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Editorial

Levies in the time of inflation

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Nigeria’s food crisis is gunpowder awaiting a spark to create national upheaval, threatening sovereignty. Prices are at an all time high, food inflation nicking 40.5 percent. The previous administration, misled by arsinine economic ideologies, turned Nigeria into a closed system in a bid to attain self-sustenance.

Touting acronyms such as BRICS, MINTs, it hoped to perform economic miracles without the hard work of purging itself of systemic greed. Such misguided thinking would culminate in artificial Rice Pyramids in the final years of the previous administration, and hollow projects, such as Nigeria Air. No surprise then, the galloping inflation that has crippled all sectors and undone the currency.

Week after week, the naira gasps under the heels of inept application of good policies. Foreign exchange rates so unstable traders peg a high margin in order to predict future market prices. Speculation is the order of the day in the Nigerian market, which drives away foreign investments.

Thankfully, the current Federal Government is planning a six-month suspension of import duties on staple food items, drugs, and other essential items as a measure to curb inflation.

 The Inflation Reduction and Price Stability Order, as outlined in the document, will mandate the Ministry of Finance and the Central Bank of Nigeria to devise a plan for offering low-interest loans to the agriculture, pharmaceutical, and manufacturing sectors.

“The import duty and other tariffs are to be suspended on the following for six months: Staple food items; Raw materials and other direct inputs used for manufacturing: Inputs for agriculture production including fertilisers, seedlings, and chemicals; Pharmaceutical products; Poultry feeds, flour and grains,” the document containing the Order read.

The President is also likely to suspend value-added tax (VAT) on automotive gas oil, some basic food items and semi-processed staple food items such as noodles and pasta, raw-material inputs for the manufacture of food items, electricity and public transportation, as well as agricultural inputs and produce and pharmaceutical products for the rest of the year.

Recall that the federal government in its Accelerated Stabilisation and Advancement Plan (ASAP) report submitted by Finance Minister, Wale Edun, is considering the importation of paddy rice into the country as well as maize. The ASAP report recommended an executive order on the importation of paddy rice to millers to stem the growing tide of food inflation across the country.

The document also recommends the following: Import duty & VAT suspension on specified items; Importation of paddy rice by millers; Import duty exchange rate peg.

Among the hardest-hit commodities is rice, a dietary staple. In the past year alone, rice prices have skyrocketed by 169 percent, reaching nearly N90,000 per bag in March and April. This sharp increase in food costs is placing immense strain on households across the country, exacerbating an already fragile economy.

It’s estimated that around 31 million Nigerians may face severe food shortages by August this year. The repercussions of this crisis extend far beyond economic concerns, impacting health, education, and overall societal well-being. Nigeria’s afflictions though abundant are not insurmountable.

The lifting of heavy duties on imports will surely alleviate the inflation yoke upon the economy, and we look forward with renewed hope at this possibility.

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Editorial

Reviving the energy sector as remedy for Nigeria’s economic challenges

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The revival of Nigeria’s interest in energy transition, power, climate change and green economic solutions has raised high expectations within the extractive industries.

The recent constitution of a Presidential Committee on Climate Action and Green Economic Solutions and the appointment of focal persons was a fundamental step to redefining the country’s necessary next steps going forward.

Before this development, hopes on the way forward after the country’s participation at the Dubai Summit remained unclear to many.

The new development was therefore viewed by industry analysts as a major reinvestment of political and social capital into the global debate by President Ahmed Bola Tinubu.

It is noteworthy that the Presidential Committee and the appointed focal persons were handed specific mandates and responsibilities of coordinating and overseeing all policies and programmes on climate action and green economic solutions required to revive, redefine and reposition the country’s interests.

With the United Nations’ projection that Nigeria’s population will rise to about 400 million people in the next 20 years, an unprecedented increase in energy demand and the obvious pressure that will bring to bear on energy financing in developing countries, including Nigeria, the work of the Committee is both important and urgent.

The utmost importance is the urgency to review existing plans, especially in the context of understanding content, context and the comprehensive nature of the issues involved, the associated risks and the potential opportunities.

By its work and nature of operations, NEITI is equipped to support the country’s engagement in the areas of provision of access to credible information and data. This will be required to drive forward-looking analysis, underpin dialogue on policy responses as well as promote evidence-led public debate.

In addition, credible information and data are also essential in policy formulation, analysis of the legal and fiscal framework governing the extractive industries, climate change and greenhouse emissions.

Data is equally important in addressing climate change-induced environmental problems, public education and enlightenment that supports public understanding of government policies related to the energy transition agenda.

For instance, NEITI’s recent report on the oil and gas industry disclosed a total unremitted revenue of gas royalty payments of $559.8 million and another unremitted sum of $828.8 million from unpaid gas flare penalties.

A close look at these figures revealed that more gas resources were flared during the period than utilised, thereby posing serious dangers to the global zero emissions agenda and Nigeria’s commitment to the net zero emissions by 2060.

Apart from gas flaring, other major sources of dangerous emissions, massive environmental pollution and damage to the ecosystems include oil theft, illegal bunkering and refineries, pipeline vandalisation. Data from NEITI Reports between 2009 and 2021 disclosed that Nigeria lost 619.7million barrels of crude oil, valued at $46.16billion, or the equivalent of N16.25 trillion between 2009 and 2020.

In addition, Nigeria lost about 4.2 billion litres of petroleum products from refineries, valued at $1.84 billion at the rate of 140,000 barrels per day, from 2009 to 2018.

During the Ongoing Energy Week, the Minister of State for Petroleum Resources,  Lokpobiri Heineken has disclosed that the economic downturn confronting the country can be addressed by the oil and gas sector.

According to him, the oil and gas sector has been a significant contributor to Nigeria’s economy and relying solely on this sector to solve economic challenges in terms of expanding the sector to include petrochemicals, refining, and manufacturing can create new revenue streams and reduce dependence on crude oil exports.

While investing in new technologies and infrastructure can boost oil and gas production, leading to increased revenue thereby improving the economy.

He encouraged local content and value addition in the sector creating millions of jobs and stimulating economic growth. Effective management of oil and gas revenues, such as investing in sovereign wealth funds, can provide a cushion against economic shocks. Encouraging local procurement, services, and manufacturing in the sector can create economic linkages and stimulate growth.Fostering a business-friendly environment to attract investment and drive growth.

The Minister added that adopting a comprehensive approach that includes both the oil and gas sector and other sectors, Nigeria can more effectively address its economic challenges.

In the power sector, the Minister of power, Adebao Adelabu emphasised on the need to “achieve our 30 percent Renewable Energy target. I urge you to consider the significant benefits of investing in renewable energy projects in Nigeria. Our country boasts abundant resources, particularly solar, wind, and hydro energy, providing a remarkable opportunity for sustainable growth. The renewable energy market has grown tremendously in the last decade, with over $1 billion leveraged by Multilateral Development Banks.”

“By channelling investments into these renewable sources, we can effectively meet our carbon emission targets while playing a crucial role in combating climate change.

“As demonstrated by our recently completed $550 million Nigeria Electrification Project, investing in renewable energy helps reduce carbon emissions, enhance energy security, and support economic development. Additionally, to complement the NEP, the $750 million DARES project would provide electricity to 2.5 million people in Nigeria by deploying solar home systems and mini-grids.”

These investments will propel Nigeria toward achieving its desired energy mix and transition targets as he reaffirmed unwavering commitment to achieving net zero emissions by 2060.

It is critical that decisions and programmes at ongoing energy week will usher in a new dimension that will assist in shifting from the crude oil dominated energy to gas focused economy.

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Editorial

Confronting the menace of ritual killings in Nigeria

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Ritual killings have plunged Nigeria into a state of fear and despair, claiming countless lives and leaving families shattered.

This barbaric practice, driven by the misguided belief that human body parts can bring wealth and power, has become an appalling reality across the nation. It is a gross violation of human dignity and a stain on our societal fabric.

Recent data from the National Human Rights Commission paints a grim picture, with over 200 reported cases of ritual killings between 2018 and 2020 alone.

The victims are often the most vulnerable members of society — children, women, and the elderly. They fall prey to individuals consumed by greed and superstition, who perpetrate these heinous acts under the guise of ancient rituals.

The root causes of ritual killings are complex and intertwined with socio-economic factors. Poverty, lack of education, and unemployment create fertile ground for exploitation by ritualists who promise quick riches through ghastly means.

These beliefs are reinforced by myths and superstitions, perpetuated by a few for personal gain at the expense of innocent lives.

The victims of ritual killings leave behind heartbreaking stories that devastate their loved ones and communities.

In 2020, a tragic example was the abduction and murder of a seven-year-old boy in Lagos, whose body was found mutilated with vital organs removed.

Similarly, a young woman’s life was brutally cut short, and her body was desecrated with the removal of her breasts and genital organs, allegedly for ritual purposes. These heinous crimes leave behind inconsolable families and a society torn apart by fear, grief, and outrage.

Law enforcement agencies in Nigeria face daunting challenges in combating ritual killings. Investigations are hindered by a lack of forensic evidence and witness testimonies.

There are disturbing allegations of influential figures shielding perpetrators from justice, further complicating efforts to eradicate this scourge.

To effectively tackle this crisis, Nigeria must adopt a multifaceted approach. Firstly, law enforcement agencies need adequate resources and training to conduct thorough investigations and prosecute perpetrators without interference.

Secondly, educational initiatives must debunk myths surrounding ritual killings, promoting values that emphasise the sanctity of human life. Economic empowerment programs are crucial to provide viable alternatives to vulnerable individuals susceptible to the lure of quick wealth.

Traditional and religious leaders also play a pivotal role in eradicating these practices.

They must actively condemn ritual killings and educate their communities about the devastating consequences of such acts. Society at large must unite in condemning these crimes and supporting victims’ families through advocacy and practical assistance.

Furthermore, the judiciary must ensure that those responsible for ritual killings face swift and severe punishment. By securing convictions and imposing stringent penalties, the justice system can deter potential perpetrators and provide closure to grieving families.

It is important for Nigeria to act decisively against ritual killings. The future of our nation depends on safeguarding the sanctity of human life and ensuring justice for all.

Let us unite in our resolve to root out this evil and build a society where every individual can live without fear of falling victim to such atrocities.

As we move forward, let us hold our leaders accountable for their actions and demand concrete steps to end ritual killings. Together, we can create a Nigeria where human life is cherished and protected, free from the shadows of ritualistic violence.

Nigeria is grappling with the scourge of ritual killings, which poses a significant threat to human life and dignity. Law enforcement agencies face formidable challenges in investigating and prosecuting these cases due to lack of forensic evidence and eyewitness testimony.

Furthermore, allegations of complicity and protection of perpetrators by powerful individuals or groups hinder justice.

To combat this menace, a multifaceted approach is imperative. Firstly, law enforcement agencies must be empowered to investigate and prosecute ritual killing cases effectively, without interference or influence. Secondly, education and economic empowerment programs can address the root causes of this problem by providing alternatives to poverty and ignorance.

Thirdly, engaging with traditional and religious leaders is crucial to debunk myths and superstitions driving ritual killings.

Society must come together to condemn ritual killings, support victims’ families, and promote cultural values that emphasise human life’s sanctity and dignity. Parents, guardians, and community leaders must guide young people and instil positive values to prevent their involvement in ritual killings.

Strengthening security and judicial response is critical, with thorough investigations, increased patrols, and effective prosecution leading to convictions and appropriate punishments.

We can create a society where human life is valued and respected. Holding leaders accountable for their actions and inactions is essential, demanding concrete steps to address this issue and ensure justice for victims and their families.

Let us act now to honour the memories of those lost and protect our children from this senseless violence.

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Editorial

The urgent need for international cooperation to combat human trafficking

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The recent rescue of 11 young Nigerian girls from the clutches of human traffickers in Ghana is a depravity that lurks in the shadows of our society.

The victims, aged 14 to 18, were lured with promises of restaurant jobs, only to be forced into prostitution and subjected to ritual oaths.

This heinous crime is an indictment of our collective failure to protect the vulnerable and a moral decadence that pervades our society.

The fact that the victims were transported from Lagos to Ghana without international passports, and ferried by boats and roads, speaks to the brazen nature of the traffickers and the lack of effective border control.

The involvement of family members, as revealed by the twins and the alleged mastermind’s brother, adds a disturbing layer of complexity to this case.

The arrest and detention of the alleged culprit are welcome developments, but more needs to be done to tackle the scourge of human trafficking.

Our government must work tirelessly to strengthen border control, collaborate with international agencies, and provide support services for victims. We must also confront the societal issues that drive human trafficking, such as poverty, lack of education, and unemployment.

As a society, we must acknowledge the role we play in perpetuating this cycle of exploitation. We must recognise the value and dignity of every human life and work towards creating a society that is just and equitable for all.

The fight against human trafficking requires a collective effort, and we must all play our part in eradicating this blight on our collective conscience.

Child trafficking in Nigeria has long been a pervasive issue, encompassing not only sex trafficking but also forcing children into strenuous labour. According to UNICEF, children have been victims of this heinous practice for years, with reports highlighting Nigeria’s role as a source, transit, and destination country for trafficked children.

The NAPTIP/UNICEF Situation Assessment of Child Trafficking in Southern Nigeria in 2004 revealed alarming statistics: 46 percent of victims repatriated from external trafficking were children, predominantly exploited in prostitution, domestic labour, forced labour, and entertainment. Internally, children were trafficked for purposes including forced labour, domestic work, and prostitution.

Recent efforts have seen collaboration between Nigeria and neighbouring countries like Gabon, Cameroon, Niger, Italy, Spain, Benin Republic, and Saudi Arabia to combat this scourge. For instance, a joint operation by UNICEF in Nigeria and Benin Republic rescued over 500 children from granite quarries between October and December 2003, facilitating their safe return home.

Despite these efforts, the persistence of child trafficking underscores the urgent need for strengthened international cooperation, comprehensive legislative measures, and robust enforcement to protect vulnerable children and eradicate this egregious violation of human rights.

The increasing number of repatriations from foreign countries, including the UK, Italy, Netherlands, USA, Belgium, Ireland, Saudi Arabia, and South Africa, highlights the severity of the issue.

The false promise of employment, vocational training, or marriage continues to lure Nigerian girls into trafficking for prostitution.

Despite growing awareness, many children still fall prey to traffickers, often with the connivance of family members who prioritise financial gain over their children’s well-being.

The root causes of this crisis are multifaceted, including escalating poverty, lack of opportunities, eroded family values, and the allure of foreign exchange.

While poverty plays a role, it is equally concerning that some parents and guardians have become complicit in the trafficking of their children, driven by greed and a get-rich-quick mentality.

The existence of private transit camps in coastal states, where children are forced into labour and prostitution, is a disturbing indicator of the country’s systemic collapse.

The government must take decisive action to address these issues, including strengthening law enforcement, providing support services for victims, and addressing the socioeconomic factors driving human trafficking.

The repatriation of victims from Ghana is a wake-up call for Nigeria to confront its moral and systemic failures. It is time for the country to prioritise the well-being and safety of its citizens, particularly vulnerable children, and to address the greed and corruption that perpetuate human trafficking.

The spotlight now shines brightly on the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), known for its past successes yet facing an urgent need to become more proactive in combating this pervasive issue.

Simultaneously, the National Orientation Agency (NOA) is urged not just to raise awareness but to adopt a more assertive approach in its campaigns against such abhorrent crimes. Collaboration with traditional leaders is deemed essential to amplify the impact of their efforts.

Amidst calls for thorough investigation, likened to high-profile cases like that of Epstein in the United States, the urgency for unearthing every facet of this organised crime is emphasised.

It’s a crime involving influential figures, demanding nothing less than a comprehensive probe to ensure justice prevails and all perpetrators are held accountable.

Moreover, the involvement of ministries such as Foreign Affairs and Women Affairs is underscored, highlighting the necessity for concerted efforts with NAPTIP to pursue justice vigorously.

Sweeping this case under the carpet is not an option; instead, it must serve as a deterrent while fulfilling the government’s solemn duty to safeguard its youth and secure a safer future for generations to come.

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