Opinion
The Next Cabal
What if we are witnessing the formation of the next Cabal? What if President Buhari’s government and the cabal controlling it, as alleged by the First Lady, some time ago is only a dress rehearsal for what is to come in 2023? When it comes to coincidences, I am an agnostic, and I have never believed in arbitrariness. This position of mine was reinforced by a TV series I saw last year, titled, “Numbers”, which sharpened my mind to the extent that I am always on the lookout for hidden patterns in seemingly unrelated events. My major takeaway from that TV series was the idea that even the mud splatter on an object on the side of the road, coming from a poodle driven through by a fast-moving car, could be explained mathematically. Therefore, if one extrapolates this idea to our country, Nigeria, the so called chaos, and wanton killings and destruction in every part of the country are all interrelated to some degree. The patterns are evident, even with only a cursory look.
The patterns are already telling the story of our future; the future of a country in the stranglehold of a group of oligarchs. The telltale signs are everywhere for those who care to see. In Russia, Vladimir Putin and his cronies control everything, while the people are only allowed to pick up the crumbs. With all the brains Russian has, it is rare to find any major scientific or economic breakthrough coming out of Mother Russia. Even in International University Rankings, it is hard to see the best university in Russia ranking higher than their counterparts in China. As a result, the oligarchs send their children to universities in the west. In Nigeria, the oligarchs have destroyed the public primary and secondary school system, and they are now working very hard to sink the public universities while propping up their own private universities, which are now more than Federal and State universities put together. Meanwhile, all their children are in the best universities abroad. The relevance of this little narrative might seem farfetched, but this is exactly the current story of Nigeria; and the future is likely going to be worse, especially using the ASSU interregnum as a case study
The exorbitant cost of APC’s expression of interest and nomination forms have signaled the institutionalisation of corruption in Nigeria. It is unfortunate that this same party which gained ascendency in 2015 with the mantra of change, has indeed brought about earth-shaking changes, but not in the direction we envisaged. Buhari’s policies and body language could be felt in every nook and cranny of this country, not for upliftment, but for destruction.
In response to an array of criticisms, APCs National Chairman, Mr. Abdullahi Adamu, had said that the purpose of the skyrocketing cost of presidential forms was to weed out jesters who are only out to cause trouble. But, this line of thought or defense is lame, or an outright joke, because if we assume this to actually be the party’s position, then people like Dr. Chris Ngige, and other credible candidates who withdrew due to the N100 million price tag, are all jesters and trouble makers.
Most of the presidential candidates have claimed that their forms were bought by support groups. For instance, it was learned that the form of the CBN Governor, Mr. Godwin Emefiele, was purchased by rice farmers. Nigerians would want to know who these rice farmers are, how they are able to raise N100 million in the space of a month in our current economic climate; and maybe, what they intend to do now that Emefiele’s form was not returned.
To pacify Nigerians, the EFCC was in the news saying what the average Nigerian wants to hear. It claimed that it was going after the accounts of so-called form purchasers. But we already know it would amount to nothing. From the signs available, this is pure racketeering happening before our very eyes; and it has been orchestrated both by those in the open and those in the shadows, and almost everyone who purchased the APC presidential form is either a bonafide member of the next Cabal or is standing proxy for an interest group.
With the level of damage done to the country already, (some of them irreversible), the apprehension some of us are having, as we observe the formation of, and the possible installation of a new cabal is palpable. Some might think we are beside ourselves, but this is de Ja Vu. We were here in 2014 when we saw a mishmash of interest groups coming together, just for the purpose of grabbing power. That power was handed to a destructive force, called Buhari.
If we are to take our reading of the 2022 Electoral Act at face value, it means that all the underworldly behaviour we are used to during elections could now be a thing of the past. Consequently, if ballot box snatching and thuggery are now impossible; what other options are available to the APC oligarchs? Vote buying is the only possible option for APC after President Buhari had presided over the hemorrhaging of the country for seven years.
The 2023 election is actually a do-or-die affair in an existential sense for every cheated, exploited, attacked, and impoverished Nigerian, because if we get it wrong from either side of the aisle, be it APC or PDP, we are finished. Every Nigerian on the street knows what is at stake; therefore, the idea that APC has amassed a war chest in the neighborhood of N30 billion from the sales of forms alone should be an issue for concern. Again, N30 billion is a pittance, compared to how much has been stolen in that ministry where Buhari is the Minister. So much has been said about the Ministry of Petroleum and the NNPC, yet nothing has happened, in fact, based on the data presented to the National Assembly by the Auditor General of the Federation on the misappropriation, mismanagement, and misrepresentation of trillions of Naira by NNPC, and the latest suit brought against President Buhari’s Government by SERAP, challenging the N1.48 trillion spent between 2015 and 2020 on the maintenance of NNPC refineries with zero results, I am sincerely hoping that Saint Buhari would face the same fate as former Minister for Petroleum, Deziani Alison-Madueke, because under him as Petroleum Minister, NNPC has become the epicenter of corruption in Nigeria.
They have seen the handwriting on the wall; therefore they are leaving nothing to chance, but their war chest of trillions of Naira will fail them, because Nigerians will disappoint them, by rising with one voice to demand real change in 2023, they will dismantle both the old and the emerging cabal.
By: Raphael Pepple
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Opinion
Fuel Subsidy Removal and the Economic Implications for Nigerians
From all indications, Nigeria possesses enough human and material resources to become a true economic powerhouse in Africa. According to the National Population Commission (NPC, 2023), the country’s population has grown steadily within the last decade, presently standing at about 220 million people—mostly young, vibrant, and innovative. Nigeria also remains the sixth-largest oil producer in the world, with enormous reserves of gas, fertile agricultural land, and human capital.
Yet, despite this enormous potential, the country continues to grapple with underdevelopment, poverty, unemployment, and insecurity. Recent data from the National Bureau of Statistics (NBS, 2023) show that about 129 million Nigerians currently live below the poverty line. Most families can no longer afford basic necessities, even as the government continues to project a rosy economic picture.
The Subsidy Question
The removal of fuel subsidy in 2023 by President Bola Ahmed Tinubu has been one of the most controversial policy decisions in Nigeria’s recent history. According to the president, subsidy removal was designed to reduce fiscal burden, unify the foreign exchange rate, attract investment, curb inflation, and discourage excessive government borrowing.
While these objectives are theoretically sound, the reality for ordinary Nigerians has been severe hardship. Fuel prices more than tripled, transportation costs surged, and food inflation—already high—rose above 30% (NBS, 2023). The World Bank (2023) estimates that an additional 7.1 million Nigerians were pushed into poverty after subsidy removal.
A Critical Economic View
As an economist, I argue that the problem was not subsidy removal itself—which was inevitable—but the timing, sequencing, and structural gaps in Nigeria’s implementation.
- Structural Miscalculation
Nigeria’s four state-owned refineries remain nonfunctional. By removing subsidies without local refining capacity, the government exposed the economy to import-price pass-through effects—where global oil price shocks translate directly into domestic inflation. This was not just a timing issue but a fundamental policy miscalculation.
- Neglect of Social Safety Nets
Countries like Indonesia (2005) and Ghana (2005) removed subsidies successfully only after introducing cash transfers, transport vouchers, and food subsidies for the poor (World Bank, 2005). Nigeria, however, implemented removal abruptly, shifting the fiscal burden directly onto households without protection.
- Failure to Secure Food and Energy Alternatives
Fuel subsidy removal amplified existing weaknesses in agriculture and energy. Instead of sequencing reforms, government left Nigerians without refinery capacity, renewable energy alternatives, or mechanized agricultural productivity—all of which could have cushioned the shock.
Political and Public Concerns
Prominent leaders have echoed these concerns. Mr. Peter Obi, the Labour Party’s 2023 presidential candidate, described the subsidy removal as “good but wrongly timed.” Atiku Abubakar of the People’s Democratic Party also faulted the government’s hasty approach. Human rights activists like Obodoekwe Stive stressed that refineries should have been made functional first, to reduce the suffering of citizens.
This is not just political rhetoric—it reflects a widespread economic reality. When inflation climbs above 30%, when purchasing power collapses, and when households cannot meet basic needs, the promise of reform becomes overshadowed by social pain.
Broader Implications
The consequences of this policy are multidimensional:
- Inflationary Pressures – Food inflation above 30% has made nutrition unaffordable for many households.
- Rising Poverty – 7.1 million Nigerians have been newly pushed into poverty (World Bank, 2023).
- Middle-Class Erosion – Rising transport, rent, and healthcare costs are squeezing household incomes.
- Debt Concerns – Despite promises, government borrowing has continued, raising sustainability questions.
- Public Distrust – When government promises savings but citizens feel only pain, trust in leadership erodes.
In effect, subsidy removal without structural readiness has widened inequality and eroded social stability.
Missed Opportunities
Nigeria’s leaders had the chance to approach subsidy removal differently:
- Refinery Rehabilitation – Ensuring local refining to reduce exposure to global oil price shocks.
- Renewable Energy Investment – Diversifying energy through solar, hydro, and wind to reduce reliance on imported petroleum.
- Agricultural Productivity – Mechanization, irrigation, and smallholder financing could have boosted food supply and stabilized prices.
- Social Safety Nets – Conditional cash transfers, food vouchers, and transport subsidies could have protected the most vulnerable.
Instead, reform came abruptly, leaving citizens to absorb all the pain while waiting for theoretical long-term benefits.
Conclusion: Reform With a Human Face
Fuel subsidy removal was inevitable, but Nigeria’s approach has worsened hardship for millions. True reform must go beyond fiscal savings to protect citizens.
Economic policy is not judged only by its efficiency but by its humanity. A well-sequenced reform could have balanced fiscal responsibility with equity, ensuring that ordinary Nigerians were not crushed under the weight of sudden change.
Nigeria has the resources, population, and resilience to lead Africa’s economy. But leadership requires foresight. It requires policies that are inclusive, humane, and strategically sequenced.
Reform without equity is displacement of poverty, not development. If Nigeria truly seeks progress, its policies must wear a human face.
References
- National Bureau of Statistics (NBS). (2023). Poverty and Inequality Report. Abuja.
- National Population Commission (NPC). (2023). Population Estimates. Abuja.
- World Bank. (2023). Nigeria Development Update. Washington, DC.
- World Bank. (2005). Fuel Subsidy Reforms: Lessons from Indonesia and Ghana. Washington, DC.
- OPEC. (2023). Annual Statistical Bulletin. Vienna.
By: Amarachi Amaugo
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