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Obasanjo Chides Tinubu On Subsidy Removal, Forex Policy, Handling Of Coup In Niger

Published

1 month ago

May 27, 2024

Editor

Former Olusegun Obasanjo has tackled President Bola Tinubu for poor handling of fuel subsidy removal, flotation of the naira and the military coup in Niger Republic.

He said though subsidy removal and the government’s forex policy were desirable, they were poorly handled by the government.

The former president observed at a colloquium,” Nigeria’s Development: Navigating the Way Out of the Current Economic Crisis and Insecurity” delivered at the Paul Aje Colloquium, tPAC, in Abuja weekend.

However, efforts made to get reactions from the President’s Media office were unsuccessful but a Presidency source simply said: “It is his personal opinion, he is entitled to that but we don’t want to reply to him.”

But Obasanjo also took a swipe at those against his position on the much-touted refurbished refinery in Port Harcourt, Rivers State, describing them as “sycophants and spin doctors”.

He declared that such people failed to remember that the attempt made in 2007 to partly privatise the refineries was made him, after a thorough study of the situation, hence his knowledge and better understanding of the situation before making his decision late last year.

On what could be described as his position on 365 days of President Bola Ahmed Tinubu’s administration, the former president also spoke on ways out of the situation in the country, including a 25-year development agenda.

He said: “Today, the government has taken three decisions, two of which are necessary but wrongly implemented and have led to impoverishment of the economy and Nigerians. These are the removal of subsidies, closing the gap between the black market and official rates of exchange and the third is dealing with the military coup in Niger Republic.

“The way forward is production and productivity which belief and trust in government leadership will engender. No shortcut to economic progress but hard work and sweat.”

‘Economy doesn’t obey orders’

“Economy does not obey orders, not even military orders. I know that. If we get it right, we will begin to see the light beyond the tunnel in two years. It requires a change of characteristics, attributes and attitudes by the leadership at all levels to gain the confidence and trust of investors who have alternatives.

“TotalEnergy has gone to invest $6 billion in Angola, instead of Nigeria. If the truth must be stated, the present administration has not found the right way to handle the economy to engender confidence and trust for investors to start trooping in.

“They know us more than we know ourselves. And now they are laughing at us, not taking us seriously. We have to present ourselves in such a way that we will be taken seriously. If existing investors are divesting and going out of our country, how do we persuade new investors to rush in?
‘’We can be serious if we choose to be, but we need to change from transactional leadership in government to transformational and genuine servant leadership.

“With change by us, the investors will give us the benefit of the doubt, and security is taken care of on a sustainable, long-term basis, they will start to test the waters. With the right economic policies, attribute of integrity and honesty of purpose, all should be well, with all hands on deck and the government become a catalyst for development, growth and progress.

“Tinkering with the exchange rate is not the answer. The answer is consistency and continuity in policy to ensure stability and predictability. That way, we will be sure to incentivize domestic and foreign investment.

‘’There must be honesty and transparency in government dealings and contracts and not lying with deception about these issues. When the government is seen as pursuing the right policy, the private sector will go for production and productivity.”

The former president’s reaction to the refinery issue is coming six months after the claim that the refinery would begin operation in January.

He noted that to get out of the current situation of the country, the government and the governed needed to look at the past and the present, and ask: How did we get here?.

Obasanjo said further: “Looking at the topic of today’s occasion, the question I would ask is, how do we navigate our way out of these crises and pave the path towards a more secure and prosperous Nigeria?

‘’I believe the answer to this requires a multi-faceted approach that addresses the root causes of these challenges. The central questions are: where were we? And how did we get to where we are today?

“Firstly, we must know where we are coming from. Our economy has consistently suffered from poor policies, lack of long-term, sustainable policies, discontinuity, ad hoc arrangement and corruption firmed on personal greed, avarice, incompetence, lack of knowledge and understanding and lack of patriotism.

“For instance, the statement and proposed actions given forty-five years ago to stop fuel scarcity is the same statement and action being touted today. I recall when I made the statement that the refineries will not work, the sycophants and spin doctors of this current administration went out to castigate me as not being a petroleum engineer and that I did not know what I was talking about.

“They forgot that the attempt that was made in 2007 to partly privatise the refineries was made by me after a thorough study of the situation. But the decision was reversed by my successor and the $750 million paid was refunded.”

On a way out, the former President said the country needed a 25-year socio-economic development agenda that would be generally agreed to by all political parties and passed into law by the National Assembly, with State Assembly aspects also passed into law by State Houses of Assembly.

‘’We take up the implementation on a five-year basis. In reality, that plan will have the effect of almost a Constitution. The first priority in the implementation will be education for all.

‘’The second should be food and nutrition security through agribusiness. The third should be energy for all. The fourth should be industrialization and manufacturing. And the fifth should be science, technology, innovation and Artificial Intelligence, AI.

‘’In all these, the government should provide a conducive environment for the private sector to operate and thrive. And where the government will be involved at all, other than as a policymaker and enabler, it should be based on private public partnership with the government as a junior partner.”

On the security, “we need stick and carrot approach. Stick to deal with those who cannot be weaned out of criminality and evil deeds and for those weaned, they should be rehabilitated. There should be no Nigerian without being in school compulsorily for eleven years – secondary education level.

“Employment must be a right for all Nigerians from age 18 years to 65 years. With such a carrot in position, the stick must then be made more severe for criminals. Five years must be set out to ensure that every Nigerian child who is not in school is in school and no one is left out of popular education.”

Adult education should be embarked upon to give every Nigerian basic education equivalent to six years of formal education. We should give ourselves ten years to rid Nigeria of illiteracy. No matter what we do, if we do not find a way of educating, giving skills and empowerment, over 20 million Nigerian children that are out of school today will end up being rich recruitment centres for drug addicts, Boko Haram, bandits and other social misfits.
VANGUARD

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FG Terminates Obajana-Benin Road Contract With Mothercat, RCC, Gives Reason

Published

5 hours ago

July 1, 2024

Editor

The Federal Government has terminated its contracts with Mothercat, RCC and Dantata & Sawoe for non-performance on the dualisation of the Obajana-Benin road project sections two, three and four.

The Minister of Works, David Umahi, made this known in a statement by his Special Adviser on Media Uchenna Orji, on Monday In Abuja.

Umahi said that the contracts were terminated due to delay leading to the expiration of the contract which was awarded on Dec. 3, 2012.

”The Federal Ministry of Works has terminated contract numbers 6136, 6137 and 6138 with Mothercat Ltd, Dantata & Sawoe Construction Ltd and RCC Ltd respectively.

”The projects affected by this termination are the dualisation of Obajana – Benin road and section II, (Okene – Auchi) in Kogi/Edo.

”Others are the dualisation of Obajana – Benin road, section III (Auchi – Ehor) and the dualisation of Obajana – Benin road section IV (Ehor – Benin) both in Edo.

”The termination of the said contracts became necessary in view of the inordinate delay of the affected companies in job performance,’’ he said.

Umahi said that it was also due to their failure, neglect and or refusal to fulfil their contractual obligations as required by the standard conditions of contract.

”This has affected the timely completion of the projects, which has resulted in the expiration of the contracts by effluxion of time.

”The projects which were awarded on Dec. 3 2012 were advertently abandoned by the contractors and no genuine commitment or good faith was shown towards executing the projects after accepting the considerations offered by the Federal Government.

”This thereby is exposing the road users to untold hardship due to the deplorable condition of the projects,’’ he said.

Umahi also said that engineers in charged, have therefore been directed to take the necessary steps to do the needful and arrange with the affected companies for a joint measurement of work done so far.

”The Federal Ministry of Works under my watch will not condone acts of unseriousness and sabotage by contractors whose plan is to become a clog in the wheel of progress of the Renewed Hope administration.

”Going forward, the government will not hesitate in terminating all projects that are funded but are non-performing,’’ he said.

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OPINION: Let Kenyans Enjoy Their Kenya

Published

8 hours ago

July 1, 2024

Editor

By Lasisi Olagunju

Hugh Gaitskell became Britain’s Minister of Fuel and Power on October 7, 1947. Soon after taking that office, because there was an energy crisis, the minister told his countrymen and women to save fuel by reducing the number of baths they took. Gaitskell said: “personally, I have never had a great many baths myself, and I can assure those who are in the habit of having a great many that it does not make a great difference to their health if they have less.”

Winston Churchill, who had by then become the opposition leader, heard him and said no wonder the government smelt so badly. He replied Gaitskell on 28 October, 1947: “When ministers of the Crown speak like this on behalf of His Majesty’s government, the Prime Minister and his friends have no need to wonder why they are getting increasingly into bad odour.”

Nigeria is an unwashed country. It stinks. It needs deliverance but won’t get it. The fire we have on our mountain is uncontrollable and unquenchable. At least, it is not the type you kill with thunder claps of anger. Some people demolished their own Wall of Jericho with noise. In case you believe that story and think you can replicate it here, you are wrong. What Kenyans did on their streets and achieved in one day last week, you can not have here. We have enough shock-absorbers and fissions to take all shocks and frustrate all enemies of frustration.

You’ve lately been reading of unbelievable in-your-face sad acts of our democratic government. You’ve heard rumours of expenditures that you would pray were not true. You’ve been watching circus shows on a new minimum wage for public and private sector workers.

MORE FROM THE AUTHOUR: OPINION: Kings And Imams In Yorubaland

You watched the Kenyan parliament with its President William Ruto thoroughly whipped by their angry children. You wonder why our own king and his lawmakers are not as worried about all this as they are concerned about the purchase of new presidential jets. You’ve also been hearing sermons calling for more sacrifices from you, the people. You’ve wondered why it must be you who must always tighten your belt while the pilot eats to explosion.

You are hearing rumours of four budgets in one country by one government in one year. The government wants to operate, in 2024, the 2023 main and the 2023 supplementary budgets plus the 2024 budget while preparing another supplementary budget. You don’t understand? The government wants to eat yesterday’s pounded yam with today’s in addition to a supplementary one in preparation. It won’t matter that some projects and their votes are duplicated in the various budgets. They must appear in all the budgets because they are tagged ongoing. Money here (2024), funding there (2023) make the smart wealthier.

Why are people quiet? What should they say and what will their talking amount to? Felix Adler (1851-1933) was a German-American professor of political and social ethics. In an address to the Society for Ethical Culture of New York on Sunday, 6 February, 1898, Adler spoke on what he called “the wisdom of mute lips”. In the speech entitled ‘The Moral Value of Silence’, he counseled that “reticence should be observed when the likelihood is wanting that what is said will have its due effect.” Those of us who write the ‘rubbish’ we write daily or weekly know that no one who should care really cares. We know that regime-backers’ passion for power or belly won’t let them accept the truth just as the regime won’t. But we also know that truth, even in silence, has its own unique way of asserting its supremacy no matter how long the night lasts.

MORE FROM THE AUTHOUR: OPINION: Reps’ Drunkard Democracy

So, let Kenyans of last week enjoy their Kenya of today. It is not our challenge. Our street is silent and withdrawn because it cannot believe that today has truly manifested itself in worse details than the horrible past. People who should be afraid of the people’s silence are not. They are happy that those who suffer suffer their deprivations in the quietude of their holes. You remember that city, Ègbin (the filthy) with its peculiar inhabitants, in D.O. Fagunwa’s Ogboju Ode ninu Igbo Irunmole. We can locate it in today’s Nigeria. The government has made itself smell so badly that no one wants to contest the soup pot with it. Its operatives can have everything – and they enjoy having everything. The filth and the ugliness of their character have won for them permanent residency in our vaults. It didn’t start today.

You must have come across an old August 11, 1956 newspaper story with the headline ‘Nigerian MPs’ pay.’ The story reads: “Chief (S.L.) Akintola, the official leader of the Opposition in the House of Representatives, described as a scandalous waste of public money a government motion providing for advances of £800 to each member of the House, except Ministers and Parliamentary Secretaries, to enable them to buy cars. The motion also provides for a consolidated travelling allowance of £140 a year for each member. The present salary of a member is £800 a year. Denouncing these measures, Chief Akintola said that the financial benefits accruing to members were unduly generous for their part-time service, compared with the whole-time members of the British House of Commons who were paid only £1,000 a year. He said many members had earned less than £300 a year before they became members of the House of Representatives.”

You see that? In 1956 (four years before independence) full-time British lawmakers were paid £1,000 a year. During that same period, part-time Nigerian lawmakers were paid £800 a year. Chief Akintola was lucky. If he says of our Senators or Reps today what he said in 1956, he would be suspended indefinitely from his legislative duties.

Wise people always know that anything that can fester will eventually get rotten. And, it actually got worse for Nigeria immediately after independence. The second republic perfected whatever heist was inadequately staged in the first republic. Dafe Otobo, Professor of Industrial Relations, in his ‘The Political Clash in the Aftermath of the 1981 Nigerian General Strike’ (1982), tells the story: “Typically, the more disadvantaged in society are requested to make sacrifices in difficult times: the legislators and bureaucrats jettisoned all previous (minimum wage) agreements in the name of ‘austerity measures’ after they themselves had stoutly opposed a cut in their pay and allowances! In fact the federal government’s 1981 approved estimates have confirmed that legislators collected a total of 15.1 million naira as remuneration and allowances for their aides for the year; 450 members of the House of Representatives received 13,673,700 naira or 30,386 each; and the 95 senators collected 1,462,240 or 15,392 each. Added to these sums were ‘constituency allowances’ which amounted to eight million naira (18,652 for each senator as against 13,840 for each representative), and then a vaguely titled ‘consolidated allowance’ which enabled each senator to collect another 5,000 naira and 3,000 for each representative. All this amounted to the tidy sum of 24,925,000 naira, apart from the 1.2 million naira spent by all the legislators on foreign travels when only N656,250 was actually approved for the purpose.” Note that one dollar officially exchanged for 61 kobo in 1981.

“What cannot be cured must be endured” is a phrase in Robert Burton’s 1621 book, ‘The Anatomy of Melancholy’. Burton says Melancholy is that feeling which “goes and comes upon every small occasion of sorrow, need, sickness, trouble, fear, grief, passion, or perturbation of the mind, any manner of care, discontent, or thought, which causes anguish, dullness, heaviness and vexation of spirit…” As negative as its character is, Burton says the melancholy of the world he lived had “grown to a habit” and so “will hardly be removed.” I recommend continued endurance to our millennials and their Gen Z cousins. They should read our history and calm down. Nigeria’s bald-headed vulture has been in the rains since it was created. They should stop dreaming about its salvation. The rain won’t stop.

The author, Dr. Lasisi Olagunju is the Saturday Editor of Nigerian Tribune, and a columnist in the same newspaper. This article was first published by the paper (Nigerian Tribune). It is published here with his permission.

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NAF Reacts To Kaduna Fresh Crash

Published

9 hours ago

July 1, 2024

Editor

The authorities of the Nigerian Air Force says it is one of its Unmanned Aerial Vehicles (UAVs) that crashed in Kaduna, not a helicopter.

It also said it had commenced investigation to ascertain what might have caused the mishap, adding there was no single casualty since it was unmanned equipment.

Enchanted by the Beautiful City near Cambodia Border – Nếm TV

A helicopter belonging to NAF was said to have crashed in the early hours of Monday in Tami village, Igabi Local Government Area of Kaduna State.

An eyewitness, who did not want to be mentioned, had told Daily Trust that the incident occurred at about 5:00 am, causing significant alarm among locals.

But reacting to the incident, the spokesman of the Nigerian Air Force, Air Vice Marshal Edward Gabkwet, in a statement assured Nigerians that “this minor setback” would not impinge on the ongoing operations.

The statement read in part, “Contrary to reports on social media as well as on a handful of traditional media outlets that a NAF helicopter had crashed in Kaduna earlier today, 1 July 2024, be informed that no helicopter crash occurred.

“Instead, a NAF Unmanned Aerial Vehicle (UAV) experienced a mishap after take-off for a mission, at a location near Rumji Village and about 15 Km from Base.

“Since it is an unmanned vehicle, there were no casualties on board or on ground. Preliminary investigation has since commenced to ascertain what may have caused the mishap.

“Nigerians can be rest assured that this minor setback will not, in anyway, impinge on all ongoing operations.”