Opinion
Turning COVID-19 tragedy into opportunity for new Nigeria | By Godwin Emefiele
Published
7 years agoon
As many people are now aware, the outbreak of the Novel Coronavirus Disease (COVID-19) in China has rapidly permeated and profoundly changed the world. While this crisis is first and foremost a public health issue, which has claimed the lives of over 123,600 people worldwide, and counting, the economic damages are unprecedented on several fronts: crude oil prices have declined dramatically to as low as US$17 per barrel by the end of March, even before applying the discounts many oil exporters are offering; stock valuations for the NSE-ASI, Nikkei, Dow Jones and FTSE-100 have declined by an average of 23.8 percent between January and March 2020; global airlines have lost about US$252 billion in revenues and across the broad range of industries from hospitality to services, the pain is growing.
These outcomes have expectedly thrown the global economy into a recession, the depth and duration of which is currently difficult to fathom. In fact, the International Monetary Fund (IMF) predicts that the global economy would decline by 3 percent this year.
Around the world, countries have moved away from multilateralism and responded by fighting for themselves with several measures to protect their own people and economies, regardless of the spillover effects on the rest of the world. According to the World Customs Organization, a total of 32 countries and territories, adopted stringent and immediate export restrictions on critical medical supplies and drugs that were specifically meant to respond to COVID-19. As of 10 April 2020, an updated count of total export restrictions by the Global Trade Alert Team at the University of St. Gallen, Switzerland suggest a total of 102 restrictions by 75 countries.
On 4 March 2020, Germany announced an export ban that applied to all sorts of medical protection gear including breathing masks, medical gloves and protective suits. Around the same time, President Macron announced that France will requisition all face masks produced in the country, a de facto export ban. Between 8 February 2020 and 6 April 2020, India released eight (8) different export notifications banning several drugs and medical supplies including hydroxychloroquine, ventilators, personal protections masks, oxygen therapy apparatus, and breathing devices. On 3 April 2020, the Trump Administration invoked the war-era US Defense Production Act to stop major US mask manufacturer, 3M, from export of respirator masks, N95, to Canada and Latin America.
Fears of a long global recession have also led to worries about unprecedented global food insecurity, with concerns that agricultural production may be dislocated by containment measures that constrain workers from planting, managing and harvesting critical crops. Rather than seek cooperative and global solutions, several countries have resorted to export restrictions of critical agricultural produce.
According to the International Food Policy Research Institute (IFPRI), about 37 countries have enacted various forms of food export restrictions in response to COVID-19, even in countries where average production exceeds domestic consumption.
For example, Viet Nam, the world’s third largest exporter of rice, suspended granting rice export certificates until the country “reviews domestic inventories”. Russia, the world’s largest wheat exporter, announced a ten-day ban on the export of buckwheat and rice due to concerns over panic buying in local supermarkets.
What if these restrictions become the new normal? What if the COVID-19 pandemic continues in a second wave or another pandemic occurs in which all borders are shut, and food imports are significantly restricted? What if we cannot seek medical care outside Nigeria and must rely on local hospitals and medical professionals? For how long shall we continue to rely on the world for anything and everything at every time?
Although these developments are troubling, they present a clear opportunity to re-echo a persistent message the CBN has been sending for a long time, and at this time even more urgently so: we must look inwards as a nation and guarantee food security, high quality and affordable healthcare, and cutting-edge education for our people.
For a country of over 200 million people, and projected to be about 450 million in a few decades, we can no longer ignore repeated warnings about the dangers that lie ahead if we do not begin to depend largely on what we produce locally, because the security and well-being of our nation is contingent on building a well-diversified and inclusive productive economy.
When I became Governor of the Central Bank in June 2014, imports of rice, fish, wheat and sugar alone consumed about N1.3 trillion worth of foreign exchange from the Bank. The immediate question that came to my mind was: can we not grow these ourselves? After all, only a few decades ago, Nigeria was one of the world’s largest producers and exporters of palm oil, cocoa and groundnuts.
Today, we import nearly 600,000 metric tonnes of palm oil, whilst Indonesia and Malaysia, two countries that were far behind us in this crop, now combine to export over 90 percent of global demand. In 2017, Indonesia earned US$12.6 billion from its oil and gas sector but US$18.4 billion in from palm oil. I believe that this pandemic and the immediate response of many of our trading partners suggest it is now more critical than ever that we take back control, not just control over our economy, but also of our destiny and our future.
In line with the vision of President Muhammadu Buhari, the CBN has indeed created several lending programmes and provided hundreds of billions to smallholder farmers and industrial processors in several key agricultural produce.
These policies are aimed at positioning Nigeria to become a self-sufficient food producer, creating millions of jobs, supplying key markets across the country and dampening the effects of exchange rate movements on local prices.
This philosophy has been a consistent theme of the CBN’s policies over the last couple of years. At the 2016 Annual Bankers’ Dinner, I challenged the bankers that we needed to take decisive actions to fundamentally transform the structure of our economy. Throughout that speech, I talked about the damaging effects of Nigeria’s unsustainable propensity to import, and opined that it was high time we looked inwards and stopped using hard-earned foreign exchange (FX) to import items that we could produce locally.
This determination, therefore, formed the bedrock of the Bank’s policy, which restricts access to FX for importers of many items. These sentiments were re-echoed at the 2017 edition of the same Bankers’ Dinner, with specific examples of several companies that have benefited significantly from this policy of self-sufficiency. With President Buhari’s full support, we have continued to refine this policy to ensure that the best interest of Nigeria is served.
Many times, the Bank has been accused of promoting protectionist policies. My answer has always been that leaders are first and foremost accountable to their own citizens. And if the vagaries of international trade threaten their wellbeing, leaders have to react by compelling some change in patterns of trade to the greater good of their citizens.
That is why in response to COVID-19, we are strengthening the Nigerian economy by providing a combined stimulus package of about N3.5 trillion in targeted measures to households, businesses, manufacturers and healthcare providers. These measures are deliberately designed to both support the Federal Government’s immediate fight against COVID-19, but also to build a more resilient, more self-reliant Nigerian economy.
We do not know what the world will look like after this pandemic. Countries may continue to look inwards and globalization as we know it today may be dead for a generation.
Therefore, as a nation, we cannot afford to continue relying on the world for our food, education and healthcare. The time has come to fully transform Nigeria into a modern, sophisticated and inclusive economy that is self-sufficient, rewards the hardworking, but protects the poor and vulnerable, and can compete internationally across a range of strategic sectors.
In order to achieve this goal, we must begin immediately to support the Federal Government to:
1) Build a base of high quality infrastructure, including reliable power, that can engender industrial activity;
2) Support both smallholder and large scale agriculture production in select staple and cash crops;
3) Create an ecosystem of factories, storages, and logistics companies that move raw materials to factories and finished goods to markets;
4) Use our fiscal priorities to create a robust educational system that enables critical thinking and creativity, which would better prepare our children for the world of tomorrow;
5) Develop a healthcare system that is trusted to keep all Nigerians healthy, irrespective of social class;
6) Facilitate access to cheap and long-term credit for SMEs and large corporates;
7) Develop and strengthen pro-poor policies that bring financial services and security to the poor and the vulnerable; and
8) Expedite the development of venture capitalists for nurturing new ideas and engendering Nigerian businesses to compete globally.
India is in a position to ban exports because it is producing critical drugs and medical supplies that the rest of the world needs. It also has companies that are global champions, and even making mergers and acquisitions in advanced nations. Why should this be out of our reach? We have the companies too; we have the manpower and some of the best brains in the world from the Americas to Europe and from Asia to Africa are Nigerians; driving global innovations in all fields. Nigerians are successful everywhere, and are already one of the most sought after immigrant groups in the United States.
But now is the time to seize this opportunity and create an environment that empowers our people to thrive within our own shores.
To this end, the Central Bank has developed a Policy Response Timeline to guide our crises management and the orderly reboot of the Nigerian economy.
Immediate-Term Policies (0-3 Months):
In light of the fact that this crisis is an exogenous one thrust upon us without much warning, this phase reflects the government’s efforts at containment and mitigation. Although global cases are heading towards two million with over 123, 600 deaths as of 14 April 2020, we now have 343 cases, of which 10 deaths and 91 recoveries have been recorded. With President Buhari’s continuing strong leadership, Nigeria can now test 1500 persons per day in twelve (12) Molecular Test Laboratories. We believe that this strong leadership in travel restrictions, lockdown, social distancing, and other measures have been greatly effective to curbing the spread of the disease. More so, the Presidential Task Force and Nigeria Centre for Disease Control (NCDC) have helped the country stay ahead of the curve with increased testing capacity, provision of better-equipped isolation centres, and effective contact tracing. Within this milieu, the CBN has responded in several ways, first by supporting hospitals and pharmaceutical industry with low interest loans to immediately deal with the public health crises; then by working with the private sector Coalition Against COVID (CACOVID) to support the Presidential Task Force across its response, while mobilizing palliatives for the poor and vulnerable. Under this Immediate-Term Response, we have activated the following: 1) Ensuring financial system stability by granting regulatory forbearance to banks to restructure terms of facilities in affected sectors; 2) Triggering banks and other financial institutions to roll-out business continuity processes to ensure that banking services are delivered in a safe social-distance regime for all customers and bankers; 3) Granting additional moratorium of 1 year on CBN intervention facilities; 4) Reducing interest rates on intervention facilities from 9 percent to 5 percent; 5) Creation of N50 billion targeted credit facility for affected households & SMEs; 6) Strengthening the Loan-Deposit Ratio (LDR) policy, which is encouraging significant extra lending from banks; 7) Improving FX supply to the CBN by directing all oil companies (international and domestic) and all related companies (oil service) to sell FX to CBN and no longer to the NNPC; 8) Providing additional N100b intervention in healthcare loans to pharmaceutical companies, healthcare practitioners intending to expand/build capacity; 9) providing N1 trillion in loans to boost local manufacturing and production across critical sectors; and 10) Engendering financial inclusion by ensuring the poor and vulnerable are able, by all means necessary, through banks, microfinance, community and non-bank financial institutions, to access financial services to meet their basic needs.
Short-Term Policy Priorities (0 – 12 months):
As soon as President Muhammadu Buhari and the Health authorities determine our Coronavirus Transmission Curve is flattening and many of the ongoing restrictions are eased, this will be the phase for repositioning the Nigerian economic space. As part of the lessons from the current pandemic, we must ensure that that our value-added sector, the manufacturing industry is strengthened. Accordingly, the CBN will pursue the following policies in this phase: 1) Reinvigorate our financial support for the manufacturing sector by expanding the intervention all through its value-chain. In most cases, we will ensure that primary products sourced locally provide essential raw material for the manufacturing sector except where they are only available overseas; 2) With the support of the Federal Government, the CBN will embark on a project to get banks and private equity firms to finance homegrown and sustainable healthcare services that will help to reverse medical tourism out of Nigeria. By offering long-term financing for the entire healthcare value-chain (including medicine, pharmaceuticals, and critical care), banks will work with healthcare providers to consolidate on the current efforts to rebuild our medical facilities in order to ensure Nigeria has world class affordable hospitals for the people of Nigeria and those wishing to visit Nigeria for treatment; 3) The CBN will promote the establishment of InfraCo PLC, a world class infrastructure development vehicle, wholly focused on Nigeria, with combined debt and equity take-off capital of N15 trillion, and managed by an independent infrastructure fund manager. This fund will be utilized to support the Federal Government in building the transport infrastructure required to move agriculture products to processors, raw materials to factories, and finished goods to markets, as envisaged at the CBN Going for Growth Roundtable in March 2020; and 4) Continue to prioritize the provision of FX for the importation of machinery and critical raw materials needed to drive a self-sufficient Nigerian economy.
Medium-Term Policy Priorities (0 -3 Years):
Once the world returns to some new normal having tamed COVID-19 by a combination of vaccines and social distancing, and the Nigerian economy reopens fully for business, we will act quickly to enable faster recovery of the economy by targeted measures towards particular sectors that are able to support mass employment and wealth creation in the country. We will do so by focusing on four main areas, namely, light manufacturing, affordable housing, renewable energy, and cutting-edge research.
In manufacturing, for example, it is pertinent to note that Nigeria’s gross fixed capital formation is currently estimated at N24.55 trillion made up residential and non-residential properties, machinery and equipment, transport equipment, land improvement, research and development, and breeding stocks. Of this estimated value, machinery and equipment, which are the main inputs into economic production, are currently valued at only N2.61 trillion. In order to pursue a substantial economic renewal, including replacement of at least 25 percent of the existing machinery and equipment for enhanced local production, we estimate at least N662 billion worth of investments to acquire hi-tech machinery and equipment. Therefore, the CBN will consider an initial intervention of N500 billion over the medium term, specifically targeted at manufacturing firms to procure state-of-the-art machinery and equipment and automated manufacturing models that would fast-track local production and economic rejuvenation, as well as support increased patronage of locally processed products such as cement, steel, iron rods, and doors, amongst several other products. The recent private sector investments in cement production using enhanced technology and automated manufacturing models is a good example of the kind of economic renewal we will be pursuing in this phase. We will develop a thorough screening process and stringent criteria for equipment types that would qualify for funding under this phase.
In order to boost job creation, household incomes and economic growth, we will be focusing our attention to bridging the housing deficit in the country, by facilitating government intervention in three critical areas: housing development, mortgage finance, and institutional capacity.
We will pursue the creation of a fund that will target housing construction for developers that provide evidence of profiled off-takers with financial capacity to repay. The current identification framework in the banking sector using the bank verification number (BVN) will be used to verify the information provided by the off-takers before the developer can access the funds. We will also be considering ways to assist the Mortgage Finance Sub-sector as well as build capacity at the State levels for their land administration agencies to process and issue land titles promptly, implement investment friendly foreclosure laws and reduce the cost of land documentation, as this has remained a major inhibiting factor in the provision of affordable housing in the country.
Over the next 3 years, we will also support the financing of environmentally friendly energy production, as this has a tangential long-term health benefits. We will look at efforts to drive innovation and research in every sector, through our universities, research institutions, creative industry initiatives, and all other media of novelty and inventions.
In conclusion, I believe we must now envision and work toward a Nigeria with the cutting edge medical facilities to provide world class care to the sick and vulnerable; enable our universities and research institutions to provide the requisite education and training that is required to keep these ecosystems functioning sustainably and efficiently; and millions of Nigerians employed in meaningful and well-paying jobs. This is the Nigeria that we must aspire to build.
COVID-19 may have plunged us into a crisis of unprecedented proportions. But, as Winston Churchill once admonished, we must never let a crisis go to waste.
Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN)
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Opinion
Doctors’ Strike and the Price of Human Life | By Olusegun Hassan
Published
2 days agoon
October 23, 2026The popular Yoruba saying, “Ẹni kan l’ọmọ,” meaning that only the person wearing the shoes knows where they pinch, recently took on a deeper meaning for me. Just last week, I experienced its true significance beyond its familiar place as an aphorism.
Popular sayings often remain mere expressions in our consciousness until we find ourselves at the receiving end of the experiences they describe. Similarly, systemic flaws and structural deficiencies in society may seem distant until we become victims of them. News of kidnapping is just another newspaper report until a loved one is abducted and the family is thrown into a desperate search for money to pay a ransom. In the same vein, the news that “doctors are on strike” may appear to be just another headline until someone close to us dies because urgent medical attention was unavailable as a result of the strike.
Nigeria’s story is replete with such unfortunate experiences, which have given rise to another familiar expression: “May Nigeria not happen to you.”
While the media landscape was still reeling from reports of the death of popular gospel singer Toluwanisings, who reportedly died on October 14, 2026, following an alleged lack of urgent medical attention during a doctors’ strike, I also lost a close relative two days later, on October 16, under circumstances involving the same lack of timely medical care.
She was an asthma patient who suffered an attack in the middle of the night. After receiving first aid, she was rushed to the nearest hospital, a teaching hospital, only to be turned away because doctors were on strike and none was available to attend to her. By the time the family reached the nearest private hospital, she had died. Her death left the entire family, myself included, traumatised.
These are only two cases among many similar tragedies that have occurred over the years. They raise a painful question: how many of these deaths could have been prevented if essential medical services had remained accessible?
I cannot help but wonder: what is the value of human life in this country? At what point did the sanctity of human life become secondary to demands for improved welfare by medical unions?
This is not to suggest that the grievances of doctors are illegitimate. Far from it. Medical professionals deserve fair remuneration, adequate facilities, safe working conditions and an environment that enables them to perform their duties effectively. The question, however, is whether the pursuit of these legitimate demands should come at such a devastating cost to human life, particularly when the fundamental purpose of the medical profession is to preserve life through the provision of appropriate healthcare.
It is a troubling paradox.
Doctors undoubtedly have the right to demand fair treatment and safe working conditions. However, that right must be exercised in a manner that protects patients from abandonment and avoidable harm. When patients die because essential medical services have been withdrawn without adequate safeguards, the ethical justification for the action becomes a serious matter for scrutiny.
The World Medical Association (WMA), an international body that promotes widely recognised ethical standards for physicians, upholds principles that include respect for human life and the dignity of patients. These principles underscore the responsibility of doctors to protect the health and well-being of those under their care, provide competent and timely treatment, prevent avoidable harm and act in their patients’ best interests.
These are not merely ideals about compassion. They are professional obligations that must continue to guide medical decisions, including during industrial disputes.
In Nigeria, the Medical and Dental Council of Nigeria (MDCN) addressed this issue in January 2024, reportedly directing the heads of teaching hospitals, federal medical centres and specialised hospitals to ensure that industrial action did not result in the abandonment or premature discharge of patients.
Among the safeguards outlined were the following:
- Accident and emergency departments must remain open and adequately staffed.
- Emergency paediatric services, labour wards, neonatal units and intensive care units must continue to provide emergency and critical care.
- Patients already admitted to hospital must not be discharged merely because a strike has commenced.
- Patients with scheduled appointments before the strike must be attended to in accordance with the applicable directives.
These safeguards reinforce an important principle: the right to pursue employment-related demands does not extinguish a doctor’s professional obligation to protect patients from preventable harm.
Where emergency patients are turned away, critically ill patients are abandoned, or essential services are shut down without adequate arrangements for emergency care, the circumstances warrant investigation. Where evidence establishes a breach of professional obligations or applicable regulations, appropriate disciplinary or legal action should follow.
Similarly, when a patient dies after being denied emergency treatment during an industrial action, the circumstances surrounding the death deserve a thorough and impartial investigation. Where negligence, professional misconduct or a breach of applicable directives is established, appropriate sanctions should be imposed in accordance with the law and relevant professional regulations.
The point is simple: no legitimate grievance should justify abandoning a patient whose life is in immediate danger.
At this juncture, it is equally important to acknowledge the government’s share of the blame. While this article emphasises the ethical obligation of doctors to preserve human life, the government must also recognise that poor remuneration, unpaid allowances, inadequate medical facilities, excessive workloads and unsafe working conditions undermine doctors’ morale and their ability to provide quality healthcare.
The consequences are increasingly evident in Nigeria’s continuing loss of medical professionals to other countries.
In 2025, the Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, reportedly disclosed that more than 16,000 Nigerian doctors had emigrated over the preceding five to seven years, largely in search of better opportunities abroad. Furthermore, a 2025 report on Nigeria’s health statistics reportedly indicated that 4,193 doctors and dentists left the country in 2024 alone.
These departures deepen staffing shortages, increase the pressure on the doctors who remain and expose patients to longer waiting times and potentially avoidable deaths.
The government must therefore move beyond repeated negotiations and implement sustainable reforms. These should include the prompt payment of salaries and allowances, improved working conditions, adequate funding for public hospitals, transparent career progression and the effective implementation of agreements reached with medical unions.
The Federal Ministry of Health and relevant hospital authorities must also strengthen monitoring and oversight during industrial disputes to ensure that emergency and critical care services remain available in public hospitals. Patients in life-threatening conditions must not be turned away simply because doctors are on strike.
Ultimately, responsibility for Nigeria’s healthcare crisis cannot be placed entirely on one side. Doctors must uphold their professional and ethical obligations, while the government must fulfil its responsibility to create conditions in which those obligations can be discharged effectively.
Medicine is not an ordinary occupation. It carries a profound moral responsibility because, in certain circumstances, the timely intervention of a medical professional can make the difference between life and death. No employment grievance should be used to justify abandoning a patient whose life is in immediate danger.
The sanctity of human life demands responsibility from the doctors entrusted with treating patients and from the government authorities responsible for ensuring that appropriate treatment remains available.
A functional healthcare system depends on cooperation between these two critical stakeholders. When they fail to find common ground, it is the ordinary citizen who suffers the consequences. As the familiar saying goes, when two elephants fight, the grass suffers.
And trust me, I know what that suffering feels like. I have just experienced it.
Olusegun Hassan, Ph.D.
Public Policy Analyst and Social Commentator
Opinion
Oyo, Osun Petrol Price War: Why Fair Competition Should Matter
Published
3 days agoon
October 22, 2026By
Mega IconThe decision by some filling stations in Oyo and Osun states to sell petrol at lower prices than their competitors has brought renewed attention to pricing practices in Nigeria’s downstream petroleum sector and, more importantly, to what consumers stand to gain when competition is allowed to work.
Investigations and enquiries into petrol prices in the two states revealed differences in pump prices, with some independent petroleum marketers (IPM) selling Premium Motor Spirit (PMS), popularly known as petrol, for about ₦1,375 per litre, while some competing stations charged about ₦1,385 per litre.
Although the difference is just ₦10 per litre, the savings are meaningful for motorists, commercial transport operators, artisans, traders and other residents who depend on petrol to earn a living.
For a commercial driver buying 40 litres, for instance, the price difference amounts to ₦400. For small businesses that rely on petrol-powered generators, repeated purchases at lower prices could provide some relief amid the rising cost of living. Across thousands of consumers and multiple purchases, modest savings can become a substantial reduction in household and business expenses.
However, findings from the enquiries suggest that some independent marketers who had previously sold petrol at relatively lower prices later adjusted their pump prices to match those of competing stations.
The development has prompted questions about what influences pricing decisions in the two states and whether consumers are being allowed to benefit fully from competition among petroleum marketers.
Information obtained during engagements with some marketers, who spoke on condition of anonymity, also indicated that the leadership of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in the two states had expressed displeasure over the decision by some members to sell petrol below the prices charged by other filling stations.
The circumstances surrounding the reported position of the association’s leadership, however, require clarification from the relevant IPMAN officials. Their response is necessary to establish the facts, understand the basis of the reported concerns and give the association an opportunity to state its position.
THE CASE FOR FAIR COMPETITION
At the heart of the matter is a question that directly affects consumers: should a petroleum marketer who can legitimately sell petrol at a lower price be discouraged from doing so simply because competitors are charging more?
The answer should be guided by evidence, legality and consumer welfare. In a competitive market, businesses generally make pricing decisions based on their operating costs, supply arrangements, margins and commercial objectives. Where a marketer can sustainably offer a lower price while meeting all applicable regulatory, product-quality and safety requirements, consumers should be able to consider that option.
Fair competition is not merely a benefit to individual buyers. It creates pressure on businesses to control costs, improve efficiency and offer better value. A lower price from one marketer can encourage others to review their own costs and pricing decisions, potentially producing wider benefits for customers.
This does not mean that every low-priced offer is automatically sustainable or that marketers should ignore the economic realities of running their businesses. Differences in supply costs, transportation, location and other expenses may legitimately result in different pump prices.
The issue, therefore, is not whether every filling station should sell petrol at the same price. It is whether businesses can compete fairly, transparently and within the law, without undue pressure to abandon commercially viable prices that benefit consumers.
Any intervention that prevents legitimate price competition should be supported by clear evidence and a lawful, consumer-focused justification. Otherwise, the likely result is a narrower range of choices and less pressure on sellers to offer better prices.
THE BURDEN ON ORDINARY RESIDENTS
For many households and small businesses, petrol prices go beyond what appears on a filling station’s price board. Higher fuel costs can increase transportation fares, the cost of moving goods and the expense of running generators and other equipment.
Traders may have to spend more transporting their goods to markets, while commercial drivers face pressure from rising operating costs. Such expenses can eventually be passed on to consumers through higher prices for goods and services.
Against this background, any legitimate opportunity to reduce fuel expenses deserves serious attention.
Allowing genuine competition among petroleum marketers could offer some relief, particularly where consumers have access to reliable information about prices and can choose where to buy their fuel. The ability to compare prices is itself an important part of a functioning market.
At the same time, price differences should be examined in context. A lower pump price alone does not establish wrongdoing by competing stations, just as a higher price does not automatically amount to exploitation. Reliable evidence about supply costs, market conditions and the conduct of the parties concerned is needed to reach a fair conclusion.
The central point remains clear: where lower prices are lawful, sustainable and supported by quality and safety compliance, consumers should not be deprived of the benefit merely because uniformity is more convenient for sellers.
STAKEHOLDERS MUST CLARIFY THE ISSUES
The reported concerns over lower pump prices in Oyo and Osun call for open engagement among IPMAN leadership, independent marketers and other relevant stakeholders.
IPMAN officials in both states should be given the opportunity to explain whether any concerns were raised about members selling petrol below prevailing local prices and, if so, the reasons behind those concerns.
Independent marketers, on their part, should be prepared to explain how they arrive at their pump prices and demonstrate that their pricing practices are commercially sustainable and comply with relevant requirements.
The relevant regulatory authorities also have a role to play in ensuring that petroleum products meet quality and safety standards and that market participants operate within the applicable legal framework. They should also remain alert to any conduct that unlawfully restricts competition or misleads consumers.
No stakeholder should be condemned solely on the basis of an unverified allegation. Equally, concerns that could affect consumers’ access to competitively priced fuel should not be dismissed without proper examination.
A balanced approach requires both scrutiny and restraint: lower prices should be tested against evidence, while attempts to suppress legitimate competition should also face appropriate questions.
CONSUMERS SHOULD NOT BE LEFT OUT
Ultimately, the debate over petrol prices in Oyo and Osun should not become a contest between filling station owners. The interests of consumers must remain central.
Petroleum marketers need a business environment in which they can operate sustainably, recover legitimate costs and earn reasonable returns. Consumers, however, also deserve a marketplace where they can make informed choices and benefit from genuine competition.
If a filling station can lawfully and sustainably sell quality petrol at a lower price, that decision should be assessed on its merits rather than opposed simply because neighbouring stations charge more. Competition should not be treated as a problem merely because it exposes differences in pricing.
The way forward lies in transparency, fair competition and constructive engagement among stakeholders.
For residents struggling with the cost of transportation, food and other necessities, even modest savings matter. Ensuring that legitimate competition is allowed to work could help ease some of that pressure, while proper oversight can protect consumers from unsafe products and unsustainable practices.
The relevant question is whether all parties are prepared to put a fair and transparent marketplace ahead of unnecessary disputes over pricing. Consumers should not be asked to pay more simply to preserve uniformity where lawful competition can deliver better value.
Opinion
Governor Seyi Makinde’s Media Chat: A Hundred And Twenty Minutes Of Trash Talk | By Sola Abegunde
Published
2 weeks agoon
October 13, 2026By
Mega IconI knew that Governor Makinde would provide us with a hundred and twenty minutes of comic relief and at the same time, I knew he is bound to commit unforced errors which would further expose his shenanigans.
The outgoing Governor of Oyo state did not disappoint on both fronts.
Personally, I understand the need for him to have one final valedictory Media Chat.
The atmosphere might be too hot for him to even think of such luxury after the general election in 2027. So, if he’s got the opportunity now, why not take a shot at it?
I must however say that the Governor displayed his insensitivity right from the choice of the Studio the Chat was aired.
Shortly before the Media Chat commenced, I came across a release signed by the Chairman of the Nigeria Union of Journalist, NUJ, BCOS Chapel, Com. Ademola Balogun.
Com. Balogun was full of lamentations concerning the very terrible state of the Oyo state Broadcasting Corporations, BCOS.
He was of the very strong opinion that the BCOS should have meaningful opportunities to cover Government activities.
He also called on Governor Seyi Makinde to empower the BCOS to invest in modern studio, transmitting equipment, digital broadcasting facilities and online platforms.
Com. Ademola spoke extensively about Staff welfare and other issues.
Sadly, while Governor Seyi Makinde has been consistent in empowering a particular Radio station, the Broadcasting Corporations of Oyo state, BCOS has been dying slowly.
Unfortunately, I have no good news for Com. Ademola. His lamentations will definitely fall on stone deaf ears. It is too late for Governor Makinde to change his ways. I just pray that the Governor would not wake up one day and sold off whatever remains of the Corporation.
That is just by the way. Let me address Governor Makinde’s Media Chat for whatever it is worth. The Governor spent a whole two hours venting anger and spreading outright lies and half-truths.
I am surprised that Governor Makinde has not seen any reason for him to have a second thought about his awkward and reckless comments about the Law Profession.
I am saying this because, for the second time, his Deputy was sitting closely beside him and yet, he felt like it was humorous for him to take a dig at Senator Sarafadeen Abiodun Alli, the All Progressives Congress, APC Gubernatorial candidate, regarding his misconceived failure as a Law practitioner.
He repeated the ignorant and reckless comments about Senator Alli, not being a Senior Advocate of Nigeria and for that reason, according to Governor Seyi Makinde, the Oyo South Senator is not an accomplished Legal Practitioner.
He had made that same reckless comments a couple of weeks ago and at that time also, the Deputy Governor was beside him!
The respectable man is an accomplished Lawyer of many years of experience, who had trained a lot of successful Lawyers.
I also wonder, how people like Dr. Nureni Adeniran and Olasunkanmi Olaleye, who are also Lawyers and have been working with Governor Seyi Makinde over the years would feel about those reckless comments coming from their Boss.
If you want to follow Governor Seyi Makinde’s reasoning, if you are a teacher and you did not rise to the status of a School Principal or Head teacher, then, you’re a failure.
If you are a Military Personnel and you didn’t rise to the position of a General, you’re a failure!
Any time I saw the Governor arguing in this regard, I always asked myself if he was actually himself, because, for me, only a drunkard is capable of reasoning in that manner, or, perhaps, some young elements who had taken so much banned substances.
I have carefully analyzed the 120 minutes Media Chat and I saw that Governor Seyi Makinde spent so much time treating two issues.
The first, being his frustration about his perceived betrayal by president Bola Ahmed Tinubu and the second being his failed attempt to rewrite the Constitution of Nigeria regarding the financial autonomy for Local Governments.
The birthday boy tried to work him through the crisis at the Circular Road, but it was obvious that the main reasons behind Governor Makinde’s Media Chat were grounded on his firm beliefs that Tinubu breached certain agreements with him and others in 2023 and his warped opinion about how the Local Governments should operate within our Federation.
Let’s start with Governor Seyi Makinde’s allegations against Tinubu.
According to him, in 2023, an agreement was signed between certain individuals, including himself.
He said there was an agreement that a Government of National Unity would be formed by president Tinubu after he won the presidential election of 2023 and that he and the Governor of Lagos state, Babajide Sanwo-Olu were signatories to that agreement.
According to him, president Tinubu was not a signatory to the agreement but he was informed after the agreement was signed!
He went further to say that on the strength of that agreement, he presented Bimbo Adekambi as a Ministerial nominee because the president had earlier told him that he wanted to appoint the Minister for Budget and Planing from Oyo state.
To his chagrin and disappointment, president Tinubu settled for Bayo Adelabu and asked him to own the nomination of the former Minister for power, a request he claimed he rejected.
He therefore concluded that all the Ministers nominated from the South West are from Bourdilon.
I have carefully analyzed this confession by Governor Seyi Makinde and I have a few questions for him.
Why is it that Governor Seyi Makinde is the only one complaining about a breached agreement?
Why did it take him all these long to come out with this fact?
What was the criteria for the nomination of Bimbo Adekambi? Did he just take a random decision to choose Adekambi without a prior relationship between the two of them or what?
How does Governor Seyi Makinde want to convince any right thinking person that he believed an agreement would be binding on Tinubu on the strength of Governor Sanwo-Olu’s alleged signature?
For me, that doesn’t make any sense, most especially, for an ” accomplished Engr” like Seyi Makinde!
I am surprised that Governor Makinde leaves out what he benefited from the alignment with Tinubu in 2023.
Remove the alignment with Tinubu in 2023, Seyi Makinde was a goner and the fact that he was able to secure a second term in office ought to have been enough for him.
I am also surprised that Governor Makinde didn’t understand that he was advertising his penchant for serial betrayal and greed when he was relating the events that shaped his re-election in 2023.
It was all about him and the decisions he took, not only affected the Peoples Democratic Party, PDP alone, it also affected certain candidates of his party during the first ballot in 2023.
Now, to the issue of Local Government Autonomy.
Governor Seyi Makinde is a very funny individual. He was very clear about his position on Local Government Autonomy in 2023.
His position was that he never even believed in their existence and I was amused when the birthday boy was saying that despite his position on Local Government Autonomy in 2023, he was still able to win in 31 Local Governments, signifying the fact that the people of Oyo state believed Governor Makinde’s explanations.
I am extremely happy that Governor Seyi Makinde has not changed his opinion on how Local Governments should operate within the Federating units.
He is still stuck on the fact that the 33 Local Governments in Oyo state should be appendages to the State Government, even, in spite of the Judgment of the Supreme Court granting them full financial autonomy.
I am shocked that Governor Seyi Makinde could attempt to confuse what happened between the Lagos state Government when Tinubu was Governor of the state and the Federal Government during Obasanjo’s period, with the illegalities he has been perpetuating with the resources 33 Local Governments.
There is a clear distinction between both scenarios.
In the case of Tinubu as Governor of Lagos state, the Lagos state Government created more Local Governments and the Federal Government was of the opinion that the state Government was wrong to have done so.
As a result of this misunderstanding, the Federal Government stopped the monthly allocations for the Local Governments in Lagos state and it led to a Judicial dispute.
In the end, the Supreme Court held that the Local Governments created by the Lagos state Government were incohate, but it faulted the Federal Government for withholding the monthly allocations belonging to the Local Governments in Lagos state.
Lagos state Government thereafter recognized and administered the newly created Local Governments as Local Government Development Areas and many states have since copied the template, including Oyo state.
In the present scenario, the president, through the Attorney general of the Federation approached the Supreme Court and sought to secure full financial autonomy for the 774 Local Governments and the Supreme Court agreed to the request.
I have been asking myself, why is it that Governor Seyi Makinde is having problems with that judgement?
The monthly allocations released to the 33 Local Governments are released against their names.
Is Governor Seyi Makinde saying that it is proper for a Governor to still be the supervisor for the 33 Local Governments?
How does the judgment of the Supreme Court translate to the Federal Government trying to take control of the 774 Local Governments?
Yorubas will always say that a dog can not stand watch over two different buildings. ( Aja kii roro, ko so ojule meji po).
I was also surprised to hear Governor Seyi Makinde talking about the fact that, instead of full financial autonomy for the Local Governments, he preferred to discuss about how the Local Governments could be empowered to survive without monthly allocations from Abuja.
Haba! Governor Makinde!! Gently now.
You are depriving the Local Governments of their entitlements and you except them to thrive. How would that happen?
Why didn’t we start with the state? Can Oyo state survive without monthly allocations?
I think everyone can now see that Bimbo Adekambi as Governor, would never allow the Local Governments to breathe.
On the other hand, Senator Sarafadeen Abiodun Alli has promised to guarantee full financial autonomy for the 33 Local Governments and the implementation of the policy requires no rocket science. All it requires is the will.
There is an existing judgment of the Supreme Court which has outlined the steps to be taken by any willing state Government.
Sarafa Alli only needs to direct relevant stakeholders at the Local Governments to comply with the judgment and that is the end of the matter.
What is so difficult in that, if you are not covetous?
I might have to do this piece in series but I will like to warn the residents of the Circular Road.
You heard Governor Seyi Makinde. He is promising you nothing.
My only problem with him is his attempts to shift the blame of the chaos he orchestrated at the Circular Road on the late Governor Abiola Ajimobi.
He even said that that the Government of Ajimobi defrauded residents of the Circular Road!
Sometimes, people like Governor Seyi Makinde needs no one to enchant them. Their character is an enchantment on itself.
If you’re saying that the Governments of the late Ajimobi defrauded residents of the Circular Road, is Bimbo Adekambi not an integral part of that Government and that is before you begin to ask the Governor for proofs.
I enjoyed Governor Seyi Makinde’s valedictory Media Chat, while looking forward to the new era awaiting him next year.
My father used to tell us that the mouth of the liar does not ooze blood. ( Enu opuro kii seje).
By the way, I saw that Governor Seyi Makinde never mentioned anything about the report of the Judicial Commission of Inquiry into the abduction of Teachers and Pupils of Yawota and Esinele communities of Oriire Local Government.
How far now?
Sola Abegunde.
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