Feature/OPED

Can Somebody Talk to Our Youths

Published

5 years ago

25/12/2019

By Okechukwu Keshi Ukegbu

The concern has formed several funeral homilies. At its height was a concern raised by a cleric in one of his funeral sermons that our society is in the fringe of witnessing a generation gap as demand for young men who are capable of siring children will be on the rise in the nearest future. This is courtesy of the increase in drug addiction by our youths.

This trend is assuming a very embarrassing dimension on daily basis and as well progressing in a geometric proportion. The list is becoming endless: tramadol, jegemi, blue tongue.Even drugs that are designed to serve some useful clinical purposes are now grossly abused such as diazepam.

The concern for the rate of drug abuse is now a bug that transcends the religious world. Recently, there was a prediction by the Drug-Free Arewa Campaign Movement that Nigeria will have a generation of mad people in the next 20 years, if the issue of drug abuse and trafficking are not addressed.

Ibrahim Yusuf, Lead Convener of the movement, made the assertion during an advocacy visit to the Kaduna State Attorney-General, Umma Hikima.

According to the Lead Convener, “The level of drug abuse in the northern region was alarming and require collective action by all stakeholders to tame it’. The group in its efforts to intensify awareness against the dangers of drug abuse and trafficking, walked along some streets of Kaduna.

One of the concerns raised by Yusuf was anything less heart-warming. “Future leaders are currently trapped by the menace of drug and substance abuse and if not rescued will give birth to a generation of mad people with unimaginable consequences”.

“Our campaign against drug trafficking and abuse intends to position youths in Northern Nigeria as leaders with capacity to emulate the excellent leadership skills of our founding fathers.

“And we can only achieve this by addressing drug abuse and free our youths from its trap.”

In additional efforts, the group is urging the attorney general to ensure that all relevant laws to stem the circulation of illicit drugs were enforced and traffickers effectively punished, so as to take the drugs off the streets. The group is also seeking partnership with the ministry of justice in creating sustained awareness among youths in the state to shun drugs and live decent lives.

The group says it has reached out to 23 million youth across the 19 northern states and the Federal Capital Territory with information on how to avoid drug addiction or lured into drug trafficking.

The worries over drug aby in the country are coming in torrents. There is a projection that about 90 per cent of the youth population in the country are involved in one form of drug abuse or the other.

It will be recalled last year that Dr Abubakar Bagudu, consultant psychiatric with the Abubakar Tafawa Balewa University Teaching Hospital (ATBTH), Bauchi, raised an alarm that eight out of every 10 patients brought to the mental clinic of the hospital are youths who abused drugs.

Bagudu further disclosed that drug abuse among young people had led to depression and high level of suicide.

The consultant’s claim buttressed a recent World Health Organisation (WHO) report that half of all mental health cases started from age 14. The report added that most cases went undetected.

Bagudu also noted that the ugly trend has compelled the psychiatry department of the teaching hospital to create awareness among post-primary school students. It was also reported that Bauchi was among the states with a high rate of codeine abuse, translating into large turn-out of patients with mental problems in the state.

The issue of drug abuse has assumed the front-burner recently, and is as recalcitrant as Abiku, (the Ogbanje girl) in Wole Soyinka’s book, “Abiku”.

Experts have attributed reasons of drug abuse to such factors as influence of peer group pressure, in a bid to join the league of young men that make things happen in their neighbourhood. And it is made possible for the following reasons: to improve self-esteem, drug availability, accessibility, wrong prescription, and lack of drug education. The list is inexhaustible.

As stated in 1 Corinthians 15:33: “Be not deceived, evil communication corrupts good manners.” Parents have enormous responsibility in this direction, by influencing to a greater extent the companies their children and wards keep. This approach will go a long way in checking drug addiction among our youths.

Another disheartening factor is the poor manner in which the circulation of drugs is regulated in the country. This trend has facilitated the proliferation of “prescription drugs” in the open market. The trend has degenerated to the level that drugs that require doctor’s prescription before dispensing are freely sold in the open market.

In well-organised climes, certain drugs do not circulate widely, except “over the counter” (OTC) drugs. In Nigeria, the situation has degenerated to the extent that the circulation and proliferation of drugs, such as Tramadol, has assumed a geometric rate, while the consumption of the substance may have assumed arithmetical progression. In every street corner in urban centres and villages now, Tramadol is sold and consumed without recourse to its consequence.

Clinically, Tramadol serves as a pain relief. But today, it is abused and its use has been expanded to other areas, such as to enhance productivity in menial labour and sexual enhancement.

According to experts, an abuse or prolonged use of Tramadol exposes the user to psychotic consequences. That is to say that in the nearest future, Bagudu’s observation will be a child’s play, considering the large number of youths nationwide that will parade the streets insane.

The consequence for prolonged or abuse of Tramadol does not begin and end with psychotic effects. Indeed, its abuse is a disaster begging for urgent attention. In few years, an army of youths that are unproductive or less productive will be unleashed on the society. To stretch the argument further, the society will also be populated with youths who are sexually inactive, because most of the vital organs in their bodies might have been severely devastated.

Another crucial question begging for answer is: How did we degenerate to this abysmal level? Findings in some states have shown that the drug, which is now ravaging most of our rural communities, was imported and introduced by some migrant farmers hired by locals to help them in their cassava and yam farms. Although some believe the purposes for which the farmers were using the drug and that which the local youths have embraced the substance differs, every un-prescribed usage is tantamount to abuse.

To halt the wide circulation of Tramadol, especially in our rural communities, it has been strongly suggested that sources should be mopped up. That is to say that these illegal outlets through which the substance is circulated ought to be identified and closed.

It is suggested that the Abia State chapter of the Pharmaceutical Society of Nigeria (PSN), should reinforce an earlier measure whereby various drug outlets in the open market were to be shot down. At the extreme, a similar fate suffered by Codeine recently, due to its abuse, be slammed on Tramadol by banning it. Besides, it will not be out of place to suggest that the various agents of socialisation, the orientation agencies, and the anti- drug agencies have crucial roles to play in such exercise.

The cheering news is that Abia State Orientation Agency, God willing, next year is pioneering similar efforts in the North this side of the country. The agency has articulated efforts to disabuse the minds of Abia youths against drug abuse. Other things being equal, if those efforts are successfully implemented, the number of drug addicts in the state will be remarkably reduced.

Indeed, drug abuse is an ill wind that blows no one good. Therefore, every hand must be on deck to put the menace at bay

Feature/OPED

The Future of Payments: Key Trends to Watch in 2025

Published

3 days ago

09/12/2024

Business Post Contributor

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

Published

3 days ago

09/12/2024

Business Post Contributor

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

Published

4 days ago

08/12/2024

Business Post Contributor

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.