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2019 Presidential Poll: Is Atiku’s Defeat Testament That Power is Transient?

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By Omoshola Deji

Power is transient. Owning it doesn’t mean it’ll always be yours. Aiming for it doesn’t mean you’ll get it.

Atiku Abubakar, Nigeria’s onetime second citizen and candidate of the People’s Democratic Party (PDP), again failed to secure the first spot – on his fourth attempt. His first shot at the top job was on the platform of the Social Democratic Party in 1992. He came third in the presidential primaries, behind Babagana Kingibe and Moshood Abiola. Atiku, whose regular loss at the polls has earned him the title ‘veteran contestant’ and ‘serial loser’ was defeated by incumbent President Muhammadu Buhari of the All Progressives Congress (APC) in the 2019 presidential election. The loss dashed Atiku’s hopes of realizing his 27 year ambition.

Against the predictions of notables like Dele Momodu and prominent institutions such as Williams and Associates, and The Economist, the writer foretold Atiku’s defeat and it came to pass. Buhari garnered 15,191,847 votes, to conquer Atiku who scored 11,262,978 votes. Why did Atiku lose?

Atiku has not been arraigned or convicted by any court, but the weighty corruption allegations against him has destroyed his reputation and diminished peoples trust in him. The corruption burden largely made him lose the election, having contested against Buhari who is widely adjudged honest. Atiku’s vow to privatize the inefficient Nigerian National Petroleum Corporation (NNPC) was largely construed as a ploy to enrich cronies, like he allegedly did when he, as Vice President, supervised the privatization of national assets. Atiku’s outburst made the moguls profiting from NNPC’s ineptness work hard for Buhari’s reelection.

Atiku’s focal campaign promise of restructuring the country was widely interpreted as an anti-North agenda by his people. Although the policy amplified his popularity in the less voting populated regions in the South, it incredibly diminished his popularity in the major voting populated North. Atiku also failed to win the minds of voters during campaign. He underutilized the opportunity of using the rallies to draw people’s attention to Buhari’s shortcomings and how he would address them, if elected. Atiku’s campaign was not informative and revealing as expected from an opposition candidate. The PDP stalwarts preoccupied themselves with calumny, ideas bereft, non-issues based campaigns, exchanging insults with Buhari’s men.

Atiku is popular, but his popularity and acceptance is incomparable to that of Buhari. The PDP’s unimpressive performance in the North handed Buhari and APC an easy win. Atiku lost his polling unit and majority of the key northern states by a wide margin. One thing’s for certain, the election must have enlightened Atiku that the mammoth crowd at the rallies are not votaries; they are fun-seekers any candidate desirous of electoral victory must not rely on.

Power is a transient, temporary phenomenon. Atiku, a once very powerful time is now reduced. The ex-Vice President was sometimes ago the ‘commandant’ of the northern political elites. He called the shot. The power blocs sung his song and danced to his beat. He was so powerful to the extent that he almost dethroned his former boss, ex-President Olusegun Obasanjo. It is broadly whispered that Obasanjo allegedly kowtow before Atiku allowed the northern power blocs support their reelection as president and vice in 2003. Today, most of the power blocs under Atiku’s control then have switched allegiance to Buhari. They worked against Atiku, fervidly criticized him, and made him lose the 2019 presidential election.

Most of the notables that worked against Atiku were either discovered or groomed during the Obasanjo-Atiku presidency. Garba Shehu, the Senior Special Assistant, Media and Publicity to Buhari was Atiku’s former media adviser. He fed from Atiku’s purse for over a decade. Shehu was one of the trusted aides Atiku donated to Buhari’s team when the latter won the APC presidential ticket in 2015. Before then, Shehu’s vivaciousness to the emergence of an Atiku presidency had no equal. The reverse is the case now. The same voice Shehu praise Atiku with is the one he is using to demean him now.

During the presidential election campaign, Shehu severally and unapologetically disparaged Atiku in order to convince the Aso Rock cabal that he is not a mole. Shehu’s loyalty shift and pivotal role in the destruction of the Atiku project he once lived for is a lesson to everyone that: like life, human loyalty is temporal and everyone has a price.

Shehu is not the only one. The former Governor of Lagos State and national leader of the APC, Bola Tinubu was once in Atiku’s camp. Both have a time-honored relationship. The amity between them made Atiku work against the interest of his party, the PDP, in 2003, despite being the Vice President at the time. He softened pedals to ensure the political machineries that enthroned PDP in the Southwest states did not capture Lagos. Both men later teamed up to strategize on how to rule Nigeria in 2007. Tinubu allowed Atiku contest for President on the platform of the defunct Action Congress, a party he singly controlled.

The former Lagos Governor apparently backed Atiku with the hope that the latter would hand over power to him after his tenure, but he lost the election. Tinubu still has his eyes on the nation’s top job. His political enmity with Atiku rests on the calculation that the APC is his shortest and strongest link to being President.

Tinubu has a lot to learn from Atiku. The first of such lesson is: power is transient. The political godsons Tinubu has today may also turn against him tomorrow and hinder him from getting his most desired. The powers he has today, he will in due time have them no more. His boys would either switch allegiance or oust him. No man has reigned forever; Tinubu’s political dynasty would sooner or later be ruined by one of his disciples. The handwriting on the wall is clear, but has concealed meaning like that of Daniel 5:25. Only the gifted can see and understand it.

President Buhari’s Ministers of Labour and Agriculture, Chris Ngige and Audu Ogbeh, were once Atiku’s faithful. They teamed up to frustrate Obasanjo’s third term agenda. During difficult times, Atiku supported Ogbeh, particularly when Obasanjo allegedly forced him to resign as the PDP National Chairman. But in the just concluded election, Ogbeh worked against Atiku in favor of his principal, Buhari. The pioneer Chairman of the Economic and Financial Crimes Commission (EFCC), Nuhu Ribadu, is also one of Atiku’s erstwhile beneficiaries that worked against his win. Atiku championed Ribadu’s appointment as EFCC Chairman, a position that ushered him into limelight.

The former FCT Minister and incumbent governor of Kaduna State, Mallam Nasir El-Rufai, was once Atiku’s henchman. Atiku was instrumental to his appointment and political development. He secured him an appointment as the Director General of the Bureau of Public Enterprises and later a Minister. El-Rufai likes to prove his loyalty through show offs. He would, at the time, do anything for Atiku. He hurriedly kneels to greet him at every given opportunity. No one thought the day would come when El-Rufai would work against Atiku.

But lo and behold, Atiku lost El-Rufai’s loyalty when he needed it most. Things took a turn for the worse when Atiku’s vice presidential tenure ended and he lost his presidential bid in 2007. El-Rufai faithfulness would have provided Atiku the much needed succumb when he fell on hard times and was struggling for political survival. But El-rufai was nowhere to be found; he had made new contacts and moved on. He is today’s Atiku prominent critic. His unparalleled dedication to Buhari’s reelection made Atiku lose the presidential poll in Kaduna State.

Don’t be deceived by people’s flattery and worship; they may be the first to throw you stones when you fall on hard times. Once you lose that success, beauty, money, fame or power that is attracting people to you, almost everyone will desert and disappoint you when it matters most. They will quickly find a replacement or pally with whoever is occupying your position. They would forget about you before sunset! You would not only be forgotten, most of the people you fed and clothed will vilify you and dine with your enemy. Senate President Bukola Saraki would be the best person to speak on this in a few months. That aside, how many beneficiaries of Abiola’s kind heartedness are standing by his family now?

Take a quiet time and look inwards, the power you have may be that which is commanding people’s loyalty. Lose the power, go broke, or contract a deadly disease and you’ll see peoples natural behavior. If Atiku had won the APC ticket and emerged president in 2015, the likes of Shehu and El-Rufai would have remained in his team, screaming they love him more than God. Do these persons love Buhari or they just love his power? Where were they when Buhari was losing election serially? Would those shouting ‘sai baba’ now stand by him when the chips are down? One could only hope that Buhari is not only celebrating his victory, but preparing to take Nigeria to the next level, and not drowning in the praise singings of his supporters and handlers.

It must not be left unsaid that Atiku himself is unrighteous. His disloyalty made him fall out with his former boss, ex-President Olusegun Obasanjo. Buhari is his self-inflicted, well deserved nemesis. Atiku immensely sponsored the campaign of the Buhari he’s struggling to defeat now in 2015. His insatiable thirst for power made him play a lead role in pulling PDP down 2015, despite being one of her greatest beneficiaries. He should be grateful that the party was kind enough to offer him her presidential ticket, which many people thinks he doesn’t deserve. He is a serial defector that only stays with any party that is ready to offer him ticket. His desperation for power is dwindling his electoral value and he may never achieve his dream of becoming Nigeria’s President.

While going ahead to challenge his lose at the tribunal, someone should remind Atiku that the seeming politically motivated suspension of Chief Justice Walter Onnoghen is not for nothing. Buhari too should be reminded that power is transient. That he has it today doesn’t mean it’s his forever. He should be conscious of his place in history and treat others the way he would like to be treated when power change hands.

Omoshola Deji is a political and public affairs analyst. He wrote in via [email protected]

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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The Future of Payments: Key Trends to Watch in 2025

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Luke Kyohere

By Luke Kyohere

The global payments landscape is undergoing a rapid transformation. New technologies coupled with the rising demand for seamless, secure, and efficient transactions has spurred on an exciting new era of innovation and growth. With 2025 fast approaching, here are important trends that will shape the future of payments:

1. The rise of real-time payments

Until recently, real-time payments have been used in Africa for cross-border mobile money payments, but less so for traditional payments. We are seeing companies like Mastercard investing in this area, as well as central banks in Africa putting focus on this. 

2. Cashless payments will increase

In 2025, we will see the continued acceleration of cashless payments across Africa. B2B payments in particular will also increase. Digital payments began between individuals but are now becoming commonplace for larger corporate transactions. 

3. Digital currency will hit mainstream

In the cryptocurrency space, we will see an increase in the use of stablecoins like United States Digital Currency (USDC) and Tether (USDT) which are linked to US dollars. These will come to replace traditional cryptocurrencies as their price point is more stable. This year, many countries will begin preparing for Central Bank Digital Currencies (CBDCs), government-backed digital currencies which use blockchain. 

The increased uptake of digital currencies reflects the maturity of distributed ledger technology and improved API availability. 

4. Increased government oversight

As adoption of digital currencies will increase, governments will also put more focus into monitoring these flows. In particular, this will centre on companies and banks rather than individuals. The goal of this will be to control and occasionally curb runaway foreign exchange (FX) rates.

5. Business leaders buy into AI technology

In 2025, we will see many business leaders buying into AI through respected providers relying on well-researched platforms and huge data sets. Most companies don’t have the budget to invest in their own research and development in AI, so many are now opting to ‘buy’ into the technology rather than ‘build’ it themselves. Moreover, many businesses are concerned about the risks associated with data ownership and accuracy so buying software is another way to avoid this risk. 

6. Continued AI Adoption in Payments

In payments, the proliferation of AI will continue to improve user experience and increase security.  To detect fraud, AI is used to track patterns and payment flows in real-time. If unusual activity is detected, the technology can be used to flag or even block payments which may be fraudulent. 

When it comes to user experience, we will also see AI being used to improve the interface design of payment platforms. The technology will also increasingly be used for translation for international payment platforms.

7. Rise of Super Apps

To get more from their platforms, mobile network operators are building comprehensive service platforms, integrating multiple payment experiences into a single app. This reflects the shift of many users moving from text-based services to mobile apps. Rather than offering a single service, super apps are packing many other services into a single app. For example, apps which may have previously been used primarily for lending, now have options for saving and paying bills. 

8. Business strategy shift

Recent major technological changes will force business leaders to focus on much shorter prediction and reaction cycles. Because the rate of change has been unprecedented in the past year, this will force decision-makers to adapt quickly, be decisive and nimble. 

As the payments space evolves,  businesses, banks, and governments must continually embrace innovation, collaboration, and prioritise customer needs. These efforts build a more inclusive, secure, and efficient payment system that supports local to global economic growth – enabling true financial inclusion across borders.

Luke Kyohere is the Group Chief Product and Innovation Officer at Onafriq

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Ghana’s Democratic Triumph: A Call to Action for Nigeria’s 2027 Elections

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ghana election 2024

In a heartfelt statement released today, the Conference of Nigeria Political Parties (CNPP) has extended its warmest congratulations to Ghana’s President-Elect, emphasizing the importance of learning from Ghana’s recent electoral success as Nigeria gears up for its 2027 general elections.

In a statement signed by its Deputy National Publicity Secretary, Comrade James Ezema, the CNPP highlighted the need for Nigeria to reclaim its status as a leader in democratic governance in Africa.

“The recent victory of Ghana’s President-Elect is a testament to the maturity and resilience of Ghana’s democracy,” the CNPP stated. “As we celebrate this achievement, we must reflect on the lessons that Nigeria can learn from our West African neighbour.”

The CNPP’s message underscored the significance of free, fair, and credible elections, a standard that Ghana has set and one that Nigeria has previously achieved under former President Goodluck Jonathan in 2015. “It is high time for Nigeria to reclaim its position as a beacon of democracy in Africa,” the CNPP asserted, calling for a renewed commitment to the electoral process.

Central to CNPP’s message is the insistence that “the will of the people must be supreme in Nigeria’s electoral processes.” The umbrella body of all registered political parties and political associations in Nigeria CNPP emphasized the necessity of an electoral system that genuinely reflects the wishes of the Nigerian populace. “We must strive to create an environment where elections are free from manipulation, violence, and intimidation,” the CNPP urged, calling on the Independent National Electoral Commission (INEC) to take decisive action to ensure the integrity of the electoral process.

The CNPP also expressed concern over premature declarations regarding the 2027 elections, stating, “It is disheartening to note that some individuals are already announcing that there is no vacancy in Aso Rock in 2027. This kind of statement not only undermines the democratic principles that our nation holds dear but also distracts from the pressing need for the current administration to earn the trust of the electorate.”

The CNPP viewed the upcoming elections as a pivotal moment for Nigeria. “The 2027 general elections present a unique opportunity for Nigeria to reclaim its position as a leader in democratic governance in Africa,” it remarked. The body called on all stakeholders — including the executive, legislature, judiciary, the Independent National Electoral Commission (INEC), and civil society organisations — to collaborate in ensuring that elections are transparent, credible, and reflective of the will of the Nigerian people.

As the most populous African country prepares for the 2027 elections, the CNPP urged all Nigerians to remain vigilant and committed to democratic principles. “We must work together to ensure that our elections are free from violence, intimidation, and manipulation,” the statement stated, reaffirming the CNPP’s commitment to promoting a peaceful and credible electoral process.

In conclusion, the CNPP congratulated the President-Elect of Ghana and the Ghanaian people on their remarkable achievements.

“We look forward to learning from their experience and working together to strengthen democracy in our region,” the CNPP concluded.

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The Need to Promote Equality, Equity and Fairness in Nigeria’s Proposed Tax Reforms

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By Kenechukwu Aguolu

The proposed tax reform, involving four tax bills introduced by the Federal Government, has received significant criticism. Notably, it was rejected by the Governors’ Forum but was still forwarded to the National Assembly. Unlike the various bold economic decisions made by this government, concessions will likely need to be made on these tax reforms, which involve legislative amendments and therefore cannot be imposed by the executive. This article highlights the purposes of taxation, the qualities of a good tax system, and some of the implications of the proposed tax reforms.

One of the major purposes of taxation is to generate revenue for the government to finance its activities. A good tax system should raise sufficient revenue for the government to fund its operations, and support economic and infrastructural development. For any country to achieve meaningful progress, its tax-to-GDP ratio should be at least 15%. Currently, Nigeria’s tax-to-GDP ratio is less than 11%. The proposed tax reforms aim to increase this ratio to 18% within the next three years.

A good tax system should also promote income redistribution and equality by implementing progressive tax policies. In line with this, the proposed tax reforms favour low-income earners. For example, individuals earning less than one million naira annually are exempted from personal income tax. Additionally, essential goods and services such as food, accommodation, and transportation, which constitute a significant portion of household consumption for low- and middle-income groups, are to be exempted from VAT.

In addition to equality, a good tax system should ensure equity and fairness, a key area of contention surrounding the proposed reforms. If implemented, the amendments to the Value Added Tax could lead to a significant reduction in the federal allocation for some states; impairing their ability to finance government operations and development projects. The VAT amendments should be holistically revisited to promote fairness and national unity.

The establishment of a single agency to collect government taxes, the Nigeria Revenue Service, could reduce loopholes that have previously resulted in revenue losses, provided proper controls are put in place. It is logically easier to monitor revenue collection by one agency than by multiple agencies. However, this is not a magical solution. With automation, revenue collection can be seamless whether it is managed by one agency or several, as long as monitoring and accountability measures are implemented effectively.

The proposed tax reforms by the Federal Government are well-intentioned. However, all concerns raised by Nigerians should be looked into, and concessions should be made where necessary. Policies are more effective when they are adapted to suit the unique characteristics of a nation, rather than adopted wholesale. A good tax system should aim to raise sufficient revenue, ensure equitable income distribution, and promote equality, equity, and fairness.

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