Opinion
Investment: Aganga’s Tough Challenges
In Nigeria, the masses of the people are poor and live most of their lives in debt. And most of the power elite, contractors, and their cronies who have large resources are obsessed with conspicuous consumption-taking fat salaries, driving big cars, dressing expensively, living in palatial homes, and jollying and junketing all over the world-saving little or nothing for investment in the country.
In the face of the deficiency of private saving and investment in the country, the burden of raising the requisite funds to finance the nation’s socio-economic development therefore rests squarely on government. But despite the country’s enormous natural resources, no administration has been able to rise to this challenge.
On the African continent, Nigeria has the most envious economic profile. It has an area of over 923,773 square kilometers, the largest single geographical unit along the West Coast of Africa and a population of about 140,000,000 based on the 2006 census, the largest in Africa. It has friendly climate and fertile land, the sine qua non for agricultural production. Nigeria is about the 6th largest producer of crude oil and gas in the world. It is also a leading world producer of coal, tin, and columbite.
In his speech on Nigeria’s 51st Independence Anniversary, President Goodluck Ebele Jonathan said : “… Our GDP is today one of the fastest growing in Africa. We are currently growing the economy at 7.8 per cent. We expect to sustain an 8 per cent growth rate and a better GDP in the medium term, on our journey towards realising our Vision 20: 2020 goal”.
But the pertinent questions are: What is our Gross National Saving? What is the Gross Domestic Investment as per centage of the Gross Domestic Product (GDP)? And what socio-economic benefits or opportunities have accrued to the people from the fast growing GDP?
The truth is that not much of the national income can be saved for future investment in the face of the country’s socio-economic quagmire. Why? Because it is difficult to cut down on the country’s current expenditure; and it is also difficult to persuade the poor masses to pay more taxes.
Yes, the long arm of government has reached out to every sphere of life in the country – notably roads, public health, water, education, security, and electric power supply – but the persistent decay of our infrastructure, insecurity, corruption, and poor regulatory environment have continued to drain both private and public savings in Nigeria. And over the years, the willingness of the people to pay taxes has been eroded by their discontent at public stewardship resulting from the corrupt and directionless disposition of some government functionaries.
With the low level of public and private domestic savings and investment and the failure of public sector reforms including privatisation and commercialisation of government enterprises to enhance the country’s economic expansion, Nigerian government has been focusing on policies that would attract foreign investors. For instance, the federal government has given approval for genuine foreign investors coming to Nigeria to receive their visas on arrival and promised to remove any barrier that will impede their effective and efficient operations in the country.
The federal government believes that with these efforts, its 20: 2020 dream by which the country is expected to invest N34 trillion in growth areas in the next four years will be realised. According to the Vision 20:2020 document, the federal government, state governments, and the private sector (both local and international) are expected to account for N10 trillion; N9 trillion, and N15 trillion investments respectively.
Apparently, with the enthusiasm of the Minister of Trade and Investment, Dr. Olusegun Aganga, to brighten up the investment climate of the country, Nigerians are looking forward to solutions to the intractable problems of unemployment, poverty, and other dispiriting situations which investments are supposed to tackle.
But for Dr. Aganga to actualise his mandate to lead the nation’s investment drive, he must be prepared to face the country’s developmental challenges some of which are insecurity, poverty, corruption, and poor infrastructural facilities, especially electric power supply.
With the power supply crisis becoming chronic, the problem is not only that many organisations are reducing their operations but that establishments which are very strategic to the development of the nation are relocating to other countries. Nigeria requires 10,000 mega watts (MW) to sustain its economy. But the 6,000 MW of electricity target which was set to be achieved by the end of 2009 is still a mirage.
Indeed, the investment challenges facing the nation are complex and tough and must be confronted on serval fronts. The federal government has to maintain a consistent policy on investment, and deal decisively with the nagging problem of infrastructure in the country.
There is also the urgent need for Dr. Aganga to consult widely with stakeholders across the various sectors of the economy and create motivation for saving and investment. This should involve eliciting from the haves in our soceity the consciousness of diverting resources from current consumption needs and investing them in capital formation.
Savings channels in Nigeria include, commercial banks, the National Provident Fund, and premium bonds. Dr. Aganga must work in collaboration with these channels to reduce, if not eliminate, the red tape which characterises savings administration in the country.
Dr. Aganga’s vision for investment in the country looks supercilious but whether or not he would be able to animate it in the face of tough developmental challenges which have encumbered the nation’s economy only time will tell.
Opinion
Wike VS Soldier’s Altercation: Matters Arising
The events that unfolded in Abuja on Tuesday November 11, 2025 between the Minister of the Federal Capital Territory, Chief Nyesom Wike and a detachment of soldiers guarding a disputed property, led by Adams Yerima, a commissioned Naval Officer, may go down as one of the defining images of Nigeria’s democratic contradictions. It was not merely a quarrel over land. It was a confrontation between civil authority and the military legacy that still hovers over our national life.
Nyesom Wike, fiery and fearless as always, was seen on video exchanging words with a uniformed officer who refused to grant him passage to inspect a parcel of land alleged to have been illegally acquired. The minister’s voice rose, his temper flared, and the soldier, too, stood his ground, insisting on his own authority. Around them, aides, security men, and bystanders watched, stunned, as two embodiments of the Nigerian state clashed in the open.
The images spread fast, igniting debates across drawing rooms, beer parlours, and social media platforms. Some hailed Wike for standing up to military arrogance; others scolded him for perceived disrespect to the armed forces. Yet beneath the noise lies a deeper question about what sort of society we are building and whether power in Nigeria truly understands the limits of its own reach.
It is tragic that, more than two decades into civil rule, the relationship between the civilian arm of government and the military remains fragile and poorly understood. The presence of soldiers in a land dispute between private individuals and the city administration is, by all civic standards, an aberration. It recalls a dark era when might was right, and uniforms conferred immunity against accountability.
Wike’s anger, even if fiery, was rooted in a legitimate concern: that no individual, however connected or retired, should deploy the military to protect personal interests. That sentiment echoes the fundamental democratic creed that the law is supreme, not personalities. If his passion overshot decorum, it was perhaps a reflection of a nation weary of impunity.
On the other hand, the soldier in question is a symbol of another truth: that discipline, respect for order, and duty to hierarchy are ingrained in our armed forces. He may have been caught between conflicting instructions one from his superiors, another from a civilian minister exercising his lawful authority. The confusion points not to personal failure but to institutional dysfunction.
It is, therefore, simplistic to turn the incident into a morality play of good versus evil.
*********”**** What happened was an institutional embarrassment. Both men represented facets of the same failing system a polity still learning how to reconcile authority with civility, law with loyalty, and service with restraint.
In fairness, Wike has shown himself as a man of uncommon courage. Whether in Rivers State or at the FCTA, he does not shy away from confrontation. Yet courage without composure often feeds misunderstanding. A public officer must always be the cooler head, even when provoked, because the power of example outweighs the satisfaction of winning an argument.
Conversely, soldiers, too, must be reminded that their uniforms do not place them above civilian oversight. The military exists to defend the nation, not to enforce property claims or intimidate lawful authorities. Their participation in purely civil matters corrodes the image of the institution and erodes public trust.
One cannot overlook the irony: in a country where kidnappers roam highways and bandits sack villages, armed men are posted to guard contested land in the capital. It reflects misplaced priorities and distorted values. The Nigerian soldier, trained to defend sovereignty, should not be drawn into private or bureaucratic tussles.
Sycophancy remains the greatest ailment of our political culture. Many of those who now cheer one side or the other do so not out of conviction but out of convenience. Tomorrow they will switch allegiance. True patriotism lies not in defending personalities but in defending principles. A people enslaved by flattery cannot nurture a culture of justice.
The Nigerian elite must learn to submit to the same laws that govern the poor. When big men fence off public land and use connections to shield their interests, they mock the very constitution they swore to uphold. The FCT, as the mirror of national order, must not become a jungle where only the powerful can build.
The lesson for Wike himself is also clear: power is best exercised with calmness. The weight of his office demands more than bravery; it demands statesmanship. To lead is not merely to command, but to persuade — even those who resist your authority.
Equally, the lesson for the armed forces is that professionalism shines brightest in restraint. Obedience to illegal orders is not loyalty; it is complicity. The soldier who stands on the side of justice protects both his honour and the dignity of his uniform.
The Presidency, too, must see this episode as a wake-up call to clarify institutional boundaries. If soldiers can be drawn into civil enforcement without authorization, then our democracy remains at risk of subtle militarization. The constitution must speak louder than confusion.
The Nigerian public deserves better than spectacles of ego. We crave leaders who rise above emotion and officers who respect civilian supremacy. Our children must not inherit a nation where authority means shouting matches and intimidation in public glare.
Every democracy matures through such tests. What matters is whether we learn the right lessons. The British once had generals who defied parliament; the Americans once fought over states’ rights; Nigeria, too, must pass through her own growing pains but with humility, not hubris.
If the confrontation has stirred discomfort, then perhaps it has done the nation some good. It forces a conversation long overdue: Who truly owns the state — the citizen or the powerful? Can we build a Nigeria where institutions, not individuals, define our destiny?
As the dust settles, both the FCTA and the military hierarchy must conduct impartial investigations. The truth must be established — not to shame anyone, but to restore order. Where laws were broken, consequences must follow. Where misunderstandings occurred, apologies must be offered.
Let the rule of law triumph over the rule of impulse. Let civility triumph over confrontation. Let governance return to the path of dialogue and procedure.
Nigeria cannot continue to oscillate between civilian bravado and military arrogance. Both impulses spring from the same insecurity — the fear of losing control. True leadership lies in the ability to trust institutions to do their work without coercion.
Those who witnessed the clash saw a drama of two gladiators. One in starched khaki, one in well-cut suit. Both proud, both unyielding. But a nation cannot be built on stubbornness; it must be built on understanding. Power, when it meets power, should produce order, not chaos.
We must resist the temptation to glorify temper. Governance is not warfare; it is stewardship. The citizen watches, the world observes, and history records. How we handle moments like this will define our collective maturity.
The confrontation may have ended without violence, but it left deep questions in the national conscience. When men of authority quarrel in the open, institutions tremble. The people, once again, become spectators in a theatre of misplaced pride.
It is time for all who hold office — civilian or military — to remember that they serve under the same flag. That flag is neither khaki nor political colour; it is green-white-green, and it demands humility.
No victor, no vanquish only a lesson for a nation still learning to govern itself with dignity.
By; King Onunwor
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