Opinion

Buhari: Borrowing To Bolster The Budget

Published

3 years ago

October 9, 2021

By Bala Ibrahim.

It is not the intention of this article to go into the merits of the mathematic behind the wisdom of borrowing by the Buhari administration to finance the budget, far from that. In fact, the writer is a fatal failure in Maths. The intention is to look at the economic dialectics behind the logic of borrowing, particularly in a weak capitalist economy like Nigeria, where private individuals or businesses own capital goods, and services are based on supply and demand in the general market. In the end, I hope to confuse, sorry convince, the reader on the patriotic purpose of PMB, the best President Nigeria ever had.

As usual, in Nigeria, every year after the presentation of the budget to the National Assembly by the President, the country goes into the gear of all manner of brouhaha, occasioned by the overexcited reaction to the magnitude of the money, or the mission statement therein, where sometimes, the critics permit their preconceived opinion, to play poisonous prejudice on the purpose and overall intention of the budget. Some people permit jaundice to becloud their vision, in such a way that makes them refuse to see the good purpose and direction, or the nice nitty-gritty of the economic mission.

In the past, the period and pattern of such palaver was unpredictably erratic. There was no fix time for the budget uproar. But since 2015, when destiny bestowed Buhari as a reasonable, responsive and responsible President of Nigeria, he rose to the occasion, by changing the timing and pattern of the budget presentation to the National Assembly. Before Buhari, budgets were presented to the National Assembly only when the Government of the day deems fit. There was no constant sequence in the budget cycle.

But with the coming of Buhari, a new feat was achieved, particularly in 2019, when the Ministry of Finance, Budget and National Planning, returned Nigeria to the budget cycle of January-December. It was an unprecedented achievement that has almost been forgotten in the country’s economic space. And kudos must be given to President Muhammadu Buhari.

I listened yesterday, to the concurrence and consistency of chorus, coming from the principal officers of the National Assembly, with regards the changes that have now arrived in the phases of the budget process. They said the country is now back to the days of correct budget preparation, correct budget legislation, correct budget execution, and correct budget accountability. And almost in unison, they gave the credit to President Muhammadu Buhari.

The general outcry of the critics of the budget is about the frequent borrowing of the Government, especially this particular one, where the Buhari administration said it plans to borrow more in order to finance the N6.258 trillion deficit in the proposed 2022 budget.

In addressing the borrowing issue, the Minister of Finance, Hajiya Zainab Ahmed said it was necessary that the government would continue to borrow to in order to fund developmental and infrastructure projects, as it does not get enough from it’s revenues. Hajiya Ahmed said Nigeria’s revenues could barely accommodate services, even as she emphasized that despite the concerns, the Government’s borrowings are still within acceptable limits.

“If we just depend on the revenues that we get, even though our revenues have increased, the operational expenditure of government, including salaries and other overheads, is barely covered, or swallowed up by the revenue. So, we need to borrow to be able to build these projects that will ensure that we’re able to develop on a sustainable basis. If you look at the total size of the borrowing, it is still within healthy and sustainable limits. As at July 2021, the total borrowing is 23% of GDP. When you compare our borrowing to other countries, we’re the lowest within the region, lowest compared to Egypt, South Africa, Brazil, Mexico, the very lowest, and Angola. Government has been borrowing before this administration and continues to borrow and it is important that we borrow to provide developmental projects in the form of roads, rails, bridges, power and water for sustainable development”-Minister Zainab.

It is an open secret that President Buhari intents on leaving behind a legacy of improved agricultural production, as currently, the agricultural sector contributes 23% of the GDP. Thanks to the President, for stimulating people to venture into large scale fertilizer blending and rice mills businesses. This is in addition to the Government’s rolling out of rail lines, some of which had been started several years ago, but abandoned, only for them to be completed by Buhari, through economically conscious and prudent borrowing.

To buttress the argument of the Buhari administration on borrowing to finance the budget, a chieftain of the All Progressive Congress, Prof Vitalis Orikeze Ajumbe, was not only supportive of the Minister of Finance, Hajiya Zainab Ahmed, but applauded the borrowing drive of the Government to fund capital projects.

Professor Ajumbe, a former Imo State Commissioner for Information and later commissioner for Internally Generated Revenue and Pension Matters, noted that despite the borrowings, Nigeria is not listed amongst the highest borrowers in the world. He argued that borrowings are proper and that all developing and developed countries in the world borrow to fund developmental projects. “Nigeria is not amongst the world’s top most debtor countries. It’s just No.8 in Africa to China with $4.8billion. Every developed and developing country in the World lives on borrowings. Angola, Ethiopia and Kenya are the top three African countries with highest debt profiles of $25 billion, $13.5 billion and $7.9 billion respectively”-Prof. Ajumbe.

In computing the academics of Nigeria’s economics, the general consensus amongst the economists is that, the country is blessed with the ingenuity of a prudence, that propels recession recovery. Nigeria had gone into multiple recessions, but courtesy of the economic sanity of the leadership, the Africa’s largest economy, unexpectedly always exits the recession quickly.

And some of the credit goes to the guts of Buhari, for adopting the template of responsive and responsible borrowing, including that of borrowing to bolster the budget.

Opinion

Let President Tinubu Rename University of Lagos After Gowon, Not Abuja

Published

4 days ago

December 18, 2024

Nigerian Tracker

Adnan Mukhtar Tudun Wada

I was not happy when Northwest University Kano was renamed to Yusuf Maitama Sule University, as student leaders of that University then, we followed the interest of the students who were also not happy with the renaming at that time for one reason; the renaming was politically motivated, to hurt the founder of the institution Senator Rabiu Kwankwaso. I was busy mobilising students to protest, the next day I was invited to the DSS for questions where I spent hours and all the people we were mobilising the protest together ran and dissociated themselves from it. I have no option but to plead with the DSS to release me, assuring them that not a single student would protest the government’s action.

The renaming has affected many students who are seeking admission abroad; it’s Northwest University on my transcript and Yusuf Maitama Sule University on my certificate. This is kinda confusing and not good at all.

Politicians should immortalise individuals in their new projects not existing ones. The renaming of the University of Abuja to Yakubu Gowon University is not good for the university’s alumni.

The President should have found a new project or built a new University by naming it after the former Head of State.

I don’t support the idea of playing politics by renaming our universities and this happens mostly in Nigeria.

Imagine waking up renaming the University of Maiduguri to Mohammed Goni University, Yobe State University to Ibrahim Geidam University, the University of Ibadan to Abiola Ajimobi University, the University of Lagos to Lateef Jakande University.

It will be bad for the alumni of the aforementioned universities to come across this.

Why is this only happening in Africa? Look at Makerere University in Uganda, it was established in 1920 but despite Yoweri Mosevenni’s long reign; he didn’t for once attempt to change it to even his name for selfish reasons.

He didn’t think of renaming the Entebbe International Airport after him but in Nigeria, we have this culture of renaming everything after individuals.

If you want to be immortalised, leave a lasting legacy as Gowon did in establishing NYSC. That enough is Okay and better than naming an institution after him.

President Tinubu should have renamed the University of Lagos after Gowon, not Abuja. I’m sure his people will reject this not for any reason but because of the large number of people that will be affected by it.

The University of Abuja Alumni were all crying over this painful decision.

Opinion

Ibrahim Abdullahi Waiya: Champion of Civil Society and Good Governance in Northern Nigeria

Published

5 days ago

December 16, 2024

Nigerian Tracker

Ibrahim Abdullahi Waiya, is an influential Civil Society figure in Kano State and Northern Nigeria. He is currently serving as the Executive Director, Citizens for Development and Education (CDE), he has dedicated many years of his civil society activism as advocate for the promotion of democracy, good governance, anti-corruption, peace building and women empowerment

Amb. Waiya, holds number of academic qualifications, including a Higher National Diploma in Public Administration from Kano State Polytechnic, a Bachelor of Laws (LLB) from Usmanu Danfodio University, Sokoto, Master’s in Public International Law at Maryam Abacha, American University, Maradi, and he is currently pursuing a doctor of philosophy at Skyline University, Kano in International Relations

In the course of his career, he held several positions and managed a number of projects. He served as the Director, Alhilal Foundation, from 2003 to 2007, an organization which focused on women empowerment, through basic literacy and skills acquisition. He later coordinated the North West Zonal Office of the Mallam Aminu Kano International Foundation. Amb. Ibrahim Waiya, led and coordinated a number of Local Government Councils Elections Observation missions across 19 Northern states.

In 2011, Waiya managed the Campaign against Drug Abuse under the auspices of Northern Youth Assembly, a youth driven platform with leadership structures in the Nineteen Northern States. He served as Secretary, for both, Kano State Stakeholders Committee on Anti-Drug Abuse Campaign and Kano State Stakeholders Committee on Anti-Child Abuse, a project which was coordinated by the office of the Special Adviser, Child Welfare and National Drug Law Enforcement Agency. His involvement in election observation coordination missions and various public engagements, highlights his commitment to civic engagement towards community development, democracy and good governance

Waiya’s extensive experience includes free consultancy support services to numerous Government Ministries and Agencies such as: Kano State Ministry for Women Affairs and Social Development, Kano State Ministry for Community and Rural Development, office of the Special Adviser to the Governor of Kano State on Child Welfare, Ministry for Special duties, office of the special adviser, joint security services. He has facilitated numerous training workshops and seminars, impacting his knowledge, skills, experience on the community, particularly for community based organizations

In recognition of his contributions, he was appointed to several key positions, such as the President, of the Kano Civil Society Forum, Chairman of the Conference of Northern States Civil Society Networks, Convener, Nigeria for Peace Project, Managing partner, United Nigeria Project, Head of Secretariat, Kano Peace Committee, Secretary General, National Action for Women Agenda,(NAWA), chairman, Board of Trustees, Northern Youth Assembly, (Majalisar Matasan Arewa) Fellow, Institute of Security and Strategic Studies, Fellow, Institute of International Peace and Secure Society, Fellow, Institute of Business Diplomacy and Financial Management, member, Commission of Inquiry on Missing persons, member, Implementation Committee, on the Recommendations of the Report of the Commission of inquiry on missing persons, member, Commission of Inquiry to investigate, various political violence and cases of missing persons, that occurred in the State from 2015 – 2023, member, Commission of inquiry to investigate protest, arson and destruction of public and private properties that occurred from 1st – 10th August, 2024 Amb. Waiya, served as Consultant on various government projects, such as: Kano State Security Trust Fund, Safe Corridor, Campaign against Drug Abuse, across the 44 Local Government Council Areas. Amb. Waiya”s active participation in peace building, policy advocacy and legislative reform has continued to impact positive change in Kano State, the North and Nigeria at large.

Opinion

“I Transition to PR and Digital Marketing to Transform Brands Globally” – Ibrahim Ayyuba Isah

Published

6 days ago

December 15, 2024

Nigerian Tracker

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As 2024 comes to a close, Ibrahim Ayyuba Isah reflects on his journey from journalism to public relations (PR) and digital marketing. With over a decade of experience in media and communications, Ibrahim’s transition was fueled by a desire to empower businesses—starting with Northern Nigeria but extending globally—to build impactful narratives and achieve sustainable growth.

“Every brand, regardless of location, deserves access to the tools and expertise needed to thrive in today’s fast-paced world,” Ibrahim says. “My goal has always been to bridge the gap in strategic communication, ensuring that no business is left behind.”

From Journalism to Strategic Communication

Ibrahim’s illustrious journalism career spans over a decade, during which he served as a Senior Reporter at TVC News, covering critical developments, including the Kano State Government House for three successive administrations. His work involved breaking major news stories, producing multimedia content, and engaging audiences through digital platforms.

“I’ve always been passionate about communication, but I realized I wanted to do more than report stories—I wanted to help brands craft their own,” Ibrahim shares. “That’s what led me to pivot into PR and digital marketing.”

To equip himself for this new journey, Ibrahim pursued advanced studies, earning a Master’s in Communication Studies and a Master’s in Public Relations from Bayero University, Kano. He further honed his expertise with a Professional Certificate in Digital Marketing from the London School of Business Administration and a Master Diploma in Digital Marketing from the Digital Marketing Skills Institute. These credentials underscore his commitment to mastering the art of strategic communication.

Empowering Brands Through Ayrah Media Concept

As the CEO of Ayrah Media Concept (AMC), Ibrahim leads a PR and creative agency that provides businesses with tailored solutions, including PR consulting, social media management, corporate campaigns, and digital marketing.

“My vision is to empower brands to connect with their audiences, tell compelling stories, and achieve global relevance,” Ibrahim explains. “Through AMC, we’re showing businesses—whether in Northern Nigeria or beyond—that they can reach new heights with the right strategies.”

In 2024, AMC worked on several impactful campaigns, including Ibrahim’s role as a Lead Consultant for the WOFAN-ICON2 project in partnership with Mastercard Foundation, where he developed and executed PR and communication strategies to amplify the project’s impact.

Changing Perceptions and Building Bridges

Transitioning into PR and digital marketing came with challenges, including shifting perceptions about its value.

“Many businesses see PR and digital marketing as optional rather than essential,” Ibrahim says. “But the results are transformative. Strategic communication is not just about visibility; it’s about building trust, credibility, and lasting connections with your audience.”

This philosophy drives Ibrahim’s approach, ensuring that businesses of all sizes—whether local startups or established corporations—can access high-quality PR and marketing services.

Looking Ahead

Ibrahim’s vision for the future extends far beyond regional boundaries. While his roots and passion lie in Northern Nigeria, his focus is on creating strategies that resonate globally.

“Brands in Kano, Lagos, Abuja, or even New York share a common goal: to connect with people and make an impact,” he says. “My mission is to ensure that every business, regardless of size or location, has the tools and strategies to achieve that.”

In 2025, Ibrahim plans to document his professional journey in a book that will explore his experiences as a journalist and PR expert, offering insights into the evolving landscape of communication and its role in business success.

A Message of Gratitude

As he reflects on the year, Ibrahim expresses his gratitude to those who have supported his journey. “I’m incredibly thankful to my mentors, collaborators, and clients who have believed in my vision. Together, we’ve shown that impactful communication has the power to transform lives and businesses.”

With a clear vision and an unwavering commitment to excellence, Ibrahim Ayyuba Isah is poised to lead the way in redefining PR and digital marketing, not just in Nigeria but across the globe.