Feature/OPED
Why Dokpesi Should Be PDP National Chairman
By Edwin Emeka
The socio-economic and political realities in Nigeria today are telling on everyone. While some are bold enough to admit it or express their disappointments with the situation, others are still pretending that all is well or that things will soon get better. But these are hopes and expectations devoid of clear and intelligible explanations.
Governance is a process and whereby the process lacks coherent strategy, the entire process becomes susceptible to uncertainties. Whereas uncertainty is a mortal enemy to investors because investors only invest their money in economies where policies are stable, where rule of law is supreme and where catastrophic risks can be minimized and possibly foreclosed for greater productivity. So, uncertainty does not inspire confidence and does not influence positive decisions.
In the prelude to the 2015 general elections, many investors; foreign and domestic alike pulled out their investments from Nigeria. While some went to neighbouring countries where policies are more stable, others waited patiently to see what the outcome of the election would be because the pre-election rhetoric is too strong and nerve-racking.
After the elections, it happened that the candidate of the main opposition party, retired General Muhammadu Buhari won the election with a congratulatory call coming from his main challenger, Dr Goodluck Jonathan who at the time was Nigeria’s president.
After all said and done, Nigerians and investors alike waited patiently to see what policy the new government will articulate and pursue.
Six months after inauguration, there were no cabinet ministers to articulate and implement new government policies. So, investors have to wait till November to have Ministers with portfolios.
Two years after inauguration, the country still does not have clear policy that will boost investors’ confidence in the system and make them to commit their resources in to the economy which will create loss of jobs.
Because of the initial unguarded utterances of the current regime which made many to believe that it was going to pursue and implement socialist economic principles as against the known mixed economic practices, some investors who strongly believed in Nigeria and do not want to leave resorted to liquid investments as against fundamental investments.
One of the surest ways of pulling economies out of recession is by implementing the ‘Keynesian Economic Theory.’ This economic theory was developed by a ‘British Economist,’ John Maynard Keynes during the ‘Great Depression’ of the 1930’s.
Keynes, in his theory, advocated for increased government expenditures and lowering of taxes to stimulate demand and pull the global economy out of depression.
Subsequently, Keynesian economics became the economic model that could prevent economic slumps by influencing aggregate demand through activist stabilization and economic intervention policies by governments.
But instead of pursuing these economic principles to the later so as to pull the country out of recession, the current government did otherwise by saving government money and increasing taxes in the midst of great recession. The government action is a household economic principles recommended for individuals and families and not for a nation.
While the government was faltering in its economic operations, the main opposition party was embroiled in a 14-month leadership crisis which gave no hope of alternative or shadow government to the people until the landmark Supreme Court ruling which ended the 14 months leadership tussles and bestowed legitimacy on the Ahmed Makarfi led faction of the PDP.
While the two elephants of the party were fighting, ordinary Nigerians and investors bear the brunt as there were no robust and vibrant opposition party that will checkmate the activities of the ruling party. As a result, so many waters passed through the bridge unchecked and unnoticed.
Months after the Supreme Court ended the leadership tussle in the party, vibrant opposition activity is still lacking in the party as what we have is a quasi-opposition PDP. This was why the former Military Head of States, General Abdulsalami Abubakar recently tongue-lashed the party when he said: ”I must say it is very sad that you (PDP) have not played your role properly in opposition. May be you (PDP) is still suffering from the shock of defeat, but I thought at least six months down the line, it would have been enough to come out of the shock to really face the governance.”
Having conquered the shadowy phase, the next phase that will send strong message to Nigerians and at the same time rekindle hope and confidence in the economy is the viability of Nigeria’s main opposition party and this has to do with the choice of who becomes the national chairman of the party at the December convention.
Already, the party in their wisdom have zoned the two vital positions in the party to the North and the South respectively. The choice of who becomes the Presidential candidate has been zoned to the north while the chairmanship position has been zoned to the south ahead of the December convention.
However, the choice of who becomes the national chairman of the PDP matters because it is a call to national sacrifice and not a call for tea party. Also, the party need tested, trusted and verified war-horse for the epic battle that is coming in 2019. Epic battle in the sense that the PDP and the APC will be making another history; because if the PDP wins the race in 2019, it will be the first former ruling party in Nigeria reclaiming its ruling status and vice versa.
Among the individuals who have indicated interest to vie for the post of the national chairman, it is only High Chief Raymond Dokpesi that has what it takes to lead the PDP to victory in 2019. This is because, any other person will over disturb party elders, leaders and governors for fund for publicity because publicity is very expensive as it is the life blood of opposition politics in any democracy.
In fact, one of the reasons the PDP as presently constituted have not played active and vibrant opposition politics is because it lacks enough money for publicity. The PDP governors who would have funded it are having problems with the payment of workers salary and wages as well as other infrastructural challenges confronting them. But, High Chief Raymond Dokpesi already have the connection, mobilization, clout and other relevant paraphernalia as a media guru which he will deploy to the party’s advantage without putting the financial burden on party members.
Hence, whether anybody likes it or not, the APC propaganda machinery is heavily funded for any task as the case may be.
Therefore, it is only High Chief Raymond Dokpesi, a tested, trusted and seasoned media guru that even the APC with all of its propaganda machinery will still catch cold when he Sneezes that can lead the PDP to victory in 2019.
Finally, the party elders, leaders and stakeholders who truly want the PDP to return to power in 2019 should not look beyond High Chief Raymond Dokpesi for national chairmanship position of the party in the December convention.
Edwin Emeka transiently writes from Kogi State.
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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