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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

Beyond the Godfather’s Shadow: Why Governor Abba Kabir Yusuf Chose Kano Over a Provincial Presidential Quest

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​By Kabiru Sani Dogo Maiwanki

​The recent pronouncements by Senator Rabiu Musa Kwankwaso regarding Governor Abba Kabir Yusuf’s strategic political recalibration have finally stripped away the façade, exposing the profound ideological fissures within the NNPP hierarchy. In a caustic address delivered Saturday evening, the Senator characterized the Governor’s newfound autonomy as a “betrayal” of a far more egregious nature than that of his predecessor, Abdullahi Ganduje. However, in this vitriolic attempt to cast himself as the victim of political infidelity, Kwankwaso inadvertently betrayed a disconcerting truth: he viewed the incumbent administration not as a sovereign executive entity, but as a subordinate instrument of his personal political estate.

​Senator Kwankwaso remarked that, as a presidential hopeful, his fundamental expectation was that the administration he purportedly “installed” would function as a geopolitical centrifuge—a financial and logistical catalyst designed to project the Kwankwasiyya hegemony into neighboring Northwestern territories. He expressed profound chagrin that, over two years into this mandate, the machinery of the Kano State government has not been weaponized to “conquer” even Jigawa State for his political brand. This revelation is remarkably candid; it implies that the Senator’s patronage of the current administration was never rooted in the socio-economic advancement of the Kano populace, but was instead a cynical stratagem to treat the state’s commonwealth as a private war chest for a singular, ego-driven presidential odyssey.

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​By resisting this role, Governor Abba Kabir Yusuf has committed what Kwankwaso perceives as an unpardonable “sin,” but what objective observers must recognize as a courageous act of institutional integrity. The Governor’s refusal to allow the Kano State treasury to be cannibalized for regional political expansion is a resounding victory for fiscal prudence and administrative transparency. It represents a principled rejection of the archaic practice where public commonwealth is weaponized to bolster the narrow political interests of a singular godfather at the expense of the citizenry.

​The depth of the Senator’s desperation is now laid bare for all to see. In a striking reversal from his usual posture of absolute authority, Kwankwaso has been reduced to making public appeals for reconciliation. His recent plea—openly asking anyone with access to the Governor to “beg him to come back”—reveals a leader who has finally grasped the magnitude of his loss. It is the sound of a man who realizes that the “innocent aide” he once underrated has not only secured his independence but has taken the soul of the movement with him.

​It is therefore essential for Kwankwaso and other political leaders who pride themselves on their political stature to realize that there is a limit to how long they can continue to deceive and exploit their followers. Respect must be reciprocal; whether between a leader and the led, there is a definitive limit to the amount of insult, manipulation, and contempt any person can endure.

Whenever you push a supporter to the brink and their patience finally runs out, the consequences of their anger will certainly be unpleasant for those in power.
​For the well-meaning people of Kano, this is a moment to offer unalloyed commendation. Governor Abba deserves praise for his steadfastness in protecting the state’s allocations and for prioritizing the welfare of the masses over the expansionist agenda of a political empire. Abba Kabir Yusuf has chosen to be the custodian of the people’s trust rather than a puppet for personal ambition, and in doing so, he has redefined the essence of leadership in Kano.

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Opinion

From Zamfara roots to national vision: Aliyu Muhammad Adamu, seasoned media leader, returns home to serve his people.”

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Aliyu Muhammad Adamu was born on 29th December 1982 in Tsafe Local Government Area of Zamfara State, into the respected Adamu Joji family.

He hails from a lineage that includes notable family members such as Alhaji Sanda Adamu Tsafe (Sarkin Yakin Tsafe), Alhaji Aliyu Adamu (Danmadami), Alhaji Sani Adamu, Hajiya Khadija Adamu (Gwoggo Dala), and Hajiya Amina, among others.

His father, Muhammad Adamu (popularly known as Nata’ala), later relocated to Kano State in pursuit of business expansion. As a result, Aliyu and his siblings were raised in Kano, where he began his early education at Da’awa Primary School, Kano.

Driven by a strong connection to his roots, Aliyu returned to Zamfara State for his secondary education, attending Unity Secondary School, Gummi. He subsequently gained admission into Bayero University, Kano (BUK), where he obtained both his Diploma and Bachelor’s Degree, graduating in 2010.

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After completing his National Youth Service Corps (NYSC), Aliyu faced the realities of life with resilience and determination, navigating through challenges that shaped his character and leadership capacity. In 2014, he returned to Zamfara State and began his professional career in the media industry with Gamji Television and Radio.

Through dedication, hard work, and professional excellence, he served the organization for nearly ten years, rising through the ranks to become the General Manager of the station, an achievement that underscored his leadership, administrative competence, and commitment to public communication.

In 2023, Aliyu voluntarily resigned from the media organization and relocated to Kano State in pursuit of broader opportunities and personal development. Today, driven by a renewed sense of purpose and a lifelong commitment to his people, Aliyu Muhammad Adamu is preparing to return to his hometown to seek the support and mandate of his people. His aspiration is to represent our parents, brothers, and sisters at the federal level, with a clear vision of contributing meaningfully to the development, unity, and overall progress of Zamfara State.

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Opinion

Opinion:The Anatomy Of A Hoax- Setting The Record Straight On Governor Abba Yusuf

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​By Ahmed Badamasi Tsaure

​The recent wave of political “scoops” regarding the purported defection of Governor Abba Kabir Yusuf of Kano State to the All Progressives Congress (APC) has moved beyond mere speculation into a coordinated campaign of character assassination. Most notably, reports by Daily Nigerian claiming the Governor’s move was “postponed” are masterpieces of fiction, designed to paint a sitting Governor as indecisive and subordinate. As a witness to the political realities in Kano, I find it necessary to dismantle these fallacies with the facts that the purveyors of this rumor have conveniently ignored. In Nigerian politics, defection is a statutory process requiring a formal resignation from one’s current party. To date, Governor Abba Kabir Yusuf has not submitted any resignation from the New Nigeria Peoples Party (NNPP). To claim that a “finalized arrangement” for a Monday registration existed is a procedural hallucination; one cannot join a new house without first stepping out of the old one.
​Furthermore, the narrative suggests the Governor’s plans were shelved because he failed to seek the “blessings” of local APC bigwigs. This is a laughable distortion of executive power. History is replete with Governors who defected based on executive conviction without the interference of local APC “big wigs.” We have seen this with the Governor of Delta vs. Senator Omo-Agege, the Governor of Bayelsa vs. David Lyon and Minister Heineken Lokpobiri, the Governor of Rivers vs. Nyesom Wike, and the Governor of Plateau vs. the current National Chairman of the APC. More recently, the defections of Governors like Dave Umahi (Ebonyi), Ben Ayade (Cross River), and Bello Matawalle (Zamfara) proved that when a Governor moves, he does so as the new leader of the party in his state. It is also historically hypocritical to label such a move as “betrayal.” When Rabiu Musa Kwankwaso defected from the PDP to the APC in 2013, he did not seek permission from any person or leadership—he led a rebellion based on his own conviction. If it was “principled politics” for the godfather then, it cannot be “betrayal” for the Governor now.

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​What, then, remains for a Governor who already holds the overwhelming mandate of his people? It is a known fact that Governor Abba Yusuf moves with the ironclad support of almost 95% of the Kano State House of Assembly, 50% of the National Assembly members from the state, all 44 Local Government chairmen, and the entire grassroots party structure. The desperate attempt by the NNPP National Working Committee to dissolve the Kano executive committees is a futile, “too-late” maneuver that only confirms their loss of control. When a Governor commands such total loyalty, he does not ask for permission; he leads. The defection of Governor Abba Kabir Yusuf is inevitable if he so wishes, as he carries the entire political soul of Kano with him.
​The theory that the APC postponed this move because Senator Kwankwaso is not coming along simply does not hold water. Kwankwaso’s refusal to join the APC is a settled matter; it is alleged the President offered him a ministerial position or the Chairmanship of the soon-to-be resuscitated Petroleum Trust Fund (PTF), both of which he rejected after his demand to join the Presidential ticket was denied. Using this stalemate as a pretext for the Governor’s “indecision” is a transparent lie aimed at making the Governor look like a political appendage. It is disheartening to see Daily Nigerian abandon objective journalism to frame the Governor as a “betrayer.” If Governor Abba Yusuf chooses to move, he does so as a leader of a massive political movement. The media must stop concocting stories to mislead the public. Governor Abba Kabir Yusuf remains focused on his mandate. These rumors are merely the desperate gasps of those who wish to see Kano in perpetual turmoil.

​Ahmed Badamasi Tsaure writes from Shanono Local Government, Kano State. He can be reached at ahmedtsaure28@gmail.com.

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