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Government Panics as Cost of Living Crisis Deepens

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Professor Jibril Ibrahim

 

Jibrin Ibrahim

The Tinubu Administration is a fanatic believer in economic liberalism and market forces. Based on its belief, it cancelled fuel subsidy and floated the naira so that it can find its true value. The naira played its part and has been rising steadily desperately searching for its true market value, which it turns out, is still very far away. The result is a “misery crisis” as food prices rise beyond the incomes of ordinary citizens whose naira is too small to enable them purchase food and hunger and anger spreads throughout the land. The President who always tells Nigerians that he understands their pains then offers a solution and orders distribution of free grains from the Strategic Food Reserves. It turned out the civil servants forgot to brief him that the reserves are empty.

Over the past few weeks, hunger and anger have led to street protests all over the country and strike threats. Our politically savvy President sensing the danger decides that since the stupid market forces are now threatening his turn to rule in peace, he must find a diversion. If you search, you will find. The Bureau de Change operators, the “Mallams”, are responsible for destroying the capacity of the “market forces” he unleashed to bring down the cost of living. He therefore got the EFCC to establish a Special Task Force across its commands, to clamp down on individuals “dollarizing” the Nigerian economy. The gun trotting operatives of the Economic and Financial Crimes Commission have since Monday been raiding Bureau de Change operators and arresting them all over the country. The task force which was inaugurated by the Executive Chairman of the Commission, Ola Olukoyede, was raised: “to protect the economy from abuses, leakages, and distortions exposing it to instability and disruption”, we were told.

Those of us of a certain age were brought up in an era in which the dollar did not circulate as a means of exchange or store of value and we used our currency, the naira. Did our Afrobeat hero Fela Kuti not do to jail for having dollars cash that he wanted to travel out of the country with to perform in a concert? Then the neoliberals told us it was imperative to allow free purchase and sell of foreign currency. They even encouraged us to open domiciliary accounts in our banks to store foreign currency which government guaranteed will be safe as the ideology of free markets requires the assurance. The Central Bank of Nigeria licensed thousands of BDCs and asked them to trade in currencies. Why the hell are they being arrested today for doing what the law asked them to do? The other panic move is to place the blame on crypto-currency websites for stealing the value of the naira. The issue is that the few people with naira, conscious of its steady and daily loss of value, would seek to protect their asset anyway they can, won’t they?

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The fact of the matter is that we are simply not earning enough foreign currency to meet our high demands for imported goods. In so doing, for decades, we have relied on petroleum rent as our major source of foreign currency. Then to our shock, in 2022, the Group Managing Director of NNPCL, Mele Kyari, explained to us in a State House media briefing that most of our petroleum was being stolen so the dollars are no longer coming in. Mr. Kyari blamed various sections of the Nigerian society for being complicit in the theft of millions of barrels of crude oil, mentioning even that make-shift pipelines and stolen fuel have been found in churches and mosques.

We were told that between January and July 2022, Africa’s biggest oil producer lost an average of 437,000 barrels of oil a day to criminal entities and individuals who illicitly tap pipelines onshore and offshore in the Niger Delta region. The solution to the problem is therefore clear – stop the oil theft and more dollars will come in. The bigger issue is that for a rentier State, safeguarding the source of rent is an existential problem and simple logic should have prevailed and made the state stop the theft. The underlying reality, as we all know however, is that our political leaders and upper echelons of our security forces are beneficiaries of the oil theft. They have taken the decision to eat the goose that lays the golden egg and move to Dubai thereafter as rich refugees.

There is still an explanation needed for the astronomic collapse of the Naira over the past few weeks. What the hell is going on? The answer, says the research done by Business Day is that we should look at those with a lot of naira – government. Since the removal of fuel subsidy, the Federal and State governments have been receiving massive amounts of naira through the disbursement of money by the Federation Account Allocation Committee (FAAC). BusinessDay learnt that portions of the funds from FAAC were often changed to dollars by some governments at the parallel market, putting more pressure on the naira. Their analysis shows that from July 2023 to January 2024, the naira depreciated in the black market for the six months immediately after the FAAC shared money to the federal, state and local governments:

“With the removal of fuel subsidy, more volumes of naira are being shared by the federal, state and local governments and some of these monies are changed to dollars at the parallel market.” BusinessDay has asked us to open our eyes from now on. We should note the price of dollars one week before FAAC allocation, check back the price after the allocation and you will see clearly the difference. Let’s all do that and know that those who should go to jail are some of our governors and ministers. President Tinubu, please stop panicking, just look around you and you shall see.

Professor Jibrin Ibrahim
Senior Fellow
Centre for Democracy and Development, Abuja
Follow me on twitter @jibrinibrahim17

Opinion

Kano Gov’s Defection : As Gov Radda Concretizes Synergy With Kano

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By Abba Anwar

Immediately after his official decamping to All Progressives Congress (APC), the Kano state Governor, Abba Kabir Yusuf, the Governor of Katsina state Dr Umar Dikko Radda, described the move as “… strategic for regional unity, stability and development.”

In a press statement issued by his Chief Press Secretary, Ibrahim Kaula Mohammed, the Chairman of the North West Governors’ Forum, Radda, after congratulating Kano governor for the move, he signaled his intention of working in good synergy with his Kano counterpart for finding lasting solutions to insecurity, political instability and other vices.

He was instructive when he said, according to the statement, “The decision of His Excellency, Governor Abba Kabir Yusuf, to join the APC is a demonstration of responsible leadership and a strategic step towards deepening cooperation with the Federal Government and advancing the Renewed Hope Agenda of President Bola Ahmed Tinubu for the benefit of Kano State and the entire North West.”

The statement clearly indicates maturity in governor Radda’s statesmanship position across the zone, his readiness to work tirelessly with governor Yusuf in repositioning and revitalizing the zone for better tomorrow. In areas like sustainable development, enhanced security, fight against youth restiveness and drug abuse.

In his commendation of the Kano state governor, he acknowledged that, “Leadership demands the courage to take decisions in the long-term interest of the people. Governor Abba Kabir Yusuf has demonstrated this by placing peace, stability and progress above all other considerations.”

In my estimation and understanding, the way Kano APC received the hitherto New Nigeria People’s Party (NNPP) governor into its fold, with all sense of dignity, humility and magnanimity, was what moved other APC North West Governors to collectively congratulate him through the able leadership of the governor of Katsina state.

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The statement disclosed that, “On behalf of the North West Governors’ Forum, Governor Radda congratulated Governor Yusuf and assured him of the full support and cooperation of his colleagues across the region and the country, while wishing him wisdom, strength and success in his leadership.”

All who is who in Kano APC was very much around and received the governor with all open hearts. To the extent that, he was assured by the APC leader in Kano, then, former governor Dr Abdullahi Umar Ganduje, CON, that, all paths were set for the new entrant, governor Yusuf, to seek for re-election come 2027.

The same assurance was given by the Deputy Senate President, Distinguished Senator Barau I Jibrin, CFR, that, he jettisoned his ambition and gave way for the incumbent to contest for a second tenure, 2027. Many good wishes and encouragements were transparently stared at the good face of the governor.

Observing how comfortable the Kano state governor was, during the grand event for his decamping, that took place at Government House, Kano, governor Radda believes further that, another good partner for meaningful development is now on board. Hence the unwavering support from other North West governors to governor Yusuf.

Radda’s glaring happiness and show of commitment towards the development of Kano, was what prompted him to acknowledge and accept new political alignment and realignment with Kanawan Dabo at the peak of political cohesion, as governor Yusuf cross-carpeted.

In the referenced press statement, the Katsina state governor hinted that with Yusuf’s exit from NNPP to APC, the synergy between Kano and federal government, which he termed as political realignment would enhance the implementation of the Renewed Hope Agenda in critical areas such as security cooperation, agricultural transformation, industrialisation and youth empowerment.

With this, we have nothing to add, as encomium to the people’s President, Bola Ahmed Tinubu, GCFR, who has energetic state governors under the platform of his party, the APC. Such as Governor Radda, who leads North West Governors’ Forum.

In another way round, Katsina state governor, is very instructive to some basic advances that, Kano state under APC, would receive critical attention from the federal government. This, I observed severally.

This could also mean, Radda’s attention and unwavering commitment for development, are focused on Kano, with the entrance of Yusuf into APC’s fold. This means a lot as build – up to APC’s victory come 2027. It also means his un-arguable commitment to regional cohesion and cooperation.

To fully appreciate and strengthen the courage of other elected officials from Kano, who also decamped to the ruling APC, in the press release, the leader of North West Governors’ Forum, “… welcomes the decision of members of the Kano State Executive Council, the State House of Assembly, National Assembly members and local government Chairmen to also join the APC, describing it as a strong signal of political stability, unity of purpose and shared commitment to development in the state.”

Anwar writes from Kano
Wednesday, 28th January, 2026

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Opinion

Political Juggernaut And Stabilizer Of Reckon

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Dan Sa’idu Mamman Gaya

The ongoing political shake-up navigating the Kano’s political atmosphere will ultimately lead to alignment and realignment of political forces. Positions, both elective and appointive will be adjusted to align with the new coalition. This is with a view to striking balance, provide the necessary shocks to accommodate members of the ruling Al Progressives Congress (APC).
Since the news of resignation of Governor Abba Kabir Yusuf from New Nigeria Peoples Party (NNPP) broke, the political atmosphere in Kano state has been tensed and filled with high degree of uncertainty which has led to the sharp division of the Kwankwasiyya movement into those in favour of the impending defection of the Governor to All Progressives Congress (APC), led by key confidants of the Governor and those oppose to the move led by the leader of the Kwankwasiyya movement, Senator Rabi’u Musa Kwankwaso.
Naturally, when there is such a political development, positions are likely to be affected and realigned to suit the desired political stability and balance. In the instant case of the defection of Governor Yusuf from NNPP to the APC, which triggered division among the Kwankwasiyya adherents, there are indications that the office of the Deputy Governor might ultimately become vacant owing to the adamant posture of the current occupier of the office, Comrade Aminu Abdulsalam who apparently pitch tent with those that are opposed to the defection of the Governor. The likely thing to happen with the eventual vacation of the office by the Deputy Governor either voluntarily or to be consumed by the consequential political adjustment, the realignment will create a vacant deputy governor’s position.
The governor’s defection may lead to the impeachment of the deputy governor at worst, or he might decide to follow the path of honour by resigning the position.

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In the event of the eventual Deputy Governor’s exit, the task of replacement becomes a priority and a matter of serious consideration for political stability and balance of power in the state. In this regard, the process of choosing a new Deputy Governor must be matched with the necessary tact and strategy and forward thinking. Already, there are schemings and discreet moves by interested individuals and groups that are promoting certain individuals to replace the Deputy Governor in his eventual exit as the number two citizen of the state.
Among the frontrunners for the replacement of the Deputy Governor is a former Commissioner for Local Government, Honourable Murtala Sule Garo whose choice is seen as most strategic, suitable, appropriate, right and apt for stability and balance of the Abba Kabir Yusuf government and political structure. Those who favour Honourable Murtala Sule Garo to emerge as the next Deputy Governor hinged their argument on some sterling qualities of Honourable Garo among which include his strong political structure that cuts across the entire length and breadth of Kano State. Loyalty and commitment as displayed in his previous assignments both as Local Government Chairman and later Commissioner for Local Government has made him the best option so far. Honourable Garo’s political influence came to the fore when he aspired for Kano Governorship in 2023 where his political strength, doggedness, dexterity and spread made him to secure the Deputy Governorship ticket of the All Progressive Congress (APC) after the party primaries, owing to the fact that he was a force to reckon with since APC was deeply committed and determined to win the governorship election.
Those behind the moves for the emergence of Honourable Sule Garo as the next Deputy Governor are of the view that fairness, justice and equity are essential components of democracy hence maintaining the Deputy Governorship seat in Kano North Senatorial district where Honourable Garo hails from will solidify the support base of the APC and by extension that of the Governor. This is even more so, as the zone has always been a stronghold of the APC. The APC has maintained control of the Kano north senatorial district even in the face of the NNPP’s 2023 winning streak that swept across the entire Kano’s political landscape. Unarguably, Honourable Garo’s unmatched influence and strong political grip in the Kano North remains the secret of the continuous relevance and dominance of the APC in the zone, hence his choice as the next Deputy Governor will ultimately solidify APC in the zone and better prepare Governor Abba Kabir Yusuf for a smooth return to Government House come 2027. A word is enough for the wise.

Mamman contributes this piece from Kaduna.

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Opinion

Why Garo Deserves Deputy Governor Position Under Kano’s New Political Equation

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By Najeebullah Ibrahim Soron Dinki

As Kano State witnesses renewed political realignment and coalition-building, attention is increasingly shifting from slogans to substance.
At the heart of this transition lies a crucial question; as the current Deputy Governor, Comrade Aminu Abdulsalam Gwarzo who stick to NNPP bow out, while the Governor, Alhaji Abba Kabir Yusuf defect to APC. What is it likely to happen to the vacant deputy governor’s position when he finally vacate the seat? Who among the political figures will Governor Abba choose to replace him and equally fly the ticket with him in his second term bid?
A politician that can fit in and eventually complement the governor, must be a person with credibility, balance, and grassroots strength. He must be the best bet for this position. In this unfolding conversation, Murtala Sule Garo emerges as a compelling and strategic choice for the Deputy Governor position.

Kano politics has always been decided from the bottom up. Elections are however not won in conference rooms alone but at polling units, wards, and local government areas. This reality places a premium on leaders with authentic grassroots connections—leaders who understand the language, needs, and aspirations of ordinary people. Garo’s political journey reflects precisely this grounding.

Unlike many whose influence is limited to elite circles, Murtala Sule Garo’s relevance has been forged through sustained engagement with grassroots structures. His political capital is built on trust, loyalty, and accessibility. These are not abstract virtues; they translate directly into mobilization, trust, and electoral resilience—assets any serious coalition must prioritize.

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Beyond grassroots appeal, Garo brings valuable experience in public service and political administration. The office of Deputy Governor demands more than ceremonial presence. It requires a steady hand capable of managing sensitive political relationships, coordinating government priorities, and serving as a reliable bridge between leadership and the people. Garo’s background positions him to perform this role with competence and restraint.

Coalition politics, by nature, thrives on inclusion and unity. Kano’s emerging coalition must accommodate diverse interests, heal divisions, and project stability. Garo’s ability to maintain cordial relationships across political lines marks him out as a consensus builder, not a polarizing figure. In a state as politically vibrant as Kano, this quality is indispensable.

Electorally, the value of a deputy governorship candidate lies in added strength, not symbolic balance alone. Garo’s extensive grassroots networks, youth engagement, and familiarity with local political dynamics give the coalition an edge where it matters most—on election day.

In the final analysis, the Deputy Governor’s slot should reinforce credibility, expand reach, and stabilize governance. Murtala Sule Garo represents a blend of grassroots legitimacy, political maturity, and unifying potential. For a coalition seeking victory and effective governance in Kano State, his candidacy deserves serious consideration.

As Kano stands at the threshold of a new political chapter, choices made today will shape governance tomorrow. Selecting leaders rooted in the people remains the surest path forward. In this regard, the cap fits Hon. Murtala Sule Garo.

Najibullah Wrote from Kaduna

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