National Issues
Rice Revolution And Rising Revolution In Nigeria | By Ajibola Esuola
Rice is surely one of the staple foods in Nigeria and Africa. Children and kids are particularly covenanted to eating rice as a daily food; it takes you being defined as an irresponsible parent not to have rice for your family. Across Nigeria, from time immemorial, rice has formed huge portion of the consumption patter and budget of this massive country. Africa’s largest economy so blessed with expansive border less population with stream of people. Consequently and annually, millions of dollars are shipped offshore out of Nigeria in exchange of bags of rice shipped, trollied and ferried back to Nigeria. Few merchants, registered and unregistered, known and coded had benefitted selfishly from both legal and illegal importation of rice in and out of Nigeria. Inside this cartel, arguably, had been the custom officials and other members of Nigeria’s security and paramilitary agencies.
The twisted giant of Africa was bleeding, while pockets of a few were bursting with dollars and nairas. Hardworking local rice growers did not have their own locals willing to consume their own products from their own soils. Their toils were soiled, a seeming cruse became a curse. Spelled by unknown curses, black people with rice from their own backyards prefer to enrich other nationals from contemporary less developed countries and continents of the world. It is pestilential and pitiable when a giant relies on dwarfs to feed.
Then, a revolutionary policy came up. Nigeria would close its borders to prevent importation of rice from other countries, among other aims. To the worst critic of this government decision, in a time like this, the decision albeit even temporary is yet revolutionary and out-of- the box from colonial dependency and undue attachment to foreign dogmatic taste for even the most basic needs. The beauties and attractions in banning imported rice cannot be ignored. Encouragement being given to local producers of rice cannot be quantified. The step will give these neglected farmers more impetus to produce the commodity, backed by ready buyers. Unemployment will be mopped up. Many hitherto unemployed and underemployed persons will embrace rice farming realizing the new prosperities and potentials embedded in Nigeria’s revolutionized rice project.
Savings of foreign currencies being used to import this product will go into conservations and savings. Huge amounts are already being saved in millions of dollars from partial closure of borders against rice smuggling. As at last count, close to 200 rice mills of various sizes had sprung up in many parts of Nigeria. The consciousness among nation – states that each must produce what her citizens eat is gradually dawning of Nigeria and Nigerians. Spiral and massive engagement of human resources and ideals will come into play through the establishment of these rice mills. For many states, the revolution on the task of increasing their Internally Generated Revenue (IGR) is right on course. Money missing roads into the pockets of politicians are being channeled towards productive activities in rice plantation, harvesting and sales. Interestingly, since the closure of Nigeria boarders against rice importation, kidnapping, banditry, terrorism and other forms of criminal activities had reduced along the axis of Nigeria’s borders. The Governor of Nigeria’s Central Bank (CBN), Godwin Emefiele had correctly predicted the reduction of these criminal activities if the borders are closed, and these predictions are coming to pass.
It is not only about the rice revolution, but the clear pointers to a rising revolution in Nigeria. The socio – political atmosphere is scheduled to pick up revolutionary trends, if the Buhari administration can step up on any success being achieved in the rice revolution. Some emerging reforms on – going as regards corruption, judiciary, politics and in many areas cannot be swept under the carpet. Except the Buhari cabals are not keen to enshrine their names in the annals of good leadership, the best option for them is to ensure a sustained and better leadership, which will not draw the nation backwards. Going forward, the need is for good leadership which will close more borders; borders of underdevelopment, borders of nepotism, borders of inadequate infrastructural development, borders of hate, borders of insecurity, kidnapping and terrorism. Politics are not as being played in the 60s and 70s in Nigeria. The stakes are higher now, participants are more educated, enlightened and sophisticated, germane issues are now being raised, even if not totally addressed.
In the political rising revolution, more questions will be asked. For example, in Nigeria during the closing months in year 2019, both the EFCC and ICPC (anti – corruption agencies) are to participate in electoral fraud monitoring henceforth. This is to close border of vote buying. Or why should there be vote buying? Rising Revolution is not the Sowore model. Such are laden with errors and not strengthened by crafted strategies and deep reasonings. What revolution, at the onset of a fresh tenure of a government that has just won an election where you the zealous ‘revolutionary’ contested and lost. What revolution? If revolutions had been so easy, Nzeogu, Awolowo, Tai Solarin, Wole Soyinka, Ojukwu and others would have done so even more successfully in Nigeria with their highly cerebral brains and constituents. The rising revolution in Nigeria will succeed , as it is going to be engineered by scions, kiths and kind of renowned cabals in Nigeria, past and existing. It will be soon, it won’t be long.
So, it is not only about closing borders in a rice revolution. If thoroughly searchlight is beamed , fellow countrymen and women, it is a rising revolution.
The Nigerian government spent a staggering $3.58 billion on servicing foreign debt within the first nine months of 2024, marking a significant 39.77% increase compared to the $2.56 billion expended over the same period in 2023.
This data, drawn from a recent report on international payment statistics by the Central Bank of Nigeria (CBN), reflects a concerning rise in the country’s foreign debt obligations amid depreciating currency values.
According to the report, the most substantial monthly debt servicing payment occurred in May 2024, totaling $854.37 million. This is a substantial 286.52% increase from May 2023’s $221.05 million.
Meanwhile, the highest monthly payment for 2023 was $641.7 million in July, underscoring the trend of Nigeria’s escalating debt costs.
Detailed analysis of monthly payments further illuminates the trend.
In January 2024, debt servicing costs surged by 398.89%, reaching $560.52 million, a significant rise from $112.35 million in January 2023. However, February saw a modest reduction of 1.84%, with costs decreasing from $288.54 million in 2023 to $283.22 million in 2024. March also recorded a decline of 31.04%, down to $276.17 million from $400.47 million the previous year.
Additional fluctuations in debt payments continued throughout the year, with June witnessing a slight decrease of 6.51% to $50.82 million from $54.36 million in 2023. July 2024 payments dropped by 15.48%, while August showed a 9.69% decline compared to 2023. September, however, reversed the trend with a 17.49% increase, highlighting persistent pressure on foreign debt obligations.
With the rise in exchange rates exacerbating these financial strains, Nigeria’s foreign debt servicing costs are projected to remain elevated.
The central bank’s data highlights how these obligations are stretching national resources as the naira’s devaluation continues to impact debt repayment in dollar terms.
Rising State Debt Levels Add Pressure
The federal government’s debt challenges are mirrored by state governments, whose collective debt rose to N11.47 trillion by June 30, 2024.
Despite allocations from the Federal Accounts Allocation Committee (FAAC) and internally generated revenue (IGR), states remain heavily reliant on federal transfers to meet budgetary demands.
According to the Debt Management Office (DMO), the debt burden for Nigeria’s 36 states and the Federal Capital Territory (FCT) rose by 14.57% from N10.01 trillion in December 2023.
In naira terms, debt rose by 73.46%, from N4.15 trillion to N7.2 trillion, primarily due to the naira’s depreciation from N899.39 to N1,470.19 per dollar within six months. External debt for states and the FCT also increased from $4.61 billion to $4.89 billion during this period.
Further data from BudgIT’s 2024 State of States report illustrates how reliant states are on federal support. The report revealed that 32 states depended on FAAC allocations for at least 55% of their revenue in 2023.
In fact, 14 states relied on FAAC for 70% or more of their revenue. This heavy dependence on federal transfers underscores the vulnerability of states to fluctuations in federal revenue, particularly those tied to oil prices.
The economic challenges facing both the federal and state governments are stark. The combination of mounting foreign debt, fluctuating exchange rates, and high reliance on federally distributed revenue suggests a need for fiscal reforms to bolster revenue generation and reduce vulnerability to external shocks.
With foreign debt obligations continuing to grow, the report emphasizes the urgency for Nigeria to address its debt sustainability to foster long-term economic stability.
Engr. Aderemi Oseni, representing Ibarapa East/Ido Federal Constituency of Oyo State in the House of Representatives, has called for a prompt investigation into the increasing occurrences of building collapses in major cities across Nigeria.
In a motion presented to the House on Wednesday, Oseni expressed deep concern over the alarming frequency of building collapses, emphasising the threat they pose to the lives and property of Nigerians.
The APC lawmaker, through a statement by his media aide, Idowu Ayodele, cited the recent collapse of a two-storey school building at Saint Academy in Busa Buji, Jos, Plateau State, on July 12, 2024. The tragic incident, which trapped 154 people and claimed 22 lives, is the latest in a series of similar disasters, raising serious concerns nationwide.
Oseni also referenced a report from The Punch newspaper, which revealed that Nigeria had recorded 135 building collapse incidents between 2022 and July 2024.
“This figure is alarming and unacceptable,” he stated, stressing the urgency of preventing further occurrences.
The Chairman of the House Committee on Federal Roads Maintenance Agency (FERMA), Oseni reminded the House that the Council for the Regulation of Engineering in Nigeria (COREN) and other relevant professional bodies are responsible for ensuring compliance with building standards and practices.
“Despite these regulatory frameworks, the recurring collapses suggest that enforcement is lacking. The loss of lives, properties, and resources is staggering, and this disturbing trend must be addressed immediately,” he remarked.
He proposed the formation of an Adhoc Committee to investigate the underlying causes of these collapses and recommend both immediate and long-term solutions.
Also, he urged the House Committee on Legislative Compliance to ensure swift implementation of any recommendations.
The House agreed to deliberate on the motion and is expected to present its findings and proposed actions within eight weeks.
The Vice-chairman of the Oyo Council of Obas and Chiefs, Oba Francis Olusola Alao, has expressed deep concern over the increasing involvement of religious leaders in material pursuits, accusing them of abandoning their spiritual duties in favour of wealth and influence.
Oba Alao, who is also the Olugbon of Orile Igbon, made this statement during a visit from the leadership of the Cherubim and Seraphim Church Movement “Ayo Ni O,” led by Baba Aladura Prophet Emmanuel Abiodun Alogbo, at his palace in Surulere Local Government on Thursday.
The monarch accused some religious leaders of sharing part of the blame for the moral and political crises that have engulfed the nation. According to him, spiritual leaders, once seen as the moral compass of society, have become compromised by corruption, aligning themselves with the very forces they should condemn.
Oba Alao was unapologetic in his criticism, stating, “Ninety-five percent of Nigerian leaders, both political and religious, are spiritually compromised.”
He argued that this moral decay among clerics has made it impossible for them to hold political leaders accountable or speak the truth to those in power, as their integrity has been eroded by their pursuit of material wealth.
“Carnality has taken over spirituality. Our religious leaders can no longer speak the truth to those in authority because their minds have been corrupted. Most of the so-called General Overseers (G.O.) are corrupt and perverted,” Oba Alao added.
He stressed that this shift towards wealth accumulation at the expense of spiritual values has greatly contributed to the country’s stagnation in development and social justice.
Olugbon urged both religious leaders and traditional rulers to reflect on their actions, reminding them that they would be held accountable for their stewardship, both in this world and the next.
“The prayers of sinners are an abomination before God, hence the need for our leaders to rethink,” he warned.
The monarch concluded by reiterating the transient nature of power and the importance of staying true to sacred duties, regardless of the temptation to indulge in worldly gains. “I am a traditional ruler. I don’t belong, and will never belong, to any occultic groups,” he emphasised, drawing a clear line between his position and the corrupt practices of some leaders.
In response to the Cherubim and Seraphim Church Movement’s request for collaboration on community development projects, Oba Alao assured them of his support.
“Your requests are aimed at the development of the Orile Igbon community. I am assuring you that necessary assistance will be provided in this regard.”
Earlier, Prophet Alogbo requested the monarch’s collaboration on a range of community development projects. These initiatives include the establishment of a women and youth empowerment center, clean drinking water initiatives, a bakery, animal production facilities, and farm produce processing.
Other proposals included a diagnostic and medical center, a full-size recreational sports facility, and a home care facility for the elderly.
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