Feature/OPED
The NSE, Oscar Onyema Foundation and Corporate Governance
By Olufemi Awoyemi
“Ethics is knowing the difference between what you have a right to do and what is right to do.” – Potter Stewart.
The mandate given to the newly constituted executive management of the NSE post-Ndi Okereke-Onyuike was to develop, grow and implement an exchange driven by, and able to hold itself to the best possible standards of governance and to exercise extreme caution where any appearance of or circumstance may present itself.
The exchange has been executing this mandate without incident till Friday, August 17, 2018 when it supervised the launch of a private foundation of the CEO at its office, including organizing a bell ringing session; an activity hitherto reserved for departing CEOs.
This is an isolated case but one that indicates acquiescence, if not support from the NSE Council – the mandate keepers. Mr Oscar Onyema is thoughtful, professional and a gentleman who has every right to pursue socially uplifting causes. It is a good thing to do but not sufficient to meet the highest standards of corporate governance; in so far as he holds the position of the CEO of the exchange.
I believe that this was an honest mistake devoid of ulterior motives yet has however thrown up obvious conflicts arising from the use of the exchange in the launch and promotion of the foundation. The related issues, impact and implications arising therefrom and related to now forms the subject of this memo to the market.
That said, when it comes to how and what Oscar Onyema, the NSE Council and indeed the foundation should decide next on this matter, sovereignty over decision-making does not rest with commentators and independent analysts like me; they rarely do. It will be one in which the parties will have to make in the best interest of the market – as they wish to be remembered.
It is my expectation that pedigree, intent and value orientation(s) will kick in and corrective action will be taken to make this a non-issue.
Context Matters
Market operators know the story of Ndi Okereke-Onyiuke’s 2008 outing under the aegis of “Africans for Obama Campaign”, the fund-raising that followed, and the ensuing governance issues raised concerning the director-general’s role and that of the Nigerian Stock Exchange (NSE) as an institution.
Students of Nigerian corporate governance history will equally recall that Ndi’s mistake here was to repeat the May 2005 act by then President Obasanjo to invite and receive donations into the Olusegun Obasanjo Presidential Library (OOPL) project which was launched in Abeokuta with the goal of raising N7 billion for the project, while he was still in office.
It would appear that the Nigerian Stock Exchange hasn’t grasped that history lesson fully. Instead, the exchange seems to be acting out the same script, the consequence of which would indicate sadly that there is no institutional memory or sustained desire to elevate the governance environment in our markets beyond where it bottomed out.
To “mobilise and sensitise Africans about the Obama policies and message”, Ndi Okereke-Onyuike, OON, then Director-General/CEO of the Nigeria Stock Exchange in 2008 organized and caused to be held an August 11, 2008 glamorous fundraiser where business leaders and high-society elites paid up for tables. This generated a whole lot of heat and enquiry for which she was cleared of any wrongdoing because no Nigerian laws were broken. That said, the fact that US laws prohibited overseas donations ab-initio made the purpose, positioning and promotion of the fundraiser and the associated role of the exchange a continuing corporate governance concern, especially on matters bothering on conflict of interest and of roles.
To demonstrate and deepen democracy in Nigeria, then President Obasanjo initiated and caused to be incorporated on November 12, 2002 the Olusegun Obasanjo Presidential Library Foundation and subsequently held a fundraiser on Saturday, May 14, 2005 for the said presidential library. Donors to this project included oil companies, financial institutions, business leaders and high-society elite.
Good Intentions Actualized Should Matter & Be Encouraged In Our Society
The referenced saga above exemplifies Oscar’s predicament with the launch on Friday, August 17, 2018 at the Exchange, of the ONO Foundation, which for all intents and purpose speaks to our common humanity and response to the plea for private sector leaders to play a structured role in helping to build a better society.
Babatunde Folawiyo, a well-regarded business leader and chairman, board of trustees, ONO Foundation, echoed the message from Oscar Onyema when he said “the foundation is borne out of an understanding that the society of our dreams cannot materialize if its future (the children and the youth) are not properly trained, inspired and equipped to be the catalyst and springboard of change and growth”.
Good Intentions, Bad Optics For Governance
The reasoning for the foundation is not a problem and should not be a subject of a debate. The issue however is with the launch signaling, timing, linkage to the exchange and role of the principal progenitor in current status. It is all about corporate governance which according to Advocate Johan Myburgh “is not a matter of right or wrong; it is more nuanced than that.” The nuance is exemplified in the optics.
This was an Oscar Onyema who was the CEO of the NSE but decided to seat for the exams of the Chartered Institute of Stockbrokers (CIS), passed and thus conferred esteem upon the practice members. He is, and has always been committed to market best practice and this is the threshold with which the current optics is being viewed.
The deployment of socially uplifting projects in pursuit of the common good seldom succeed when deployed under a cloud of ethical and governance challenges. Instead of saluting Oscar however for the launch as he did it, we may unfortunately end up seeing him as a conspicuous victim here of his own good track record to date on the subject of best practice and higher standards corporate governance.
There must be a more cogent explanation for the role of the exchange beyond rules, conventions and privileges given what we know of the man and his service pedigree. I am not aware of any known case of any wrongdoing against the CEO but believe that the elimination of ‘incestuous relationships’ is critical to the functioning of the exchange CEO in the discharge of the CEO’s responsibilities.
Oscar N. Onyema OON is the CEO of the Nigerian Stock Exchange (NSE), a position he was employed to on 4 April 2011; and for which he is currently serving a second five-year term. He has over twenty years working experience in the United States of America‘s financial markets and the Nigerian information technology sector. Onyema is also the Chairman of the Central Securities Clearing System (CSCS) Plc, a fellow and member of the Governing Council of the Chartered Institute of Stockbrokers of Nigeria (CIS), the President of the African Securities Exchanges Association (ASEA), a Global Agenda Council member of the World Economic Forum (WEF), member of the Board of Trustees of the Investors’ Protection Fund (IPF), and he serves on the boards of all subsidiaries of The Exchange, National Pension Commission of Nigeria, FMDQ OTC PLC.
In his work coverage, he had served as the senior vice president and chief administrative officer at American Stock Exchange (Amex), which he joined in 2001 and has the unique distinction of being the first person of colour to hold that position, and was instrumental in integrating the Amex equity business into the New York Stock Exchange (NYSE) Euronext equity business after the latter’s acquisition of Amex in 2008. He then managed the NYSE Amex equity trading business, which he helped position as a premier market for small and mid-cap securities.
Oscar, an alumnus of Harvard Business School where he completed the Advanced Management Program, is no slouch and he knows his onions.
It is this level of responsibility, engagement and exposure that defines minimum expectations and professional conduct which makes it all the more baffling why he would allow his name to be associated with, or involved in the implied, if not apparent conflict of role situation, the launch of the Oscar N. Onyema Foundation (ONO) at the premises of the exchange presents.
The Nigerian Stock Exchange (as a self-regulatory organization), has done a lot of work in the areas of corporate governance and has adopted best practices as a key element in achieving its vision and mission. This is well articulated and demonstrated by its governing board – the National Council of the Exchange – who regards corporate governance as fundamentally important to the discharge of its responsibilities and its conduct in all its dealings with its stakeholders.
It would thus stand to reason therefore that any appearance of conflict will be an issue to be addressed under risks associated with the executive committee’s mandate.
Identifying Risks And Concerns
This Friday escapade and the questions it threw up, ought to have been an issue which the governing council ought to have addressed its minds to prior to the event; and immediately afterwards vis-à-vis the obvious corporate governance implications arising therefrom, in a clime like ours and at a time like this; especially when juxtaposed against our recent history of an incestuous relationship-biased regulatory environment, and the steps needed to restore confidence in the financial market system, nay the capital market.
The fact that, three or more years after, the board of the Securities & Exchange Commission (SEC) of Nigeria has not been officially constituted illuminates actions taken by a SRO operating in a governance challenged environment more clearly.
Taking together, a common view of the ONO foundation profile the existence or implied infusion of a real or perceived conflict of interest or/and role situation on face value; at the minimum.
An attempt to articulate and decouple the two roles the CEO of the exchange seeks to play here is both a matter of precedence and corporate governance ethos at the exchange.
The primary concerns relate to the determination of the following:
As an employee of the exchange, was there a need for, and was a request made, and an approval granted by the Council of the Exchange.
Was there an approval for the CEO to serve as a trustee and board member of a privately funded foundation named after him?
Would having a foundation bearing his name and having some aspects of its objects similar to undertaking by the exchange’s CSR plan have led to a consequential review of best efforts (including for example the mentoring program)?
Would conducting such a launch in the exchange and deploying its resources in the public engagements require an approval? and
Did the council consider it fit and proper to approve the hosting of a bell ringing session for the CEO, an otherwise revered activity reserved as a sending-off gesture by the exchange for deserving executives; especially when such administrative approvals were vested in the CEO (the beneficiary in this case)?
Is it an allowable practice for a serving CEO to hold a board/trustee position in a private entity (including an NGO with related parties on board) while in office?
Are there provisions for handling co-board positions with directly related party(ies) of a listed entity in the code and are there waivers for this?
Are there disclosures of a conflict of interest or role requirements for:
The exchange’s CEO where such a proposition presents itself?
Any member with direct or indirect dealings with the exchange?
The elimination of safeguards or wall between the exchange and the foundation?
What advisory will the NSE provide to firms who approach it seeking guidance in deciding which social cause (CSR) is priority to the exchange between NSE’s CSR activities (corporate cancer funding, schools program etc) and the ONO foundation’s programs?
Would the duplicitous representation not serve to convey and deliver an “unintended consequence” on stakeholders involved with the exchange, who would feel the pressure and compulsion to “support” the CEO’s foundation as part of ‘good relationship management?
Would such support contributions not qualify as in-kind benefits or/and possibly a vehicle for the inducement of a principal officer of the exchange?
Under what circumstance is such a practice allowable for other executive committee members who may also be so motivated to pursue such socially beneficial cause(s)?
A review of these possible scenarios and best practice cases guided us to reaching a position, if not a conclusion – that this was a bad precedence and one that the market and principals need to work together on by elevating thought to resolve along the lines of institution building.
Legality And Capital Market Governance
As a collective, we seem to have come a long way from the 2008 discourse level which by 2014 had produced an NSE well aware of the need for a higher standard of corporate governance as Oscar Onyema himself brilliantly espoused in Corporate Governance: Ideas & Changes in the Nigerian Capital Market
Nigerians have since risen up and humiliated their political class over its handling of financial conduct, and particularly of the level of impairment evident in the regulators ability to rise above the numerous incestuous relationships they are often cluttered with.
Indeed and sadly, the generality of the public have come to accept and see nothing terribly unusual about their sense of powerlessness and alienation from the responsibility imperative of regulators, which it has been proven collectively, brought us to the state where we felt a wholesome change was need in our markets in 2010.
If we cannot change behaviour at the level of the sovereign, we can at least do this effectively at the level of industry and thus help provide teachable lessons for the development of the culture required to raise governance standards in the country and create a veritable example for listed entities.
This is one of such unique opportunities.
Moving on from here would require more than compliance with existing rules, conventions, laws and statutes – it requires setting new standards beyond rules to help us untangle roles and relationships.
Conflict of Interest – Overcoming Potential Impediments
Conflict of interest is difficult to define, yet it often appears obvious to many people who think they know it when they see it. If ever there was an issue that captures this sentiment, this foundation launch offers us an opportunity to discuss the grey areas inherent in our codes and how we should walk through them.
The legal definition of conflict of interest, usually set out in conventions, rules and laws governing non-profit entities and indeed SRO’s, is very specific and covers relatively few situations. Most conflicts fall into the ‘grey area’ where ethics and public perception are more relevant than statutes or precedents.
For this purpose, conflict of interest is therefore placed in the background to raise the much informed argument about the ‘conflict of roles’ which arises whenever the personal or professional responsibilities of a market-based entity and board member appear to be potentially at odds with the best interests and objectives of the market as a fair and level playing space.
Such possible areas of conflict (in roles/interest) can be narrowed down to the following ‘cultural’ issues, viz:
Conflict by association – linkage of the exchange to the foundation;
Conflict arising from relationship with board members;
Conflict arising from professional responsibility;
Conflict arising from precedence; and
Conflict arising from related parties and entanglement.
It is obvious that there is so much to unpack here. I must however crave the markets indulgence to draw a close on this memo on the premise established – i.e. that the appearance of a conflict of interest is a minimum criteria for council oversight in the affairs of the NSE.
While it is my hope and expectation that responsible parties singled out here will respond and take appropriate actions; it comforts me to leave you with the words of Bishop Desmond Tutu, from whom we may draw the inspiration needed to act in the circumstance, viz:
“We must not allow ourselves to become like the system we oppose. We cannot afford to use methods of which we will be ashamed when we look back, when we say, ‘…we shouldn’t have done that.’ We must remember, my friends, that we have been given a wonderful cause. The cause of freedom! And you and I must be those who will walk with heads held high. We will say, ‘We used methods that can stand the harsh scrutiny of history.’”
Olufemi Awoyemi is the Founder and Chief Executive Officer of Proshare Nigeria Limited.
Feature/OPED
PETROAN, ‘Abiku Refineries’ and the Comfort of Collapse
A sector that keeps reviving what has repeatedly failed, while resisting what works, is not trapped by fate but comforted by collapse. PETROAN’s latest outburst exposes just how invested some interests remain in Nigeria’s ritualised dysfunction.
By Abiodun Alade
Nigeria’s oil and gas sector has endured many seasons of noise masquerading as advocacy. From time to time, pressure is applied not in pursuit of reform, but in defence of habits that have outlived their usefulness. The latest episode is revealing not because it is novel, but because it exposes, with unusual clarity, the discomfort of rent-seeking intermediaries when genuine change threatens familiar margins.
That discomfort has recently found expression in the agitation by the Petroleum Products Retail Outlets Owners Association of Nigeria over comments made by Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company Limited. In demanding his resignation, PETROAN has inadvertently illuminated a deeper problem in Nigeria’s petroleum political economy: the resistance of entrenched intermediaries to reform that narrows the space for easy rent.
Ojulari’s offence was not misconduct. It was candour. He observed, correctly, that the Dangote Petroleum Refinery has provided breathing space at a time when government-owned refineries are shut, and that the NNPC should not rush back into the familiar ritual of pouring millions of dollars into turnaround maintenance for facilities that have become monuments to waste. This is not heresy; it is prudence.
For a quarter of a century, Nigeria has chased the mirage of refinery rehabilitation. Public records suggest that between $18 billion and $25 billion has been spent on turnaround maintenance and rehabilitation of the four state-owned refineries, with little to show for it. Like the abiku of Yoruba lore, these refineries are revived with ceremony, only to relapse almost immediately. Working today, dying tomorrow. To insist that this cycle must continue, regardless of evidence, is not patriotism. It is sabotage dressed as concern.
PETROAN’s reaction is therefore instructive. In a recent statement, its spokesman, Joseph Obele, described it as “most worrisome” that there was no urgency to restart the Port Harcourt Refinery because Dangote is meeting current fuel needs. The association went further, threatening to lobby civil society groups and pursue legal options to force the removal of the NNPC GCEO should the refinery not resume operations by March 1. This is not policy engagement. It is pressure politics.
Why would a body of retailers, whose business model depends largely on buying and reselling products refined elsewhere, be so hostile to domestic refining capacity? The answer lies in incentives. Domestic refineries compress margins. They reduce arbitrage. They expose inefficiencies that thrive in scarcity. For decades, fuel importation and the dysfunction it encouraged created space for unearned profits across the value chain. Local refining threatens that arrangement.
History offers a useful parallel. In Mancur Olson’s classic work The Logic of Collective Action, he explains how small, organised interest groups often prevail over the broader public interest because they are better motivated to defend narrow gains. PETROAN’s conduct fits this pattern. It speaks loudly, often, and with confidence, but for whom does it really speak?
It is also worth recalling PETROAN’s posture during earlier periods of distress in the sector. At moments when the national oil company was accumulating unsustainable obligations, remitting little or nothing to the Federation Account and absorbing enormous costs, commendations flowed freely. Laurels were dished out even as the system bled. That era ended with the Federal Government writing off substantial debts, including about $1.42 billion and N5.57 trillion after reconciliation. Nigerians paid the price for that indulgence.
During the years when Nigeria’s petroleum sector was driven to the brink, PETROAN looked the other way. The record is clear. The national oil company captured the entire value chain, seizing crude exports, monopolising refined product imports, and then forcing the Federal Government to borrow an estimated N500 billion monthly to sustain opaque subsidy claims. By controlling nearly 90 per cent of the roughly $3 billion in monthly crude proceeds routed through the Central Bank, and combining this with subsidy payments and other shocks, fiscal space collapsed, driving the government into massive Ways and Means financing.
At the same time, refinery rehabilitation became an industry without output. About $10 billion was spent over a decade on maintenance with nothing to show for it, not even a litre of petrol. A further $3 billion was later securitised against future crude sales for yet another failed repair cycle, a sum that could have delivered dozens of modular refineries. Even after the Petroleum Industry Act prioritised Domestic Crude Obligation, compliance remained elusive, while Nigeria continued to burn scarce foreign exchange importing substandard fuel into a system with no functional midstream. These were not marginal errors but a business model that plunged the country into crisis. Throughout it all, PETROAN’s voice was conspicuously muted, generous with praise where scrutiny was required.
This is why the current agitation rings hollow. Reform always unsettles those who prospered under disorder. President Bola Tinubu’s administration has signalled, through words and decisions, that it intends to break with the old script. Ojulari’s mandate at NNPC is clear: commercial discipline, efficiency and profitability. That mandate cannot be reconciled with endless rehabilitation theatre.
There is another uncomfortable question PETROAN has not answered. What value does its leadership bring to the petroleum sector beyond television appearances and press statements? Serious business leadership is measured in assets built, jobs created and value added. Publicly available information suggests that some of the companies associated with PETROAN’s leadership are modest in scale, with limited project footprints. Allegations and controversies reported in the public domain around some of these entities, whether in the power metering space or elsewhere, only reinforce the need for caution in elevating moral authority. Perhaps PETROAN’s members would do well to examine the records of those who speak in their name before an association meant to represent many is reduced to the private estate of a few and recast as an adversary of the public interest.
This is not to say that retailers have no role in policy debate. They do. But influence must be earned through insight, integrity and alignment with the national interest. Threats and ultimatums betray a lack of confidence in argument.
Nigeria stands at a fork in the road. One path leads back to ritualised waste, institutional failure and the comfort of familiar inefficiencies. The other leads to local capacity, competition and a petroleum industry that finally works for Nigerians. The Dangote Refinery is not a silver bullet, but it is a signal that the old excuses are losing credibility.
PETROAN’s nuisance value thrives only when reformers flinch. President Tinubu has shown little appetite for cheap blackmail. Ojulari enjoys his confidence for a reason. The task before NNPC is too important to be derailed by those nostalgic for a broken system. If PETROAN wishes to be relevant in this new era, it must evolve from noise to nuance. Otherwise, history will remember it not as a defender of consumers, but as a footnote in Nigeria’s long struggle to escape the tyranny of waste.
Abiodun, a communications specialist, writes from Lagos
Feature/OPED
What If the Problem Isn’t Just the Government?
By Blaise Udunze
Recent reports in the media space highlighting threats of “naked protests” by market women across several states if the federal government fails to address the issue of hardship underscore the depth of hunger and poverty gripping the nation. No doubt, there is hardship in the country, of which Nigeria’s poverty crisis is often framed as the government’s failure, poor policies, weak institutions, corruption, and economic mismanagement.
From a balanced viewpoint, while these factors are undeniable, they do not tell the full story in its totality. The reality is that the majority of Nigerians, being the larger populace experiencing this challenge, will definitely oppose the ideology that poverty in Nigeria is not merely a policy problem; it is also a societal one. The underlying truth is that this is shaped by citizens’ behaviours, choices, cultural norms, and civic attitudes. This will remain a lived experience of the people until this dimension is confronted honestly; reforms will continue to yield limited results.
Nigeria’s economy has witnessed growth as inflation has decelerated, with headline inflation easing to 15.15percent and food inflation retreating to 10.84 per cent. The exchange rate was stabilising, and foreign reserves ($46.7 billion) had climbed to a seven-year peak. Despite the growth figures and ambitious government targets, millions of Nigerians remain trapped in poverty. More alarming is the recent estimates suggesting that an additional two million people could fall below the poverty line this year alone.
The intrigue is that the geographic distribution of these figures tells a deeper story, and this is more revealing than the numbers; however, there is an uneven geographical spread. Of concern here, which is troubling, is why states such as Yobe, Jigawa, Katsina, Kano, and Zamfara tend to experience or be deep in poverty when compared to other states like Lagos, Port Harcourt, Aba, Enugu, and Onitsha, which are projected to experience less poverty. This disparity raises a critical question, which calls for an urgent answer to why poverty outcomes differ so starkly within the same country, because no doubt, much of the explanation lies beyond government failures.
While governance challenges exist nationwide, the explanation extends beyond Abuja. Perhaps this is from deliberate ignorance of the people; the reality is that it lies in education, cultural practices, social norms, and individual responsibility play decisive roles in shaping economic outcomes.
One key alarming fact that has deeply entrenched poverty in many northern states, unlike other regions, is limited access to education, especially for girls, early marriage, polygamy, and large family sizes. There have been several factors that reinforce cycles of poverty by stretching limited household resources, reducing educational attainment, and limiting economic mobility, and this will continue to be a long-standing challenge or lived experience for the people if not addressed.
It is clearer that practical comparison illustrates this reality. Taking into consideration that a low-income worker in Yobe who marries four wives and raises over twenty children will inevitably struggle to provide adequate education, healthcare, and opportunities for his family, while in contrast, a similar worker in Aba is more likely to marry later, have fewer children, and invest in their education. Without much ado, over time, the children in the latter household acquire skills, productivity, and economic relevance because their parents chose to prioritise education for them, while the former remain trapped in subsistence and dependency. These differences are not subjective; they are structural and measurable.
Religion and culture further complicate the picture as record has it that Nigeria is one of the most religious countries in the world, yet religiosity often serves personal aspirations, prosperity, miracles, or divine favour rather than reinforcing civic responsibility and social ethics. Today in Nigeria, political leaders frequently reinforce this distortion and moral narrative. Only recently, it was announced that public officials in Abuja celebrate marrying off multiple children at once, some governors borrow billions to spend public funds on religious pilgrimages, while underfunding education, healthcare, and infrastructure, they send a clear message about priorities. In contrast, states that invest deliberately in education, such as Enugu with its smart school initiatives, demonstrate how leadership choices influence societal outcomes.
Still, the crisis of responsibility is not confined to any region. It is national, as proved during the discussions at Lagos State’s 12th Summit of the Association of Retired Heads of Service and Permanent Secretaries (ALARHOSPS), it was emphasised that societal progress depends not only on leadership but on citizenship behaviour. According to Professor Wusu Onipede, citizenship is defined by commitment to collective welfare, not mere residence.
The truth is not far-fetched, going by the saying that actions, positive or negative, directly impact society. What would have informed the common actions, such as stealing public assets, vandalising infrastructure, ignoring traffic laws, or tolerating corruption, all accumulate into widespread societal harm as seen in our everyday lives. Conversely, volunteering, mentorship, and community engagement generate resilience, opportunity, and shared prosperity. With close reading, one will notice that this dynamic was captured succinctly in Professor Oluwatomi Alade’s “Triangle for Change,” which pointed to the home, the school, and the community. Parents must brace up to understand that the primary responsibility is upon them to start prioritising education, teachers who impart both knowledge and character, and communities that uphold civic values create the foundation for sustainable development because the truth is that the change does not only rest on the government. In the same manner, it will be said that neglect in any of these spheres, whether through early marriage, disregard for schooling, or normalisation of polygamy, undermines national progress.
Religious institutions, as Professor Oguntola-Laguda argues, must also evolve, which means that beyond spiritual teachings, they should emphasise practical social ethics in the areas of responsibility, productivity, gender inclusion, and civic duty. In regions where harmful norms persist, faith leaders, traditional authorities, and elders possess the influence necessary to drive change, if they choose not to use it, otherwise the society will remain impoverished.
Globally, the link between social norms and poverty is well established, and norms that condone child marriage, gender exclusion, or unchecked family sizes perpetuate intergenerational deprivation. Over the period, in other countries, it is clear that economic interventions alone cannot dismantle these patterns because countries like India show that combining education incentives, political inclusion, and social protection can reduce poverty among marginalised groups. Initiatives such as Uganda’s SASA, which is a program that demonstrates that shifting attitudes toward gender and empowerment lead to improved economic outcomes. Nigeria’s poverty strategy must similarly integrate social transformation with economic reform.
None of this absolves government responsibility. Poorly sequenced reforms, rising taxes, insecurity, weak infrastructure, and inadequate social protection continue to deepen hardship. Senator David Mark of the African Democratic Congress has criticised what he terms “vicious policies” that worsen citizens’ vulnerability. Nigerians are acutely aware of these failures. What they demand is not statistics or political rhetoric, but practical policies that reduce hardship, enable productivity, and promote inclusion.
Even at this, Nigerians must take into cognisance that government action alone is insufficient. Poverty cannot be eradicated where large families are unsustainable, education is undervalued, and corruption is tolerated at the household and community levels. Individual responsibility remains the missing link. Citizens must be discreet in their timing for marriage until they can provide adequately, manage family sizes responsibly, educate all children, especially girls and reject the glorification of excess and impunity.
Insecurity further illustrates this shared responsibility. Though one will argue that the state bears the constitutional duty to protect lives and property, law and order, what about the dwellers? Communities must actively support security efforts through vigilance, information sharing, and conflict resolution. Silence in the face of crime and corruption enables disorder because independence loses meaning when citizens disengage from safeguarding their own communities.
Another critical aspect that is akin to insecurity is that economic development also falters when citizens undermine progress through dishonesty, rent-seeking, and apathy. What people fail to understand is that entrepreneurship, accountability, and cooperation are as vital as government-led job creation. The same thing can be said of cooperatives, vocational training, and local enterprise, which can deliver immediate relief and long-term sustainability. Wealthier Nigerians must focus on genuine social investment, creating opportunities, supporting education, and building institutions that outlast personal interest or individual generosity, rather than charity or wasteful spending or fueling crimes. Social responsibility must become a social norm.
One laughable misconception people harbour about independence, which must be clarified, is that it is not simply freedom from colonial rule; it is the presence of civic responsibility. It must be understood that poverty persists not only because of policy gaps but because of harmful norms, cultural practices, and neglected duties. Anyone can argue this, but the truth is that there will always be a replay of this menace kicked against because every child denied education, every early marriage, every act of corruption, reinforces the cycle.
Breaking this repeating problem, known as poverty, takes several coordinated strategies working together, not just one solution. There must be an understanding that the issues are complex and interconnected; they must be addressed from different angles at the same time. For these reasons, the government must provide stable policies, infrastructure, and social protection and the citizens, in like manner, must reform behaviours that perpetuate poverty. The same must be said of the families that must prioritise education, and also, the communities must reward civic engagement and innovation. Religious and cultural leaders must promote responsibility alongside faith because these are critical platforms that have the attention of the greater number of people. The policymakers at this juncture must ensure that policies not only deliver relief but also incentivise behaviours that support sustainable development.
Without too much argument, it is glaring that Nigeria’s potential is evident in states and communities that have embraced education, civic virtue, and social reform. Judging by the developments in different states, one will conclude that Lagos demonstrates how engagement and accountability improve outcomes, while Enugu shows that investing in children yields long-term dividends. Conversely, regions where harmful norms persist remain trapped, regardless of federal spending.
Without much ado, all Nigerian stakeholders must come to the terms that Nigeria’s poverty challenge cannot be reduced to government failure alone. It is a collective problem rooted in culture, norms, and personal choices because sustainable development demands both accountable leadership and responsible citizenship. The fact remains that poverty will remain an enduring shadow, irrespective of the repeated threats of “naked protests,” but until Nigerians fully embrace their role as architects, not just beneficiaries of national progress. True independence begins when citizens accept that the future of the nation rests as much in their daily choices as in public policy.
Blaise, a journalist and PR professional, writes from Lagos and can be reached via: [email protected]
Feature/OPED
AU Must Reform into an Institution Africa Needs
By Mike Omuodo
From an online post, a commentator asked an intriguing question: “If the African Union (AU) cannot create a single currency, a unified military, or a common passport, then what exactly is this union about?”.
The comment section went wild, with some commentators saying that AU no longer serves the interest of the African people, but rather the interests of the West and individual nations with greedy interests in Africa’s resources. Some even said jokingly that it should be renamed “Western Union”.
But seriously, how has a country like France managed to maintain an economic leverage over 14 African states through its CFA Franc system, yet the continent is unable to create its own single currency regime? Why does the continent seem to be comfortable with global powers establishing their military bases throughout its territories yet doesn’t seem interested in establishing its own unified military? Why does the idea of an open borders freak out our leaders, driving them to hide under sovereignty?
These questions interrogate AU’s relevance in the ensuing geopolitics. No doubt, the AU is still relevant as it still speaks on behalf of Africa on global platforms as a symbol of the continent’s unity. But the unease surrounding it is justified because symbolism is no longer enough.
In a continent grappling with persistent conflict, economic fragmentation, and democratic reversals, institutions are judged not by their presence, but by their impact.
From the chat, and several other discussion groups on social media, most Africans are unhappy with the performance of the African Union so far. To many, the organization is out of touch with reality and they are now calling for an immediate reset.
To them, AU is a club of cabals, whose main achievements have been safeguarding fellow felons.
One commentator said, “AU’s main job is to congratulate dictators who kill their citizens to retain power through rigged elections.” Another said, “AU is a bunch of atrophied rulers dancing on the graves of their citizens, looting resources from their people to stash in foreign countries.”
These views may sound harsh, but are a good measure of how people perceive the organization across the continent.
Blurring vision
The African Union, which was established in July 2002 to succeed the OAU, was born out of an ambitious vision of uniting the continent toward self-reliance by driving economic Integration, enhancing peace and security, prompting good governance and, representing the continent on the global stage – following the end of colonialism.
Over time, however, the gap between this vision and the reality on the ground has widened. AU appears helpless to address the growing conflicts across the continent – from unrelenting coups to shambolic elections to external aggression.
This chronic weakness has slowly eroded public confidence in the organization and as such, AU is being seen as a forum for speeches rather than solutions – just as one commentator puts it, “AU has turned into a farce talk shop that cannot back or bite.”
Call for a new body
The general feeling on the ground is that AU is stagnant and has nothing much to show for the 60+ years of its existence (from the times of OAU). It’s also viewed as toothless and subservient to the whims of its ‘masters’. Some commentators even called for its dissolution and the formation of a new body that would serve the interests of the continent and its people.
This sounds like a no-confidence vote. To regain favour and remain a force for continental good, AU must undertake critical reforms, enhance accountability, and show political courage as a matter of urgency. Without these, it may endure in form while fading in substance.
The question is not whether Africa needs the AU, but whether the AU is willing and ready to become the institution Africa needs – one that is bold enough to initiate a daring move towards a common market, a single currency, a unified military, and a common passport regime. It is possible!
Mr Omuodo is a pan-African Public Relations and Communications expert based in Nairobi, Kenya. He can be reached on [email protected]
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