Editorial

Friday, 16 August 2024 04:53

Editorial: The N21m salary and brazen plunder by Nigeria’s legislators

The recent revelation that each Nigerian senator earns a staggering N21 million monthly is not just another story of excessive greed; it is a scandalous indictment of the country's political class. In a nation where millions of citizens struggle to survive on a minimum wage of N30,000 per month, the fact that these so-called public servants are siphoning off resources at such a grotesque scale is nothing short of robbery. This shocking figure, disclosed by Senator Kawu Sumaila, lays bare the extent of the rot within Nigeria's political elite. Each senator, according to Sumaila, pockets N21 million monthly in running…

Wednesday, 14 August 2024 04:47

Editorial: Urgent action needed to combat antibiotic resistance in Nigerian newborns

The recent study revealing that babies in Nigeria are being born with antibiotic-resistant bacteria is a alarming wake-up call that demands immediate and decisive action from the Nigerian government. This crisis not only threatens the lives of Nigeria’s most vulnerable citizens but also poses a significant risk to public health and the future of medical treatment in the country. To address this critical issue, the government must take the following steps: 1. Ban agricultural use of critical antibiotics: The government must immediately prohibit the use of colistin and other critically important antibiotics in livestock farming. This ban should be strictly…

Tuesday, 13 August 2024 04:53

Editorial: UK must honor BASA agreement with Nigeria - a call for fair air access

The ongoing dispute between Nigeria and the United Kingdom over Air Peace's access to London Heathrow Airport highlights a critical issue of fairness and reciprocity in international air travel agreements. The UK's consistent denial of slot allocation to Air Peace at Heathrow, despite the airline's persistent efforts, stands in stark contrast to the open access British carriers have long enjoyed to Nigeria's primary airports in Lagos and Abuja. This situation not only violates the spirit of the Bilateral Air Services Agreement (BASA) between the two nations but also threatens to escalate into a diplomatic row with potential economic consequences for…

Monday, 12 August 2024 04:44

Editorial: Tinubu's troubling trend of misinformation

President Bola Tinubu's recent mischaracterization of a World Bank loan as a federal grant to states is not just a simple slip of the tongue—it's part of a disturbing pattern of misinformation emanating from the highest office in the land. This latest incident, where the President claimed credit for "releasing" N570 billion to states for livelihood support, only to be contradicted by governors from both the ruling and opposition parties, is a stark reminder of the growing credibility crisis facing this administration. In a time when Nigerians are grappling with severe economic hardship, the President chose to present a pre-existing…

Friday, 09 August 2024 04:49

Editorial: Wale Edun’s statistical errors and false narratives on fuel subsidy

The recent comments by Nigeria's Minister of Finance and Coordinating Minister of the Economy, Wale Edun, regarding the removal of the fuel subsidy display a concerning lack of understanding of the real-world implications for the Nigerian people. Edun's claim that "the poorest of 40 percent was only getting four percent of the value" of the fuel subsidy is simply not supported by the facts. According to official figures by both the Federal Road Safety Commission and the Nigeria Bureau of Statistics, commercial vehicles - used by low-income Nigerians for essential daily commutes - account for over 50% of the country's…

Thursday, 08 August 2024 05:05

Editorial: Stemming the tide of oil theft through performance targets for security chiefs

The recent revelation by Chief of Naval Staff Emmanuel Ikechukwu Ogalla that Nigeria's crude oil output has increased to between 1.6 and 1.7 million barrels per day is a welcome development. This improvement, attributed to enhanced security measures, underscores the critical role of effective law enforcement in safeguarding the nation's most valuable resource. However, it also serves as a stark reminder of the persistent challenge of crude oil theft that has plagued Nigeria for far too long. The fact that increased surveillance and enforcement can yield such significant results – a rise from 1.2 million barrels per day in February…

Monday, 05 August 2024 04:50

Editorial: #EndBadGovernance: Tinubu's Address falls short amid national crisis

As Nigeria grapples with widespread protests and economic turmoil, President Bola Tinubu's address yesterday Sunday August 4th to the nation was a stark reminder of the disconnect between leadership and the citizenry. The president's speech, delivered after three days of intense demonstrations, failed to address the core issues that have driven Nigerians to the streets in desperation and anger. The protests, which began on August 1st, were sparked by a perfect storm of economic hardships: the removal of fuel subsidies, the drastic devaluation of the Naira, and the resulting spike in the cost of living. Nigerians, already struggling under the…

Thursday, 01 August 2024 04:55

Editorial: ‘Let them eat cake’: Akpabio’s callous mockery of hunger protesters

In a shocking display of callousness and disconnect from the plight of ordinary Nigerians, Senate President Godswill Akpabio has mocked citizens planning to protest against economic hardship, stating that he and his colleagues would be "eating" while the people demonstrate. This Marie Antoinette-esque remark comes at a time when millions of Nigerians are struggling to put food on their tables, highlighting the vast chasm between the ruling class and those they purport to serve. Akpabio's flippant comment, made during a conference in Port Harcourt, reveals a disturbing lack of empathy and understanding of the dire situation facing many Nigerians. As…

Wednesday, 31 July 2024 04:51

Editorial: Naira crude oil sales: A step in the right direction, but not far enough

The federal government's recent mandate for the Nigerian National Petroleum Company (NNPC) Limited to sell crude oil to Dangote Petroleum Refinery and other local refineries in Naira is a commendable move towards stabilizing the nation's currency and reducing pressure on foreign exchange reserves. However, this policy, while progressive, falls short of addressing the full scope of Nigeria's refining challenges and economic needs. The decision to supply four out of the 15 cargoes required by Dangote Refinery in Naira is a positive start, but it represents only 27% of the refinery's needs. This limited scope leaves significant room for improvement. To…

Tuesday, 30 July 2024 04:57

Editorial: Nigeria's oil sector: A ticking time bomb of missed opportunities

The recent revelation that Nigeria's oil sector received zero foreign investment in the first quarter of 2024 is a stark reminder of the deep-rooted issues plaguing the country's most crucial economic sector. This alarming development, as reported by the National Bureau of Statistics, is not an isolated incident but rather the culmination of years of decline in foreign capital inflow to the industry. The oil sector's fall from grace is nothing short of catastrophic. From attracting $720 million in foreign investments in 2016, the industry has witnessed a precipitous decline, managing to secure a mere $3.64 million in the entire…

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Monday, 29 July 2024 04:51

Editorial: The right to protest and the quest for good governance

In the face of mounting economic hardship and political frustration, Nigerian youths have taken a courageous stand by organizing nationwide protests scheduled to begin on August 1st. This editorial strongly supports their right to peaceful demonstration and argues that such action is not only justified but necessary for the future of our nation. The current state of affairs in Nigeria is untenable. With inflation at a 28-year high of 34.2%, millions of citizens are struggling to meet their basic needs. The removal of fuel subsidies and currency devaluation have created immediate and severe hardships for the average Nigerian. It is…

Wednesday, 24 July 2024 05:12

Editorial: CBN’s Interest Rate hike: A misguided approach to inflation control

The Central Bank of Nigeria's (CBN) decision, yesterday, to hike its benchmark interest rate to 26.75%—the fourth such increase this year—highlights a persistent adherence to conventional economic models that fail to address the unique underlying factors driving inflation in Nigeria. Despite the CBN's efforts, inflation has surged to a 28-year high, exacerbating the economic challenges faced by ordinary Nigerians. Governor Olayemi Cardoso justified the rate hike by emphasizing the need to tackle rising inflation, which has now reached an alarming 34.19% in annual terms as of June. The governor acknowledged that while monetary policy has aimed to moderate aggregate demand,…

Tuesday, 23 July 2024 04:30

Editorial: Dangote Refinery: FG’s failures and Aliko’s tantrums

The public spat between Aliko Dangote, Africa's richest man and owner of the Dangote Refinery, and various agencies of the Nigerian Federal Government has brought to the fore critical issues in Nigeria's industrial policy and business environment. This dispute, centered around crude oil supply, product quality, and allegations of monopolistic practices, reveals deeper challenges in Nigeria's quest for economic diversification and energy security. Firstly, the failure of the Nigerian National Petroleum Company Limited (NNPC) to fulfill its commitment of supplying 300,000 barrels of crude oil per day to the Dangote Refinery is a significant concern. This shortfall not only hampers…

Monday, 22 July 2024 04:40

Editorial: Tinubu’s rice palliative and the mathematics of misery

In a country grappling with multidimensional poverty affecting 133 million of its citizens, the Federal Government's recent announcement of distributing 740 truckloads of rice across Nigeria's 36 states and the Federal Capital Territory (FCT) is not just inadequate—it's an insult to the intelligence and dignity of Nigerians. Let's break down the numbers: Each 25kg bag of rice, when cooked, feeds approximately 100 people one meal. The government's “grand gesture” amounts to 20 trucks per state, each carrying 1,200 bags. This translates to a single meal for 2.4 million people per state, or a total of 88.8 million meals nationwide. At…

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