Feature/OPED
2020: Its Lessons and Controversies
By Jerome-Mario Utomi
It is reasonable to argue that ‘history is an unending dialogue between the present and the past through a continuous process of interaction between the historian and his facts’.
Likewise, the year 2020, a year ‘garnished’ with controversies and other forms of ups and downs, may have come and gone. Yet, the lessons/controversies it left behind will linger for a very long time.
For reasons, the global community and Nigerians, in particular, must not allow these ingrained lessons and controversies go with the political winds.
Aside from the age-long believe that any society or group that ignore the lessons of history wonder in dilemma, abandoning the lessons of the year 2020 will amount to a decision that future historians will certainly describe as terribly mistaken on issues of human and societal interests as the shadowy spirit of such ill-considered past will continue to haunt the world.
Beginning with the controversies that trailed the COVID-19 pandemic which dominated the 2020 discourse, looking at the ‘harvests’ of deaths recorded across the world within the year under review, it is obvious that the world was indeed troubled. Adding to that state of global desolation was torrents of accusation and counter-accusation about the real and imagined cause of the pandemic between the two world powers, the United States of America (USA) and the People’s Republic of China.
While President Donald Trump of the United States of America (USA) had earlier told the world that COVID-19 is a China virus, the Chinese government’s view is that, although the flu virus may have started in Wuhan, this doesn’t mean it was “made in China.”
This communication collision and another poor handling of other leadership challenges on the part of President Trump made him a president reputed for adopting a different position towards democracy and global issues. And as a consequence, propelled Americans and of course the entire world to conclude that the torch of democracy was wrongly passed to him.
Trump on his part has since learnt his lessons as his undiplomatic handling of COVID-19 crisis, undemocratic tendencies/remarks and other misgivings have accurately led to his being voted out as President in the just concluded presidential elections held in the United States.
Trump’s trivial stands as a leadership lesson for the present and future world leaders
Even as President Trump continues to lick his wounds, one indelible lesson the outbreak of Coronavirus pandemic taught the world is that there is an amazing democracy about death. ‘It is not aristocracy for some of the people, but a democracy for all of the people.
During this period of COVID-19 pandemic, Kings died and beggars died; rich men died and poor men died; old people and young people died. As humans, we have finally come to terms that death comes to the innocent and it comes to the guilty- death is an irreducible common denominator of all men’’.
With the above highlighted, let’s focus on some specific lessons that are Nigeria-specific.
The first has to do with economic and security lessons. it is no longer news that, despite President Muhammadu Buhari’s led administration promise to tackle insecurity and revamp the economy, the Nigerian economy in November 2020 slipped into its second recession in five years, and the worst economic decline in almost four decades as the gross domestic product contracted for the second consecutive quarter with the nation’s GDP recording a negative growth of 3.62 per cent in the third quarter of 2020.
At about the same time also, the security challenge in the country became so alarming with many calling for the immediate sack of the Service Chiefs while the rest demanded the immediate resignation of Mr President.
The greatest lesson that Mr President needs to draw from the above occurrence recorded in the year 2020 is that the credibility of leadership can only be established through actions and not words. Another moral lesson that every member of his cabinet has to draw is that it is easier to criticize than raising fingers to solve a problem.
This moral lesson is predicated on the fact that in May 2013, General Buhari, a former Head of state and presidential candidate of Congress for Progressive Change (CPC) (as he then was), going by media reports, told Nigerians that the economy of the country would continue to slide unless the security and other challenges were checked. Many agreed that though Buhari may not be an economic buff, his statement paints a precarious picture of the ugly economic situation in the country, especially regarding the revenue accruing to the nation.
It also reminds me of how in July 2014, the Lagos State Governor, Mr Babatunde Fashola (as he then was), while marking his 2,600 days in office at an elaborate ceremony held at the Blue Roof of the Lagos Television premises, said that voting out the ruling Peoples Democratic Party (PDP) from power in next year’s general election was the only way the country can have stable electricity.
Electricity crisis in the country he added is caused by a lack of ideas and insincerity of purpose on the part of the federal government.
Today, Nigerians have marched with Buhari as President for over 5 years. Yet, the country is still going through the pangs of hardship resulting from those economic challenges he (Buhari) complained about in 2013. In fact, those challenges such as power outages which Fashola complained about, are not only alive and active.
Viewed differently, this leadership failure teaches that presently, sustainable development and the related notion of sustainability as preached across the globe by development professionals are becoming increasingly important policy objectives for the government at different levels as well as in the private sector.
It suggests that there is a growing need to strengthen the conceptual understanding of different notions of sustainability and their implications. In particular, there is a need to design effective policies that aim to achieve sustainability objectives, and more importantly, to analyse the implications of the proposed policies.
What about the #EndSARS campaign experience that rocked the nation in October 2020?
In fact, no one seemed to have seen it coming that Nigerian youths previously described as ‘lazy’ could one day build; stakeholders’ engagement, demand accountability from leaders, advocate nation-building tradition and good governance activism.
Essentially, from their sustained/relentless campaign which spanned for weeks, it was not only evident that Nigeria’s youngest citizens have crawled out of their shells to make a demand that their elected government treat them with dignity and protect their constitutional rights and democratic freedoms, rather, what is in some ways newsy and apparent is that the youths grouse against the ruling party enjoys the support of well-meaning Nigerians of diverse background, profession, religion and tribe.
From the above position, flow two different lessons.
Foremost is that it justified the words of Martin Lurther King Jr that when millions of people have been cheated for centuries, restitution becomes a costly process.
Inferior education, poor housing, unemployment, inadequate health care each is a bitter component of the oppression that has been our heritage.
Second and very fundamental is that youths have come to term that sovereignty as provided for in Section 14 (2) (a) of the 1999 Constitution (as amended) belongs to the people.
Hence, they are ready to hold the government accountable makes demands for prudent use of the nation’s resources and kick against man-made code that neither squares with moral laws nor uplifts human personalities.
Jerome-Mario Utomi is the Programme Coordinator (Media and Public Policy), Social and Economic Justice Advocacy (SEJA), Lagos.
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
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.
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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