Feature/OPED
2023 and Voting in Anger Quagmire
By Jerome-Mario Chijioke Utomi
When millions of people are cheated for too long, restitution becomes not just a costly process but substantial in financial and human terms; inferior education, poor housing, unemployment, and poor healthcare facilities-Martin Luther King Jr.
It is not only a barefaced truth 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 enjoy the support of well-meaning Nigerians of diverse backgrounds, professions, religions and tribes.
It was a similar feeling that partially explains the recent admonition by Babatunde Fashola, Minister of Works and Housing, during the sixth edition of the annual ‘BRF GABFEST’, held recently in Lagos and had as its theme, ‘What Am I Voting For?’, to advise Nigerians to vote in the 2023 polls based on track record and resist voting in anger.
‘Emotions should not be the primary drive for making choices of quality leaders who will address the challenges of the country. We might wonder how to get candidates to address these issues. One way is to look at what their manifestos present and what their political parties profess. The other way is to attend rallies they organize. I urge you to vote by holding debates and town halls where you put questions to the candidates to test their abilities.
“I urge you to vote by looking at what the candidates have done before, this is like asking for the referees during an interview or talking to a previous employer. This is how to recruit an employee. Not by anger.”
Indeed, the insight given by the Minister remains credible and should be encouraged.
But beyond this peripheral consideration, there exist torrents of reasons why many young Nigerians who were not of age in 2015 will get the chance to vote for the first time, and those who voted last time out will want to activate their dreams in another call for change; this time for the better.
Aside from the fact that the new orientation would be shaped by recent fiscal, sociological, political and communal happenings in the country; coupled with the pockets of ethnoreligious upheavals and misgivings from one region against another or powerful personalities against each other, the present movement and ‘youth’s revolt’ is majorly a fight against deformed leadership, resource mismanagement and perennial egotism, and fired by the reality that the oppressed cannot remain oppressed forever. After about eight years of unfulfilled change, the electorate should be excused if they enter 2019 with a new dream on their minds, and head to the polls with a different mentality from what they had in 2015 and 2019 respectively.
There are countless examples of how government daily disconnects from the people, but perhaps, understandably the first one that comes to mind is their inability to recognize that public order, personal and national security, economic and social programmes and prosperity are not the natural order of things but depends on the ceaseless efforts and attentions from an honest and effective government that the people elect.
This piece is not alone in this line of belief.
In 2018, for instance, former President Obasanjo in his personal but open letter to President Muhammadu complained about ‘lice of poor performance in government- poverty, insecurity, poor economic management, nepotism, gross dereliction of duty, condonation of misdeed-if not outright encouragement of it, lack of progress and hope for the future, lack of national cohesion and poor management of internal political dynamics and widening inequality’’
Today, such fears expressed by the Obasanjo cannot be described as unfounded.
On the issue of petrol pump price and electricity tariff hike, I recall now with nostalgia that one of the popular demands during the fuel subsidy removal protest in January 2012, under President Goodluck Ebele Jonathan’s administration, was that the federal government should take measures to strengthen corporate governance in the Nigerian National Petroleum Corporation, NNPC, as well as in the oil and gas sector as a whole. This is because of the belief that weak structures made it possible for endemic corruption in the management of both the downstream and upstream sectors of the oil and gas industry.
Eight years after such demand was made and Jonathan has gone, the three government-owned refineries in the country have not been able to function at full capacity as promised by the present administration for a myriad of reasons that revolve around corruption.
Today, 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. What happened under president Jonathan has become a child’s play when compared with the present happenings in Nigeria’s oil/gas and electricity sectors.
Under this condition, the question may be asked; why won’t the youth revolt that Nigeria at independence was tipped by Global economic experts, following a study of its strides, to emerge as the most successful black nation because of its purpose-driven population and with an unbridled hunger to succeed, but today, contrary to that prediction, crawl at the base of the world’s economic pyramid? Why won’t the youths protest in a country that was in the 1960s/70 laced with splendid agriculture, immense natural resources, a fantastic GDR, a strong infrastructure, world-class universities, an awe-inspiring telecommunication system, a foremost and far-reaching television station, an excellent sport, a vibrant and formidable military, but today, ranks as the world poverty capital stripped of infrastructures? Why can’t the masses revolt in a country that has so many outstanding people in all fields of scholarship, but has for yet-to-be-identified reasons allowed the high standards the British left them to be lowered?
This development becomes even more painful when one remembers that presently in the country, going by the national bureau of statistics reports, 27.1 per cent of the nation’s workforce is unemployed, 40.8 per cent of young people aged 15-24 and 30.8 per cent of 25-34 years are out of work.
If Nigeria’s unemployed youth were its own country, says a report, it would be larger than Tunisia or Belgium.
Looking at this legion of challenges, one thing stands out. This piece is of the view that there is something fundamentally wrong with a society that does not give opportunities to its young people even when it is globally noted that youths have in the past rescued societies.
However, from what the youths are saying, it appears they have suddenly realized that the Constitution gave sovereignty to the people. That every citizen is expected to hold government stakeholders to account for the use of the resources entrusted to their care. They have remembered that the outlook is bleak and have decided to use their innovative prowess to change the narrative. Particularly as ‘the failure of the government to improve economic conditions and expand opportunities for its youngest citizens has been worsened by President Muhammadu Buhari who has presided over two recessions.
Indeed, while it is relevant for all to take hope in the youths’ capacity to enthrone a nation where we can coexist harmoniously irrespective of tribe or ethnical inclination and truly establish the egalitarian society that we have been deprived of, our leaders must not fail to remember that what the youths currently demand is good governance, and someone to nurture their potential for innovation, creativity, and self-confidence in leadership. Leaders must also recognize that ‘those who lead from the top of the pyramid end up leading only those on top, which is not how development exercise should be carried out’.
To win, therefore, the youth must be guided by the time-honoured saying that courage faces fear and masters it while cowardice represses fear and is thereby mastered by it. Courageous men never lose their zest for living even though their life situation is restless, but cowardly men overwhelmed by the uncertainties of life, lose the will to live’. This is not the time to show apathy or complacency but a period to work passionately and indefatigably to right the wrong.
Utomi Jerome-Mario is the Programme Coordinator (Media and Public Policy), Social and Economic Justice Advocacy (SEJA), a Lagos-based Non-Governmental Organization (NGO) and can be reached via [email protected]/08032725374
Feature/OPED
The Future of Payments: Key Trends to Watch in 2025
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
Feature/OPED
Ghana’s Democratic Triumph: A Call to Action for Nigeria’s 2027 Elections
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.
Feature/OPED
The Need to Promote Equality, Equity and Fairness in Nigeria’s Proposed Tax Reforms
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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