Andrew G. Onokerhoraye's autobiography, "The Riches of His Grace," is a captivating and eventful life story that offers a thoughtful reflection on the author's experiences, challenges, and triumphs. The book is a testament to the riches of God's grace, which has been abundant and lavish in the author's life. The author's motivation to write his autobiography came from his friends, who recognized the value of his life story and its potential to inspire others. Despite initial hesitation, Onokerhoraye decided to write his autobiography to capture the intimate details, nuances, and landmarks in his life.

The autobiography is written through the frame of the Holy Scriptures, "the riches of His grace" referring to the abundant and infinite nature of God's grace, demonstrated through His kindness and generosity towards us in Christ Jesus. Some of the key aspects of the riches of God's grace include the following: the riches of God's grace are limitless and overflowing, surpassing our understanding and needs; through Christ's blood, we receive redemption and forgiveness of sins, according to the riches of God's grace; the riches of God's grace reveal His generous and loving nature, demonstrating His glory and goodness; God's grace is lavished upon us, not because we deserve it, but because of His abundant love and kindness; the  riches of God's grace include spiritual blessings, such as adoption as God's children, the indwelling of the Holy Spirit, and access to God through prayer; and finally the riches of God's grace ultimately lead to eternal life with God, a gift that surpasses our understanding and is available through faith in Christ Jesus. Reading through this autobiography, Onokerhoraye’s life experiences either directly or implicitly through inferences match these six categories of the riches of God's grace: (1) Redemption and forgiveness. (2) God's character. (3) Lavished upon us. (4) Spiritual blessings. (5) Eternal life. (6) God's kindness and generosity.

Structure and Content

The autobiography is divided into five sections, each focusing on a different aspect of the author's life. The first section traces his life story from his humble beginnings in a remote village to his rise as a professor and university administrator. The second section focuses on his teaching, research, and public service, while the third section highlights his contributions to university governance. The fourth section explores the application of his research training and capability to building a Think Tank, and the final section expresses gratitude to his family, friends, associates, and partners.

Themes and Reflections

Throughout the autobiography, Onokerhoraye reflects on the riches of God's grace, which has been evident in his life. He writes about the challenges he faced, the opportunities he received, and the lessons he learned. He also acknowledges the role of providence and good fortune in his life, demonstrating his humility and gratitude. The autobiography offers valuable lessons for the young and old, highlighting the importance of focus, discipline, and determination in pursuing education and succeeding in life. Onokerhoraye's life story serves as a model for those seeking inspiration and guidance.

The author's writing style is engaging, and his use of language is rich and descriptive. He shares his experiences with vulnerability and honesty, making the book a relatable and authentic read. One of the strengths of the autobiography is its ability to convey the author's passion for education, research, and public service. His commitment to making a positive impact in the lives of others is evident throughout the book. The autobiography also highlights the importance of relationships and community in the author's life. He expresses gratitude to his family, friends, and associates who have supported him throughout his journey. Overall “The Riches of His Grace" is a captivating and inspiring autobiography that offers a glimpse into the life of Onokerhoraye. The book is a testament to the power of God's grace and the importance of reflecting on one's experiences, challenges, and triumphs. It is a valuable resource for anyone seeking inspiration, guidance, and encouragement.

Intersectional Confluence: A Tale of Two Professors

In reading the autobiography of Onokerhoraye, I found an intriguing intersectionality and confluence of differences and similarities in our educational and professional careers. Despite distinct paths, our journeys reveal remarkable parallels, underscoring the power of shared experiences and intellectual roots. We both attended a Grade II Teacher Training College and entered the University of Ibadan through the GCE channel. We both chose geography as our undergraduate degree program, influenced by Akin Mabogunje's scholarship and achievements. Both recognized gaps in our understanding of urban systems as articulated in Mabogunje’s 1968 boon on Urbanization in Nigeria and addressed them in graduate school. We both embraced the development ethos in our research and writing. We both returned to the University of Ibadan after doctoral studies.

Our careers diverged in several ways. Onokerhoraye focused on geography and planning, while Megbolugbe delved deeper into economics and finance. Our career trajectories took different turns, with Onokerhoraye working at NISER and the University of Benin, and Megbolugbe joining Florida State University and later Fannie Mae, PricewaterhouseCoopers and Johns Hopkins University. Despite divergent paths, our careers converged in consulting, executive management, think tanks, and philanthropy. We were also born within the same decade, also retired within the same decade, our careers were anchored by research, teaching and lifelong learning.

This later narrative in my review highlights the significance of intersectionality and confluence in understanding the complexities of individual experiences. The parallels and divergences in the careers of Onokerhoraye and Megbolugbe serve as a testament to the power of shared intellectual roots in being grounded in the study of social science by our founding fathers including A.L. Mabogunje, Ojetunji Aboyade, Francis Okediji, R.K. Udo and E, Essien-Udom and the value of diverse perspectives.

Rating: 5/5 stars

Recommendation: This book is highly recommended for anyone interested in memoirs, autobiographies, and stories of inspiration and triumph.

** Review by: Isaac Megbolugbe, who is a retired professor from Johns Hopkins University and a fellow student and mentee with Onokerhoraye of the Late Emeritus Professor Akin Mabogunje at the University of Ibadan. Isaac resides in the United States of America.

The Nigerian economy has entered a period of severe hardship, marked by rapidly increasing poverty and hunger. This is driven by a complex combination of domestic economic challenges, policy choices, and external factors. The country's transition into deeper multidimensional poverty—where 133 million Nigerians were classified as such by the National Bureau of Statistics (NBS) in 2022—has been further compounded by the Bola Tinubu administration's policies, which have exacerbated inflationary pressures and eroded purchasing power. A combination of economic mismanagement, external shocks, and poor governance has resulted in significant devaluation of the Naira, skyrocketing fuel prices, and surging inflation, all of which continue to push more Nigerians into the poverty trap.

Naira Devaluation and Its Effects on Poverty

One of the most severe blows to the Nigerian economy has been the rapid depreciation of the Naira. Since President Bola Tinubu took office in May 2023, the Naira has fallen from N465/$ to N1,700/$ in the parallel market—a more than 70% loss in value . This drastic depreciation has not only diminished the purchasing power of Nigerians but also led to inflationary pressures that have particularly hurt the poor.

The reasons for the Naira's decline are multi-faceted. Nigeria remains heavily dependent on oil exports for foreign exchange, yet oil production has been severely constrained due to widespread theft and declining output. Furthermore, Nigeria’s future oil earnings are increasingly tied up in debt obligations, reducing the inflow of foreign exchange needed to stabilize the currency. The government’s decision to float the Naira in hopes of attracting foreign investment backfired, as it created more volatility without bringing in the expected influx of foreign capital.

This loss of value has translated directly into higher import costs, especially for essential goods like food and fuel, both of which are highly dependent on imports. The manufacturing sector has been hit hard, as many industries rely on imported raw materials. This has led to higher production costs and a subsequent rise in the prices of manufactured goods. As manufacturers struggle to stay afloat due to the scarcity of foreign exchange and rising energy costs, many have been forced to reduce operations, leading to layoffs and further weakening consumer demand.

Rising Fuel Prices and the Energy Crisis

The removal of fuel subsidies, which saw petrol prices soar from N187/litre to N1,000/litre, has been another key factor driving poverty and social unrest. With petrol being a critical input not just for transportation but also for electricity generation—due to Nigeria’s unreliable power grid—the increase in fuel prices has had a cascading effect across the economy. Transportation costs have surged, driving up the price of food and other essential goods, and businesses, particularly small enterprises, have struggled to cope with the added operational costs.

The government’s decision to end fuel subsidies aligned with IMF and World Bank policies aimed at market liberalization, but the timing and execution have worsened living conditions for the average Nigerian. The policy change was intended to free up government revenues for more productive uses, but in the absence of a social safety net, the poor have borne the brunt of the cost increases. Furthermore, the expectation that the Dangote Refinery would lower fuel costs has been met with delays and uncertainties. Even when operational, the refinery’s ability to stabilize fuel prices is constrained by broader issues like exchange rate volatility and global oil market dynamics.

Inflation and Food Insecurity

Nigeria's inflation has risen sharply from 22.4% when Tinubu took office to 32.15% by August 2024. The country is caught in a vicious cycle of rising costs, reduced economic activity, and declining consumer demand. High inflation has been driven by several key factors:

1. Monetary policy and high interest rates: The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) to 27.25% in a bid to control inflation, but this has only made borrowing more expensive for businesses, particularly manufacturers. The resulting slowdown in production has led to supply shortages, which in turn have driven up prices.

2. Agricultural disruptions and food inflation: Food inflation has been particularly damaging, especially for the poor, who spend a significant portion of their income on food. Nigeria’s agricultural sector has been hit by insecurity, particularly in the northern regions, where insurgency and banditry have disrupted farming activities. This has led to reduced output and higher food prices, with no immediate solution in sight. Additionally, Nigeria loses up to 50% of its agricultural produce post-harvest due to poor infrastructure and storage facilities, exacerbating food shortages.

3. Currency depreciation: As the Naira has continued to fall, the cost of imported food and agricultural inputs has risen, putting further pressure on food prices. Smuggling of essential goods like food across Nigeria’s porous borders into neighboring countries has also contributed to domestic shortages and price hikes.

The Outlook: No Relief in Sight

Given the current trajectory of the Nigerian economy, there is little hope that poverty and hunger will abate any time soon. Several structural challenges will continue to prevent any meaningful economic recovery in the short or medium term:

- Dependence on imports and a weak manufacturing base: As long as Nigeria remains dependent on imported goods, including fuel and food, the country will continue to be vulnerable to global price fluctuations and exchange rate volatility. The lack of a robust manufacturing sector limits the ability of the economy to generate foreign exchange, exacerbating the currency crisis and perpetuating poverty.

- Foreign exchange shortages: The scarcity of foreign exchange will continue to drive up the cost of imports and fuel inflation. The government’s limited ability to intervene in the currency market means that the Naira is unlikely to stabilize without substantial foreign investment or an increase in oil production, both of which seem unlikely in the near term.

- Persistent inflation: The underlying causes of inflation—high energy costs, supply-side disruptions, and currency depreciation—show no signs of abating. Without significant policy interventions, such as improving agricultural productivity, stabilizing the currency, and addressing insecurity, inflation will remain a persistent challenge, further eroding living standards.

In conclusion, Nigeria's current economic policies, combined with external shocks, are deepening the country’s poverty and hunger crises. The devaluation of the Naira, high fuel prices, inflation, and a struggling manufacturing sector have all contributed to worsening living conditions for millions of Nigerians. Unless major reforms are designed and implemented to address these structural challenges, the prospects for poverty alleviation in Nigeria remain grim.

Nigeria’s import bills on used vehicles, popularly known as ‘tokunbo’, fell by 83 per cent year-on-year to N138.62 billion in the first half of the year, from N819.15 billion in H1’23.

Quarter-on-quarter, a breakdown of the National Bureau of Statistics (NBS) for the review period showed that in Q1 ’24 no used vehicle was imported compared to N69.23 billion worth of used vehicles that were imported in Q1’23.

In Q2’24, the value of imported used vehicles was N138.62 billion, representing an 81.5 per cent decline YoY from N749.92 billion in Q2’23.
NBS noted that the used vehicles were imported mainly from the United States of America, stating: “On the other hand, total imports from America in Q2’24 were N971.84 billion.

Recall that last year, the federal government introduced a new set of taxes on imported vehicles, among other things. The new tax regime stipulates that imported vehicles between 2000 capacity (two litres) and 3999 capacity (3.9 litres) engine would pay an additional charge known as Import Adjustment Tax (IAT) levy of two per cent of the value of the vehicle, while vehicles with 4000 capacity (four litres) and above engines would attract IAT of four per cent of their value.

The new levy is in addition to the 35 per cent import duty and 35 per cent levy being paid by importers of vehicles. However, vehicles below 2000cc, mass transit buses, electric vehicles, and locally manufactured vehicles are exempted from the IAT levy.

The government also revised the import prohibition list with the inclusion of used motor vehicles above 12 years from the year of manufacture.

The Guardian

The Federal Government says it has removed Value Added Tax (VAT) on diesel, cooking gas, among others.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this while unveiling two major fiscal incentives, on Wednesday.

A statement by the Director, Information and Public Relations at the Ministry of Finance, Mohammed Manga, said the incentives are aimed at revitalising Nigeria’s oil and gas sector.

The incentives include value-added tax (VAT) modification order 2024 and notice of tax incentives for deep offshore oil and gas production, in accordance with the Oil and Gas Companies (tax incentives, exemption, remission, etc.) Order 2024.

The statement said: “The VAT Modification Order 2024 introduces exemptions on a range of key energy products and infrastructure, including Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment. These measures are designed to lower the cost of living, bolster energy security, and accelerate Nigeria’s transition to cleaner energy sources.

“In addition, the Notice of Tax Incentives for Deep Offshore Oil & Gas Production provides new tax reliefs for deep offshore projects. This initiative is aimed at positioning Nigeria’s deep offshore basin as a premier destination for global oil and gas investments.

“These reforms are part of a broader series of investment-driven policy initiatives championed by His Excellency, President Bola Ahmed Tinubu, in line with Policy Directives 40-42. They reflect the administration’s strong commitment to fostering sustainable growth in the energy sector and enhancing Nigeria’s global competitiveness in oil and gas production.”

Manga added: “With these bold initiatives, Nigeria is firmly on track to reclaim its position as a leader in the global oil and gas market.

“These fiscal incentives demonstrate the administration’s unwavering commitment to fostering sustainable growth, enhancing energy security, and driving economic prosperity for all Nigerians.”

Daily Trust

Israel strikes heart of Beirut, killing six

Israel bombed central Beirut in the early hours of Thursday, killing at least six people, after its forces suffered their deadliest day on the Lebanese front in a year of clashes against Iran-backed armed group Hezbollah.

Israel said it conducted a precise air strike on Beirut. Reuters witnesses reported hearing a massive blast, and a security source said it targeted a building in central Beirut's Bachoura neighbourhood close to parliament, the nearest Israeli strikes have come to Lebanon's seat of government.

At least six people were killed and seven wounded, Lebanese health officials said. A photo being circulated on Lebanese WhatsApp groups, which Reuters could not immediately verify, showed a heavily damaged building with its first floor on fire.

Three missiles also hit the southern suburb of Dahiyeh, where Hezbollah leader Hassan Nasrallah was killed last week, and loud explosions were heard, Lebanese security officials said. The southern suburbs came under more than a dozen Israeli strikes on Wednesday.

A day after Iran fired more than 180 missiles into Israel, Israel said on Wednesday eight soldiers were killed in ground combat in south Lebanon as its forces thrust into its northern neighbour.

The Israeli military said regular infantry and armoured units joined its ground operations in Lebanon on Wednesday as Iran's missile attack and Israel's promise of retaliation raised concerns that the oil-producing Middle East could be caught up in a wider conflict.

Hezbollah said its fighters engaged Israeli forces inside Lebanon. The movement reported ground clashes for the first time since Israeli forces pushed over the border on Monday. Hezbollah said it had destroyed three Israeli Merkava tanks with rockets near the border town of Maroun El Ras.

Israeli Prime Minister Benjamin Netanyahu, in a condolence video, said: "We are at the height of a difficult war against Iran's Axis of Evil, which wants to destroy us.

"This will not happen because we will stand together and with God's help, we will win together," he said.

Lebanon's health ministry said Israeli air raids killed at least 46 people in the south and centre of the country over the past 24 hours.

Iran said on Wednesday its missile volley - its biggest ever assault on Israel - was over barring further provocation, but Israel and the United States promised to hit back hard.

U.S. President Joe Biden said he would not support any Israeli strike on Iran's nuclear sites in response to its ballistic missile attack and urged Israel to act "proportionally" against its regional arch-foe.

Biden joined a call with Group of Seven major power leaders on Wednesday to coordinate a response, including new sanctions against Tehran, the White House said.

Hezbollah said it repelled Israeli forces near several border towns and also fired rockets at military posts inside Israel.

The paramilitary group's media chief Mohammad Afif said those battles were only "the first round" and that Hezbollah had enough fighters, weapons and ammunition to push back Israel.

Israel's addition of infantry and armoured troops from the 36th Division, including the Golani Brigade, the 188th Armoured Brigade and 6th Infantry Brigade, suggested that the operation might expand beyond limited commando raids.

The military has said its incursion is largely aimed at destroying tunnels and other infrastructure on the border and there were no plans for a wider operation targeting the Lebanese capital Beirut to the north or major cities in the south.

1.2 MILLION LEBANESE DISPLACED

Nevertheless, it issued new evacuation orders for around two dozen towns along the southern border, instructing inhabitants to head north of the Awali River, which flows east to west some 60 km (37 miles) north of the Israeli frontier.

More than 1,900 people have been killed and over 9,000 wounded in Lebanon in almost a year of cross-border fighting, with most of the deaths occurring in the past two weeks, according to Lebanese government statistics.

Caretaker Prime Minister Najib Mikati said that about 1.2 million Lebanese had been displaced by Israeli attacks.

Malika Joumaa, from Sudan, was forced to take shelter in Saint Joseph's church in Beirut after being forced from her house near Sidon in coastal south Lebanon with her husband and two children.

"It's good that the church offered its help. We were going to stay in the streets; where would we have gone?"

Iran described Tuesday's missile assault as a response to Israeli killings of militant leaders, including Nasrallah, attacks in Lebanon against the group and Israel's war against Palestinian Hamas militants in Gaza.

There were no casualties from the missile onslaught in Israel, but one person was killed in the occupied West Bank.

Reuters

RUSSIAN PERSPECTIVE

Drones now capable of missions that used to be assigned exclusively to planes — Putin

Modern-day drones can perform missions that only combat planes used to be able to take on, Russian President Vladimir Putin said as he met with college students majoring in drone technology.

The president held the meeting at the Rudnevo industrial park, where Moscow-based colleges hold professional training for students studying how to assemble and operate drones. The students told Putin about their inventions and skills.

"Modern unmanned aerial vehicles are gradually but fundamentally changing the principles of military operations," Putin said. "They can gain greater speed, their engines are becoming very powerful, and their range is increasing."

He said drones made by the Russian defense industry can now travel at a speed of up to 700 km/hour.

"And they can perform missions that only army, combat aviation used to be able to perform before," the president said.

He also pointed to the ability of modern drones to "confront larger aircraft."

"It's just a different equipment and a completely different life in aviation. It's very promising," the president said.

He thanked the students for what they are mastering UAV technologies that will save the lives of people engaged in the special military operation.

WESTERN PERSPECTIVE

Russian guided bomb hits apartment building in Ukraine's Kharkiv, injures 10

A Russian guided bomb struck a five-storey apartment block in Kharkiv, Ukraine's second largest city, late on Wednesday, starting fires and injuring at least 10 people, local officials said.

President Volodymyr Zelenskiy said the strike, the latest in a long series of attacks on the city, underscored the need for more help from Ukraine's Western backers. He pointed to Iran's strike on Israel as an example of allies working together.

He said that in order to stop Russian strikes, "Ukraine must receive the necessary, and most importantly, sufficient help from the world, from our partners.

"Every leader knows exactly what needs to be done. It's important to be decisive," Zelenskiy said in a posting on the Telegram messaging app.

Kharkiv regional governor Oleh Syniehubov said the bomb hit between the third and fourth floors of the building in the city's Saltivka district.

"Several floors have been destroyed. An apartment by apartment search is under way. People could be under the rubble," Syniehubov said in a video posted online.

Pictures posted online showed cars ablaze outside the apartment block and firefighters making their way through smoke rubble to get inside the building. Kharkiv Mayor Ihor Terekhov put the injury toll at 10, including a three-year-old child. He said guided bombs had struck two city districts.

Located 30 km (18 miles) from the Russian border, Kharkiv has been a frequent target of Russian forces throughout the more than 2-1/2-year-old war.

In Kyiv, the head of the capital's military administration said fragments from a downed Russian drone damaged an apartment building in one of the capital's eastern districts. There was no indication of any casualties.

Russia denies targeting civilians, but has regularly struck towns and cities behind the front line.

In his nightly video address, Zelenskiy referred to the help the United States and other partners provide Israel to fend off attacks.

"Every time in the Middle East, during criminal Iranian strikes, we see how the international coalition acts together," he said, echoing comments he made during an April raid launched by Iran on Israel.

Zelenskiy also issued the latest of a series of calls for more help to be agreed at a meeting this month in Germany devoted to providing Ukraine with military assistance. U.S. President Joe Biden is to attend the meeting.

Tass/Reuters

In the previous article I wrote regarding popular crossdresser and transgender Bobrisky, real name; Idris Okuneye, I suggested that if there is a way her antics have proved useful, it is how much they manage to reveal us to us. Well, Bobrisky did it again when she became a topic at the National Assembly. Credit goes to her for showing the vapidity of our lawmakers. Not that we did not already know they are essentially overpaid harlequins, but watching the whole drama of their inviting a social media clout chaser―who shows up accompanied by another clown cosplaying “native doctor” to a purported investigative panel―confirmed the institution they represent as perhaps irretrievably degraded.

What were the lawmakers expecting when they summoned someone who had merely released a taped conversation? This character did not put any skin in the game; he did not embark on fact-finding to get the information. The expose was merely a dialogue between supposed friends that someone had passed him to blackmail Bobrisky to pay a debt. Already obsessed with Bobrisky, he decided to release the tape to the public even after the debt was cleared. That is the character lawmakers summoned to the “hallowed chamber.” They did not stop there; they also invited Bobrisky; who had enough sense not to show up. What exactly were they trying to achieve by bringing those two together to face off? Is the NASS now Kókóró Aláte?

Look, I get it. They wanted to respond to the Bobrisky case considering the public interest the leaked tape elicited, but was that how to go about it? Their unserious approach shows how poorly they think of their constitutional powers and their moral duty. If they are interested in reforming our carceral system, I am sure they will find serious research conducted by serious people at the libraries of either NIPSS in Kuru, Jos, or the various think tanks in the country. Why ignore all that to pursue a social media “influencer”? It is not as if anything that has been revealed so far is new information. We were all here in December last year when the National Correctional Service, the DSS, and the EFCC publicly fought over who should have custody of the former CBN governor, Godwin Emefiele. Why would three agencies be jostling over the detention of a rich inmate if not because they see him as an opportunity?

In 2019, investigative journalist Fisayo Soyombo published his investigation into the rot that typifies the Nigerian prison system. This was someone who actually got himself incarcerated just to substantiate his allegations of corruption in the Nigerian prison system. If the NASS needed to summon a person who had experienced how degenerate the prison system had become, it should have been him. Why overlook those who have committed sincere efforts towards researching these issues to run after those whose interest in this matter is not even skin deep? These are people who have turned the internet into a job, and all of this is just another show to tickle an idle followership.

To be clear, I am not against a diligent investigation into the issue. Yes, both the EFCC and the correctional service ought to be investigated with an eye toward reforms. I also think that the procedure for getting presidential pardons needs to be reviewed. The category of people who receive presidential pardons in Nigeria has always been suspicious anyway. As commonplace as the allegations that emanated from Bobrisky’s leaked tape are, they are still grievous enough to warrant a diligent investigation. What is entirely unacceptable is the frivolity of the lawmakers’ inviting social media figures―who are constantly at loggerheads―to confront each other. By also inviting a crowd of journalists, and televising the encounter, they reduce a grave matter of institutional collapse to mere entertainment. Those kinds of issues are best resolved by confronting the liable institutions, not individuals whose roles are merely symptomatic of the larger systemic rot.

For me, the matter is worth investigating given the role of the EFCC and the alleged N15m bribe. Their self-justification regarding why they dropped the money laundering charges against Bobrisky was more scandalising because of what it revealed about them and their investigation process. According to an EFCC prosecutor, Bilikisu Bala, who claimed the money laundering against Bobrisky was rightfully dropped, they had charged her based on her confessional statement that her firm, Bob Express, was not registered with SCUML and was not rendering returns to the organization. Now, that part piqued my interest.

So, it was not like there was any report that warranted their arresting Bobrisky and charging her with money laundering in the first place. They arrested her, and seeing as how the Naira mutilation offense―for which she was eventually imprisoned―was too cheap to convince the public of the necessity of their actions, they pressed her into some self-disclosure, and then proceeded to charge her with an offense based on her own words! Let me say that again. Prior to the arrest, they had nothing substantial against Bobrisky. But they thought that if they detained her and shook her well enough in their custody, one or two things that could be used against her in the court would eventually fall off.

Now, there is a possibility that even though they finally realised that the case of money laundering would not sail, some of their men still went ahead and used the charges to extort money from her. Since she might not have realised there was no evidence whatsoever to charge her with money laundering, they took advantage of the knowledge gap to demand a bribe. So, when their prosecutor Bala said the money laundering charges were “legally” dropped, he was not exactly lying. There was never a basis for them in the first place but were necessary because the EFCC was desperate to charge Bobrisky with an offense so sensational that it would obscure the very thing about her that was paining them: her sexuality.

If that was exactly how it happened, then it explains a lot about why the EFCC has been an ineffective institution; they are so crooked that they cannot stand straight on any issue at any time. When you see the EFCC chairman, Olu Olukayode, wringing his fingers and moaning about how they opened a “backdoor” for former Kogi governor Yahaya Bello, just know that it is not the way the law was worded that constricts their initiative on Bello. Where else does it happen that an investigating agency needs the cooperation of an accused to do their job to the extent they would practically be begging for the attention of the person they are supposed to prosecute? After months of EFCC’s whining, Bello finally walks into their headquarters and walks out while the officials look on like a headless mannequin in a lingerie store. They were paralyzed by their own lack of moral backbone. Shame!

We have no objective evidence of who demanded the money from Bobrisky and how it was shared, but there are enough details from the tape to convince anyone who has been paying attention to the pattern of things that the accusation could not have been false. No one prompted Bobrisky to rant, so why would she have lied against the EFCC in a tape she did not know would leak? Also, considering that aspects of her story—particularly the part about staying in a private prison—have been confirmed by prison officials, the part about the EFCC is most likely true as well. In any case, the only reason people are excited by this is Bobrisky. Nothing about this scandal is new. While one cannot control what topics people chinwag on social media, should lawmakers not be too serious to give institutional gravitas to every silliness?

Punch

Sho Dewan

Leaders are not born, they’re made. It may sound cliché but it’s true, as leadership is a skill that can be cultivated through experience, learning, and adaptability. Managers play a huge role in their team’s success, as employees reporting to effective managers are 15 times more likely to be high performers, according to a Gartner survey.

Whether you’re navigating your first team meeting or making critical decisions, the first days in the role could be overwhelming. To help you find your footing in this new realm, here are three tips to guide you through and shape your path to success.

Be Transparent With The Team

As a new manager, trust is among the most important things to have within your team, and it is built through transparency. Start with having open and honest communication with the team. Share with them relevant information about team goals, company updates, and changes that may impact them. Be clear about what you know and what you don’t know.

Jessica Chen, the author of the bestselling communications book, “Smart, Not Loud: How to Get Noticed at Work for All the Right Reasons” shares in her book how being transparent and proactive can also help bolster your credibility. And she’s an expert at doing so herself, as it was her personal branding & leadership posts on LinkedIn that led me to get connected with her in the first place!

When speaking to her about her experience working with new managers, she shared this lesson: “If we face tricky conversations at work, it’s important not to hide or avoid it. Instead, the best managers stop and think about what went wrong, when things went wrong, and how to communicate it with tact.”

“In fact, building credibility has nothing to do with your title or number of years worked. It is something that is proactive and top of mind,” Chen added.

This also means that new managers need to be comfortable with their team asking questions and providing feedback. Show that you value their input by listening and responding to them, but remember that you don’t have to implement every single one.

Some people prefer to “Fake It ‘Til You Make It”, but don’t make this the case for yourself. Pretending to be someone you’re not can prevent you from building strong and genuine relationships needed for effective collaboration.

Lead With Actions

Walking the talk when giving instructions and encouragement to your team establishes credibility and respect for you as their manager. You have to demonstrate the values, behaviors, and standards that you expect from them. If you commit to something, for example, a deadline, make sure to follow through. Consistently delivering on your promises shows reliability and integrity.

Taking responsibility, especially when things go wrong, is a mark of a strong leader. Making mistakes is not inevitable, but you must own up to them and apologize if necessary. But also make sure to have a game plan for resolving it. This will show your team that it’s safe to admit to their mistakes and learn from them, too.

Remember, 57% of employees quit because of a bad boss, so be consistent in your management style. Don’t waver your standards or apply rules differently based on your mood. When your actions consistently reflect your values and expectations, your team will trust that you mean what you say.

Treat Your Team As Humans First

As you lead your new team, take inspiration from managers you enjoy working with. They’re probably those who took the time to get to know you and encouraged you to have a healthy work-life balance by respecting your time beyond the workplace. No one wants to be seen as a robot, so make a conscious effort to understand your team’s personal goals and professional aspirations as well.

Regularly acknowledge and appreciate them for their hard work and contributions. A sincere thank you or public acknowledgment can go a long way in making people feel valued. But also be attentive when they are struggling, whether due to work-related stress or personal challenges. Offer your support by checking in privately and providing flexibility or resources. Let them know they can talk to you without fear or judgment.

At the end of the day, being a leader is more than just giving them a list of tasks to accomplish but actually guiding them toward success. And it’s only when people are genuinely cared for and valued that they are more motivated, engaged, and committed that this can be achieved.

Becoming a successful manager is not about having all the answers from the get-go but about continuously learning, growing, and adapting. Keep in mind that the most effective leaders are those who lead with empathy, integrity, and a genuine desire to see their team succeed.

Embracing these tips will help you navigate the complexities of the role and also create a positive and productive environment for you and your team to thrive. The journey may be challenging, but with the right mindset and approach, it will also be equally rewarding.

Forbes

The sustained rise in the prices of goods and services in Nigeria is driven by a complex interplay of domestic economic challenges, monetary policy decisions, and external factors. The trends identified by manufacturers, agricultural experts, and economic analysts reveal that inflationary pressures are likely to persist, affecting both the productive and service sectors. This analysis will explore the various underlying causes and how they are expected to shape price trends in Nigeria.

1. Monetary Policy and Rising Interest Rates

The continuous increase in the Monetary Policy Rate (MPR) by the Central Bank of Nigeria (CBN), now at 27.25%, has had a ripple effect across the Nigerian economy. The Manufacturers Association of Nigeria (MAN) has expressed concerns that higher borrowing costs, which now exceed 35%, are compounding the challenges faced by the manufacturing sector. With the cost of credit rising, manufacturers are forced to either raise prices to cover costs or reduce production capacity, exacerbating supply shortages.

As production costs rise, the prices of manufactured goods inevitably increase, further eroding consumer purchasing power. This cost-push inflation is particularly damaging for a country like Nigeria, where many industries depend on imports for raw materials. As the Naira continues to depreciate, manufacturers pay more for inputs, worsening the inflationary spiral.

2. Depressed Consumer Demand and Inventory Buildup

Despite rising production costs, many manufacturers face the challenge of declining consumer demand due to reduced purchasing power. With inflation soaring, consumers are spending more on essential goods like food and fuel, leaving less disposable income for other goods and services. As a result, manufacturers are accumulating unsold inventory, which reached ₦1.24 trillion in the first half of 2024—a significant increase from ₦869.37 billion at the end of 2023.

This situation is unsustainable for the manufacturing sector, as companies must either continue raising prices to offset losses or cut production, leading to layoffs and potential business closures. The resulting unemployment would further suppress demand, creating a vicious cycle of stagnating economic activity and rising inflation.

3. Food Inflation and Agricultural Challenges

The agricultural sector, a crucial component of Nigeria’s economy, is also grappling with significant challenges that are contributing to rising food prices. Worsening insecurity, particularly in the northern regions, has severely disrupted farming activities, reducing both output and productivity. Armed conflicts and banditry have prevented farmers from accessing their lands, while attacks on rural communities have driven many farmers away from agricultural activities altogether.

Moreover, Nigeria suffers from a lack of adequate storage and processing facilities. According to the Food and Agriculture Organisation (FAO), Nigeria loses up to 50% of its agricultural produce post-harvest due to poor infrastructure, inadequate storage, and inefficient food processing methods. This wastage leads to shortages, driving up the prices of staple foods such as grains, fruits, and vegetables. Even during harvest seasons, when prices typically ease, the lack of proper storage ensures that these gains are short-lived, with prices quickly rebounding after seasonal abundance passes.

The combination of insecurity, high post-harvest losses, and inefficient food distribution systems guarantees that food prices will remain elevated in the near and medium term, putting further pressure on household budgets.

4. The Depreciation of the Naira and Smuggling

One of the most significant factors driving inflation in Nigeria is the persistent depreciation of the Naira, particularly against stronger currencies like the CFA franc in neighboring countries. As the Naira weakens, the price differential between Nigeria and its neighbors increases, creating opportunities for smugglers to move food items and other essential goods out of Nigeria to sell them at higher prices.

This cross-border smuggling exacerbates local shortages, further driving up domestic prices. With the Naira currently trading at around ₦1,700/$ in the parallel market, there is little hope for a near-term recovery. The government’s decision to float the Naira in 2023, while aimed at addressing exchange rate imbalances, has led to increased volatility in the currency market, with speculative activities and weak foreign investment inflows adding to the pressure on the Naira.

Without robust interventions to stabilize the currency, such as increasing foreign reserves or attracting substantial foreign investment, the exchange rate is likely to remain under pressure. This continued depreciation will ensure that imported goods, including food items and raw materials for manufacturing, remain expensive, further fueling inflation.

5. Energy Costs and Petrol Price Increases

Energy prices, particularly petrol, have been a key driver of inflation in Nigeria. The removal of petrol subsidies by the Tinubu administration has led to a sharp increase in fuel prices, with petrol now selling for around ₦1,000 per liter—up from ₦187 per liter when the administration took office. Given that transportation costs account for a significant portion of the cost structure for many goods and services, the impact on inflation has been profound.

Higher fuel prices have not only driven up the cost of transporting goods but also increased the operating costs for small businesses and households that rely on petrol-powered generators due to the country’s unreliable electricity supply. With global oil prices likely to remain high due to geopolitical tensions and the depreciation of the Naira against the U.S. dollar, petrol prices are unlikely to decline soon, ensuring that energy costs will continue to be a major contributor to inflation.

6. Structural Economic Issues and Foreign Exchange Shortages

Nigeria’s heavy dependence on crude oil exports and the chronic underperformance of the oil sector, due in part to oil theft and declining production, have reduced the country’s foreign exchange earnings. This, in turn, limits the ability of the Central Bank of Nigeria (CBN) to stabilize the Naira through interventions in the foreign exchange market.

With dwindling foreign reserves and limited inflows from non-oil exports, Nigeria has been unable to meet the foreign currency needs of manufacturers and importers. The resulting scarcity of foreign exchange has led to higher costs for imported goods, from industrial machinery to everyday consumer products. Until Nigeria can diversify its export base and increase foreign exchange earnings, these challenges will persist, keeping the pressure on prices.

7. Inflation Expectations and Wage Demands

As inflation continues to erode purchasing power, there are growing demands for wage increases across various sectors. The federal government, facing pressure from labor unions, has already implemented a wage hike, but these increases are unlikely to keep pace with rising inflation. Wage increases, while necessary to maintain living standards, can also contribute to further inflation if not accompanied by corresponding gains in productivity.

Moreover, as businesses face rising input costs and wage pressures, many are passing these costs onto consumers, further entrenching inflation expectations. Once inflation becomes embedded in the economy, it becomes more difficult to reverse, particularly in an environment of weak economic growth and poor policy coordination.

Conclusion

In the near and medium term, the outlook for Nigeria’s inflationary trends remains bleak. The combination of rising interest rates, agricultural challenges, a depreciating Naira, fuel price hikes, and structural economic weaknesses will continue to drive up the prices of goods and services. Without significant policy interventions to address these issues—such as improving agricultural productivity, stabilizing the Naira, reducing insecurity, and supporting local manufacturing—inflation will remain a persistent challenge, further eroding living standards for millions of Nigerians.

Overview

On October 1, 2024, coinciding with Nigeria's 64th Independence Day, protesters across multiple cities in Nigeria took to the streets as part of the #EndBadGovernance movement. This was a continuation of protests held in August 2024, with demonstrators expressing grievances over economic hardships, rising costs of living, and government policies.

Key Points

1. The protests, also known as "National Day of Survival" or "#FearlessInOctober", occurred in several major cities including Lagos, Abuja, Ibadan, Akure, Osogbo, and Port Harcourt.

2. Main grievances included:

   - High fuel prices following subsidy removal

   - Rising food costs

   - Increased electricity tariffs

   - General economic hardship and inflation

3. Protesters demanded:

   - Reversal of fuel subsidy removal

   - Reduction in food prices

   - Improved governance

   - Release of activists arrested during previous protests

4. Security forces responded with varying levels of force in different locations, including:

   - Use of tear gas in Abuja

   - Arrests of protest leaders in Kano

   - Dispersal of protesters in Rivers State

5. The Nigerian Bar Association (NBA) offered free legal services to protesters facing harassment or unlawful arrest.

Protests by Location

Abuja

- Police fired tear gas at protesters in the Utako market area

- Eagle Square was sealed off by security forces

Lagos

- Peaceful demonstration led by Omoyele Sowore

- Protesters marched from Ikeja to Alausa Secretariat

Ibadan

- Youth-led protest at Mokola roundabout

- Demands included reversal of fuel subsidy removal and reduced living costs

Akure (Ondo State)

- Protesters defied police warnings and marched peacefully

- Commercial drivers and motorcyclists joined the protest

Osogbo (Osun State)

- Protesters marched through major neighborhoods

- Demanded reversal of economic policies

Port Harcourt (Rivers State)

- Police and suspected political thugs dispersed protesters

- Media personnel were prevented from documenting the incident

Kano

- Five protest leaders were allegedly arrested and taken to Abuja

Government and Security Response

- Police in various states issued warnings against protests

- In some areas, security forces monitored protests without intervention

- The National Human Rights Commission (NHRC) warned against rights violations by security agencies

Civil Society Reactions

- The Nigerian Bar Association (NBA) offered free legal services to protesters

- Amnesty International called for the release of detained activists in Kano

- United Action Front of the Civil Society (UAFCS) urged the government to initiate dialogue with protest leaders

Conclusion

The #EndBadGovernance protests 2.0 highlighted ongoing economic challenges and dissatisfaction with government policies in Nigeria. While some protests remained peaceful, others faced security crackdowns. The events underscored the tension between citizens' right to protest and government efforts to maintain public order.