Showing posts with label World Bank. Show all posts
Showing posts with label World Bank. Show all posts

Friday, April 12, 2024

Electricity Tariff Hike As Maltreatment Of Nigerians

 By Adekunle Adekoya

I have zeroed in on electricity in the last few editions of this column because of the anxiety I harbour that our dear country, Nigeria, needs to get it right as soon as possible; before those that have gotten it right transmogrify into behemoths that can swallow us up. I had finished writing the last edition, with the headline: ‘Frequent national grid collapse: Time we took another hard look’, when the Federal Government empowered the electricity sector to announce new tariffs, ostensibly for affluent users, those said to be in Band A.

Minister of Power, Adebayo Adelabu, had earlier in the year hinted of this development when he said that subsidy payments in the electricity sector by the Federal Government is not sustainable. I disagreed with him, because that would mean Nigerians will be paying higher prices for a service that at best, for the majority, remains epileptic. In addition, Nigerians are yet to see any initiative on the part of government that indicates we can expect better, improved services in terms of power supply. 

Tuesday, February 13, 2024

What Tinubu Must Do To Avert Food Riots In Nigeria

 By Steve Onyeiwu

AS the saying goes, a hungry man is an angry man. He is also a restive and dangerous man. Nigerians are already very angry and weary about the country’s severe economic challenges; the lack of inclusivity in economic development; the high unemployment rate; extreme poverty; infrastructural decay, pervasive insecurity, and a bleak economic future. For many Nigerians, a persistent and steep increase in food prices would be the last straw that jolts them into violent food riots. 

Prof Onyeiwu 

President Bola Tinubu understands the severity of the problem when he declared a state of emergency on food security in July 2023, and the formation of a Presidential Task Force on food insecurity early this month. It would be recalled that Acting President Yemi Osinbajo also set up a similar task force in February 2017. But long-term solutions require much more than the mere setting up of a task force. Nigerians are sick and tired of task forces, special committees, advisory councils, high-level summits, council of experts, technical committees, extraordinary body of thinkers, leaders of thought, etc. They want action and impactful results, not admonitions, regurgitated solutions, and empty promises.

Tuesday, January 2, 2024

2024: Governments As Our Enemy

 By Ugo Onuoha

A happy new year wish will be in order though it is certainly obvious this will be a thoroughly unhappy and extremely troubling year for a majority of Nigerians. From the 1960s, and especially since the return of democracy [read rule by civilians], governments at all levels, have steadily proved themselves to be enemies of the people. 

At least since 1999, the expectation has been that we will experience government of the people, by the people and for the people. No. That has remained an illusion. What we have had has been government of the rulers, by the rulers and for the rulers. The government as a force for good does not apply in our clime.

Wednesday, December 6, 2023

Inflation Is The Worst Economic Evil, Yet Tinubu Fuels It!

 By Olu Fasan

The first test of any government is its ability to manage the economy. For without a strong economy, a government can’t improve people’s lives; it can’t generate jobs, reduce poverty or tackle insecurity. Hence, a former British prime minister said: “The economy is the start and end of everything”, and an American political strategist coined the phrase: “It’s the economy, stupid.”

*Tinubu
However, this universal truth eludes Nigeria’s new president, Bola Tinubu. His overall economic orientation, dubbed ‘Tinubunomics’, smacks of economic illiteracy. My focus here is not ‘Tinubunomics’ itself, a subject for another column, but Tinubu’s attitude to inflation, the worst economic evil. 

Thursday, October 5, 2023

World Teachers’ Day: Salute To African Teachers

 By Segun Ogunsanya

There is no gainsaying the fact that teachers are crucial to the process of education. In appraising the nexus between teaching and learning, teachers rank highest in importance because they organically facilitate the most critical part of education.

Strictly speaking, the ecosystem, which comprises children, parents, teachers, government, writers, publishers, and now technology innovators,  is brought to life by teachers. They not only facilitate learning, but also provide guidance and inspire learners. Some teachers have been known to exert greater influence on children’s development than some parents.

Thursday, August 17, 2023

All The Noise About The Niger Coup

By Sunny Ikhioya

No empire lasts forever. With what is happening now all over the world, it is clear that man has not learned his lessons. Russia is trying to reclaim its former stake in Ukraine, but is finding it very difficult to do so. This has now caused a bitter rivalry between Russia and the rest of Europe, backed by the United States of America.

The rivalry amongst European powers led to the Berlin Conference in 1885, which approved the partitioning of Africa with arbitrary borders that have existed until today. We are not teaching history in our schools today so that corollary assumptions cannot be linked with what is happening in West Africa; but that is the real issue. It is a race for control and dominance over Africa and its resources all over again. 

Wednesday, June 7, 2023

Unmasking Poverty In Nigeria: The Pains, Deprivation And Remedies

 By Elvis Eromosele

Poverty is a real concern in Nigeria. It permeates the lives of individuals and communities, leaving many trapped in a cycle of deprivation. Poverty is a pervasive issue in Nigeria. It casts its dark shadow over countless lives, leaving individuals and communities starving millions of opportunities for a better future.

Nigeria serves as a poignant case study, a country grappling with the complexities of poverty despite its vast resources. To uncover the true face of poverty in Nigeria is to inspire collective action and foster a society where every Nigerian can thrive.

Tuesday, May 16, 2023

Growing Poverty In Nigeria

 By Peter Imouokhome

In layman’s terms, poverty is seen as the inadequacy of financial means to sustain a needed standard of living or to afford the necessities of life. Now largely tagged a global phenomenon and a state of emergency, previously, poverty was restricted to defined territories and a people. However, this has now been overly properly dimensioned as it is known that even in developed nations of the world, poverty exists.

Today, the first goal of the United Nations Sustainable Development Goals seeks to end poverty in all forms everywhere. There has been a prior understanding of nations of the world in a pact signed under the Heads of Nations in June 1998.

Friday, April 21, 2023

Nigeria: Must We Have This Census Now?

 By Adekunle Adekoya

It is no longer news that the Federal Government has activated plans to conduct a national population and housing census next month. The last time we had a census was March 2006. There is nothing bad in having a census; indeed, a lot of benefits will accrue if we really know how many of us are together in this country.

Historically, the first census was conducted in 1866 and this was followed by Censuses of 1871, 1881, 1891 and 1901. However, all these earlier censuses were restricted to Lagos Colony and its environs. The 1871 census marked the beginning of decennial census in Nigeria in line with British tradition of census-taking every 10 years.

Tuesday, April 4, 2023

Senegal: Strengthening African Independence

 By Obiageli Ezekwesili

I believe there are no coincidences in life. Events are divinely orchestrated. While I am in Senegal, one of the African countries where I feel most comfortable among the many that I have had the opportunity to visit in the course of my professional career, its national Independence Day, celebrated this April 4th, reminds me of how much our continent needs to strengthen and consolidate the gains that its countries have made, through the sweat of their peoples and leaders, over the last 60 years. 

*Ezekwesili 

It is therefore with heartfelt joy that I join millions around the world to express my best wishes for Senegal as it celebrates 63 years of sovereignty and independence. 

Friday, March 31, 2023

Debt Trap And Incoming Administrations

 By Jerome-Mario Chijioke Utomi

It is no longer news that some of the first-term governors-elect will face many months of unpaid workers’ salaries and mounting pension liabilities, as well as agitation for the implementation of the nationally agreed minimum wage, rising inflation, escalating prices of goods and services, and dwindling purchasing power. These incoming governors, about seventeen of them, according to reports will have a difficult time boosting the economies of their individual states because they will take over at least N2.1 trillion in domestic debt and $1.9 billion in foreign debt from their predecessors.

It is equally a common knowledge that in January 2023, Patience Oniha, Director general, Debt Management Office (DMO), while fielding questions from journalists at the public presentation and breakdown of the highlights of the 2023 appropriation act in Abuja, noted that the incoming Federal Government would inherit about N77 trillion as debt by the time President Muhammadu Buhari’s tenure ends in May.

Tuesday, January 31, 2023

Towards A New And Better Nigeria (2): Obi’s ‘No Shishi’ As Political Contract

 By Pieray Awele Odor

I am an OBIdient! I cannot hide my choice or pretend about it. I have told my friends this as we discussed the man who merits to be the next president among the contestants for this highest position in Nigeria and, as Mr. Boris Johnson said, “The best job in the country”; not the best job for me though! I have also told them that what is important is why anyone supports any candidate.

*Obi

This should be the basis for discuss about who should be the next president. I chose to support Mr. Peter Obi because of his four bases for asking Nigerians to vote for him. These are “No shishi”, “Character”, “Track record” and Trust”. This is unique in Nigerian politics! Indeed it is phenomenal! In this piece, as contribution Toward a New and Better Nigeria, I shall discuss “No shishi”.

Thursday, November 24, 2022

Buhari Women, Poverty And Budget Padding

 By Ikechukwu Amaechi

Two stories broke in the last one week that tend to amplify the fact that President Muhammadu Buhari’s goal of running Nigeria completely aground continues apace even as his administration, on the home stretch, and its vuvuzelas, continue to play the ostrich.

*Farouq and Buhari

First, the National Bureau of Statistics, NBS, disclosed on November 17, that 133 million Nigerians are multi-dimensionally poor. That represents about 63 per cent of the estimated population of about 218 million people.

Ordinarily, this information shouldn’t surprise anyone considering that Nigeria had adorned the infamous ‘World Poverty Capital’ badge since 2018. World Bank data had shown since 2016 that four in every ten Nigerians live below the poverty line of $1.9 per day. Two years later, the country was declared world’s poverty capital by the Brookings Institution, knocking off India from the inglorious perch.

Wednesday, November 3, 2021

How Anambra Diaspora Can Support The Political Process At Home

 By Uche Nworah

A diaspora is a large group of people with similar heritage or homeland, who have since moved out to places all over the world. Diasporas live and work in states, regions or countries different from their country of birth, or homeland. The term has been used also to describe Itinerant Nigerians who are scattered all over the world, either as political or economic migrants.

Wherever they find themselves, Nigerian diaspora have always distinguished themselves in the professions, be it medical, academia, sports, technology, finance, business and other fields. 

In an October 2020 publication by the London-based Financial Times newspaper, quoting from 2017 data from the Migration Policy Institute, it said that, “In the United States of America, Nigerians are the most highly educated of all groups, with 61 per cent holding at least a bachelors degree compared with 31 per cent of the total foreign-born population and 32 per cent of the US-born population”. The report went on to say that, “more than half of Nigerian immigrants (54 per cent) were most likely to occupy management positions, compared with 32 per cent of the total foreign-born population and 39 per cent of the United States-born population”.

Wednesday, June 2, 2021

Nigeria Is Falling Apart! How Are We Going To Fix It?

 By Joel Popoola

The 2023 election may feel like a long way off, but the battle to succeed President Muhammadu Buhari is already underway.

But who will step into his big shoes?

Just recently, the influential international news agency, Bloomberg, asked the question “is Nigeria falling apart?”

Unfortunately, it’s hard to argue that it isn’t.

*Buhari 

However, the real question is “how are we going to fix it?”

How are we going to fix an economy where unemployment is 33% and inflation is running at 18%?

What are we going to do to improve the lives of the 80 million Nigerians who live on the equivalent of less than $2 a day – a figure the World Bank predicts may rise to 100 million following Covid-19?

How is a nation economically dependent on oil going to face up to a post-oil future?

Monday, May 24, 2021

Killing Nigeria With Senseless Loans

 By Yemi Adebowale

The 2021 federal budget is N13.8 trillion. It has a deficit of N5.6 trillion and this will be funded, largely, through external borrowing. Over 30 per cent of the funds for this budget 2021 will be loans. This is why President Muhammadu Buhari is asking the National Assembly to approve N2.3 trillion ($6.18 billion) external loan to enable him fund part of the 2021 budget. The loan is part of N4.6 trillion federal lawmakers had earlier approved for his government as contained in the 2021 Appropriation Act. About 33 per cent of budget 2021 is set aside for debt servicing. Is this nonsense making sense? 

*Buhari 
This is the level Nigeria has degenerated while binge-borrowing. Budget figures of the government of the Federal Republic of Nigeria have become voodoo numbers. They persistently bamboozle Nigerians with humorous numerals. The long and the shot of all these confusing figures is that Nigeria is in serious financial mess compounded by binge-borrowing by the Buhari government. This country parades a long list of creditors – World Bank, African Development Bank, French Development Agency, Islamic Development Bank, China EXIM Bank, China Development Bank, European Investment Bank, European ECA, KFW, IPEX, AFC, India EXIM Bank, International Fund for Agricultural Development and the rest of them.

Thursday, May 28, 2020

Nigeria: Wake Up, Sleeping Giant!

By Ugochukwu Ejinkeonye
Tomorrow, May 29, 2020, is what used to be referred to in Nigeria as “Democracy Day,” but now it will only serve as the anniversary of President Muhammadu Buhari's regime and that of some state governors. It is usually a welcome excuse for great celebrations, chest-beating and wild claims about humongous achievements, many of which exist only in the imagination of the mostly failed leaders. 
*Nigeria Leaders: Jonathan, Obasanjo, Buhari
Even the term “Democracy Day” (which is now observed on June 12) is such an excruciating irony in a country where almost all the features that distinguish democratic societies have been brutally obliterated, leaving the populace continually trapped in destabilizing apprehension. 

There would, however, be no parties tomorrow. A hostile, dreaded   visitor called Coronavirus is town! Let’s hope, therefore, that the absence of bacchanals tomorrow will afford our leaders the conducive   atmosphere for deep, sober reflections, to determine whether they have merely added to the suffering and pain of the people or helped, even in some little way, to reduce them.             

If Nigeria is working, we will know! Those were the exact words of late Prof Chinua Achebe, Africa’s foremost writer and distinguished intellectual. In other words, the citizens do not need any bogus claims by government’s megaphones to realise that there is an improvement in their country’s economy because it will automatically translate to an enhancement in their lives.


Saturday, August 31, 2019

Why We Are Failing As A Nation

By Jerome-Mario Utomi
Asked how he was able to grow 15 times, independent Singapore with a GDP of $3 billion in 1965 to $46 billion in 1997 and became the 8th highest per capita GNP in the world in 1997 according to the World Bank ranking? Lee Kuan Yew, the Prime Minister of Singapore (as he then was) explained thus; a united and a determined group of leaders, backed by practical and hard-working people who trust them made it possible.
*President Buhari
The story of Singapore’s progress is a reflection of the advances of the industrial countries – their inventions, technology, enterprise, and drive. It is part of the story of man’s search for new fields to increase his wealth and well being, he concluded.

Friday, November 23, 2018

Waiting For Atiku’s Women

By Banji Ojewale
There is no tool for development more effective than the empowerment of women
Kofi Annan (1938-2018), former UN Secretary-General.
I am among millions of Nigerians who can’t wait for the day God will bless our dear country with a visionary and radical female president, along with a great host of the fairer sex of kindred spirit governing the states and heading the MDAs. The tragedy of an effete economy, social stagnation and political paralysis that we have lived with over the years is the consequence of the neglect of this formidable section of society by our leaders. 
*Atiku  Abubakar 

Developing society and its constituents boils down to making use of all the functional human capital at your disposal. The moment you succumb to so-called imperatives of culture, false religion or superstition, and you drop the women, youth and the working class from your strides, you begin to enter a reverse march. That’s been Nigeria’s misogynist history, always drawing us into the bottomless depths of backwardness. 

Wednesday, July 25, 2018

Abacha Loot: Redistributing Illegally Acquired Funds

By Kunle Uthman
On December 4, 2017 in Washington D.C, United States of America, Mr. Abubakar Malami (SAN), the Attorney General of the Federation and Minister of Justice, Ambassador Roberto Balzaretti, Secretary of State and Director of the Directorate of International Law and Rachid Benmessaoud, Country Director for Nigeria, the International Development Association, IDA,  signed a Memorandum of Understanding, MOU.
*Gen Sani Abacha
It was between the Nigerian Government, the Swiss Federal Council and the IDA  “On the Return, Monitoring and Management of Illegally-Acquired Assets Confiscated By Switzerland To Be Restituted To The Federal Republic Of Nigeria.”