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When the Bell Tolls on Nigerian Economy
By Mahmud Mustapha
In the past few weeks, alarm bells have been ringing about the danger facing the Nigerian economy. These alarm bells cannot be said to be frivolous or borne out of partisan inclinations because they are coming from tested economists and those who know about how well-run economies look like.
The most recent is by the Emir of Kano, Lamido Sanusi Lamido, a renowned banker who rose to become Governor of the Central Bank of Nigeria.
Speaking at a Workshop on National Treasury in Abuja, the traditional ruler and economist unequivocally said that the country was heading towards bankruptcy if the Buhari administration failed to stop fuel and electricity subsidy.In the same vein, the respected Invest Africa magazine has also drawn attention to Sanusi’s warning about Nigeria’s imminent bankruptcy, even when some people said he had denied the statement. Sanusi is not the type of man who denies statements credited to him. Even if he denied it, it should be noted that these concerns are no fluke as the high level of borrowing and debt servicing embarked upon by the Buhari administration should be a source of great worry about the future and health of the nations’ economy in any place where a genuine democracy is in place. The fact that Buhari’s pseudo-democratic government has conquered other organs of government which should normally be independent as provided by the constitution, gives cause for deep concern.
The way things stand now in Nigeria, a silent fear has gripped majority of Nigerian intellectuals, technocrats and political leaders that they might come under the hidden monitoring camera of the regime if they dare say the truth about the Nigerian condition.
The economic condition of the majority of Nigerians is currently very bad. Statistics from reputable foreign economic monitoring bodies like the Austria-based World Poverty Clock has it that a whopping 93.8 million Nigerians, as at June 2019, suffer from extreme poverty and that about six Nigerians fall into damning poverty every six minutes. On its own part, the National Bureau of Statistics (NBS) puts the country’s unemployment rate at 23.1 per cent, under employment at 20.21 per cent and youth unemployment at 55.4 per cent.
The above indices show that many Nigerians notably the young and educated population is battling with poverty. It was not long that Nigeria became the laughing stock of the World when in 2018, the World Bank and other multilateral institutions declared the country as the World poverty capital thus sounding another alarm bell for Nigeria’s political leaders.
It should be stated that these poverty indices became prevalent under the administration of President Buhari who took more than six months to put a cabinet in place after he emerged victorious in the 2015 elections. President Buhari’s lack of foresight and passable knowledge of economic issues, in the view of many experts and observers was the main reason for the recession that hit Nigeria in 2016, the first time since independence that the nation’s economy would be in such a mess. Granted that the excesses of the Goodluck Jonathan administration contributed to the economic difficulties the country faced after Buhari took over in 2015, the poor policy choices and outright lack of choice under Buhari’s watch, made economic recession and creeping poverty inevitable.
It was in this condition of recession hangover, continuing corruption in the government and the continuing burden of fuel subsidy that the 2019 polls came. Faced with enormous hardship under Buhari, the majority of the Nigerian people reasoned that voting out the lackluster administration of President Buhari was the way to put a stop to the relentless march of poverty and social dislocation in the country.
The APC and Buhari claimed victory in that election against the postulation of many analysts before the polls. The management of the Independent National Electoral Commission (INEC) whose uncertain and indecisive public posture on issues arising from the collation of results at the Presidential Election Tribunal also sided with Buhari and his party’s’ claim. However the INEC’s shifty position on the Server issue has convinced many Nigerians that much still needs to be straightened out about the conduct of that election and the declaration of a winner. The final report of European Union election monitors on the conduct and outcome and the nationwide violence that attended the election proper, points to the fact that the opposition Peoples Democratic Party (PDP), and its presidential candidate, Atiku Abubakar have a strong and genuine case before the Judiciary. It is the view of many Nigerians that Atiku Abubakar, who promised to make Nigeria work again by providing millions of jobs and providing an enabling environment for entrepreneurship to blossom won the 2019 polls and that the judiciary has a duty to tell the world so!
The issue is that having used widespread violence and the coercive instruments of the state to hijack the 2019 election outcome, it is now a task for the nation’s judiciary, to show that it is modern, fearless and independent to reverse the outcome of that election. The judiciary owes this duty to Nigerians not only for the sake of restoring the hope of Nigerians in democracy but rescuing the nation’s economy from the hands of a man who clearly does not know how a modern economy should be run.
The poor economic history of Nigeria under Buhari’s watch, characterized by growing poverty of the population, is the result of poor leadership. President Buhari clearly lacks the knowledge, temperament and leadership to guide a team that can make an economy flourish and the people enjoy a good life.
It was for this reason that when Buhari told Nigerians at the 2019 Democracy Day celebrations that his All Progressives Party (APC) administration can raise 100 million Nigerians from poverty in a period of ten years, those who have observed him since 2015, labelled the statement as hollow. Most Nigerians hold the view that the Buhari persona, his leadership style and his pervasive nepotism and policy of exclusion, means that the president and his party, the APC can only descend people into poverty, not to lift them.
Among the reasons why the growing poverty in Nigeria persists, and might continue despite Buhari’s good intentions are first, the poor and indecisive leadership of Buhari. Second, is the nationwide security problem, violence and killings which has dislocated many Nigerians. Third, is the problem which herdsmen pose to the farming population in the country that has uprooted millions of farmers from their farmlands mostly in the Northern part of the country. Food shortages are more than likely all through Buhari’s four year tenure till 2023, if the judiciary does not rescue the nation from his vice grip by declaring the rightful winner of the 2019 elections. President Buhari has shown that he lacks the will to deal with the problem of insecurity, more so when his military commanders blame everyone except themselves for the security problems in the country including Boko Haram insurgency in the North east region of the country. The insecurity issue has emerged as a disincentive to domestic and foreign investment. Four, the country’s huge population is another factor. With a population today, at 200 million and projected to rise to 400 million around 2050, the nation will be in a messy situation if it does not solve its leadership, social, infrastructural, educational and health delivery problems which are becoming critical by the day. President Buhari is not the type of man to put in place and implement a credible and effective population policy to help ensure that the country can manage its population.
Part of the solution to the poverty problem is the practice of true federalism under which the Federal Government, the States and local government will be responsible partners with each level of government working hard to eradicate poverty among the people under its care. Unfortunately, President Buhari does not believe in true Federalism compared to the opposition candidate in the 2019 polls, Atiku Abubakar who is a disciple of Federalism and who has taken pains to lay out the ways and means of its implementation to free the creative and productive energies of the constituent parts of the country.
Finally, Nigeria according to commentators and agencies who are conversant with the Nigerian economy, is in dire straits. The onus is on all Nigerians with the influence to right the wrongs to ensure that the nation is placed in credible hands.
*Mahmoud Mustapha, a public affairs analyst, wrote from Bauchi.
By Tochukwu Jimo Obi
Sixty six years after independence, Nigeria should be asking itself a question that can no longer be postponed: what exactly has become of the great promise of our nation? A country blessed with enormous human and natural resources should not, at this stage of its journey, still be struggling with problems that ought to have become distant memories.
As we mark 66 years of independence, this should be more than another occasion for colourful ceremonies, patriotic speeches and celebrations. It is a time for sober reflection as a people, to examine where we are, where we ought to be and, most importantly, how best to move Nigeria forward.Undoubtedly, Nigeria is not where it used to be. There have been significant developments in different sectors of the economy and society, and successive administrations have introduced policies and programmes aimed at addressing the country’s challenges. However, we must also acknowledge that we are certainly not where we ought to be, considering the enormous human and natural resources available to us. A nation blessed with abundant natural resources, a large youthful population and considerable human capital should be able to provide a higher standard of living for its citizens.
At 66, Nigeria should have no reason to still be battling with inadequate power supply, dilapidated roads, massive unemployment and widespread hunger. These are challenges that have persisted for decades, despite the huge resources committed to addressing them. While some of our past and present leaders may have done, or may still be doing, their best, the reality remains that their efforts alone have not been enough to solve the numerous problems bedevilling the nation. What Nigeria requires is sustained commitment, effective institutions, accountability and policies that go beyond individual administrations.
Corruption and insecurity also continue to pose serious challenges to national development. Resources that should be channelled towards infrastructure, education, healthcare, job creation and other essential services can be undermined by corruption and poor accountability. Similarly, insecurity discourages investment, disrupts economic activities and threatens the lives and livelihoods of citizens. We cannot continue like this as a nation. There must be a collective determination to strengthen institutions, uphold the rule of law and confront the factors that continue to undermine national development.
Unfortunately, the people themselves appear to have become accustomed to many of these perennial problems. This has contributed to a situation where some citizens fail to demand accountability from leaders or make effective use of their democratic power during elections. Democracy gives citizens the opportunity to choose their representatives and to replace those whose performance does not meet their expectations. Elections should therefore be about competence, integrity, policies and the ability to serve the public interest, rather than personal loyalty or temporary benefits.
Sycophancy has also become increasingly visible in our political space. Some people praise leaders excessively for personal gain, defend actions they would ordinarily condemn and, in some cases, sell their votes during elections, only to complain about bad leadership afterwards. Citizens must understand that leadership and followership are interconnected. When voters trade their electoral power for immediate personal benefits, they may be contributing to a system that makes it more difficult to demand responsible governance later. The ballot should be treated as an important instrument for shaping the future of the country.
As Nigeria marks this 66th anniversary, our leaders at all levels must put the interest of the nation at the centre of their decisions and actions. Religious, political and ethnic considerations should not be allowed to take precedence over the collective interest of Nigeria. Diversity should be a source of strength rather than a reason for division. Those entrusted with public office must remember that political positions are temporary, while the consequences of decisions taken in office can affect generations yet unborn.
The people also have an important role to play in moving Nigeria forward. Citizens must obey the law, reject corruption, participate responsibly in elections, demand accountability and contribute positively to their communities. Professionals must give their best in their respective fields, young people must be encouraged to pursue productive opportunities, and the private sector must continue to contribute to economic development. Nation building cannot be left entirely to government. Every Nigerian has a responsibility to contribute to the Nigeria we desire.
At 66, the question, therefore, is not simply which way Nigeria, but what kind of Nigeria do we want to leave for the next generation? The answer lies in our collective willingness to change the things that have held us back, strengthen the institutions that sustain democracy and development, and place national interest above personal, political, religious and ethnic considerations. Nigeria has the resources, talent and potential to achieve greatness. What is required is the collective will to translate that potential into reality. As we celebrate 66 years of independence, let us renew our commitment to building a peaceful, prosperous and united nation. Nigeria shall be great again.
Tochukwu Jimo Obi, Obosi Anambra state.
By Tambaya Julius, Abuja
The Nigeria Customs Service (NCS) has concluded the final phase of its 2025 recruitment exercise, with nearly 3,000 shortlisted candidates undergoing screening in an exercise the Service said recorded improved coordination and efficiency.
The two-week exercise, held at the Training and Doctrine Command (TRADOC), Gwagwalada, Abuja, commenced on September 7 and ended on September 19, 2026.
Candidates shortlisted for the Assistant Superintendent of Customs II (ASCII), Inspectorate and Customs Assistant cadres underwent documentation, physical fitness assessments and medical screening as part of the final stages of the recruitment process.
The exercise was conducted in batches, a measure introduced by the Service to reduce congestion and ensure smoother movement of candidates through the various screening points.
Speaking on the exercise, the Assistant Comptroller-General of Customs in charge of Human Resource Development, Frank Onyeka, said the Service had addressed challenges identified during the earlier phase of the recruitment process.
According to him, measures were introduced to improve coordination and reduce congestion at the screening centres.
“We have put measures in place to reduce congestion and ensure a smoother process this week. The gaps identified last week have been addressed, and we do not expect them to recur this week,” Onyeka said.
He urged candidates to remain disciplined and comply with the procedures established for the exercise.
The Service also introduced personalised screening forms as part of efforts to strengthen verification and minimise discrepancies in candidates’ records.
The Deputy Comptroller of Customs and member of the recruitment coordinating team, Adamu Musa, said each shortlisted candidate was provided with a form containing personal information and details required for the various stages of the screening.
He said the approach represented a departure from the previous system in which candidates received forms at the screening venue.
“Any candidate that has been shortlisted has a form designed especially for him, unlike in the past where you come, they issue you a form, and then some people along the way go and even change some of the records,” Musa explained.
According to him, the forms contained candidates’ names and other details covering sports, medical assessment, documentation and related requirements.
“So, once the candidate comes, you just verify what you already have from the system,” he added.
Musa said the new arrangement had made it easier for officials to authenticate candidates’ information while reducing opportunities for alterations and discrepancies.
The recruitment team also assessed candidates against established requirements, including age, physical fitness and drug screening.
Musa disclosed that candidates who test positive for hard drugs, exceed the stipulated age requirement or are found to have physical conditions that could affect their ability to perform their duties may be disqualified, subject to the final decision of the Service’s management.
He also stressed the importance of continuous recruitment and manpower development, noting that the expanding responsibilities of the Customs Service require personnel capable of responding to emerging challenges.
According to him, a well-trained workforce remains important to the Service’s responsibilities in national security, border protection, revenue collection and trade facilitation.
The Service also warned candidates and members of the public against relying on unverified information about the recruitment exercise.
Musa urged applicants to obtain recruitment updates only through the official communication channels of the Nigeria Customs Service, including its official website and verified social media platforms.
He warned that fraudsters could exploit the recruitment process by circulating fake announcements, misleading applicants or making unauthorised demands.
The warning comes as the Service moves towards the next stages of the recruitment process following the completion of the final screening exercise.
With the introduction of personalised forms, batch screening and tighter verification procedures, the NCS said it had strengthened the process to improve efficiency, reduce congestion and protect the integrity of the recruitment exercise.
Post Recapitulation: NAICOM Holds First Quarterly Staff Meeting
By Tony Obiechina, Abuja
The Commissioner for Insurance, Olusegun Ayo Omosehin, at the weekend presided over the Quarterly Staff General Meeting of the National Insurance Commission (NAICOM), the first such gathering since the successful conclusion of the insurance industry’s recapitalization exercise.
The meeting brought together management and staff to review the achievements recorded during the recapitalization programme and to align on the Commission’s strategic direction for the period ahead.
Participants also used the occasion to discuss issues bordering on staff welfare, institutional effectiveness, and the overall growth of the organization.
In their deliberations, the Commission reaffirmed its commitment to stronger regulation and supervision of the insurance sector, continuous capacity building for staff, and sustained operational excellence.
NAICOM said in a statement on Saturday that the resolutions reached at the meeting would help drive the emergence of a more resilient, competitive, and trusted insurance industry in the country.
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