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The Falling State Of Businesses In Nigeria-Umar Ismaila Isa

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Umar Ismaila Isa

 

By Umar Ismaila Isa

Its saddening, psychologically and traumatically worrying that in our today’s Nigeria, the major employers of labour are not just falling, but also wobbling, humbling, crumbling and collapsing like packs of cards much to the chagrin of other African countries that have long been venerating and reverencing and referencing Nigeria’s economy as the giant of the continent. How are the mighty falling.

Some of the factors responsible for these colossal falls are partisan political influence, interest as well as corruption which had brought businesses in Nigeria to their humble knees, specifically the micro, small and medium enterprises, while also not staking claims for even common macroeconomic factors like recessions, insecurity, government debt, exchange rate and high-interest rates.

As we speak, there were over 41million MSMEs in Nigeria in 2017. which have as at 2022 dropped to about 35 million.

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No doubt, failure to provide value money can make customers disgruntled and avoid patronage, so also poor inventory management, failure to differentiate product and services in a highly competitive environment, and strong bargaining power of buyers which can as well cause business failure, not mentioning weak economy, tax burden, high exchange rate, lower purchasing power, high inflation, money running out being in the wrong market, lack of research, bad partnerships and wrong allocation. All these undoubtedly in no small measure can cause business failure.

Also, Challenges like rising cost and reduced revenue, poor power supply, restrictive economic policies, foreign exchange hike, high cost of production, insecurity, high inflation rate have drastically reduced the number of MSMEs which were over 41million in 2017 and now ar about 35million in the just last year 2022.

The data from the bureau of labor statistics isn’t encouraging at all, as it shows that approximately 20percent of new businesses faile during the first two years of operation, 45percent during the first five years and 65percent during the first ten years, while only 25percent makes it to 15 years or more.

In Nigeria, MSMEs account for 48percent of the Gross Domestic Product, (GDP), 96percent of businesses, 84percent of employment in the the country, according to a pricewaterhousecoopers report, and also the three CCCs which are concept, capability and capital. So it’s worthwhile to make sure that before engaging in any business that you make sure you have the basic concept, capability before investing your capital.

As a matter of fact and emergency, beyond the rhetorics, there are practical ways government can create the right environment for businesses to thrive increase, the ease of doing business, eliminate multiple taxations of MSMEs, encourage public-private partnerships, improve power supply, tackle the issue of foreign exchange hike, because with the rate of inflation in the country many businesses can’t survive.

The government and other necessary authority have to take measures to save the country before it’s too late, and the time is now especially as we prepare to elect another president in less than 40 days from now that will take the baton of leadership from President Buhari.

Umar Isa is a business writer and analyst. He writes from Kano and can be reached via issihbaba@gmail.com

Opinion

Tinubu’s Media Chart: A Missed Opportunity to Reassure the Nation

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President Bola Ahmad Tinubu with selected journalists during the media chat

 

In what can only be described as a media appearance marked by confusion, evasiveness, and a lack of clear direction, President Bola Ahmed Tinubu’s responses to questions posed during his recent media interaction have sparked widespread discussion. Rather than providing insightful answers, his statements were widely perceived as poorly articulated, lacking substance, and marked by arrogance and a clear avoidance of crucial national issues. This marks a troubling trend for a leadership that should prioritize transparency and engagement, especially in a time of multiple national crises.

The chart of his media responses paints a grim picture of a leader whose communication strategy failed to inspire confidence or instill hope. What was expected to be an opportunity for the President to outline his administration’s plans and provide assurances to the public instead became a showcase of confusion. Instead of offering concrete solutions, Tinubu’s responses appeared to be based on guesses, derailing tangents, and, at times, deliberate misdirection. The media session, initially billed as a platform to reassure the public, ended up confirming a sense of tragedy in the stewardship of the nation’s leadership.

One of the most glaring issues was the arrogance that tinged Tinubu’s answers. When confronted with tough questions, rather than acknowledging the challenges facing the country or offering tangible steps for improvement, the President’s responses were marked by a dismissive tone that bordered on condescension. This arrogance not only alienated the public but also raised serious concerns about the administration’s willingness to listen to criticisms and adjust its policies in response to the nation’s realities. When a leader adopts such an attitude, it creates the impression that the government is more interested in protecting its image than addressing the real issues affecting the populace.

Moreover, the session was fraught with evasive answers that left many critical questions unanswered. Instead of providing clear plans or actionable steps, Tinubu opted for vague generalizations and platitudes, further muddying the waters of the nation’s leadership. Key questions on national priorities—such as how to tackle the economic crisis, improve security, and rebuild the nation’s infrastructure—were met with empty rhetoric rather than substantive proposals. The refusal to engage meaningfully on these pressing issues left the public in the dark, questioning the sincerity of the government’s commitment to resolving the country’s myriad challenges.

What stood out most during the media chart was the absence of a clear direction. Tinubu’s answers were devoid of any concrete vision for the future of Nigeria. This lack of clarity led to an atmosphere of confusion, with the public unable to grasp what the President stands for or what his administration aims to achieve. As he meandered through the questions, it became increasingly apparent that there was no definitive roadmap guiding the administration’s actions. If anything, his responses seemed to suggest that the government is reacting rather than planning—failing to project a clear path forward.

Rather than offering strategic insights into how his government would address the most critical challenges facing Nigeria, such as the ongoing fuel subsidy removal crisis, insecurity, and worsening poverty rates, Tinubu’s responses felt like nothing more than guesses and half-baked ideas. The lack of coherence and forward-thinking in his remarks confirmed the fear that the country may be drifting without clear leadership.

Perhaps the most concerning aspect of the media interaction was the depressive tone that permeated Tinubu’s responses. Instead of offering reassurance and hope, his answers instilled fear and hopelessness. The public, already burdened by various challenges, was left with a sense of dread after the media appearance. The absence of optimism, the lack of a vision for a better future, and the overall gloomy nature of the discussion reinforced the idea that the nation’s leadership is disconnected from the realities facing everyday citizens. This left many wondering if the government was even aware of the mounting discontent across the nation.

Rather than providing a rallying cry for the nation to unite and face its challenges, Tinubu’s words seemed to deepen the despair. His inability to inspire confidence during this media interaction has left many questioning not just his competency, but his capacity to lead at a time when Nigeria needs strong, decisive leadership more than ever.

The media interaction, intended to mark a milestone in the President’s communication with the public, ended up being nothing to celebrate. There were no breakthrough moments, no clarifications on the way forward, and no uplifting remarks to offer hope to the people. In fact, it was a moment to reflect on the stark reality that the leadership may not be equipped to tackle the country’s most pressing issues. The lack of any tangible answers to the nation’s most urgent challenges only reinforces the perception that this administration may be out of its depth.

Tinubu’s media chart highlighted the growing gap between the government and the people. His failure to provide any tangible answers, his arrogance, and the evasive nature of his communication have only served to deepen public skepticism about the current administration’s capacity to lead effectively. The disconnection between the government’s rhetoric and the realities on the ground could not have been more apparent.

In conclusion, the First Bola Tinubu Media Chart was an exercise in missed opportunities. It was a moment to reassure the nation, but instead, it confirmed a sense of tragedy in the nation’s stewardship. As the public continues to grapple with economic hardship, insecurity, and social unrest, Tinubu’s inability to provide clear direction and inspiring leadership only deepens the nation’s fears about its future. If this is the level of communication and leadership Nigerians can expect, the road ahead is indeed a troubling one.

Garba Ubale Kankarofi wrote this piece from Kano, Nigeria.

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Opinion

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

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Adnan Mukhtar Tudun Wada

 

 

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.

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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.

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Opinion

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

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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.

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