Connect with us

Opinion

President Tinubu at 72: Leadership in challenging times

Published

on

By Tunde Rahman

Today is President Bola Tinubu’s 72nd birthday. Instead of rolling out the drums to celebrate the day, the President directed there should be no celebration of any kind, including placing newspaper, radio or television advertorials in his honour. He urged anyone wishing to do such for him to donate the money to charity organisations. The decision was taken in deference to the present challenging times. It is a mark of good leadership for a leader worthy of that name to have compassion for the people, identify with them and demonstrate he shares in their pain. Showing empathy for the people and the emotional intelligence of identifying with the weak and vulnerable are in President Tinubu’s DNA. This character trait has become a remarkable feature of his birthdays over time.

In March 2020, on the cusp of his 68th birthday, he cancelled his birthday colloquium over the outbreak of coronavirus, explaining that the decision was important amid the overriding public concern over the pandemic.

What happened in respect of his 70th birthday on March 29, 2022 was even more touching. He called off an impressive birthday colloquium, right in the middle of the event at Eko Hotel & Suites, Lagos with all the dignitaries in attendance, to honour victims of Abuja-Kaduna train attack. And last year, even after he had convincingly won the February 25, 2023 election, President Tinubu did not celebrate his birthday, saying he would devote the moment for reflection on the huge task ahead.

This year’s birthday is the first by President Tinubu on the saddle. His administration is in its 10th month. This period, therefore, offers a veritable opportunity to interrogate his personae, character and administration thus far. There is little doubt that the time we are in is a challenging one indeed.

On assumption of office, the President was greeted by a dire economic situation; the economy almost prostrate. The bold reforms the President instituted, notably the removal of the ruinous fuel subsidy and the unification of the multiple, even dubious foreign exchange rates, though bold and necessary decisions applauded by economic experts, did not immediately produce salutary outcomes. The policies jacked up foreign exchange rates, with consequential serious impact on other sectors. With that, the cost of petroleum products particularly Premium Motor Spirit and diesel went up with its attendant effects on transport fares. Prices of goods and services particularly staple food items also skyrocketed including prices of other items not dependent on foreign exchange. Inflation rose, hitting 31.70 percent in February from 29.90 percent recorded in January 2024, according to the National Bureau of Statistics.

However, it’s no longer a depressing story. A combination of courage and determination to change the tide on the part of the President, the employment of the right calibre of economic managers who deployed the right fiscal and monetary policies and perhaps a dose of good fortune helped to gradually change the downward economic curve. As President Tinubu would now say, the headwinds are already giving way and there is light at the end of the tunnel. This heartwarming development is evident enough, but I will soon return to elaborate on the issue.

It is important and relevant to point out that President Tinubu is no stranger to this kind of trajectory in his chequered political career. As Governor of Lagos State (1999-2007), his administration was off to a bumpy start with security issues rearing their ugly heads, roads littered with potholes and heaps of refuse taking over the Lagos landscape, amid poor revenue. There was also the protracted crisis between his administration that inherited a practically insolvent economy and the trade unions as a result of the initial inability to pay the then new National Minimum wage of N7,500. The Tinubu administration confronted all of that and many more crises headlong, successfully altered the situation and left behind important milestones at the end of his tenure.

Writing in his insightful column “Illuminations” on March 16, Segun Ayobolu, surmised that it would appear that President Tinubu thrives more when confronted with crises that compel him to draw on his inner psychological, spiritual and strategic political resources to navigate treacherous terrain and come out triumphantly again and again. “For instance at the end, in 2007, of his eight-year tenure as governor in Lagos State, the mega city had evolved into a bastion of security of lives and property, rapid infrastructural transformation, and provision of social services especially to the vulnerable segments of the population.”

Perhaps the trajectory of the Tinubu administration in the unfolding Nigerian story in the Fourth Republic is following that route. The initial seemingly gloomy situation is gradually giving way. Indeed, light is not only assured at the end of the tunnel, it is presently beginning to shine brighter and brighter through the tunnel. There is plenty of evidence for this as I previously indicated.

For instance, naira has continued its streak of rebound and steady appreciation. The Nigerian currency had gained considerably against the dollar with the exchange rate standing around N1,200 to $1 on Wednesday as I was rounding off this piece. The Green Back is expected to fall even further following the decision of the Central Bank of Nigeria, through a circular on Monday, to offer $10,000 to each eligible Bureau De Change operators at N1,251/$1 with a directive that they sell to eligible end users at a spread of not more than 1.5% above the purchase price. This is likely to impact the prices of many  products.

And to further tighten liquidity in the country and shore up the value of the Naira, the CBN Monetary Policy Committee, at the end of its second meeting in 2024, raised the monetary policy rate by 200 basis points from 22.75 percent to 24.75 percent. The Cash Reserve Ratio, CRR, and Liquidity ratio were retained at 45 percent and 30 percent respectively.

There are other developments and unprecedented data on the economic front indicating the country is turning the corner. One is the marked improvement in the value of capital importation into the country, which NBS put at 66 percent, while the recent clearance of the backlog of foreign exchange by the CBN, demonstrating a new regime of trust and confidence at the apex bank, which should help push down high air transport fares in the country, is another.

Additionally, the country’s external reserves increased by $347.53 million to $34.11billion as at March 7, 2024 from $33.016 billion it was on January 2, 2024, recording a 2.83 percent year-to-date accretion following inflows from foreign capital and remittances.

Perhaps more remarkable is the courage, political will and personal commitment to effecting a change and improving the quality of life of the people in line with his Renewed Hope Agenda that President Tinubu has brought to the fore. This shone brilliantly in his handling of hydra-headed problems. This determination and taking bold decisions, in my view, are contributory factors in the changing Tinubu governance narrative.

Take for instance the recent abduction of 137 schoolchildren from a school in Kuriga, Kaduna State. The President categorically ruled out paying ransom for the release of the children from the hold of the bandits. Mercifully, they were released through the collaborative efforts of the Federal and State Governments and their security agencies. Paying ransom is akin to giving ammunition to the bandits to acquire more sophisticated weapons for their evil activities.

To speedily effect changes in the country’s security architecture to enhance safety of lives and property, the President,  working in collaboration with the state governments, has set up a high powered committee to draw up modalities for the introduction of state police. Last week, Vice President Kashim Shettima asked states which are still dragging their feet on the issue to urgently submit their proposals so that necessary legislation could be forwarded to the National Assembly towards this objective.

There is also the Pulaku initiative, a non-kinetic effort aimed at addressing the root causes of farmer-herder conflicts and fostering national unity. President Tinubu quickly ordered the release of N50 billion as operational fund for its immediate take off. The initiative, expected to revitalise the communities through the construction of residences, roads, schools, and essential facilities, will initially focus on seven states that have been disproportionately affected by farmer-herder conflicts. They are Sokoto, Kebbi, Benue, Katsina, Zamfara, Niger, and Kaduna States.

In this regard, shortly after the removal of the fuel subsidy, the Tinubu administration released a first tranche of N2 billion each to the 36 state governments and the Federal Capital Territory to provide palliatives to ease the pains of their people as a result of the economic reforms. The President also recently urged state governments to seize the opportunity of increased Naira revenues from the Federation Account to issue and pay salary awards to their workers just as the Federal Government has been doing through its N35,000 wage award to federal public servants. Indeed, many state governments have recently stepped up the introduction of palliative measures to provide succour for their people in critical areas including agriculture and food affordability, education and healthcare among others.

There are many more. An executive order to further boost investment, create jobs and business opportunities in the oil and gas sector is in place while the Federal Government in collaboration with states again are engaging in mechanized agriculture. It is also noteworthy to state that, though the prices of goods may be high, the claim in some quarters that Nigeria is facing a food crisis is not supported by facts. Those insinuating this are merely playing politics. President Tinubu had since ordered the release of 42,000 metric tonnes of grains to the states from the National Grain Reserves. And with what I witnessed last week, along with the National Communication Team led by Information Minister Idris Mohammed Malagi, in respect of massive planting of wheat and maize in Jigawa State, even in dry season, the state is set to meet this year’s target in respect of domestic consumption of the two commodities and exports.

The Tinubu government is thinking and working frantically to ensure all of that and more so that governance remains impactful and enduring. It has become compelling that as citizens, we must continue to play our part. The example of Lawyer and Businessman Allen Onyeama’s Air Peace and its gallant intervention, which helped to crash the airfares on the lucrative Lagos-London route, is there for all of us to emulate.

-Rahman is a Senior Presidential aide

Opinion

Tinubu, the opposition and the Nigerian honey pot

Published

on

By Professor Kayode Soremekun

As the Tinubu administration approaches the one year mark, it is important to effect a review of what has transpired in the last twelve months.

At the level of sheer policy postures and pronouncements, much has been done and so much is also  being done, such that it is almost impossible to keep  pace .

In this narrative however, I have decided  to dwell on an unusual aspect of the last twelve months.

On this note, the thrust of my argument is this:Nigeria is a lucrative honeypot for external actors and their local collaborators. It is a situation in which every achievement of  this administration translates into a loss for external actors and their interests. These indeed are the various indices of the opposition which will continue to stalk this administration.

At the instinctual level, and unfortunately, the average reader is likely to view the opposition in terms of predictable variables like the: PDP, LP and possibly the various indices of civil society.

But this piece is not preoccupied with these.

Rather our attention is focused on the implications of the evolving dynamics of Air Peace (AP)and the competition in the aviation industry.

It is instructive to recall here that, as soon as  AP ticked off  on the Lagos-London route, the other  airlines came into some form of self-serving  epiphany. They changed tack through the  process of fare reductions.

The implications of this on-going process are deeper than one may think. As long as Nigeria was absent on the Lagos-London route, the route was something of a honey pot for the other airlines. It  was a sybaritic  situation in which all the other  airlines were busy enjoying themselves at the expense of Nigerians and Nigeria.

In my innocence I  thought  that the only airline that  was benefitting from this bazaar of the Lagos- London route was British Airways (BA) whose ancestors were  the original predators of what  passes for the Nigerian state. Little did I know that other Airlines like Air Maroc and Egyptair were also partakers of this largesse.

On this note, the mind remembers the goggled General, Sani Abacha. In the light of the inclement interplay between his regime and Britain, British Airways was banned from Nigeria. But as soon as he died, BA resumed its lucrative foray into Nigeria. One can imagine how much BA must have lost in the light of that move by the General.

The implication is that for every omission or commission on the part of Nigeria, someone out there is smiling home with huge profits. Such forces and individuals constitute at one level the opposition that anyone who  occupies Aso Rock, has to contend with. Needless to say, our Nigeria is  a huge honeypot since we are  talking here of a huge  market  of 200 million Nigerians.

The situation also partly explains why the Naira will continue to go south since for most of our basic needs, we depend heavily on the external realm. It also explains why anybody who occupies Aso Rock is not just up against the  usual opposition  at the domestic level, he is  also up against  the various indices of opposition beyond Nigeria.

And here we are talking about hard-headed interests and zero-sum games in which what one entity loses, is gained by another  one.

This brings to mind another major area in which over time, Nigeria continues to be a spectator in the scheme  of things.

Our specific reference here is the Nigerian oil industry. Nigeria continues to be passive in this industry. So passive that as an oil producing country there are  no backward linkages like refineries and petrochemicals. Even as I write, there are rumblings to the effect that there are jitters out there. This is because, should Nigeria succeed in bringing on stream her own  refineries, very many jobs will be lost by refiners in places like Rotterdam and South Korea. These are some of the entities who export refined oil to an oil producing Nigeria. Again as regards petrochemicals, should Nigeria come into her own in this vital  area, then our imports of raw materials will reduce drastically. In the light of what is  happening to Air Peace, we should expect a fight-back from relevant interests out there.

Very much the same thing can be said for our steel industry.Till date, it remains comatose. No thanks to international conspiracy ably aided by a wayward ruling class.This is invariably a  sad feature which stretches far back  to the dawn of our political independence. Again, Nigeria’s attempts to come into her own in this vital  area will be resisted, and vigorously too, by  the relevant external forces out there in collaboration with their internal allies. So as PBAT Tinubu settles into his second year in office, he will do well to remember and appreciate that he will be contending with various indices of the opposition at the external   various ways these have their tongues and fingers in the Nigerian honey-pot.They will not give up easily.Which is why, the Tinubu presidency should give these self-serving domestic and external forces a good run for their greed and avarice.

There is some hope however. This cautious optimism lies in the fact that, in the course of  that historic outing in Abeokuta where Tinubu openly staked his claim to the Presidency he also pronounced with equal gravity  on his place  in history. Specifically he opined that he would not want to be a footnote to the Nigerian narrative. So all said and done, it is possible to contend  here that in the light of what can be regarded  as his self-conscious place in history; PBAT has his work cut out for him in critical and vital  areas of our national life like: the steel industry, our oil industry and of  course the Aviation  sector.

Success  in these various  areas can only mean that the Great Black Hope is ready to come into her own.

Soremekun, a professor of political science was the second vice chancellor of Federal University Oye Ekiti, Ekiti State.

Continue Reading

Opinion

Organisation of the Petroleum Exporting Countries’ (OPEC) pride in its African roots

Published

on

By Haitham Al-Ghais, OPEC Secretary General

Since assuming the office of OPEC Secretary General almost two years ago, I have had the privilege of visiting every African OPEC Member Country, as well as several other African countries. Every visit has reaffirmed my firm conviction that the future is bright for Africa and that the oil industry can play a constructive role in that future. Our Organisation stands ready to offer any support it can to help this great continent realise its awesome potential.

OPEC takes great pride in its strong and enduring African connections, heritage and identity. Half of our Member Countries are African and this includes the continent’s most populous country, Nigeria, and the geographically largest by area, Algeria. We are also privileged to count Congo, Equatorial Guinea, Gabon and Libya as Member Countries. Additionally, two African countries are part of the historic ‘Declaration of Cooperation,’ between OPEC and non-OPEC producing countries, namely Sudan and South Sudan.

Our Organisation’s past is imbued with African character. Looking throughout our 63-year history, many significant meetings took place in African cities. From the Ninth Meeting of the OPEC Conference in Tripoli in 1965, critical meetings and conferences have been held in Algiers (including our first ever Summit), Oran, Lagos, Abuja, Luanda, and Libreville.

Indeed, the idea for our Organisation was conceived in Africa, specifically Egypt. It was at the Cairo Yacht Club in 1959, that the Gentleman’s Agreement was forged that paved the way for the establishment of OPEC in Baghdad in September 1960.

Having played a pivotal role in shaping our past, we have no doubt Africa will be instrumental in the Organization’s future and the future of the oil industry. This is a dominant theme in OPEC’s World Oil Outlook 2045 (WOO).

Africa has a young and vibrant population. By 2045, the Middle East and Africa are forecast to be the leading regions by overall population, adding 723 million people in the period 2022-2045.

We anticipate a bright future for Africa’s oil industry with substantial opportunities for growth. The continent is home to five of the top 30 oil-producing countries and its proven oil reserves amounted to around 120 billion barrels at the end of 2022. This will be crucial to meet the growing global demand for oil, which is expected to rise to 116 million barrels per day (mb/d) by 2045.

These resources will be crucial in enabling African countries to deliver for their peoples. For many oil-producing developing nations, oil production is a way to generate revenue streams that help address pressing and legitimate needs, such as development, employment, education, reducing poverty and investing in public services.

One of the great challenges facing governments here and, indeed, in many other parts of the world is energy poverty. There are 675 million people worldwide who lack access to electricity, four out of five of whom live in sub-Saharan Africa. Furthermore, 2.3 billion people are without clean fuels and technologies for cooking, which can lead to a host of related health and environmental problems.

Of course, OPEC supports efforts that lead to a reduction in greenhouse gas emissions, but we look for this to be achieved in a manner that strikes a fine balance between energy security and sustainable development; ensuring that nobody is left behind. We are also strong advocates for the principle of common but differentiated responsibilities and respective capabilities.

The continent of Africa is home to 17 percent of the world’s population, but is responsible for under 4 percent of global CO2 emissions, with many African countries contributing virtually nothing to global emissions.

When we consider historic cumulative CO2 emissions, the G7 has contributed over 43% of the total alone since 1850, while OPEC Member Countries account for only 4 percent.

These statistics reflect the fact that there is no ‘one size fits all’ solution to addressing climate change and national circumstances need to be taken into account. We need an all-peoples, all technologies and all-energies approach. Technological innovation is a key focus for our Organisation.

It is why our Member Countries are investing heavily in hydrogen projects, Carbon Capture and Utilisation and Direct Air Capture facilities, and the circular carbon economy.

Looking at recent developments across the energy scene in Africa, we see opportunities for the oil industry in places like Namibia, Senegal, Mozambique and Mauritania, to name but a few. OPEC is attentive to these developments and stands ready to support all countries on the African continent in the next chapter in developing their industries. In this regard, we look forward to enhanced cooperation with the African Energy Chamber in the years and decades to come.

The African Energy Chamber, as the voice of the African energy sector, commends OPEC’s commitment to the growth of the African oil and gas industry.

Continue Reading

Opinion

President Tinubu: A year of healing and unifying Nigeria

Published

on

By Fredrick Nwabufo

The intangibles of leadership are as potent and profound as the corporeal manifestations of governance. A people must not only see the brick-and-mortar elements of leadership; they must also feel and sense leadership in its quantum of compassion, healing, solace, and capacity to inspire unity, as well as foster peace and progress.

In fact, the incorporeal constituents of leadership are so important that citizens may not see utility in improved economic well-being and massive industrial transformation, if the leadership does not manage the delicate confluences of social and psychological needs.

In some of my treatises as a columnist years ago, I had written that beyond other rudimentary ingredients and supplements of leadership, Nigeria needs a leader who is a healer-in-chief and a unifier by example. A leader who has the proclivity and deliberateness to bring the nation together.

I am most delighted and proud to say Nigeria has found its healer-in-chief; its unifier by example, and consoler-in-chief in President Bola Tinubu. He is the President for all Nigerians.

It has been President Tinubu’s one year of healing and unifying Nigeria. In his inaugural speech on May 29, 2023, the President made a declaration that has become a defining motif of his administration.

He said: “Our administration shall govern on your behalf but never rule over you. We shall consult and dialogue but never dictate. We shall reach out to all but never put down a single person for holding views contrary to our own. We are here to further mend and heal this nation, not tear, and injure it.”

And true to his promise, President Tinubu has been listening and reaching out to Nigerians of diverse complexions and artificial partitions, as well as mending and healing the nation.

Healing and unifying the nation, how, you might ask? By personal example; in words and in deeds. There is no greater purpose and value to leadership than personal example. The place of leadership in forging bonds of communality is the place of purpose and deliberateness. Leadership must be deliberate in managing diversity and in fostering kinship among variegated people. Nation building cannot be left to chance or to a whim. There must be purposive plans and actions towards uniting the people. And these plans and actions, President Tinubu has been successful at carrying through in the past one year.

The President has maintained an accustomed patriotic, graceful, and expansive mien. In his public statements, mostly done extempore, he has always faithfully affirmed his commitment to Nigeria’s unity.

In one of his many noble articulations, he said, “I am irrevocably committed to the unity of Nigeria and constitutional democracy. Constitutional democracy has been reflected greatly here since we assumed office.”

Also to consider are the broad and far-reaching projects and programmes which are in themselves totems of unity – with all Nigerians, irrespective of class or creed, as beneficiaries and potential beneficiaries.

The approval of the Renewed Hope Infrastructure Development Fund to facilitate effective infrastructure development across the pivotal areas of agriculture, transportation, ports, aviation, energy, healthcare, and education, with salient projects across the country is a further affirmation of statesmanship and leadership.

The ongoing epochal Lagos-Calabar Coastal Road, with its attendant immense economic and social benefits to many states within and outside that corridor; the Sokoto-Badagry Road project, and the completed Port Harcourt to Aba stretch of the Port Harcourt to Maiduguri narrow-gauge rail, among other key developments across the nation, assert the all-encompassing and genuine intentionality to nation building. No Nigerian is left behind.

Within the first year, the President also approved the upgrade of key health infrastructure and equipment across all six geo-political zones in line with his administration’s vision of overhauling the health and social welfare sector for enhanced service delivery to all Nigerians.

The following teaching hospitals across the geo-political zones were marked for the establishment of oncology and nuclear medicine centres as part of the President’s bid to ensure that top-tier cancer diagnosis and care is accessible across the country: (1) University of Benin Teaching Hospital, (2) Ahmadu Bello University Teaching Hospital, (3) University of Nigeria (Nsukka) Teaching Hospital, (4) Federal Teaching Hospital, Katsina, (5) University of Jos Teaching Hospital, and (6) Lagos University Teaching Hospital.

Ten other hospitals across all the geo-political zones were also pencilled for critical healthcare-service expansion projects across the fields of radiology, clinical pathology, medical and radiation oncology, and cardiac catheterisation.

The take-off of the first phase of the Consumer Credit Scheme, which is essentially a mitochondrion enabling citizens to improve their quality of life by accessing goods and services upfront, paying responsibly over time, and by the same token bolstering local industry and stimulating job creation is another social cohesion sealant – with all classes of working Nigerians as beneficiaries.  In summary, the establishment of the Nigerian Education Loan Fund (NELFUND) with the pre-eminent vision of safeguarding Nigeria’s future by ensuring that all Nigerian students and youths, regardless of their social, ethnic, or religious backgrounds, have access to sustainable higher education and functional skills, further accents the President’s fidelity to building a stable, strong, united, peaceful, and progressive nation.

One thing is certain: Citizens agree that they have a President for all Nigerians.

Continue Reading

Trending