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APC Convention: Why Oyegun Deserves Another Term

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By Ifeanyi Emeka

With the recent release of the 2019 elections timetable by the Independent National Electoral Commission (INEC), there is no doubt that the electoral battle lines had been drawn for political actors by the nation’s electoral umpire.

How events in the coming weeks and months unfold would be very intriguing because the political actors are already waiting in the wing to see the nature of activities their respective political parties are going to rollout.

However, the case of the ruling All Progressives Congress (APC) would be more interesting because Nigerians are watching to see whether the initial prediction that the political alliance that gave birth to the party would collapse as analysts and some detractors  earlier predicted and  described the political alliance as an association of strange bed fellows.

In lieu of the foregoing, it can be recalled that when the party was formed in 2013, it did not enjoy any fair or objective comment or opinion from most Nigerians because they were made to believe that the party was made up of strange bed fellows while other analysts who looked at the tough hurdles the party would have to overcome only gave it a grace of one year before it will crumble, but against every permutations and odds, the political alliance did not collapse but the party forged ahead like the eagle because it had a resilient leader whose leadership style, maturity and temperament was an inspiration to all party faithful.

Chief Oyegun’s matured and sagacious handling of sensitive party matters endeared him to both the liberals and the conservatives within the party.

Apart from leading the APC to victory in 2015, Chief John Oyegun also displayed rare leadership quality and courage which made the party accommodating and home to all and sundry. This was why after the 2015 general elections, the Oyegun-led APC still increased the numerical strength of APC Governors by three.

These are Kogi State, Edo State and Ondo State. The Oyegun-led APC also made strong inroads to the South-east and South-south regions of the country.

Today, the party has Senators and House of Representatives members from Imo State and Rivers State. The party also staged impressive performance in the last Anambra State governorship election where its candidate, Comrade Tony Nwoye came second.

From the realities on the ground coupled also with some good measures taken by the Oyegun-led National Working Committee, the party is better poised for victory in the nearest future, but the big question is who succeeds Oyegun? What leadership trait is the person bringing on board? How tested, reliable and trusted is the person?

Before answering the above questions, let me admit that the angel you know is better than the one you don’t know.

The worst mistake the APC would make and leave to regret is changing Oyegun in weeks to activities leading to the 2019 general elections.

Already, the Independent National Electoral Commission (INEC) has announced that party primaries would start from the month of August and ends by October; whereas the tenure of Chief Oyegun will be officially ending by June this year.

Now, I cannot see how the APC new Chairman will emerge in June and there would be no crisis which will cover the entire month of July because since we are in the election mood, various camps within the party would want to outsmart the other camps for favourable election results during August primary.

Better still, let’s assume there would be no post-convention crisis, I still do see how the new leader would accommodate various interest and acclimatise himself to the modus operandi of the party within July before conducting the August primary.

Another question that is very important is, who are those clamouring for Oyegun’s removal? What is their hidden interest? What agenda do they seek to implement? What is their capacity to unify the party after convention?

Before attempting to answer these questions, I want my readers to understand that every social change championed by any group is the product of the selfish agenda they seeks to pursue.

No doubt that those who want Oyegun out are those who nurse Presidential aspiration but believe that Oyegun would be the impediment that would stop their selfish agenda. These are the same folks who tried hard to highjack party machinery to their advantage which Oyegun resisted severally.

Therefore, President Buhari should resist all entrapping of the forces within the party and allow Chief Oyegun to conduct the party primaries and lead the party to another election victory in 2019.

President Buhari and his strategists should never make the mistake of bowing to internal pressure by allowing Oyegun to go. That would be a very big political suicide for the APC and the much rumoured re-election bid of the President.

As at today, there is no open faction because Oyegun knows how to neutralize them, but should the President make the mistake of allowing Oyegun to go at this critical moment when the opposition is prepared and better positioned to spring surprise, then party faithful do not need to consult any prophet before knowing the fate that will befall it at the polls.

Therefore, I suggest that Oyegun be allowed to conduct the party primaries and also stabilize it ahead of the general elections.

Mr Ifeanyi Emeka writes from Kogi State and can be reached through [email protected]

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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The Future of Payments: Key Trends to Watch in 2025

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Luke Kyohere

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

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Ghana’s Democratic Triumph: A Call to Action for Nigeria’s 2027 Elections

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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.

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The Need to Promote Equality, Equity and Fairness in Nigeria’s Proposed Tax Reforms

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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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