Feature/OPED
2023; Why Nigerians May Yield Obedience to Development-Minded Aspirants
By Jerome-Mario Chijioke Utomi
Taken objectively, there is no doubt that as a people, we derive more comfort, protection and security from our ethnic identity than from our common sense of nationhood. It is equally a statement of fact that during the forthcoming elections, most people will vote along sectional lines, be it religion or ethnicity, corporate world, the academia and other sectors of our national life.
Under this condition, can Nigerians truly say in both concrete and moral terms that they are united in all aspects of nationhood? If not, what is holding the nation back? Is it leadership or the people? As a people, have we made an effort to discover the promoters of a disunited Nigeria or paid a price as an individual or a group to make our national oneness a healthy one?
If leadership is the challenge, what plan/plans do Nigerians have up their sleeves to democratically upturn the present political leadership in the country, and in its place, enthrone leadership that will assist in rescuing, repositioning and rebuilding Nigeria which has been battered by the bad economy, insecurity, unemployment and other social ills by the incompetent and inept leaderships? What measures are the masses putting in place to revamp the nation that has fractured into ‘ethnosyncrasies’ and idiosyncrasies?
While answers to the above are awaited, there are, in the opinion of this intervention, hopeful signs that the forthcoming general elections in the country may produce a different result that will usher in the nation of our dreams.
The signs are there that it is not going to be business as usual. This fact partially explains why young Nigerians have lately become obedient to development-minded Nigerians.
Let’s look at these considerations.
Fundamentally, apart from myriads of socio-political contradictions that have conspired directly and indirectly to give the unenviable tag of a country in constant search of social harmony, justice, equity, equality, and peace, one contending factor/actor that will propel a different outcome is the below-average performance of the current federal government which daily manifests in areas such as; ‘continued state of insecurity in the country, the persistent and ceaseless flow of blood of Nigerians on a daily basis in many parts of Nigeria, the near-collapse of the security situation in Nigeria, their inability to manage the nation’s economy and develop the oil-rich but socioeconomically backwards Niger Delta’. Nigerians, who were initially deceived in 2015 and have remained in darkness, appear to have finally seen the light and known the truth and are getting ready for the 2023 general polls.
As an illustration, the present instinct in the country explains two things; first, apart from the fact that the shout of integrity which hitherto rend the nation’s political space has like light faded, jeer has since overtaken the cheers of political performance while fears have displaced reason -resulting in an entirely separate set of consequences – irrational hatred and division.
Admittedly, none of the current challenges (political or socioeconomic) bedevilling the nation started with this administration.
For instance, corruption is, but a human problem that has existed in some forms. Its fight also dates back to the colonial governments as they (colonial overlords) sufficiently legislated against it in the first criminal code ordinance of 1916 (No15 of 1916) which elaborately made provisions prohibiting official bribery and corruption by persons in the public service and in the judiciary.
Also, upon independence on October 1, 1960, the criminal code against corruption and abuse of office in Nigeria was in sections 98 to 116 and 404 of the code. But while the situation then may look ugly, what is going on now is even worse and frightening.
Nigerians are particularly not happy that the All Progressives Congress (APC) led federal government lavishly promised Nigerians ‘change’ and was voted to provide good and qualitative leadership; elected to bring the nation’s economy out of the woods and were chosen to bring democracy’s dividends to the people. But instead of fulfilling these promises, they visit the masses with cluelessness and utopia. Instead of reviving the comatose economy, they threw it further down into recession and instead of bringing dividends of democracy, they democratized poverty, institutionalized unemployment and governmentalized hopelessness and frustration. They are not authentic leaders but political demagogues.
As noted elsewhere, the Nigerian economy has continued to deteriorate and Nigerians have become numb and accustomed to bad economic news as exemplified by the inconsistent and differential exchange rate regime, high interest rates, unsustainable unemployment figures and borrowing spree some of which have not been applied to important projects, and other bad economic indicators.
The running of our country’s economy continues to go against the provisions of our constitution, which stipulates forcefully that the commanding heights of the economy must not be concentrated in the hands of a few people. The continuous takeover of national assets through dubious (privatization) programmes by politicians and their collaborators are deplorable and clearly against the people of Nigeria. The attempt to disengage governance from public sector control of the economy has only played into the hands of private profiteers of goods and services to the detriment of the Nigerian people.
Another deep-seated reason why Nigerians must act differently in the forthcoming general elections, as doing one thing repeatedly and expecting different results will amount to insanity, is the continued state of insecurity in the country, the persistent and ceaseless flow of Nigerians’ blood on a daily basis in many parts of Nigeria, the near-collapse of the security situation in Nigeria. The strategies to confront terrorists, kidnappers, bandits and other criminals appear to have defiled every formula.
This piece is not alone in this line of belief as a glance at a communiqué issued by one of the major opposition political parties in the country shares similar sentiment. Worthy of note is that this opposition party in question may overtly or in absolute terms not be better, but in that communiqué, the party covertly highlighted what has been on the minds of Nigerians.
It reads in parts; Mr President is unwilling, from his recent comments discountenancing the proposals for state policing, to participate in reviewing the structural problems of tackling insecurity in Nigeria.
While urging Mr President to reconsider his position and consider decentralization and restructuring of the security architecture as the most viable solution, together with proper arming, funding and training requirements for security agencies, it noted that the management of our oil and gas resources, the administration of federation account remittances have remained opaque, confusing and non-transparent.
In addition, the transition to the Nigerian National Petroleum Company (NNPC) Ltd under the Petroleum Industry Act has not been properly streamlined to ensure that the interests of all the tiers of government are protected, consistent with the 1999 Constitution.
On the state of the nation’s economy, the party added; it is clear that the APC government is a massive failure when compared with the records of the previous government. The present administration inherited a $550 billion economy (the largest in Africa), but today, Nigeria is the poverty capital of the world.
In 2015, under the previous government, the exchange rate was N198 per Dollar, it is now under APC almost N500 to a Dollar (now over N600); in 2015, the unemployment rate was 7.3% under the Goodluck Jonathan administration, it is now 33%, one of the highest in the world under APC; in 2015, the pump price of petroleum was N87 per litre, it is now N165 per litre and climbing under APC. debt servicing now under APC takes over 98% of the federal budget.
What about the education sector where over, 10.5 million children are out of school, the highest in the world. Our industries continue to bear the brunt of a negative economic environment. As a result, job losses and unemployment continue to skyrocket, creating a serious case of social dislocation for the vast majority of people.
In the final analysis, the truth, in my view, is that the people seem to have come to terms that behind every major socioeconomic and security failure in the last seven years in the country, lies a failed decision by the government at the centre, and behind every failed decision lies a government that failed its people- a government that did not carry out its duty properly.
Utomi Jerome-Mario is the Programme Coordinator (Media and Public Policy), Social and Economic Justice Advocacy (SEJA), a Lagos-based Non-Governmental Organization (NGO). 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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