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Harsh economy: Buhari spent 96% of national income on debt — Oshiomhole
FORMER National Chairman of the All Progressives Congress, APC, Senator Adams Oshiomhole, yesterday, revealed that President Bola Tinubu’s administration inherited an economy in which the nation’s revenue was barely enough to service its debt burden, spending 96 per cent of its income.
Senator Oshiomhole also said there was no quick fix to the nation’s economy because what he (Tinubu) inherited was a precarious situation. The lawmaker, who represents Edo North Senatorial District, spoke after a meeting with Vice President Kashim Shettima at the Presidential Villa.
Oshiomhole said: “The issue of the economy is work in progress. There is no quick fix. The Federal Government inherited a terrible economic situation. The government inherited an economy in which our total national revenue was barely enough to service our debt burden.
Spending 96 per cent, which is to say every N100, 000 Nigeria earns, N96,000 is used to repay debts and to service debt. So, you have only 4k left to pay all the salaries. So, nothing can be worse. “But they came determined that they will have to do business unusual; to arrest the drift; stabilize the economy and then begin to move forward. Some painful decisions are necessary.
“Already, the executive—the president and vice president—have shown courage in terms of the decisions they have taken, a radical movement away from one in which if you are well connected you could make billions without adding value to one in which if you want to make money, you have to work. We move away from a situation where the Central Bank of Nigeria, CBN, can favour you and you become a billionaire; of which they can pauperize you and your business collapses.
“Yes, it has created its challenges, but I don’t know of any drug without side effect. Doctors will always tell you that every drug might cure your ailment but it will have a side effect. So, in taking it you have to do cost and benefit analysis.
“On the whole, I believe that the broad economic, specific macro economic policies that have been put in place so far, both in terms of monetary and fiscal policies, is the best way to start.
“Just recently, a former Minister of Finance distanced herself from the monetary policies of a CBN Governor and they were not talking. If the hand and the leg are not walking in harmony, then there is no way you can get to your destination. So, I think we are in a better situation now.”
In his appeal to Nigerians, the former governor of Edo State said: “My plea to Nigerians is, when I say I will bail you out, I will fix a complicated system that is malfunctioning, I believe everyone knows that the more terrible the situation is, the more time I will require to take the right decision.”
Credit to: vanguardngr.com
Children National Assembly calls gov’t to action
Hon. Tida Barrow, member for Kanifing Municipality (KM), who read the Order Paper on behalf of CNAG, stated: “Children National Assembly of The Gambia (CNAG) is a child-led, non-statutory body established by the Government of The Gambia, through the Gambia National Assembly and the National Youth Council in partnership with UNICEF The Gambia, Ministry of Gender, Children and Social Welfare, Child Protection Alliance, ChildFund The Gambia and the National Youth Parliament with the ultimate aim to promote and advocate for the rights of all children as enshrined in the Convention on the Rights of the Child, the African Charter on the Rights and Welfare of the Child and all other legal instruments pertaining to the promotion, protection and development of children in The Gambia.”
Hon. Barrow recognises the fact but “despite the progress made, there are still challenges the country is grappling with which calls for collective action” by the Government and other relevant stakeholders to address them for the adequate protection, provision, participation and development of children in The Gambia.
In view of the above, CNAG, she states, calls on the government to respect, protect and fulfill the rights of every child in The Gambia irrespective of background, religion, ethnicity, disability or any other consideration or status.
She said they want the government and the society to “adequately and effectively enforce and implement all the laws” which protect children from all forms of sexual abuse, violence, exploitation, hazardous labour and trafficking.
Government, she continued, should also adequately and effectively implement and enforce the Children’s (Amendment) Act 2016, which prohibits child marriage, and the Women’s (Amendment) Act 2015, which prohibits Female Genital Mutilation/ Cutting, and diligently prosecute violators of these laws.
She added that Government should make basic and secondary education totally free, compulsory, qualitative, accessible and available to all children, including children in Arabic Schools “Madarasas”, and also establish standard science and IT laboratories in all schools in The Gambia and support their effective functioning.
Government should also “provide adequate school buses in all the regions of The Gambia”, particularly for rural Gambia, she stated.
She also urged society to break the culture of silence surrounding child sexual abuse and exploitation through organising open national and community dialogues using all available channels.
“Promote and fulfil the rights of children with disabilities, fight discrimination and stigmatisation against them and ensure they have access to all services and buildings,” she told the government and society, saying: “Encourage the active participation and involvement of children in decision-making processes at the national and local levels, including through child-friendly digital technologies.”
TODAY IN HISTORY
August 16th
1858 The First Transatlantic Telegraph Message is sent
The message sent by Britain’s Queen Victoria to American President James Buchanan, read ‘Europe and America are united by telegraphic communication. Glory to God in the highest, on earth peace, goodwill to men.’ The cable, which cut down the time of communication between the two continents was successful only for a few months. Technical difficulties led to the cable being closed in October of 1858.
DARBOE SAYS STADIUM RENOVATION PROJECT SHOULD BE INVESTIGATED
The leader of the main opposition United Democratic Party has advised President Adama Barrow to institute an investigation into the Independence Stadium remodeling contract. The stadium is among many disapproved by African football governing body Caf to host international matches.
Though the facility is currently under renovation said to cost D160M, the government’s hope of meeting the Caf criteria was dashed when the continental body maintained the facility on the list of disapproved stadiums for the coming Afcon qualifier against Congo which must now be played in Morocco. Caf also listed a host of requirements that the facility should have before it can be approved and also lamented that some errors could have been avoided if they have been consulted. The Gambia Football Federation said they have not been involved in the awarding of the contract among other processes.
Giving his view on of the matter to visiting UDP executive branch in Spain, Ousainu Darboe said after all what happened, any serious government would have by now instituted an investigation into the D160 million stadium renovation contracts.
“A budget of D160 million was expended in our national stadium, but according to the minister of finance, he only approved D100 million. But for me, that is not important; whether it is D2 million or D60 million, the work should be done as planned. But that didn’t happen, and the president is quiet about it because the contract was given to their friend. If this was a serious government, the moment this was announced, the president would have called for an investigation and the outcome be brought before him in less than a week,” he said.
Darboe went on: “Today, they sing Dr Bamba Banja’s name and say that his prosecution over a D50,000 corruption charge is an indication that they are fighting corruption. But D50,000 is not even good enough for some people’s daily fish money. Millions have been mismanaged here, and nothing comes out of it, but they are using Banja’s case as a scapegoat when they are sitting on dirty things, and they ignore them. Where are the others involved in Dr Banja’s case? Essentially, I am trying to say that the change in 2016 was just to remove Jammeh, but his way of governance is still here. All those who are holding important positions today were in the APRC. The minister of energy was a minister under Jammeh, and the minister of information, Queen Jammeh, was among the chiefs who wanted to make Jammeh king. You cannot finish counting them, so it is the APRC that is in government. In 2016, all the opposition parties galvanised themselves to remove Jammeh, but the person we picked to lead that process is now consolidating the APRC’s style of governance,” Darboe lamented.
He said Gambians should galvanise efforts again to remove the current government and replace it with a responsible one that would bring about the needed change in Gambia.
“We said Jammeh is not good, and we tried to remove him and bring about a better and more responsible governance system to restore the rule of law and end corruption, but corruption is worse in this country today. Yahya Jammeh used the chiefs and governors as political tools, and Adama Barrow is doing the same. Tell me what the difference is,” he said.
Hajj
Commenting on the much talked-about mishaps in this year’s hajj, Darboe said: “I have seen things that I have never seen in this country—a minister signing a contract for a hajj package. The Amir responsible for hajj should be the one signing those issues, and the minister has no authority to sign hajj packages. This is why today people are complaining, and the authorities are quiet about it,” he said.
Advisers
Commenting on presidential advisers, Darboe lamented that they are paid by tax payers’ money, and at the end of the day, they will go and campaign. “When you see the likes of Dodou Sanno being escorted by a paramilitary officer, then you know things are not normal. Imagine the majority leader Bilay Tunkara and minority leader Alagie S Darboe are not given escorts, but they can give them to useless people called advisers,” Darboe lamented.
Credit to: standard.gm
Remove sanctions imposed on Niger — Northern Elders tell Tinubu, ECOWAS
The Northern Elders Forum, NEF, has urged President Bola Ahmed Tinubu and the Economic Community of West African States, ECOWAS to remove sanctions imposed on Niger to ease negotiations and prevent war.
Addressing newsmen in Abuja, Convener of NEF, Professor Ango Abdullahi, emphasized that the safety of President Mohamed Bazoum and the return of constitutional order to Niger was non-negotiable but urged the ECOWAS to explore all options before resulting to war.
His speech read by the NEF’s spokesperson, Dr. Hakeem Baba-Ahmed said: “The safety of President Bazoum and his family and restoration of the constitutional order must remain non-negotiable priorities. The military leaders in Niger must accord due cognizance and respect for the position of ECOWAS, whose fundamental principles and goals Niger Republic submitted to.
“Active negotiations regarding President Bazoum and the plans of the military leadership in Niger should commence immediately. Nigeria is uniquely placed to engage the leadership of Niger Republic to accept these with the minimum of delay.
“President Tinubu is Chairman of ECOWAS and leader of Nigerians. He should explore ways of balancing these responsibilities without doing any injury to the position of Nigeria and Nigerians in Niger Republic and the unity of the ECOWAS.
“Nigeria should remove all sanctions and other measures intended to force the government and people of Niger into acquiescence. This will make negotiations led by Nigeria, using all assets that both countries value, easier to conduct. The Forum notes the apology offered by the military leaders in Niger to our President over the manner his envoys, General Abdussalami and His Eminence, Sultan of Sokoto were received.
“It advises that this should be treated as a sign of the respect and esteem with which Nigeria and President Tinubu are held by the putschists, which should not be wasted. We have also noted the other delegations of Mr. President who were well received.
“The signs that Nigeria can be a major facilitator in triggering potentially useful negotiations are good, and we advise that these positive indicators should be built upon. Negative sanctions are affecting the morale and welfare of citizens of both countries, and they will detract from the existing positive disposition towards Nigeria’s position”.
Abdullahi emphasized that the use of force against Niger should be completely ruled out, saying that it could hinder the restoration of constitutional order in the state and that Nigeria should not be involved in the use of force.
According to him, “The use of force against Niger should be ruled out. It is unlikely to achieve the goals of restoring the constitutional order and improving the frontiers of democratic systems in West Africa.
“It will compound the security and humanitarian crises in the ECOWAS region. It is likely to weaken and further divide the ECOWAS and provide greater access of non-African interests into the lives of Africans, with negative consequences. It will represent a setback in the goodwill which ECOWAS enjoys in Nigeria. In the event that force is used in Niger, it should not involve Nigeria, at all cost”.
He added that: “The ECOWAS should actively re-assess the roles and designs of non-African interests in the West African region. In addition to multiple threats from armed groups in the Sahel and the region, we are becoming increasingly victims of global military manoeuvres and a scramble for our assets.
“Ordinary Africans understand this, and they resent another wave of exploitation of our weaknesses and our resources by parts of the world who have little respect for Africa. African leaders must improve the quality of elections and governance so that African people can value and defend democracy in Africa with greater vigor.
“NEF commends all leaders and persons of influence, including the Nigerian Senate, who are contributing to a genuine resolution of the situation in Niger Republic. We urge President Tinubu to recognize this unique moment in history and conduct himself in a manner that it records his role as defining statesmanship.
“We appeal to the people of Nigeria and Niger, as well as our leaders, to resist any attempt to poison our centuries of invaluable relationship”.
Credit to: vanguardngr.com
Niger junta recalls envoy as Ivorian president backs ECOWAS military intervention
Military leaders in Niger have recalled the country’s ambassador to Cote d’Ivoire as the Ivorian president Alassane Ouattara said he would support the military intervention of the Economic Community of West African States (ECOWAS).
The spokesman for the junta, Colonel Amadou Abdramane, said the ambassador had returned to Niamey for consultations, as the African continent follows the Niger crisis with keen interest.
In an address on national TV, Abdramane said Ouattara’s wish was to see illegal and senseless aggression against Niger enforced, RFI reported.
Outtara’s remarks came after he returned to Cote d’Ivoire from a summit in Nigeria where leaders of the 15-nation ECOWAS decided to activate the bloc’s standby force for a possible military response to the coup.
“The heads of state agreed to deploy troops from a number of countries, including Cote d’Ivoire,” said Outtara.
“Cote d’Ivoire will provide a battalion and has made all financial arrangements for the operation if it is to last three months,” he added.
“Provisions will be made at the budgetary level so that our soldiers and officers who will participate in this operation do not lack anything. So Cote d’Ivoire is ready.”
RFI said in the report that it is understood that Cote d’Ivoire would provide a battalion of between 850 and 1,100 troops.
On Sunday, General Abdourahamane Tiani-led junta said it intended to prosecute the deposed president Mohamed Bazoum for high treason and undermining state security. If convicted, Bazoum could face the death penalty, according to Niger’s penal code.
Abdramane said that the military regime had gathered the necessary evidence to prosecute Bazoum who was toppled on 26 July.
In a similar development to ECOWAS, leading politicians from across the continent met in Addis Ababa at the headquarters of the African Union to discuss the crisis in Niger on Monday.
They, however, have not issued any formal declarations but it is believed they will add their voice to the international pressure to release and reinstate Bazoum.
credit to: vanguardngr.com
TODAY IN HISTORY
AUGUST 15TH
1960 Congo gains its Independence
The Central African country came under French control in the late 19th century. In the early 20th century, the French consolidated their territories in Central Africa to create the French Equatorial Africa, with Brazzaville as its capital. During the Second World War, when the Nazis occupied France, Brazzaville acted as the temporary capital of Free France. After violent protests and riots, the country became independent with Fulbert Youlou as its first President.
HAPPY NEW WEEK
“Success is not final, failure is not fatal: It is the courage to continue that counts.” – Winston Churchill
Jay Jay Okocha: Super Eagles legend honoured by ex-teammates, African stars on 50th birthday
It was a congregation of stars as betting giant BetKing celebrated Nigeria Super Eagles legend Jay Jay Okocha who will clock 50 on Monday.
Jay Jay Okocha was the cynosure of all eyes as BetKing hosted his former Super Eagles teammates and African footballers during a novelty match at the Onikan Stadium on Sunday.
Okocha Dynamo emerged winners against Nigeria’s Dribblers following a 13-goal thriller.
The 49-year-old remains one of the most talented footballers to come out of Nigeria and Africa.
Okocha, who was the former captain of the Nigeria Super Eagles is regarded as one of the most talented players to ever play the game.
Known for his dribbling skills, Jay Jay entertained football lovers in Germany, Premier League, Ligue 1 and Turkey.
His time at English side Bolton Wanderers earned him a place as one of the top 10 greatest Africans to ever play in the Premier League.
BetKing celebrate Okocha
Following his reputation in the game, BetKing put together a novelty match to celebrate Okocha’s 50th birthday.
Following his reputation in the game, BetKing put together a novelty match to celebrate Okocha’s 50th birthday.
The leading sports and digital entertainment company announced the novelty match to celebrate the birthday of its brand ambassador and Nigeria football icon.
It was a well-attended event that was witnessed by some of the best players across Africa.
The match ended in a 13-goal thriller with Team Jay Jay Okocha winning 8-5 in what was an entertaining encounter.
The stars who came around to honour the football icon included prominent international legendary footballers, Emmanuel Adebayor, Asamoah Gyang, Joseph Yobo, Mutiu Adeboju, Ifeanyi Udeze, Taribo West, amongst others.
Okocha, his son, Yobo and Adepoju were some of the players who netted some fine goals in the goal-fest.
Credit to: pulsesport.ng
Subsidy removal: Kill corruption, not Nigerians, Bakare tells Tinubu
LAGOS——SENIOR Pastor of the Citadel Global Community Church, formerly known as the Latter Rain Church, Pastor Tunde Bakare, yesterday, declared that he was not against the removal of the fuel subsidy but the corruption in the system.
While he noted that fuel subsidy removal and its harsh economic impact was taking a toll on Nigerians, Bakare urged President Bola Tinubu to kill corruption and not Nigerians.
The firy televangelist also tasked Tinubu to “mount a genuine fight against corruption, rise above vendetta, foster reconciliation, and give every Nigerian a reason to believe in a united country.
The cleric, who spoke on State of the Nation broadcast, theme ‘’Vice, virtue and time: The three things that shall never stand still’’, held at the church auditorium, located on Kuditat Abiola way, Ikeja in Lagos, also faulted the proposed military intervention in the Niger Republic by ECOWAS.
Speaking on the harsh economy in the country, he said: “What is further clear concerning our domestic challenges is that by imposing hardship on Nigerians without going after those corrupt individuals, corporations and government officials, who have plundered Nigeria over the years in the name of subsidy, the president has picked the wrong fight.
‘’In his Monday, July 31, 2023, address to the nation, the president stated that the vast sum of money which ‘would have been better spent on public transportation, healthcare, schools, housing and even national security…was being funnelled into the deep pockets and lavish bank accounts of a select group of individuals.
“The president further stated that the subsidy removal policy was to stop the squandering of monies on smugglers and fraudsters.
“This compels us to ask the following salient questions: Who are these select groups of individuals into whose deep pockets our national treasury has been funnelled?
‘’Who are these smugglers and fraudsters that have been defrauding our nation in the name of subsidy?
“Who are these nameless characters that have fed fat at the expense of the poor? Or are they all sacred cows?
‘’Mr President, if you are truly on the side of the poor, if you are serious about the welfare of the people, if you truly want the poor to breathe, as you once said, then kill corruption, not Nigerians.
“Fellow citizens, the rallying cry by which the Save Nigeria Group, SNG, galvanised Nigerians in January 2012 at Gani Fawehinmi Pack, Ojota was ‘kill corruption, not Nigerians’
This was our cry when we made it evident that our fight was not against the removal of fuel subsidy but the corruption in the system. This was our fight when, amid the threats to my life and family, right there at Ojota and live on national and international television, I called out by name those individuals and corporate entities who had allegedly ravaged our nation.
“Mr President, given the complexity of the Nigerian economy, we are not thoroughly convinced that your palliatives will be sufficient to cushion the effect of your policies on the Nigerian citizen.
‘’What we do know, however, is that on May 29, 2023, you swore an oath to ‘be faithful and bear true allegiance to the Federal Republic of Nigeria, and to preserve, protect and defend the Constitution of the Federal Republic of Nigeria.”
On the coup in Niger Republic, Bakare kicked against the proposal by ECOWAS for military intervention, describing it as counter-intuitive.
He said: “It is, therefore, counter-intuitive to engage in what could be a protracted conflict. This much the Tinubu-led ECOWAS ought to have learnt from the aftermath of America’s invasion of Iraq in 2003.
‘’While we condemn the spate of coup d’états in West Africa, we recognise that the situation calls for deep introspection on the part of African leaders and makes even more urgent the case for good governance.
‘’The call upon Nigeria at this time is not so much to compel submission in the subregion through the force of might, but to command alignment through exemplary governance. The real question is whether President Tinubu is capable of providing such moral leadership, even in the domestic context.
“The president furtherstated that the subsidy removal policy was to stop the squandering of monies on smugglers and fraudsters.
“Mr President, while we admit that, as of today, our nation has transitioned from an administration that came to power on the supposed wings of integrity and anti-corruption to one that cannot be described as such, the fact remains that you are today the President of the Federal Republic of Nigeria with enormous powers to fight against corruption in its hydra-headed forms.
“Even if the allegations against you are valid, you can still have a road to Damascus experience and decide today to stand on the side of probity and bring to book the vested interests that have built their wealth on the ruins of our nation.
‘’You can decide today to take the burden of reforms off the Nigerian people and go after the corporations and individuals who have plundered our nation. You can decide today to stand with the poor and take the fight to the plunderers.
‘’Mr President, even though you have announced some palliatives, let me remind you that palliatives cannot address the root cause of the problem.
“Therefore, we demand that you address the root cause of the problem. Take the yoke off the neck of the poor, go after the looters, recover the loot, and retool it to the benefit of Nigerians. In simple terms, Mr President, kill corruption, not Nigerians.
“Some may ask at this juncture: Who exactly are these plunderers that have been enabled over the years to launder our collective patrimony through a dubious subsidy regime? How much can we recover from them?
‘’My fellow citizens, tighten your seat belts as I take you back to certain alarming events that occurred in our nation’s recent history; events that have elicited lingering questions.”
Bakare, who took a swipe at the continued detention of the suspended governor of the Central Bank of Nigeria, CBN, Mr Godwin Emefiele, and Chairman of the Economic and Financial Crimes Commission, FCC, Mr Abdulrasheed Bawa, described it as a clampdown on perceived political adversaries.
His words: “Recently, the actions of the DSS have raised concerns about professionalism and adherence to the rule of law. Instances such as the reported invasion of the premises of the EFCC and the handling of the case of the suspended Governor of the Central Bank of Nigeria, CBN, Mr Godwin Emefiele, have sparked discussions regarding the need for due process and equitable application of justice.
‘’Considering the reported claims by the DSS that its actions were in line with ‘an order from above,’ the handling of the Emefiele case has sent a signal to the world that the current president’s disposition to the war against corruption is primarily motivated by a clampdown on perceived political adversaries, while various other enemies of Nigeria remain untouched.
‘’Mr Godwin Emefiele may have made the wrong judgement calls in the management of Nigeria’s monetary policy, but he must not be made a scapegoat. By the provisions of the Central Bank of Nigeria, CBN, Act, 2007, there is every possibility that the erstwhile Central Bank Governor did not act without presidential authorisation. If Emefiele is found liable for any crime, by all means, he should be prosecuted.
“However, considering the dynamics of the pre-election environment, and the then-candidate Bola Tinubu’s public allegation that the naira-redesign policy was targeted at him, the optic of the president targeting Emefiele for prosecution after winning the election and being sworn in as president could be interpreted as a form of vendetta far beneath such a distinguished office.
“The same can be said of the detention of the suspended chairman of EFCC, Mr Abdulrasheed Bawa. Mr Bawa was not only linked to the naira redesign policy, but he had also disclosed that the anti-graft agency would arrest and prosecute some outgoing governors after the expiration of their immunity on May 29, 2023.
“Once again, if Bawa is indicted in any criminal investigation, then the lawful thing to do is to prosecute him. To continue to hold him in detention, in these circumstances, raises significant concerns about the readiness of the Tinubu administration to fight corruption.
‘’This undemocratic disposition questions the pro-democracy antecedents of the president and indicates the consolidation of authoritarian tendencies.
“It is rather preposterous that the DSS has reduced itself to a pack of Napoleon’s dogs let loose on perceived opponents of the president when, in this same country, a militant like Asari Dokubo is openly breeding an armed militia in open support of the president, doing so with impunity and without as much as a slap on the wrist from the security agencies.
“Our security agencies cannot look the other way in the face of the brazen violation of the constitution by non-state actors who declare allegiance to the president while being ever poised to clamp down on the rights of the perceived opponents of the powers that be.
“Let me remind those who constitutionally hold a monopoly on the use of force that they do so on behalf of the Nigerian people and not as agents of those in power. This reminder is especially pertinent as Nigerians become increasingly agitated due to the hardships imposed on them by the government.
“As citizen-led movements spring up in Nigeria, the democratic quotient of those in power will be tested. Such office holders must remember the warning we sounded in December 2011, a few weeks before the protest in Ojota.
‘’ Let those relying on their ill-equipped, underpaid, and underfed police officers and political thugs remember the words of President J. F. Kennedy: ‘A society that cannot help the many who are poor, cannot save the few that are rich.’
“Undeniably, the state of our nation calls for courage. However, as the story of Rehoboam, the fourth king of Israel, teaches us, the kind of courage that adopts anti-people policies and oppresses the weak will only yield divisive outcomes.
‘’Therefore, Mr President, use your courage to lessen the burdens of our citizens and not to further oppress them. Use your courage to unite the nation and not to further divide us.”
While charging the president to address historical grievances and not to further deepen wounds, Bakare said: “Use your courage to address historical grievances and not to further deepen wounds. Do justice, mount a genuine fight against corruption, rise above vendetta, foster reconciliation, and give every Nigerian — in the East, West, North, and South — a reason to believe in a united Nigeria.”
Nigerians fed up with APC
On the outcome of the 2023 general elections, Pator Bakare said it was an indication that Nigerians were fed up with the All Progressives Congress, APC, just as he warned the party to revisit its foundation if it was to survive politically.
He said: “At this juncture, I must also sound a warning to the ruling party, the APC. I was there when the APC was formed and the extent of my involvement is well-documented. As a stakeholder and, more importantly, as a nation-builder, I am obligated to state without equivocation that this is not the APC we envisaged.
“The results of the last elections were a clear indication that Nigerians are fed up with what the APC has become. According to the results released by INEC, in the presidential elections, the APC had 15.4 million votes in 2015 and 15.2 million votes in 2019, but by the 2023 elections, the APC’s support base had declined significantly to 8.8 million, with a loss of almost half of the traditional support base. ‘’If it were not for the divisions within the People’s Democratic Party, PDP, and the emergence of the Obidient movement of the Labour Party, LP, that split the traditional support base of the PDP, the APC would have convincingly lost the 2023 elections.
“Even now, the party’s victory as announced by the Independent National Electoral Commission, INEC, is being challenged in court. When I consider the vision and founding spirit that birthed the APC, I cannot but conclude that the APC is losing the plot.
‘’The APC was established as a progressive party with clear motivations to establish true nationhood, eliminate corruption, oversee governance structure reforms, eradicate poverty, and facilitate economic growth.
‘’However, like its predecessor, the PDP, the APC has now become a platform for politicians who have neither conviction nor ideology and who hop from party to party seeking power at all costs. The suffering meted out to the Nigerian people as a result of anti-people policies are not what the APC once stood for.
“The APC stood for progressivism. Progressivism is characterised by substantial public investments in social sectors such as education and healthcare, and it achieves inclusiveness and social mobility by deploying political power to provide a minimum standard of living for citizens; progressivism prioritises equity, justice and inclusiveness in access to opportunities. ‘’While it facilitates a private sector-led economy, its economic growth policies are hinged on empowering the people by redistributing opportunities on the bases of fairness and equity. Progressivism is not built on trickle-down economics; instead, it is grassroots-oriented, invests in local opportunities, and builds the economy from the bottom up.
“As progressivism eradicates currency arbitrage, it would not leave the currency to float without a guarantee of domestic production, the cushioning effect of social investments, and a readiness to intervene where necessary to strengthen the local currency.
‘’As progressivism eliminates a corruption-ridden subsidy regime, it would not hesitate to boost or underwrite access to factors of production such as energy, infrastructure, and human resource in an atmosphere of transparency and accountability.
‘’A progressive approach to the subsidy conundrum would have been characterised by a phased removal of subsidy, buffered by transparent investments in local refining capacity and social welfare, while the corrupt individuals and corporations that have bled the nation are compelled to return their loots.
‘’Whereas progressivism cooperates with the international community in compliance with international economic and trade law, it would not allow the economy to drift in the ocean of one-size-fits-all recommendations by neoliberal foreign interests.
“If the APC hopes to survive as a political party in a political landscape that is becoming highly competitive, it must revisit its foundations and reinvent itself into a new party that is an
Alternative, Parallel, and Contrast, APC, to what the current party has become.
‘’While the president has tried to stabilise a rocking boat by announcing some interventions, let it be known that we cannot build a strong economy on reactionary and shifting policies. The president and his team must return to the drawing board to drive a coordinated economic programme based on the original progressive ideology of the APC.”
Credit to: vanguardngr.com
D5 Creation