Feature/OPED
Buhari, Nigerians and Misplaced Regret
By Jerome-Mario Utomi
Nigerians could argue that the entire problem (both real and probable) currently confronting the nation are caused by the inability of the present administration to effectively secure the nation and manage the nation’s resources.
From that point, the story is well known. Such an argument cannot be viewed as lacking in merit particularly as the Muhammadu Buhari led administration has no excuse for not engineering prosperity lavishly promised in 2015.
The situation becomes a crisis of the sort when one remembers that across the world; well-known leaders in the past had upon assumption of office faced a more precarious situation than what President Buhari met on ground.
Yet, such leaders were able to turn around the fortune of their nation.
Take as an illustration, in 1932, Franklin D Roosevelt, the Democratic Party candidate, United States of America was elected president in the midst of the great depression. At the time of inauguration in 1933, one-quarter of the labour force was out of a job, with many thrown into poverty. Industrial production had fallen and investments had collapsed.
But within two years of his administration, he revived the economy and moved to the next stage of his agenda. He signed the social security act which introduced the modern welfare state into the United States pension at retirement, unemployment benefits and some public health care and disability benefits. When asked how? He responded thus; “extraordinary conditions call for extraordinary remedies”
Obviously an alluring account, and a lesson that any leader desirous to serve and save his people must internalize, however, beyond this understanding, one can make a stronger case that the problem, failure/failings of the present administration in Nigeria was more related to the failure of followership than leadership.
People often dismiss such a line of thinking even when it is the truth. It is argued that ‘there is always the relationship between cause and effect, especially in efficient causality. The relationship is a relationship of participation; the cause being the whole; the effect being the part. The causal efficiency is directly proportional to the substantial perfection’.
The truth is that the inefficiency of this administration did not just start. It all started just immediately after the 2015 general elections. Despite this awareness of challenges/underperformance, Nigerians, against all known logic, during 2019, voted the administration for the second time.
So, in my view, Nigerians are to a greater extent the architect of the current challenge in the country. Tragically unique is that presently, they (Nigerians) are both the victims/causality of such political miscalculations. So, one can understand why the current regret and shout of good old days by Nigerians qualify more as misplaced.
Just before you argue with me, this piece will clarify the above claim by examining the issues, challenges and failures recorded between May 2015 – May 2019 that ordinarily should have acted as an emblematic pointer to Nigerians that there exists deeply troubling development if the administration is voted back to power.
Fundamentally, apart from the fact that the nation’s economy within the period under review(first term), and under President Buhari’s watch went into recession and unemployment/underemployment got to a galloping stage, our mind eyes tell us that President Muhammadu Buhari’s first tenure was neither impressive nor exemplary.
Rather, it was wantonly characterized by insecurity, poor strategy for development, lack of focus on sectors that will improve the conditions of living of the people, such as education, health and agriculture. Consequently, this led to the affirmation of Nigeria as the world poverty capital, a development that analysts believe has its root in the administration’s constant blame of others for failed projects and inability to live up to expectations.
It was equally obvious that within his first term in office, Mr President did not grow a democracy that guarantees social justice and promotes social mobility or take action in the following areas: strengthening the economy, tackling insecurity, job creation, and development of the power sector and massive infrastructural development.
Again, it should be clear from the summary given above that, the inability of Mr President to pick the right people as Minister and give them their rightful position, which of course is the first responsibility of a good leader, not only set the stage for the socio-economic challenges currently bedevilling the nation but has finally become an unusually costly burden for Nigeria and Nigerians.
Yet, there exists another costly mistake that has finally brought the nation to its socioeconomic knees.
It is the fact that after going through, and observing with dissatisfaction Mr President’s not too impressive or better still, below-average performance, between May 2015 and 2019, Nigerians against all known logic went ahead to have him re-elected for the second time in office.
More specifically, another event within Mr President’s first term in office that probably did more than anything else to convince Nigerians with critical interest to look differently at the out of ordered direction the administration was taking the country was Mr President appointments/constitution of his cabinet.
Aside from enjoying a long gestation period, President Buhari, in making those appointments appeared to be unmindful of the fact that the first opinion that is formed of a leader’s intelligence, according to Niccolo Machiavelli, is based on the quality of men he has around him.
For when they are competent and loyal, he can always be considered wise, because he has been able to recognize their competence and to keep them loyal. But when they are otherwise, the ruler is always open to adverse criticism because his first mistake has been in the choice of his ministers.
Still, on the appointment, the nation’s 1999 Constitution underscored the need to base all appointments on the provisions of Paragraph 8(1)(b)of Part 1 of the third schedule of the 1999 constitution, which among other provisions, clearly stipulate that the Federal Character Commission must ensure the equitable distribution of all appointments and positions at the federal levels among the federating units.
Despite the clarity of this provision, Nigerians with critical minds have observed with dismay a high magnitude of visible infringement. While recalling that any leader who disobeys the law becomes a threat to the constitution he swore to protect, they concluded that there has never been such brazen abuse of the principle as witnessed in this administration.
To avoid repetition of similar challenges in the future, particularly as the nation races toward another general election come 2023, I hold the opinion that Nigerians must recognize that at the minimum, followers’ needs to have/gain a thorough understanding of their prospective leaders and his or her context. At intervals, they need to demand, commend or contradict their leader’s goals and pressure his or her strengths and weaknesses. Evaluate his/her organizational and personal objectives; discover his/her long suits and blind spots, his preferred style of working; does he or she thrive on conflict or try to minimize it?
Definitely, without this information, there is bound to be unnecessary conflicts, misunderstandings, and other problems will be inevitable.
Jerome-Mario Utomi is the Programme Coordinator (Media and Public Policy), Social and Economic Justice Advocacy (SEJA), Lagos. He could 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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