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Nigeria limping towards disaster, says Emeka Anyaoku

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  • Osinbajo, Soyinka, Osoba hail Ogunbiyi at 75
  • Duke blames elites for decay in education

Former Secretary-General of the Commonwealth, Chief Emeka Anyaoku, yesterday, warned that Nigeria will continue to limp and underperform if she fails to revert to the constitution negotiated by her founding fathers.

Anayoku said this as a guest of honour at the book presentation of Yemi Ogunbiyi’s memoirs, ‘The Road Never Fails’, held in Lagos to celebrate the author’s 75th birthday.

Apart from decrying the state of the nation, Anyaoku and other notable Nigerians, including Vice President Yemi Osinbajo; Nobel Laureate, Professor Wole Soyinka, and former governor of Ogun State, Aremo Olusegun Osoba, paid glowing tributes to the former managing director of Daily Times, Dr. Yemi Ogunbiyi, for bringing intellectualism to the journalism profession.

In his keynote address, Professor Osinbajo said Ogunbiyi is capable of telling a story without embellishments.

Osinbajo said, “I think that by and large, for anyone who has read this book or will, you will notice that all that Dr Ogunbiyi wants to achieve in this book is to tell a story, not just of himself but also of our country. And I must confess that in this book, not only does he discharge that obligation, he has also shown that he is one who is capable of telling a story without embellishments.

“A young nation lost its innocence, just as the six-year-old Yemi Ogunbiyi lost his, but he has become the brilliant university teacher, newspaper executive, connoisseur of wines, and collector of fine arts. So, in telling this compelling story, we are led through the nationalistic idealism of our pre-colonial days, the excitement of civil rule, the military rule, the return of civil rule and other minor contemporary events, but he engages every subject honestly, openly and frankly.”

The former Commonwealth scribe expressed worry over the current state of the country, saying Nigeria can make a fresh start to effectively tackle the myriad of challenges.

Urging Nigerians not to vote any politician who is not committed to restructuring the country to fiscal federalism, he said: “The pictures that emerge from the book show that Nigeria has largely been on the decline during the period in question and in Yemi’s words; Nigeria needs a fresh start, new thinking and a new beginning.

“I want to repeat the essence of what I have said in many occasions about how Nigeria can make a start if it wants to effectively tackle the myriad of challenges that I have listed in the indices. Informed by my long association with governance in the 54 Commonwealth countries, some of which are as pluralistic as Nigeria, my view remains that we cannot begin to successfully deal with our challenges with the governance system we currently operate.

“With our present federal structure, the country will only continue to limp along and to underperform with a growing threat of a national disaster.

“To achieve political stability and to unleash the country’s inherent abilities, we need a governance system that is a true federation with appropriate devolution of powers from the centre to more viable federating units as against the current largely not viable 36 units we have.

“The facts, I believe, are there to show any observer that Nigeria, notwithstanding the years it was held together by military fiat at the centre, began its drift and decline to its present, indisputably perilous state when it abandoned the truer federal constitution on the basis of which our founding fathers negotiated our independence.

“We should return to a governance system that is based on the lines of our constitution.

“If among other challenges we are to arrest the killings of ordinary people, the latest example being the reported killing four days ago of over 80, with the further abduction and the burning of several houses in Plateau State.

“As the country is now gearing up to the 2023 general elections, I urge all the prospecting candidates to commit themselves to prioritizing the reformation of the country’s present governance system and more importantly, I urge the electorate, our people, not to vote for any candidate who fails to pledge to do that.”

Anyaoku, however, commended Ogunbiyi for his contributions to his emergence as the Secretary General of the Commonwealth.

He said, “I am delighted to be part of this memoir by Yemi Ogunbiyi. In his career as a university teacher, journalist, publisher and as what I would describe as a general consultant, Yemi has always performed as a true Nigerian patriot.

“I would like a small diversion to take this opportunity to publicly acknowledge my thanks to Yemi for his contribution to the then Nigerian government’s diplomatic efforts, robustly led by the foreign minister, General Ike Nwachukwu, retd, to assist me to defeat a former Australian Prime Minister of seven and a half years in the election as secretary-general of the Commonwealth.”

Also speaking, former Governor of Ogun State, Olusegun Osoba, commended Ogunbiyi for bringing intellectualism to the journalism profession

Osoba said, “When I went into politics, the remarks I kept getting from my rivals were that, ‘Yes, Osoba was a great journalist but everywhere he went he recreated newspapers; The Herald, the Sketch and then the Daily Times, but after he left everything collapsed.’ But this is false because Yemi Ogunbiyi continued to create profitability when he succeeded me as the managing director of the Daily Times and I am happy that he achieved better than I did.”

Professor Wole Soyinka described Ogunbiyi as a hyperactive individual.

He said, “When Yemi was teaching at Ife in my department which I was head at the time, he and another businessman, the late Alex Ibru, got together, behind my back, conspired to effect Yemi’s detachment from the academic world for a time. Eventually, they cooked it all up. One day, Alex came to my office and said I am about to take Yemi Ogunbiyi away from you. I said, ‘Is it the same hyperactive Yemi Ogunbiyi? You can have him. I (also) said, ‘This place is too small to contain him; he needs a larger space. Take him away, when he gets tired of you, he will come back.’ I am so happy that a school has been named after him and I think that is the most important gesture and development especially for us in this country. I want to lobby all of you to support this noble cause.”

Former Governor of Cross River State, Mr Donald Duke, said aside from political reforms, there was a need to reform the justice sector.

“Mr Vice President, before you arrived, Chief Emeka Anyaoku did say something symbolic. He said that any candidate that does not make political reforms should not be voted for. I am going to add mine. There should be judicial reforms because if there is no justice, there will be no peace.”

He blamed the elites for the decay in the education sector. He said, “We the elites are responsible for the shortcomings of our nation, the way we raise our children leaves a lot to be desired. We sent our children outside the country, because those of us who run the society have no say in the school system.”

Some of the prominent people present at the event are Vice-President Yemi Osinbajo, Governor Kayode Fayemi of Ekiti State, Governor Dapo Abiodun of Ogun State, former governor of Ogun State, Aremo Segun Osoba; Minister of Trade and Investment, Mr Niyi Adebayo; Minister of Interior, Ogbeni Rauf Aregbesola; Deputy Governor of Osun State, Mr Benedict Alabi; Deputy Governor of Ondo State, Mr Lucky Aiyedatiwa, and another former Ogun State governor, Otunba Gbenga Daniel.

Others are the Akarigbo of Remoland, Oba Babatunde Ajayi; former Foreign Affairs Minister, Major General Ike Nwachuckwu, retd; former Governor of Cross River State, Mr Donald Duke; Mr Ray Ekpu and Nobel Laurate, Professor Wole Soyinka; and Publisher of The Guardian Newspapers, Mrs Maiden Ibru.

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Your assessment misleading, APC tackles Obi over socio-economic situations

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Peter Obi and Felix Morka

Your assessment misleading, APC tackles Obi over socio-economic situations

One-time Anambra State Governor Peter Obi came under a scathing criticism yesterday from the ruling All Progressives Congress (APC) over his assessment of the security and economic situation of the country.

At a news conference, Obi disagreed with the claims of President Bola Ahmed Tinubu in his New Year Day address which chronicled the feats attained by the APC-led administration.

Obi alleged that the political, economic and security situations in the country have worsened under the incumbent administration.

But the APC, through its National Publicity Secretary, Felix Morka carpeted Obi, describing his assessment as jaundiced, misleading and an attempt to score cheap political points.

In a statement, Morka put a lie to Obi’s claims.

He noted that Obi’s assessment was at variance with all indicators that showed that the nation’s economy is rebounding in significant measure across all sectors.

Dismissing Obi’s claims, Morka said: “While Nigerians celebrated the New Year with hope for a more glorious 2025, Peter Obi, former Governor of Anambra State and former presidential candidate of the Labour Party (LP) in the 2023 general elections, was seemingly stuck in replay of his jangling, gloom-ridden wish-list for our country.

“Obi’s new year message, in which he claimed that the political, economic and security situation of our dear country is worsening daily, is misleading and appears intended to score cheap political points.

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“This claim, at a time when all indicators show that our country is rebounding in significant measure across all sectors, casts Obi, squarely, as Nigeria’s leading doomsayer.”

Morka, who reeled out the achievements of the APC-led administration, said: “In reality, 18 months later, the economy under President Bola Ahmed Tinubu’s administration, has showed steady record of progress.”

He listed the landmarks as:

The ruling party further argued: “Despite these and other initial beneficial outcomes of ongoing unprecedented reforms, the administration is doubling its effort to ensuring that the reforms deliver their fullest benefits for the sustainable growth and transformation of our country.”

The ruling party said that the Presidential New Year message acknowledged that the “cost of food and essential drugs remained a significant concern for many Nigerian households. And to reverse this trend, Mr. President assured that his administration was committed to lowering food prices by boosting food production and promoting local production of drugs.”

The party also highlighted Tinubu’s resolve to crash the current inflation rate from 34 per cent to 15 per cent in the course of this fiscal year as a move to addressing the threat inflation poses to the country’s economy.

The statement further reads: “With the vigour in the administration’s war on corruption, evidenced by ongoing investigations and trial of  well-heeled Nigerians, Obi’s pontification on the urgent need to tame corruption is a clear case  of carrying coal to Newcastle.”

Faulting Obi, the party said: “It is a thing of irony that Peter Obi, who now arrogates to himself to be omniscient and philosopher’s stone, when it comes to our nation’s challenges, left no record of significant achievement, let alone transformation of any kind, in his eight-year tenure as Governor of Anambra State.

“Like his co-travellers in the Peoples Democratic Party (PDP), Obi’s obsessive pessimism and endless but futile effort to incite public outrage against the administration is borne out of their realisation that President Tinubu is unwittingly cementing their ultimate political irrelevance by his visionary and full-throttle reform and transformation of the fundamental pillars of our national life.”

Appealing for citizens’ support and patience, the APC spokesman assured Nigerians that “under the banner of the Renewed Hope Agenda (RHA), President Tinubu is dutifully turning our nation’s fortunes around.

“He (Tinubu) deserves the support  and patience of Nigerians in order to consolidate on the deep economic foundation he has laid, and deliver a vibrant, prosperous new Nigeria for the good of all.  We urge Nigerians to remain confident of better days ahead.”

Your assessment misleading, APC tackles Obi over socio-economic situations

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Currency in circulation now N4.8tn – CBN report

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Currency in circulation now N4.8tn – CBN report

Currency in circulation has reached an all-time high of N4.8 trillion as of November 2024, recording over seven per cent increase from the previous month.

Also, currency outside banks grew significantly in the same month hitting an all-time high of N4.6 trillion from the N4.2 trillion in the month of October.

These figures were contained in the money and credit supply data from the Central Bank of Nigeria (CBN).

The currency in circulation is the amount of cash–in the form of paper notes or coins–within a country that is physically used to conduct transactions between consumers and businesses.

It represents the money that has been issued by the country’s monetary authority, minus cash that has been removed from the system.

Similarly, currency outside a bank refers to cash held by individuals, businesses and other entities that is not stored in banks.

The currency outside the bank represents about 96 per cent of the currency in circulation.

Nigerians have in recent times been facing acute cash shortage with banks limiting daily withdrawal at Automated Teller Machines (ATMs) to N20,000 irrespective of the number of accounts held by an account owner.

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According to the latest data, the currency in circulation grew by seven per cent to reach 4,878,125.22 from 4,549,217.51 in October.

Currency in circulation has grown steadily in the outgoing year 2024 with over one trillion naira added to cash in circulation after starting the year with N3.65 trillion in January.

In February, the currency in circulation slightly increased to N3.69 trillion representing an increase of N43 billion or 1.18 per cent from the January figure.

March also saw an appreciable increase to N3.87 trillion while it further increased to N3.92 trillion in the following month of April.

The growth trajectory continued in May with the currency in circulation increasing slightly to N3.97 trillion, an increase of N42 billion or 1.07 per cent while it reached an all-time high of 4.04 trillion, an increase of 2.11 per cent from May.

The July figure also rose marginally with the currency in circulation settling for N4.05 trillion before growing to N4.14 trillion in August and N4.43 trillion in September and N4.5 trillion in October.

In the same vein, currency outside banks grew from N4.2 trillion in October to N4.6 trillion in November, showing increasing preference for other means of storing outside bank deposits.

Economist, Dr. Paul Alaje attributed the development to the expanding money supply, adding, “Money supply is expanding but this may not necessarily be in cash. As it is expanding, it will necessarily induce inflation. But you can’t blame the people. People must look for money. How much was bottled water last year, how much is it today? All of this will induce inflation. If you now ask, what is the cause of inflation? Is it money supply itself or a devaluation policy? It is a devaluation policy. Money supply is an offshoot. So the Central Bank is raising interest rates to actually reduce money supply but the more they try the more money supply expands.”

He stated that the floatation policy of the CBN has created inflation, adding, “It is like chasing one’s tail and I don’t know if you are going to catch it.”

Currency in circulation now N4.8tn – CBN report

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Tinubu not telling Nigerians the truth, says Sule Lamido

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President Bola Ahmed Tinubu

Tinubu not telling Nigerians the truth, says Sule Lamido

President Bola Tinubu has been accused of not being forthright about the true state of Nigeria under his administration.

Former Jigawa State Governor and senior Peoples Democratic Party (PDP) member, Sule Lamido, made the accusation while speaking on the BBC Hausa programme Gane Mini Hanya.

Lamido criticized both Tinubu and former President Muhammadu Buhari for what he described as a lack of transparency in governance.

“Buhari’s and Tinubu’s governments are not being transparent with Nigerians unlike during the time when PDP was in power where everything was transparent and open to all Nigerians,” Lamido said.

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He accused the two administrations of relying on propaganda rather than providing citizens with accurate information.

Lamido also expressed concerns over President Tinubu’s recent loan requests, questioning the logic behind them. “If Nigerians are being told the truth then there is nothing wrong with that, but how would you budget N30tn, generate N50tn and then request loan when you have a surplus of N20tn,” he said, referencing last year’s budget.

He described the situation as “reckless” and “selfish,” adding, “This recklessness and clear-cut selfishness is not done anywhere in the world, but yet you find (some) Nigerians supporting it. Visit social media and see how APC is being criticised, being referred to as calamity, yet you find some protecting it.”

Tinubu not telling Nigerians the truth, says Sule Lamido

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