NIGERIA’s economy is charting a course from the tempestuous waters of the “Red Zone,” a realm of acute instability filled with uncertainty and wavering hope. Now, it navigates the “Amber Zone,” a twilight of cautious recovery, where the faint glow of progress meets the shadows of persistent challenges. Yet, the horizon beckons with the promise of the “Green Zone,” a sanctuary of enduring stability and prosperity. The path forward, however, is a rugged ascent, demanding resolve, innovation, and unity to transform into reality. While macroeconomic indicators point toward progress, such as a GDP growth rate of 3.19% in Q2 2024,…
Author: Dakuku Peterside
Read More
WHEN voices rise in waves of protest, deeper wounds are laid bare—truths woven into our laws and ethics, waiting to be unearthed. In Nigeria, one such moment emerged in the #EndBadGovernance protests, where voices for change faced harsh reprisals. The arrest and prosecution of 76 individuals, among them children, echoed like a somber drumbeat across the nation. The image—young souls accused of plotting to topple a government they scarcely understood—was not merely a misstep in justice, but a profound betrayal of innocence. This incident, crying out for redress, cuts to the heart of justice, empathy, and humanity. It has kindled…
A MILITARY officer who served as Nigeria’s Aviation Minister between 1985 and 1993 during the Babangida years once remarked that air travel was a luxury not meant for the poor. At the time, this comment sparked public outrage for its apparent insensitivity. Yet, more than thirty years later, that statement has proven eerily prophetic, as air travel has become increasingly inaccessible to most Nigerians. In Nigeria, the significance of air travel is even more profound. With an underdeveloped transportation infrastructure and the risks posed by road and rail travel, air travel has become both convenient and necessary. Despite this importance,…
THE challenges in Nigeria’s educational sector are complex and pressing, encompassing poor quality, inadequate funding, limited access, and an outdated curriculum. The World Bank reports that Nigeria’s education sector is severely underfunded, with only about 7% of the federal budget allocated to education in 2024, well below the UNESCO-recommended 15-20% needed to make a meaningful impact. These systemic issues significantly impact Nigeria’s economy and social fabric, contributing to unemployment, poverty, and inequality. The need for reform is clear and urgent: transforming education is critical to Nigeria’s global growth and competitiveness. The recent appointment of Dr. Tunji Alausa as the Minister…
EACH year, the Nobel Prize emerges as a global celebration of human achievement, recognising exceptional contributions to progress across various fields such as Literature, Science, and Economics. It also celebrates the promotion and advancement of peace. The prestigious award symbolises the potential to advance knowledge and solve some of the world’s most pressing challenges. In 2024, the Nobel Prize in Economics was awarded to Daron Acemoglu, Simon Johnson, and James Robinson for their groundbreaking research into how political and economic institutions shape nations’ prosperity—or failure. Their work, particularly in the influential book “Why Nations Fail”, emphasises that the quality of…
THE ongoing economic crisis has reached every corner of the nation, touching the rich and poor, urban and rural dwellers alike. With inflation rates climbing to about 33% as of August 2024, living costs have risen dramatically. Food prices alone have skyrocketed by more than 30%, placing a significant strain on household incomes. Families that were once able to get by are now struggling to afford necessities like food, fuel, and healthcare. This is not a crisis we can afford to ignore. Many Nigerians feel their government, both at the local and State levels, works against them rather than for…
NIGERIA is grappling with a multitude of significant challenges, each akin to a ‘ticking time bomb’ that threatens national stability. Among these, the most pressing yet underappreciated is food insecurity. Despite its critical nature and its direct link to national security, food insecurity has not received the urgent attention it requires from the federal and state governments. This crisis not only impacts the day-to-day lives of citizens but also undermines the country’s economic prospects and national security. The time to act is now, as government responses have often appeared chaotic or detached, failing to address the root causes of the…
NIGERIA is in the grip of a severe economic crisis, with high inflation, volatile exchange rates, and a steep rise in the cost of living. The inflation rate, which soared to over 30% in the second quarter of 2024, has put immense strain on household budgets, making it increasingly difficult for many Nigerians to afford basic necessities such as food, healthcare, and housing. The situation has been worsened by the depreciation of the naira, which plummeted to historic lows against the US dollar, trading at over ₦1600 to $1 in recent days. This economic turmoil, coupled with persistently high unemployment…
LET me be upfront: I commiserate with everyone affected by the Borno flood. This is a catastrophe that goes beyond physical devastation; it is about systemic failures. I appreciate Governor Babagana Zulum’s leadership so far. In response to the crisis, he outperforms the typical Nigerian governor with swift action, pragmatic decisions, and an unflinching commitment to the people. I join the people of Borno, particularly those affected by the flood, in thanking everyone who has expressed concern about the terrible but avoidable humanitarian situation in Nigeria’s Northeast. According to yet-to-be-verified accounts, exceptionally heavy rains in September caused the Alau Dam…
“SCRAMBLE for Africa” historically refers to the late 19th and early 20th centuries when European powers colonised and divided the African continent, seeking political, economic, and strategic dominance. Africa was mercilessly exploited, and to date, the scars remain. With its rich resources and sizable population, Nigeria became a prime target of British colonial authorities, a historical fact that underscores its continued strategic importance on the continent. Fast forward to the 21st century, and a new scramble for Africa is underway. This time, global powers compete for influence, resources, and markets rather than territories. Once again, Nigeria plays a central role…
IN JULY 1986, Nigeria’s military president, General Ibrahim Babangida, launched a public policy initiative hailed as the silver bullet for Nigeria’s distressed economy: the Structural Adjustment Programme (SAP). A local adaptation of an IMF/World Bank initiative, SAP was intended to stabilise the economy. However, within a year of its implementation, the programme had left a trail of hunger, industry closures, unemployment, and acute poverty. Instead of achieving its objectives, SAP exacerbated the economic crisis, leaving Nigerians groaning under economic hardship. SAP was part of a broader World Bank/IMF global economic policy framework. While SAP failed from a broad perspective, certain…
GOOD governance is universally acknowledged as a critical factor in the progress and development of any nation. In Nigeria, both the elite and the common people share this profound understanding of governance’s impact on the country’s trajectory. However, despite this shared understanding, these groups have a significant divide in their conception of what constitutes “good governance.” For the masses, good governance is primarily about tangible improvements in living conditions—such as access to necessities, healthcare, education, and security. The elite, however, view good governance through a broader lens, encompassing systematic approaches to resolving public policy challenges. Meanwhile, technocrats and academics emphasize…
NIGERIANS’ profound interest in US elections is no mere coincidence. The roots of this fascination lie deep in the historical and structural connections between the two countries’ political systems. Nigeria’s democracy, modelled closely after the US presidential-style system, naturally invites comparisons and draws parallels with American political practices. This connection is further deepened by the increasingly globalised nature of our world, where political developments in one nation can reverberate across continents, influencing governance, policies, and even public opinion in far-flung regions. In Nigeria, this is particularly evident as US political dynamics, especially in the current digital age where social media…
EVERY story has two sides, but when a country’s reputation as a sovereign and an investment destination comes under threat, it calls for immediate concern and action from its citizens and leaders. The recent unfolding of a concerning development has significant implications for Nigeria’s global standing as an investment hub. A Chinese company, Zhongshan Fucheng Industrial Investment Co. Ltd, secured a court order in France following an arbitration award initiated in 2017, with the Ogun State Government over a contractual relationship that dates to 2010. The arbitration panel ruled in favour of Zhongshan, stating that “It is clear that Zhongshan…
NATIONS, diplomacy, and sports are interwoven. Sports persons and sports teams are, in a sense, representatives of and mirrors of their countries. It is no coincidence that most great nations are also leading sporting countries because it is a significant tool of soft power projection. Nations demonstrate their might either through ‘Fight’ or ‘play’. The latter is the province of international sporting events like the Olympics. Sporting competitions, particularly at the elite level, have often been likened to modern-day wars. This metaphor draws on the intense rivalry, nationalistic fervour, and strategic and physical battles that characterize sports and warfare. However,…
WE are witnessing some of the worst anti-government protests in our recent democratic history, fuelled by economic hardship, hunger and a general feeling of disillusionment among many Nigerians. Whatever the arguments are for or against the protests, it suffices that some Nigerians are making public their anger against the system and resolute to demand change. The protest, after Day 4, showcased the massive dichotomy in the various regions’ interpretation of their stake in the Nigerian project and the impact of the economic realities and peoples’ feelings about them. Understanding Nigeria’s fault lines is not just crucial, but it’s also enlightening…
ANY government can easily undermine its credibility if it sends mixed signals on essential policy issues or initiatives, flip-flop from one policy or strategic direction to another, and turn essential socioeconomic frameworks into a yo-yo game. The outcome and resultant consequences have been consistent: a total erosion of integrity and trust in the government. This has been more glaring in the critical decision on Nigeria’s government size and its twin, cost of governance. In government, size matters! But what matters most is the ideological underpinning of what determines size, relative to goals and objectives. The size of the government in…
NIGERIA is a complex and multifaceted country that elicits various thoughts and viewpoints. Yet, there is some order in disorder. My recent journey through books about contemporary Nigeria or autobiographies of Nigerians brought this reality to light. I have read many books, and in the spirit of Barbara Tuchman, I feel that “books are the carriers of civilisation and without books, history is silent, literature dumb, science crippled, thought and speculation at a standstill.” Of the many books on Nigeria’s nature and essence I have read recently, four stood out as rich in insights into what makes Nigeria and Nigerians…
LAST week, Nigeria’s Supreme Court took a fundamental step towards dismantling the grip of state governors on the local government(LG) system and local government funds. The Supreme Court ruling on a suit filed by the attorney general of the federation,Lateef Fagbemi SAN, pointedly said the governors were undermining the functionality and operations of the LG system. They stretched it further by inferring that the governors were hell-bent on destroying democracy. In this landmark judgement, the Supreme Court made it clear that it is unconstitutional for state governments to control, withhold or tamper with funds meant for local governments and prohibited…
IN the past ten years, the South-East and North-East geopolitical zones, more than other geopolitical zones, have been sites of experiments on insecurity and militia reign. Either terrorists, kidnappers, or militias were testing the will of the government to see how long it would take for a determined state to take charge, or it was just a playground of absurdity. The result is known. Political leadership and the elite failed the people irredeemably. Admittedly, insecurity on a national scale abhors partitioning. The factors at play in a place may owe their origins to factors emanating from a totally different region,…