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CBN: Emefiele Returns, Amidst Call For His Arrest

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CBN Gov Emefiele

Will Godwin Emefiele, Central Bank of Nigeria, CBN,  governor be arrested by the Department of State Services, DSS, now that he has returned to the country? 

The CBN said on Monday that Emefiele is back to work after his vacation abroad.

Emefiele has been away from the country since last year prompting not a few to suggest that he feared arrest by security agencies on his return.

But, according to Osita Nwasinobi, CBN Director, Corporate Communications“The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, has resumed duty after his annual vacation abroad. Mr. Emefiele, who proceeded on leave in December 2022, resumed work today, Monday, January 16, 2023.

“The Governor resumed with renewed vigour to perform his duty ahead of the first Monetary Policy Committee (MPC) meeting of the year scheduled for January 23 to 24, 2023.

“Mr. Emefiele remains committed to performing the task before him in line with his oath of office and the policy direction of President Muhammadu Buhari.

“While thanking the public for keeping faith with the Bank, we urge Nigerians to continue to support the policies of the Bank aimed at ensuring a stable financial system and the Nigerian economy in general.”

The big poser in the minds of those that have been watching the drama that has ensued between the DSS and CBN since the last two months, particularly after the botched attempt by the secret police to arrest Emefiele, is whether the DSS will now finally take him into custody for interrogation.

Recall that Femi Falana, a human rights lawyer had on Sunday called for Emefiele’s arrest, noting that the DSS do not require any court order to arrest Emefiele.

Also earlier today, report surfaced that the CBN headquarters in Abuja, the nation’s capital was invaded by the secret police.

Peter Afunayan, the DSS spokesman later debunked the report.

The apex bank governor had escaped arrest last year  after an FCT high court ordered the DSS not to arrest him, citing insufficient evidence on it’s part, to the effect that Emefiele was involved in terrorism financing and economic sabotage.

The magazine learnt from competent sources that apart from the legal constraints facing the DSS on the issue, it has not received approval from the presidency to interrogate Emefiele.

“You cannot just arrest the CBN governor without the president’s approval. In fact, if it were that easy the DSS will not be looking for legal means to cover it tracks,” a source said.

The presidency source further claimed that ” Buhari will not allow his administration to be embarrassed, because this is what will happen if the DSS arrest Emefiele, who is a top appointee in the government and holding a very sensitive position.”

A clear evidence that the CBN governor still enjoys the support of the president, according to analysts, surfaced late last year after Buhari threw his weight behind the CBN over its decision not to extend it’s deadline of January 31, 2023 on the new redesigned naira notes.

Serious pressure had been mounted on Emefiele from many Nigerians, including top echelon of the ruling All Progressives Congress, APC, to move the date forward.

“It only took Emefiele a private visit to President Buhari in Daura, Katsina for the president to validate CBN position on the issue,” another source said.

Ondo Hosts 21st  Polytechnic Games

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Ondo Polytechnic Games

By Ayodele Oni

Polytechnics in the country converge on the ancient town of Owo, Ondo state for the biennial  edition of the Nigeria Polytechnic games (NIPOGA).

The event, which is 21st edition, is featuring a total of 40 polytechnics, both Government and private, including the Federal Polytechnic Auchi, Plateau state Polytechnic Barkin Ladi Jos, Nuhu Bamili Polytechnic Zaria.

They are expected to feature in nine different sports, which include Basketball, Squash, football, Badminton, Volleyball among others.

At the opening ceremony, Guests described the event as another key avenue to use sports to foster unity, peace and discover talents among Nigerian youths.

The ancient town of Owo is hosting students, officials and other stakeholders from other parts of the country for the 21st NIPOGA , an event which many agreed was necessary to foster unity among Nigerian youths.

President, NIPOGA and the Rector, Rufus Giwa Polytechnic Owo, Mr Adebola Ogundahunsi said the target of this year’s edition was not just hosting, participating or winning, but creating opportunity for young Nigerians to come together, interact and also exhibit their skills and talents.

Also speaking, the Olowo of Owo Oba Ajibade Ogunoye called for more games and programmes that would bring people from different cultures together saying such would further promote unity of the nation.

Oba Ogunoye called on relevant stakeholders not to ignore sports as a vital tool that could transform youths elevating them from the grassroots to stardom.

Earlier, Ondo State Governor, Mr Oluwaroimi Akeredolu represented by the commissioner for youths and sports development, Mr Bamidele Ologun said the state would not stop investing massively in youths.

The 21st NIPOGA ends on Saturday, January 21st.

Peter Obi Says Ethnic Agitations Product Of Failed Leadership

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Peter Obi at Chatham House

By Akinwale Kasali

Labour Party, LP, Presidential Candidate, Peter Obi has lamented the pathetic state of the Nigerian Nation. He also blamed ethnic agitation as a product of failed leadership.

The former Anambra State Governor said that the absence justice, equity and fairness has plunged the Nation to its present sorry state. The narrative needs to be changed, he submitted

He spoke while fielding questions at the Chatham House, London, on Monday January 16, 2023.

Obi said he was not in support of ethnic agitators, but stated that it is important to address and identify the causes of their agitations and find a lasting solution to it.

Ajiboye Tunmise from Huddersfield University asked Obi about his alleged refusal to condemn the activities of members of the secessionist group, Indigenous People of Biafra, IPOB. In his response,  Obi said: “Many are not following me. Even yesterday, I spoke about Biafra being ended 53 years ago. It’s all over the place in the cyberspace.”

“I condemn all agitators, but in condemning them, you have to look at what brought about these agitations all over the place.

“Not only IPOB. We have (the) Yoruba Nation movement and all sorts. When you have created this level of massive poverty where 63 per cent of your population is poor, you’re going to create all sorts of problems,” Obi said.

He also stated that the unemployment rate in the country added to the ethnic agitations being experienced, noting that all was a cumulative effect of leadership failure over the years.

“I was speaking to a British Minister this morning that we have about 40 per cent unemployment (rate) and about 60 per cent youth unemployment (rate), young people in their productive ages doing nothing. If you have 15 per cent unemployment rate in Britain today, you’re going to have massive agitation. Nobody will be able to leave his house.

“So, what you’re seeing is a cumulative effect of leadership failure over the years which will be solved by good governance; when people start seeing justice, fairness and inclusive government and doing the right things, all those things will start reversing themselves. And that is what I and Datti (Baba Ahmed) are offering,” he said.

Obi added that he would engage all agitators in the country, insisting that there was nothing wrong with that approach to resolve the issue.

“I will talk and discuss with agitators, and there’s nothing wrong in that. People agitate in my house and I talk with them,” he stated.

Emefiele Not To Blame For Fiscal Rascality – Obi

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Peter Obi and Godwin Emefiele

By Uche Mbah

The Presidential Candidate of the Labour Party, Peter Obi, has said that the Central Bank of Nigeria’s Governor, Godwin Emefiele, is not to be blamed for the economic woes bedeviling the country.

Emefiele has been under fire from the Department of State for sundry allegations, including sponsoring terrorism.

While speaking at the Chatham House in London Monday, Obi blamed  Nigeria’s weak fiscal environment for the country’s economic woes.

*Under our Government the CBN Governor will maintain his independence, he will be respected. Again, it is not the problem of the person there. Central Bank has a role of monetary policy. Then, you have the fiscal space. It’s like  you go to a football match and the person who is supposed to be playing a particular wing is no longer there. You find people playing various wings”, he said.

There has been questions too of Emefiele’s priorities in fiscal disbursement, with many blaming him for the near total collapse of the Naira. But Obi insisted that it is the Executive environment he operates from that is to blame.

“The weakness of the fiscal space allowed the monetary space to take over… because of the weak governance structure, that is why we are able to do what we are doing”,he stated.

“Replacing Godwin (Emefiele) and putting somebody else there, with that level of fiscal rascality, which is what is fuelling our inflation and our rate of exchange today… these are some of the things we need to cut. As long as the government continues on that fiscal rascality, our situation will occur.”

Attack On INEC Facilities Persists, As Gunmen Kill Policeman, Destroy INEC Enugu Office

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INEC Office in Enugu

By Akinwale Kasali

The attack on the facilities of electoral umpire, the Independent National Electoral Commission, INEC, is yet to abate as gunmen, has again, attacked the Commission’s office in Enugu South Local Government Area, Enugu State.

The INEC facility was said to have been attacked on Sunday. A Policeman attached to protect the facility was  killed while other Police officers sustained high degree of injuries, and are currently receiving treatment at an undisclosed hospital.

According to Festus Okoye, the National Commissioner & Chairman, Information and Voter Education Committee, the attack occurred around 9.12pm on Sunday.

Okoye stated: ”The Resident Electoral Commissioner (REC) for Enugu State, Dr. Chukwuemeka J. Chukwu, has reported that our office in Enugu South Local Government Area was attacked by unknown gunmen. The incident occurred around 9.12pm yesterday, Sunday 15th January 2023.

“The security gatehouse was razed. Fortunately, the attackers could not gain access to the main building as a result of the rapid response from the Police and Army personnel from 82 Division.

“The State Commissioner of Police and the REC were personally at the scene immediately they received information about the attack. Of the two Policemen deployed to protect the facility, one of them lost his life while the other sustained injuries and is receiving treatment.

“The Commission prays for the repose of the soul of the deceased policeman and the speedy recovery of the injured.”

The INEC Commissioner further disclosed that the attack is under investigation  by Security Agencies.

Furthermore, a meeting of the Inter-Agency Consultative Committee on Election Security (ICCES) in Enugu State co-chaired by the REC and the Commissioner of Police has been convened to discuss the latest incident and design additional strategies for fortifying the offices and protecting the personnel and materials.

“Meanwhile, the destroyed gatehouse will be rebuilt, and the Commission is proceeding with its preparations for the 2023 General Election in Enugu State and the entire country as scheduled,” he stated.

This is the third attack on INEC facilities in the South East in less than one month, prompting the INEC Boss, Professor Mahmood Yakubu to call on Security Agencies to bring the perpetrators to book.

IPOB Tells Soludo Not To Bother Standing As Surety For Kanu

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By Akinwale Kasali

Anambra State Governor, Chukwuma Soludo has been told by the Indigenous People of Biafra, IPOB, that his plan to stand as surety for the unconditional release of its Leader, Nnamdi Kanu, from Federal Government is needless.

Though, the Secessionist Group hailed his decision and thanked him,  but it said that the issue of granting of bail or standing surety does not arise at this time because the Federal Government has breached the order of a superior Court of competent jurisdiction.

The Pro-Biafra Group stated that Kanu had been  discharged and acquitted since October 13, 2022, by the Court of Appeal and do not have any need for surety because there is no charge hanging on him as of today.

A statement by its Media and Publicity Secretary, Emma Powerful, on Monday, stated that, “We have gone beyond the issue of surety or no surety, every genuine call and demand in the prevailing circumstance should be  firmly directed at calling out on the Federal Government of Nigeria to immediately obey the order for the unconditional release of Kanu made by its own court.

“Though the said call for the unconditional release of our leader is belatedly coming three months and one day, after the Court of Appeal, Abuja judicial division, in its erudite judgement delivered on October 13, 2022, discharged and acquitted the leader of IPOB and all the remaining eight-count amended charges preferred against him, and consequently directed for his unconditional release.

“The landmark judgment further prohibited the Federal Government from further detaining our leader or even presenting him for trial on any indictment or offence whatsoever before any court in Nigeria.

“It is important therefore, to clarify that our leader has no form of indictment or even charge pending against him today before any court by the authority of this judgement.

“The issue of granting bail or otherwise does not arise by any stretch of consideration or imagination, because it is the Federal Government that is today in breach of this order of superior court of competent jurisdiction.

“May we also remind Governor Soludo and others, that Kanu’s current incarceration is not sanctioned by any law known to man, it is unconstitutional and affront to constitutional democracy and rule of law.

“Further to the above, is the fact that Kanu has no case to answer again, therefore, the need for surety does not arise, instead Soludo should gear all his efforts towards persuading and compelling on the lawless rulers of Nigeria to obey their own law.

“It is to be pointed out further, that this kind of plea is the reason why the rulers of Nigeria have no regard for the rule of law, why should we be pleading with them to obey their own court orders directing for the unconditional release of Kanu? It’s compelling and mandatory on their part to obey their own court orders.

“Federal Government is today in grave contempt of the orders of court of its own court, and their appeal before the Supreme Court can not justify the present illegal incarceration of our leader in a solitary confinement in DSS.”

Governor Soludo had earlier said that he was ready to stand as surety for the IPOB leader in order to secure his release.

Kanu has been in Government custody since June 2021.

Tinubu, Not Atiku Should Withdraw From Presidential Race – PDP

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By Ayodele Oni

The Peoples Democratic Party (PDP) has reacted to the call by the All Progressives Congress (APC) that its Presidential Candidate, Atiku Abubakar, should quit the Presidential race and be prosecuted.

The Tinubu/Shetima Presidential Campaign Council had on Monday listed some allegations as raised by a whistleblower against Atiku. It called on security agencies to arrest and  prosecute Atiku.

But in response, PDP said it “dismisses as irresponsible attempt by the All Progressives Congress (APC) and its incoherent Presidential Candidate, Asiwaju Bola Ahmed Tinubu, to divert public attention from the issues affecting Nigerians.

“It is indeed ironic that an embattled Tinubu, who is beleaguered by uncountable cases of fraudulent activities, including perjury, forgery, treasury looting, corruption and narcotic-related conviction can attempt to impugn on the unimpeachable integrity of the PDP Presidential Candidate.

“For clarity and for the interest of Nigerians, it is on record that Atiku Abubakar is one of the most investigated public officials in this country.”

A statement signed by Debo Ologunagba, PDP spokesman added that “It is also on record that in all the investigations undertaken over him and his affairs, Atiku Abubakar was never found culpable in any of the allegations.

“In contrast, however, the APC Presidential Candidate has a litany of confirmed legal impediments on very grave issues including those that boarder on international crime, namely; trafficking in narcotics and taking proceeds of narcotic.

“In the recent case revealed in the United States of America, it is on record that the APC Presidential Candidate forfeited the sum of $460,000 which was confirmed and found to be proceed of trafficking in narcotic; an international crime for which Nigeria, being a signatory to International Convention on trafficking in narcotic is obliged to enforce.

“The effect of the conviction and forfeiture of the sum of $460,000 by Asiwaju Tinubu confirms that he is ineligible and not qualified to contest for the Office of the President of Nigeria as required by the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

“For clarity, Section 137 (1) (d) of the Constitution of Federal Republic of Nigeria, 1999 (as amended) provides that:(1) “A person shall not be qualified for election to the office of President if… (d) He is under a sentence of death imposed by any competent court of law or tribunal in Nigeria or a sentence of imprisonment or fine for any offence involving dishonesty or fraud (by whatever name called) or for any other offence, imposed on him by ANY COURT or tribunal or substituted by a competent authority for any other sentence imposed on him by such a court or tribunal.

“Having been convicted, sentenced and fined for narcotic trafficking in a criminal suit filed pursuant to the United States Criminal Code, Asiwaju Tinubu cannot by virtue of Section 137 (1)(d) of the Constitution of the Federal Republic of Nigeria 1999 (as amended) seek office as President of Nigeria.

“The APC Presidential Candidate has not come out to deny the conviction and forfeiture or show evidence of any attempt by him to challenge or appeal the judgment, apparently believing that it will slide with time.

“Asiwaju Tinubu ought to know that time does not run against the State in a criminal matter!

“He should therefore withdraw from the Presidential race having been found ineligible and not qualified to run or to contest for the Office of the President of Nigeria under the provisions of the Nigerian Constitution.”

Obi At Chatham House: My Presidency Will Dismantle Inefficiency, Stop Transactional Policies In Government

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Peter Obi at Chatham House

The Labour Party Presidential Candidate, Mr Peter Obi, was a Guest of Chatham House, the famous British international Policy institute. There, he told the excited audience that Nigeria’s Presidency, with him and Yusuf Datti Baba-Ahmed in charge, will dismantle inefficiency and eliminate transactional policies that breed corruption in government.

Obi, who took over 15 questions from the audience after his brilliant paper on various sectors, said they will dismantle the structure of criminality which they have been using to hold the country hostage.

Stating that “there will be no sacred cow” under the Obi-Datti administration, the Labour Party Presidential candidate said that “our objective is to dismantle these structures of criminality and enthrone competence, character, and capability so that talents and ideas can flourish.”

On how he intends to cope with possibly having a National Assembly that may be dominated by other parties, Obi said he went through such experience as Governor of Anambra state when none of the 30 members of the State of Assembly came from his political party, adding that what he needed to navigate such case is to do the right thing, avoid nepotism and transactional policies,  because even the parliamentarians desire good governance.

Responding to a question on the Indigenous Peoples of Biafra (IPOB), and why he has not condemned them, Obi said that for him and many other reasonable Nigerians, including the Igbo, the Biafra war ended 53 years ago. But he is not oblivious of the agitators’ demands for justice.

According to him, “we are going to look into the issue of justice and marginalization which  some of them are hinging their grievances on.

“We are going to apply the carrot and stick method in dealing with the agitators. But in the end there can only be one Government and we will be in charge.”

On how to attract investors to Nigeria which was asked by a former British High Commissioner to Nigeria, Paul Arkwright, Obi likened what he intends to do to attract investors to bee and honey, and said he will create an enabling environment where rule of law thrives and will avoid any transactional policies which breeds corruption and weakens governance.

On security, Obi said it will be his top priority because everything will be done to secure the environment and he will do this by first turning the country into production and pulling people out of poverty and adequately utilizing our military.

Obi noted: “Our military once secured Africa and they should secure Nigeria and we will provide the needed leadership and political will.”

He also answered questions on the independence of the Central Bank of Nigeria (CBN), saying that what is happening in the apex bank now is a consequence of a mix up of responsibilities and not necessarily of competence, a situation he assured his regime will correct by ensuring that square pegs are in square holes both in personnel and policies.

Obi also said that the on-going fiscal rascality in the system will be dismantled and order and discipline injected into the country’s monetary policies.

On how to navigate the so called ‘big boys’ to be able to see through his beautiful policies if elected, the LP standard bearer said the challenge will be surmounted as there will be no sacred cow.

The former Anambra state Governor also provided convincing answers to questions on education, Health, debt servicing among others to win the consistent applause from the audience.

Obi gave indication of his preparedness for the program when he was offered a seat by the moderator of the program, and he respectfully rejected it, saying the problem in Nigeria his country is so serious and not for sitting down. He stood all through the nearly two hours program.

Millions of people within and outside the country followed the program via social media and 99% of the comment’s eulogized the Candidate for his brilliant outing.

Keyamo  Calls For  Atiku’s Arrest  Over Corruption Allegation; Petitions EFCC, ICPC

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Festus Keyamo

By Akinwale Kasali

Spokesperson for the All Progressives Congress, APC, Presidential Campaign Council, Festus Keyamo, SAN, has vowed to get injunction for the arrest of the Peoples Democratic Party, PDP, Presidential Candidate, Atiku Abubakar.

In pursuit of that, Keyamo has petitioned anti graft agencies, the Economic and Financial Crimes Commission, EFCC, the Independent Corrupt Practices and Other Related Offences, ICPC, and the Code of Conduct Bureau, CCB, and urged them to arrest the PDP Presidential Candidate within 72 Hours on Corruption allegations.

Keyamo is demanding that the Chairmen of the anti graft agencies invite and arrest the former Vice President. Failure to act on his petition over alleged offences bothering on  money laundering, criminal breach of trust and criminal misappropriation, conspiracy, and other offences against the code of conduct for public officials, he would proceed to the next step.

Keyamo noted that he was not writing the petition as a Politician, or as the spokesperson for the APC Presidential Candidate, but as a Legal Practitioner and as a former private prosecutor for the EFCC.

He said Nigerians are worried over the recent revelations by a whistleblower and ex-aide to Atiku, Michael Achimugu, which alleged  that the former VP laundered money through some companies regarded as ‘Special Purpose Vehicles’, using trusted allies as Shareholders and Directors.

Keyamo said, “For about a week now, Nigerians have been in shock over the public revelations of a whistleblower, Mr. Michael Achimugu, who has provided the nation with evidence of letters of appointment by Atiku Abubakar, e-mails, documents, audio clips, sworn affidavit and his direct oral evidence as to how Atiku, who happens to be the Presidential Candidate of the PDP, during his tenure as Vice-President of Nigeria between 1999 and 2007, colluded with his then boss, ex-president Olusegun Obasanjo, to fleece the country and steal public funds using what he termed as ‘Special Purpose Vehicles.’

“Those SPVs were companies which Atiku admittedly registered upon assumption of office as the VP (with the approval of Obasanjo) using “trusted allies” as shareholders and directors.

“The purpose was to divert government contracts to these companies as “consultants” and then pay monies into these companies and use those monies to fund the PDP, their private businesses and family activities.”

Attaching certified true copies of the affidavit sworn to and released to the public by the whistleblower, Achimugu, Keyamo asked the Agencies to act urgently, not minding Atiku’s current position as a Presidential Candidate.

He noted  that the matter was of great national interest, and made reference to the investigation by the Federal Bureau of Investigation into the allegation of misuse of private emails by Hillary Clinton when she was Secretary of State, during the 2016 presidential election in the United States of America.

He added, “In fact, the case (Clinton’s) was referred to the Justice Department for likely prosecution few weeks to actual voting.

“I understand that the law enforcement agencies may be reluctant to act simply because of the perception of persecution of a presidential candidate that this may evoke.

“However, facts are sacred. The facts so far presented to the world clearly indicate that Atiku has a case to answer. In other climes when such serious allegations arose in the middle of campaigns, the law enforcement agencies acted decisively.

“Take further notice that if you fail, refuse and/or neglect to act, I shall be proceeding to court to compel you to act.”

Policy And Institutional Reforms At The Heart Of The 2023 Elections In Nigeria  –  Peter Obi (At Chatham House)

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Peter Obi at Chatham House

In agreement to the primacy of gratitude among human virtues, please allow me to begin today with words of gratitude. I am most grateful to Chatham House, Dr. Alex Vines and his team for the global impact of their mission and commitment to engagement with Nation building in Nigeria. In providing this global platform to interrogate the vision of those seeking to lead Nigeria, at this time when clear existential threats as I will discuss shortly are pervasive across our dear country, this Chatham House event challenges us to new thinking.

We have alarming insecurity that has led to loss of many lives and properties, significant decline in food and economic output, immense trauma that has compromised the mental health of communities, and in some cases, irredentist pressures and disaffection with the Nigerian project. The economy is in crisis with a troubling debt profile worsened by oil theft of proportion once hard to even imagine, two economic recessions in six years and a lamentable power sector that significantly constrains manufacturing and social life. The Nigerian state is captive to an elite gang-up and a rentier political economy that has concentrated political power in the hands of those who came to power and influence mainly through their own contrivances and not through the affirmation of the people, and therefore, do not have the incentive to serve the people’s interest.

Even after exploiting ethnic and religious cleavages and sentiments to ascend to political power, the very people on whose sentiments they grabbed power often become the primary victims of such political fraud that has rendered Nigeria a failing state with a worsening leadership crisis. Consequently, Nigeria’s Democracy has been on the wane, evident in the Afrobarometer longitudinal tracking which reveals low voter turnout and apathy in the current Republic.

But this seems to have turned around dramatically last year, allowing Independent National Electoral Commission (INEC) to register over 12 million new voters, with many more complaining they wished to register but were unable to make INEC deadlines. What prompted this turn-around? The reasons for these very high stakes are lurking in facts of demographics, with our dominant population (the youths) frustrated and unhappy with the status quo and the diminished opportunities in Nigeria in an age of globalization when the Internet easily reveals to them the prosperous homes of those who live in better-led and governed countries.

How did we (Nigeria) plunge into such economic decline that we have overtaken India as home to the biggest pool of the absolute poor in the world? While the poverty rate in India is about 16%, that of Nigeria is about 63% with about 133 million Nigerians classified as multidimensionally poor! This is unacceptable and needs to change! What Nigeria needs is a Great Escape as the 2015 Noble prize winner in Economics Angus Deaton of Princeton University elucidated, that what separates poor & rich is attributable to Health & Education. But what provides Quality Health and Educational Systems for a society? Committed and Focused Leadership that can Build and Sustain Public Wealth as I was told by Professor Donald Jacobs of The Kellogg School of Management.

In many ways, this is at the heart of my remarks today which are deeply rooted in my upbringing, particularly my mother’s counsel that I live a life of positive impact and manage both personal and public resources most prudently for sustainable/inclusive growth and development of the society. It is the principle that guided my stewardship as Governor of Anambra State, Nigeria and led to our much-commended performance with some priced awards to show for it. Some of the awards were for outstanding accomplishment in key Millennium Development Goals (MDGs) now Sustainable Development Goals (SDGs). It is the same counsel and principle that is guiding and motivating me to offer to serve in a New Nigeria!

The answer lies in an understanding of Leadership, Institutions and Demographics. The good news is that demography is driving the change we are seeing in Africa with election after election in the last year in Africa, in which the establishment parties are being upturned by new or small parties. It is for this change that my vision of policy change and institutional development is rooted in the push for a broadened scope of SOCIAL MOBILITY AND FREEDOM for Nigerians, particularly our children and youth. Like Former British Prime Minister Harold McMillan said at the start of the Independence decade, a wind of change is blowing through Africa. Today a new wind of change sees the ballot box as being instrumental to changing of bad leadership.

Senator Yusuf Datti Baba-Ahmed, my running mate, and I are committed to a new politics that starts with the ethics of servant-leaders and anchored on the marriage of clean hearts and skilful hands. We know that unless we change our politics by changing our political leadership, we are stuck with this terrible state of underdevelopment and misery. We will patriotically reform our institutions particularly ones directly responsible for implementing Government policies to make them fit for purpose. It is not to be doubted at the global scene that Nigeria is blessed with some of the most entrepreneurial youths in the world, in science, in business, in art and entertainment. We believe that what remains is to change the leadership class from predators to creators of value; from those whose wealth and power derive from the destitution of the nation and its peoples to those who have demonstrated the competence, character and capacity to invest in human development, create prosperity, and instill the right values and ethical conduct deserving of servant leaders.

Nigeria today is at a critical  juncture and the people, led by the youths brutalized by bad leadership, are awake and leading the movement to transform Nigerian politics and restart the engine of economic growth and social stability. We count ourselves honoured to be trusted especially by the youths, to lead this democratic revolution and we deeply pledge to do so with sincerity, accountability and unquenchable love and desire for a better Nigeria. We are simply, the symbol of the Nigerian youths’ struggles to reverse the ugly trend that keeps driving them into social anomie, despair and rejection of their beloved country. We are determined to do everything that needs to be done to rescue and lead our beloved country to prosperity, freedom, security and peace. We will use merit to assemble competent Nigerians from all sections of Nigeria to form an effective Government of National Unity.

At the heart of my goal here today is to look at our Labour Party’s key policy planks and how they will drive up the quality of life of the average Nigerian, dramatically reduce poverty and return Nigeria to a place of strategic relevance in a world that needs a thriving and well governed Nigeria stabilizing the continent of Africa, making it a high value add for a planet imperilled by environmental challenges, terrorism and inequity. I also plan here to speak on institutions and how the leadership we offer can facilitate the evolution of stronger institutions, with the rule of law a key anchor of Nation building in Nigeria. I have no doubt that the policy choices we favour, and the strong institutions Labour Party will facilitate, will move Nigeria from a country of rent seekers sharing Oil receipts and consuming conspicuously, to one that produces, based on vast factor endowments whose value chains can move us towards a high employment economy. We will turn our youth bulge to a demographic dividend, rather than today’s harvest of a time bomb of violence and insecurity from the uneducated, unemployed and marginalized.

This forms the first and most important thrust of my governance priorities without which the rest may not be achieved: “To secure Nigeria, end banditry and insurgency, and unite our dear nation to manage our diversity, such that no one is left behind”. The growing insecurity in Nigeria is not because the enemy is formidable, it is rather because of lack of focused leadership, ineffective security governance structure and poor coordination from the centre. All these need to be addressed by first, projecting strong leadership signals that allow both state and non-state actors to be mobilised around a single vision. Then, by pursuing a robust reform of the security governance structure with a strong coordinating mechanism that assures that all levels of government – federal, state, and local (with 3-level policing structure) – are aligned with strong collaboration with partners from both the private sector and development groups to provide the required services and deliver results for every Nigerian. Once this is done, it is also important to have a single, clear, coherent, and consistent communication system to keep the government accountable, citizens engaged and involved in the development process. It is important for institutions to be able to provide strong leadership, coordination capability, partner and engage collaboratively with all relevant stakeholders in an environment that mutually reinforces values.

The second plank of my policy thrust is to “Shift emphasis from consumption to production by running a production-centered economy that is driven by an agrarian revolution and export-oriented industrialization”.  With about 70 million hectares of arable land, we will pursue an agricultural revolution through proper segmentation of Nigeria to activate and harness the factor endowments of different parts of the country for both rapid and mechanized agricultural development and as a pillar for Nigeria’s other sectoral development and industrialization. We will incentivise and invest in agro-cluster and industrial cluster development across our geo-resource zones to take advantage of agglomeration and scale effects particularly in North-West, North-East and North-Central regions of Nigeria. We will dredge both Rivers Niger and Benue, build dams and massively support the planting of economic trees across the country for local usage, poverty elimination, export and revenue generation.

A key task is to sequentially but decisively, dismantle the inefficient and anti-market distortionary structures restraining the Nigerian economy from creating the preconditions for a dynamic pro-market economy. We will employ entrepreneurial governance to dismantle impediments to free trade and ease of doing business and implement radical economic policies that will drastically reduce our debt service – a major drain on government revenue today. Our Micro, Small and Medium Scale Enterprises (MSMEs) will be robustly supported. Further borrowing will be strictly for productive purposes. While we will aggressively pursue the activation of all opportunities in the oil and gas value chain, we will use targeted incentive schemes that will be professionally administered to diversify our non-oil export portfolio with proper consideration and management of climate change risks and opportunities.

The third pillar of our governance priorities is to “Restructure the polity through effective legal and institutional reforms to entrench the rule of law, aggressively fight corruption, reduce cost of governance, and establish an honest and efficient civil service”. Reducing the cost of governance in Nigeria is an effective way to fight institutional corruption. In addition to reducing cost of governance and streamlining government operations for efficiency and effectiveness, we will ensure that reforms are pursued in a way that protects the livelihood of our hardworking and efficient civil servants.

Critical to fighting corruption, we shall install a new budgeting system founded on the cardinal principles of public accountability, objective setting, and program implementation. This is against the extant budgetary principles of revenue mobilization, expenditure allocation, borrowing without emphasis on monitoring, evaluation, and feedback. We will enforce the principle of performance auditing and institutionalize monitoring and evaluation process of the entire public service delivery as the primary means of actualizing our vision of a new Nigeria. This reform will institutionalize the personal involvement of the President in setting budgetary objectives of MDAs, and monitoring and evaluating the implementation process through the Office of Regulatory Review in the Office of the President. Budget monitoring and evaluation capacity will be strengthened within the Presidency.

We will embark on effective macro-economic and fiscal restructuring to quickly restore fiscal viability by discontinuing unaffordable subsidies which have left a black-hole in government finances. Fiscal and monetary policy will be properly coordinated, with each deploying conventional tools transparently instead of distorting markets to favour a few privileged persons. For the avoidance of doubt, we will collaborate with the Central Bank of Nigeria for the transparent liberalization of the foreign exchange market and the dismantling of the opaque multiple exchange rate regime which effectively subsidizes a few privileged persons.

We will also seek to boost the supply side, rather than continuing to concentrate exclusively on demand management of the foreign exchange market. When unaffordable subsidies are removed, some carefully calibrated transfers will be used to cushion any adverse impact on the economically weak. If the competitiveness of a sector is to be enhanced, then that will be done via the enactment of transparent and specially targeted fiscal and trade policies designed to stimulate investment and growth. Revenue shortfalls and leakages such as oil theft will be dealt with decisively by holding persons in positions of authority fully accountable.

The fourth plank of our governance priorities is to “Leapfrog Nigeria into the 4th Industrial Revolution through the application of scientific and technological innovations to create a digital economy”.  Building on the gains of the agriculture-led manufacturing and export, we will pursue the development of knowledge and skills to leverage on the emerging disruptive digital technologies, automation, Internet of Things (IoT), artificial intelligence, robotics, virtual reality, block chain technology, biotechnology and data science – all of which are at the heart of the fourth industrial revolution.

The fifth plank of our governance priorities is to “Build expansive infrastructure for efficient power supply, rail, road and air transportation, and pipeline network, through integrated public-private partnerships, and entrepreneurial public sector governance”.  Our solution to the perennial power problem in Nigeria is a comprehensive one that covers transmission, distribution, generation and financing as detailed in our Manifesto.  However, we will immediately complete the $2.3b Nigeria-Siemens network improvement deal to achieve 7,000 MW stable capacity by the end of this year (2023), 11,000 megawatts by 2024, and 25,000 megawatts by 2025. We will support local manufacturing capacity of power technologies and encourage and expand local R&D in universities, training centres, and workshops through which many jobs will be created.

Our 6th priority programme is to “Enhance the human capital of Nigerian youths for productivity and global competitiveness through investment in education and research, quality healthcare, and entrepreneurship education”. The World Bank’s Human Capital Development Index ranks Nigeria 168 out of 173 countries. To move Nigeria right to the top bracket of the index, we will pursue a Marshall plan-type programme on education that incorporates compulsory technical and vocational skills, sports, entrepreneurship, programming, and digital skills from the primary to the secondary level. In line with this commitment to transform our educational sector, we will prioritize the funding of this critical sector. Our tertiary institutions will be remodelled to serve as hubs or centres for research, development, and commercialisation of ideas for the quick industrialization of Nigeria.

Finally, our 7th priority is to “Conduct an afro-centric diplomacy that protects the rights of Nigerian citizens abroad and advances the economic interests of Nigerians and Nigerian businesses in a changing world”.

CONCLUSION

In concluding, let me say that the problem with Nigeria is at once complex and simple. It rests on leadership. As our erudite Professor Chinua Achebe stated, ‘’ The trouble with Nigeria is simply and squarely a failure of leadership’’. In Achebe’s view, there is nothing basically wrong with the Nigerian character. ‘’The Nigerian problem is the unwillingness or inability of its leaders to rise to the responsibility, to the challenge of leading in the front by example which is the hallmarks of true leadership’’. When people of competence, character, commitment, and compassion take over leadership and pursue their mission and task with the seriousness required, a New Nigeria characterised by peace, unity, prosperity, inclusiveness will be achieved and sustained. That is what is driving Datti Baba-Ahmed and I to join and offer to lead this desire and crusade of Nigerians, particularly our youths, for an inclusive and sustainable Nigeria that works for all. In line with my upbringing, especially my Mother’s counsel, my promise is that Nigeria’s resources will be most prudently used and as the Commander in Chief, I Peter Obi sincerely pledge that Our Pact with Nigeria will be diligently pursued to create a new Nigeria characterised by sustainable/inclusive growth and development.


Obi, Presidential Candidate of the Labour Party, LP, delivered this speech at the Chatham House, London, on 16th January, 2023