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Nigeria’s Security, Economic Problems Self-Inflicted—General Ayoola

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General Ayoola

By Aduragbemi Omiyale

A retired Major-General in the Nigerian Army, Mr Henry Ayoola, has said the security and economic problems facing Nigeria are purely self-inflicted, noting that it was time the citizens took action rather than depending on prayers alone.

In his keynote address at the inauguration of the Africa Kingdom Business Forum Institute (AKBF-I), he recommended an “all citizens approach” to end insecurity, urging Nigerians to explore their rights to self-defence.

Mr Ayoola, while in active service, was the Chief of Defence Research and Development of the Nigerian Army and the commander of Special Task Force (STF) Operation Safe Haven in Plateau State.

At the event held in Abuja over the weekend, he said, “Yes, the security challenges! Well, one thing to say upfront is that our problems, not only security, simply put, are self-inflicted.

“We have been living like nobody is really interested in solving the problems because it’s not for lack of what to do. It’s not for lack of what to do, advice, ideas, or strategies, it just appears as this is the Eldorado some people know for Nigeria. This is our golden era, so we should allow it last.

“That’s what I see. I don’t see any palpable attempt to solve a problem. Like I said, one can easily conclude that it is self-inflicted problem.

“Not only because I know the genesis of those problems, having been a player in it myself but I think Nigerians themselves are too timid, too docile that we will just allow anything goes.

“We take everything and anything. At what point are we going to get sufficiently aroused as to rise up and solve our problems ourselves?

“I don’t know. What else do we want? Until half of us are dead or what?

“For me, self-defence, like I said, is a divine right, it’s a universal right – Article 51 of the UN charter talks about the inherent right of the individual and the collective self-defence. So, if somebody is threatening my life, I don’t have to wait until he has killed me before I respond.

“There is pre-emptive defence, which is part of self-defence. So, the ball is in our court really. Even the government is overwhelmed. So, it’s gone beyond them. It should be an all-citizens approach when everybody is ready to put an end to this nonsense we’re going through.”

Another speaker at the programme, Mr Sam Amadi, a former Chairman of the Nigerian Electricity Regulatory Commission (NERC), said the major issue facing the country was the leadership crisis.

The former Head of the Department of International Law and Jurisprudence at the Baze University, Abuja harped on the need to redefine the process through which leaders emerge in the country.

“Leadership presupposes a common vision. That means people have a vision of where they are going; they have a common understanding of the problems of Nigeria.

“Unfortunately, we have never had a common vision and a common understanding of our problem.

“Even before colonialism, our people were disparate people, different people and the colonial authorities put us together and never cared about our well-being. They put us together for their own good.

“When they left, our leaders were trapped into ethnic competition and that also led to why they didn’t build a common consensus.

“Today in America they talk of the American dream because different immigrants came together and had some degree of what America represents for them. That is the first problem of leadership in Nigeria.

“The second is: how do you recruit leaders? How do your leaders come up?

“They don’t need to be first class people but they are leaders, people who have gone through a process. If you look at countries all over the world: China, America, or Britain or any other places in the world, you see that leaders rise through a process that give those leaders some common vision about their country and some have some experience about solving problems.

“In Nigerian democracy today, leadership can emerge from anywhere. A mechanic who is doing his work can this year become Senator because the Governor likes him. So, the tide changes and people just emerge from nowhere. That’s another problem.

“The third issue is a leadership task, what should leaders be doing? So, leaders diagnose the problem, they pay attention.  Why is there unemployment? In paying attention, they find solutions,” he said.

Speaking further, the visiting Professor at the Emerald Energy Institute at the University of Port Harcourt noted that, “The fourth become implementation of that solution. If it’s a leadership that is looking for ethnicism, you won’t implement it well because some of the solutions may require you disrupting some dominance if you take some actions.

“For example, when we were building the power sector, we knew that the best thing was for us to take the power to Niger Delta where we have all the gas. But because we are a country that is consumed by geographical competition, they can’t take it to the South-South.

“We have to take some to the North Central and so on. But those ones don’t have glass again. We have to spend a lot of money to carry the gas to those places.

“That’s a simple story that tells you that there is a dysfunction in leadership because leaders are not solving problems based on the based ways of solving them. They are solving problems in a way that will align with their own strategic ethnic geopolitical needs.

“So, the Nigerian crisis is a crisis of leadership. But we should start first with a vision – what we want to be as a people, understanding our problems – where are we in history? Where are we now? Why are we trapped?

“That is why we talk about restructuring; people don’t want to hear about restructuring. It is not about changing geography or changing who collects what money. It is about changing the underlying factors that are creating the problems we want to deal with.

“So, if you don’t want to solve those underlying structural problems and you keep preaching “we’re going to be a great nation” we have been preaching before you became President, the present President is doing his best preaching. Later, another person will come and start preaching.

“They blame the Nigerian people, the youths are not working hard, the Nigerian people are divided. That’s what they are answering because we don’t have leaders who have knowledge about the problem and the process of solving those problems and have the will to execute.

“Like I said today, you need humility to say that you don’t know and seek for answers to “why is this happening? Why is the economy like this?

“Look at Nigeria, a country that is spending 89% of its revenue serving debts, not paying for them and you keep borrowing. You dedicate 40% of revenue to seek for oil where you know that you may not find oil at a time you know that oil is a wasting asset. The future is to invest in human beings to create wealth.

“So, how can such self-deception lead to leadership growth? How can it lead to country prosperity?

“We’re trapped because we leaders who not even leaders because they neither have the priestly profile of humility and compassion nor the kingly profile of effective execution. They don’t know the problem, they don’t care about the people and they cannot even execute the solutions well.”

However, Mr Amadi expressed optimism that their strategic principles will change the direction of leadership in the country, pointing out that the birth of the institute “is a right intervention and that is what I have been saying that for years.

“They are now going about, bringing people together to show them why things are not working and should them patterns that can work and building in their understanding, knowledge and ethics of leadership.

“So, we’re not talking about governors. We’re are talking about leaders in ministries, parastatals, agencies, the private sector, youth platforms, and so on.

“Leadership is diverse. What they are doing now is the right way; it’s to solve a problem by identifying the problem and providing tailor-made solutions that deal with that problem.

“And that is what this platform is doing and it’s long overdue and the people behind it are people who have built experience over the years trying to solve problems. So, we have hope that it will succeed.”

Other speakers at the occasion like the Continental Chairman Africa Kingdom Business Forum (AKBF), Mr Steve Olumuyina as well as Mr Emeka Nwankpa, agreed that prayers were not enough in dealing with the several challenges of Nigeria.

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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IPMAN Urges FG to Review Fuel Import Licences Amid Rising Petrol Prices

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Petrol Prices

By Adedapo Adesanya

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the federal government to review the fuel import licences recently issued to some marketers, saying the policy is driving up fuel prices, putting pressure on foreign exchange and creating instability in the downstream petroleum sector.

Speaking in Abuja, IPMAN’s National Publicity Secretary, Mr Chinedu Ukadike, said the current import regime has not achieved its goal of making fuel more affordable. Instead, he argued that it has encouraged the importation of more expensive petrol while increasing the country’s dependence on foreign exchange.

According to Mr Ukadike, some importers plan to sell Premium Motor Spirit (PMS), also known as petrol, for about N1,350 per litre, which is higher than the ex-depot price offered by the Dangote Petroleum Refinery.

The IPMAN official questioned the need to import fuel at higher prices when locally refined products are available at lower costs, noting that the situation has made it difficult for independent marketers to plan their businesses because import costs continue to fluctuate.

Mr Ukadike also raised concerns about the quality of some imported fuel and called on regulators to ensure that only products that meet Nigeria’s standards are allowed into the country.

The association warned that continued fuel imports also increase demand for the US Dollar since importers pay for products in foreign currency. This, the association said, puts additional pressure on the naira and contributes to higher fuel prices.

The association stressed that Nigeria should focus on supporting local refining to improve energy security and reduce reliance on imported petroleum products.

It noted that the Dangote Petroleum Refinery has helped maintain steady fuel supply despite global disruptions, including tensions in the Middle East.

According to IPMAN, greater use of locally refined fuel would reduce FX demand, strengthen the refining industry, create jobs and improve economic stability. It also said producing enough fuel for local consumption while exporting excess output would help Nigeria earn more foreign exchange.

The association called on the federal government, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian National Petroleum Company (NNPC) Limited and the Presidential Committee on downstream reforms to engage stakeholders and adopt policies that support domestic refining.

IPMAN said strengthening local refining remains the best long-term solution for affordable fuel, stable supply and improved energy security in Nigeria.

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NAICOM Insists July 31 Insurance Recapitalisation Deadline Sacrosanct

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NAICOM Conplaint Management Portal

By Adedapo Adesanya

The National Insurance Commission (NAICOM) has reiterated that the July 31, 2026, deadline for insurance companies to meet the new minimum capital requirements remains firm, warning operators against treating it as a mere formality.

The Commissioner for Insurance of NAICOM, Mr Olusegun Ayo Omosehin, who gave this warning, urged companies that have yet to meet the new minimum capital requirements to act with urgency.

Speaking on Friday at the investiture of Mr Akinjide Oluwarotimi-Orimolade as the 53rd President and Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN) in Lagos, Mr Omosehin said the recapitalisation exercise remained a critical pillar of the Commission’s ongoing reforms aimed at building a stronger, more resilient and consumer-focused insurance industry.

According to him, the new minimum capital requirement is designed to improve insurers’ claims-paying capacity, strengthen their balance sheets, support higher domestic risk retention and prepare the industry for a risk-based capital regime.

“With about 14 days to the July 31 deadline, we commend operators that have made significant progress in raising capital, engaging investors, strengthening governance and submitting for the Commission’s verification process.

“However, the deadline is not symbolic; it is regulatory, and the industry must treat it with the urgency it deserves,” he said.

The Commissioner assured stakeholders that the insurance sector regulator would maintain a transparent, fair and firm process, stressing that every operator must demonstrate financial soundness, regulatory compliance and operational readiness.

He added that stronger capitalisation must ultimately translate into better service delivery, prompt settlement of claims, improved consumer protection and greater public confidence in insurance.

Mr Omosehin noted that the Nigerian Insurance Industry Reform Act (NIIRA) 2025 has provided a stronger legal framework for a more resilient, better-governed and responsive insurance market, adding that NAICOM’s reform agenda is focused on market conduct, policyholder protection, governance, insurance penetration, financial inclusion and responsible innovation.

He described professionalism as the foundation of a trusted insurance market, saying the industry’s growth depends not only on adequate capital and effective regulation but also on ethics, competence, innovation and public confidence.

“The strength of insurance depends not only on capital and regulation but also on professionalism, ethics, innovation and public confidence. A trusted insurance market cannot be built on capital alone. It requires competent professionals, ethical institutions, credible advice and fair treatment of policyholders,” he stated.

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Customs Eastern Maritime Command Auctions N26m Seized Petrol, Palm Oil, Others

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Customs auctions petrol palm oil

By Bon Peters

About 29,645 litres of premium motor spirit (PMS), otherwise known as petrol, as well as industrial palm oil, edible palm oil and vegetable oil with a Duty Paid Value (DPV) of N26 million have been auctioned by the Eastern Marine Command of the Nigeria Customs Service (NCS).

The products were seized by the agency from some smugglers and auctioned on Thursday, July 16, 2026, at the Oron Outstation of the Command in Akwa Ibom State, in strict compliance with Section 119 of the Nigeria Customs Service (NCS) Act 2023.

It was gathered that the command auctioned 14,720 litres of petrol and 14,925 litres of industrial palm oil, edible palm oil and vegetable oil, according to a statement issued over the weekend in Port Harcourt, Rivers State, by the command’s spokesman, Mr Joshua Iliya, a Deputy Superintendent of Customs.

It was disclosed that the exercise aligned with the service’s statutory mandate to transparently dispose of seized, forfeited, and abandoned goods after all due legal processes have been completed.

The petrol had a DPV of N11.4 million, 14,200 litres of industrial palm oil with a DPV of N14.1 million, 600 litres of edible palm oil with a DPV of N840,000, and 125 litres of vegetable oil with a DPV of N141,000.

Declaring the auction open, the Acting Comptroller of the Eastern Marine Command, Mr Esien Etim Esiet, stated that the items were intercepted during successful anti-smuggling operations within the command’s jurisdiction, adding that the seizures followed direct violations of the NCS Act and other extant laws governing restricted goods.

“This exercise reflects our unwavering commitment to transparency, accountability, and the prudent management of government assets,” he stated, reiterating that, “Beyond the lawful disposal of goods, this auction serves as a stark reminder that smuggling is an economic crime.”

“It undermines national development, threatens local industries, and deprives the government of critical revenue,” he averred, commending the resilience and professionalism of the command’s officers for securing Nigeria’s maritime borders despite operating in challenging terrains.

The customs officer assured bidders that the process was structured to be fair, open, and legally compliant while offering equal opportunity to all eligible participants.

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