Nigerians are bracing for tough months ahead, with many planning to rely on borrowing and depleting their savings to manage their financial obligations amid a challenging economic landscape.

This is according to the Central Bank of Nigeria’s (CBN) July 2024 Household Expectations Survey, which highlights growing consumer pessimism about the nation’s economic trajectory.

The survey, which involved 1,665 households from across Nigeria, reveals a stark decline in consumer confidence, with the overall confidence index for the next three months standing at a negative 9.1 points.

This figure reflects a significant level of anxiety among consumers who anticipate a continued decline in economic conditions and family financial situations.

As a result, many Nigerians expect to either draw down on their savings or incur debt to meet their needs during this period.

The CBN report read: “At -9.1 points, consumers overall confidence was pessimistic for the next three months. The pessimistic outlook is attributed to declining economic conditions and declining family financial situation as consumers opined that they will be drawing down on savings or getting into debt. They, however, anticipate improvement in the total family income as the index stood at 1.6 points.” 

Outlook for July and August 

In July 2024, the CBN’s survey revealed a deeply pessimistic outlook among Nigerian consumers, as reflected in the Consumer Confidence Index.

The index for the month stood at -41.7 points, highlighting significant concern over the state of the economy. The negative sentiment captured by this index suggests that a majority of households are facing considerable financial pressures, with many anticipating the need to draw down on their savings or incur debt to manage their living expenses.

Looking ahead to August 2024, the outlook remains bleak, although there is a slight improvement in consumer sentiment.

The confidence index for the next month is projected at -21.8 points, indicating that while consumers are still pessimistic about the future, their outlook is marginally less negative compared to July.

This slight uptick suggests that some consumers may be holding out hope for a modest stabilization or improvement in their financial situations.

Despite the overall pessimism, there is a glimmer of hope as consumers express a slightly optimistic outlook for the next six months, with an index of 2.7 points.

This cautious optimism is driven by expectations of an improvement in both the economy and family incomes by early 2025.

The document reports: “Consumers were optimistic in their outlook for January 2025 as the index stood at 2.7 points. This positive outlook was attributed to anticipated improvement in the economy and expectations of improvement in family income in the next six months.”

Major concerns 

• Key findings from the survey show that consumers are particularly concerned about the rising costs of basic commodities and services, with many expecting these expenses to increase further in the coming months.
• Also, the majority of respondents believe that now is not the right time to make significant purchases, such as consumer durables, motor vehicles, or real estate.
• In terms of inflation expectations, the survey indicates that Nigerians foresee a continued rise in the cost of living, particularly in essential areas such as transportation, medical expenses, and housing.
• The CBN survey also sheds light on consumer attitudes towards interest rates, with a significant portion of respondents expecting borrowing rates to rise in the near future.

What you should know 

Nairametrics earlier reported that the rising cost of living pushed Nigerians to borrow about N4.82 trillion from banks between January and March this year.

• Consumer credit outstanding in Nigeria surged by 268.9% to N8.24 trillion by the end of March 2024, from N3.42 trillion in December 2023, reflecting the severe financial strain on Nigerians due to escalating inflation.
• The surge in consumer credit was primarily driven by a significant rise in both personal and retail loans.
• However, personal loans constitute the largest portion of consumer credit, rising by 270.4% to N7.52 trillion by the end of March 2024.
• Similarly, retail loans saw a significant increase of 253.4%, reaching N721.13 billion.
• This growth indicates a heightened reliance on credit to manage personal finances, with personal loans accounting for a dominant 91.2% share of total consumer credit.

Nairametrics

The Corporate Affairs Commission (CAC) has dissolved the downstream arm of the Nigerian National Petroleum Company Limited (NNPC Retail) and Nueoil Energy from its database, a check by PREMIUM TIMES has shown.

The companies’ dissolution follows the acquisition by OVH Energy Marketing Limited.

Last Week, PREMIUM TIMES reported how a court ruling had effectively dissolved NNPC Retail and transferred its ownership to OVH Energy Marketing Limited.

The NNPC Retail officially no longer exists after it asked a court to transfer its ownership and properties to a firm it claimed to have bought.

An official search by this newspaper shows that the NNPC Retail, with registration number 826223, incorporated on 21 June 2009, and Nueoil Energy with registration number 1902885, incorporated on 8 March 2022, have been dissolved by CAC, while the OVH Energy Marketing Limited with registration number 655791, incorporated on 4 June 2006 remain active.

Speaking to PREMIUM TIMES on Wednesday, an Abuja-based lawyer, Yomi Ogunsanya, said the dissolution by the commission means “the company has been ‘wound up’. It is no longer in existence.”

PREMIUM TIMES reported NNPC Ltd’s controversial purchase of OVH Energy Marketing Limited and how the purchased company essentially took over the management of the buyer, which an NNPC insider described as “the most ridiculous business acquisition in the world.”

NNPC Ltd bought OVH from Nueoil Energy Limited a month after Nueoil Energy acquired OVH in September 2022.

However, in June, the three firms – NNPC Retail, OVH and Nueoil – jointly filed a petition at the Federal High Court in Lagos. In it, they asked the court to grant eight orders, including an order that NNPC Retail “be dissolved without being wound up” and that “the resultant company from the scheme shall be” OVH.

The petitioners further asked that all tax attributes, unutilised capital allowances, tax losses, withholding tax credits and other refunds available, but excluding the Nueoil Energy shares in the OVH Energy Marketing Limited, liabilities and business undertakings, including real property and intellectual property rights of the NNPC Retail and Nueoil Energy Limited be transferred to the OVH Energy Marketing Limited subject to the terms and conditions set out in the scheme without any further act or deed.

The court granted all eight orders, ordering that the merger be effective from 1 January. The court also mandated that all necessary incidental, consequential, and supplemental orders be made to ensure the full and effective implementation of the merger.

Last Wednesday, in his reaction to PREMIUM TIMES report, the candidate of the Peoples Democratic Party (PDP) in the last election and former vice president of Nigeria, Atiku Abubakar, expressed astonishment at the operations of the NNPC Ltd and how the government-owned oil company had put its retail arm under the control of OVH, which he claimed was owned by Wale Tinubu, a relative of President Bola Tinubu.

Atiku regretted that his intention to privatise the NNPC and increase its transparency has been overshadowed by what he described as the “criminal hijack of the NNPC by corporate cabals around the current president,” according to the statement signed by his Media Adviser, Paul Ibe, said.

However, the NNPC, in its response to Atiku, said at the time it acquired OVH in 2022, Oando (in which Wale Tinubu has equity interest) had fully divested its equity in OVH to the two other partners, Vitol and Helios.

The NNPC explained that Oando began its divestment in 2016, with Vitol and Helios coming in as equity partners, leading to the change of name from Oando to OVH.

In 2019, according to NNPC Ltd, Oando fully divested its equity interest in OVH resulting in Vitol and Helios holding 50 per cent equity interests respectively.

PREMIUM TIMES reported the divestment by Vitol and Helios from OVH which they sold to Nueoil in 2022. NNPC then bought OVH from Nueoil.

The national oil company said while the merger is still ongoing, NNPC decided to rename the new company as NNPC Retails Ltd.

However, a review by this newspaper of the NNPC response shows that the state-owned oil firm failed to address the crux of PREMIUM TIMES stories.

Background

NNPC Ltd. announced in October 2022 the acquisition of OVH Energy Marketing Limited’s downstream assets. This acquisition would merge OVH Energy with NNPC Retail, a subsidiary of NNPC Ltd.

The assets acquired from the company, which operates Oando filling stations, also include a reception jetty with 240,000 metric tonnes monthly capacity and eight liquefied petroleum gas plants, three lube blending plants, three aviation depots, and 12 warehouses.

But in June 2023, PREMIUM TIMES’ investigation on the acquisition exposed the secret deals and the complicated ownership structure that left managerial control of NNPC Retail in the hands of OVH Energy Marketing.

The report also exposed that OVH Energy Marketing may not have owned as many filling stations as it claimed during the merger talks.

In addition, the report highlighted how Huub Stokman, an expatriate and former Chief Executive Officer of OVH Energy, emerged as the new Managing Director of NNPC Retail, a development that further compounded the structure of NNPC Retail.

It was also found out that the acquisition of OVH Energy had turned NNPC Retail into a toxic workspace, with officials of the former taking over the latter’s running.

“Did we acquire them, or did they acquire us? How come they are now the ones in the management,” one NNPC Retail staff told this newspaper.

In July 2023, the House of Representatives, following the adoption of a motion moved by Miriam Onuoha (APC, Imo), directed NNPC Ltd to suspend the acquisition pending an investigation by its committee.

Consequently, the House set up an ad-hoc committee with Hassan Nalabraba (APC, Nasarawa) as the chairman and commenced an investigation into the controversial deal in September 2023.

The ad-hoc committee requested the NNPC Ltd to furnish it with information about “registration documents/history from CAC for OVH, Nueoil, and NNPC Retail Limited (NRL), Board Resolution of NNPC Ltd on purchase of OVH, Audited Financial Statement and Management Accounts from 2015 to Date OVH, Nueoil, NRL and NNPC Ltd” and the “payroll from 2015 to date for NRL and OVH, Board Resolution of NRL/CHQ for movement of head office to Lagos and evidence of Tax Payments for NRL and OVH from 2015 to date.”

The committee also requested documents on all financial transactions associated with the acquisition, including payment records and fund transfers.

In September 2023, the Group Chief Executive Officer of NNPC Ltd, Mele Kyari, while appearing before the committee investigating the acquisition, said NNPC Ltd now operates like a private limited liability company and entered the commercial relationship with OVH to take over market shares in the downstream petroleum market shares. He said NNPC Ltd did nothing wrong in the acquisition.

Meanwhile, some NNPC Retail ‘concerned staff’, in a letter dated 25 September 2023, addressed to the chairman of the House Committee, and signed on their behalf by Mohammed Muazuo, noted that the request by the committee was not met.

In October 2023, Mr Nalabraba presented a report on the investigation.

In February, the House of Representatives dissolved the committee investigating the controversial acquisition after the panel presented a report many lawmakers described as “suspicious and shabby.” The task was subsequently transferred to the House Committee on Petroleum Resources (Downstream) for a fresh investigation.

In January, NNPC Ltd announced that it was unable to complete the OVH acquisition. It said it intends to apply for operating licenses for the facilities under OVH Energy Marketing Limited.

PT

Afenifere, the Yoruba socio-political organization, has expressed deep concern over the current state of Nigeria under President Bola Tinubu's administration. In a communique issued after their regular monthly meeting, held on Tuesday, August 27, 2024, the group highlighted the distressing condition of the nation, lamenting the pervasive hardship, insecurity, and economic turmoil that have plagued the country since Tinubu took office over a year ago.

The communique, signed by Deputy Leader Oladipo Olaitan and Deputy Secretary-General Alade Rotimi-John, emphasized the widespread disillusionment among Nigerians. Afenifere noted that the public is grappling with severe challenges, including runaway inflation, massive unemployment, and a general sense of hopelessness. The organization described the government's approach as reckless and indifferent, particularly in its handling of public revenue and expenditure.

Afenifere cited several instances of what it termed "profligate" spending by the Tinubu administration. These include the purchase of an Airbus A330 jet for $150 million (N240 billion) for the President, N950 million for new armored Cadillac Escalade Limousines, N21 billion for a new mansion for the Vice President, N90 billion in subsidies for religious pilgrimage, and N10 billion for the renovation of the Presidential Lodge in Lagos. The organization expressed shock at the scale of these expenditures, which it said have contributed to Nigeria's poor international image.

In addition to criticizing the government's spending habits, Afenifere accused the Tinubu administration of employing diversionary tactics to distract the public from pressing national issues. The group pointed to the re-introduction of the old National Anthem and a controversial move to seek a Supreme Court ruling that would make local governments federating units, contrary to the provisions of the 1999 Constitution.

Afenifere also voiced alarm over what it described as a growing threat to press freedom in Nigeria. The group condemned the harassment and detention of journalists who have been critical of the government, urging the administration to respect the constitutional right to freedom of expression as enshrined in Section 39 of the Constitution.

In response to the current state of affairs, Afenifere reiterated its call for comprehensive reforms to improve governance in Nigeria. The group advocated for the implementation of the Oronsaye Report to reduce the cost of governance, the immediate devolution of powers in line with federal principles, and the long-demanded restructuring of the country.

The meeting, presided over by Oladipo Olaitan, concluded with a strong message to the Tinubu administration: address the nation's pressing issues with urgency and foresight, or risk further alienating an already disillusioned populace.

Israeli forces launch strikes across Gaza, push tanks into central Khan Younis

Israeli forces sent tanks deeper into Khan Younis in the southern Gaza Strip and launched strikes across the enclave as they battled Hamas-led militants, killing at least 34 Palestinians on Wednesday, according to medics.

Residents of Khan Younis said Israeli tanks made a surprise advance into the centre of the city, and the military ordered evacuations in the east, forcing many families to run for safety, while others were trapped at home.

Palestinian health officials said the Israeli strikes in Khan Younis killed at least 11 people.

In the central city of Deir Al-Balah, where at least a million people were sheltering, an Israeli airstrike killed eight Palestinians near a school housing displaced families, medics said.

In Nuseirat, in the central Gaza Strip, journalist Mohammed Abed-Rabbo was killed along with his sister in an Israeli attack on their house, medics said. Gaza's Hamas-run government media office said Abed-Rabbo's death raised the number of Palestinian journalists killed by Israeli fire to 172 since Oct. 7.

In recent days, Israel has issued several evacuation orders across Gaza, the most since the beginning of the nearly 11-month-old war, prompting an outcry from Palestinians, the United Nations, and relief officials over the shrinking of humanitarian zones and the absence of safe areas.

The Israeli military said it ordered the evacuation in areas where Hamas and other militants staged attacks, including rocket firing into Israel.

The armed wings of Hamas and the Islamic Jihad said fighters were engaged in clashes with Israeli forces in different areas across the territory, firing anti-tank rockets and mortar fire.

More than 40,500 Palestinians have been killed in the war, according to Gaza's health ministry. The crowded enclave has been laid to waste. Most of its 2.3 million people have been displaced multiple times and face acute shortages of food and medicine, humanitarian agencies say.

Reuters

WESTERN PERSPECTIVE

Ukraine says fear of escalation among allies is major problem

Ukraine's top diplomat said on Wednesday that the biggest problem faced by Kyiv as it battles Russia is that its allies are afraid of approving new policies to support Ukraine out of a fear of escalation.

The remark by Foreign Minister Dmytro Kuleba came a day after Russia's foreign minister said the West was "playing with fire" by considering allowing Kyiv to strike deep into Russia and warned of the risks of World War Three.

"Ever since the beginning of the large-scale invasion, the biggest problem Ukraine has been facing is the domination of the concept of escalation in the decision-making processes among our partners," Kuleba said.

More than 2-1/2 years since Russia's full-scale invasion, Kyiv is pushing the West to give it the long-range weapons - and the authorisation - to strike targets deep inside Russian territory. It also wants help shooting down incoming missiles.

Kuleba made the comment during a conversation with Polish Foreign Minister Radosław Sikorski that was broadcast live from Poland.

"The war is always about a lot of hardware: money, weapons, resources but the real problems are always here, in the heads," he said.

"Most of our partners are afraid of discussing the future of Russia... This is something that is very upsetting because if we do not speak about the future of the source of threat, then we cannot build strategy," he said.

Ukraine has relied heavily on the West to supply it with weapons and hardware and financial assistance to hold out against Russia and fight back against Moscow's troops.

Kyiv launched a major cross-border offensive into Russia's Kursk region on Aug. 6 in what Russian President Vladimir Putin has called a "massive provocation".

During the meeting with Kuleba, Poland's foreign minister Sikorski said that while Russian is using long-range weapons against Ukraine, allies should "let Ukraine fight with whatever it has, with whatever we have delivered them and let’s deliver them more."

He said that Republican U.S. presidential candidate Donald Trump's people have an idea on how to end the war. "Some of these people say the plan is to accelerate the end of the war by threatening Putin with the escalation," Sikorski said.

The foreign minister suggested using other incentives to stop the war. "Help us to persuade some of our the European allies to not just extend the loan on the basis of frozen Russian assets but let us confiscate the assets from the aggressor and give it to the victim of aggression," he said.

Russia's full-scale invasion has killed thousands of civilians, destroyed cities and forced millions of people from their homes.

RUSSIAN PERSPECTIVE

Russian bomb hits hangar hiding US-made weapons – MOD

A Russian warplane has bombed a location in Ukraine’s Sumy Region, which was used to hide a Western-donated HIMARS rocket system and munitions, the Russian Defense Ministry claimed on Wednesday, sharing footage of the strike.

The settlement where the incident took place was identified by the military as Kondratovka, a village some 3km from Russia’s Kursk Region. Ukrainian forces poured across the border earlier this month in what Kiev now claims to be an operation to establish a “buffer zone” on Russian soil.

The strike was apparently conducted during the night at a cluster of hangar-type buildings located in the western part of Kondratovka. Filmed from the air, the footage shows what appears to be a gliding bomb hitting the target and causing a massive explosion.

The ministry stated that the Russian Air Force had destroyed a HIMARS launcher, enough munitions to fire six barrages, a loader vehicle, and a support car. The wheeled system is compatible with the tracked M270 MLRS and normally carries a single pod with six standard rockets, compared to two pods for the heavier launcher.

Kiev is using Western-donated weapons in its incursion into Kursk Region. An update released by the Russian ministry on Tuesday said Ukrainian troops had lost four HIMARS launchers and one MLRS launcher during the operation, along with dozens of other pieces of heavy weaponry.

Vladimir Zelensky claimed on Tuesday that the incursion was part of a “victory plan,” which he intends to present soon to US President Joe Biden for consideration. He said its success depended on whether the Americans would “give us things in that plan or not.”

Reuters/RT

Is this what “E mi lokan” truly means? Squandering billions of public funds to indulge President Bola Tinubu’s appetite for luxury while millions of Nigerians suffer under the economic hardship his administration has brought upon them?

Last week, amidst reports of Chinese companies seizing Nigeria’s valuable national assets abroad over defaults in contract agreements, and worsening living conditions, an Airbus A330 aircraft, costing $150 million and reported to be the new presidential jet, made a bold landing at Nnamdi Azikiwe International Airport in Abuja. The week before, it was reported that the presidency had taken delivery of a fully-optioned Cadillac Escalade, worth about $500,000. When you add the presidential yacht purchased last year for around N6 billion, it becomes evident that Tinubu, who has repeatedly asked Nigerians to endure his harsh economic measures, shows no intention of curbing his indulgence, despite preaching austerity to the public. His message to Nigerians questioning this extravagance seems clear: whether in the air, on land, or at sea, he will not be denied his desire to live lavishly at the expense of the nation. After all, as he told us during the elections, he bought his “E mi lokan” (It's my turn) with his own money. If Nigerians cannot understand that this is what his presidency is about, they can, as far as he is concerned, take a running jump off a cliff.

But while Tinubu’s bluntness on this issue might be appreciated, what is truly galling is the clumsy, unsophisticated, and ignorant attempts by some of his aides to justify these purchases. The most common defense is that, despite the dire economic situation, the president should not be deprived of the means for decent and safe air travel, fitting for Nigeria’s status in Africa and the world. This suggests that the planes already in the presidential fleet are not suitable for the president's use and should be mothballed.

One presidential aide even displayed his ignorance by claiming that the purchase of the A330 jet will save the country money in maintenance costs because it is relatively newer than the others in the fleet, which have been consuming significant funds due to their age. However, had the aide done proper research, he would have realized that a plane's condition depends on its maintenance, not necessarily its age. Regardless of age, all planes must undergo mandatory checks like the C and D checks when due, whether the aircraft has been used or not, and these checks involve significant costs. Moreover, if the A330 is operated by a foreign crew, the costs will not be substantially lower, if at all. Therefore, claiming that the new presidential jet will reduce maintenance costs is either ignorance, deception, or both.

Another influencer, aligned with the administration, defended the purchase by comparing Nigeria’s situation to that of the United States, noting that a new plane for the U.S. president costs around $4 billion, so Nigerians should not complain about the $150 million spent on Tinubu’s A330. However, many Nigerians see this as comparing apples to oranges, as Nigeria and the U.S. are not comparable by any measure.

When we consider the billions allocated for renovating Dodan Barracks in Lagos into a luxurious residence, as well as the Vice President’s residences in Lagos and Abuja, it becomes clear that the Tinubu administration is engaged in a contradictory and cynical deception regarding its calls for Nigerians to endure the harsh economic policies.

What is evident from all this, and what Nigerians must come to terms with, is that Tinubu assumed power with a mission to build and consolidate a personal economic and political monopoly, making all Nigerians beholden to him. This aligns with his “E mi lokan” declaration, which is unfolding before our eyes. Nigerians should not expect Tinubu to deny himself the luxuries and perks of the presidency he fought so long to attain.

Likewise, Nigerians should not expect any relief from the prevailing economic hardship, as the resources needed to develop education, healthcare, and other essential services will be diverted to build the economic and political empire Tinubu has long coveted. Nigerians must accept this as a fait accompli because it is Tinubu’s time to fulfill his destiny, and he will pursue it with ruthless determination, whether Nigerians like it or not. The only relief they can expect are the paltry “palliatives” thrown their way periodically when they cry out.

** Gadu can be reached via This email address is being protected from spambots. You need JavaScript enabled to view it. | 08035355706 (Texts only)

Ashton Jackson

Constantly putting others before yourself can be noble, but the people-pleasing trait may come with some toxic pitfalls.

If you ever catch yourself feeling emotionally drained — like you're never able to say "no," or you'll lose your status as an exceptional employee, for example — you might be in trouble, according to Hailey Magee, author of the self-help book, "Stop People Pleasing and Find Your Power," published in May.

"I define people-pleasing as the act of putting others' needs, feelings, wants and dreams first at the expense of your own needs, feelings, wants and dreams," Magee recently told the Harvard Business Review's "HBR IdeaCast" podcast. "So it's not just being kind and generous, but it's sacrificing yourself in the process of doing so."

Magee, who also works with clients to help them moderate their people-pleasing tendencies, said the trait usually shows up in three ways in the workplace:

1. Being unwilling to express your needs, like time off or an extended deadline after adding more to your workload.
2. Picking up the slack for your colleagues on an assignment or group project, tiring yourself out in the process.
3. Giving in to societal pressures, like code-switching as a person of color or being soft-spoken as a woman.

The trait is a common one: In a 2022 YouGov survey of 1,000 U.S. adults, 49% of respondents said they're definitely or probably people pleasers. Professionals who identify as "givers" at work — or often ask the question, "What can I do for you?" — tend to be well-liked by their bosses and colleagues, according to Wharton organizational psychologist Adam Grant.

But it can be at their own expense. "When we're giving through the lens of people-pleasing, outside we may seem easygoing or happy or flexible. But inside, we usually feel resentful or overwhelmed or overworked," said Magee.

How to kick the habit when it turns harmful

People-pleasing isn't inherently bad. You just need to recognize when it's having a negative affect on you, Magee said. Pay attention to moments when you find yourself going over and beyond for others, and how you feel physically or emotionally after doing so.

"So many of us have this habit without being fully aware of it, and so it really helps when we can draw our attention to, OK, when am I people pleasing? What are the signs that something isn't working for me?" said Magee.

Once you're aware of your tendencies, you can create a new habit of removing yourself from the situations that compel them. Try developing a "personal policy" around your emails and other messages, author and leadership coach Melody Wilding wrote on LinkedIn in February: Give yourself a grace period before you respond to anything that isn't truly urgent.

Maybe you stop accepting meetings after 2 p.m., to guarantee yourself time to finish each day's tasks. Or, use "strategic silence," as Wilding put it: Intentionally stay quiet in moments when you'd otherwise raise your hand for extra work or to assist someone else. You'll train your brain to think before acting, and give yourself a stronger sense of control, she wrote.

You probably don't need to stop helping others at work altogether. If you have some extra time to assist someone, and you aren't already feeling burnt out or overwhelmed, doing so can make you feel happier and strengthen your workplace relationships. But don't make it the norm, Magee warned. 

People-pleasing "usually harms us more than it helps," she said. "It does actually benefit your workplace for you to be able to show up rested, balanced, and not feeling this subtle lurking resentment toward your workplace and your colleagues."

CNBC

Over 100 property owners in Lafiaji community, Eti-Osa Local Government Area of Lagos State, are planning legal action against the Federal Government as they are being issued demolition notices to evacuate their properties for the Lagos- Calabar Highway construction.

This was made known in a statement titled, ‘Being the text of a press conference addressed by Property Owners and Residents of Lafiaji Community, Eti Osa Local Government Area, Lagos State on the distortion in the construction of the Lagos-Calabar coastal highway by arbitrary deviation from the long-established right of way by the Minister Of Works and the threatened unlawful demolition of their property at Lafiaji Community, Eti Osa Local Government Area, Lagos State,’ on Tuesday.

The property owners accused the Minister of Works, David Umahi, of altering the original right of way to shield prominent politicians.

In the statement, they claimed that they followed due process in acquiring their lands, adding that in the acquisitions of their plots of land and in building their property, they were well informed about the Right of Way, clearly marked, beaconed, and established for the Lagos-Calabar Coastal Highway, and, therefore, ensured that they did not encroach on or trespass to the established Right of Way.

The statement read in part, “In the acquisition of our plots of land and development of our respective homes and property, we obtained requisite consents of the Lagos State Government to our deeds of assignments, had our respective survey plans hewed from the approved Ojomu Family Layout Plan, and obtained all the necessary building approvals and development permits from the relevant agencies of the Lagos State Government.

“However, there are those who, overtime, have built on the said Right of Way and constructed huge estates crisscrossing same in the illusion that the Lagos-Calabar Coastal Highway would never be built, without any valid legal title to the land on which they built; or with government officials-assisted fabricated certificates of occupancy with embossed survey-plans (the area coordinates of which truly are that of lands adjacent and proximate to the Right of Way, but which are passed off as that of lands situated within or covered by the Right of Way, to obtain certificates of occupancy). These persons also either did not obtain valid building approvals and development permits from the relevant agencies of the Lagos State Government or were assisted by corrupt officials of government to obtain doctored documents.

“As an outcome of the recent visit of the Honourable Minister of Works and Federal Controller of Works to the communities affected by the construction of the Lagos-Calabar Coastal Highway, especially regarding compliance with the enforcement of the Right of Way, valuation of affected landed property, service of removal and demolition notices, and compensation, the Honourable Minister of Works and the Federal Controller of Works decided to deviate from the scrupulous implementation of the Right of way by specifically directing surveyors of the Federal Government of Nigeria (Ministry of Works) on the project to establish a fresh Right of Way, create a new alignment and  alter the road-course  into the area where our clients’ plots of lands and houses are situate, an area which was not covered by the long established Right of Way.”

The project, designed to connect Lagos to Cross River, passes through the coastal states of Ogun, Ondo, Delta, Edo Bayelsa, Rivers and Akwa Ibom, before culminating in Cross River.

But the coastal highway has been a subject of public scrutiny and controversies since the government commenced construction in March.

In May, Umahi disclosed that 750 houses on the path of the highway had been marked for demolition but owners of affected property were displeased with the government compensation, claiming it did not match their investments.

According to them, the compensation is grossly inadequate and there is the need for the government to review the payment.

The founder of Leisure Games, Olanrewaju Ojo, who got N1.3m compensation, told The PUNCH that the amount was what he could generate in a week.

He said, “This is ridiculous! What am I supposed to do with this? I will make this in a week.”

Stakeholders and experts also condemned the road procurement process, stressing that the contract awarded to the construction company was shrouded in secrecy and bypassed the proper procurement process.

The Lafiaji community residents noted that they wrote protest letters to President Bola Tinubu and the Governor of Lagos State, Babajide Sanwo-Olu, amongst other public officers, to seek redress.

“Surprisingly, our relief was short-lived as the officials of the Federal Ministry of Works subsequently resumed in our community to mark our buildings afresh, and to inform us that our property and homes are still very much within the Lagos-Calabar Coastal Highway course and that the new alignment had not been jettisoned as far as our lands and property were concerned.”

Petrified, they stated that they immediately embarked on an investigation, visiting the Lagos State Lands Bureau, Lagos State Office of the Surveyor-General, and the Federal Ministry of Works, Lagos.

They posited, “We have discovered to our chagrin that the Honourable Minister of Works has disregarded and rebuffed the clear directive of the President of Nigeria, as far as our lands in the Lafiaji Area is concerned. From our findings, we make bold to say that the Honourable Minister of Works has an improper and less than patriotic reasons for arbitrarily directing a departure from the long-established Right of Way for the construction of the Coastal Highway, in the Lafiaji Area.

“This is the reason, from our findings, the minister has found it difficult to follow the presidential directive in the Lafiaji Area. We discovered that amongst some huge housing estates that allegedly have sprung up illicitly on the long-established Right of Way are Ocean Bay Estate and others. The developers of these estates and some of the owners-occupiers of buildings therein are alleged to have strong political connections, ethnic ties, and social links with the powers that be.

“Therefore, the Minister of Works, in an unabashed display of nepotism, as alleged, “ruled” that the property and buildings in these estates are too valuable to be demolished, and that demolishing them would attract huge compensation from the Federal Government. In consequence, it is being alleged that the Minister of Works directed that the Right of Way be altered away from the established path and the said estates and that this new alignment be made through our lands which were never established as the original Right of Way.”

They asserted that after deciding to alter the Right of Way, the Minister of Works found a pretext for their actions by labeling their property as shanties to create the false impression that they were unlawful settlers and illegal occupiers.

“It is our considered but firm position that the decision of the Minister of Works to change the Right of Way and, therefore, the course of the Highway is an abuse of power and unlawful exercise of ministerial discretion. The Minister has no latitude of executive prerogatives to do what he has directed should be done. We dare say that, after the President of the Federal Republic of Nigeria has specifically directed a reversion to the old, long-established Right of Way, the adamancy of the Minister amounts to an act of ministerial lawlessness!

“As a result of the action of the Minister of Works, we are now being confronted with the prospect of being rendered homeless. The landed properties affected are not just realty investments but also the homes of many of us. Some of us currently are overseas and, therefore, are in no position to vacate and yield up possession of our property for demolition within the unreasonable time we were unconscionably given to flee our abodes.

“We appeal to Tinubu to call the Minister of Works to order and direct him to abandon his whimsical and capricious new alignment for the Lagos-Calabar Coastal Highway at Lafiaji, Eti Osa Local Government Area, and revert to the original long-established Right of Way, as the President had earlier directed.”

The Federal Government had in June said it had rerouted the Lagos-Calabar Coastal Highway path to avoid any possible damage to subsea cables belonging to telecommunication companies.

The government also said it had reduced the project’s size from 10 lanes to six as a cost-saving measure for the legacy project.

Umahi, who made the announcements at a meeting with contractors on Tuesday in Abuja, also said the government had disbursed a total sum of N10bn as compensation to property owners affected by the demolition necessary for the construction of the 700km Lagos-Calabar Coastal Highway.

This was as it announced that the first 47km of the project would be open to the public by May of next year.

The legal practitioner representing the community, Jiti Ogunye, said there were so many obstacles involved in proceeding to court on the part of prospective litigants because of the need to reform the judicial process.

He said, “The rules of court are one of the major obstacles, and our courts are congested because our justice dispensation infrastructure is small. However, we want to give it the best shot we can give it because right and morality are on our side, and if we fail, it will not be that we did not try but the system is hostile to success.

“Hence, if we are left with no other choice and if push goes to shove, we will go to court.”

A resident, Bonojo Olalekan, said over 100 property owners were affected by the rerouting.

In a brief call with the Federal Comptroller with the Federal Controller of Works in Lagos, Olukorede Keisha, she referred our correspondent back to the Honorable Minister of Works.

She retorted, “I said you should go to the Honorable Minister.”

Also, several attempts to reach the Special Adviser (Media) to the Minister of Works, Orji Uchenna Orji, through calls and texts were not responded to.

Meanwhile, the Federal Ministry of Environment has announced a 21-day public display of the Environmental and Social Impact Assessment report for the Lagos-Calabar Coastal Highway project.

This was disclosed on the agency’s website on Tuesday.

It stated, “Public display exercise on the Environmental and Social Impact Assessment for the proposed Lagos-Calabar Coastal Highway Section 1 (0km – 47.5km) By Federal Ministry Of Works.

“Following the provisions of the Environmental Impact Assessment Act CAP E12 LFN 2004, which makes it mandatory for proponents of all new major developmental activities to carry out EIA for their proposed projects, the Federal Ministry of Environment hereby announces twenty-one (21) working days public display for information and comments on the draft ESIA report for the above-stated project submitted by Federal Ministry of Works.

“This display is to enable the public to make inputs that shall facilitate informed decision taking by the Ministry on the proposed project.”

The report noted that the project required an ESIA due to the potential environmental and social impacts associated with its construction to comply with international standards and Nigerian regulations.

“The ESIA is a crucial tool for identifying, assessing, and mitigating the potential negative impacts of the Lagos-Calabar Coastal Highway project while maximising its benefits. Alongside the ESIA is the preparation of a Resettlement Action Plan for the Highway. A Resettlement Action Plan is essential for a highway due to the potential for involuntary resettlement.

“The ESIA aims to ensure the project is developed and implemented sustainably, protecting the environment and benefiting the local community. The primary goal of the Environmental and Social Impact Assessment for the Lagos-Calabar Coastal Highway is to identify, assess, and mitigate potential negative impacts on the environment and society.”

The report further noted that the highway was a significant infrastructural development spanning over 700km and divided into nine sections.

It added, “Work will begin with Section 1, which spans from 0km to 47.5km in Lagos. Section 1 includes development activities related to transportation, coastal resort facilities, hotels, and recreational facilities in national parks and marine parks.

“The project’s impact assessment has a phased approach to demonstrate a commitment to environmental and social considerations. This ESIA report specifically focuses on Section 1, providing a foundation for subsequent sections. The ESIA evaluates the environmental and social impact of a plan, policy, program, or project before deciding to proceed with the proposed action.

“It covers various aspects, including the environment’s physical, biological, socio-economic, and health elements. The ESIA will describe project activities and identify potential impacts on air, water, soil, vegetation, wildlife, land use, and affected individuals and assets.”

Punch

According to a recent report from the National Bureau of Statistics (NBS), the prices of essential food items such as beans, tomatoes, and eggs have skyrocketed over the past year, with increases exceeding 200%.

The report, titled “Selected Food Price Watch for July 2024”, reveals that the average price of 1kg of brown beans (sold loose) reached N2,444.81 in July 2024. This represents a staggering 262.98% increase from N673.53 recorded in July 2023, and a 6.63% month-on-month rise from N2,292.76 in June 2024.

Similarly, the price of a dozen medium-sized agricultural eggs rose by 217%, from N1,006.64 in July 2023 to N1,935.69 in July 2024. On a month-on-month basis, the price increased by 12.11% from N1,935.69 in June 2024.

The price of 1kg of tomatoes also saw a significant jump, increasing by 203.57% year-on-year, from N557.96 in July 2023 to N1,693.83 in July 2024. However, on a month-on-month basis, the price decreased by 26.43% from N2,302.26 in June 2024.

The report further highlighted that the average price of 1kg of white garri (sold loose) surged by 167.98%, from N429.89 in July 2023 to N1,151.79 in July 2024. Additionally, the average price of 1kg of yam tuber rose by 234.23%, from N539.41 to N1,802.84 during the same period. Despite this, the price of yam tuber decreased by 10.82% on a month-on-month basis, from N2,021.55 in June 2024 to N1,802.84 in July 2024.

On a state-by-state basis, the report noted that Rivers State recorded the highest average price for 1kg of brown beans at N3,070.96, while Adamawa State had the lowest price at N1,532.23. The highest average price for 1kg of tomatoes was found in Osun State at N3,000, whereas Kaduna State recorded the lowest price at N761.45.

For 1kg of yam tuber, Kwara State recorded the highest price at N3,894.08, while Adamawa State had the lowest at N742.95. In terms of garri, Gombe State had the highest average price for 1kg of white garri sold loose at N1,624.72, while Taraba State reported the lowest price at N892.98.

This sharp rise in food prices underscores the growing economic challenges facing Nigerians, as inflation continues to impact the affordability of basic commodities.

The state of Nigeria's teaching hospitals is a dire reflection of the broader challenges plaguing the nation's healthcare system. Established to serve as centers of medical excellence, these institutions are now themselves in critical condition, grappling with issues that threaten not only the lives of patients but also the economic stability of the nation.

The problems are multifaceted. Hospitals like the University College Hospital in Ibadan and the University of Port Harcourt Teaching Hospital face severe shortages in medical equipment and staff. The absence of functioning MRI machines, outdated mammography equipment, and unreliable power supply are not just inconveniences—they are life-threatening deficiencies. This situation is further compounded by the exodus of qualified healthcare professionals, who leave in search of better opportunities abroad. This brain drain exacerbates the already critical shortage of doctors and nurses, leaving the remaining staff overwhelmed and overworked, leading to increased medical errors and compromised patient care.

The economic implications of this healthcare crisis are profound. With teaching hospitals unable to provide adequate care, those who can afford it seek medical treatment abroad, draining the country's scarce foreign exchange reserves. This "medical tourism" not only depletes national resources but also underscores the widening inequality in access to healthcare within the country. Those left behind—unable to afford treatment abroad—suffer in a system that is failing them.

The solution to this crisis requires a multifaceted approach. First, there must be a substantial increase in funding for the healthcare sector. This funding should prioritize the procurement and maintenance of modern medical equipment, ensuring that hospitals are equipped to handle the diagnostic and therapeutic needs of patients.

Second, addressing the power supply issues is crucial. Hospitals cannot function without reliable electricity, and the current reliance on expensive generators is unsustainable. Investing in alternative energy sources, such as solar power, could provide a more stable and cost-effective solution.

Furthermore, the government must take immediate steps to stem the brain drain. This could be achieved by improving the working conditions and remuneration of healthcare professionals, ensuring that they are adequately compensated and have access to the necessary tools to do their jobs effectively. Additionally, the recruitment of new staff should be expedited, particularly in institutions like the Osun State University Teaching Hospital, where no significant hiring has occurred in over a decade.

Finally, there needs to be a reevaluation of the management and operational structures of these teaching hospitals. Clearer lines of accountability must be established to ensure that funds allocated for healthcare are used efficiently and transparently. The involvement of private partnerships, as seen in some hospitals, should be explored further, but with stringent oversight to prevent exploitation and ensure that patient care remains the primary focus.

In conclusion, the current state of Nigeria’s teaching hospitals is a national emergency that requires immediate and sustained action. Without intervention, the cycle of decline will continue, with devastating consequences for the health and well-being of the nation. It is time for the government, healthcare professionals, and the private sector to come together to revive these critical institutions, ensuring that they fulfill their intended role as centers of medical excellence and not symbols of a failing system.