OPINION
Nigeria’s Road to Zimbabwe With Money Printing
By Nick Agule
Within the last week a war of words has ensued over the management of the Nigerian economy with Gov Obaseki of Edo State firing the first salvo by accusing the FG of the catastrophic management of economy alleging that the FG is printing money to fund federal allocations.
Nigeria’s Finance Minister Mrs Zainab Ahmed fired back in these words:
“The issue that was raised by the Edo State Governor, for me, is very sad because it is not a fact.
Gov Obaseki returned fire that as an investment banker he stands by his words. This is how he put his rebuttal of the statement issued by the Finance Minister:
“The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed should rally Nigerians to stem the obvious fiscal slide facing our country. Rather than play the Ostrich, we urge the government to take urgent steps to end the current monetary rascality, so as to prevent the prevailing economic challenge from degenerating further. We believe it is imperative to approach the Nigerian project with all sense of responsibility and commitment and not play to the gallery because ultimately, time shall be the judge of us all.”
It became clear that between Gov Obaseki and the Finance Minister, one person was not telling the truth given that their views were diametrically opposed.
All this while as the crossfire raged, the CBN Gov was mute until he was captured on camera issuing threats to Gov Obaseki and other Govs who were bailed out in 2015/16 that recovery action will begin immediately against them if they don’t stop accusing the Govt of printing money! Instructively the CBN Gov did not outrightly deny that the Govt is printing money but did not concede either.
As pressure mounted on the FG specifically on the Finance Minister and the CBN Gov to come clean to Nigerians on what is actually going on, the CBN Gov finally caved in and conceded that Nigeria is printing money in a tweet issued on Friday, 16 April 2021 in the following words:
“The concept of printing of money is about lending money and that is our job…It will be irresponsible for the CBN or any Central Bank or Fed to stand idle and refuse to support its government at a time like this.”
WHAT IS PRINTING OF MONEY
Now that the FG has conceded that they are indeed printing money, let us therefore examine what this means from a layman’s point of view and the impact on our economy.
The CBN prints two types of money:1. Physical money – this is the bank notes and coins we use in buying and selling or saving at home. It’s also called cash.
2. Digital money – this is money in our bank account.Thus you can have N1m with N100k in cash (physical) at home and N900k in your bank account (digital).
The printing of money in dispute here is the digital money not the physical cash. When Central Banks print digital money it is called Quantitative Easing (QE).
WHAT IS QE?
QE is a monetary policy tool that central banks use to inject money directly into the economy. So let us say the FG account at the CBN has a balance of N500 billion deposited by the revenue generation agencies of Govt such as the FIRS, DPR, NNPC, Customs etc. But this money is not enough for Govt to spend so the Govt asks the CBN to print money. The CBN simply credits Govt’s account with say N300 billion thus the balance in the Govt account is now N800 billion which Govt will now spend.
To be clear, there is nothing wrong with using QE. Govts all over the world use QE to jumpstart their economies. The US, UK etc Govts used QE in the 2008 economic crash and even more recently in the pandemic hit economies. So if QE is a known, tested and tried monetary economic policy tool, why was the Govt of Nigeria ashamed to disclose to the citizens that it was using QE? And even when they were exposed by Gov Obaseki, why was the Govt still denying until they were forced to concede?
The plausible answer is that Nigeria was making the wrong use of QE.
There are 2 halves to QE which are printing the money and using the printed money, if you don’t get the balance right then QE instead of helping to jumpstart the economy rather ruins it:1. Printing the money – by crediting the account of Govt at the CBN with money the Govt did not earn. It is just like you own a bank and you have an account with the bank but did not have money to spend, so you just call the MD of the bank and ask him to credit your account with N1 billion and you immediately see an alert of N1 billion and begin to pay your bills! This is the same thing the CBN is doing for the FG! This is one half of QE.
2. The 2nd half of QE is how the money is spent. For QE to be effective, there are only restricted ways the Govt can spend the money on. This is because monies earned by Govt from economic activity is backed up with output. So the oil companies must produce oil for DPR to earn money. Oil must be sold for NNPC to earn money. Imports must be made before customs earn revenue. Companies must pay taxes for FIRS to earn money. All these monies are coming from output based economic activities. The difference with QE money is that it is not backed up with output, Govt just increases money supply by fiat and thus it’s a timebomb and if mishandled it will blow off the economy!
To avoid the QE timebomb from exploding on the economy, traditionally the Govts spend QE money in very restricted ways which include:
a. Buy back bonds – bonds are Govt’s debt instruments used in managing the economy. For instance, if there is high inflation (prices are rising because too much money is chasing too few goods/services), Govt in a bid to reduce the inflation will issue bonds. Those who buy the bonds give Govt money and hold the bonds which attract interest payments from Govt. Thus by Govt mopping money from people’s (individuals and companies) pockets, there is less money to spend and the less money that chases goods/services will result in price drop and thus inflation is contained. The reverse is the case when the economy is down and the Govt wants to boost it. The Govt uses the money from QE to buy back the bonds. So bond holders will surrender the bonds back to Govt and collect their money back. With more money in people’s pockets, they buy more goods/services and this will encourage manufacturers and businesses offering services to produce more to meet up with the demand. The greater output means prices drop as more goods/services are now in the market! The economy is thus brought back to life!
b. Bail out the struggling productive sector of the economy – here the Govt uses the money printed by QE to bail out ailing industries suffering from the downtime in the economy so that with the new cash these industries will fund working capital to bounce back to business and boost their production. A boost in production means more jobs will be created as more factories reopen and service centres return back to life. The economy will then be jumpstarted back to life with increased output and jobs! The US for example used QE to bail out the banks, the auto industry etc during the crash of 2008 and Joe Biden has announced an infrastructure plan of $2 trn are some examples of Govts’ use of QE.
So why was the Nigerian Govt ashamed to admit they were using QE? Does it mean the Finance Minister was not aware of the sources of inflow into the federation account upon which she presides by saying the money was from the FIRS, NNPC, Customs etc and not from QE? Or was she fully aware that the federation account was being funded by QE but set out to deceive Nigerians and pull wool over faces? Either option does not look good on the Finance Minister.
The plausible reasons the Govt was ashamed to admit the use of QE is because while they are printing digital money which is the 1st half of QE, they are totally mismanaging the 2nd half because Govt is neither buying back bonds nor bailing out ailing industries with QE. Instead Govt is sharing the money to the 3 tiers/arms of Govt. And we know that the FG, States & LGs are not using the QE to buy bonds or bail out the ailing industries. The States and LGs are not even paying workers! Huge part of these monies end up being looted!
THE CATASTROPHE OF MISMANAGING QE
Let me illustrate what happens when QE is managed well and when it is mismanaged as follows:1. If QE is used rightly – it is a veritable economic management tool that jumpstarts comatose economies back to life. So let us say our economy produces 1,000 yams and money supply is N100,000, all the money will buy all the yams at N100 per tuber. Now if Govt adopts QE and prints N900,000 so that money supply is now N1 million and Govt uses the money to boost the agricultural sector by clearing the land, buying farm equipment and building processing plants, there will be a sharp rise in output to 20,000 yams. N1m will buy 20,000 yams at N50 per yam so price has crashed (inflation tamed) and jobs created because the workforce that will produce 20,000 yams will be more than the one that produced 1,000 yams! This is the beauty of QE when used for economic growth!
2. However and tragically too, if QE is mismanaged, it spells a death sentence to an economy. Nigeria is mismanaging QE by distributing it to the 3 tiers/arms of Govt. These Govts are neither buying back bonds nor bailing out industries. The money is not committed to infrastructure either. Instead the money is used for consumption with a huge chunk looted into the private pockets of those with access to the treasury. This portends danger to the Nigerian economy because the scenario above is reversed in the case of the Nigerian economy.
Let us say that our economy produces 1,000 yams. Money supply was N100,000. All the money used in buying all the yams, a tuber of yam will cost N100. Let us say that through QE money supply has increased to N1,000,000 without an increase in the quantity of yams produced, it means a tuber of yam will cost N1,000. As Govt continues to print money without commensurate increase in output of goods/services, prices will continue to rise until one day you will need a bag to carry the money to buy a tuber of yam! This is what happened to Robert Mugabe’s Zimbabwe’s currency where at a point one needed 35 million Zim dollars to buy a loaf of bread!!! And the shops were even empty as not goods were being produced! This is where Nigeria is heading if the Govt continues on the trajectory they are on right now of printing money without boosting output. Already the impact of the mismanagement of QE is showing with Nigeria’s annual inflation reported to have climbed to a more than four-year high in March 2021, rising 82 basis points from a month earlier to 18.17%. Notably food inflation rose to 22.95% which is making it increasingly impossible for families to feed their children!!!
SOLUTION TO NIGERIA’S ECONOMY
Constructive criticism is the one that comes with viable suggested solutions. When individuals or organisations are struggling financially, there are two ways open to them to drive out of the economic jam! First is to reduce cost and secondly is to increase revenue. This is like a double dose of vaccine to give Govt a fighting chance against infection of financial troubles. Therefore the following are the top 5 suggested economic management tools that are available to the Nigerian Govt to adopt to jumpstart the economy:1. Reduction in cost of governance – The Nigerian Govt must take immediate action to reduce the cost of governance. The Orosanye Committee which turned in an 800-page report with far-reaching recommendations on how Govt will reduce cost of governance must be immediately given full implementation. The Committee recommended the MDAs that should be scraped, those to be merged and those to become self-funding, thereby freeing funds for the much-needed capital projects across the country. The Committee also recommended the discontinuance of government funding of professional bodies and councils. Govt expenditure on things like sponsorship of pilgrimages must also be stopped immediately. The salaries of legislators, ministers and other top functionaries of Govt must be scaled down as with their convoys and other pecks of office. Govt must implement full e-govt to cut down on costs of travels, printing etc. Efficiencies in procurement activity must be generated to obtain best value for the least cost etc.
2. Taxation of the rich – Nigeria is a country where the billionaires don’t pay taxes. All the market women, okada riders, farmers, artisans etc are made to pay taxes daily. Employees who are captured under PAYE also pay taxes monthly. The Billionaires with private jets are paying little or nothing. The FG at the highest level must summon all the billionaires in Nigeria to a meeting in the Villa and ask them nicely to go and pay their taxes else there will be enforcement action. This step alone which only requires an investment of 30 minutes of the President’s time will shore up Nigeria’s revenue by at least N5 trn!
3. Stop the $1.5 billion PH refinery repair – Govt must stop immediately the planned rehabilitation of the PH refinery with a sum of $1.5 billion. Knowing that Govt projects are never delivered within budget, this rehabilitation may end up costing Nigeria $3-5 billion! The refinery can be sold as scrap for $1 (one dollar) to allow the buyers to bring in $1.5 billion to repair it. Govt must then convert the $1.5 billion into N570 billion (at N380/$) and invest the full money into agriculture in all the 774 LGs in Nigeria. N570 billion is N736 million for each of the 774 LGs in Nigeria. If Govt sinks N736 million into agriculture in every LG in Nigeria, so much food and cash crops will be produced, there will be plenty of jobs for the teeming youths too. Thus the economy will be jumpstarted and begin to grow astronomically as an output based economy and not QE which is like steroids!!!.
4. Power – it is a shame that Nigeria as a nation well-endowed with one of the world’s richest deposits of gas reserves, takes pains to produce the gas and then sets the gas on fire instead of harnessing it for electricity generation. Qatar a country with 2.8 million people is generating 8,500 MW of electricity and Nigeria a country with 200 million people is generating only 4,000 MW of electricity. The minimum electricity generation required to support the Nigerian economy is 100,000 MW!!! Thus the huge power supply gap in Nigeria can never jumpstart the economy no matter the economic policies we put in place and no matter the qualification/experience of the economic managers we appoint. QE will not help an economy that is this abysmally poorly powered with electricity! The FG must immediately read the riot act to the oil companies to stop flaring Nigeria’s gas else they must shut down oil production. Govt must also take immediate steps to fully privatise the power sector to allow for investments to boost power supply and close the electricity gap!
5. Rail – no economy will do well with the poor transport infrastructure that is obtained in Nigeria. The roads are not motorable but most importantly there is no rail transport in Nigeria. There is no reason not to have all the 36 capitals connected by rail today just for a start! The FG must take immediate steps to fully privatise the rail sector to allow investments to build and operate rail transportation to link all the cities, towns and villages in Nigeria. This will be a huge boost to the economy by making the movement of goods and people less cumbersome and far cheaper across the nation. It will also create millions of well paying and sustainable jobs for the teeming population of our unemployed youths.
NIGERIA’S ECONOMY MUST BE SAVED!!!
If the FG follows the suggested solutions, the Nigerian economy will begin to explain astronomical growth and this will be real growth and not steroids which QE is. But if the Govt continues on the trajectory of printing money (QE) without output backed, we will be sure on the road to Zimbabwe and a catastrophic end to our economy. This must be avoided at all costs!!!
By Mukhtar Ya’u Madobi
As Nigeria continues to battle worsening security challenges — ranging from banditry and kidnapping to terrorism, insurgency, and communal violence — citizens across the country are increasingly embracing grassroots security measures and calls for self-defence.
These challenges are not confined to the North. In the South, militancy, piracy, secessionist agitations, cultism, and cybercrimes further complicate the nation’s fragile security landscape. Speaking at the maiden annual lecture of the National Association of the Institute for Security Studies, themed “Mobilising Stakeholders to Curb Insecurity in Nigeria: A Practical Approach,” the Director-General of the State Security Service (SSS), Oluwatosin Ajayi, stressed the need for communities to take greater responsibility for their own security. He cited examples where local populations had historically repelled insurgents and urged communities to work closely with security agencies to counter threats such as terrorism, banditry, and kidnapping.Ajayi noted that it is unrealistic to expect security agencies to protect every citizen across Nigeria’s expansive territory. He argued that communities must serve as the first line of defence, and that empowering them would enhance grassroots resilience, while reducing over-reliance on federal forces.Echoing this position, former Chief of Defence Staff, General TY Danjuma (rtd), recently renewed his longstanding call for Nigerians to rise in self-defence against non-state actors. Reacting to fresh waves of violence in Plateau, Benue, and other states, Danjuma insisted that citizens can no longer afford to remain passive while bandits and terrorists wreak havoc.“The warning I gave years ago remains valid. Nigerians must rise and defend themselves. The government alone cannot protect us,” he said.This message of self-defence has increasingly resonated across vulnerable communities, reflecting the harsh reality of an overstretched security system that leaves millions exposed. The roots of the crisis lie in decades of state neglect, porous borders, weak intelligence systems, and economic exclusion.In the North-West, states such as Zamfara, Katsina, and Kaduna are under the siege of bandits, who raid villages, rustle livestock, extort ransoms, and impose levies. In the North-Central region, particularly Plateau and Benue states, farmer-herder conflicts have morphed into sustained ethno-religious violence. The South-East contends with secessionist violence linked to IPOB/ESN elements, who often target security infrastructure. Meanwhile, the South-West and South-South struggle with cultism, ritual killings, and piracy.One chilling episode was the abduction of more than 280 schoolchildren in Kuriga, Kaduna State, in March 2024. Although the children were eventually rescued, the incident laid bare the glaring weaknesses in Nigeria’s security infrastructure and left the community traumatised.Faced with these realities, several states have begun taking their destinies into their hands. In April, the Kano State Government passed the Security Neighbourhood Watch Law to create a legal framework for community-led security efforts. Katsina has trained local vigilantes through its Community Watch Corps, while in Zamfara, Governor Dauda Lawal launched the Community Protection Guards (CPG), a controversial but welcomed initiative in rural areas long neglected by formal forces.In the North-East, the Civilian Joint Task Force (CJTF) continues to support military efforts against Boko Haram, leveraging local knowledge and swift response capabilities. The Amotekun Corps in the South-West, headquartered in Ondo State, has addressed critical security gaps in the region, earning both criticism and praise. Similarly, the South-East’s Ebube Agu and joint regional outfits in the South-South emerged from the growing public distrust in the federal government’s ability to guarantee safety.However, the growing wave of self-defence and vigilante initiatives raises ethical, legal, and practical concerns. Nigeria’s Firearms Act prohibits civilians from bearing arms without a licence. Without a clear regulatory framework, arming civilians risks escalating violence, enabling political thuggery, and creating new security threats under the guise of protection.These dangers are not hypothetical. In Edo State’s Uromi community, vigilantes wrongfully accused 16 Northern hunters of being kidnappers and burnt them alive. In July 2022, Ebube Agu operatives reportedly killed 14 unarmed wedding guests in Otulu, Imo State. Other vigilante groups in the region have been implicated in extrajudicial killings and abuses. A Daily Trust investigation in April revealed that vigilante groups killed at least 68 people in three months, with many more subjected to torture, harassment, or unlawful detention.These developments have prompted the House of Representatives Committee on Army to call for the regulation, oversight, and training of vigilante groups. The Uromi killings, in particular, triggered national outrage and renewed demands for accountability.Responding to these concerns, Major General Chris Olukolade (rtd), chairman of the Centre for Crisis Communication, acknowledged General Danjuma’s fears but cautioned against unregulated civilian self-defence. He warned that unless communities are engaged within a structured and legal framework, insecurity may only worsen. According to him, civilians should not be armed unless integrated into formal security systems with clear guidelines.Against this backdrop, community policing has emerged as a more sustainable and coordinated alternative. Under the leadership of the Inspector General of Police, pilot schemes have been launched across several states. These involve recruiting and training locals for surveillance, intelligence gathering, and early intervention, followed by their integration into existing police structures.Lagos, Ekiti, and Kano States have all recorded notable progress. In Kano, the Hisbah Corps, initially tasked with moral enforcement, has been reoriented to contribute to broader urban security. In Lagos, the Neighbourhood Safety Corps plays a vital role in gathering intelligence and issuing early warnings.Nonetheless, community policing faces serious limitations. Funding shortfalls, inter-agency rivalries, and a lack of coordination continue to undermine its effectiveness. A major stumbling block is the constitutional contradiction where state governors are designated as chief security officers but lack control over federal police operations within their jurisdictions.Solving Nigeria’s security crisis requires a comprehensive strategy that addresses institutional, legal, and socio-economic issues. First, the constitution must be amended to empower state and community policing structures with defined jurisdictions and robust oversight. Second, vigilante and self-defence groups must be trained, regulated, and integrated into the formal security architecture to avoid becoming a threat themselves. Third, intelligence gathering should begin at the grassroots, where community members are often the first to notice early warning signs. Fourth, addressing the root causes of insecurity — such as unemployment, poverty, and youth disenfranchisement — through investments in education, job creation, and social empowerment is essential. Lastly, traditional and religious leaders must be given formal roles in mediation, peacebuilding, and community-based conflict resolution, given their influence and trust within local populations.Nigeria’s security challenges demand more than rhetoric and reactive responses. While the instinct to defend oneself is natural in the face of government failure, unregulated self-defence is a risky and unsustainable path. The lasting solution lies in creating a decentralised, community-driven security model rooted in legality, ethics, and shared responsibility.As communities across the country face mounting threats, the question is no longer whether to adopt localised security strategies — but how best to coordinate, empower, and regulate them before chaos becomes the norm.Mukhtar Ya’u Madobi is a research fellow at the Centre for Crisis Communication. He can be reached via ymukhtar944@gmail.com.
By Tunde Akanni
It’s been traumatic for my entire family since that video started making the rounds. I sneaked a slight view… It’s our trial. It’s my trial. Oloyede is genuine. He is most sincere. He is modestly so, as well. For us, however, Allah knows best.
I was with a trader in the afternoon of what I considered a dark Wednesday, the 14th of May. “Se bi won ni JAMB o get mo bayi…”. I had to cut in immediately. Which JAMB? “Madam, that’s one person I will vouch, and vouch for…zero tolerance for corruption. Absolutely responsible with a high level of consciousness for the good of others. If certain things went wrong at JAMB, I agree it’s his responsibility to carry all pleasant and other burdens but just know that the bad side of the operations may as well be sabotage. I have absolute trust in that man. Ask my own colleagues about me, but Oloyede is my own hero, somebody I have known for more than 40 years…”This is by no means a reductionist disposition to the tragedy induced by the so-called computer glitch. May the Almighty God in His infinite mercy console the parents of the candidate reported to have committed suicide. May God strengthen them to survive this gloomy phase of their lives and sustain them to reap bountiful compensation that will endure in their lives. It’s hard, so hard to pull tragedies of this magnitude. I personally feel for these parents.The said computer glitch, may we never fall victim to it. Those who work for big organisations requiring a large layout of ICT operations know what I’m talking about. Rather than being ‘solutional’, IT facilities can be unimaginably problematic sometimes, yet indispensable in this civilisational dispensation. This is not doubting deliberate sabotage, as may have happened in the case of JAMB. I’ve been part of Oloyede’s JAMB journey to attest to his commitment to offer his best for the otherwise sinking board.Far from being cosmetically exhibitionist, the Oloyede-led JAMB team, led by the Education minister, Tunji Alausa, went round the critical facilities of JAMB during the just concluded examination. Alausa saw, firsthand, like never before elsewhere in this country, how far JAMB had gone in its strive for transparency and the real-time monitoring of the conduct of examinations nationwide. Alausa, beyond being in awe, sought to make the JAMB effect spread immediately to other examination bodies.No be dem say, same day, the WAEC team came to JAMB and made it into the situation room, which was my own duty post. The NECO team followed suit afterwards, both duly led around by the sturdy lead IT consultant who’s been reliably there from Oloyede’s assumption of duty, Damilola Bamiro. Far richer, given that they charge more for their exams, the duo of WAEC and NECO were suddenly mandated to understudy the examination sector leader in Africa that JAMB has become over time.The staff of both WAEC and NECO suddenly had to undertake a professional excursion led through all the real time monitoring screens and other digital facilities. It was obvious they marvelled at what they saw, revealing a functional leader-subordinate synergy manifest with trendy output that the world can see and learn from.But that may even seem like the tip of the iceberg of the output of the hard work and commitment of the nation’s foremost icon of integrity in public service. A series of far more seemingly serious strides had been accomplished by Oloyede at JAMB. As a focused scholar, he keeps ensuring that every bit of the experience of the Board is treasured as worthy data to guide future actions and even subjects for further research.Not even the agencies dedicated to emergency matters in Nigeria could have been as prompt as the Oloyede management on this ugly glitch saga. Once the complainants began ventilating into the public space, JAMB rose to the challenge without any predictably traditional arrogant stance of government is always right. I was aware that a particularly strident public critic and a former students’ leader at Obafemi Awolowo University, Adeola Soetan commended the spokesperson for JAMB for the excellent handling of public complaints.Promptly, an independent team of investigators was set up to unravel the mystery leading to the rather depressing situation that now confronts us. The team, drawn from assorted but technically relevant constituencies, has found out that no fewer than 165 centres of over 800 examination centres nationwide were affected.Obviously well prepared for whatever the outcome may turn out to be, he braced up to the challenge to embrace the surrender value to tell it to the world as it is. This trial is for all of us who believe and trust Oloyede. I am in this group. So much so that his public cry infected me…It was a patriot’s cry for his beloved country. Like me, a former Law don at LASU, Dr Kilani wasn’t any less affected as demonstrated in a quick note to me: “I write to associate myself with the pain, sorrow and emotion of our own Professor Oloyede. I could not hold my tears seeing him cry. May Almighty Allah see him through. May we all not be put to shame…”But then came a soothing message from Gbade Osunsoko, my cousin: “…He will come out of this much stronger because Nigerians will trust him far better than a number of our leaders.. A man that makes mistakes happens under him and takes responsibility – it’s a big deal in Nigeria.”With Oloyede, young Nigerians with challenges regarding sight are no longer left to moan their fate endlessly, with adequate provision for their inclusion in the UTME. How many of our public facilities are this inclusion conscious as stipulated by SDGs? How come a legacy built through almost a decade at the very best cost ever possible will be made to crumble when the game changer leader remains ever modest? JAMB has steadily risen through thick and thin to accomplish its tasks to the admiration of stakeholders, nationally and internationally, under Oloyede. Both NNPC and the Nigeria Police, being beneficiaries, can attest to the current competence of JAMB. How many other numerous stakeholders nationwide never deemed to have any relevance to JAMB before Oloyede but have since become critical, if not indispensable players?But why does this sudden saddening encounter threaten our joy of service without blemish? Why this unforeseen truncation of a good story, so intentional, coming from Africa? Whodunnit? Surely the truth shall come out for the world to perceive and assess and get to appreciate the efforts and the quantum of commitment appropriated to the JAMB excellence project driven by Oloyede.One cannot but be deeply concerned. Before the very eyes of a few of us carefully selected to give support from our respective professional perspectives from the very beginning, Professor Oloyede’s concern for genuine growth and development was real. It is still real and increasingly so, as a matter of fact. Indeed, inimitable. It shall be well.Tunde Akanni is a professor of Journalism and Development Communications at the Lagos State University, LASU. Follow him on X:@AkintundeAkanni
By Kator Ifyalem
Democracy, often hailed as the cornerstone of modern governance, is a system that empowers citizens to participate in the decision-making processes that shape their lives. However, the mere existence of elections is not enough to ensure a fair, just, and prosperous society.
Without robust institutions, the rule of law, and ingrained values, democracy can become a hollow shell, susceptible to corruption, manipulation, and eventual collapse. At its core, democracy is built on the principle that power resides with the people. This power is exercised through fair elections, where citizens choose representatives to govern on their behalf. The effectiveness of this system relies heavily on the strength of supporting institutions, adherence to the rule of law, and shared values that guide societal behaviour.Institutions serve as the backbone of a democratic society, translating the will of the people into action. These include governmental bodies such as the legislature, executive, and judiciary, as well as independent organizations like electoral commissions, anti-corruption agencies, and human rights commissions. These institutions provide checks and balances, ensuring that no single entity or individual can accumulate too much power. They create a framework for accountability, transparency, and effective governance.An independent judiciary is crucial for upholding the constitution and protecting individual rights. Without it, laws can be manipulated or ignored by those in power, leading to tyranny. Similarly, a free and independent media acts as a watchdog, informing citizens and holding those in power accountable. When media institutions are weakened or controlled by vested interests, the flow of information is compromised, and citizens are unable to make informed decisions.The rule of law is another critical component of a functioning democracy. It ensures that all citizens, regardless of their status or position, are subject to the same laws and legal processes. This principle is fundamental to creating a fair and just society where everyone’s rights are protected. A robust legal framework, consistently and fairly enforced, provides the predictability and security necessary for social and economic development. It protects property rights, enforces contracts, and creates an environment conducive to investment and growth.Moreover, the rule of law is essential for protecting minority rights and preventing the tyranny of the majority. In a true democracy, the rights of all citizens must be respected, even if they are not part of the ruling majority. This protection is enshrined in laws and enforced through effective legal institutions.Values form the third pillar of an effective democracy. These shared beliefs and principles guide societal behaviour and inform policy-making. Democratic values include respect for human rights, tolerance of diversity, commitment to justice, and belief in the equality of all citizens. When these values are deeply ingrained, they act as a safeguard against authoritarian tendencies and help preserve the integrity of democratic institutions.For instance, a healthy democracy can be likened to a three-legged stool, where institutions, the rule of law, and democratic values form the legs. Just as a stool cannot stand stably without all three legs being strong and balanced, a democracy cannot function effectively if any of these elements is weak or missing. In Nigeria’s case, we’ve seen how weaknesses in one area, such as institutional challenges in election management, can put stress on the other legs, requiring the judiciary (rule of law) and civil society (democratic values) to bear more weight to maintain stability.Education plays a crucial role in instilling these values. A well-informed citizenry, aware of their rights and responsibilities, is better equipped to participate meaningfully in the democratic process. Civic education programs that teach the principles of democracy, the importance of institutions, and the value of the rule of law are essential for creating engaged and responsible citizens.The interplay between institutions, the rule of law, and values creates a self-reinforcing cycle that strengthens democracy. However, this cycle can also work in reverse. Weak institutions often lead to a breakdown in the rule of law, eroding democratic values and further weakening the system. This negative spiral will ultimately lead to the collapse of governance, even if the outward trappings of democracy remain.To prevent this decline, concerted effort is required on multiple fronts. Institutional capacity must be built and maintained through adequate funding, training, and support. The rule of law must be consistently enforced, with mechanisms in place to address corruption and abuse of power. This requires not only strong legal frameworks but also a commitment to their implementation.International cooperation also plays a role in strengthening democracy. Countries learn from each other’s experiences, share best practices, and provide support for development. However, it’s crucial to recognize that democracy cannot be imposed from outside; it must be nurtured from within.True democracy requires more than just the act of voting; it demands a comprehensive system of governance that respects the rights of all citizens, upholds justice, and promotes the common good. Strengthening these fundamental pillars (institutions, the rule of law, and values), is crucial in building more resilient, effective, and truly representative democracies that serve the needs of all citizens and contribute to global stability and prosperity. Where does Nigeria as a nation stand on this scale?
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DEFENCE2 hours ago
Police Nab 5 Suspected Cultists, Recover Firearms in A’Ibom
ShareThe Police Command in Akwa Ibom says it has arrested five suspected cultists and recovered firearms at Ibesikpo Asutan area...
General News2 hours ago
Media Practitioners Warn Against Dangers of Disinformation
Share Dr Henry Nzekwu, the founder of Bridge Radio in Delta, has called for “peace journalism” that balances hope with honest,...
Oil & Gas2 hours ago
NNPC Ltd. Disclaims Fake Financial Scheme
ShareThe Nigerian National Petroleum Company Limited (NNPC Ltd.) has disowned a fake AI-generated video circulating on social media featuring a...
FEATURES2 hours ago
Tinubu’s 2-Year Security Scorecard: Gains, Pains and Future Prospects
ShareAs President Bola Tinubu marks his second year in office, the question on many Nigerians’ minds is: has the administration’s...
NEWS6 hours ago
NAFDAC Warns Water Producers on Compliance
ShareThe National Agency for Food and Drug Administration and Control (NAFDAC) on Wednesday warned producers to strictly follow hygiene standards...
NEWS6 hours ago
NDA Commandant Seeks Emir of Zazzau’s Support in Training Officers
ShareThe Commandant of the Nigerian Defence Academy (NDA), Maj.-Gen. Abdul Ibrahim, has sought for the royal blessings and support from...
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