Opinion
Leakages In Nigeria’s Economy
An article with the above title was first published on Monday September 20, 2021, but a need to revisit the topic arose from The Tide front page headline: Nigeria’s Economy On Brink of Collapse, NECA Alerts; (8/8/2022. The alert raised by the Nigeria Employers’ Consultative Association (NECA) was not different from a similar surprise expressed long ago by a former head of state, General Ibrahim Babangida, about the resilience of the Nigerian economy. Surely the abuses, bashings and buffeting on the economy have been such that anyone would wonder how the nation is still able to survive. It is a delight, however, that the glaring signs of an imminent collapse are spreading faster and wider, such that even wolves themselves also join in crying wolf. How did we get to this point of economic haemorrhage! There is no way that current state of Nigeria’s economy would be examined without pointing fingers at the role of past military regimes, especially between 1970 – 1999, in the nation’s political economy. Neither would anyone deny an allegation of scrambles for the oil and gas resources, through oil block allocation during that period. Oliver Goldsmith in a poem titled The Lost Galleon said: “Ill fares the land, to hastening ills, a prey; where wealth accumulates, but men decay”.
A high-ranking military officer, now late, once said in a private conversation regarding “Abacha Loots: “Can we sacrifice our lives to keep Nigeria one, and not seek for a reward, especially for those of us who survived the war?” Reluctant to leave the arena of politics, the military designed a constitution whose excrescences account for current Nigeria’s political economy.Euphoria of getting rid of military regimes accounts for why discerning Nigerians who knew implications of the military package of 1999, allowed a sleeping dog to lie. Today, it is obvious to some Nigerians that the National House of Assembly which includes the Senate, was designed as a stumbling block to changes. From possible impeachment of a president, to an approval of proposed Bills connected with the oil and gas industry, any discerning Nigerian can see political and economic shenanigans designed by professional strategists. Is it today, a few months to a change of tenure, that an impeachment fever would become most acute? Were there not some grounds for impeachment long ago that were ignored? Current debt burdens hanging on the neck of the Nigerian nation are so heavy that the nation is listed among the first three most indebted nations on earth. Yet Nigeria was such a “father-Christmas” that huge donation in cash or cars could be made to a neighbouring country, purportedly to boost border security, when the masses are groaning because of hunger and insecurity.
More borrowing is being proposed as well as a hint of possible shrinking of the civil service, by encouraging workers to retire at the age of 50. Those earning N30,000 as monthly salary are already gittery, groaning. Corruption is a malfeasance common in Nigeria, whose mechanism includes abuses and taking undue advantages of public trust, confidence, mass ignorance, docility of the people and loop-holes in the society, even by those meant to protect the citizens. Such opportunistic tendencies have evolved to an entrenched parasitism, whereby Nigerians are at the mercy of smart and smooth operators, including monsters in clerics’ clothings. Nothing too sacred to be abused and exploited! Director-General of the Nigerian Employers’ Consultative Association (NECA), Mr. Wale Oyerinde, would tell us that the economy is under the weight of an almost comatose aviation sector, stuttering education system, rising debt, depleting Foreign Reserve, etc. There had been gossips about how recovered loots were re-looted by those who recovered them, and of how the lawyers involved in such cases smiled happily to their banks. There are gossips also about state governors being on pension for life after 8 years official tenure, even when they become senators or hold other appointments. Are there ex-military radicals and agitators being paid some huge allowances monthly to make them stay calm rather than “rock the boat” or disturb the polity? The status quo must remain!
Senator Shehu Sani once disclosed what scandalous allowances that Nigerian Senators collect monthly, even when their official salary is N700,000 only. As for State Governors, everything they live on is paid from public taxes, whereas security vote for each of them is as scandalous as the allowances associated with political office holders. Profligate spending on local and foreign travels both for official and private purposes take a huge chunk of the nation’s revenue. Free fuel consumption by political office holders is a part of rising fuel subsidy expense. With oil and gas as major sources of national income, that same sector of the economy is also the major theatre of revenue leakages. Despite the enactment of the Petroleum Industry Act recently, it cannot be said that the shenanigans and malfeasance associated with the oil and gas sector have been addressed satisfactorily and transparently. Someone asked a vital question recently: “Why is the Kyari man still there in a privatised NNPC?” Whose interest is he protecting? Current value and exchange rate of the naira are not only alarming but also point towards some flaws in the Nigerian economy. If a public notary as late Captain Elechi Amadi, could say that the Nigerian nation does not place value on naked honesty, personal sacrifices and hardwork, can anyone not add that value is rarely given to patriotism?
Among the class of citizens most guilty in the causes of leakages in the nation’s economy, the elite count first, especially political office holders. Talk about unpatriotic attitude towards the groaning masses, Nigerian politicians stand tall. Talk about tax evasion and sharp practices in the political economy, political and economic elite are the smoothest operators. Neither can you beat them! Yet who are the worst victims and major burden bearers of a mis-managed economy, unemployment, poverty, insecurity, job losses, hunger and squalor? Surely, the helpless masses are the foremost. Current state of insecurity arising from activities of bandits and terrorists, surely undermine farming activities seriously. One of the results is that rural dwellers and traditional occupations have been systematically dislodged and placed in gross jeopardy. Ban on open grazing? It is not a hate speech to say that there is a bleak future for Nigeria, if current situations continue. Neither would it be correct to hold the groaning masses as being responsible for the leakages in the nation’s economy. Under the present sad conditions, would Nigerian masses be asking too much by telling their political leaders and over-lords to cut down their earnings and allowances by 50 percent, so that Nigeria may survive?
By: Bright Amirize
Dr Amirize is a retired lecturer, Rivers State University, Port Harcourt.
Opinion
Professor Kamene Okonjo: A Life Beyond Motherhood
Quote “Professor Kamene Okonjo
Some women leave behind more t
Yet, to remember Professor Kam
Professor Okonjo was the belov
one of the most dramatic chapt
On December 14, 2012, the then
She leaves behind children, gr
Professor Kamene Okonjo deserv
By: Sylvia ThankGod-Amadi
Opinion
On Ancestrial Worship: My Take
Quote: An African who invokes
This is the concluding part
… Given the fact that I was
At the end of the visit by the
Back to my apartment, at abo
Under normal circumstances, yo
That all she asks is that Chie
For some reason that I do not
I believe that everyone in hu
Our ancestors have not gone fa
By: Jason Osai
Opinion
FG’s Transport Support And Rivers Workers
The Federal Government’s approval of a N70,000 monthly transport intervention for public service workers for six months, beginning in November 2026, offers hope to employees struggling with the rising cost of living. The agreement with the Nigeria Labour Congress (NLC), reached at a conciliation meeting in Abuja on October 27, is intended to cushion transport costs and ease pressure on workers’ incomes. But for public servants in Rivers State, it raises a familiar question: will the State Government key into the intervention and ensure that its workers benefit? The agreement provides for N70,000 monthly across all levels, for six months. The Federal Government also approved peculiar allowance arrears effective from May 1, 2026, to be paid in three equal instalments beginning in November.
The parties agreed to reconvene after one month to assess implementation. Ultimately, the value of these resolutions will be measured not by announcements but by whether eligible workers receive the money. Transport costs consume a substantial share of many civil servants’ earnings before they can meet household needs. Support for commuting is therefore not a luxury or political favour; it is temporary assistance to help workers remain at their jobs without sinking further into hardship. For lower-paid employees, transport costs can turn modest salaries into a daily exercise in difficult choices and sacrifice.
The agreement also urges State and Local Governments to participate and unions to press for implementation. The federal agreement does not automatically guarantee that every State and Local Government employee will receive the support. State authorities must clarify how it will apply to their workforce, make the necessary arrangements and publish a payment timetable. Rivers State must approach the arrangement with urgency and transparency. The Government should State whether it will implement the intervention and when payments will begin. Any administrative or financial question should be addressed promptly with organised labour, not allowed to become excuses for delay.
The concern is sharpened by the earlier N35,000 monthly wage award introduced by the Federal Government in 2023 after petrol subsidy removal. It was intended as temporary relief pending a new national minimum wage. While several States negotiated and paid wage awards or related sums, implementation nationwide was uneven. Reports in 2024 indicated that many States had failed to pay the federal award, while others provided different amounts. In Rivers, labour and media reports raised concerns about implementation of the N35,000 award for State workers, amid separate announcements and arrangements concerning Local Government employees.
The wage award was meant to ease the immediate effects of subsidy removal, yet workers faced uncertainty over whether the promised relief would reach them. In February 2024, the Rivers State Government announced approval of the N35,000 award for local government workers, but subsequent reports showed that implementation across worker categories remained a concern. The lesson is clear: approval and implementation are not the same. A declaration at a meeting offers little comfort to a worker whose account does not reflect the promised payment. For workers who travel to their offices daily, the implications of delayed support are significant. Transportation expenses compete with food, rent, school fees, healthcare and other essential household needs.
As fares rise, employees may be forced to reduce spending on necessities or borrow to sustain their families. A timely transport intervention would therefore provide practical relief and demonstrate that government understands the economic pressures confronting its workforce. Its temporary nature makes prompt implementation even more important. It is fair to acknowledge that this transport intervention is a new agreement and that its administrative details may require clarification. Rivers State should not be condemned in advance for a failure that has not occurred. Nevertheless, the earlier experience gives workers legitimate grounds to seek assurances before the November commencement date. The State should avoid allowing uncertainty to persist until workers begin asking why the promised assistance has not arrived.
The NLC and unions in Rivers State should engage the State Government immediately and seek a written commitment, an implementation plan and a process for reporting missed payments. If clarification from the Federal Government is needed, the State should seek it without abandoning the goal of providing relief. Labour leaders must also keep members informed about progress and insist that any agreed arrangements are applied fairly and transparently. The Rivers State Government should treat this intervention as an opportunity to rebuild confidence. Timely support would show that workers’ welfare is more than a talking point and that the State recognises the economic realities confronting its employees.
Silence, delay or selective implementation, by contrast, would revive frustration over earlier relief measures and weaken trust between government and labour. Every month lost to administrative delay leaves workers facing the same transport burden without the intended assistance. The State should consult labour, publish arrangements and pay eligible workers on time. Rivers workers should not have to wonder whether federal relief will reach them. The Federal Government has announced the support; now the State must make its position clear. We hope the N70,000 monthly transport intervention will not follow the troubling path of the earlier wage award. Rivers State should learn from that experience and ensure that this time, relief is not merely promised but delivered.
Sylvia ThankGod-Amadi
-
Rivers3 days ago
Don Seeks Repositioning Of Tech Education For Dev
-
Education4 days agoPAMO MEDICAL UNIVERSITY -Nullifies Arrest warrant on VC
-
Niger Delta4 days ago
PANDEF Seeks 50% Oil Derivation Allocation Increase
-
Education4 days agoIAUE MOVES TO END GHOST WORKERS SYNDROME AS 400 NEW NON-TEACHING STAFF UNDERGO MANDATORY ETHICS TRAINING
-
News4 days agoFresh Ebola Scare As NCDC Records Two Cases
-
News4 days ago
Customs Partners EFCC, NDLEA, Others To Tackle Money Laundering, Terrorism Financing
-
Politics3 days ago2027: RIVERS GUBER CANDIDATES SIGN CHARTER TO PRIORITIZE CITIZENS’ DEMANDS
-
Politics4 days ago2027: South-East Govs Insist On Tinubu’s Re-election
