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Preventing Youths Restiveness

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EndSARS Youths Restiveness

By Jerome-Mario Utomi

At about midnight on Thursday, December 31, 2020, Nigerians joined the rest of the world to witness the departure of the year 2020 and within the same space, observed the arrival of the year 2021.

Both events were greeted with an aura of jubilation. However, while I tried like others, to savour the arrival of the New Year and its anticipated promises, the memories of two separate but related events that are Nigeria-specific not only came flooding but gazed on my face.

The first was the shadowy but scary spirit of the #EndSARS protest, particularly the incident of Tuesday, October 20, 2020, at the Lekki tollgate where scores of protesters, according to media reports, were shot as shooters believed to be personnel of the Nigerian military opened fire on hundreds of youths keeping vigil to demand an end to police brutality, an interplay that the world has since agreed was a grievous blunder and a sin both the Lagos state and federal governments will continue to share in its guilt.

The second has to do with the memory of an intervention I made in August 2017, entitled Nigerian youth; celebrated abroad, despised at home.

Refreshing our minds, the piece among other remarks, narrated how a good number of talented Nigeria youths occupy enviable positions at the global stage; back home, disheartening see these same youths of ours helplessly relegated to and made to watch the political and leadership affairs of their nation from the political gallery.

Even as the piece pointed on how political class employs different strategies to ensure that the doors leading to the “power arena” remains perpetually shut against the youths, it submitted that unless something theatrical is done to change the narrative, the nation will continue to ‘lose’ these young Nigerians that will provide the future leadership needs of our nation to countries such as the United States of America (USA), Canada and South Africa.

Unfortunately, about 3 years after that warning signal was dispatched, the nation is still in perpetual search for the most appropriate style for creating rancour-free relationships between the leaders and youths in ways that will render future conflicts unnecessary, just as opinions are heavily divided on whether youths should be allowed to go through the nation’s political leadership apprenticeship.

As an illustration, as a way of forestalling another #EndSARS experience in the country, some have suggested and called on political leaders to develop ‘relationship-oriented leadership style’. To others, especially development professionals, they insist that the best way to averting future resentments by the youths is through the provision of good governance via generation of people-friendly policies, engineering of public leadership apprenticeship for the youths that ‘involves task-orientation, clear leadership objective and creation of shared awareness of dimensions of the task and provide monitoring and feedback’.

Whatever may be the true situation, it is the opinion of this piece that the need to find a solution to youths’ restiveness in the country urgent as they are must be holistic in approach and the most constructive way to achieve this purpose is the adoption of steps that will put the youths in a positive mood.

The reason is obvious. According to a large body of research, people in a positive mood tend to be not only more optimistic but also more forgiving of others and creative in seeking solutions. A positive mode triggers a more accurate perception of others’ argument because people in a good mood tend to relax their defensive barriers and so they can listen more effectively.

From this revelation flows another set of questions.

How can the nation achieve this demand when the present political practice does not engage the best minds in our country to help get the answers and deploy the resources we need to move into the future? When people with networks of influence, their knowledge, and their resources necessary for creating the capacity for shared intelligence that we need to solve the problems are kept out of government?

Certainly, it is glaring from the above that if unleashing our collective productivity, reclaim, revitalize and save the youths from incessant restiveness is part of our objective as a nation, then it again demands more reforms and concrete action from all but more especially from the government; federal, state and local governments alike.

Beginning with the government, we must as a nation recognize that ‘the traditional progressive solution to problems that involve a lack of participation by citizens in civic and democratic processes is to redouble their emphasis on education. And education is, in fact, an extremely valuable strategy for solving many of society’s ills.

In an age where information has more economic value than ever before, it is obvious that education should have a higher national priority. It is also clear that democracies are more likely to succeed when there is widespread access to high-quality education’.

Education alone, however, is necessary but insufficient. A well-educated citizenry is more likely to be a well-informed citizenry, but any education or transformation agenda that does not have job creation at the centre of its programme will take us nowhere. Apart from the reality that unemployment naturally leads to frustration, no nation can have the unemployment challenge similar to what is here in the country without experiencing youth restiveness.

Take the National Bureau of Statistics (NBS) published Q2: 2020 labour statistics as an example. The data revealed that Nigeria’s second-quarter 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.

Instead of our political office seekers giving youths arms during electioneering, this should be the time to give the youths work and insist that they work for bread.

What about the family? This is the time for parents to recognize that for a nation to make progress and enjoy relative peace, it must depend on the strength and influence of the family, hard work and respect for elders and love for scholarship and learning to keep the society orderly as these values make for a productive people and help economic growth.

To catalyse the process of enshrining national unity and concord, the time is ripe for the federal government to overtly declare their willingness/resolve to respect human rights and take positive action to facilitate the enjoyment of those rights by her citizens.

Lastly, it is our collective responsibility not to destroy this great nation but to join hands to nurture and sustain it. If we are able to manage this situation and other social menaces effectively and navigate out of dangers of disintegration, it will once again announce the arrival of a brand new great nation where peace and love shall reign supreme.

But if we fail in this direction, it will again render the recent declaration by the presidency that it will no longer allow a repeat of #EndSARS protest experience as gospel without the truth or a mere declaration of intent as no nation enjoys durable peace without justice and stability without fairness and equity.

Jerome-Mario Utomi is the Programme Coordinator (Media and Public Policy), Social and Economic Justice Advocacy (SEJA), Lagos.

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Islamic Estate Planning: Protect Your Family and Leave a Legacy

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Islamic Estate Planning

By FBNQuest

Islamic estate planning involves the distribution of your assets that serve to preserve, manage, and distribute them after death according to the principles of the Shari’ah.

According to the Islamic ordinance, those principles are significant in planning for dependents and represent an investment in the afterlife.

Islamic inheritance laws organise your wealth ownership and assets to ensure fairness and justice after your passing. Instead of leaving the tough decisions to grieving family members, you can arrange the gifting of your assets in advance. This creates a streamlined process for the distribution of the inheritance to all family members.

Islamic estate planning is essential in the life of Muslim faithful. Indeed, if you pass away as a Muslim without a proper plan for your assets, you may be breaching the bequest guidance stated in the Holy Book, which serves as an instruction manual for a Muslim’s life.

However, many are not concerned with making an inheritance plan, even though a failure to make one could trigger intense family debate and hinder the transfer of some assets to specific beneficiaries.

According to the guiding principles of Islamic estate planning, after covering the funeral expenses and debts owed by the deceased, a person may designate up to one-third of their wealth.

This discretionary giving is known as the Wasiyyah. However, there are limitations to this discretionary giving.

For example, Wasiyyah cannot be given to someone already receiving a share under the Islamic inheritance laws. The Wasiyyah is most commonly given to charity or to care for distant relatives who cannot provide for themselves.

The residual two-thirds is the Mirath and is reserved for the Islamic heirs as ordained in the Holy Book. Primary beneficiaries are those who will inherit some of your wealth, provided that they are alive and Muslim. These are your spouse, children, and parents, and they receive a fixed share of the wealth.

Secondary beneficiaries are those whose share of the inheritance is contingent on whether other primary beneficiaries are still alive. These may include siblings, grandparents, grandchildren, aunts, uncles, and other relatives. It is vital to appreciate the rights and obligations relating to an estate.

In preparing to bequeath an inheritance, it is crucial to organise your wealth in a manner that will make assets acceptable for consideration in an Islamic estate plan.

In this regard, investments should be screened for compliance with Islamic estate ethics, and investments in interest-bearing assets are disqualified.

Instead, it would help if you endeavoured to invest in increasingly popular Sukuk bonds. You should consider Mudarabah Investment accounts as substitutes to fixed deposit accounts and subscribe to a family takaful policy instead of a life insurance policy in your saving plans.

As for pension assets, you should opt for a multi-fund structure with an option to invest in Shari’ah-compliant instruments.

Zakat, the third pillar of Islam, is a compulsory giving required from every financially stable Muslim. Those who have acquired wealth are obligated to respond to people in need and give back to the community. This response could include sponsoring widows or the education students and organising in a charitable Trust as part of an Islamic estate plan.

Therefore, you must consult a professional estate planner to assist with setting up a Trust arrangement where 2.5% of your assets/wealth is set aside annually for Zakat.

Several other tools can be used to organise the transfer of assets to a specific beneficiary. They include Hiba (making gifts), Waqf (setting up an endowment or trust), Wasiyya (transfers by donation), and it is appointing a Wasi or guardian for living dependents. Getting it right requires a thorough understanding of the principles of Islamic estate planning and the various assets available to achieve compliance.

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Governor Okowa’s 2023 Presidency; an Objective Analysis

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Governor Okowa's 2023 Presidency

By Jerome-Mario Utomi

This piece stemmed from three recent developments in the country. First is the latest argument by development minded Nigerians that the nation’s perennial leadership haemorrhage/crisis is aggregated by a successive deficiency in leadership vision and in some cases made worse by public officials’ understanding and interpretation of problems with clarity but lacking in political will to see through or implement solutions. A development that has made the nation in dire need of a system that works, a government that caters for its citizens, especially the youths, secures lives and property while bolstering the economy.

The second and very germane is the Southern Governors Forum insistence that the presidency must shift to the southern part of the country come 2023, coupled with the recent decision by the main opposition party in Nigeria, the Peoples Democratic Party (PDP), to zone the position of the national chairman of the party to the north.

As we know, it is a political principle embraced by major political parties in Nigeria that each time the national chairman of a political party emerges from the north, the presidential candidate of the same party, usually, emerges from the south where the likes of Governor Ifeanyi Okowa of Delta State hails from.

Thirdly and most essential has to do with the fresh call by the Minority Leader of the House of Representatives, Mr Ndudi Elumelu, on Mr Okowa to contest for the presidency of the country in 2023.

The Minority Leader, who spoke at the installation of Rotary Club’s 2nd President for 2021/2022 Rotary Club Year (Club of Asaba Downtown District 9141), pointed out that Governor Okowa should serve as the President of the nation so that he can replicate his achievements in massive infrastructural and human capital development in Delta State at the national level.

He stressed that Governor Okowa was endowed with the capacity and proficiency to rescue the nation from the misrule of the All Progressives Congress (APC) and reposition her to the path of peace, unity and economic prosperity.

“I must commend Governor Okowa for his selfless service and sacrifices that have led to unprecedented massive infrastructural development in our dear state as well as a better living standard for our people.

“Governor Okowa is a rare gift not only to Delta State but also to our nation Nigeria, at large. I firmly hold that he is endowed with the capacity and proficiency to serve our nation at the topmost level so that he can replicate the successes recorded in our state at the national level.

“I sincerely call on him to make him available to serve the nation again. He deserves to be the president of this country, come 2023,” Elumelu stated.

However, despite the popularity of this opinion, it will be antithetical to support a movement based on sentiment or allow sentiment to determine our actions. Therefore, in line with the Christian Holy Book, the Bible, admonished in 1 John 4; 1 that we do not believe every spirit, but test the spirits to see whether they are from God because many false prophets have gone out into the world.

It will, for reasons, be of considerable significance to place this call under objective analysis to fundamentally help electorates make informed decisions ‘as the ignorance of one voter in a democracy impairs the security of all’.

To perform this function well, it will necessitate the following posers; Is Governor Okowa capped with vital leadership capacity needed to tame the nation’s perennial ‘leadership haemorrhage/crisis aggregated by a successive deficiency in leadership vision and made worse by public official’s understanding and interpretation of problems with clarity but lacking in political will to see through or implement solutions? Has Governor Okowa truly achieved massive infrastructural and human capital development in Delta State? Has he indeed and in truth demonstrated selfless service and sacrifices as claimed by Mr Elumelu?

Again, going by Elumelu’s claim, another question would be at the federal level, are there signs of misrules on the part of the APC led federal government that calls for Okowa’s attention to reposition the nation to the path of peace, unity and economic prosperity?

Again, on May 29, 2015, amidst cheers and jubilation from the marmot crowd that attended his swearing-in ceremony at the Cenotaph in Asaba, Okowa, going by media reports, told his audience that, “As a government, we are committed to the building and consolidation of a state in which there shall be more employment opportunities, a flourishing agriculture and agribusiness sector, effective health and educational systems, renewed urban infrastructure and enhanced security and peace to bolster economic growth and development.”

Now, looking at the past six years of his administration, it will elicit the question as to how well has the Governor brought these promises to fruition? Also, at the national level, how relevant is Governor Okowa when it comes to issues of national urgent importance? As the current Governor of Delta State, what particulars can Okowa led government point at to convince Nigerians that he can effectively administer the federation?

In providing answers to these nagging questions beginning with the last question, it must be fundamentally underlined that separate from the fact that Delta State, to use the words of Governor Okowa, is a microcosm of Nigeria because she is populated by different ethnic nationalities and has had inter-ethnic conflicts/clashes, fatal boundary disputes, especially over oil-bearing land, and political tensions, a case that in my views qualifies a governor of such state to effectively lead the federation, Governor Okowa, as subsequent paragraph will show, since assumption of office on May 29, 2015, demonstrated that for the leader to distinguish himself, he has to be a shining light and as such, he should be in a position to break the retrogressive tendencies that subsist in doing what one does not wish to do.

To capture this claim well, this piece will further x-ray/classify the achievements of Governor Okowa’s administration into two.

First, achievements at the state levels which has to do with policy objectives/programmes implementation aimed at creating jobs and wealth (wealth creation and employment generation), economic diversification, the democratization of the education sector, infrastructural development, re-jigging/provision of the state’s security architecture in the state, engagement of the youths in productive enterprise, nurture of entrepreneurs and leaders, promotion of communal peace and development of a database of employment and unemployed youths for planning purposes. The second focuses on his unrelenting nation-building efforts at the federal level.

Evidence abounds that the Governor in pursuance of these objectives compressed his programmes into a five-point agenda which is encapsulated in the acronym SMART.

The SMART agenda means Strategic wealth creation projects and provision of jobs for all Deltans; Meaningful peacebuilding platforms aimed at political and social harmony; Agricultural reforms and accelerated industrialization; Relevant health and educational policies and; Transformed environment through urban renewal.

Take the wealth creation and employment generation, as an illustration, the Governor himself recently but succulently captured his achievements in this way; “we have a deliberate policy to tackle youth unemployment through skills training and entrepreneurship development programmes. I believe that the way out of the unemployment quagmire is to equip the youth with the technical know-how, vocational skills, values and resources to become self-employed, as distinct from one-off empowerment. This is what my administration has done by instituting various skills training and entrepreneurship development programmes, which include: Skills Training and Entrepreneurship Programme (STEP); Youth Agricultural Entrepreneurs Programme (YAGEP); Graduate Employment Enhancement Programme (GEEP); Rural Youth Skills Acquisition Programme (RYSA); Girls Entrepreneurship Skills Training (GEST); and Women Entrepreneurship Skills Acquisition Programme (WESAP).”

These programmes he said are trainee-centred and service-oriented. The sectors and activities covered include agriculture, agricultural value chain services, vocational skills-based microenterprises and cottage enterprises.

Furthermore, the training and mentoring processes aim beyond raising entrepreneurs to produce leaders and managers that have high levels of personal responsibility and effectiveness. I am pleased to let you know that after six years of faithful implementation of these programmes, we have trained and given business support packages to several thousands of youths.

Following the success of these interventions and other efforts in promoting technical education, Delta State was ranked the Best State in Human Capital Development in the 2017 States Peer Review by the National Competitiveness Council of Nigeria.

Also in 2020, Delta was adjudged to be the Second Least Poor State, coming only after Lagos, Nigeria’s business hub, according to the Nigerian Bureau of Statistics (NBS).

From the above observations, it is obvious that he (Okowa) in my view is a Presidential material the nation needs to exit the unemployment crisis and economic retardation. However, in order not to be accused of indulging in hasty conclusions, this piece will go beyond the Governor’s wealth creation and employment generation prowess, to x-ray his efforts in other sectors.

To Be Continued.

Jerome-Mario Utomi is the Programme Coordinator (Media and Public Policy), Social and Economic Justice Advocacy (SEJA), Lagos. He could be reached via jeromeutomi@yahoo.com/08032725374.

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The Effects of Home Loans on the Cost of Living Post-COVID

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Home Loans on the Cost of Living

COVID-19 has been a disaster for many people globally, one reason being the effect of the pandemic on the cost of living.

As the cost of living is rising while wages remain stagnant, it’s becoming apparent that many people are struggling to pay off their existing commitments. As a result of such obligations, more and more people seek refinancing options to lower their mortgage rates and reduce monthly expenses.

This post will cover how COVID-19 has affected home loan rates and the part it plays in the rising cost of living.

How Has COVID-19 Stressed Out The World Economies?

While it’s inevitable that no country can escape the effects of a global pandemic, some countries have weathered the storm better than others. For example, as you can see in the image above by Compare The Market Refinance Quotes, the US, Australia, and Denmark seem to be the least financially stressed of world economies, with manageable home loan rates being a significant factor. This has allowed these countries to cope with the negative effects that COVID-19 has had on the cost of living.

Other countries may be able to copy the decisions made by these governments to help restore their economies. Nevertheless, many individuals of these countries and others still find it challenging to pay their bank loans and mortgages.

How Are Home Loans Affecting The Cost Of Living Post-COVID-19?

In March 2020, many countries worldwide implemented a debt moratorium to alleviate household debt burdens due to the coronavirus pandemic. These moratoriums have already expired in many places, which raises some tough questions regarding what additional policies should be adopted to address the pandemic’s lingering effects.

With people facing the challenge of prioritizing their payments, especially when considering the rapid increase in inflation that many countries are experiencing, many have turned to various financial tools such as refinancing to get them through these difficult times.

What Is Loan Refinancing?

Loan refinancing is when you take out a new loan to replace the old one. There are many reasons why you might want to refinance your loans; you may not be happy with how much money you are spending each month on your monthly payments, or maybe you have another loan with a higher interest rate that will save you money in the long run. In these uncertain times, refinancing is becoming more popular.

However, it’s important to note that refinancing only works if you have good credit and still owe some of the original balance of your original loan. Not all types of loans can be refinanced, but here are five loan types can:

  • Student loans
  • Credit card balances
  • Auto loans
  • Mortgage
  • Various bank loans

In conclusion, the effects of home loans on the cost of living are pretty significant for many people, not just in the US but also worldwide. This has caused many to use refinancing as the cost of inflation rises.

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