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Editorial

For A Reasonable 2023 Budget 

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Nigeria’s plan to obtain another N11 trillion loan to finance the 2023 national budget leaves a bitter aftertaste. The nation’s dwindling economy obviously demonstrates that going for a fresh loan would further exacerbate the country’s financial adversity, as the monies borrowed before now have not been fully repaid. If the proposal to borrow in the 2023 fiscal year goes through, the present administration will leave behind massive debts for its successor next year.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, recently amazed Nigerians when she disclosed that the Federal Government would be unable to fund capital projects in the 2023 fiscal year unless it borrowed more than N11 trillion. Zainab, who said that the budget deficit for the 2023 fiscal year might run between N11.30 trillion and N12.41 trillion, noted that the government’s decision to continue payment of petrol subsidy would largely affect the projection.
Currently, the country’s total debt is N41.6 trillion. With the new borrowing for 2023, the cumulative debt will be N52 trillion at the time the administration will hand over to the next President on May 29, 2023. The minister, while presenting the 2023–2025 Medium Term Expenditure Framework and Fiscal Strategy Paper before the House of Representatives Committee on Finance, put the aggregate expenditure of the government for 2023 at N19.76 trillion.
Stakeholders fear that the economy is on the verge of bankruptcy because of the deepening debt crisis. Ahmed said crude oil production challenges and fuel subsidy deductions by the Nigerian National Petroleum Corporation (NNPC) Limited constitute a significant threat to the achievement of the nation’s revenue growth targets. They stated the need for bold, decisive and necessary action to address revenue loss and expenditure efficiency at national and subnational levels.
Indeed, the government’s suggested move smacks of gross insensitivity and a confirmation that President Muhammadu Buhari cannot manage Nigeria’s challenges. Nigerians must resist any further attempt by the current administration to enslave the country. Instead of plunging the nation deeper into irredeemable debt, it will be better for the President to honourably resign if the nation’s complex problems have overwhelmed him.
It is time everyone became conscious of the unfortunate economic implications of Buhari’s borrowing spree to avoid mortgaging the future of the unborn generations. We have pretended enough and for too long. At this rate of borrowing, Nigeria will soon be worse than a failed nation. We should no longer be making excuses about the despondency of our situation brought upon us by the current government. The situation is disconcerting and scary.
The new proposal to borrow would worsen the existing bad debt situation. Already, debt service has exceeded the government’s revenue going by the financial report of the Federal Government as of April this year. We are now at a debt threshold that is unsustainable. The economy is on the verge of collapse, while the increasing debt crisis could crystallise the insolvency risk. Therefore, elevated debt burden should be resisted strongly.
Regrettably, it implies that the entire capital budget, recurrent expenditure and part of the debt service, would have to be funded from borrowing. What is required is the political will to cut expenditure and undertake reforms that could scale down the size of government, reduce governance costs and ease the fiscal burden. Fuel subsidy has to be addressed as steps should be quickly taken to gradually exit the subsidy regime if the economy must not disintegrate.
The truth is that the Federal Government cannot cut costs; it keeps spending on unnecessary and unproductive items as if it was not aware that Nigeria has been grappling with a severe revenue crisis. The major source of its foreign exchange is oil export. To make issues worse, the country has been unable to meet its Organisation of Petroleum Exporting Countries (OPEC) allocated daily crude oil production quota for more than two years.
The sector is faced with unprecedented crude oil theft, while the governing authorities fail to make existing refineries work for domestic refining of crude. Our country already has a double-digit inflation figure as refined petrol sells for between N174 and N220 per litre above the official rate of 165/litre. Nigeria’s foreign exchange reserve is drying out because of poor forex earnings from oil that is spent on scandalous fuel subsidies through the back door.
It is spurious to think that Nigeria has a revenue concern. What it suffers from is the inability to reap its earnings because the government has not demonstrated enough capacity to either curb corruption or theft in the oil sector. Hence, the fiscal deficit would continue to soar as long as the authorities fail to creatively strengthen revenue generation by reducing corrupt practices, impeding oil theft and dealing with insecurity that has adversely manacled economic enterprises across the board.
Some financial and economic experts have warned the Federal Government to reduce its current level of borrowing, as a considerable chunk of government revenue is now being spent on debt servicing. This position is not distant from the truth. It is our view that rather than continue to rely on borrowing to finance its activities, Buhari should adopt other sources of funding for the infrastructure needs of the country. The government should broaden the sources of revenue for budget financing.
Significant areas the government could explore to free more funds for infrastructure development include reorganisation of the National Housing Fund, reorganising railway development to expunge it as a federal monopoly to bring in private sector investments, and opening the window of investments into the power sector, especially in transmission and distribution, among others.
So, we ask: where is the vaunted expanded production and revenue with which to pay the loans? The country is not yet paying back these loans; neither does it have sufficient funds to pay the interests on the loans. This government will easily go on record as having mortgaged the present and the future of Nigeria with its profligate expenditure and mercenary management of the economy.
We hope it will be restrained from doing more harm before leaving office. The National Assembly must not endorse another borrowing but rather institute an impartial panel that will probe and investigate all the monies generated from NNPC Limited, taxes and excise duties, contracts awarded, monies produced from gold and other solid minerals, Abacha’s loots and others recovered by the regime.

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Editorial

Benue Killings: Beyond Tinubu’s Visit

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The recent massacre in Yelewata, Benue State, ranks among Nigeria’s deadliest attacks of
2025. While official figures put the death toll at 59, media reports and Amnesty International estimate between 100 and 200 fatalities. This atrocity extends a decade-long pattern of violence in Nigeria’s Middle Belt, where Beacon Security data records 1,043 deaths in Benue alone between May 2023 and May 2025.
President Tinubu’s visit on 18 June—four days after the 14 June attack—has drawn sharp criticism for its lateness. This delay echoes a history of inadequate responses, with Human Rights Watch documenting similar inaction in Plateau and Kaduna states since 2013, fuelling a culture of impunity. The attack lasted over two hours without meaningful security intervention, despite claims of swift action.
The violence bore hallmarks of genocide, with survivors recounting systematic house burnings and executions. More than 2.2 million people have been displaced in the region since 2019 due to comparable attacks. Data show Benue’s agricultural output falls by 0.21 per cent in crops and 0.31 per cent in livestock for every 1 per cent rise in violence.
Security forces continue to underperform. No arrests were made following the Easter attacks in April (56 killed) or May’s Gwer West massacre (42 killed). During his visit, Tinubu questioned publicly why no suspects had been detained four days after Yelewata, highlighting entrenched accountability failures.
The roots of the conflict are complex, with climate change pushing northern herders south and 77 per cent of Benue’s population reliant on agriculture. A Tiv community leader described the violence as “calculated land-grabbing” rather than mere clashes, with over 500 deaths recorded since 2019.
Government interventions have largely fallen short. The 2018 federal task force and 2025 Forest Guards initiative failed to curb violence. Tinubu’s newly announced committee of ex-governors and traditional rulers has been met with scepticism given the litany of past unkept promises.
The economic fallout is severe. Benue’s status as Nigeria’s “food basket” is crumbling as farms are destroyed and farmers displaced. This worsens the nation’s food crisis, with hunger surges in 2023-2024 directly linked to farming disruptions caused by insecurity.
Citizens demanding justice have been met with force; protesters faced police tear gas, and the State Assembly conceded total failure in safeguarding lives, admitting that the governor, deputy, and 32 lawmakers had all neglected their constitutional responsibilities.
The massacre has drawn international condemnation. Pope Leo XIV decried the “terrible massacre,” while the UN called for an investigation. The hashtag “200 Nigerians” trended worldwide on X, with many contrasting Nigeria’s slow response to India’s swift action following a plane crash with similar fatalities.
Nigeria’s centralised security system is clearly overwhelmed. A single police force is tasked with covering 36 states and 774 local government areas for a population exceeding 200 million. Between 2021 and 2023 alone, 29,828 killings and 15,404 kidnappings were recorded nationally. Proposals for state police, floated since January 2025, remain stalled.
Other populous nations offer alternative models. Canada’s provincial police, India’s state forces, and Indonesia’s municipal units demonstrate the effectiveness of decentralised policing. Nigeria’s centralised structure creates intelligence and response gaps, worsened by the distance—both physical and bureaucratic—from Abuja to affected communities.
The immediate aftermath is dire: 21 IDP camps in Benue are overwhelmed, and a humanitarian crisis is deepening. The State Assembly declared three days of mourning (18-20 June), but survivors lack sufficient medical aid. Tragically, many of those killed were already displaced by earlier violence.
A lasting solution requires a multi-pronged approach, including targeted security deployment, regulated grazing land, and full enforcement of Benue’s 2017 Anti-Open Grazing Law. The National Economic Council’s failure to prioritise state police in May 2025 represents a missed chance for reform.
Without decisive intervention, trends suggest conditions will worsen. More than 20,000 Nigerians have been killed and 13,000 kidnapped nationwide in 2025 alone. As Governor Hyacinth Alia stressed during Tinubu’s visit, state police may be the only viable path forward. All 36 states have submitted proposals supporting decentralisation—a crucial step towards breaking Nigeria’s vicious cycle of violence.

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Editorial

Responding To Herders’ Threat In Rivers

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Community leaders in Etche Local Government Area (LGA) of Rivers State have raised the alarm over spiralling insecurity, rampant land encroachment, and the growing menace of herdsmen attacks that are devastating their communities.
At a recent stakeholders’ forum convened with state authorities and headed by the Commissioner of Police, Mr Olugbenga Adepoju, the leaders implored the Rivers State Government to act urgently. They warned that criminal activities have collapsed essential services, including healthcare and education, plunging residents into hardship.
Mr Adepoju, representing the Sole Administrator of Rivers State, Vice Admiral Ibok-Ete Ekwe Ibas (Rtd), visited Etche as part of a broader fact-finding mission aimed at evaluating community challenges and formulating targeted responses rooted in local feedback.
Hon. Onyenachi Nwankwor, Administrator of Etche LGA, underscored the intensifying threat posed by herdsmen. He reported that farmlands are being seized, with armed herders allegedly extorting inhabitants and presenting serious risks to lives and property.
Farmers have been uprooted from their ancestral lands, severing generational ties and undermining their livelihoods. The abandonment of fields jeopardises food security and frays social cohesion, inflaming tensions and stoking fears of escalating conflicts over land and resources.
Women of Ogoni ethnic nationality, particularly in Luusue Sogho, Khana LGA, have decried escalating herders’ attacks on their farms, which are upending livelihoods and engendering fear. The systematic destruction of crops erodes economic stability and imperils food security, worsening malnutrition.
Similarly, women farmers in Ejamah, Eleme LGA, protested the destruction of their crops. They carried remnants of ruined harvests to the Eleme Police Station in a desperate plea for justice and protection.
A particularly harrowing incident was recorded in Afam Uku, Oyigbo LGA, where herdsmen reportedly attacked farmers, leaving two dead. The assault also resulted in the destruction of crops and displacement of numerous farming families.
Despite the Open Rearing and Grazing (Prohibition) Law No. 5 of 2021 designed to curb open grazing, violations persist. There is renewed demand for rigorous enforcement, swift arrests, and prosecutions to send an unequivocal message that lawlessness will no longer be condoned.
With a state of emergency declared in Rivers State, the onus is on every indigene and resident to proactively prevent any escalation into a full-blown crisis. Complacency is not an option; vigilance and cooperation with authorities are paramount. Crucially, security operatives must understand the heightened sensitivity of the situation and act decisively to maintain law and order.
Security agents must actively monitor vulnerable areas, identify potential flashpoints, and intervene promptly to avert unrest. Timely and resolute action is vital to restoring normalcy and forestalling larger catastrophe.
A sustainable solution lies in transitioning from open grazing to ranching, supported by policy and funding. Additionally, local peace committees should spearhead dialogue and mediation. Only through concerted action, inclusive dialogue, and strict law enforcement can Rivers State build a future of peace and shared prosperity.
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Editorial

Democracy Day: So Far…

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Nigeria’s return to democratic rule in 1999 marked a watershed moment in the nation’s political history. After enduring nearly 16 years of successive military dictatorships, Nigerians embraced a new era of civil governance with the inauguration of President Olusegun Obasanjo on May 29, 1999. Since then, the country has sustained a democratic system for 26 years. But, this democratic journey has been a complex mix of progress and persistent challenges.
The formal recognition of June 12 as Democracy Day in 2018 by former President Muhammadu Buhari acknowledged a long-standing injustice. The annulment of the 1993 presidential election, Nigeria’s freest, betrayed the democratic aspirations of millions. That it took decades to honour this date reflects the nation’s complex relationship with its democratic memory.
One of the most momentous successes of Nigeria’s democracy has been the uninterrupted civilian rule over the last two and a half decades. The country has witnessed seven general elections, with power transferring peacefully among different political parties. This is particularly notable considering that prior to 1999, no civilian government had completed a full term without military intervention. The peaceful transitions in 2007, 2015, and 2023 are testaments to Nigeria’s evolving democratic maturity.
Electoral participation, while uneven, has also reflected a level of democratic engagement. In 2003, voter turnout stood at about 69 per cent, but this figure dropped to approximately 34.75 per cent in 2023, according to the Independent National Electoral Commission (INEC). Although the declining turnout raises concerns, it also highlights the increasing expectations of the electorate, who demand credible and transparent elections.
Another area of progress is the growth of a vibrant and free press. Nigerian media has played a crucial role in holding governments accountable and fostering public discourse. Investigative journalism and civil society activism have exposed corruption and human rights abuses. The rise of social media has further expanded the democratic space, enabling young Nigerians to mobilise and advocate for change, as evidenced by the 2020 #EndSARS protests.
Judicial independence has seen mixed results. On one hand, the judiciary has occasionally demonstrated resilience, such as in landmark rulings that overturned fraudulent elections or curtailed executive excesses. On the other hand, allegations of political interference and corruption within the judiciary persist, undermining public confidence in the legal system’s impartiality.
Nigeria’s democracy has also facilitated the decentralisation of power through the federal system. State governments now wield some autonomy, allowing for experimentation in governance and service delivery. While this has led to innovative policies in some states, it has also entrenched patronage networks and uneven development across the federation.
Despite these successes, Nigeria’s democratic journey faces formidable problems. Electoral integrity remains a critical concern. Reports from election observers, including those from the European Union and ECOWAS, frequently highlight issues such as vote-buying, ballot box snatching, and violence. The introduction of the Bimodal Voter Accreditation System (BVAS) and electronic transmission of results in 2023 elections showed promise, but technical glitches and alleged manipulations dampened public trust.
Corruption continues to be a pervasive issue. Nigeria ranks 145th out of 180 countries on Transparency International’s 2023 Corruption Perceptions Index, with a score of 25/100. Democratic institutions meant to check graft—such as anti-corruption agencies and the legislature—often struggle due to political interference and weak enforcement mechanisms.
Security challenges have also strained Nigeria’s democracy. Insurgency in the North East, banditry in the North West, separatist agitations in the South East, and herder-farmer conflicts across the Middle Belt have collectively resulted in thousands of deaths and displacements. According to the Global Terrorism Index 2024, Nigeria ranks as the eighth most impacted country by terrorism. The government’s difficulty in ensuring safety erodes public confidence in the state’s capacity and legitimacy.
The economy poses another critical remonstrance. Nigeria’s Gross Domestic Product (GDP) per capita stands at approximately $2,400 as of 2024, with over 40 per cent of the population living below the national poverty line. High unemployment and inflation have fueled discontent and disillusionment with democratic governance, especially among youth. Without addressing economic grievances, the democratic dividend will remain elusive for many Nigerians.
Ethnic and religious divisions further complicate Nigeria’s democratic consolidation. Politicians often exploit identity politics for electoral gains, exacerbating social tensions. Although federal character principles aim to promote inclusiveness, they have also sometimes fostered a quota mentality rather than merit-based appointments.
Gender representation remains inadequate in Nigeria’s democratic institutions. Women occupy less than 10 per cent of seats in the National Assembly, one of the lowest rates globally. Efforts to pass gender parity bills have faced stiff resistance, highlighting deep-seated cultural and institutional barriers to female political participation.
Civil liberties, while constitutionally guaranteed, are under threat. Crackdowns on protesters, restrictions on press freedom, and surveillance of activists reveal an authoritarian streak within the democratic framework. The controversial Twitter ban in 2021 exemplified the country’s willingness to curb digital freedoms, prompting domestic and international criticism.
The political crisis in Rivers State embodies broader democratic struggles. Attempts to control the state through undemocratic means expose weaknesses in federal institutions and the rule of law. Immediate restoration of democratic governance in Rivers State is vital to preserving Nigeria’s democratic integrity and institutional credibility.
Local governments remain under the control of state governors, depriving citizens of grassroots democracy. Last year’s Supreme Court judgment on local government autonomy is promising, but state-level resistance threatens its implementation. Genuine autonomy would bring governance closer to the people and foster democratic innovation.
As we mark Democracy Day, we must honour the sacrifices of Chief M.K.O. Abiola, Kudirat Abiola, Femi Falana, Chief Gani Fawehinmi, Pa Alfred Rewane, President Bola Tinubu, and countless others, who fought for Nigeria’s freedom. As democracy in Nigeria continues to evolve after 26 years, this day should inspire action toward its renewal. With despotism and state failure as real threats, both citizens and leaders must take responsibility—citizens by demanding more, and leaders by delivering. Excuses are no longer acceptable.

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