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President Buhari And Traffic Rules: Matters Arising

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Obeying traffic rules in most Nigerian cites seems to be a herculean task for road users, as most motorists see it as time- wasting and in some cases, unnecessary.

It is somewhat commonplace to find motorists flouting traffic rules flagrantly even in the face of danger, as most of them are seemingly unaware of the import of traffic light, for instance, while others, who are seemingly aware of it, tend to disregard it.

Observers, however, heap the blame on traffic wardens and law enforcement agents who control traffic at various points for not apprehending motorists who flout traffic regulations.

They insist that the traffic officers ought to be more proactive in their approach to work.

They, nonetheless, believe that the country’s deteriorating traffic situation will be brought under control by the administration of President Muhammadu Buhari which was inaugurated on May 29.

Such expectations are hinged on the recent action of Buhari, who as president-elect on May 7, ordered all security personnel attached to him as well as his official escorts to obey traffic rules.

Perceptive analysts, however, insist that while the directive is commendable, it will be somewhat foolhardy for any president to give and sustain such an order.

Mr Akinwande Lewis, a lawyer, said that no matter how liberal Buhari wanted to be, he should be mindful of the implications of his directive on strict obedience of traffic rules by his security personnel and escorts.

“The president’s safety should not be toyed with; his security should be paramount and taken seriously. We should not forget the basic fact that not all Nigerians will love President Buhari and his policies,’’ he said.

However, Mr Ibrahim Paiko, another lawyer, said that the president’s gesture was merely symbolic, adding that his directive aptly signified that the days of impunity were gone.

“President Buhari’s action is, however, not strange, as he has all along been known as a ‘no-nonsense man’; other government officials should take a cue from his action and follow suit,’’ he said.

Malam Garba Shehu, the Senior Special Assistant (Media and Publicity) to the President, said that the order was a demonstration of Buhari’s leadership style.

He said that obedience to the law would be the guiding philosophy of the Buhari-administration because if there was no leadership by example, the citizens would be encouraged to emulate their leaders’ lawlessness.

Shehu’s sentiments appear logical, as Buhari has repeatedly said that arrogance of power, lawlessness and disregard for citizens’ rights would have no place in his government.

Buhari stressed that for leaders to garner’s the people’s respect, they must obey the laws, adding that whenever leaders treated the country’s laws with contempt, they would inadvertently send the wrong message to the citizens.

Buhari bemoaned a situation where citizens “are punished at traffic points and public roads because of the arrogant lawlessness of the leaders’’, insisting that such situation was totally unacceptable.

He reiterated that in a democracy, leaders ought to refrain from inflicting inconveniences and other unbearable ordeals on the citizens for their own comfort.

The president said that the security personnel attached to him must be in tune with his philosophy of “bringing the rule of law to bear on the conduct of leaders during their movements on public roads’’.

Nevertheless, Prof. Bolaji Akinyemi, a former Minister of External Affairs, rejected the president’s sentiments, insisting that his directive could be quite risky and inimical to the country’s interests.

In an open letter to Buhari when he was the president-elect, Akinyemi underscored the need for Buhari to take his personal security seriously in the overall interest of the country.

He called on Buhari to rescind his decision, saying that he should be very mindful of the current security threats facing the country.

He emphasised that there was nowhere in the world where the motorcade of a president or prime minister was subjected to traffic regulations.

Akinyemi recalled the events leading to the assassination a former Head of State, Gen. Murtala Mohammed, in 1976 in order to elucidate his viewpoint.

He said that Mohammed, who jettisoned the use of motorcade and security escorts, was gunned down by some coupists when his car was held up in traffic at a road junction in Obalende, Lagos.

“Nigeria and the world have become a more dangerous place than in 1976 when Gen. Mohammed was assassinated.

“You would also recall the attempt on your life just last year when your motorcade was attacked in Kaduna

“There is no country in the world where the motorcade of a president or prime minister or head of state is subject to traffic regulations.

“I have just watched the motorcade of the British Prime Minister on his way to Buckingham Palace; traffic was stopped and his outriders ensured that the motorcade was not impeded.

“It is not about your personal safety, it is about Nigeria’s national security. We cannot continue to take chances with the peace and stability of Nigeria and depend on God to bail us out.

“General, please reconsider your decision, not for your sake but for the sake of Nigeria,” Akinyemi added.

However, an Abuja-based lawyer, Prof. Akinseye George (SAN), picked holes in the ex-minister’s arguments, saying that by obeying traffic rules, Buhari would set a good precedent for all Nigerians.

He rejected Akinyemi’s reference to the Murtala assassination saga, saying that the killing, which took place during the military era, could never occur in a democratic setting.

He said that Buhari, by this action, had shown utmost respect for the rule of law, describing the action as a powerful signal to all Nigerians, particularly leaders and affluent citizens who were fond of violating traffic rules.

“This is good and laudable, it shows fidelity to the law; the directive is a sign of purposeful and exemplary leadership because one of the problems facing this country is that big men don’t obey the law,’’ he said.

George said that the era of impunity was gone, urging Nigerians to join hands together with Buhari in efforts to bring the country out of the doldrums.

Sharing similar sentiments, Mr Bamidele Fatai, a public affairs analyst, said that if the president obeyed traffic laws, all Nigerians would have no other option than to emulate him in that direction.

He argued that incidents such as Gen. Murtala’s assassination could be avoided if presidential motorcades were well-equipped so as to forestall any security breach.

Fatai, however, conceded that Gen. Murtala’s assignation represented one of the darkest chapters of Nigerian history but added that Nigerians would never allow such a dastardly act to occur again.

“I think the solution is in our leaders themselves, if they keep their promises and rule in line with the people’s expectations, such kinds of criminality would end.

“I know President Buhari is very wise; before he gave that directive, he would have weighed all the implications. We should just wish him success in his administration and agenda for this country,” he said.

Mr Jerry Obaseki, a political analyst, echoed Akinyemi’s viewpoint, insisting that heads of state and government everywhere in the world would never obey traffic regulations for glaring security reasons.

He, however, expressed the hope that the president’s National Security Adviser would warn him about the security implications of his decision to obey traffic regulations.

“We need the president alive to enable him to effect the positive changes we have been yearning for ever since Nigeria’s independence 55 years ago,’’ Obaseki said.

“We must not allow sentiments to becloud our judgment; detractors and fifth columnists are always around; the president should be aware of this fact and always strive to play safe, said Mr Kunle Ogunlesi, a banker.

“He should not allow his popularity to becloud his judgement in all the nation-building processes; his safety is important to all Nigerians,’’ he added.

All in all, analysts are of the view that President Buhari should always be conscious of the need to examine the security implications of all his actions, irrespective of their purpose or intent.

Ogunshola writes for News Agency of Nigeria (NAN)

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NCAA Certifies Elin Group Aircraft Maintenance

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The Nigerian Civil Aviation Authority (NCAA) has certified Elin Group Limited to operate as an approved aircraft maintenance organization (AMO).
Elin Group Limited confirmed the certification in a Statement released at the Weekend.
The Executive Director, Elin Group Limited, Engr. Dr. Benedict Adeyileka, noted the significance of the certification, stating that it recognizes the company’s commitment to upholding high maintenance standards.
Adeyileka also stated that “the issuance of the AMO Certificates and OPSPEC by the NCAA is a landmark for both Elin Group and Nigeria’s aviation industry. This approval empowers us to maintain our fleet and extend services to other operators, thereby supporting the sector’s growth.
“It affirms the standards we have upheld over the years and places on us the responsibility to expand services that strengthen the aviation ecosystem. We thank the NCAA for their confidence in our capabilities.
“This recognition inspires us to keep striving for excellence and innovation in building a stronger, safer, and more sustainable aviation industry.”
The certification follows the company’s recent completion of a 7,800 landings maintenance check on its Bombardier Challenger 604 aircraft and Agusta A109E helicopter.
This type of inspection, similar to a D-check in commercial aviation, was conducted entirely in Nigeria for the first time.
With the NCAA approval, Elin Group is authorized to maintain its own fleet and provide maintenance services to other operators.
The certification is expected to contribute to the growth of local aviation maintenance capabilities.
“PenCom Raises Capital Requirement For PFAs To N20b
…Sets December 2026 Deadline
The National Pension Commission (PenCom) has announced a sweeping revision to the capital requirements for Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs), raising the minimum threshold for PFAs tenfold, from N2 billion to N20 billion.
The move, aimed at strengthening financial stability and operational resilience, marks one of the most significant regulatory shifts in Nigeria’s pension industry in over two decades.
In a circular titled “Revised Minimum Capital Requirements for Licensed Pension Fund Administrators and Pension Fund Custodians”, PenCom stated that PFAs with Assets Under Management (AUM) of N500b and above must now maintain a capital base of N20 billion plus 1% of the excess AUM beyond N500 billion.
The revised capital requirements for both PFAs and PFCs would take effect immediately for new licenses, while existing operators have until December 31, 2026, to comply.
PenCom would monitor compliance every two years based on audited financial statements, and any shortfall must be rectified within 90 days.
PenCom emphasized that the review is anchored in Sections 60(1)(b), 62(b), and 115(1) of the Pension Reform Act (PRA) 2014. It aims to support the long-term viability of pension operators, improve service delivery, and ensure the sustainability of the Contributory Pension Scheme (CPS), which has now been in operation for 21 years.
“PFAs are therefore required to maintain adequate capital to sustain the achievements of the CPS, support ongoing pension reform initiatives, and deploy adequate resources to effectively fund operations,” PenCom stated.
PFAs with AUM below N500b are also required to meet the new N20 billion minimum. Special Purpose PFAs, such as NPF Pensions Limited, must hold N30 billion, while the Nigerian University Pension Management Company Limited is required to maintain N20 billion.
“The capital requirement was reviewed in line with global best practice, which ensures that capital is proportionate to the risk exposure of the Pension Fund Operator. The new model aligned the capital requirement with the Pension Asset Under Management (AUM) and Assets Under Custody (AUC) of the PFAs and PFCs respectively”, the circular stated.
For Pension Fund Custodians (PFCs), the minimum capital requirement has been raised from N2 billion, unchanged since 2004, to N25 billion plus 0.1% of AUC.
The Commission cited the exponential growth in assets under custody and the increasing complexity of operations, including technology deployment, cybersecurity, and staff welfare, as key drivers of the revision.
“The operating landscape of PFC business has evolved significantly over 21 years,” the circular noted. “These developments underscore the need to reassess the adequacy of the existing capital threshold to ensure continued financial stability and effective risk management”, it stated.
The announcement signaled PenCom’s commitment to aligning Nigeria’s pension industry with global standards, ensuring that operators are well-capitalized to navigate macroeconomic pressures and deliver secure retirement benefits to millions of Nigerians.
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SMEDAN, CAC Move To Ease Business Registration, Target 250,000 MSMEs

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The Corporate Affairs Commission (CAC) and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) are deepening partnership to ease business registration for small business owners in the country.
The agreement would provide the framework for free registration of 250,000 Micro Small and Medium Enterprises (MSMEs) across the country.
The Registrar-General, CAC, Hussaini Magaji, revealed this during the signing of a Memorandum of Understanding (MoU) between both organisations, in Abuja, at the Weekend.
Magaji said that the framework provided under the Renewed Hope Agenda of President Bola Tinubu’s administration would eliminate cost barriers by waiving all statutory fees.
According to him, entrepreneurs would now be able to obtain certificates seamlessly, without delays or middlemen, through the CAC portal.
He said, “Formalising a business is more than obtaining a certificate.
“It provides entrepreneurs with a legal identity, improves access to finance and markets, enhances record keeping and strengthens compliance with tax or regulatory obligations.
“For the government, it expands the tax base, improves policy design and reflects the two sides and contribution of our MSME sector.
“By formalising an additional 250,000 enterprises under this initiative, we are helping to create jobs, foster innovation and build a more inclusive economy,” he said.
The registrar-general, while commending SMEDAN on the partnership, urged the MSMEs to take advantage of this opportunity to formalise their businesses, access new opportunities and become part of Nigeria’s growth story.
Magaji also appealed to the media to Partner in amplifying this message to ensuring that every deserving entrepreneur is carried along.
On his part, the Director-General of SMEDAN, Charles Odii, hailed the initiative as a milestone for small businesses, describing it as one of the “big wins” of the current administration.
Odii explained that SMEDAN would mobilise, profile and guide eligible businesses for registration through its dedicated online portal.
He insisted that the platform would eliminate the role of middlemen, who previously inflated registration costs, sometimes charging between N30,000 and N100,000 against the official CAC rate of about N11,000.
Odii said the initiative would complement the President’s N200 billion economic assistance programme, which provides N50 billion in grants for nano businesses, N75 billion in single-digit loans for SMEs and N75 billion for manufacturers.
He said that the interventions demonstrated the resolve of government to ease the cost of doing business and expand opportunities for entrepreneurs.
The director-general said that the MoU was timely, especially as CAC prepared to review its fees by October, reiterating that the initiative ensures 250,000 businesses will benefit from free registration before the review.
According to Odii, many businesses collapse within their first five years due to a lack of structure, noting that registration was the first step to building resilience.
The SMEDAN boss assured that beyond registration, SMEDAN would continue to support entrepreneurs through business clinics, advisory services and linkages.
He said this would be done in collaboration with other agencies such as the Standards Organisation of Nigeria (SON) and the Nigerian Export Promotion Council (NEPC).
Odii also commended the President’s move to raise the tax exemption threshold for small businesses with N25 million to N50 million annual turnover, saying it will reduce the burden on enterprises and encourage compliance.
He thanked the Registrar-General of CAC, the Federal Ministry of Industry, Trade and Investment and the Chief of Staff to the President for their support in bringing the initiative to fruition.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

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Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.

Coordinating Minister of the Ministry,
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
The Permanent Secretary of the ministry, Olufemi Oloruntola, stressed that the funding gap  must be closed to move from policy to practice.

“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.

He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.

Oloruntola argued that the sector’s potential goes beyond trade, pointing to the surge of diaspora spending every festive season. With the right coastal infrastructure, he said, the marine economy could capture a slice of those inflows as foreign exchange and revenue.

The Chief Executive, Nigerian Exchange (NGX), Jude Chiemeka, said blue bonds, which are loans raised through the capital market, but tied specifically to projects that protect or develop marine projects, could unlock huge sums of much-needed capital.

He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”

The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.

Seychelles, he pointed out, raised $15 million from a blue bond to support its fisheries industry, a scale Nigeria, with over 853 km of coastline and significant freshwater bodies, could surpass.

Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.

“Even the most innovative financial tools and private investments require a solid public funding base to thrive.

“We therefore call on the relevant authorities, most especially the National Assembly, to prioritise the marine and green economy sector.”

“Nigeria must match ambition with resources” and “strategy into execution”, he said

It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.

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