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The President, Major General Muhammadu
Buhari (retd.) |
‘All are alarmed that weak governance accentuates the problems and casts doubt on the leadership’s ability to weather the storm.
‘Among the daunting headwinds is, ironically, the spike in crude oil and gas prices that ordinarily should have been a boost for a major exporter. But as the country irrationally relies wholly on imports for refined petroleum products, higher prices mean higher costs of imports, and higher subsidy costs, which planned stoppage the government shifted by another 18 months.
‘Corruption, fiscal recklessness by the government and external pressures have, combined with its own incompetence, defeated the monetary authority’s efforts to effectively manage the exchange rate.
‘Expect further job losses, says the Lagos Chamber of Commerce and Industry, citing high prices, subsidy burden, the recent 10 percent per litre excise duty on non-alcoholic carbonated beverages, and increased borrowing. Youth unemployment, already at 55 per cent, could worsen, admits the Labour and Employment ministry.
‘Investors are taking flight. Forbes magazine described the country as “Africa’s money-losing machine,” where foreign investors’ interest dropped by 27.5 percent in Q1 2021. In the first seven months of 2020, foreign portfolio investment fell by 228 percent. Worse is expected this year.
‘To save money, the government should immediately transparently sell its four disastrously-run and moribund refineries to reputable global brands. Adopting targeted sales that will disqualify emergency, incompetent consortia, it should similarly concession commercial operations at the airports and seaports. Buhari should terminate the still-born arrangement with Russia, now a pariah state, over the Ajaokuta Steel Company and sell it to any of the world’s leading steel makers. It should also consider an international IPO to reduce its 49 per cent stake in the NLNG. Privatisations will not only raise desperately needed cash; they will also free funds for critical infrastructure and social spending’
… PUNCH
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| Usman Baba Alkali, Nigerian Inspector General of Police |
‘The Nigeria Police is one of the
constitutional bodies which are not meant to reflect any religion. Like the
Army, Navy, Air Force, Customs, Prisons, Immigration and others, they have
their roots in our colonial past. They are also designed as uniting elements,
which is why their central commands have been maintained rather than
regionalised. They reflect the concept of “unity in diversity”.
‘The questions that remain unanswered are: how did the Arabic figurines (ajami in Hausa) become a permanent feature in our currency notes? Why is the motto of the Nigerian Army written in Arabic Islamic text and only interpreted to the rest of us as “Victory Belongs To God”? Who took these decisions, and on what authority?
‘Only the Nigerian Police Council or the National Assembly should decide on any need to tamper with the uniforms of all military and security agencies.
‘This new directive by IGP Usman Baba is being interpreted as yet another step to project Nigeria as an Islamic country, which is totally contrary to the Constitution of the Federal Republic of Nigeria. Over the years, there has been this steady adoption of measures modelling Nigeria as an Islamic country, mainly through impunity’
‘Yes, Section 36(5) of the 1999 Constitution (as amended) is to the effect that an accused is presumed innocent untill (s)he is proved guilty, but presumption of innocence is not the same thing as innocence. Indeed, the presumption of innocence is, in a sense, a recognition of the probability of guilt. In plain language, presumption of innocence does not equate certitude of guiltlessness.
‘There is no doubt that inmates may be depressed and need programmes to lift up their spirits. We also know that prison need not be the end of the world, but pageantry is definitely not the most appropriate scheme for such people, especially when publicised in cases like this’
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