National Issues
Insecurity: Obasanjo or Jonathan, who should Nigerians believe?
I grew up in Ibadan, one of Africa’s most densely populated town, then, just few years ago, the sound and sight of bomb explosions were alien to us, except the ones we heard were happening in war-torn countries and the ones we probably watched in movies.
Today, terrorism and insecurity are right in our midst and those of our children.
Terrorism is incontrovertibly very deadly but the growing parlous insecurity situation is not limited to this alone; armed robbers are on the prowl, raping/gang-raping, maiming, cult violence and killing of innocent people on the roads, in their houses and even inside places of worship.
Killing for ritual purposes, political violence during which many Nigerians have been gunned down by the bullets of assassins to settle political scores. Kidnapping has become a lucrative business, maritime and airspace insecurity had claimed very many precious lives.
No place is safe, none is exempted; unborn babies, kids with promising future, helpless women, people of high and low status are affected daily by the insecurity malaise, in the only country they claim as their own.
Exactly when and how we got into this labyrinth is opaque but the effects stare us all in the face. Socio- economic implications of insecurity include loss of lives and properties, damaged psyche of the citizenry, rural-urban migration, dearth of skilled manpower and reliable data, more unemployment, low rating of the country, lack of foreign direct investment, negative effects’ on National Budget, distorted National Planning and myriads of other detrimental impacts.
As insecurity hit the nation, several solutions had been offered. These had included identifying, demystifying criminal groups, better policing with the use of intelligence reports, proper funding of security architecture, transparency and accountability in governance, food security, re-focused press coverage, dialogue and amnesty.
As there exists strong nexus between unemployment and insecurity, unarguably, jobs must be created to engage the hordes of youths roaming the streets.
In a Cable News Network (CNN) interview recently, while responding on how to tame the Boko Haram insurgence, former President Olusegun Obasanjo (OBJ) opined, “to deal with a group like that, you need carrot and stick.
The carrot is finding out how to reach out to them. When you try to reach out to them and they are not amenable to being reached out to, you have to use the stick”.
Ex- President, Goodluck Ebele Jonathan (GEJ) had continued to give assurances to Nigerians that his administration would soon be on top of the situation. That culprit would soon be apprehended. Bla, bla, bla…
Is OBJ Right or can we trust GEJ?
The state of insecurity has worsened since President Goodluck Ebele Jonathan won the presidential election in April 2011. Many believe that the growing terrorists activities and sectarian violence in the land were caused by some of those who contested against Jonathan.
President Goodluck Jonathan is not oblivious of the insecurity challenges in the land. The much touted national transformation agenda of the Jonathan administration came to nought when there was no solution to the menace of insecurity ravaging the country. In fact, policy analysts had posited that the ability of the past administration to nip in the bud the problem of insecurity and improve electricity supply would be major indices to evaluate the Jonathan administration at the end of his tenure.
GEJ had his good points; his rise to political ascendancy had not been, with any remarkable achievement in the area of good governance.
OBJ’s critics are quick to point out that in the first place, he foisted GEJ on Nigeria as President of Africa’s most populous country. That retrospectively, many of the factors responsible for insecurity now started during OBJ’s tenure and that some reached their peak when OBJ was President. Issues like corruption, super-ministers, assassinations and other malaise thrived under Obasanjo with reckless ignominy.
Nevertheless, OBJ as a statesman was right as he sure knows that security is central to development. His summation on Boko haram confirms this, “Boko Haram undermines security and anything that undermines security, undermines development, undermines education, undermines health, undermines agriculture and food, nutrition and security”.
From the vintage viewpoint of a country he had been opportune to govern over many years, for OBJ to posit that Nigeria has been caught in the web of high network insecurity and that obviously efforts to disengaged the nation from these social maladies had been futile are positions worth giving keen considerations.
The level of insecurity in the country is worrisome. Urgent steps need to be taken to address the problem. Nigerians had almost lost count of the number of terrorists’ attacks that had hit the country, in the last few years. Presidential condolences are not assuaging the pains; only a final stoppage can bring gain to the citizenry .
The Nigeria Police Force appears to have a little or no control over the situation; a situation that has made the ordinary law-abiding, tax-paying citizen to lose confidence in the ability and capacity of the State to protect lives and property of the citizens. It is on this weight that some people had advocated the creation of state police to tackle the security problem in the land.
There is a strong sceptism that if the level of insecurity in our country is not scaled down, Nigeria’s vision to be among the best countries of the world may be a mirage. The generation of leaders to which OBJ, GEJ and Buhari belonged, would be in history of the country, a failed generation. This is a fact that OBJ, GEJ know; this is the reality Buhari must face decisively.
By Dr. Ajibola Esuola.
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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