Feature/OPED
2023; Nigerian Youths as Third Force
By Jerome-Mario Chijioke Utomi
As Nigeria braces up for the 2023 general elections, many personalities, mostly of the old order, with a sprinkle of very distinguished and development-focused personalities, have indicated interest to contest for the nation’s number one position- the Presidency.
However, as this angling rages, one thing stands out; with the prevailing security challenge, the harsh economic situation in the country, a state of depression (or is it a recession) that has been designed by yet-to-be-established architects, the countdown to the next general elections appears to be comical, yet laced with trepidation. Many young Nigerians who were not of age in 2015/2019 will get the chance to vote for the first time, while those who voted last time will want to activate their dreams in another call for change; this time for the better.
After seven years of unfulfilled change/next level, the electorate, mostly the youths, should be excused if they enter 2023 with a new dream on their minds, and head to the polls with a different mentality from what they had in 2019. 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.
It can, therefore, also be safely deduced that many different strata, sectors, and sections of the country will be looking up to 2023 as a year to settle various scores – both idealistically and holistically.
Recently, the talk has been about making a point and calling for a change to the current dispensation through mild aggression, in the form of protests, rallies, sit-at-home and heated public comments.
Though 2023 will again accord Nigerians the chance to make a change through a legitimate and democratic means, tension is already up and has again heightened by the realization that the nation is still being governed by people who do not feel the pinch the common man is made to endure, or that the leaders have simply chosen to be compassionate by proxy.
Consequently, the political leaders have fractured our nation’s geography into polarised ethnosyncrasies and idiosyncrasies, all of which have led to agitations of different sorts and capacities. These have disjointed the amalgams of the country and made the nation that was once called The Giant of Africa now be referred to by friends and foes as a wobbling tripod.
Also, these developments have made 2023 a year with history in that it’s a year of elections, a year for another session of politicking when elections into various offices from the presidency down to the state Houses of Assembly are billed to hold. Most importantly, 2019 is bound to be a year in which the people’s actions and decisions will shape their political destiny and determine their socioeconomic future.
Obviously, that year will be pregnant with high hopes and has equally necessitated the need for electorates to develop an objectified oneness as well as an action plan that will aid them in taking whole. It’s a year for the masses and youths, in particular, to team up and fight the common enemy called bad leadership and its proponents. If the masses can achieve these, every other thing including restructuring shall be added unto it.
This role is pivotal because the strength of a nation is a direct result of the strength of its leaders. Everything rises and falls on leadership. This remark is visibly evident in the qualities of leaders the nation has unfortunately blessed herself with since May 1999. The result of these political miscalculations led us to rhizomes of excuses, thereby turning the country into a nation of narrative rather than action. The score cards of the present crop of leaders have visibly advertised them as being clueless, lacking in creativity and outright lack of propensity to perform.
To exit this vicious circle of mal-performance, people need reprogramming of their mindset as once the mind is enslaved, the body can never be free. To make the reorientation work, early preparation is key as once remarked he that arrives first and takes a position is at ease while he that arrives late labours.
Conventionally, 2023 may be far but viewed from political pragmatism, it is just a stone’s throw. So, this is the time for the citizens to start asking solution-providing questions as well as performing the agenda-setting roles. This is not the time to start waiting for the visitors called politicians whose visits occur once in four years and that are the electioneering period. Also, the masses have in recent elections voted based on vanity without recourse to their consciences.
The worrying side of this narrative is that this is a nation filled with a people that predominantly practice religiosity signposted with symbolism but completely bankrupt in spirituality. This attribute has always given them away without resistance to their nefarious politicians who know how to buy their consciences with paltry sums and in the end, leave them to suffer protracted neglect for four years.
This has played out for over two decades.
To, therefore, arrive at the Nigeria of our dreams, this is time to say no to this illicit incentivizing by these politicians now that the nation prepares for another round of political ultimate search come 2023. Voting based on pecuniary inducement or stomach infrastructure should be discouraged.
To make 2023 bear the anticipated political result as proposed, the people need the moral force to activate a shift in paradigm. Part of this needed strategy is the admission of the youths into their political school and calculations. The youths have watched for too long the political drama involving their nation from the political gallery.
It is time for political apprenticeship for our youths. Supporting the constitutional amendment which we hope will open the window of opportunities with the not too young to run bill waiting before our parliament should be considered as the right step in the right direction as their involvement will help soak up the mal-performance flood created by cluelessness. We have to brace up with trends as it unfolds on the world stage.
Again, enthroning upright personalities as our leaders is important as leadership is about vision and is also about creating a climate where the truth is heard and brutal force is confronted. My imagination tells me that all we have been having were not leaders but sets of opportunists that appear from the political moon, fed us with what we want to hear, win the election and that ends the political oratory and relationship till the next election year.
We obviously need to take this step as we have previously seen some of our elected officers become the reality to worry about as they became visibly determined to work across purpose with us while some of them consumed by the vertical pursuit of self-aggrandizement. Allowing this trend and expecting a different result is tantamount to insanity. For us, as a people, to break out from this vicious circle of worries and poverty, the time to cause a real change is now.
Utomi is the Programme Coordinator (Media and Public Policy), Social and Economic Justice Advocacy (SEJA), Lagos. He can be reached via [email protected]/08032725374
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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