Feature/OPED
Ekiti State A Toddler @ 25? Nope. Objection My Lord!
By John Ajayi
Recently, Ekiti State celebrated 25 years of its creation by the then military junta of late General Sani Abacha. Coincidentally, the celebration which continues to generate excitement and euphoria amongst the citizens of the state appears to be a foretaste of the huge celebration in the work for the third year anniversary of the administration of Dr John Olukayode Fayemi.
As usual, this epochal event has drawn unwarranted flaks from some critical elements and stakeholders in the state. Indeed these criticisms are not unexpected, especially in a democratic society and more importantly, given the different political leanings and ideological configuration of these personalities and stakeholders.
Aside from the fact that the constitution of the Federal Republic of Nigeria guarantees everyone the right and freedom of speech, it is an indisputable fact of life that there will always be divergent views amongst the citizens of the state notwithstanding its homogenous nature.
Not only that, the state which boasts of the highest population of highly educated people with a historic record of renowned PhD holders and seasoned lawyers, professionals and accomplished technocrats, the issue of governance and leadership contestation cannot but become a matter for critical review and evaluation. This is also coming against the backdrop of the fact that Ekiti indigenes are generally perceived to be fastidious in nature. Here, no negativism is intended about the good-natured people of Ekiti State to which yours truly belongs in flesh and in blood!
Nonetheless rolling out the drums and popping champagne in celebration of 25 years of the creation of the state by the current Executive Governor, Dr John Olukayode Fayemi administration cannot be said to be a mere jamboree nor a misplaced priority. Ordinarily, age 25 has come to be recognised universally as a landmark epoch in the life of individuals, institutions, organisations, states or nations. Generally regarded as Silver Jubilee or quadricentennial anniversary, the 25th anniversary of any living being, be it state or human is unarguably a watershed.
However, in evaluating and assessing the state of growth and development of Ekiti State in this near three decades of existence, it will be grossly unfair to assume or outrightly write off the state as a failure. While the state may not have fully lived up to the expectations of its founding fathers, it does not necessarily presuppose that the state has not achieved anything since its creation.
Particularly disappointing, if not completely unfair, on the part of successive administrations of the state is the castigation of the state as a ‘Toddler at 25. Reviewing the state of affairs of Ekiti State in the last 25 years, elder statesman and founder of Afe Babalola University (ABUAD) Ado Ekiti, Aare Afe Babalola had said that Ekiti State had nothing to celebrate. The highly revered lawyer and one of the founding fathers of Ekiti had in a widely published press statement titled ‘Ekiti State A toddler @ 25’ castigated the State as landlocked, airport locked, industry locked, and power locked, adding that all these developments adversely affect economic development in the state.
While the elder statesman reserves the right to express his views and frustrations about the state he contributed to mid-wife, the objective reality on the ground as far as developments are concerned, be it political, economic social or whatever does not in any way warrant or justify these assertions and lamentations. This is particularly so because successive administrations in the state have all contributed their own quotas to the growth and development of the state.
Since its creation, October 1, 1996, the state has been administered by both military and civilian administrators each with its own unique style and approach to governance. Like an organic being, Ekiti State is clearly still a work in progress. For a fact, the founding fathers of the state may have had a utopian perception of the developments to expect within a particular time frame, the actual reality about governance may not and cannot be said to be the same with the imaginations and expectations of the founding fathers.
This is not to say that there are no shortcomings on past and present political leaders and administrators of the state. Indeed, this cannot be said to be an unusual development as it is a phenomenon in underdeveloped, developing and developed nations. For those who may not know, the present administration of Governor Kayode Fayemi has done significantly well in positioning the state well above its peers when it comes to development in all aspects and ramifications. Feelers emanating from the state revealed that the JKF administrations which will soon kick-start activities marking the third year of his second term tenure were not planning any jamboree other than projects commissioning and new projects unveiling.
Like all humans, Dr Kayode Fayemi may have his shortcomings, it is indisputable that he remains a blessing and a gift to the state not only as the current Chief Executive Officer of the State but also a very good ambassador of Ekiti State as a major political actor on both national and global political space. His tenure so far as Chairman of the Nigerian Governors Forum (NGF) bears eloquent testimony to his intellectual sagacity and political wizardry. For JKF, the former United States Supreme Court Justice Oliver Wendell Holmes appeared right and justifiable in his famous and immortal quote when he said: “there are people who make things happen, and there are people who watch what’s happening and there are people who have not the slightest idea what’s happening”.
So far, an objective review of past administrations in Ekiti will readily confirm the fact that Dr John Olukayode Fayemi is a leader who makes things happen and indeed has great ideas of what is happening and must happen. Since he took the mantle of leadership in the State, he has made strategic thinking the cornerstone of governance and policy direction. As a consummate politician with a progressive hue, JKF’s approach to governance has been anchored on the greater good for the greater number of his people.
The views of statesmen like Chief Deji Fasuan, former Governor Segun Oni, Senator Opeyemi Bamidele, Biodun Oyebanji, and others, were in sync with the position earlier canvassed by Governor Fayemi that Ekiti has not failed in any way in the pursuit of its development agenda.
If truth be told, in the last three years, Fayemi’s government has attracted over $100 million in investments to the state. Under this present economy, this is no mean feat and couldn’t have been regarded as a failure by any standard.
It can be appreciated that only the apolitical, who periscopes issues with unbiased spectacle could recognise and flaunt this enigmatic scorecard.
One fact must be reflected here; in 1996, Ado Ekiti city as called then, was like a glorified village without the modern touch. Today, all the major dualization of the road in Ado Ekiti done cumulatively by the administrations of Governors Fayemi, Segun Oni and Ayodele Fayose like Basiri-Ijigbo-Ajilosun, Ijigbo-Ilawe road, Post Office-Irona and Ado-Ifaki, couldn’t have been undertaken, if the state had not been created. Akure, the Ondo State capital, could have been taken as the development fulcrum, where things would be anchored and concentrated.
The new Governor’s Offices at Oke Bareke, the Secretariat at the new Iyin Road, Trade Fair Complex, Ekiti Parapo Pavilion and other government structures in Ado Ekiti metropolis, are clear evidence of modernity and gradual face-lifting of the town.
Let me also state that before 1996, Ekiti had no functional state-owned industry. The ROMACO granite company at Igbemo, Ikun Dairy farm at Ikun, Ire Burnt Brick at Ire Ekiti and Orin Farm settlement at Orin Ekiti, were all moribund. But with shrewd and dexterous management by Fayemi, the derelict companies are bouncing back to reckoning.
For Ikun Dairy farm to be revamped, the government, in partnership with Promasidor Nigeria Limited, spent a sum of $5 million to import cows and purchased other machines. At an optimal production level, the company will produce 10,000 litres of milk daily. This will go a long way in generating employments and fortify the State’s revenue profile.
Deploying his nexus with the international community, Governor Fayemi had partnered with private companies to manage the ROMACO and Ikun Dairy Farm for effective management and they are gradually being revamped.
One of the catalysts of good governance is a functional and robust local government structure. When the third tier of government is closer, it makes development spiral and gains traction.
Before 1996, Ekiti had six local governments of Ero, Ekiti East, Ekiti South, Ekiti North, Ekiti Central and Ijero. But the tally had increased to 16 statutorily recognised councils, with 19 Local Council Development Authorities established to midwife and propel development pedal at the grassroots.
In 2011, the government of President Goodluck Jonathan established 12 new Universities across the nation, with Ekiti being a beneficiary by the approval given for the establishment of the Federal University, Oye Ekiti in the state. The concept behind this was to ensure balancing so that each state could have a federal University.
It is an unassailable fact that Ekiti couldn’t have benefited from this lofty gesture if it is still subsumed under Ondo, this was because the Federal University, Akure had been in existence for decades. In a few months’ time, work would also begin on the approved Federal Medical University in Iyin Ekiti after receiving presidential assent.
As parlous and feeble as Ekiti seems to be in the area of economy, the state gets an average of N3.5 billion from the federation account monthly. These monies are expended on education, health, agriculture, human capital development and other pivotal sectors. Would it have been possible for Ondo to earmark a staggering sum of N3.5 billion on projects in Ekiti axis monthly if Ekiti still retains the six local governments which we had then? This also signifies another area of benefit that should be taken into cognisance.
This came to the fore because of the fact that Ekiti gave Governor Fayemi the veritable gubernatorial platform to prove his mettle and worth. Let the sceptics rummage the history books; no Ekiti man had ever been touted for such a coveted seat.
Added to that was the fact that Governor Fayemi is the Chairman, Nigeria’s Governors Forum, superintending over the affairs of the 36 Governors across party lines and divides. These are records that lend credence to the fact that Ekiti has gained reckoning not only as of the most educated but also as a politically sophisticated and conscious set of people.
John Ajayi is a public affairs commentator and a Lagos based journalist
Feature/OPED
The Future of Payments: Key Trends to Watch in 2025
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
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
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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