OPINION
Herbert Wigwe: The Things Yet Unsaid
By Dakuku Peterside
Clean-shaven, suave, upwardly mobile, and incurably optimistic, Herbert Onyewumbu Wigwe (HOW) was one of the most recognisable figures in the banking space and corporate Nigeria. His official biography could only be written by him.
But I hope his example can inspire and influence us. Accurately describing Herbert in one word can be compared to explaining the mystery of centuries in a few words or a wild goose chase. It is a nuanced and complex process.He was an extraordinary businessman who died alongside his wife and son in the United States of America under exceptional circumstances. His tragic and sudden departure reverberated beyond our shores.
But who was Herbert Wigwe? I can only answer this question from the narrow prism of my friendship and many encounters with him.Herbert and I were members of the same local church assembly, and I witnessed his dedication to spirituality, good works, and commitment to church growth. It is easy to explain this because of his solid Christian foundation. Herbert’s father, Elder Shyngle Wigwe, is a pastor in the Redeemed Christian Church of God. Herbert was a man of prayers, which he complemented with a ruthless work ethic. He attributed all his successes to God’s blessings.
Both of us are from Rivers State, and we had many sessions on how best to fix the politics of Rivers and, by extension, improve the State’s development trajectory. Herbert was utterly detached from politics but had deep insight into political manoeuvrings. We debated the affairs of Rivers State and the country, and he baffled me with the precision with which he predicted the outcome of political contests. He would quickly tell you that his political party is Nigeria and no other.
His passion for Nigeria was simply unwavering. Only a few persons can match his faith in Nigeria. He firmly believed that he would impact society by using businesses to provide solutions to society’s needs and create wealth that would touch the lives of many. He was unapologetically capitalist, in the proper sense of it, and he lived his life using capital to solve many of societies’ needs, such as creating employment, paying taxes, providing lots of charity, and investing heavily in world-class university education. He used capital as an instrument for socio-cultural upliftment across Africa.
Herbert was a man of bold dreams and obsessed with excellence, while making room for unavoidable mistakes. Herbert never gave up on any bold dream, no matter the odds. He rode the waves of challenges and was filled with the spirit of hard work, dedication, and strokes of ingenuity. He had bold dreams in all ramifications, and this was self-evident.
First, as a young banker, he teamed up with his friend and partner to acquire “a distressed bank”, rated number 89 then, and turn it around in two decades to become one of the top five banks, with an assets base of over N20.9 trillion. This is phenomenal. Herbert, as CEO, set out to build an Access Bank with the vision of becoming the gateway to Africa, and the world’s most respected African bank. With presence in more than 13 African countries, plus footprints in other continents, Access Bank was working towards realising this vision. Second, Wigwe University, which Herbert personally referred to as the “Future Harvard University of Africa,” was another extraordinary, bold dream. He set out to build the best University in Africa, investing $500 million in the initial set-up. You do not need further testament that he was a man of bold dreams.
An entrepreneur extraordinaire, his mystique was his ability to sniff out opportunities where others saw none, multiplied by the fact that he was one of the most persistent persons I know when going after opportunities. He mentored many budding entrepreneurs, top managers, and top academics in entrepreneurship. Apart from his well-known flagship institution, Access Bank, he was active in other financial services concerns, construction, oil and gas, aviation, film, and music, and, most recently, the education sector. He made a star success of all his multiple business pursuits.
Herbert’s hidden strength was his ability to connect with people of all classes and cadres, accompanied by a related instinct to simplify complex things in the most basic way. His mastery of Rivers’ version of Pidgin English could only equal his fluency in Queens’ English. He was among the few successful people referred to as the “original old Port Harcourt boy.” Another strength of his was his courageous, daring, patient, and persistent nature, which added to his relentless ambition to accomplish exceptional things. This attracted to him friends and foes in equal measure.
His philanthropic work in the Herbert Wigwe Foundation, which he founded in 2016, focused on youth empowerment, health, arts, and education. This focus on youth development was central to his mentoring, given his strong belief in the importance of the youth in the development of Nigeria and Africa. He was an art enthusiast and contributed to the development of art in the country. As the art connoisseur he was, his collection reflected his passion for excellence, diversity, and social purpose. The HOW foundation extensively supported many healthcare projects for the downtrodden among us. His charity works were unique because he loathed publicity about it.
Herbert’s enduring legacy is the power of vision, bold dreams, courage, and determination to pursue it and rally people to accomplish the objective. This is what we need to improve in our public space. History has shown that bold dreams have the power to transform societies. He was exceptionally enterprising and entrepreneurial.
Listening to Herbert talk about his vision was to find yourself in the oasis of inspiration. He genuinely believed that there was nothing you fixed your mind on that you could not accomplish. He had bold dreams for the banking sector, tertiary education, the oil and gas industry and most importantly, society.
What lessons can we learn from him? Herbert epitomised a life of passion, dedication, resilience, and boldness in achieving grand personal and societal visions. He was bold in setting out great goals and pursuing them relentlessly until he reached them. He proves that an unexamined life is not worth living. To achieve greatness and impact on society maximally, one must be purposeful, bold, and patient. Herbert’s hidden strengths prepared him for an eventful life – one he lived on his terms. His ability to connect with people, courage, daring attitude, ambition, and excellent work ethic were the ingredients of his success and they must be emulated. Peter Drucker posits, “The best way to predict the future is to create it.” Herbert created his future and lived it to the full of those he loved.
For our budding entrepreneurs, Herbert left a legacy. He proved the axiomatic expression true: “Entrepreneurship is living a few years of your life like most people won’t, so that you can spend the rest of your life like most people can’t.” He made the needed sacrifices at the start of his entrepreneurship and built capital enough to be reckoned among his contemporaries. Steve Jobs posits that “your work will fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work.”
Herbert did outstanding work; the only way to do great work is to love what you do. Success is not just a product of luck. Hard work, knowledge, skills, and integrity underpin it. Thomas Jefferson argued, “The harder I work, the more luck I seem to have.” Herbert worked hard enough to be lucky. He had an eye for greatness. It is little wonder he set great goals for himself.
John Rockefeller advised that one should not be “afraid to give up the good to go for the great.” Both in banking and establishing a University, Herbert went for greatness and achieved it. We should do the same. As a business and community leader, Herbert understood that the function of leadership is to produce more leaders, not more followers. He created leaders of industries and global advocates of responsible capitalism in the 21st century.
My friend and brother Herbert lived like a candle in the wind. His star burned so brightly but ended so shortly. Greatness in life is not measured in how long one lives but in the impact of one’s life on society. Herbert lived, and he conquered. Adieu, my great visioner!Peterside is a policy and leadership expert.
OPINION
The David Mark and Atiku Abubakar ADC Protest: A Recycling of Bourgeoisie Metamorphosis
By Uji Wilfred
Right from the foundations of the Independence struggle that led to self-rule, political party formations in Nigeria were crafted majorly for the capture of political power through periodic elections.
Political Parties never had ideological foundations that defined the boundaries of political recruitment and participation.
Political parties in their formation, leadership structure and ownership, belonged more to the ruling oligarchs than the people or the masses.In the First Republic, political parties had little ideological bent, framed along regional and ethnic sentiments, but little of rallying the entire nation along in a unified polity.
In the general elections of 1954 – 1956, each of the ruling political party, the Northern People’s Congress, the Action Group and the National Council of Nigerian Citizens emerged as regional parties in terms of the demographic voting pattern as well as the control of political seats.The First Republic suffered from a contradiction of centripetal and centrifugal forces within the framework of the tripartite system which eventually led to the collapse of that republic.
Political parties as well as the leadership recruitment reflected a regional and ethnic bias more than the need for the national integration of Nigeria.
Decamping across political lines, irrespective of ideological leanings, were the basic norms of the First Republic with political parties splitting out from the major political party. Formation of new political parties to fragment the dominant hold of ruling political parties were common political vices of the political class at that time. For example, Chief Akintola, despite the ideological soundness of the Action Group, splitted up the party with the formation of a new political party.
Chief Akintola’s desire was fired more by ambition than the issues of ideology and national interest.
In Northern Nigeria, the ruling Northern People’s Congress waged a war of suppression and dominance against other minority political parties with strong ideological bent that inspired minority ethnic nationalism.
The NPC through its slogan of One North, One Destiny, suppressed minority political parties such as the United Middle Belt Congress led by Joseph Tarkaa.
The point is that Nigeria from her foundations inherited a political culture where political parties have weak ideological roots as well as party and leadership recruitment.
Since 1999, Nigeria has witnessed the recycling of bourgeoisie Political Party Formation and leadership recruitment through a process of metamorphosis that defiles ideological lines and national interest.
Political participation and leadership recruitment has been centered on the urgent need to capture power at the center using political parties owned by a few powerful oligarchs.
The People’s Democratic Party in its formation and foundation was a fraternity of past and serving military generals and their civilian equivalent.
The PDP since its inception has been led by past military officers like David Mark and Atiku Abubakar, the civilian equivalent of the military.
The dream of the PDP led by these retired military generals under the leadership of former President Olusegun Obasanjo was the enthronement of Africa’s biggest political party that was to last for a century.
As good as the dream of the party was, the PDP, like the experience of the First and Second Republics lacked deep ideological roots that defined the boundaries of political recruitment and participation.
The triumph of the People’s Democratic Party forced the rival All People’s Party and the Action Congress of Nigeria into a state of collapse and submission leading up to the bourgeoisie metamorphosis that resulted to the formation of the All Progressive Congress on the eve of 2015 with the sole objective to unseat President Good luck Jonathan.
The APC was a metamorphosis and amalgamation of opposition parties including some dissenting faction of the PDP to reclaim the so called birth right of the far right North in Nigeria to produce the President of Nigeria.
Political recruitment and leadership struggle in Nigeria has never been defined by ideological needs to salvage or emancipate Nigeria as a nation. Political struggle has always been a recycling of that section of the bourgeoisie, through a process of metamorphosis, whose objective is to capture political power at the center.
The present protest and political struggle by the African Democratic Congress, the faction led by David Mark and Atiku Abubakar, is a recycling of bourgeoisie metamorphosis not too different from the experience of 2015.
At best, the David Mark and Atiku Abubakar led protest represents that desperate struggle entrenched in the thinking of the Far Right of Far Northern Nigeria, that political leadership resides in the ancestral birth right of the aristocratic ruling political class of the North.
David Mark and Atiku Abubakar perhaps are suffering from a dementia that has made them forget that they were the agents that destroyed the foundations of democracy in Nigeria through the sacking of former President Good luck Jonathan of the People’s Democratic Party.
These men formed the All Progressive Congress and wrestled power from a democratic government exploiting the dynamics of national security and developmental challenges.
In 2015, Nigerians believed their opinions and through the ballot removed Good luck Jonathan.
However, since then, has Nigeria fared better under the APC that was enthroned by oligarchs leading in the present protest under the auspices of the ADC.
Perhaps, David Mark and Atiku Abubakar may assume that Nigeria suffers from a collective dementia that has forgotten the past so soon.
There is an adage that says, he who comes to justice and equity must come with clean hands. The same forces that enthroned bad governance in Nigeria factored in the APC, through a metamorphosis, want to rebirth another Nigeria through the ADC.
In ideological terms, this does not make sense, the ADC Protest is the same old thing of old wine in a new wine bottle.
If Nigeria must experience a change, let it come through some revolutionary medium that will not exploit the people’s trust and betray them once in power.
Over the past decades, the betrayal of public trust, exploiting the innocence of the people, perhaps the naivety of the people, is what we have seen and experienced through the circles of bourgeoisie metamorphosis and political leadership recruitment.
OPINION
Where the Politicians Got it Wrong
By Raphael Atuu
Benue State, fondly referred to as the “Food Basket of the Nation,” was created on February 3, 1976, by the military administration, carved out of the old Plateau State. From its inception, the state was administered by a succession of military administrators, followed by civilian governors in Nigeria’s evolving political landscape.
Over the decades, leadership passed through several hands each leaving varying degrees of impact on the state’s trajectory.
In its early years, Benue was widely regarded as a peaceful and united society. Communities coexisted in harmony, bound by shared values, cultural pride, and a strong sense of collective identity.
The economy was largely driven by agriculture, with fertile lands producing yams, rice, cassava, and other staple crops. Institutions like the Benue Cement Company also contributed to economic activity and employment.In those days, the government was distant from the daily struggle of the average citizen. Few people concerned themselves with the affairs of Government House. Wealth and dignity were derived from hard work, farming, trading, and craftsmanship not political patronage.
The people spoke with one voice, celebrated their traditions with pride, and upheld communal respect as a guiding principle.
However, the return of democracy in 1999 marked a significant turning point, one that would reshape the state’s social and political fabric in ways few anticipated.
With democratic governance came new opportunities, but also new challenges. Politics gradually became the most attractive path to wealth and influence.
For many, Government House transformed from a symbol of public service into a gateway to personal enrichment.
The perception of politics shifted from service to self-interest.
As political competition intensified, unity began to erode. Divisions along ethnic, local government, and party lines deepened. The once cohesive voice of the Benue people became fragmented, often drowned in partisan conflicts and power struggles.
Perhaps more troubling was the subtle transformation in societal values.
The Benue man, once admired for courage, resilience, and industry, began though not universally to exhibit tendencies toward dependency and political loyalty over merit.
Sycophancy started to replace integrity, and the dignity of labor was gradually overshadowed by the allure of quick gains through political connections.
Elected officials rose to positions of authority and influence, becoming key decision-makers in society.
Yet, for many citizens, the dividends of democracy remained elusive. Infrastructure development lagged, agricultural potential remained underutilized, and poverty persisted despite abundant natural resources.
The irony is striking: a state so richly endowed, yet struggling to translate its potential into tangible progress.
Beyond economics, insecurity and communal clashes in recent years have further strained the social fabric.
The peace that once defined Benue has been challenged, forcing many communities to confront displacement and uncertainty.
While these issues are complex and multifaceted, the role of political leadership in addressing or failing to address them cannot be ignored.
So, where did the politicians get it wrong?
They lost sight of the essence of leadership service to the people. Governance became more about control than development, more about personal gain than collective good.
Long term planning gave way to short term political calculations. Investments in agriculture, which should have remained the backbone of the state’s economy, were neglected in favor of less sustainable ventures.
Moreover, the failure to foster unity and inclusive governance widened the gap between leaders and the led. Politics became a tool for division rather than a platform for progress.
Yet, all hope is not lost.
Benue still possesses immense potential, fertile land, vibrant culture, and resilient people, what is needed is a return to the values that once defined the state: hard work, unity, integrity, and community driven development.
Leadership must be reimagined, not as an avenue for wealth, but as a responsibility to uplift the people.
The story of Benue State is not just one of decline it is also one of possibility.
With the right vision, commitment, and collective will, the state can reclaim its place as a model of peace, productivity, and progress.
The question remains: will its leaders and its people rise to the occasion?
If you want, I can.
OPINION
Nigeria Not Collapsing, Recalibrating Unsustainable System
By Tanimu Yakubu
Nigeria is not collapsing; it is confronting long-avoided economic realities. The current hardship, though undeniable, reflects a deliberate process of correcting structural imbalances that have persisted for years. Distress is evident, but it must not be mistaken for systemic failure.
Countries in true economic collapse do not unify exchange rates, rebuild external reserves, regain access to international capital markets, or improve fiscal performance.
Nigeria, despite significant pressures, is making measurable progress across these indicators.Ending a Distorted Economic Order
For years, Nigeria operated under an economic framework that projected stability while masking deep inefficiencies.
Artificially suppressed fuel prices, multiple exchange rate windows, and expansionary fiscal practices incentivized arbitrage over productivity.These distortions disproportionately benefited a narrow segment of the population while imposing hidden costs on the broader economy.
Their removal has revealed the true cost structure of the system. While this transition has triggered inflationary pressures, it has also restored policy transparency and enhanced the credibility of economic management.
Strengthening the Fiscal Base
Recent fiscal data indicates a strengthening foundation. Distributable revenues to the Federation Account have risen by over 40 percent following subsidy removal, reflecting improved remittance discipline and reduced leakages.
Nigeria’s public debt remains below 30 percent of GDP, a relatively moderate level compared to peer emerging markets, according to the International Monetary Fund. Meanwhile, external reserves have surpassed $40 billion, based on figures from the Central Bank of Nigeria.
At the subnational level, increased fiscal inflows are enabling more consistent salary payments, with some states introducing inflation adjustments, an indication of gradually expanding fiscal space.
Inflation: A Transitional Challenge
Inflation remains the most immediate and visible consequence of ongoing reforms. It is being driven by exchange rate adjustments, energy price corrections, and longstanding supply-side constraints.
Global experience suggests that such inflationary spikes are often temporary when reforms are sustained. The greater risk lies not in reform itself, but in policy inconsistency or reversal.
Interpreting the Present Moment
Public frustration is both expected and understandable. Nigerians are justified in demanding tangible improvements in living standards. However, it is important to distinguish between short-term hardship and systemic collapse.
Nigeria’s institutional framework remains intact, fiscal capacity is improving, and macroeconomic reforms are actively progressing. This phase represents adjustment, not disintegration.
From Stabilisation to Impact
The next phase of reform must translate macroeconomic gains into measurable improvements in citizens’ welfare.
Strategic investments in healthcare, education, and targeted social protection will be essential to sustaining public confidence.
Ultimately, the credibility of these reforms will be judged not by policy intent, but by their impact on everyday life.
Conclusion: The Imperative of Consistency
Nigeria has long recognised its economic challenges; what has often been lacking is sustained policy execution. The greatest threat at this juncture is not reform fatigue, but reform reversal.
Abandoning the current course would erode credibility, deter investment, and reintroduce the very distortions that hindered growth.
This moment demands patience, discipline, and resolve. Nigeria is not collapsing, it is undertaking a necessary correction and laying the foundation for a more resilient economic future.
Tanimu Yakubu is DG, Budget Office of the Federation.

