency. Against the backdrop of the foregoing therefore, many Nigerians wondering over the legitimacy as well as utility of the new body, especially from the context of two fears. Firstly, is why create a parallel body to the constitutionally established NEC in respect of providing economic advisory inputs to the Presidency? With the Vice Presidency as its Chairman, does NEC report to any other authority beyond the President? Secondly, was the advent of PEAC playing out the script which is trending virally, on the ground that it was intended by the hawks in the Presidency to blight the political relevance of the Vice President, Professor Yemi Osinbajo, and predispose him to irrelevance in Nigeria’s presidential political calculus for 2023. This second fear has trended to the extent of assuming the semblance of realty in many quarters, leading some governors to actually demand formal clarification from the Vice President. He in his response to them, explained that the PEAC was just a personal think tank for the President himself and has no negative effect on the NEC. Whether the inquiring governors and the Nigerian public were convinced by the Vice President, is a matter for another day.
Meanwhile, the country is yet to come to terms with an earlier Presidential directive for all Ministers to communicate with the President officially only through the Chief of Staff, Mr Abba Kyari. Needless to recall the wave of resentment it generated when that order saw the light of day, as many suspected a hidden agenda of tacit marginalisation of whoever does not fit into the good books of Kyari, as the ‘clearing house’ for the President’s attention and favours. Many had argued then whether the Vice President should also pass through Abba Kyari to communicate with the President. However, the advent of PEAC has left many permutations trending in the public domain.
Coming back to the spectacle of the PEAC against the backdrop of happenings in the Presidency leads more than a few Nigerians to nurse the fear that the economy may still be a weak link in Buhari’s second term – this time due to infighting among the key factors in the government’s engine room. While the major weak point throughout the first term of Muhamadu Buhari as the President of the country was the nation’s economy, largely due to the misreading of its features at the inception of his tenure, the prospects of having a continuation of the same malady in the second term may be a pill too bitter for Nigerians to swallow without a whimper.
Yet, the manifest concerns of the APC government at the centre, seem to focus less on the burning issue of an improved economy and more on permutations for the post-Buhari era come 2023. Many think that the circumstances that ushered in the APC into political power at the centre in 2015 and 2019 seem to have overwhelmed the party and the Presidency that they literally forget that the country’s perennial development challenge is on the economic front.
The question now is, having bulldozed themselves into power in 2015 and 2019, is the APC keen on winning the peoples’ hearts for the future? The disturbing signals from the Presidency point to a different direction.
Monima Daminabo
The Administrator of Rivers State, Retired Vice Admiral Ibok-Ete Ekwe Ibas, has assured the commitment of Rivers State government to workers’s welfare and industrial harmony in Rivers State.
The Sole Administrator gave the assurance after meeting with leadership of organized labour unions at the Government House, Port Harcourt on Wednesday.
Ibas reaffirmed government’s policy of prompt payment of salaries and pensions to workers and retirees, stating that all local government employees are not receiving the approved minimum wage.
He disclosed that approval has been given for payment of newly employed staff at Rivers State University Teaching Hospital and the Judiciary, while medical workers in Local Government Areas will now receive correct wages.
Ibas explained that, Government is reviewing implementation challenges of the Contributory Pension Scheme ahead of the July 2025 deadline, adding that Intervention buses have been reintroduced to ease workers’ transportation ,with plans to expand the fleet.
He said specialized leadership training for top civil servants will commence within two weeks, while due consideration is being given to implementing the N32,000 consequential adjustment for pensioners and clearing outstanding gratuities.
Ibas commended Rivers State workers for their dedication to service and called for sustained partnership with labour unions to maintain industrial peace.
“This administration recognizes workers as critical partners in development. We remain committed to addressing your legitimate concerns within available resources,” he stated.
The State NLC Chairman, Comrade Alex Agwanwor, thanked the Administrator for the steps taken so far with regard to workers welfare while appreciating his disposition towards alleviating the transportation problem faced by workers.
He also expressed appreciation for the government’s openness to dialogue and pledged continued cooperation towards achieving mutual goals.
The Rivers State Government assured all workers of its unwavering commitment to their welfare and called for continued dedication to service delivery for the collective progress of our dear State.
The Nigeria Labour Congress (NLC), Rivers Council, has called for policies that will improve the economic situation of the country in order to ensure enhanced living standard for workers.
The State Chairman, Mr Alex Agwanwor, made the remark on behalf of the unions affiliated to Labour Congress during the 2025 workers day celebration in Port Harcourt, yesterday.
Agwanwor highlighted the demands of the Unions which included the immediate payment of pension arrears, implementation of the N32,000 minimum wage for pensioners, and payment of gratuities and death benefits without further delay.
“We are calling for the regulation and protection of e-hailing drivers, implementation of increments and promotions, and resolution of long-standing issues in the polytechnic sector,” he said.
Agwanwor on behalf of the unions appealed to President Bola Tinubu to reinstate the democratically elected Governor, Deputy Governor, and members of the Rivers State House of Assembly.
He stressed the importance of democratic governance and good working relationship with elected representatives.
According to him, the unions expressed disappointment over the imposition of taxes, increase in electricity tariff, and high cost of goods and services, which have further worsened the plight of workers.
“We urge the federal government to take measures to alleviate the suffering of citizens,” he said.
Vice-President Kashim Shettima says President Bola Tinubu is committed to unlocking Nigeria’s full potential and position the country as a leading force on the African continent.
Shettima stated this when he hosted a delegation from the Hertie School of Governance, Berlin, led by its Senior Fellow, Dr Rolf Alter, at the Presidential Villa in Abuja last Wednesday.
He said Nigeria was actively seeking expertise from the global best institutions to enhance policy formulation and implementation, particularly in human capital development.
The Vice-President noted that President Tinubu was determined to elevate Nigeria to its rightful position as a leading force in Africa.
“The current crop of leadership in Nigeria under President Bola Ahmed Tinubu is ready and willing to unleash the full potential of the Nigerian nation on the African continent.
” We are laying the groundwork through strategic reforms, and at the heart of it, is human capital development.”
He described the Hertie School as a valuable partner in the journey.
According to him, Hertie School of Governance, Berlin, has track record and institutional knowledge to add value to our policy formulation and delivery, especially in this disruptive age.
Shettima reiterated the government’s priority on upskilling Nigerians, saying ” skills are very important, and with our Human Capital Development (HCD) 2.0 programme.
“We are in a position to unleash the full potential of the Nigerian people by enhancing their capital skills.”
The Vice-President acknowledged the vital support of international development partners in that effort.
” I want to thank the World Bank, the European Union, the Bill and Melinda Gates Foundation, and all our partners in that drive to add value to the Nigerian nation,” he maintained.
The Vice-President said human capital development was both an economic imperative and a social necessity.
Shettima assured the delegation of the government’s readiness to deepen cooperation.
” We need the skills and the capacity from your school. The world is now knowledge-driven.
“I wish to implore you to have a very warm and robust partnership with the government and people of Nigeria.”
Shettima further explained recent economic decisions of the government, including fuel subsidy removal and foreign exchange reforms.
“The removal of fuel subsidy, the unification of the exchange rate regime and the revolution in the energy sector are all painful processes, but at the end of the day, the Nigerian people will laugh last.
“President Tinubu is a very modern leader who is willing to take far-reaching, courageous decisions to reposition the Nigerian economy,” he added.
Earlier, Alter, congratulated the Tinubu administration for the successful launch and implementation of the Human Capital Development (HCD) strategy.
The group leader described the development as ambitious and targeted towards the improvement of the lives of the citizens.
He expressed satisfaction with the outcome of his engagements since arriving in the country.
He applauded the zeal, commitment, energy and goodwill observed among stakeholders in the implementation of Nigeria’s HCD programme.
Alter said the Hertie School of Governance would work closely with authorities in Nigeria across different levels to deliver programmes specifically designed to address the unique needs of the country.
He, however, stressed the need for government officials at different levels to be agile and amenable to the dynamics of the evolving world, particularly as Nigeria attempted to successfully accelerate its human capital development aspirations.
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