“We must therefore not shirk from accusing our friends, or praising our enemies, nor need we be afraid of praising or blaming the same people at different times; since, it is impossible that the men [and women] who are engaged in public affairs should always be right; and unlikely they should always be in the wrong. We must therefore detach ourselves from the actors [and actresses] in our story, and apply to them only such statements and judgments as their conduct deserves” – Polybius, c200-118 BC.
Once again, I find myself risking being misunderstood by the millions of political opponents of President Bola Tinubu and the Federal Government.
There will be those who might read into what follows an attempt to secure an appointment or benefit somehow from it. That is a cross everybody regularly in the public domain must carry.
But, if it will help to persuade the doubting Thomases that there is no ulterior motive behind this, let me disclose that I am so physically challenged, any President must be out of his mind to offer me an appointment.
I will need a straight jacket if I accept. I can hardly walk; and can’t seat for long.
Perhaps, it is worth repeating that it had been my personal principle to stay out of politics and to be neutral and objective in my comments of national affairs.
I have religiously kept out of partisan politics – so much so, no Head of State, military or civilian, has escaped the sharp point of my pen.
I don’t intend to stop now.
In fact, the matter of solar panels at Aso Rock, to any economist, is primarily an investment decision – before any other considerations.
Unfortunately, this is not the best of times for Tinubu.
THE BEST DECISION BY FG
“It is part of a king [or President] to do good to his subjects and be maligned for it” – Alexander the Great, 356-323 BC
Few rulers are loved by the majority of their subjects – particularly when several things are going wrong; as they now are in Nigeria.
Nothing seems to be going right at the moment and the promises made two years ago are becoming difficult to redeem. All these are perfectly understandable.
Let us now address the investment decision involved in this needless controversy.
But, first a personal example would help to illustrate the point devoid of associated sentiments.
Three years ago, I invested in an inverter; after being persuaded that it was cost effective.
Like every economist, there was a need to keep a strict record of all transactions. Primarily, after paying my DISCO’s fraudulent bills, petrol still had to be bought for the generator.
Records of fuel purchases for the gen-set were kept meticulously for two months before the inverter was installed.
Record-keeping continued after the inverter was installed.
In two months, we saved 30 per cent of the cost of the inverter plus installation.
In eight months, the inverter had paid for itself. A friend who opted for solar power, about the time I was going for inverter, had a similar happy story to tell.
The first truth is; solar or inverter power supply constitute huge savings on power generation costs; and they are far more environmentally-friendly.
Objectively, the switch from DISCO to solar power is the best investment decision the federal or any state government can make right now.
The facts, devoid of emotions, speak very clearly for themselves.
If for a mere, the word mere is deliberate, N20 billion investment, the Presidency can save annual Disco bills of N70 billion or more, we should all be urging them to do it as quickly as possible.
Obviously, the critics are not being objective.
Like subjects since time immemorial they must grumble at measures taken by the ruler – even, when in this case it serves their own economic interests.
The second truth is: after the initial cost of N20 billion, annual maintenance charges are frequently less than ten per cent or N2 billion.
Who would want government in any country, especially the Poverty Capital of the World, to spend N70 billion annually providing power to the seat of power; instead of N2 billion?
One of the sharpest critics of the expenditure was the nurse with the placard pointing out that several Teaching Hospitals in Nigeria have been disconnected by DISCOs and implying that it was wrong for Aso Rock to budget N20 billion for solar power.
It was an emotional appeal – not an economic one.
I have lived very close to the Universities of Lagos and Ibadan since 1974. Each of them is a sprawling institution – almost as big as Aso Rock.
Yes, they, as well as other universities, need regular power supply. But, the existing reprehensible situations did not arise yesterday. They built up gradually. Teaching Hospitals should also come forward with their own plans to go solar and leave DISCOs strictly alone.
At any rate, I fail to understand the logic implied in the position.
Are those who have latched unto the protest saying that Aso Rock should have no power supply if Teaching Hospitals don’t? That would be absurd.
Government’s seat of power must have power supply irrespective of who occupies the office of president.
And, in this case, they want to reduce the cost of power supply!!! What is wrong with that?
ASO ROCK AND WHITE HOUSE COMPARED
“Comparisons can sometimes lead to misleading conclusions.”
The unexpected blistering attack on social media and the political opposition drove the president’s spokesmen to want to justify the investment by drawing attention to the fact that America’s White House also has solar power panels installed. The defence made a good case worse.
To begin with, the White House is not faced with a crippling bill by any power provider in Washington D.C.
So, there is no immediate need to switch fully to alternative source of power supply. Furthermore, the solar panels were installed by the late President Jimmy Carter, in the 1980s – whose foresight regarding solar energy was not shared by his fellow countrymen.
No other president has shared his vision.
Tinubu’s decision makes perfect sense for Nigeria; and he does not need comparison with any other country.
The challenge to the critics is for them to fault the economic soundness of the decision; not to indulge in playing to the gallery on a matter which is clear.
IS IT VALUE FOR MONEY?
“Nobody should be condemned on suspicion.” That is one of the pillars of fair comment.
Some critics, unable to find objective reasons for opposing the initiative, have resorted to declaring that the contract would be inflated and awarded to a political crony. To be candid, I cannot vouch for the FG that in the end, the nation would receive value for money.
While approving the decision on purely economic principle, it is not possible for me to determine whether or not the cost is inflated for reasons known to government. For that reason, I would suggest that the contract be subjected to the most open and stringent process of competitive bidding. If not for anything else, but to minimise the impact of mindless opposition to this profitable project.
IS THE PRESIDENCY ISOLATING ITSELF?
“The Presidency is isolating itself from the problem faced by other Nigerians” – A critic of the project (name withheld).
Several television talk show hosts had a field day with the matter.
In addition to the “Tinubu can do nothing right” gang, others not so biased also objected to the acquisition because it isolates Aso Rock from the problems confronted by Nigerians.
I agree with their observation absolutely. But, permit me to quickly add that self-indulgence by rulers, irrespective of type of government – monarchy, dictatorship, democracy or theocracy – rulers are always insulated from the pains of the common man.
One example would help to make the point.
During the Second World War, while the ordinary citizens in England and Germany were under aerial bombardment by hostile forces, Prime Minister Winston Churchill, 1874-1965, and Fuhrer Adolf Hitler, 1899-1945, a democrat and a dictator, were both protected in secure bunkers – from which they governed.
No Briton or German begrudge them their secure positions.
Furthermore, as food scarcity made life more miserable for ordinary people, the bunkers were fully provisioned.
Exceptional treatment comes with the territory everywhere – not just Aso Rock.
THE REAL WASTE – SPENDING $2BN ON REFINERIES
“Hitting the ground running can have disastrous consequences.”
That was my warning to newly-elected President Tinubu shortly after he pronounced that “fuel subsidy is gone” to global applause – before the repercussions brought him up short on his victory lap.
To regain momentum, he allowed himself to be persuaded by Mele Kyari and the Directors of the Nigerian National Petroleum Company Limited, NNPCL, that the quickest way to bring fuel prices down was to revive the four refineries.
He believed them; and authorised $2 billion to be released immediately.
It was a great blunder.
Nobody, not even Donald Trump, should spend that sort of money without asking a lot of questions.
But, even without being asked, some of us were warning Tinubu to forget the scraps called refineries.
Former officials are reportedly singing at the EFCC Headquarters; Warri refinery is shut down despite wasting $897 million on it; Port Harcourt refinery is in limbo.
Altogether $2bn hastily approved has gone down the drain. That is the real waste; to be charged to Tinubu’s account.
Vanguard
