Opinion
Import Of Obaseki’s Speech
The world has changed. Nigeria has changed. The economy of Nigeria is not the same again whether we like it or not. We have been managing since the civil war. We say money is not our problem. As long as we are pumping crude oil every day there will always be money. So, we have run a strange economy, a strange presidential system. Everywhere else, the government relies on the people to produce taxes, they collect taxes and it is the taxes they use to run the local, state and federal government.
But the way we run Nigeria and subsequently the political parties up till now is that it does not matter. The country can go on holiday; the country can go and sleep. At the end of the month, we all just go to Abuja and we collect money and we come back and we spend. We are in huge financial trouble. First, what we used to rely on, crude oil, forget what you are seeing now as 60, 70 dollars per a barrel. It is only a mirage. It’s only a question of time because the major oil companies – Shell, Chevron are no longer investing as much in oil. Chevron is now one of the world’s largest investors in alternative fuel. Shell is pulling out of Nigeria.
So, in another year or so, where will we find this money that we go to Abuja to share? Last month, the Federal Government printed an additional N50 to N60 billion to top up for us to share. This April again, we will go to Abuja, we will share. By the end of this year, our total borrowings is going to be within N15 to N16 trillion. You can imagine a family, you don’t have money coming in, you’re just borrowing and borrowing and borrowing without any means or idea on how to pay back and nobody is looking at that. Everybody is looking at 2023.” – Godwin Obaseki, Edo State Governor
Yes, it is a long quote but I had to insert it because within these few lines lies the major economic problem of the nation. Of course, Obaseki having been in power for over four years cannot be exonerated from the quantum mess in the country. The economy of Edo State may have nosedived during his administration as claimed by the leadership of APC in the state, but did he hit the nail on the head? Yes, he did. Is the speech a wake-up call? Definitely!
I think it’s high time Nigerians, both in low and high places began to tell ourselves the stack naked truth and stop all the lies and cover ups that are doing the country no good. We all are in this sinking ship and if we fail to realize it or continue to pretend that all is well, when the ship sinks, we will all go down. We cannot continue on the unprogressive lane we have been for decades and expect the country to grow.
Several economic experts have warned time without number about the nation’s over dependence on oil and the danger it portends to the economic growth of the country yet no concrete measure is seen to have been taken to change the narrative by successive administrations. The manufacturing sector is almost dead. The agricultural sector is in bad shape. Even those that have been keeping the sector alive and some other persons that try to go into agriculture are discouraged by the unending insecurity in the country.
The most worrisome issue raised by Obaseki is the revenue sharing method. Our federation is such that monthly revenue accruing from oil, corporate taxes, VAT, customs, and other levies are shared across the three tiers of government- federal, state and the local governments after 13% of any revenue made from natural resources is paid to the origin states of those resources and other deductions associated with collecting revenues is made. In line with the sharing formula, the federal government takes 52.68%, the states share 26.72% while the local governments get 20.60%. Each state gets its own share of the revenue based on a “Horizontal Allocation Formula” with a few factors put into consideration.
With the assurance of the monthly income, many states hardly look inward for other sources of income. Reports have it that up to 14 states fund at least 90% of their budget with their FAAC allocations. With the dwindling oil revenue, the FG may resort to printing more money to be shared as revealed by Obaseki or continue borrowing from countries across the globe and from within. A recent report of the National Bureau of Statistics (NBS) reveals that the country’s total public debt stock, constituting of external and domestic debts stood at N32.22 trillion ($84.57 billion) as at September 30, 2020, indicating an increase of N6.01 trillion within a year. The worst is that there is little or nothing to show for these huge borrowings both at the federal and state levels.
These should be of great concern to any well-meaning Nigerian especially the policy makers who by now ought to be working on policies that will result in a paradigm shift in the country. Gov. Obaseki’s suggestion of raising internally generated revenue through taxes is not a bad idea provided those saddled with that responsibility will be sincere and the money will be judiciously used.
Some analysts have also posited that the current system of government in Nigeria is very expensive and wasteful saying that instead of the presidential system, the country should go back to regional system of government which allows various regions to grow at their pace and engenders competition among the regions. Certainly, that is the way to go. Let the geo-political zones think outside the box, using their abundant natural resources and other endowments to develop themselves. They should be paying stipulated percentage of their income to the federal government instead of the other way round.
It is also imperative that urgent and due attention be paid to the development of the agricultural, manufacturing and other sectors of the economy as well as the revitalisation of all the dead industries across the country. Adequate measures should be taken to tackle the heightened insecurity challenge in various parts of the country because, without security, all plans towards having a better country will be futile efforts.
By: Calista Ezeaku
Opinion
Empowering Youth Through Agriculture
Quote:”While job seeking youths should continuously acquire skills and explore opportunities within their immediate environment as well as in the global space through the use of digital platforms, government, corporate/ multinational organizations or the organised private sector should generate skills and provide the enabling environment for skills acquisition, through adequate funding and resettlement packages that will provide sustainable economic life for beneficiaries”.
The Governor of Rivers State, Sir Siminalayi Fubara, recently urged youths in the Rivers State to take advantage of the vast opportunities available to become employers of labour and contribute meaningfully to the growth and development of the State. Governor Fubara noted that global trends increasingly favour entrepreneurship and innovation, and said that youths in Rivers State must not be left behind in harnessing these opportunities. The Governor, represented by the Secretary to the State Government, Dr Benibo Anabraba, made this known while declaring open the 2026 Job Fair organised by the Rivers State Government in partnership with the Nigeria Employers’ Consultative Association (NECA) in Port Harcourt. The Governor acknowledged the responsibility of government to create jobs for its teeming youth population but noted that it is unrealistic to absorb all job seekers into the civil service.
“As a government, we recognise our duty to provide employment opportunities for our teeming youths. However, we also understand that not all youths can be accommodated within the civil service. This underscores the need to encourage entrepreneurship across diverse sectors and to partner with other stakeholders, including the youths themselves, so they can transition from being job seekers to employers of labour,” he said. It is necessary to State that Governor Fubara has not only stated the obvious but was committed to drive youth entrepreneurship towards their self-reliance and the economic development of the State It is not news that developed economies of the world are skilled driven economies. The private sector also remains the highest employer of labour in private sector driven or capitalist economy though it is also the responsibility of government to create job opportunities for the teeming unemployed youth population in Nigeria which has the highest youth unemployed population in the subSahara Africa.
The lack of job opportunities, caused partly by the Federal Government’s apathy to job creation, the lack of adequate supervision of job opportunities economic programmes, lack of employable skills by many youths in the country have conspired to heighten the attendant challenges of unemployment. The challenges which include, “Japa” syndrome (travelling abroad for greener pastures), that characterises the labour market and poses threat to the nation’s critical sector, especially the health and medical sector; astronomical increase in the crime rate and a loss of interest in education. While job seeking youths should continuously acquire skills and explore opportunities within their immediate environment as well as in the global space through the use of digital platforms, government, corporate/ multinational organizations or the organised private sector should generate skills and provide the enabling environment for skills acquisition, through adequate funding and resettlement packages that will provide sustainable economic life for beneficiaries.
While commending the Rivers State Government led by the People First Governor, Sir Siminilayi Fubara for initiating “various training and capacity-building programmes in areas such as ICT and artificial intelligence, oil and gas, maritime, and the blue economy, among others”, it is note-worthy that the labour market is dynamic and shaped by industry-specific demands, technological advancements, management practices and other emerging factors. So another sector the Federal, State and Local Governments should encourage youths to explore and harness the abounding potentials, in my considered view, is Agriculture. Agriculture remains a veritable solution to hunger, inflation, and food Insecurity that ravages the country. No doubt, the Nigeria’s arable landmass is grossly under-utilised and under-exploited.
In recent times, Nigerians have voiced their concerns about the persistent challenges of hunger, inflation, and the general increase in prices of goods and commodities. These issues not only affect the livelihoods of individuals and families but also pose significant threats to food security and economic stability in the country. The United Nations estimated that more than 25 million people in Nigeria could face food insecurity this year—a 47% increase from the 17 million people already at risk of going hungry, mainly due to ongoing insecurity, protracted conflicts, and rising food prices. An estimated two million children under five are likely to be pushed into acute malnutrition. (Reliefweb ,2023). In response, Nigeria declared a state of emergency on food insecurity, recognizing the urgent need to tackle food shortages, stabilize rising prices, and protect farmers facing violence from armed groups. However, without addressing the insecurity challenges, farmers will continue to struggle to feed their families and boost food production.
In addition, parts of northwest and northeast Nigeria have experienced changes in rainfall patterns making less water available for crop production. These climate change events have resulted in droughts and land degradations; presenting challenges for local communities and leading to significant impact on food security. In light of these daunting challenges, it is imperative to address the intricate interplay between insecurity and agricultural productivity. Nigeria can work toward ensuring food security, reducing poverty, and fostering sustainable economic growth in its vital agricultural sector. In this article, I suggest solutions that could enhance agricultural production and ensure that every state scales its agricultural production to a level where it can cater to 60% of the population.
This is feasible and achievable if government at all levels are intentional driving the development of the agricultural sector which was the major economic mainstay of the Country before the crude oil was struck in commercial quantity and consequently became the nation’s monolithic revenue source. Government should revive the moribund Graduate Farmers Scheme and the Rivers State School-to-Land agricultural programmes to operate concurrently with other skills acquisition and development programmes. There should be a consideration for investment in mechanized farming and arable land allocation. State and local governments should play a pivotal role in promoting mechanized farming and providing arable land for farming in communities. Additionally, allocating arable land enables small holder farmers to expand their operations and contribute to food security at the grassroots level.
Nigeria can unlock the potential of its agricultural sector to address the pressing needs of its population and achieve sustainable development. Policymakers and stakeholders must heed Akande’s recommendations and take decisive action to ensure a food-secure future for all Nigerians.
By: Igbiki Benibo
Opinion
Of Protests And Need For Dialogue
Quote:“.Across Abuja, Anambra, and Lagos, a common thread emerges: a disconnect between authority and empathy. Government actions may follow policy logic, but citizens respond from lived experience, fear, and frustration. When these realities collide without dialogue, the streets become the arena of engagement”
It was a turbulent week in the country, highlighting the widening gap between government intentions and public perception. From Abuja to Anambra and Lagos, citizens poured into the streets not just over specific grievances but in frustration with governance that often appears heavy-handed, confrontational, or insufficiently humane. While authorities may genuinely act in the public interest, their methods sometimes aggravate tensions rather than resolve them.
In Abuja, the strike by workers of the Federal Capital Territory Administration (FCTA) and the Federal Capital Development Authority (FCDA) under the Joint Union Action Committee (JUAC) brought the capital to a near standstill. Their demands included five months’ unpaid wages, hazard and rural allowances, promotion arrears, welfare packages, pension and National Housing Fund remittances, and training and career progression concerns. These are core labour issues that directly affect workers’ dignity and livelihoods. Efforts to dialogue with the FCT Minister reportedly failed. Even after a court ordered the strike to end, workers persisted, underscoring the depth of discontent. Threats and sanctions only hardened positions.
The FCT crisis shows that industrial peace cannot be enforced through coercion. Dialogue is not weakness; it is recognition that governance is about people. Meeting labour leaders, listening attentively, clarifying grey areas, and agreeing on timelines could restore trust. Honesty and negotiation are far more effective than threats.
In Anambra, protests by Onitsha Main Market traders followed the government’s closure of the market over continued observance of a Monday sit-at-home, linked to separatist agitation. Governor Chukwuma Soludo described compliance as economic sabotage, insisting Anambra cannot operate as a “four-day-a-week economy.” While the governor’s concern is understandable, threats to revoke ownership, seize, or demolish the market risk escalating tensions. Many traders comply out of fear, not ideology. Markets are social ecosystems of families, apprentices, and informal networks; heavy-handed enforcement may worsen resistance. A better approach combines persuasion, dialogue with market leaders, credible security assurances, and gradual confidence-building. Coordinated political engagement with federal authorities could also reduce regional tensions.
In Lagos, protests erupted over demolition of homes in low-income waterfront communities such as Makoko, Owode Onirin, and Oworonshoki. The state defended these actions as necessary for safety, environmental protection, and urban renewal. While objectives are legitimate, demolitions drew criticism for lack of notice, compensation, and humane resettlement. Urban development without regard for human consequences risks appearing elitist and anti-poor. Where demolitions are unavoidable, transparent engagement, fair compensation, and realistic relocation must precede action to maintain public trust and social stability.
Across Abuja, Anambra, and Lagos, a common thread emerges: a disconnect between authority and empathy. Government actions may follow policy logic, but citizens respond from lived experience, fear, and frustration. When these realities collide without dialogue, the streets become the arena of engagement.
Democracy cannot thrive on decrees, threats, or bulldozers alone. Leaders must listen as much as they command, persuade as much as they enforce. Minister Wike should see labour leaders as partners, Governor Soludo must balance firmness with sensitivity, and Lagos authorities should align urban renewal with compassion and justice. Protests are signals of communication failure. Dialogue, caution, and a human face in governance are not optional—they are necessities. Police and security agencies must respect peaceful protest as a constitutional right.
By: Calista Ezeaku
Opinion
Empowering Youth Through Agriculture
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