Feature/OPED
International Youth Day 2022 and Nigerian Youth Ordeals
By Jerome-Mario Chijioke Utomi
Friday, August 12, 2022, is a very important date in the global calendar. It is a day that the global community sets aside to celebrate this year’s International Youth Day. The important purpose of this annual celebration, going to information from the United Nations (UN), is to among other things raise voices against any injustice or discrimination happening in the world against the youth. Again, going by available records, International Youth Day was recognized by the United Nations when they passed a resolution towards creating it in 1999 at the United Nations General Assembly. This day came into existence with the recommendation of the World Conference of Ministers and they are responsible for 12th August being declared as International Youth Day.
Essentially, there was a need for this day because a very large amount of youth in the world are struggling with issues related to physical or mental health, education and employment and thus all these issues need to be addressed. When the government or society does not focus on the proper development of the youth, they tend to become rebellious and many times they can opt for the choices which are neither good for their development nor for their country.
Certainly, the global community uses workshops, concerts, conferences, cultural events, seminars and meetings involving national and local government officials and youth organizations to celebrate the day while recognizing the contributions of young people and volunteers who are working towards the betterment of the society and are raising important issues that need more attention of the society, there are, however, painful signs that the situation back here in the country says instead of celebrating, the average Nigerian youth is currently in a state of frustration.
From commentaries, the frustration of these young victims of our nation’s socioeconomic challenge was not only fuelled by the gap between the extravagant promises made in the past by the government without fulfilment but predicated on the ills that flow from bad leadership which daily manifests in the tradition of leading without recourse to transparency and accountability. And as a consequence, ‘stifles development, siphons all scarce resources that could improve infrastructure, bolster education systems and strengthen public health and stack the deck against the poor masses.
To explain this position, a recent report from the National Bureau of Statistics (NBS), reveals that in the second-quarter Q2:2020 unemployment rate among young people (15-34 years old) was 34.9%, up from 29.7%, while the rate of underemployment for the same age group rose to 28.2% from 25.7% in Q3, 2018. These rates were the highest when compared to other age groupings. Nigeria’s youth population eligible to work is about 40 million out of which only 14.7 million are fully employed and another 11.2 million are unemployed.
For a better understanding of where this piece is headed, youth in every society, says a study report, has the potential to stimulate economic growth, social progress and our all-national development. The strategic role of youths in the development of different societies of the world such as Cuba, Libya, China, Russia and Israel is obvious.
Youth unemployment is potentially dangerous as it sends a signal to all segments of Nigerian society. Here in Nigeria, the rate of youth unemployment is high, even during the period of economic normalcy i.e. the oil boom of the 1970s (6.2%); 1980s (9.8%) and 1990s (11.5%). Youth unemployment, therefore, is not a recent phenomenon. But if what happened in the 1980s/90s was a challenge of sorts, what is happening presently, going by the latest report by the National Bureau of Statistics (NBS), is a challenge. This and many other concerns have expectedly caused divided opinion and a proliferation of solutions.
From the above, it is obvious that ‘we are in a dire state of strait because unemployment has diverse implications. Security-wise, the large unemployed youth population is a threat to the security of the few that are employed. Any transformation agenda that does not have job creation at the centre of its programme will take us nowhere.’
From unemployment challenges to the poor education sector, it is accurately documented that many Nigerian children are out of school not because they are not willing to be educated but because the cost of education is beyond the reach of their parents. The public schools are short of teachers with dilapidated buildings. Private schools on the other hand where the environment is conducive to learning are cost-intensive and out of reach of so many students and their parents.
In like manner, the Academic Staff Union of Universities (ASUU) has been on strike since February 14, 2022. The group embarked on such industrial action to protest the government’s inability to implement their demands on salaries and allowances of lecturers, and improved funding for universities.
The implication is that for the past six months and counting, these youths have been idling away at home and the Federal Government has not considered the damage such failures impose on this future strength of the nation that their generation will provide the next leaders.
Now, looking at the above painful account, and considering the fact that the nation Nigeria races to the 2023 general election, the question(s) may be asked; how far can the youth go in a nation where tribal loyalty is stronger than our common sense of nationhood? Can the youth effectively guard their courage? How far can the youths go as change agents in a country where excruciating poverty and starvation continue to drive more people into the ranks of beggars, whose desperate struggle for bread renders them insensible to all feelings of decency and self-respect? Or in a society where the majority of the youths can easily be induced to work across purpose and in a political space where a high density of the youth’s population resides in various villages with no access to information or livelihood? Can they truly create any impact? Or remain united for a very long time.
While the answer(s) to these questions is being awaited, the truth must be told to the effect that to make this year’s world youth day rewarding as well as change this trend, and achieve the objective of engaging youth in formal political mechanisms, increase the fairness of political processes by reducing democratic deficits, contributes to better and more sustainable policies which have symbolic importance that can further contribute to restoring trust in public institutions, especially among youth, there are inescapable actions that the youths must take, there are steps/action plans that Nigerian youths must execute.
Separate from constructively and sustainably engaging the Federal Government, It will not in any way be described as out of place if the youths harness their population advantage and their demographic dividends to form a formidable opposition that holds the government accountable or better still seek political offices come 2023 general election.
Supporting this position is Section 39(1) of the 1999 Constitution adopted from Article 19 of the Universal Declaration of Human Rights (UN, 1948) which gives everyone the right to freedom of opinion and expression. The youth must also access the power of the press as Section 22 stipulates that “the press, radio, television and other agencies of the mass media shall, at all times, be free to upload the fundamental objectives contained in this Chapter [Chapter IV: Fundamental Rights] and uphold the responsibility and accountability of the Government to the people”, which has been emboldened by the Freedom of Information Act, 2011.
It is important that Nigerian youths continue to speak up against violations of human rights, suppression of free speech and freedom of the press. Unlike their elders, youths must not initiate, encourage or spread false, mischievous or divisive information capable, or with outright intent, of misleading the populace and disrupting societal harmony and peace. Within the ambience of the law, they must speak up with facts against any wrongdoing or oppression by the government or fellow citizens capable of endangering sustainable democracy and the effective delivery of good governance.
They (youths) should view as evil the argument by political deconstructionists that Nigerian youths must face difficulties as there is no nation where each has his/her own job and house, and where all children receive as much education as their minds can absorb. This claim is not only ‘rationally inexplicable but morally unjustifiable. It is a fact that government lacks the capacity to fix socioeconomic challenges alone. But any government with goodwill and sincerity to save and serve the people must develop creative and innovative channels to promote sustained and inclusive economic growth, social development, environmental protection and job creation.
Also, Nigerians are in agreement that the law is the supreme instrument of the state which must be respected and no one is above the law. This particular fact, if well understood, will assist the youths to comprehend that as citizens, they are constitutionally eligible to vote and be voted for.
Utomi Jerome-Mario is the Programme Coordinator (Media and Public Policy), Social and Economic Justice Advocacy (SEJA), a Lagos-based Non-Governmental Organization (NGO). He can 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.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking6 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN