Economy
Buhari: We’re already back in dark ages
I was slightly depressed on account of the Nigerian situation. Work was at a standstill; new currency notes were hard to find. My niece’s wedding was coming up the next day; and no cash to spend during the ceremony. I needed a lift. After all, I learnt long ago, from Walpole, 1717-1797, that “This world is a comedy to those who think; a tragedy for those who feel.” Ordinarily, I should be among the last people to be surprised by the level of backwardness to which we descended as a nation since 2015. Yet, I never cease to be worried, not only at how far we have receded into barbarism, but, because of the nagging feeling that we have not reached the bottom yet. Buhari has set us back in seven years and eight months; he can still do a lot of damage in the four months left for him to go.
Then I saw the report by Elizabeth Osayande; and it was obvious that we are witnesses to one of the greatest comedy shows on Earth today. The stand-up entertainer was quoted to have stated that: “It is by integrity, respect for the rule of law, due process and genuine patriotism that we will make Nigeria the nation of our dreams.” I read the story three times to be sure that it was Buhari talking. What could be responsible for this? Was this what one of my sages calls “wisdom on the eighth day of the week”? Has Buhari got wiser? Maybe. But, a more plausible reason is indicated. Buhari has not changed. He remains true to himself and untrue to us. His way of joking has always been to utter truths to which he does not subscribe. Let us look at that statement and interrogate some of it.
“Integrity is a hundred per cent thing”; that is according to a former President of an American university. I totally agree. The acid test of integrity is acting according to your pronouncements. Permit me for repeating the facts that follow. But, Buhari will not stop talking about virtues he has demonstrably renounced several times by his conduct. He is a hypocrite; and hypocrisy and integrity are two parallel lines which will never meet.
One, he promised to disclose his assets – if elected. He was elected in 2015 and he promptly broke that promise. Two, he declared several times during his campaigns that fuel subsidy was a fraud. He has paid more for fuel subsidy than any President; and has even borrowed to fund the fraud. Can a man with honour fund fraud? Three, he swore on oath to uphold the rule of law. He has bluntly refused to release IPoB leader Kanu after the young man was acquitted of trumped-up charges by his government. No integrity on display here.
“The [President] himself ought not to be subject to man, but subject to God and the law; because the law makes him [President].” (Bractor, VBQ; amended).
Buhari’s breach of respect for the rule of law and due process and genuine patriotism easily indicate that he has so far failed to demonstrate any of those attributes. His government, in collusion with the Central Bank of Nigeria, CBN, has now almost brought the nation to a halt on account of serial violations of laws governing operation of Ways and Means, W&M, instrument for public finance. To top it all, his lawless FG sent a proposal for the repayment of the N22.7 trillion W&M debt through a scheme unknown to law. Where is the respect for the rule of law, due process or, for that matter, genuine patriotism?
A President who tramples on the law and encourages others to do same easily brings to mind the quip by Dr Samuel Johnson, 1709-1784, VBQ p 182: “Patriotism is the last refuge of the scoundrel.” Hitler, until he pulled the trigger to commit suicide, also considered himself patriotic. Buhari’s statement was however revealing in one way. It tells us where we are now with regard to contemporary and comparative history. Read a few:
Education signposts a nation’s distance from the Dark Ages. With about 20 million kids out of school; and millions more who never attended school, Nigeria is now home to more illiterates than the world had during the Dark Ages. In 1960s, there was never a time power failure was total for three days in a row. In 2015, the average daily power supply was 3600MW. Nigeria has added at least 25.6 million more people; and the average daily power supply is still about 3600MW. Per capita power supply is less than in 2015; far less than in 1960. Certainly, we are edging closer to the Dark Ages under Buhari; but, he is the last person to realise it. Leadership combines intelligence with integrity and physical and moral courage. Nations return to dust when their leaders are badly educated and inept – depending on absolute falsehood and propaganda as communication tools of their governments.
These are all the weapons Buhari has deployed in the last year of his misrule of Nigeria. Despite the overwhelming evidence at our disposal, he continues to claim that his government has lifted millions out of poverty, made road transportation easier and provided better security. He has never openly acknowledged borrowing N22.7 trillion under Ways and Means in contravention of the law because that will contradict his posture of a leader who respects the rule of law. And, he ignores the fact that Nigerians are poorer now than we were in the 1980s. In my readings in history, the Dark Ages were characterised by leaders discouraging learning and knowledge acquisition. This administration abhors knowledge and truth. Our recession to the Dark Ages is now sure.
Buhari should have the courage to read comments in newspapers and listen to television commentaries next October 1 when he would have left office. He will be shocked by how few his defenders will be. Even Lai Mohammed and his Senior Special Advisers will desert him as unpleasant truths unfold about how badly he has performed as President; how he took us back to nature.
WHAT MORE DOES AKPABIO WANT IN PUBLIC SERVICE?
“You’ve had your share of mirth, of meat and drink. Tis time to quit the scene; tis time to think” – Elphinstone, 1779-1859
Elphinstone, Scottish historian, must have detested sit-tight public figures as much as I do. He wrote the short sentence quoted above in an essay which summarised the lengthy public service of a British colonial officer in Afghanistan – who refused to retire from public service. I kept the statement for an occasion and person such as this – for those who refuse to leave public service.
Senator Godswill Akpabio was an obscure lawyer in 1999 when some people brought him to Governor-elect Victor Attah, begging on hands and knees that he be given any appointment. Attah made him Commissioner; and he served for eight years. Leaders of the Peoples Democratic Party, PDP, then decided that with Ibibios constituting 67 per cent of Akwa Ibom State, they would continue to produce the governor – unless some rotation arrangement was introduced to allow the Anangs and Orons to govern. Anangs were given the first shot at it; and Godswill Akpabio was the lucky fellow. So, he became governor for eight years. It will require a whole book to recount what he did to the Ibibios. By the time he finished, Ibibios have repealed the rotation agreement for ever.
As incumbent governor, and leader of the PDP in the state, he had no difficulty getting nominated as candidate for the Ikot Ekpene Senatorial District; which he won by overwhelming majority. He served four years as Senator from 2015 to 2019. In 2019, he defected to the All Progressives Congress, APC; ran for re-election as Senator and was defeated by a landslide.
Fortunately for Akpabio, President Buhari was re-elected. Akpabio was appointed Minister; until he voluntarily resigned to contest for the presidency in 2022. He lost to Emilokan; returned to Akwa Ibom State, AKS, and snatched the ticket from the APC candidate for Ikot Ekpene Senatorial District. Akpabio will be thrashed again. In fact, if there is one good reason why he will/should lose, it is the need to stop the sit-tight syndrome.
If a fellow has been in public office since 1999 – Commissioner, Governor, Senator – and is still selfish enough to want more, the people should have sense to say “ENOUGH”. Is public office private property?
The recent visit of Asiwaju Tinubu to AKS, during which he called Governor Udom Emmanuel, “Boy”, not only epitomises what is wrong with the current campaign; it guaranteed Akpabio’s defeat. Nothing can save him now.
LAST LINE: It is for the same reason that I am happy that Senate President, Lawan, will not be returning this year. The man has been there since 1999. Time to go. I also hope this is the last term for Femi Gbajabiamila; who has been there since 1999 – with little in Lagos to show for it. Selflessness says “tis time to quit.”
Economy
NCS Records Historic ₦6.1 Trillion Revenue in 2024
The Nigeria Customs Service (NCS) has achieved a historic milestone, collecting a record ₦6.1 trillion in revenue in 2024, surpassing its ₦5.1 trillion target by ₦1.03 trillion. This represents a 20.2% increase above the target and an impressive 90.4% rise from the ₦3.2 trillion collected in 2023.
Speaking at a press briefing in Abuja on January 14, 2025, the Comptroller-General of Customs, Bashir Adewale Adeniyi, attributed the remarkable performance to strategic reforms, enhanced operational efficiency, and strong alignment with government policy objectives. “This growth is historic as it marks the highest year-on-year increase recorded by the Service in recent times,” he noted.
The record-breaking revenue is segmented into ₦3.66 trillion for the Federation Account, ₦816.9 billion for Non-Federation Account Levies, and ₦1.63 trillion in Value Added Tax (VAT) on imports.
Adeniyi highlighted the Service’s effort to balance revenue collection with trade facilitation, granting concessions worth ₦1.68 trillion to stimulate industrial growth while tightening controls to prevent abuses.
The Service also achieved remarkable progress in trade facilitation, recording a 179.3% increase in total trade value to ₦196.94 trillion in 2024, compared to ₦70.5 trillion in 2023. This growth was driven by a surge in the export trade, which saw a 219.5% increase in value to ₦136.65 trillion.
Significant advancements were made in customs operations, including the introduction of the Advanced Ruling System and the Authorized Economic Operator (AEO) programme. The latter has reduced cargo clearance times to an average of 43 hours for AEO-certified companies. Additionally, the indigenously developed digital clearance platform, “B’Odogwu,” generated ₦31 billion in revenue during its pilot phase.
In 2024, the NCS received international acclaim, advancing 33 places in the Presidential Enabling Business Environment Council (PEBEC) rankings and being recognised among the top five agencies for trade facilitation. Strategic partnerships, such as with the Healthcare Federation of Nigeria, have streamlined the clearance of medical supplies, aligning with the federal government’s health accessibility goals.
The Service’s trade facilitation efforts under the African Continental Free Trade Agreement (AfCFTA) have also bolstered the participation of Nigerian exporters in global markets, with notable representation at the Biashara Afrika forum in Kigali.
Adeniyi attributed these achievements to the support of President Bola Ahmed Tinubu’s administration and the dedication of NCS officers. He reaffirmed the Service’s commitment to leveraging technology, fostering stakeholder collaboration, and enhancing operational efficiency to sustain growth.
Economy
Tinubu Pitches Nigeria as Global Partner in Sustainable Energy Future at Abu Dhabi Summit
President Bola Tinubu on Wednesday assured the international community that Nigeria is ready to collaborate with other nations to foster a resilient, equitable, and sustainable future for all.
Speaking on the topic, “From Climate Imperatives into Economic Prosperity: Bridging Africa with the Global Energy Future”, during the 2025 Abu Dhabi Sustainability Week, Tinubu emphasized the importance of collective action in addressing global environmental challenges.
“No single nation can walk the road to sustainability alone,” the President said. “The fight against climate change is not merely an environmental necessity but a global economic opportunity to reshape the trajectory of our continent and the global energy landscape. To succeed, we must innovate, collaborate, and act decisively as one global community.”
According to a statement by his spokesperson, Mr. Bayo Onanuga, Tinubu reiterated his administration’s commitment to reducing carbon emissions through actionable programmes aligned with global expectations.
“We have embraced a vision of sustainability that aligns with global aspirations while addressing local realities,” he said. “Our efforts are anchored on three pillars: Energy Transition, Climate Resilience, and Sustainable Development. My administration recognises the importance of reducing carbon emissions and a just transition to clean and renewable energy, promoting environmental sustainability and economic growth.”
Highlighting specific initiatives, the President disclosed that Nigeria is advancing the use of Compressed Natural Gas and electric vehicles, harnessing solid minerals for green energy transitions, and implementing climate-smart agricultural practices to boost food security and mitigate environmental impact.
“Our government has introduced the National Clean Cooking Policy to promote clean energy, environmental and health benefits, and socio-economic development across Africa,” Tinubu noted.
He also stressed the importance of addressing Nigeria’s environmental challenges, including deforestation, desertification, coastal erosion, flooding, and pollution, which threaten the livelihoods of millions. Tinubu called for international collaboration to mobilize resources, embrace technology, and drive innovation to tackle these issues.
“To promote a Green Economy in Africa, we must focus on integrating sustainable practices in all sectors of our economy,” he said. “These investments are capital-intensive and require international support from partner countries, multinational organisations, and development partners.”
Tinubu proudly highlighted Nigeria’s leadership as the first African nation to fund green projects through Sovereign Green Bonds, with the third issuance underway.
“We urge investors to partner with us in this regard. Our administration remains committed to providing an enabling environment for businesses to thrive in Nigeria,” he said.
The President concluded by emphasizing Nigeria’s potential in advanced agricultural technologies and Artificial Intelligence, reiterating his commitment to a sustainable future built on innovation and collaboration.
Aviation
NAF airstrikes destroy terrorist food depot, kill scores in Lake Chad
This is contained in a statement by the Director, Public Relations and Information, Nigerian Air Force (NAF), Air Commodore Olusola Akinboyewa, on Monday in Abuja.
Akinboyewa said the NAF aircraft carried out the operations in Nov. 23 on the strategic location, identified through meticulous intelligence efforts.
He said the location served as a critical food storage site and a sanctuary for terrorist commanders and fighters.
He added that intelligence had previously linked terrorists in the location to recent attacks, including the assault on troops in Kareto on Nov. 16.
According to him, the NAF fighter jets, in response, launched a robust air interdiction mission, destroying identified structures used as storage facilities and neutralising terrorists on-site.
“Mop-up operations using cannons ensured the complete elimination of fleeing hostile elements.
“The operation’s success was made possible by extensive Intelligence, Surveillance, and Reconnaissance (ISR) missions conducted over several days, confirming the presence of active terrorist structures camouflaged under dense vegetation.
“The destruction of the terrorist enclave, including food storage facilities, severely disrupted their logistical operations, while the neutralisation of a significant number of fighters diminished their capacity to launch future attacks,” he said.
Akinboyewa said the mission had demonstrated the NAF’s unwavering commitment to defending our nation and people, acting singly and supporting surface forces in counterterrorism operations.
He reiterated the NAF’s commitment to sustain robust independent and joint operations until all enemies of Nigeria’s prosperity and wellbeing are brought to justice.
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