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Buhari: Borrowing To Bolster The Budget

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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.

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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

Nigeria’s Democracy on the line as politicians wield media outlets

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By Alhassan A. Bala

As the Fourth Realm of the state as well as the known watchdog of society, a media house is an entity that delivers news, information, or entertainment to the public through various channels.

Nowadays, these channels can include traditional media like newspapers, magazines, radio, and television, as well as newer platforms like websites, social media, and online video platforms.

Therefore, a media outlet acts as a bridge between creators of content and the audience and shoulders the burden of presenting such contents as truthful as they are.

Suffice it to say, however that when a Nigerian politician acquires a radio, newspaper or a broadcast station, he/she is not merely diversifying his/her business portfolio; rather he/she is ostensibility purchasing a direct influence over our national conversation.

As more of our elected officials and political elites secure ownership stakes in media outlets across Nigeria, we witness a dangerous blurring lines between those making policy decisions and those tasked with scrutinising them. This troubling trend poses a serious threat to our still-maturing democracy.

As a journalist that started the carrier with a privately-own media organisation, who later moved to an international media organisation and having covered Nigerian politics for over a decade, I’ve observed this pattern with growing alarm: acquisition is followed by subtle editorial shifts, culminating in the transformation of once-credible news organisations into partisan mouthpieces that serve their owners’ political ambitions.

The evidence surrounds us daily. Major broadcast networks linked to prominent political figures consistently frame national issues to advance specific political agendas. Several newspapers owned by serving or former governors remain conspicuously silent on corruption allegations against their proprietors. Media houses connected to ruling party stalwarts reliably amplify government achievements while downplaying policy failures. Meanwhile, opposition-owned outlets focus exclusively on criticising the government without offering constructive alternatives.

The damage extends beyond mere partisan bias. Journalists working for politically-owned media houses practice self-censorship to protect their livelihoods. Investigations into corruption involving politically-connected figures mysteriously disappear. Critical national issues like security challenges in the North receive shallow coverage shaped by owners’ interests rather than public welfare.

This represents a fundamental corruption of journalism’s essential role in our society. Some argue the proliferation of online media will solve this problem that Nigerians will recognise bias and find alternative sources. This underestimates how information environments function, particularly in a country where digital literacy and media literacy remains uneven and data costs limit many citizens’ access to diverse news sources.

The economic realities make matters even worse. Independent journalism in Nigeria operates under extreme financial pressure, while politician-owned media houses benefit from government advertising, exclusive access to information, and sometimes, protection from regulatory scrutiny.

The Nigerian Broadcasting Commission and other regulatory bodies often find themselves powerless against media operations backed by powerful political interests. This creates an impossibly uneven landscape for truly independent voices to survive.

What’s at stake isn’t merely abstract journalistic principles. It’s Nigeria’s future as a functional democracy. When politicians control the narratives about their own performance, they effectively shield themselves from accountability. This undermines the very foundation of representative governance that Nigerians fought so hard to establish after decades of military rule.

Consider how this affected our last general elections. Media houses aligned with different political interests presented completely different versions of reality. Facts became malleable, election results contested not based on evidence but on media narratives crafted by politically-owned outlets. How can Nigerians make informed electoral choices when the information environment is so thoroughly polluted by political interests?

Let me be clear about what must change: First, we need stronger enforcement of existing media ownership transparency laws by the Corporate Affairs Commission. Nigerians deserve to know who truly owns the media they consume. Second, the Nigerian Broadcasting Commission must become truly independent, free from political interference when making regulatory decisions. Third, we need specific legislation limiting political figures’ ownership stakes in media enterprises.

Most importantly, we need civic education that helps Nigerians critically evaluate news sources and recognise when political interests shape coverage. And we must support the few remaining independent media organisations through subscriptions and advocacy.

Some will dismiss these concerns as partisan; they’re not. This problem transcends party lines and affects both APC and PDP aligned media equally. Whether media houses serve ruling party interests or opposition agendas, the fundamental issue remains: the corruption of journalism’s essential function as a check on power.

A Nigeria where politicians control significant portions of the media landscape is like a courtroom where judges take instructions from defendants. The appearance of democratic process remains, but the substance of accountability cannot survive. If we value the Nigeria our founding fathers envisioned, a true federation of informed citizens capable of self-governance we must demand information systems that serve the public, not political paymasters.

The choice before us is stark: accept a future where political elites manipulate our understanding of national challenges, or fight for independent journalism that pursues truth regardless of who holds power. Nigeria’s democratic experiment depends on choosing wisely.

 

Alhassan A. Bala is the founder/Editor of Alkalanci, a fact-checking and media literacy platform, writes from Abuja and can be reached at editor@alkalanci.com

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Opinion

How Governor Abba Kabir Yusuf Revolutionizes Trade Investment, Commerce and Business Environment in Kano

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By Muhsin Alhassan

Before taking the mantle of leadership as Governor of Kano state, Alhaji Abba Kabir Yusuf developed a clear vision of industrialization, taking cognisance of the business and economic viability of Kano in the Northern region.

For centuries, Kano has remained a major economic centre in the African region, a vital hub for Trans-Saharan trade, facilitating the exchange of goods like kola nuts, cloth, and leather for salt, weapons, and manufactured goods.

Governor Abba Yusuf’s broad understanding of commerce, trade, investment opportunities and creating an enabling environment for corporate entities to strive left no one in doubt about his unwavering commitment to rebuild and rebrand the economic potential of the ancient city to compete with industrial and megacities in Africa.

On assumption as Chief Executive of the state, Governor Yusuf, who had earlier set his eyes on target to visualize the vision as conceptualised in his blueprint and campaign promises hinged on industrialization and commerce.

In the blueprint, the award-winning Governor on education and empowerment planned to create an enabling environment for Kano to be ranked highest on ease of doing business and support micro, small and medium enterprises for wealth creation as well as reviving moribund industries and businesses in the state.

To execute the huge mandate, Governor Yusuf searched for the right man for the
job and rightly settled for the choice of one of his confident and former Chief of Staff, Alh. Shehu Sagagi, whose wealth of experience in both public and private business ecosystems, speaks volumes of capacity and competency.

With a clear mandate to turn around the system, ‘Goni’ Sagagi immediately swung into action, injecting a breath of fresh air into trade, commerce, industries and bilateral investment environment, leaving no stone unturned to make Kano an attraction and destination for unlimited business opportunities.

Goni Sagagi, a strong torchbearer of Governor Yusuf’s mandate in the Ministry of Investment, Trade and Commerce, has made a significant impact and recorded success, giving the business environment a facelift.

For the first time in history, the Ministry approved the establishment of a private export processing zone in the two senatorial zones to widen the ease of doing business in Kano. The new zone will also serve side by side in trade and investment opportunities with the existing Federal Government trade zone.

Another giant stride recorded by Governor Abba Yusuf under the ministry was the approval for the resuscitation of the 44 garment centres abandoned by the last administration for eight years. With the reopening of the garment clusters, the centres have opened a new vista of training and job opportunities to over 10,000 youths.

Similarly, the Ministry of Investment under Sagagi constituted a technical committee for the establishment and promotion of a commodity exchange market to boost trade and commerce that will facilitate access to agricultural produce to the international market.

Sagagi has also opened up an additional common facility centre for shoe and bag making to accommodate more women entrepreneurs, making them self-reliant and reducing poverty and gender-based violence in Kano.

Again, part of the success stories recorded under Sagagi since he took over as Commissioner at the Ministry was the idea of the Ramadan Trade Fair, the first of its kind that brought the business community in the commodity market and traders across the major markets together to sell their products at largely discounted cost.

The gesture came timely enough to offer succour and intervention to a large number of middle and low-class earners to provide for their families. The initiative was timely when prices of foods were hitting the ceiling.

Still in the days under review, Alh. Shehu Sagagi engaged market leadership and settled disputes as well as embarking on a solidarity visit to the business environment.

The Ministry was able to, under the government Economic Policy Initiative, introduce policies for hiring local workers against exploitation. The government had also approved the setting up of an IT unit in the ministry.

In the interim, Goni Sagagi has concluded necessary plans to upgrade infrastructure in local marketplaces like Tarauni, Sheka, Gyadi-Gyadi, and others. The Ministry is also committed to elevating the Danbatta, Wudil, and Kura weekly market to bi-weekly spending to upscale trade volumes.

Nevertheless, Goni Sagagi has repositioned the mission and strategies on how to monitor and broaden the scope of business opportunities and committed to attracting investors.

With the opportunity afforded by Governor Abba Yusuf to serve the good people of Kano, the Ministry of Investment, Trade and Commerce has renewed vigour to go the extra mile to build a conducive atmosphere for the Kano economy to flourish.

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Opinion

The Blending of Segmented Three Stars in Education—Abubakar Musa Umar

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Abubakar Musa Umar

Kano State is blessed with a wealth of individuals with diverse experiences, skills, and contacts across many spheres of life, including religious, cultural, and educational spaces. The likes of Dr. Sheikh Isyaku Rabiu, Sheikh Nasir Kabara, and Sheikh Jaafar Mahmoud Adam are among the few figures to mention, possessing vast Islamic knowledge appreciated worldwide. Recently, Kano State has been blessed with three educational experts with extensive knowledge of education, from its foundational levels to the peak positions of management and decision-making.

Malam Yusuf Kabir was a civil servant for 35 years, retiring in 2014 as Director of Planning, Research, and Statistics at the State Universal Basic Education Board (SUBEB) Kano. He started as a classroom teacher and later became an education secretary in different local governments. Since 2015, he has worked with development partners and achieved remarkable success with the Education Sector Support Program in Nigeria (ESSPIN), the Department for International Development (DFID), PLANE-DAI, and many others. He is currently the Executive Chairman of the State Universal Basic Education Board (SUBEB) Kano.

In the last seventeen months, Malam Yusuf has brought significant changes to basic education in the state. He initiated the first induction training for newly recruited teachers to prepare them for the job. He transformed both the staff and facilities to enhance services and improve job satisfaction.

Malam Haladu Mohammed, an international development expert, started his career as a classroom teacher and later transitioned to higher education, where he rose to the level of senior lecturer in the Department of Geography at the College of Arts, Science, and Remedial Studies (CAS), Kano. Malam Haladu created several educational programs and projects, working as a Team Lead with DFID, OTL, and, most recently, as Chief of Party at USAID Liberia. He is currently the Technical Advisor on Education Reforms to the Executive Governor of Kano State.

Dr. Yakubu Muhammad Anas, a development expert with more than two decades of track records of accomplishment, was a classroom teacher for years, rising to the rank of Head Teacher before resigning to join development work. He has supported many programs and projects within and outside the country, working with ESSPIN, DFID, KaLMA, and Sesame Square Nigeria. He provides technical support to the Kano State Education Emergency Conference and is currently assisting the Ministry of Education and its agencies in achieving their target goals and objectives.

The three stars worked on the same projects and recorded remarkable success in their respective areas. The stars have now blended again, working with the Kano State Government to revive the education sector.

The recent appointment of Malam Haladu as Technical Advisor to the Executive Governor of Kano, the transformation of basic education under the leadership of Malam Yusuf Kabir, and the technical support provided by Dr. Yakubu Anas to the Ministry of Education and its agencies testify to the government’s commitment to real educational reforms.

Education is currently in the hands of experts whose experience and contributions to the development of education are recognized and appreciated worldwide.

May Almighty Allah (SWT) grant them the wisdom to devise solutions to existing challenges and transform education in Kano State.

Long Live, Kano State

Abubakar Musa Umar is an educationist and a development expert writes this from Kano

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