Editorial
Nigeria And Needless Imports
The Governor of Central Bank of Nigeria
(CBN), Mr. Godwin Emefiele, was
recently reported to have advised the Organized 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.
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INEC’s Threat Alert Deserves Urgent Attention
The Independent National Electoral Commission’s (INEC) disclosure of an alleged plot to target its ad hoc personnel ahead of the 2027 general elections demand urgent national attention. The reported arrest of suspects, with intelligence support from the Department of State Services (DSS), is encouraging, but must not breed complacency. Any attack on electoral workers threatens not only human lives but also Nigerians’ constitutional right to choose their leaders through credible elections. The alleged conspiracy must be thoroughly investigated, its sponsors identified and all those found culpable prosecuted.
Particularly troubling is the reported targeting of National Youth Service Corps (NYSC) members, who play a vital role in Nigeria’s electoral process. Many serve far from home and undertake sensitive assignments at polling units and other electoral locations. As civilians, they should not be exposed to intimidation, abduction or violence without adequate protection. If election workers are vulnerable, the safety of other officials, observers and voters cannot be guaranteed.
Nigeria’s electoral history offers painful lessons. Human Rights Watch reported in Nigeria’s Post-Election Violence, published in May 2011, that more than 800 people died in the violence following the 2011 general elections. NYSC members serving as electoral officials were among the victims. This tragedy underscores the deadly consequences of political tension, incitement and disputed outcomes. Nigeria must act on the latest warning before another preventable disaster occurs.
INEC deserves recognition for uncovering the alleged plot, while the DSS and other security agencies merit commendation for their reported assistance. However, arrests are only the beginning. Investigators must establish the suspects’ identities, motives, networks and intended targets, ensuring that evidence is admissible in court. The process must remain impartial and free from political interference. Credible public updates are also necessary, provided they do not compromise investigations or operational security.
The authorities must adopt a comprehensive, intelligence-led security strategy for 2027. INEC’s proposed security conference should produce practical measures developed in collaboration with the Inter-Agency Consultative Committee on Election Security (ICCES), the police, the DSS and other relevant agencies. Threat assessments should guide personnel deployment, secure transportation, emergency communications, evacuation procedures and rapid response. Protection must extend beyond polling day to the distribution of sensitive materials, collation centres and the safe return of ad hoc personnel.
Those who provide intelligence must also be protected from retaliation. Confidential reporting channels and appropriate safeguards should be established for informants and others assisting investigations. Equally, security deployments must not intimidate voters or facilitate political repression. Personnel should act professionally, impartially and proportionately, within the law. Clear mechanisms for reporting misconduct and investigating abuses are essential to maintaining public confidence.
The threat also highlights broader concerns about trust in the electoral system. The European Union Election Observation Mission’s June 2023 final report identified shortcomings in transparency and operational implementation during Nigeria’s 2023 general elections, alongside concerns about the legal framework and electoral dispute resolution. Credible elections require more than security; they depend on transparent procedures, accountable officials and consistent enforcement of electoral laws. INEC must demonstrate measurable progress in addressing previously identified weaknesses.
Voter apathy presents another challenge. INEC’s published figures indicate that approximately 25 million people voted in the 2023 presidential election, out of about 93.5 million registered voters, a turnout of roughly 26.7 per cent. Although insecurity is not the sole cause of low participation, threats against electoral personnel can heighten public anxiety and discourage voters from exercising their franchise. INEC should strengthen civic education, improve polling accessibility and communicate procedures clearly. Political parties, civil society and the media must promote peaceful participation and reject electoral intimidation.
Misinformation and manipulated digital content pose additional risks. False reports, fabricated announcements and deepfake videos can inflame tensions, impersonate officials and mislead voters. INEC should establish a well-resourced, rapid-response communication system supported by verified digital channels and timely public statements. Collaboration with credible media organisations and fact-checkers would help counter falsehoods without suppressing legitimate criticism. Clear, consistent communication is indispensable, as administrative confusion and delayed explanations often allow rumours to spread.
Electoral integrity must also begin within INEC itself. The chairman’s warning against partisanship, negligence, extortion and ethical misconduct deserves serious attention. Security measures cannot compensate for officials who abuse their positions or disregard established procedures. INEC should strengthen staff training, ensure transparent recruitment and deployment, provide secure channels for reporting misconduct and enforce disciplinary rules consistently. Allegations of bribery and political interference must be investigated regardless of rank, while ad hoc personnel should receive adequate briefing, support and prompt payment.
The legal framework also requires clarity and consistent enforcement. INEC should explain the precise provisions and applicability of Section 26 of the Electoral Act 2026, including the obligations of electoral officials and security personnel, and publish authoritative guidance on neutrality and professional conduct. Complaints by opposition parties that they have been prevented from campaigning in certain states must likewise be investigated impartially. Any established violations should attract appropriate corrective action. Electoral fairness requires not only impartial polling officials but also lawful campaigning, access to competing viewpoints and freedom from intimidation.
The alleged plot against INEC’s ad hoc personnel is a warning against complacency ahead of the 2027 general election. Governments, security agencies, INEC, political parties and civil society must work together to prevent violence, punish misconduct and protect citizens’ participation. The commission should communicate its security priorities, maintain accessible threat-reporting channels and provide periodic updates on preparedness. Nigeria’s democracy cannot be safeguarded by assurances alone; it requires demonstrable preparation, impartial law enforcement and an unwavering commitment to free, fair and credible elections.
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