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2021: Leadership, Electricity and Petroleum Sectors

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Petroleum Sector

By Jerome-Mario Utomi

At a glance, President Muhammadu Buhari comments during his 2021 New Year message to Nigerians on Friday, January 1, 2021, that; “this administration would continue to focus on delivering key strategic priorities under our SEA (Security, Economy and Anti-Corruption) agenda,” without any shadow of the doubt portrays his led federal government as a government that understands the experts believe by Sheikh Mohammed Bin Rashid Al Maktoum, that the efficiency of the government sector does not only affect the performance of the public sector-it affects that of the whole country, including the private sector.

When the public sector achievements pick up speed, the increased pace extends to the activities in all other sectors; incorporating new companies, implementing projects, and import and export, to name a few.

Efficient resource management is essential to secure our future and economic sustainability; therefore, we must continually emphasize the importance of this principle.

Admittedly, the mission of any government should be to promote its peoples’ creativity. On the other hand, when you broaden this ambit of concern, the situation in Nigeria points at a nation that is not practical and systematic in tackling the job of leadership or keen on results.

Out of many other concerns, supporting the above assertion is the recent media report credited to the Nigerian Electricity Regulatory Commission (NERC), stating that, electricity consumers in the country would, as part of the Multi-Year Tariff Order (MYTO) recommendation for the sector, pay more for energy to reflect inflation trend and foreign exchange reality. Also ringing apprehension is NERC’s indications that the Federal Government would not subsidise any class of consumer by the end of this year as it plans to enforce 100 per cent remittance for all DisCos by the end of the year.

Aside from making the road to citizens’ recovery from the present precarious economic situation long and difficult, this present policy coming at a time when the dust raised by previous thoughtless hikes in electricity tariffs and the Premium Motor Spirit (PMS) are yet to settle leaves big questions unanswered.

Take as an illustration: How can Nigerians be creative when they are afraid and frustrated by government policies? When the bureaucracy is rampant, corruption is widespread? Where equal opportunity does not exist and most jobs and promotions are obtained through powerful people? And in a situation that leaves people with no hope for the present or the future?

To explain, this piece is not out to teach the federal government how to build a nation or revamp the economy but it is obvious to the author, and of course, development professionals do not think that what the federal government is doing is the best way to solve the nation’s economic challenges.

Understandably also, there is some truth in the stand of some Nigerians that given the non-competitive nature of petroleum downstream sector, not just in Nigeria, but worldwide, it is a monopolistic sector, the need for the protection of consumers from exploitation calls for the emergence of a strong regulator. That means that such a regulator will be able to effectively do its work. Some of us are worried that the regulatory effectiveness of critical sectors such as the petroleum and electricity sectors have been a suspect in the last few years.

Similarly, no one has succeeded in dispelling the avalanche of proof that the federal government’s continued dependence on crude oil to run its economy has become out of fashion and an ‘evil wind that blows no nation any good.

A while ago, AL Gore, former Vice President in the United States of America, shared a similar concern about the danger of dependence on, and manipulative nature/tendencies of the global petroleum market. It reads; our current excessive dependence on oil endangers not only our national security and the earth’s environment but also our economic security.

Anyone who believes that the international market for oil is a “free market” is seriously deluded. It does have many characteristics of a free market, but it is also subject to periodic manipulation by the group of nations controlling the largest recoverable reserves (the Organisation of Petroleum Exporting Countries, or OPEC)—sometimes in concert with the small group of companies that dominate the global production, refining, and distribution network.

It is extremely important for us to be clear among ourselves that these episodic manipulations have not one objective, but two.

First of all, these producing nations naturally seek to maximize profits. But more significant, they also seek to manipulate our political will. And for the last thirty years, they have paid careful attention to the need for price reductions every time the West comes close to recognizing the wisdom of developing adequate supplies of our own independent sources of renewable fuels.

We need to face the fact that our dangerous and unsustainable consumption of oil from a highly unstable part of the world is similar in its consequences to other forms of self-destructive behaviour. The longer it continues, the greater the harm and the more serious the risk.

There are ingrained lessons for Nigeria as a nation to draw from this argument.

Conversely, in my observation, most of Nigeria’s leadership failures in this direction occur more because most government policies, decisions and strategies are overripe than because they are premature. For example, from 2015 to 2018, the federal government going by reports had spent N1.12 trillion as electricity subsidy.

In 2015, the DISCOS were owed N165 billion by the FG in subsidy, while it climbed to N235 billion in 2016. PWC predicts the debt is expected to reach N522 billion at the end of 2019.

Between 2015 and 2018, the total revenue spent by the federal government in subsidizing electricity stood at N1.12 trillion, while the subsidy spent on petroleum products within the same period was pegged at N1.2 trillion, data from the Nigerian National Petroleum Corporation (NNPC) has shown.

Expectedly, some commentators looking at the figure may support the federal government’ full deregulations of power and petroleum sectors. But in taking that decision, these are few questions they failed to remember; within this period under review, why have the FG not revamped the nation’s refineries which was a major campaign promise? Or is the period not enough to carry out Turn Around Maintenance (TAM) of refineries in question? More particularly is the fact that, if there is anything that Nigerians wish that the FG should accomplish quickly, it is getting the refineries to function optimally as well as make the NNPC more accountable to the people. Why is the Federal Government almost always finding it convivial removing subsidies in commodities, goods and services beneficial to the poor masses?

While these questions are being digested, they are evident that leaders don’t need to continuously humiliate their citizens or frustrate business owners and stifle their creativity in the name of economic development.

In truth, it is documented that in the early sixties, South Korea was poorer than Egypt and facing military and economic pressures more than what we currently grapple with as a nation. These circumstances did not, however, deter that country from becoming a major industrial power.

Similarly, Taiwan and many other countries managed to evolve from basic economies into industrial powerhouses within the span of a few decades, and against the backdrop of very difficult political and economic circumstances. It is no longer possibly correct, therefore, to use major national issues as an excuse for our leadership failures.

Jerome-Mario Utomi is the Programme Coordinator (Media and Public Policy), Social and Economic Justice Advocacy (SEJA), Lagos.

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Nigeria’s Olodo Uprising: An Assault on Critical Thinking

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olodo uprising

By Prince Charles Dickson, PhD

A sheep was passing and saw a lion crying inside a cage, trapped and helpless. The lion begged the sheep to rescue him, promising not to kill or eat it. The sheep refused at first, knowing fully well that a lion does not become a vegetarian because of captivity. But after much persuasion, emotional blackmail, and the sheep’s own gullibility, it opened the cage.

Now the lion was very hungry, having stayed in the cage for days without food. It quickly pounced on the sheep and was about to kill and eat it, but the sheep reminded him of his promise.

They were still arguing when other animals came passing. They sought to know what had happened. Both the lion and the sheep narrated their sides of the story, but because of fear, convenience, and a desperate need to gain favour in the lion’s eyes, all the animals took sides with the lion, except the tortoise, who claimed not to understand the whole scenario.

The tortoise asked the lion to show them where exactly he was before the sheep rescued him. The lion pointed at the cage.

The tortoise asked again, “Were you inside or outside when the sheep arrived?”

The lion replied, “I was inside.”

The tortoise then said, “Okay, enter and let us see how difficult it could be inside, because I am not getting the whole scenario.”

The lion entered, and immediately, the tortoise locked the cage. The lion was trapped again.

That story is not just folklore. It is a national diagnosis.

Nigeria today is full of trapped lions, gullible sheep, frightened animals, and very few tortoises. We have many people with opinions, but few with discernment. Many with certificates, but few with comprehension. Many with titles, but few with thought. Many who can quote policy, scripture, law, and ideology, but cannot ask the simple question that prevents disaster: “Wait first, how did we get here?”

That question is the beginning of critical thinking. Sadly, it is becoming an endangered species.

The easiest and most attractive national pastime remains buck-passing, especially with the bunch of leaders we have, some of whom can hardly peel a banana or wash an already white handkerchief. Not many of us want to take responsibility for anything, from personal life to family life, from community life to national life. The blame is always on the system, as if the system descended from the sky and imposed itself on innocent citizens.

We do not need to create demons out of our leaders because, in too many instances, they have behaved like ready-made specimens of public demons. So, we hang our sins on them, sometimes appropriately, sometimes lazily. Unfortunately, their behaviour has made it easy for the critics to descend on them. They shout loudly, lie casually, perform empathy only when cameras are present, and govern as though the people are background noise in their private banquet.

But there is a deeper tragedy. The lion is not our only problem. The sheep, too, must be examined. The other animals must be questioned. Even the silence of the forest must stand trial.

This is where the Olodo Syndrome enters.

In Nigerian street language, “Olodo” is often used to describe a dull person, someone slow to understand, someone who fails where basic reasoning should have saved them. But in this essay, Olodo is not merely the person who did not go to school. No. Nigeria has produced a more sophisticated creature: the educated olodo. The certificated illiterate. The graduate who cannot reason beyond slogans. The public officer who mistakes grammar for intelligence. The citizen who forwards nonsense with confidence. The analyst who mistakes noise for insight. The leader who confuses movement with progress. The voter who sells tomorrow for rice today, then spends four years complaining that the pot is empty.

Olodo, therefore, is not the absence of schooling. It is the failure of judgment.

It is what happens when a nation rewards mediocrity and punishes thought. It is what happens when people who ask serious questions are labelled troublesome, while those who clap for madness are called loyal. It is what happens when dumb, crazy things move the needle, while wisdom is treated like an old man coughing in the corner. It is what happens when unintelligent people do not merely exist, but are celebrated, promoted, defended, and installed as gatekeepers over those who still dare to think.

This is Nigeria’s Olodo Uprising.

It is an uprising not of the poor against the rich, nor of the uneducated against the educated. It is an uprising of shallow thinking against depth. An assault on memory, logic, accountability, and consequence. It is the national habit of refusing to connect action to outcome. We open the cage, release the lion, and then begin a prayer meeting when the lion remembers its appetite.

We talk, write, and discuss the Nigerian myth with a sense of fatalism. “This is Nigeria,” we say, as if that phrase is both an explanation and an excuse. If everyone thought as much about justice and fairness, life would be better. I am a critic, yes, but I am also a critic’s critic. I remain an unrepentant believer that one of the ways to keep the government on its toes is to keep harping on its flaws so that it can improve. But criticism without self-examination becomes entertainment. It becomes pepper soup politics, the kind we enjoy at drinking joints, suya spots, WhatsApp groups, and television studios where every table has a parliament and every loud voice is mistaken for a constitution.

Often, I say I believe the things I write are important for our nation, as they are for other nations. But when it appears to me that Nigerians, especially those in authority, do not react to these issues as people in other lands do, I repeat them in new essays to remind old readers and recruit new ones to participate in the continuing dialogue.

Because repetition, sometimes, is not a lack of creativity. It is the burden of memory in a country addicted to forgetting.

Sadly, this is Nigeria, where nothing works, and no one cares. When it works, it is often because someone’s interest is about to be served or is already being served, not because the people’s interest has suddenly become sacred. We talk about our institutions despairingly. Our leaders do not watch network news except when their faces will appear at their sons’ or daughters’ weddings, birthdays, burials, thanksgiving services, or self-sponsored ceremonies of public praise. They do not need newspapers anymore because too many pages are already full of their lies, paid adverts, and noisy banters dressed as governance.

A country that destroys thinking will eventually be governed by instinct.

That is why the Olodo Syndrome is dangerous. It not only makes people ignorant. It makes them confidently ignorant. It gives stupidity a microphone and asks wisdom to apply for permission to speak. It converts public debate into shouting contests. It turns leadership recruitment into ethnic arithmetic, religious panic, stomach infrastructure, and emotional blackmail. It makes citizens defend their oppressors because the oppressor speaks their language, attends their church, worships in their mosque, comes from their zone, or once gave them transport money.

This is how the other animals sided with the lion.

Not because the lion was right. They knew he was wrong. But fear is a powerful editor of truth. Hunger is a wicked lawyer. Proximity to power is a dangerous intoxicant. In Nigeria, many people do not support injustice because they are confused. They support it because they are calculating. They are asking themselves, “What if the lion remembers me tomorrow? What if I need a favour? What if I condemn him now and he becomes minister, governor, chairman, commissioner, vice chancellor, senator, president?”

So, they betray the sheep.

Government bashing remains a national pastime, and every drinking joint and suya spot has a sitting parliament with an expert on every issue. But we forget that no matter the input, if the politicians and actors on our national scene have questionable lives both at personal and domestic levels, nothing will change. The best government policy cannot change the individual when the policies themselves are formulated on a bad foundation by people with warped thinking.

A corrupt mind cannot midwife a clean system.

When a witch proclaims her presence, and an invalid does not make away, he must have money for sacrifices at home. Nigeria has been warned too many times. We have seen the witch. We have heard the announcement. Yet we remain seated, arguing about who invited her, who offended her, which village she came from, and whether her witchcraft is constitutionally recognised.

This is not merely a leadership failure. It is civic laziness. It is moral cowardice. It is intellectual surrender.

The tortoise in the story represents the rare citizen who does not join the chorus. The one who pauses the noise. The one who asks for sequence, evidence, context, motive, and consequence. The tortoise is not the loudest animal. It is not the strongest. It does not roar. It does not bleat. It thinks.

That is what Nigeria needs now: more tortoises.

Not slow people, but thoughtful people. Not cowards hiding under shells, but citizens who understand that speed without thought is national self-harm. We need people who can ask leaders: Where were you before power? What did you promise? What have you done? Who benefits? Who pays? What happens tomorrow? We need teachers who teach children to question, not merely to cram. We need voters who examine character before currency. We need religious leaders who produce conscience, not crowds. We need journalists who investigate, not decorate. We need institutions that reward competence over loyalty, substance over noise, and courage over convenience.

Because the lion will always be hungry again.

That is the part Nigeria refuses to learn. Appeasing bad leadership does not end its appetite. Excusing mediocrity does not transform it into excellence. Rewarding foolishness does not make it wise. If we allow the lion to eat the sheep today because we are afraid, hungry, tribal, religiously sentimental, or politically invested, we have not solved the hunger problem. We have only postponed our own turn.

In amazement, the other animals asked the tortoise, “why” and the tortoise replied. “If we allow him to eat the sheep today, he will still go hungry tomorrow, and we don’t know what will be eaten tomorrow—May Nigeria win.

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Stocks vs Forex: Which is Better for Beginners in 2026?

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Stocks vs Forex

By Onah Ishioma Adaeze

As a beginner, choosing between stocks and forex for your investment goals in 2026 can feel overwhelming. Before investing your hard-earned money, it is important to understand how both markets work.

While both markets present investors with opportunities to grow their wealth, they also differ in terms of volatility, liquidity, market hours, and leverage. Stocks involve owning portions of a company, while forex has to do with trading a base currency against a quote currency.

In this article, we will be going through the basics of stocks and forex, pointing out their differences, and helping you decide which asset better suits your investment journey in 2026.

What is Stock Trading?

When it comes to stock trading, you are buying shares of a company, which makes you a shareholder of that company. As a shareholder, you may be entitled to receive dividends whenever the company decides to pay dividends.

As for those companies that do not pay dividends, there are other benefits a shareholder may enjoy, like being called upon to attend shareholder meetings and having voting rights on certain company matters.

On a global scale, over $100 trillion worth of shares are traded annually. Also, the rising popularity of AI companies and technological innovations continues to drive investor participation and market growth.

If you’re an investor looking to buy and hold capital assets, then stock trading is definitely for you, as it allows for short-term, medium-term and long-term investment goals.

When you buy shares of a company and the company performs well, your shares increase in value. Another benefit of stock trading is access to index funds and ETFs.

These funds consist of companies that are grouped under an index. They are carefully selected and monitored under the fund, sparing the investor the stress of actively tracking the fund.

They can be a way of building a long-term, diversified portfolio, and some of these funds may pay dividends.

What is Forex Trading?

Forex trading has to do with buying one currency and selling another. With a pair like USD/JPY, USD is the base currency being bought against JPY, which is the quote currency.

In order to execute a trade in the forex market, you have to analyse and make predictions based on price movement, as well as pay attention to what’s going on in the global news scene.

The forex market runs twenty-four hours every weekday, with over $9 trillion traded in the market every day. Being the largest financial market in the world, there is very high liquidity.

Forex trading involves buying one currency against another, making predictions based on price movements on the forex charts. Price moves based on the activities of large institutions like hedge funds, big banks, the government, etc.

The forex market runs 24 hours a day, every weekday, with global forex turnover reaching $9 trillion per day in the BIS 2025 survey. Being the largest financial market in the world, there is very high volatility and price fluctuations.

At the same time, there is high liquidity in the market, which means that currency pairs can easily be bought and sold without hassle. Highly liquid instruments that are traded regularly include: EUR/USD, USD/JPY, GBP/USD, and gold (XAU/USD).

As a retail trader, knowing when to enter and exit the market is important. As easy as it is to make profits from price fluctuations, it is also very easy to lose money if the market moves against you. This is why it is important to set stop losses and take profits. This helps manage your trading capital.

Major Differences Between Stocks and Forex

While investing in stocks and forex can yield great capital gains, there are lots of ways in which they differ.

As a beginner, stock trading provides opportunities for long-term investments, ensuring slow but consistent returns for wealth building. But if you are looking for an active, short-term style of investment, then forex trading is for you, as it allows you to enter and exit the market within a shorter time frame.

Which is Better in 2026?

Choosing an asset to invest in all boils down to personal preference. At the same time, if you are not averse to risk, nor opposed to asset diversification, then it’s okay to invest in both.

For beginner investors in 2026, stock trading is easier to understand and get into, especially because of mutual funds, index funds and ETFs. With those funds, you don’t have to be an expert to start investing. You can just buy a fund that suits your needs and hold it over a long period of time.

If you are an investor who enjoys technical analysis, highly volatile and liquid markets, as well as trading under short time frames, then forex trading is the right pick for you.

Conclusion 

You do not need to put all your eggs in one basket. There are investors who invest in both stocks and forex simultaneously. When starting out, you can start investing in stocks while learning forex. Take calculated risks and do not invest above your means. Diversify your investments and remember, when starting out, you should prioritise acquiring knowledge over profits.

Onah Ishioma Adaeze is a finance writer who is passionate about simplifying complex concepts into easily digestible pieces. Her hobbies are reading and watching anime

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Building 234 Solutions: A Response to Everyday Workforce Challenges

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Owoloye Emmanuel 234 Solutions

By Owoloye Emmanuel

Every business starts with a problem. For us, that problem was hiding in plain sight.

Across organisations, we kept seeing HR professionals, payroll teams, and business leaders spend significant time navigating processes that should be simpler. Employee records sat across multiple systems, payroll processes required manual intervention, and routine workforce tasks often became more complicated than they needed to be.

As businesses grow, workforce operations naturally become more complex. Yet many organisations still rely on disconnected tools and workflows that create unnecessary friction for both employers and employees.

The consequence is more than operational inefficiency. HR teams spend valuable time managing systems instead of supporting people. Business leaders struggle to access timely workforce insights, while employees experience delays in processes that should be seamless.

These weren’t isolated challenges. They were recurring realities across workplaces, regardless of industry or size.

That observation led us to a simple question: what if workforce management could be easier?

What if HR, payroll, and workforce operations could work together within a single, connected experience?

That question became the foundation for 234 Solutions.

We are building 234 Solutions with a clear belief that workplace technology should reduce complexity, not add to it. Our goal is to help organisations spend less time navigating processes and more time focusing on productivity, growth, and people.

As we prepare for launch, our focus remains simple: building practical solutions for real workplace challenges and helping organisations create better experiences for the people who power them every day.

Owoloye Emmanuel is the founder of 234 Solutions

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