Tinubu’s Spending Spree Fuels CBN’s Aggressive Interventions

 By Olu Fasan

Bola Tinubu, Nigeria’s president, is gloating. The economy “is looking much better”, he says, and wants Nigerians to start rejoicing because their woes will soon be over. In his Easter message, Tinubu told Nigerians that “the seeds of patience, which they have sown, are beginning to sprout and will in no time bring forth an abundance of good fruits.” Abundance of good fruits?

*Tinubu, Shettima and their wives 

Would that mean huge falls in Nigeria’s unemployment and poverty rates, which are among the highest in the world? Harold Macmillan, former British prime minister, famously said: “The central aim of domestic policy must be to tackle unemployment and poverty.” Indeed, one of the core mandates of the US Federal Reserve, America’s central bank, is “to promote maximum employment.” 

Obasanjo Foisted Presidentialism On Nigeria; He’s Still Defending The Indefensible!

 By Olu Fasan

As they prepared to return Nigeria to civilian rule in 1979, the military regime, led by General Murtala Muhammed and later by General Olusegun Obasanjo, set up a 49-man committee to draft a new constitution for Nigeria. However, the regime gave the “49 wise men” a red line: they must not return Nigeria to the parliamentary system, practised after independence from 1960 to 1966. Instead, they should adopt the American-style presidential system. After General Murtala’s assassination in 1976, General Obasanjo took over as head of state and put his imprimatur on the draft constitution, inserting nearly 20 amendments.

*Obasanjo 

So, the 1979 Constitution lied when it ascribed itself to “We the people of Nigeria.” In truth, it was Obasanjo’s military regime, aided by a few civilian elites, that imposed the constitution and the presidential system on Nigeria. Today, over 40 years after Nigeria first practised the system, and despite its patent flaws and unsuitability for Nigeria, Obasanjo is still defending it.

Shettima Goofs: No Forces Want To Pull Down Nigeria!

 By Olu Fasan

Ahead of last year’s general elections, I wrote a piece titled “2023: Shettima Unfit To Be Nigeria’s Vice-President” (Vanguard, September 22, 2022). I argued that despite his education and seeming bibliophilism, Kashim Shettima suffers from negative parrhesia, expressing indecorous views freely without aforethought.

*Shettima

I wrote: “With Shettima’s inherent tetchiness and truculence, he would be gratuitously provocative. And with his uncouthness and indiscretion, he would be utterly divisive and toxifying.” Well, since he became vice-president, Shettima has done enough, with several infuriating comments, to validate my opinion of him. 

Insecurity: Nigeria Needs Regional Police, Not State Police

 By Olu Fasan

Recently, faced with escalating violence across Nigeria, the president, Bola Tinubu, reportedly agreed with state governors to establish state police. The news excited those calling for state police in Nigeria. But the agitation for state police is misguided; it is based on shallow reasoning, not on a rational, hard-nosed analysis of the potential consequences. 

To be sure, Nigeria cannot continue to have a unitary police force that purports to “police” the entire country with orders from Abuja. Equally, however, Nigeria cannot have a mushrooming of ramshackle state “police forces”. What Nigeria needs is formidable regional police with extensive reach across a region. Truth is, in the Nigerian context, the advantages of regional police far outweigh those of state police.

Tinubunomics? It’s Economic Illiteracy Writ Large!

 By Olu Fasan

Bola Tinubu, Nigeria’s self-regarding president, says he deserves an entry in the Guinness Book of World Records for his economic reforms. Speaking at the 10th German-Nigerian Business Forum in November last year, Tinubu said: “To me, if you didn’t mention me in the Guinness Book of Records, I would find a way to insert myself because I did it (the economic reforms) without expectations.” But whether he said that in jest or in earnest, the truth is that he goofed spectacularly, displaying a hubristic detachment from reality.  

*Tinubu

Think about it. When, as president, your policies inflict untold suffering and misery on the citizens, it’s utterly arrogant and insensitive to beat your chest and demand global accolades for your “achievement”. It is also inconsiderate and out-of-touch to tell the citizens to endure excruciating pains now for some pie-in-the-sky gains in the future. Thomas Jefferson famously said that “the care of human life and happiness is the only legitimate object of good government”. But Tinubu’s economic “reforms” immiserate and dehumanise ordinary Nigerians!

2027 Presidency: Atiku’s Political Naivety Beggars Belief

 By Olu Fasan

Atiku Abubakar, former vice president, made his sixth attempt to become Nigeria’s president last year, 30 years after his first foray into presidential politics in 1993. He failed. However, God sparing his life, Atiku wants to make his seventh attempt in 2027, aged 80.

*Atiku 
Leaving aside the age for the moment, what does Atiku think will change in Nigeria’s political landscape in 2027 to make his putative seventh attempt different from his previous six attempts? Simply put, nothing! We are students of our own experience after the event. But Atiku seems to have learned nothing from his past failed presidential bids.

Abuja Vs Lagos: The Perversity Of Nigeria’s Ethnicised, Zero-Sum Politics

 By Olu Fasan

The controversies over the Federal Government’s plans to relocate some departments of the Central Bank of Nigeria, CBN, and the headquarters of the Federal Airports Authority of Nigeria, FAAN, from Abuja to Lagos are yet another proof that Nigeria is deeply divided. The country that the British colonialists cobbled together from several ancient kingdoms and distinct civilisations remains today, over 100 years after its forced marriage of convenience, a fractured state, not a unified nation. Nigeria is so polarised that everything is seen through the prisms of ethnicity and religion, and politics is a zero-sum game. 

In societies where politics is perceived as zero-sum struggles, each group sees its ‘loss’ as another group’s ‘gain’. Therefore, there’s intense loss-aversion, whereby each group fights to protect its interests and prevent ‘loss’ to other groups. But oppositional identities and zero-sum politics are characteristics of a fragile state because they are indicative of deep divisions in the society. Instead of inter-group cooperation to achieve common purpose for mutual gains, every group is concerned about loss to other groups, and that loss-aversion shapes political actions. That explains what’s happening in Nigeria.

Toothless Bulldog: Tinubu’s EFCC Can’t Fight Corruption

 By Olu Fasan

Ola Olukoyede, the chairman of the Economic and Financial Crimes Commission, EFCC, recently appointed by Nigeria’s new president, Bola Tinubu, is saying the right things and making the right noises about fighting corruption in Nigeria. Recently, he struck a chord with me when he called for unexplained wealth legislation in Nigeria.

*Ola Olukoyede

Unexplained wealth laws are the most powerful tool for tackling corruption, as I wrote in a piece titled: “Fighting corruption? Nigeria must tackle unexplained wealth” (Vanguard, November 22, 2021). Yet, despite my positive opinion of the new EFCC chairman, the stark reality is that the EFCC won’t and can’t make an iota of difference in stemming the inexorable rise of corruption in Nigeria. The agency is so bedevilled that it has become part of the problem, not part of the solution.

Betta Edu: Why Ministers Abuse Public Office In Nigeria

 By Olu Fasan

Few things confer greater honour and privilege than being a minister in the government of one’s country. From a wider population, you are one of the select few called upon to run your nation. But a ministerial office is not a source of personal wealth, power or prestige.

*Betta Edu and Tinubu

Rather, it’s a call to service, an opportunity to use your talent to advance your nation’s progress and the wellbeing of its people.

Therefore, it’s an unpardonable betrayal for any minister or officeholder to abuse his or her office and put private gain above public good. Sadly, in Nigeria, private gain triumphs over public good. 

How 2023 Will Affect Nigeria’s Political Stability For Decades

By Olu Fasan

Nigerians, it seems, have moved on from the political events of 2023. Some are already talking about, others planning for, 2027. But the thoughtful and perceptive will not easily forget 2023. For the events of that year will have far-reaching consequences that could unsettle Nigeria for decades. As someone who is heavily invested in Nigeria’s political development, my concern here is how the events of 2023 could deepen Nigeria’s instability, while hoping an alternative aftermath would avert that dreadful political trajectory. 

For a start, following the Supreme Court verdict, Bola Tinubu is now the de facto and de jure president of Nigeria, leaving aside the philosophical question about the nature of his mandate. However, his presidency sets Nigeria on an unstable political future on two key fronts, both regarding the management of Nigeria’s diversity. This may not matter now, it will at some point. But before we come to that, there’s the more imminent problem of the 2027 presidential election. In one sense, 2027 will be like 2015; in another, it won’t. In both senses, 2027 will be acutely challenging. Here’s why.

Pray, Nigeria Needs Patriotic, God-Fearing Judges: Where Are They?

 By Olu Fasan

A few years ago, I wrote a piece titled “Lord, give Nigeria bold and incorruptible judges” (Vanguard, April 25, 2019). That was when state security agents invaded the homes of some judges and seized bags full of foreign currencies, and an incumbent Chief Justice of Nigeria was sacked, arrested and arraigned before the Code of Conduct Tribunal on corruption charges.

Nearly five years later, I’m repeating the prayer, and I urge fellow Nigerians to join me in saying it. For the rot in Nigeria’s judiciary is deepening and there’s fear of endemic perversion of justice. Even normally reticent senior judges and lawyers are no longer silent!

COP28: Tinubu’s Hypocrisy On Climate Change

 By Olu Fasan

So, Bola Tinubu, Nigeria’s new president, believes that climate change is a Nigerian problem after all. In fact, so much does he believe Nigeria has a climate-change problem that he led a delegation of 1,411 people to this year’s United Nations climate summit, COP28, which took place in Dubai, United Arab Emirates, from November 30 to December 12. Yet, just a few months ago, Tinubu was cynical and dismissive about climate-change mitigation in Nigeria.

*Tinubu with some members of the large Nigerian delegation to COP 28

In October last year, during the presidential election campaign, Tinubu spoke at the interactive session of the Arewa Joint Committee in Kaduna. Asked about climate change, he responded: “It’s a question of how you prevent a church rat from eating poisoned holy communion.” He then added: “We need to tell the West, if they don’t guarantee our finances, we are not going to comply with their climate change.”

Liberia Practises True Democracy, Why Can’t Nigeria?

By Olu Fasan

Nigerians are quick to react to events in other countries and draw parallels with realities at home. But, despite such inquisitiveness and international awareness, Nigeria never learns the right lessons from other nations. A case in point is Liberia’s recent presidential election.

Everyone hailed President George Weah for conceding defeat in a remarkably close election instead of using his incumbency to rig the election. Indeed, President Weah deserves kudos for conducting a credible election and allowing a peaceful transition of power. But here’s the main lesson: Liberia’s political system allows the will of the majority to prevail.

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. 

Supreme Court Verdict: Tinubu Is The Diego Maradona Of Nigerian Politics

 By Olu Fasan

Professor  Wole Soyinka, Africa’s first literature Nobel laureate, published his critically-acclaimed novel, Chronicles From the Land of the Happiest People On Earth, in September 2021. So, he probably didn’t have the 2023 presidential election and Bola Tinubu, who emerged president, in mind when he wrote the book. However, reading the novel, one gets the impression that Professor Soyinka foreshadowed the election and its aftermath.

*Soyinka and Tinubu 

In a post-publication interview with the Financial Times, Professor Soyinka said he wrote the book “to confront Nigeria with its true image”. Indeed, Sir Ben Okri, the recently knighted Nigerian-British writer, described the book as Soyinka’s “magnus opus on the state of his homeland”. Of course, when someone writes a novel, he or she has no control over how the reader interprets it, more so when the novel is verisimilitude, having an appearance of reality. Therefore, for me, Professor Soyinka’s novel provides a powerful framework for analysing the 2023 presidential election, the Supreme Court verdict and Tinubu. 

Active Citizenry: If Nigerians Don’t Hold Their Leaders Accountable, Who Will?

 By Olu Fasan

Nigeria is one of the very few countries where politics is the most attractive human endeavour, where holding a political office is more profitable than running a business. In Nigeria, politics is the quickest route to wealth, thanks to outrageous salaries and allowances – Nigeria’s federal legislators earn far more than their American counterparts – and corrupt self-enrichment.

In Nigeria, politics is largely a quest for private gain rather than public good. But nothing entrenches these perversities more than the lack of strong institutions and active citizenry. For not only do the system and the citizens allow wrong politicians to get to power, there’s virtually no institutional or societal pressure to hold elected politicians accountable. 

Buhari ‘Bankrupted’ Nigeria, But Who ‘Made’ Him President?

 By Olu Fasan

Last week, I wrote about the lack of accountability in Nigerian politics. I submitted that most Nigerians are unquestioning about their leaders, and uncritically accept whatever they’re told. Nothing proves this better than the self-serving narrative that Bola Tinubu’s government pushes about what it inherited from the Buhari administration, and the sympathy some Nigerians profess for Tinubu.

*Tinubu and Buhari 

Recently, Nuhu Ribadu, National Security Adviser, said the Muhammadu Buhari government bankrupted Nigeria. “We have inherited a very difficult country, a bankrupt country,” he said. Governor Dapo Abiodun of Ogun State later said: “Tinubu inherited an administration that was almost comatose.” Tinubu himself set the tone earlier in a speech titled “After Darkness Comes the Glorious Dawn”, saying: “We are exiting the darkness to enter a new and glorious dawn.” Unmistakably, the Buhari administration he succeeds is “the darkness”. 

Wike As FCT Minister: An Insult To Nigeria’s Sensibility

 By Olu Fasan

Let me say this unequivocally. A Southern-Christian is perfectly eligible to be Minister of the Federal Capital Territory, Abuja. Without a shadow of a doubt, a Christian from Southern Nigeria is as much qualified as a Muslim from Northern Nigeria to administer the FCT.

*Wike 

So, this intervention is not an endorsement of Sheikh Ahmad Gumi’s recent diatribe against a Southern-Christian Minister of Abuja. However, while a Southern-Christian is eligible to be FCT Minister, that Southern-Christian, just like any Northern-Muslim, must be a fit and proper person. I submit that Nyesom Wike, the rumbustious and self-regarding former governor of Rivers State, is not a fit and proper person to be FCT Minister. Why?

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. 

The Truth About Fuel Subsidy: Government Simply Fails Nigerians

 By Olu Fasan

Subsidy is gone. Subsidy is back. Oh no, it isn’t. Oh yes, it is. Such is the confusion that now dogs the fuel subsidy. On May 29, Bola Tinubu veered from his inauguration speech and blurted out: “Subsidy is gone”. With that diktat, market forces would dictate petrol price. Soon after, the price tripled from N197/litre to N620/litre, fuelling a surge in food and transport costs. However, surreptitiously, some subsidy seems to have returned to stop the soaring price of fuel. But the Tinubu administration denies any intervention.

Yet, market operators are adamant. In a recent interview, Festus Osifo, National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, said “the government is still paying subsidies on petroleum”. Mele Kyari, Group Chief Executive Officer of the Nigerian National Petroleum company limited, NNPCL, issued a rebuttal: “There’s no subsidy whatsoever.” But John Kekeocha, National Secretary of the Independent Petroleum Marketers Association of Nigeria, IPMAN, said the government “is still spending billions to subsidise fuel,” adding: “I don’t know why they keep peddling lies.”