The current controversy surrounding the Tax Reform Bills introduced by President Bola Tinubu highlights a significant and contentious issue: the principle of derivation in the proposed Value Added Tax (VAT) sharing formula. At the heart of the matter is a proposed increase in the derivation percentage from 20% to 60% for VAT revenues, a move that has ignited fervent opposition, particularly from Northern political leaders. Their concerns raise critical questions about equity, regional balance, and the historical context of Nigeria’s fiscal policies.

Historically, the derivation principle has undergone significant transformations. Initially, during the colonial period, regions retained 100% of mineral revenues, reflecting a decentralized approach to resource management. This shifted over time, with military regimes imposing increasingly restrictive allocations that often undermined the autonomy of resource-rich states. The introduction of the 13% minimum derivation formula in the 1999 Constitution was a hard-won concession for oil-producing states, primarily in the Niger Delta, which have long fought for a fair share of the wealth extracted from their lands.

The proposed changes in the VAT sharing formula, however, threaten to exacerbate existing regional tensions. By allocating 60% of VAT based on derivation—essentially rewarding states based on their consumption rather than production—President Tinubu’s reforms seem to favor states like Lagos and Rivers, which are more consumption-oriented. This raises valid concerns about perceived bias in a governance structure already fraught with accusations of favoritism.

The Northern Governors’ Forum’s swift rejection of the tax bills stems from fears that such a significant increase in derivation will only deepen disparities between regions, favoring the South while marginalizing the North.

Equity demands that if the government considers increasing derivation for VAT, similar adjustments should be made across all revenue sources, including mineral resources and Company Income Tax. The current proposal appears selective and risks entrenching regional disparities rather than alleviating them. It is not just about the allocation of VAT but about setting a precedent for how fiscal policies are crafted in a country marked by diversity and regional inequalities.

Furthermore, the historical context of the derivation principle underscores the need for a balanced approach. The gradual decline of derivation percentages from the colonial era to the present has created a landscape where resource-rich states often feel shortchanged, while less resource-endowed states depend heavily on federal allocations. A re-evaluation of how revenues are shared, grounded in the principle of derivation, should consider the historical injustices faced by various regions and strive for a fairer distribution of resources.

The ongoing debates surrounding these tax reform bills are not merely about percentages; they encapsulate the broader struggle for equity and justice within Nigeria’s federal system. If President Tinubu’s administration seeks to build a truly united Nigeria, it must address these disparities with transparency and inclusiveness, ensuring that all states benefit from the nation’s collective wealth, rather than a select few. The challenge lies in crafting a fiscal policy that honors the principle of derivation while promoting a sense of shared destiny among all Nigerians. Only then can Nigeria’s social formations hope to move past regional grievances and build a more equitable future for the country.

President Bola Tinubu has directed the immediate release of all minors detained in connection with the #EndBadGovernance protests held in August, following widespread local and international condemnation of their treatment. The move comes after a harrowing court appearance last week where three minors and an adult collapsed from exhaustion while being arraigned, prompting calls for urgent action.

The presidential order was announced by the Minister of Information and National Orientation, Mohammed Idris, on Monday during a press briefing at the State House. Idris confirmed that the release would occur “without prejudice to any legal processes there are,” signaling that the government would not proceed with charges against the minors for their alleged role in the protests.

“The president has directed the immediate release of all minors that have been arrested by the police,” Idris said, adding that the Ministry of Humanitarian Affairs and Poverty Reduction would oversee their care and reunite them with their families. He further revealed that a committee would be established to investigate the conduct of all officials involved in the detention, with those found culpable facing disciplinary action. However, it remains unclear whether the investigation will extend to the police officers, prosecutors, or the judge who allowed the minors’ prolonged detention.

The decision to release the minors follows a significant backlash from human rights organizations and civil society groups both within Nigeria and abroad. Amnesty International condemned the arrest and trial of the minors, calling the use of stringent bail conditions—set at N10 million for each defendant—“arbitrary detention.” The international human rights group argued that these children should never have been detained in the first place, citing Nigeria’s widespread poverty, hunger, and political unrest.

In a strongly worded statement, the Socio-Economic Rights and Accountability Project (SERAP) labeled the trial of the children a “brutal targeting of protesters,” accusing the government of using children as scapegoats to suppress dissent. “The Tinubu administration must immediately and unconditionally release those detained and drop all charges against them,” the organization demanded, emphasizing that the government should focus on addressing the country’s economic challenges rather than punishing citizens for voicing their grievances.

The #EndBadGovernance protests, which took place between August 1 and 10, were sparked by growing frustration over the country’s worsening economic conditions, including high inflation, soaring fuel prices, and the removal of fuel subsidies. Demonstrators across Nigeria called for the reversal of Tinubu’s controversial economic policies, particularly the floating of the naira and the removal of subsidies on petrol.

While the protests were largely peaceful in many cities, violent clashes erupted in some areas, leading to arrests and accusations of heavy-handed police tactics, including the use of tear gas and physical assaults on demonstrators. In Abuja, where the protests remained non-violent, police detained several individuals, including the minors, many of whom were held for over three months without trial.

Despite the escalating criticisms, the police maintained that the charges against the detained individuals, which included treason, destruction of property, and public disturbance, were justified. The court had initially set stringent bail conditions for the 76 accused, including 52 minors, which many observers viewed as excessive and punitive.

The minors, aged between 14 and 17, were among the 76 arrested during the protests. According to reports, four of the children collapsed in court due to exhaustion before they could even enter a plea. Legal experts, including Akintayo Balogun, argued that the charges against the minors were legally flawed, as the Child Rights Act prohibits children from facing criminal charges that could lead to the death penalty. Balogun criticized the government for attempting to prosecute minors in a federal high court, which he said was an improper venue for cases involving children.

In response to the outcry, Nigeria’s Attorney General, Lateef Fagbemi, ordered the police to hand over the case file of the 76 defendants for further review. The Ministry of Women’s Affairs also intervened, announcing plans to transfer the case of the 52 minors to a juvenile court in accordance with Nigerian law, while also pledging to provide psychological counseling and educational support for the children once they are released.

The national and international backlash against the detention of the minors has been strong. Advocacy groups, including the Northern Elders Forum (NEF) and the Coalition of Northern Groups (CNG), have described the actions of the Nigerian government as a “gross violation of human rights.” NEF’s spokesperson, Abdul-Azeez Suleiman, condemned the charges of treason against the children, calling it a “grotesque abuse of power.” Suleiman also criticized the silence of northern state governors, accusing them of tacit approval of the government’s actions.

“Detaining and accusing mostly Northern Nigerian minors for treason amounts to shameful and unacceptable impunity,” Suleiman said. He urged for an impartial investigation into the arrests and a review of Nigeria’s treason laws, particularly as they apply to minors.

CNG’s National Coordinator, Jamilu Aliyu Charanchi, echoed these sentiments, calling the detentions a “gross violation” of constitutional rights. He emphasized that the detained minors were merely exercising their right to free expression, which is enshrined in the Nigerian Constitution. Charanchi condemned the government’s approach to governance, accusing it of prioritizing punitive measures over the welfare of citizens.

While Tinubu’s decision to release the minors has been hailed by some as a step toward rectifying the situation, it remains to be seen whether the broader issues of police brutality, the criminalization of protests, and the lack of accountability for government officials will be fully addressed. As Nigeria continues to grapple with its economic challenges, the incident has raised important questions about the treatment of its most vulnerable citizens and the state of its democracy.

As calls for justice grow louder, civil society organizations are urging the Nigerian government to uphold its commitments to human rights and engage in meaningful dialogue with its citizens to address the underlying issues fueling unrest across the country.

PRESS RELEASE

The release of the 2024 Mo Ibrahim Index on African Governance has revealed alarming trends in Nigeria’s governance performance. Ranking 33rd out of 53 African nations, with a score of 45.7 out of 100, Nigeria’s governance score has declined by 1.4 points between 2014 and 2023. This dip reflects troubling shortcomings across several key categories, including Security & Rule of Law (39.7), Participation, Rights & Inclusion (47.9), Foundations for Economic Opportunity (48.6), and Human Development (46.4).

These low scores, compounded by findings from the 2024 Transparency and Integrity Index (TII), recently released by the Center for Fiscal Transparency and Public Integrity, underscore a broader systemic decline within Nigeria’s federal, state, and local government institutions. While Nigeria has long been regarded as “the giant of Africa” due to its size, population, and resources, these rankings highlight how persistent governance failures are undermining its potential and standing both regionally and globally.

The findings in both indices emphasize the country’s struggles with transparency, public sector accountability, and the enforcement of anti-corruption measures. With ineffective governance systems in place, Nigeria faces a critical need for reform to rebuild public trust and reverse these negative trends.

The impact of Nigeria’s declining governance score is far-reaching. The lack of rule of law and security has not only created domestic instability but also deterred foreign direct investment, stalling economic growth. Issues in human development, economic opportunity, and inclusion further threaten the country’s aspirations to lead Africa in political and economic spheres. Without addressing these gaps, Nigeria’s prospects for long-term development and regional leadership remain jeopardized.

Furthermore, these governance shortcomings exacerbate problems like poverty, inequality, and inadequate infrastructure, directly affecting the quality of life for Nigerians. Failure to tackle these issues could have lasting consequences, from diminishing public trust to creating an environment ripe for corruption and impunity.

In light of these findings, the Centre for Fiscal Transparency and Public Integrity urges Nigerian authorities to take immediate action to address these governance deficits. Key reforms should include strengthening anti-corruption measures, improving transparency in government operations, enforcing the Public Procurement Act, establishing stronger protections for whistleblowers, and ensuring greater accountability across public institutions.

The country’s performance in the Security & Rule of Law category highlights the urgent need for judicial and security reforms to protect citizens’ rights, reduce lawlessness, and ensure fair application of the law. These efforts should be paired with policies that promote civic engagement and provide marginalized groups with greater opportunities for inclusion and participation.

The reports also emphasize the importance of investing in human capital to improve Nigeria’s human development indicators. Increased investment in healthcare, education, and skills training is essential to equip the workforce for future economic challenges. In addition, creating a stable business environment with transparent regulations will help attract foreign investment and support the growth of local businesses, improving Nigeria’s competitiveness on the African continent.

Finally, the Centre calls on all stakeholders—civil society, the media, the private sector, and Nigerians at large—to support efforts aimed at improving governance, upholding the rule of law, and prioritizing human development. Now is the time for committed action to restore trust, foster inclusive growth, and create a more transparent and accountable governance system.

Signed:

Victor Okebe Agi

Public Relations Officer

Centre for Fiscal Transparency and Public Integrity

The Petroleum Products Retail Outlets Owners Association of Nigeria says the Dangote Petroleum Refinery is inconsiderate for selling petrol at N990/litre, stressing that the company enjoyed massive concessions while accessing foreign exchange during its construction.

PETROAN also insisted that imported petrol was cheaper than the N990/litre price of Dangote petrol. Major marketers recently revealed that the landing cost of imported petrol as of October 31, 2024, was N978/litre.

On Sunday, the Dangote refinery alleged that PETROAN and the Independent Petroleum Marketers Association of Nigeria were planning to import substandard petroleum products into the country.

Reacting to this in a statement on Monday, PETROAN Publicity Secretary, Joseph Obele, insisted, “PETROAN will sell far less than the current selling rate of PMS in Nigeria when granted an import licence by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.”

Obele said the association had successfully incorporated a strategic business unit called PETROL.

While noting that PETROAN’s drive was solution-centric and patriotic following the pricing instability and turbulence in the downstream sector, the association said the reformative agendas of President Bola Tinubu were seen as inimical to advocates and beneficiaries of the monopolistic market.

“Consumers get the best value for pricing when competition is at its peak, hence Competition should be encouraged. Contrarily to competition, such a market will be exploitative and strictly for profiteering.

“The publication by Dangote refinery that PETROAN will import substandard petroleum products is not coming as a surprise to stakeholders, because such is his usual gimmick for maintaining a monopoly. The publication was coming after PETROAN and IPMAN announced plans to sell far less than the current Selling rate of PMS in Nigeria.

“It is important to set the records straight that PETROAN has never compared the price of Dangote PMS with any, other than the fact that Dangote’s PMS price wasn’t known until this morning at the press release by Dangote Refinery,” Obele said.

He insisted that “PETROAN has concluded plans with its foreign refinery counterparts and financial partners to import the best quality of PMS and then sell far less than the present selling rate of PMS in Nigeria. We planned to enter the market before December 2024, pending the approval of our import permit license by the regulatory agency and access to foreign exchange from CBN at the official rate.”

The PETROAN spokesman maintained that before now, the Dangote refinery had refused to make public its selling rate of PMS until IPMAN and PETROAN announced their readiness to sell at prices less than the current prices.

“The rate of N990 as announced by Dangote refinery was inconsiderate based on the fact that Dangote refinery enjoyed massive concessions for accessing foreign exchange during the construction of the refinery.

“The core determinant for setting the price is a consideration of the cost of production, then adding a fair margin. But this wasn’t the case for the determinant of PMS price by Dangote refinery as they said ‘the parameter was comparison with the international selling rate at the global market’.

“A nation that gave you a yet-to-be-disclosed concession for foreign exchange which was highly criticised by financial experts, such a country pricing template shouldn’t have been templated by the selling rate at the international market but rather it should have been the cost of production plus fair margin,” Obele stressed.

He added that goods from Chinese markets are not as costly as goods from the American market because the cost of production differs.

“The allegations that PETROAN will import inferior products and also that an international company is trying to establish a PMS blending plant in Lagos are all strategies for Dangote refinery to push others out of the market to achieve a monopoly for exploitation.

“A few months ago, the CEO of Dangote refinery said the NNPC LTD was importing inferior petroleum products, that his own was far better than what NNPC LTD was selling to marketers. In another press conference, he said the refinery in Malta was just a blending plant and not a refinery. All the allegations are intending to close the doors against other operators to enjoy monopoly,” it was stated.

PETROAN commended Tinubu for his commitment towards the revamping of the nation-owned refineries, saying the ongoing rehabilitation project never suffered funding under Tinubu.

The association maintained its position by counselling that the Port Harcourt and Warri Refinery plants be immediately privatised and handed over to a reputable firm with the technical capability, managerial skills and financial strength in partnership with PETROAN and other critical stakeholders after completion.

This, Obele said, will enable the operators of the government-owned refineries to withstand aggressive ballistic competition that will be poised by the known beneficiaries of the monopolistic market.

The statement read further, “Antecedents of the beneficiaries of the monopolistic market has shown numerous suffocating business owners crashing out of other sectors for a sole operator in the past. Stakeholders’ concerns are a prayer that the process of privatisation should be transparent using Indorama Petrochemicals as a model as against the Maintenance Repairs and Operations contract.

“A balanced market should be an all-inclusive market where the market leader is enjoying his lead, while the market challenger is servicing a certain degree of the consumers and the market followers are still surviving in the market at an affordable price.

“Therefore, it is penitent that the Federal Government should discourage and dismantle any attempt at monopoly in the downstream sector given crashing the current selling rate of PMS. The only catalyst to trigger PMS price reduction is by ushering in competition and PETROAN will support the Federal Government in achieving intensive competition in the sector.”

IPMAN reacts

In an interview with The PUNCH, the National Secretary of IPMAN, Terlumun James, said the association did not have a blending plant in Lagos, calling on all stakeholders to unite and give Nigerians affordable energy.

James said there was nothing like building a depot to blend substandard fuel.

“There is nothing like that and I am not sure Dangote said all those words. I am always at the point of putting things correctly. You media people need to help us and help this country. If we come together, all these things will be solved. The common man is suffering a lot and that suffering has affected all of us. We all need to come together,” he said.

James added that IPMAN is still discussing with Dangote to commence lifting from the $20bn refinery.

“We are pursuing our import approval and we are discussing with Dangote,” the IPMAN secretary noted.

On Sunday, the spokesperson of the Dangote Group, Anthony Chiejina, said “An international trading company has recently hired a depot facility next to the Dangote refinery, with the objective of using it to blend substandard products that will be dumped into the market to compete with Dangote refinery’s higher quality production.”

When contacted, the NMDPRA refused to comment on the allegation.

Replying to a message by our correspondent, the NMDPRA spokesperson, George Ene-Ita, said “No comment”.

Punch

Sokoto State Government has raised the alarm over the emergence of another terrorist group in the state, identified as LAKURAWAS.

The State Deputy Governor, Idris Gobir, made this known while receiving participants of Course 33 of the National Defence College, Abuja, who were on a study tour in the state.

Gobir said the group is known to be a faith-based idealist, saying, “Assessment carried out indicated that the group possessed sophisticated weapons and their criminal activities were observed in about five local government areas of the state.”

According to him, this sad development is happening at a time when the state is faced with banditry activities. The threat is expanding, and the Security Authorities are working assiduously to address the emerging threat.

“The state government has been working closely with Federal Security Agencies to address numerous security threats to lives and properties of the people of the state.”

He enumerated various efforts made by the state government to confront security challenges facing the state. He expressed hope that the study tour would provide the required insight to the authorities on the nature of the unfolding criminal activities and proffer solutions that would guarantee security of lives and peaceful coexistence among people.

In his address, the leader of the delegation, Titus Zuwahu Dauda, an Air Vice Marshal, said the college was established in 1992 as the highest military institution in the country.

He said the college was dedicated to “selecting officers from military, police, and strategic agencies to prepare them for strategic responsibilities. The college has so far graduated 2,982 participants. Among them are many from 30 African and Asian countries.”

Dauda added that at the end of the tour, the team would make an oral presentation and written report on their study tour to the state.

Vanguard

Israel's strikes on Iran spark interest in air-launched ballistic missiles

Israel's effective use of air-launched ballistic missiles in its airstrikes against Iran is expected to pique interest elsewhere in acquiring the weapons, which most major powers have avoided in favour of cruise missiles and glide bombs.

The Israel Defense Forces said its Oct. 26 raid knocked out Iranian missile factories and air defences in three waves of strikes. Researchers said that based on satellite imagery, targets included buildings once used in Iran's nuclear programme.

Tehran defends such targets with "a huge variety" of anti-aircraft systems, said Justin Bronk, an airpower and technology expert at London's Royal United Services Institute.

Cruise missiles are easier targets for dense, integrated air defences than ballistic missiles are. But ballistic missiles are often fired from known launch points, and most cannot change course in flight.

Experts say high-speed, highly accurate air-launched ballistic missiles such as the Israel Aerospace Industries Rampage get around problems facing ground-based ballistic missiles and air-launched cruise missiles - weapons that use small wings to fly great distances and maintain altitude.

"The main advantage of an ALBM over an ALCM is speed to penetrate defences," said Jeffrey Lewis, director of the East Asia Nonproliferation Program at the James Martin Centre for Nonproliferation Studies at the Middlebury Institute of International Studies in California. "The downside - accuracy - looks to have been largely solved."

Ground-launched ballistic missiles - which Iran used to attack Israel twice this year, and which both Ukraine and Russia have used since Russia's invasion in 2022 - are common in the arsenals of many countries. So, too, are cruise missiles.

Because ALBMs are carried by aircraft, their launch points are flexible, helping strike planners.

"The advantage is that being air-launched, they can come from any direction, complicating the task of defending against them," said Uzi Rubin, a senior researcher at the Jerusalem Institute for Strategy and Security, one of the architects of Israel's missile defences.

The weapons are not invulnerable to air defences. In Ukraine, Lockheed Martin Patriot PAC-3 missiles have repeatedly intercepted Russia's Khinzhals.

Many countries, including the United States and Britain, experimented with ALBMs during the Cold War. Only Israel, Russia and China are known to field the weapons now.

The U.S. tested a hypersonic ALBM, the Lockheed Martin AGM-183, but it received no funding for the 2025 fiscal year. Because it has a large arsenal of cruise missiles and other types of long-range strike weapons, Washington has otherwise shown little interest in ALBMs.

A U.S. Air Force official, speaking on condition of anonymity, said ALBMs are not used in Air Force operations.

Raytheon's SM-6, an air-defence missile that has been repurposed for air-to-air and surface-to-surface missions, also has been tested as an air-launched anti-ship weapon, said a senior U.S. defence technical analyst, who declined to be identified because the matter is sensitive.

In tests the missile was able to strike a small target on land representing the centre of mass of a destroyer, the analyst said. Publicly, the SM-6 is not meant for air-to-ground strikes.

Because ALBMs are essentially a combination of guidance, warheads and rocket motors, many countries that have precision weapons already have the capability to pursue them, a defence industry executive said on condition of anonymity because of the sensitivity of the matter.

"This is a clever way of taking a common set of technologies and components and turning it into a very interesting new weapon that gives them far more capability, and therefore options, at a reasonable price," the executive said.

Reuters

WESTERN PERSPECTIVE

Russian air attacks on Ukraine's Kharkiv wound at least 15

Russian forces attacked Ukraine's second-largest city Kharkiv and the surrounding region with guided aerial bombs on Sunday, wounding at least 15 people, Kharkiv Regional Governor Oleh Syniehubov said.

Syniehubov, writing on the Telegram messaging app, said the attack damaged two residential buildings and windows of an infrastructure facility, two supermarkets, a cafe, 21 kiosks and a shopping centre.

There were four interior ministry employees among those injured in Kharkiv, the governor said.

The eastern city has become a frequent target of Russian air attacks since Russia launched its full-scale invasion in February 2022.

Syniehubov said Russian forces had badly damaged a five-storey apartment building in Kivsharivka, a small town near Kupiansk, east of Kharkiv.

Volodymyr Tymoshko, head of the regional police, said three residents died in the attack. A woman was rescued overnight, but further such efforts were hampered by ongoing Russian attacks, regional authorities said.

RUSSIAN PERSPECTIVE

Russia hits military and energy facilities in Ukraine – MOD

Russian forces have carried out major strikes against numerous targets in Ukraine, including airfields and energy infrastructure, the Defense Ministry in Moscow reported on Monday.

In a regular update posted on its Telegram channel, the ministry stated its military had struck energy facilities and an oil refinery used by the Ukrainian army.

Russia also targeted UAV workshops and storage sites for unmanned boats.

In addition, the ministry stated, Russian forces had used tactical aviation, drones, missiles and artillery in strikes against various concentrations of enemy forces and military equipment in 132 districts.

The update also revealed that Russia’s air defense systems had shot down four US-made HIMARS multiple launch rocket systems, a French-made Hammer guided aerial bomb, and 42 aircraft-type UAVs.

The ministry had earlier reported that the Russian military had hit a compound used by Kraken, a Ukrainian nationalist unit designated by Moscow as a terrorist organization.

A commando regiment operating under the Ukrainian military intelligence agency HUR, Kraken was established in 2022 by former members of the neo-Nazi Azov Battalion and other intelligence officers.

HUR commander Kirill Budanov has praised its fighters for their motivation “to kill the enemy.”Like the Azov Battalion, the sabotage unit welcomes radical Ukrainian nationalists and neo-Nazis joining its ranks.

Reuters/RT

World Bank officials have stated that it would take 15 years of subsidy removal for the effects to be felt, and that it could take up to 100 years for countries like Nigeria to eradicate extreme poverty. This confirms what some of us have been saying: that economic reforms and gradualism cannot resolve the country’s problems or bring prosperity.

A home is the number one source of wealth in the world — the summum bonum, the ultimate good. Unfortunately, Nigeria has the highest homelessness rate in the world, with 28 million homeless people. Only about 300,000 homes are built annually, while the population grows by around 5 million people each year. Even if the county were to increase the construction of homes by 1000%, which none of the current economic theories or plans can achieve, more people will still fall into poverty every year.

The “Fathers of Classical Economics” – Adam Smith, David Ricardo, and Thomas Malthus – espoused economic theories that supported the supply-side capitalist economic system of wealthy and powerful nations. However, the Russian Revolution of 1917 and the Great Depression of 1929, with millions of poor people threatening the survival of capitalism, forced world governments to recognize that housing was the ultimate good. This led to the adoption of demand-side economics, aimed at building massive suburban housing for the masses.

Maynard Keynes, the father of modern economics and macroeconomics, argued that governments should use deficit budgeting to empower the people through housing and employment. U.S. President Franklin D. Roosevelt’s 1933 New Deal was one of the greatest wealth transfers in history, engaging in massive public works and transitioning workers from low-wage agricultural jobs into higher-paying technical manufacturing roles. Similarly, Chairman Mao’s policies in China elevated a billion poor people into prosperity, the largest non-war-based economic empowerment in history.

This new economic ideology of social welfarism and the “Big Push” development model, which focused on providing housing for the masses, spread throughout the Northern hemisphere in the 1950s. In Africa, leaders like Obafemi Awolowo replicated this model. However, in the late 1970s, these social welfare policies were replaced with neo-liberal economic policies imposed by the IMF, which have entrenched poverty in many African nations, including Nigeria.

Only a “Big Push” development approach, not mainstream economic theories, can lift a people who have been ruthlessly exploited for over 500 years — first through slavery, then colonization, and now neocolonization. The Black race cannot achieve global economic parity without addressing the historical economic and sociopolitical costs of these systems. Economic gradualism, with its low growth rates, is too little and too late to address the rapid population growth and global economic fluctuations.

With the level of poverty in Nigeria, neither demand-side economics nor supply-side economics can systematically uplift a people who have been condemned to low-income primary production since the days of slavery. Yet, global and local economic scholars continue to preach the same plantation-style economics based on cheap labor, which has kept many in poverty due to low wages. Despite Nigeria’s agriculture sector being the fifth largest in the world in terms of value-added, the laws of diminishing returns require a reduction in human labor, replaced by machinery — something that can only be achieved through the multiplier effects of heavy manufacturing, not through imports or assembly.

African leaders, mentally enslaved by Eurocentric education and trapped by the realities of colonization, have been unable to create meaningful economic value. Their economies are built on the production of primary products, while importing processed goods. If countries like Nigeria print money or borrow excessively, the result is inflation, as the money is used to buy foreign imports. The IMF and World Bank financial systems have kept developing nations trapped in a cycle of currency devaluation, reducing wages and withdrawing social contracts that could empower the masses.

The fallacy of devaluation is that it supposedly makes exports cheaper and imports more expensive. However, in countries like Nigeria, which still rely on a single primary product (oil), imports remain inelastic — essential goods that cannot be replaced by local production. Thus, no matter how much the currency is devalued, oil exports won’t increase, and imports won’t decrease significantly. This is economic slavery, as the people are prohibited from creating value outside the colonial economic system, further entrenching poverty.

The coloniality of knowledge and power has sustained the neocolonial system. Even leaders have internalized the slavemasters’ pitch that if a slave works hard enough, producing primary products and buying provisions, he will eventually buy his freedom. Sixty years after independence, Nigeria’s economy remains a colonial one, with local production focused on agriculture and crude oil exports. Despite being one of the largest oil producers, Nigeria cannot process its crude locally, much like it couldn’t process cocoa during colonial times.

In the short window between the 1960s and 1970s, Nigeria and other neocolonial nations began to build manufacturing industries, processing food, beverages, and tobacco, and even assembling cars. However, 80% of raw materials were still imported. International monetary forces and colonial political machinations sabotaged the development of a steel and petrochemical complex that could have made the economy locally sustainable. A heavy manufacturing sector, which would include an arms industry, was seen as a threat to European domination in Africa.

As I outlined in my book The Nigerian Dream, a responsible nationalist government should within 100 days reopen all refineries to end fuel imports, cutting 30% off the import bill, and mandate that all government tiers use locally produced cars, cutting 21% off the import bill. According to Modern Monetary Theory, a government can print as much money as it needs, as long as it is focused on creating real value and not buying imports that fuel inflation. Nigeria should aim to build 5 million homes annually for three years, using 100% locally sourced materials, which would reduce homelessness and redistribute wealth to the masses, boosting the consumer market.

At the same time, Nigeria should construct three major railways — 5,000 kilometers of track — within the next three years. Railways are a massive source of iron and chemicals, which will stimulate growth in heavy manufacturing and transform car assembly plants into full car production facilities with locally sourced materials. These massive housing and railway projects would pull workers from the low-wage agricultural sector, increasing wages across the economy and spurring the development of locally produced agricultural machinery.

It is advisable that the military oversee these projects to reduce costs and protect the national economic interests, much like the U.S. industrial-military complex or China’s Liberation Army. This is the springboard that will lead Nigeria into economic prosperity, shedding the chains of 500 years of economic slavery.

** Justice J. Faloye is the author of The Blackworld Evolution to Revolution, President of the ASHE Foundation think tank, and National Publicity Secretary of Afenifere.

CEOs never get a day off. Oftentimes, their lives can feel like an endless slog from one hard decision to the next. 

Inc.’s 2024 CEO Survey found that many of the leaders of Inc. 5000 companies cite strikingly similar challenges that come along with being the boss.

For Robbie Harrell, founder and CEO of Saint Paul, Minnesota-based sculpture-grade ice company Minnesota Ice, running a company means constantly trying to avoid burnout. Founded in 2013, the company claimed the No. 1,416 spot on the 2024 Inc. 5000 list.

Here are the three hardest things about being a CEO, according to the world’s top CEOs. 

Loneliness

• “It can be lonely at times because most of your friends can’t really identify with your struggles, or celebrations.”
• “Few people understand the difficulties. They think I have it made and I’m so lucky without seeing the struggles, risk, and work that it takes to be a founder.”
• “Your pain is your pain, and it’s very difficult to show others as it may be considered a sign of weakness.”

Pro tip: Build relationships with other CEOs, consultants, and friends in business. Harrell says joining a peer group of other leaders gave him some much-needed perspective. “It’s been quite helpful to hear I’m not the only guy having employee issues,” he says. 

Feeling the weight of the world 

• “I am accountable to 11 family members, including siblings, children, nieces, and nephews. This responsibility weighs heavily on me, often causing anxiety and sleepless nights.”
• “Feeling like I’m carrying the weight of the company by myself, despite having over 100 employees.”
• “Everyone looks to me as having all of the answers and being right 100% of the time. I am far from perfect, and sometimes make decisions without thoroughly considering the full ramifications.”

Pro tip: Give yourself a break by completing a task unrelated to your business. Harrell says to destress, he listens to music while mowing his five-acre property. “When I finish and see all five acres cut, that’s instant gratification,” he says. 

Delegating 

• “The constant challenge for me as a founder has been learning to let go and trust others to replicate my vision. When you start something from inception, it’s hard to let others in.” 
• “Having to be consistent in all things to set an example for other team members.” 
• “Learning to let go of this thing I’ve created so others can help take it to the next level.”

Pro tip: Clearly convey the kinds of problems that should be brought to the CEO and which can be handled without approval. “You have to remember that when an employee comes to you with a problem, they don’t know all the other problems you’re solving,” Harrell says.

Inc

The recent arraignment of 32 minors alongside 76 other individuals for their participation in the #EndBadGovernance protests reveals a chilling reality: President Bola Tinubu’s government is veering dangerously close to authoritarianism. The inhumane treatment of these young detainees, who have been subjected to three months of detention without adequate food or care, highlights not only a blatant disregard for human rights but also an alarming trend toward state repression of dissent.

The charges of treason and other serious offenses against these children—some as young as 14—are not only absurd but indicative of a regime willing to weaponize the law to silence its critics. The criminalization of peaceful protestors, particularly minors, is a grotesque distortion of justice. This administration’s actions paint a stark portrait of a government more interested in quelling dissent than addressing the legitimate grievances of its citizens.

In the courtroom, the sight of these malnourished children, some collapsing from the effects of hunger and neglect, was not just a violation of their rights but a tragic symbol of the government’s moral bankruptcy. That four of them required urgent medical attention during proceedings speaks volumes about the conditions under which they have been held. It is horrifying that in a nation claiming to uphold democratic values, we are witnessing scenes reminiscent of authoritarian regimes where dissent is met with brutal repression.

Nigerians from all walks of life are right to express outrage. The Nigerian Bar Association, civil society organizations, and prominent political figures have condemned this abhorrent treatment. Yet, their voices must not be mere echoes in the wilderness. This is a crucial moment for collective action against the encroaching fascism that characterizes Tinubu’s approach to governance. The portrayal of young protestors as threats to national security is a dangerous narrative that must be challenged.

What we are witnessing is a systematic dismantling of the democratic fabric that should protect citizens, particularly the vulnerable. The refusal to acknowledge the rights of minors in the judicial process starkly contradicts both national and international legal standards. It raises urgent questions about the integrity of the country’s judicial system and the values that underpin it.

Tinubu’s administration must understand that governance is not about suppressing voices of dissent but about listening and responding to the needs of the populace. The economic hardship facing many Nigerians, which sparked these protests, is not going to vanish through intimidation or draconian measures. True leadership requires engagement, empathy, and a commitment to justice—none of which is evident in the current government’s approach.

As we move forward, it is imperative that Nigerians remain vigilant. The treatment of these minors is not an isolated incident; it is a symptom of a broader authoritarian trend that threatens the very foundation of Nigeria’s democracy. We must rally against this tide, demanding accountability and adherence to the rule of law.

The time for complacency is over. The Tinubu government must be called to account for its actions, and the rights of all Nigerians—especially the most vulnerable—must be fiercely defended. If we allow the state to continue down this path unchecked, we risk losing not only our rights but also the essence of what it means to be a civilized society. Let this moment galvanize us into action, for the future of this country depends on the citizens’ ability to confront tyranny wherever it arises.