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How Eminent Nigerian Economists Warned Against Current Economic Hardship

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President Bola Ahmad Tinubu

By Abdullahi Dahiru

There is nothing of the current economic hardship we are witnessing that some eminent Nigerian economists have not predicted. Two former CBN governors Charles Soludo and Sarki Sanusi have repeatedly warned previous governments against some poor economic policies that were the major causes of the economic problems we are witnessing now.

President Obasanjo performed credibly well. In 2005, Nigeria’s foreign debt was $36billion. He secured a debt relief of about $18 billion from international creditors like the Paris and London clubs after settling over $12billion. Then Nigeria’s foreign reserve started growing up.

President Yaradua built the foreign reserve to all time high of $60billion. Nigeria’s foreign debt under him was less than $3billion.

Nigeria started accumulating foreign debt again under President Jonathan. At that time the then CBN governor Sanusi started drawing the attention of the government to that. He recommended removal of fuel subsidy and drew the attention of the government to the leakages in Nigeria’s oil company NNPC. He accused NNPC of not remitting all the money Nigeria was getting from the sale of crude oil into government coffers. That nettled the then President Jonathan who accused Sanusi of insubordination and ‘financial recklessness’ as CBN governor. Sanusi was subsequently removed from the office of CBN governor for blowing the whistle on corruption in NNPC.

Buhari became President when Sanusi was already Emir of Kano. Buhari continued to borrow money from foreign creditors. Sarki Sanusi repeatedly advised Buhari’s government against collecting foreign loans. He recommended the removal of petrol subsidy. He cautioned the CBN against surpassing the recommended 5% of previous year’s revenue as ways and means advances. He cautioned CBN against printing money without revenue to back it. Again, that became a problem for him. The Kano state and federal governments accused him of public criticism of government economic policies instead of private advice to the President and senior government officials. When Kano state government was trying to remove him from the throne of emir of Kano, the federal government looked the other way since one of its critics was going to be punished. Some federal agencies were even utilized for that purpose.

Buhari inherited foreign debt burden of $7.3billion and it ballooned to over $40billion under him. He was borrowing money to fund him government and pay petrol subsidies. The debt burden under Buhari was so outrageous that almost all earnings of the government goes into servicing debts. Government was servicing debt and taking more loans similar to what Hausa people call ‘biyan bashin daddawar kauye’.

President Obasanjo went after governor Alamasheigha who was arrested in London airport for laundering foreign currency and subsequently jumped bail from a British court. Alamasheigha was subsequently impeached. When governor Ganduje was seen in a video collecting kickback from contractors, what did Buhari did? He did nothing. Corruption became so pervasive under him that CBN staff forged his signature to siphon money. There were many other cases of monumental heists under him but yet he did almost nothing to either punish the offenders or stop the haemorrhage.

When Tinubu became President he announced removal of petrol subsidy and liberalization of foreign exchange. Nigeria was thrown into further economic turmoil.

Now some Nigerians especially many Northerners are accusing the advocates of the economic policies of Tinubu administration as the people that recommended government to throw them into the current economic hardship because of their ‘insensitivity’ and ‘capitalistic’ mindsets. These people are saying why not the experts recommend tackling of corruption as a remedy? Didn’t Sanusi lose two coveted positions for blowing the whistle on corruption? The first case was his accusation that NNPC was not remitting money from the sale of crude oil. The second case was his opposition to Kano state governor Ganduje taking $1.8billion loan to construct a light rail in Kano metropolis.

I am not trying to shield Tinubu from criticism of his economic policies. The truth is that he inherited a bad economy from several years of mismanagement. What are his options? I really don’t know.

The truth is that Nigerian scenario is similar to a person that sustained a fracture in the leg. He went to a traditional healer who unskillfully repaired it. The leg became gangrenous. Any sound orthopaedic surgeon will recommend amputation of the gangrenous leg. The leg was amputated. The amputee then blamed the orthopaedic surgeon for his travails not his previous decision.

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Opinion

Kano APC Crisis: An Open Letter to President Tinubu

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I hope this letter finds you well Your Excellency. As Nigeria stands at a critical crossroads, I write to you today as a concerned and dedicated member of the All Progressives Congress in Kano, compelled by the urgency of our nation’s challenges and aware of your unwavering determination to steer it unto the path of greatness.

But a united front is indispensable in achieving your grand plan for the nations success. Internal party crisis in my dear state, threatens the very foundation upon which your vision lies – unity – and this I write to you today, eager spark meaningful dialogue and constructive action on your part.

Mr. President, as the Commander-in-Chief of the Armed Forces and leader of our party, your urgent intervention is crucial to address the pressing issues at hand. If left unattended, it may escalate into a crisis that could have far-reaching and devastating consequences for the party, making it challenging to manage. Your timely action would help mitigate this risk and ensure the party’s stability.

In Kano, it is generally acknowledged that Dr. Abdullahi Umar Ganduje, former governor and current National Chairman, leads our party. Members have consistently shown loyalty to his leadership since day one.

You will also recall that Dr. Ganduje actively supported your presidential bid, demonstrating a pure, genuine and unmixed commitment to your cause during both the presidential primaries and general elections. However, some individuals now seek to drive a wedge between you and the Chairman, feeling threatened by his influential position as the National Chairman of our great party.

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Mr President sir, It is imperative to hold the Deputy President of the Senate Barau Jibrin accountable for plunging the All Progressives Congress into an avoidable crisis since taking office. As a seasoned politician and senator representing Kano North since 2015, his actions have significant implications. Barau Jibrin’s leadership has sparked division within the party, necessitating urgent attention to prevent further escalation.

Due to the recent removal of Abdullahi Muhammad Gwarzo as Minister, the All Progressives Congress is facing an unprecedented crisis in Kano North, a stronghold of the party since 2015. This division, fueled by Deputy President of the Senate Barau Jibrin’s actions, threatens the party’s stability. As a leader, Mr. President, it’s crucial to address this issue sustainably.

Barau Jibrin’s political strategy and human relations have been questionable, yet his influence led to the sacking of a loyal minister, Gwarzo. This decision was disheartening, considering Gwarzo’s impressive track record as a generous, humble, and grassroots politician. The people of Kano are upset, and rightfully so.

It’s essential to recognize Barau Jibrin’s intentions. He’s only loyal to you, Mr. President, because of your current position. History shows he’ll turn against you once you’re no longer in office. His self-serving nature is evident in his interactions with grassroots politicians.

To pacify the people and resolve the ongoing crisis, reappointing Gwarzo is imperative. This move will demonstrate your commitment to loyalty and fairness. The APC’s future in Kano North depends on it.

Mr. President, to ensure the party is back on track, it is crucial to prioritize collaboration with loyalists and consider the input of key stakeholders in Kano. This means moving away from decision-making that caters to a single individual who claims control over Kano North. Instead, foster an inclusive approach that values diverse perspectives and promotes unity within the party.

By doing so, you’ll not only strengthen the party’s foundation but also demonstrate your commitment to fairness and representation. This approach will help prevent unnecessary conflicts and ensure that the party’s interests are truly served. It’s essential to recognize that the party’s success relies on collective efforts, not individual interests.

For your information Mr President, Barau’s electoral successes can be attributed to the popularity of the House of Representatives candidates from his Senatorial District. These individuals are widely admired and respected by their constituents. However, rather than leveraging his own strengths, Barau has consistently relied on the goodwill and reputation of these candidates to secure his own victories, essentially seeking shelter under their umbrella.

It’s not yet too late for the President to do the needful for the interest of Kano State and the party at large. With the weight of history and the hopes of a generation on your shoulders, I urge you to confront the harsh realities that threaten our collective progress.

Nabahani Yusuf Gogori writes from Gogori town in Bagwai

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Opinion

Unmasking Excellence : Idris Abdulkadir Zare’s (Jagora) Leadership Style

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By Abba Anwar

Without any doubt, Idris Abdulkadir Zare’s name rings bell in Kano politics, particularly, in his political zone, Kano South. It rings bell not because he is terrifying, but simply because, his name, alone, signifies examplary leadership, selfless service to humanity, genuine loyalty and un-arguable commitment for the survival of the party, All Progressives Congress (APC), in this context.

While he is not a seeker of any elective public office, or party position, as I study him and his political antecedents, he believes, supporting party leadership and followership is one of the surest ways of strengthening the party, against all odds. I kindly call my readers to go to Rogo and substantiate my submission.

Here is a lone Jagora (leader) who spends from his hard earned resources to support the party without thinking of getting anything from anybody, no matter how highly placed, that person could be. His magnanimous touches go beyond party lines. Go to Rogo and seek for more clarification.

If Kano APC is really serious about mending fences, gaining more grassroot support, bouncing back in pre, during and post 2027, people like Idi Zare must be on board. I never met this gentleman. In fact I don’t even know his face, anyway. I come from Dala local government, Kano Central. But I came to know about him for quite sometime now.

He, unlike many of our politicians, made his fortunes outside government. But he spends stupendously in people’s welfare, needs and loyalty. One good thing about him, is, while engaging in such activities, he is not vying for any position. Meaning, this gentleman is acting the script of his good heart. He is indeed a morale booster from whatever standpoint you look at him.

This is somebody whose loyalty is not dangling. He supports what he believes in, with all his heart. By whatever standard, Zare is a Phoenix. And trains people to become that.

I caption this piece, as Unmasking Excellence… because, here is a strong party man, whose support and faith in the party and beyond, are more or less, left near lowest ebb. If we can have enough Zare’s replica from all our political zones, in Kano, regret and backwardness could be things of the past. No doubt about this!

I can also understand that, even among our APC strong men in the state, only those of them who are more loyal and sensitive to the welfare of the party members, are the ones that understand his (Zare) worth and work with him hand in hand, for the survival of the party, in the state and the nation in general.

Zare’s clear understanding of political cohesion as a recipe for good governance gives him more courage to see to the welfare and unassuming political engagement with the view to bring all politicians to state growth and development.

The issue goes beyond dishing out resources to people for massaging the economic hardship, he helps in perfecting people’s transportation network, via the provision of vehicles for their personal use. He recently distributed cars and motorbikes for his people. Not because he got a single Kobo from any government institution. He uses his hard earned money to do what he sincerely believes in.

He is also being disturbed by the economic hardship plaguing the society. Which makes hunger more visible than before. That makes him to be up and doing in cushioning the effect of this ugly experience. He distributes foodstuff on frequent basis. To help body and soul live together.

Zare Jagora is not any super human being, only that he believes in making people happy. While being interested in developing his people, without recourse to any ambition or expectations, he believes when man is developed, all other systems can work in harmony to each other.

If and only if, APC as a strong party in Kano, and the nation in general, is really interested in victory, strength and service to humanity, Zare’s legacy and immense contributions to humanity should not be downgraded to the bottom of the ladder.

Anwar was former Chief Press Secretary to the former Governor of Kano State, Dr Abdullahi Umar Ganduje and can be reached at fatimanbaba1@gmail.com

November 4th, 2024

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Opinion

Northern Nigeria’s Silence Amidst Rising Injustices: A Call for a Return to Principled Leadership

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The worsening security situation in Northern Nigeria is no longer merely a concern—it has become a full-blown crisis threatening the lives and liberties of millions. Kidnapping, once considered the work of hardened criminals, is now perceived as a lucrative trade. Even more disturbing is the encroachment of this practice into governance, with reports of state authorities detaining citizens under questionable circumstances, particularly young protesters. These developments raise difficult questions about the strength and integrity of leadership in Northern Nigeria and leave us wondering whether the region still has leaders who genuinely represent its people.

The recent detention of minors, allegedly in unhealthy conditions, illustrates this chilling trend. These young individuals were reportedly taken by the authorities while engaging in a protest to call for better governance. Their alleged crime? Waving a foreign flag, in this case, the Russian flag, which authorities deemed treasonous. They did so, perhaps naively, without recognizing the potential implications, yet the state treated them with severity, reportedly requiring a staggering N10 million per person as bail. In contrast, individuals in Southern Nigeria have raised foreign flags and voiced secessionist sentiments without facing equivalent punishments.

This discrepancy raises difficult questions about the consistency of the law and whether it is applied equally across the country. Why are Northern youth held to such strict standards while similar actions in other regions seem to be treated with leniency? Historically, the North was known for its stalwart leaders—individuals who stood up for the people, challenged the government when necessary, and never allowed the region to be compromised. Leaders like Sir Ahmadu Bello, the Sardauna of Sokoto, Alhaji Tafawa Balewa, and Malam Aminu Kano left a legacy of dignity, integrity, and advocacy for Northern interests. These figures prioritized the wellbeing of their people, standing up against exploitation and injusticeTheir voices resonated across Nigeria, leaving an indelible mark on the nation’s political landscape. Today, however, the lack of a unified voice from Northern leaders is disheartening. In the past, these leaders would not have hesitated to demand justice for the detained minors or to negotiate on behalf of their people. Now, the silence of Northern elites on issues like insecurity, youth incarceration, and poor governance has left a void. Instead of elders standing firmly to shield and protect the region’s youth, we are witnessing a tragic indifference that has left many young people feeling abandoned. This crisis of leadership in Northern Nigeria has had severe consequences. Kidnapping and banditry are ravaging communities, youth are disillusioned, and the voices of the people are ignored or, worse, suppressed.

The North is bleeding, and without intervention, the situation will continue to deteriorate. To the elders of the North, if indeed they still exist in spirit and purpose, it is time to rise. The North needs a collective, principled voice to stand against injustice and ensure that the region’s youth are protected and that their futures are not sacrificed to lawlessness or state oppression. The need for Northern Nigeria to reclaim its dignified, protective, and principled leadership has never been more urgent. It is time to break the silence.

Abubakar Ibrahim can be reach via:

habuibrahim76@gmail.com
+2348098454956

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