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Atiku And The Rise Of Peter Obi

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DG, Atiku/Obi, Reveals Plot To Declare Kwara Central Poll Inconclusive

But why Peter Obi? Obi, governor of Anambra State for eight years, survivor of election battles, has proven himself to be an astute politician and leader. As governor, he blocked the leaky buckets. He reduced wastages and leakages. He led by example. He served the people. He left a healthy balance behind in the treasury. He was known across the South-East as Peter the Rock…

Shortly after former Vice President Atiku Abubakar became the flag-bearer of the Peoples Democratic Party (PDP) on October 6, party members and other stakeholders began to recommend running mates for him and a short list began to feature on the front pages of Nigerian newspapers. Some of the names that were mentioned included former Governor Peter Obi; former CEO/managing director, Assets Management Company of Nigeria (AMCON), Mustapha Chike-Obi; former minister of Agriculture and AfDB president, Akin Adesina; former minister of finance and supervising minister of the economy, Ngozi Okonjo-Iweala; former CBN governor, Charles Soludo, and Deputy Senate President Ike Ekweremadu.

For about five days, there were theories and permutations, and a comparison of the credentials of the proposed running mates. Former Vice President Atiku Abubakar has acted pro-actively by quickly putting an end to the speculations. He met with the party leadership, consulted with other interest groups and promptly announced Peter Obi. If this is a sign of how he intends to run Nigeria if he becomes president, then he is off to a good start. In the past week, he also did something else that was clever. He made peace with his former boss, President Olusegun Obasanjo. He asked for Obasanjo’s blessings and Obasanjo, wearing his hat as a seasoned political pragmatist and ebora strategist, endorsed Atiku.

The speech delivered by Obasanjo on that occasion is an elegant study in the art of being important. President Obasanjo said he has forgiven Atiku for his many sins, which he Obasanjo had complained about previously. He described him as someone who has a knowledge of business, who is less inflexible and a “Wazobia” man. There were subtle digs at the incumbent President Muhammadu Buhari, when Obasanjo advised Atiku not to recruit only kith and kin and try to run an inclusive government. In the same speech, Obasanjo reminded Atiku of his indebtedness to the Obasanjo legacy and the need to sustain that legacy. He also set an agenda for the man he described as Nigeria’s president-to-be. He even said “Insha Allah”. Obasanjo in that well-composed speech, practically killed many birds with one stone in many incantatory voices: boss, statesman, and letter-writer.

It was Atiku’s second biggest endorsement since he got his party’s ticket – the first being his victory in Port Harcourt. Obasanjo’s endorsement is particularly significant given the history of the relationship between both men. To add that Obasanjo has voice, influence and authority is to state the obvious, and we need to tell those who argue that Obasanjo has just one vote that they are politically dumb! Atiku’s boss has given him a new testimonial that has refurbished him. Obasanjo who once tore his membership card of the PDP, has also more or less re-oxygenated the party’s presidential aspiration. The panic that this has caused in the Buhari camp is perfectly understandable, even if the resort to name-calling and abuse by the president’s foot-soldiers may be counter-productive in the long run. It won’t make Obasanjo and his associates change their minds. Atiku’s gain is Buhari’s loss.

For a people who believe that they have been short-changed by other Nigerians and that the civil war has not actually ended, the possibility of one of their own returning to the presidency, 35 years after Ekwueme, is bound to promote a sense of belonging. By choosing an Igbo man, Atiku is also exploiting prevailing sentiments in Igboland.

Then came the rise of Peter Obi… Without doubt, all the persons on the shortlist of running mates for Atiku have relative strengths. They have all proven their mettle in the public arena. But with Peter Obi already chosen, we need not indulge in any detailed comparison, except to note that very important to the selection process would have been, not just geo-politics, but also such factors as the temperament of the individual, the chemistry between the principal and the deputy, electoral value, international exposure, acceptability by key stakeholders and public persona.

My take is that former governor of Anambra State, Peter Obi is bound to strengthen the chances of the Peoples Democratic Party (PDP) in the scheduled 2019 presidential elections. He will prove to be an asset to the Atiku campaign and also to the Nigerian government if the PDP wins the presidential election. The announcement of his name has generated so much excitement in Igboland, particularly in his home state of Anambra, where people broke out in dancing jigs at beer parlours, and free drinks were declared. Across the South-East, his Igbo kinsmen are also similarly excited. Those who know him in politics and business attest to his good character, self-discipline, competence and fair-mindedness. I want to congratulate Alhaji Atiku Abubakar for choosing wisely and I want to disagree with those who argue that the presidential candidate of the PDP should have chosen his running mate from the South-Western part of the country.

The choice of a running mate of Igbo extraction is a politically deft move. The last time Igbos held the number two position in a civilian government was way back in the Second Republic (1979-83). Since the return to civilian rule in 1999, they have either been Senate president or heads of key agencies (under President Obasanjo) or deputy Senate president and generally junior operatives (under President Buhari) or held critical ministerial positions or headship of agencies and departments – indeed the entire economic sector (under President Jonathan). But Ndigbo’s main interest is the big job: the presidency of Nigeria. The choice of Peter Obi and his likely emergence as vice president of Nigeria brings Igbos much closer to consideration for presidency either in 2023 or 2027. For a people who believe that they have been short-changed by other Nigerians and that the civil war has not actually ended, the possibility of one of their own returning to the presidency, 35 years after Ekwueme, is bound to promote a sense of belonging. By choosing an Igbo man, Atiku is also exploiting prevailing sentiments in Igboland. The average Igbo, either in the South-East or in diaspora, is certainly not impressed by the Buhari administration.

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The circumstances of Operation Crocodile Tears and the crushing of the rebellion of the Indigenous Peoples of Biafra (IPOB) movement, pitched the Igbos against Buhari. Atiku is seeking to bring them back into the fold. Call it opportunism, but that is politics. A Yoruba running mate would have looked like the Buhari template. Atiku also probably knows that the Yoruba in the South-West do not always vote as a bloc and that the South-West is far more divided today than ever. The electoral value of the Yoruba man, Professor Yemi Osinbajo, who is Buhari’s running mate for now, except he changes him, lies more in his being part of a political group in the South-West, and right now, even that group is divided; it has lost part of its grip, and its leader is fighting many political battles of his own. An Igbo running mate can guarantee bloc Igbo voting, in Igboland and from Igbos who are all over Nigeria. The votes may not necessarily be for Peter Obi as a person but for the Igbo nationalistic interest.

…it can be taken for granted that the South-South, still angry over how the Buhari government has treated President Goodluck Jonathan and others from that region, will also naturally vote en masse against Buhari. Technically, Atiku may have locked down the South-South and the South-East and can be sure of substantial votes from the South-West where his promise of restructuring…

I say this because I have heard some people say Peter Obi may not even be able to deliver Anambra. I say to such persons that even the incumbent governor of Anambra, Willie Obiano of the All Progressives Grand Alliance (APGA), who has issues with Peter Obi, or David Umahi, Ebonyi governor (PDP) and chairman of the South East Governors Forum, would dread being found out to be working against the possibility of an Igbo man emerging again as vice president of Nigeria. In terms of political strategy, it can be taken for granted that the South-South, still angry over how the Buhari government has treated President Goodluck Jonathan and others from that region, will also naturally vote en masse against Buhari. Technically, Atiku may have locked down the South-South and the South-East and can be sure of substantial votes from the South-West where his promise of restructuring resonates well with the socio-cultural and political elite.

But why Peter Obi? Obi, governor of Anambra State for eight years, survivor of election battles, has proven himself to be an astute politician and leader. As governor, he blocked the leaky buckets. He reduced wastages and leakages. He led by example. He served the people. He left a healthy balance behind in the treasury. He was known across the South-East as Peter the Rock or Okwute, and he more than any other former governor has spent his time out of office, to prepare himself for a bigger role in Nigeria. He didn’t disappear from the radar. He didn’t take the option of going to the Senate, which has become a retirement home for former governors who go there to sleep and snore during plenary and collect heavy retirement benefits for saying nothing.

Peter Obi returned to school. He chose the lecture circuit where he shared his experience as governor with Nigerians, mostly young Nigerians. He was always on point: He preached good governance, prudence, accountability and gave personal examples. He granted the media access to him and he granted interviews as frequently as he could. He became an analyst and something slightly close to being a public intellectual. He built a public persona as someone who understands business, politics, the economy and governance. He attended international programmes and built a network of contacts. He was my course mate at the Said Business School, University of Oxford and I can attest that he can hold his own confidently in the company of persons of extreme intelligence and superb skills. Above all, he is humble and approachable. He can fit into a team. He is young. He is also rich, but I hear he does not like to spend money! He is a strong member of the Catholic faith, and he bears the name Peter. From what we know about him, his Peter will not deny Atiku whenever the cock crows. He has recognition, respect and relevance.

So, there you have it: the Atiku-Obi Presidential team of the Peoples Democratic Party. Good to go. But how will Atiku handle the North, his own political zone? That is the other question for analysis to be addressed shorPremium Timestly.

Reuben Abati, a former presidential spokesperson, writes from Lagos.

Credit:Premium Times

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Nigerians Should Support Tinubu’s Reforms For A Better Future

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By Niyi Akinsinju

To understand the nation’s current economic milieu, we have to go back to June 15, 2016. Nigeria’s central bank, on that day, announced it would abandon its currency’s dollar peg in preference for a free float of the Naira in an effort to alleviate the chronic foreign currency shortages choking growth in Africa’s biggest economy.



Under one week after the announcement, the Naira slumped from the pegged rate of N197/$ to N287/$. Three months down the road, in August 2016, the rate had fallen by an aggregate 61 percent to the dollar.



Expectedly, there was bedlam in the economic space with the din of the attendant noise becoming aggravated when Nestle Nigeria Plc, a multinational company renowned for its consistent profit outturn published its year end result with a depressing 94 percent drop in profits, a phenomenon blamed on the currency depreciation. The depreciation also led to Nigeria losing its title as Africa’s largest economy — a symbolic downgrade that succinctly summarized the many challenges facing the country at that time.



For many followers of the national economy in that year and beyond, current happenings in the Nigerian economy are akin to walking through the same historical corridors. Indeed, Nigerians had walked this path before and had experienced the same seeming awry economic assaults on their very existence as a people. The immediate reflex associated with such scenario was to capitulate. And capitulate, the country did.



Less than six months after the CBN’s free float policy adoption, inflation rates were skyrocketing in reflection of the vastly depreciated Naira. The CBN could not take the heat any longer. It dramatically announced a reversal to a currency pegged regime and a managed float of the Naira at the same time. The country went back to its tradition of multi-tiers foreign exchange market. By May 2017, the country had five different forex rates. The interbank rate closed at N305.72/$ in second quarter 2017, the rate for government official transactions was N306/$, at the Investors and Exporters window, it was N360/$, and N366/$ at the parallel market.



This reversal to multiple exchange rate regime was accompanied with a capital control policy, the CBN restricted 43 items from accessing the official foreign exchange market.



Interestingly, the then CBN Governor, Mr Godwin Emefiele, became an advocate of managed float and insisted that adopting a free float exchange rate for the Naira is both elitist and wrong. We consider this a volte-face away from his earlier avowal on the adoption of a free float market-determined forex rate policy.



Mr Emefiele added that if the Naira was allowed to float, the poor and low income earners will suffer more in form of high inflation. That was an understandable sentiment given the large percentage of the population of extremely poor. However, it was not the solution nor the trigger for prosperity the country direly needed.



With that Emefiele declaration, the attempt to float the Naira was officially jettisoned by the CBN. For us, that was adopting populism, over economic reality.



Seven years after embracing that option, the cost to the economy became obvious. The exchange rate to the dollar depreciated by more than a 100 percent from N197/$ in June 2016 to N463/$ in June 2023 when the CBN reverted to a free float again. In the intervening years, more than $30 billion had been injected in the Forex market to defend the Naira. Despite splurging that sum in the Forex market, inflation rate continued to increase, peaking at 22.41 percent in May 2023 from 15.6 percent in May, 2016. The foreign reserve was depleted to about $30 billion leaving the CBN with less fire power to defend the Naira. The country had merely survived not developed, it was a clear scenario of stagnation.



In truth, the Nigerian economy had been buffeted from different sides by many domestic and global assailing factors between 2016 and 2020 which may provide an understanding of the Federal Government and CBN’s

insistence on state controlled and managed economy for the benefits of the poor and vulnerable. Yet, after many years of the control and managed options, we are left with an economy in stagnation; one that depends on the periodic boom in the oil and gas sector to deliver momentary economic prosperity.



By 2023, an economic template change had become inevitable. In our consideration, we believe that the Tinubu administration read the situation well by making overtures to the CBN to revert to the free float exchange policy. Of course, the economy, like in 2016 has since responded to the policy with a volatility that is not only immediate but intense with macroeconomic rates flaring up disconcertingly. This had led to high cost of living uproar across different segments of the nation.



But rather than beat a retreat and embrace the populist option, the President has determinedly decided to walk the hard, lonely route of application of unpopular yet result oriented policy, by insisting on sustaining and driving the national economy on the wings of the already introduced policies, chief of which are the fuel subsidy removal and unification of Forex rates.



President Tinubu reinforced his commitment to going the whole hog with the implementation of these policies when he publicly declared during his visit to Qatar that: “This economy, we will grow it, and we will feed ourselves out of penury…if it’s corruption, we must exterminate it no matter how hard it is fighting back.”



We find this declaration instructive. It affirms the President’s unwavering commitment to seeing through the reforms he has undertaken to implement.



We also agree with the President’s call on Nigerians to persevere at this time because, according to him, nation-building requires perseverance and patriotism to succeed. It is to these two value orientations that we call the attention of Nigerians.



This country, by all possible evaluation metrics, is an economic giant waiting to take its position in the sun but it has remained stunted over the years because of policy misapplications, especially of such that emphasise today’s existence in opposition to creating wealth premised on delayed gratification.



In this regards, we reference the robust optimism expressed by South African billionaire and Chairman of South Africa global grocer brand, Shoprite, Christo Wiese, who recently said that Nigeria’s large and growing population is impossible for businesses to ignore and that the recent exodus of companies from the country won’t last. It is exhilarating to note that this sanguine description of the Nigerian economic state is coming from a foreigner who sat over a huge business concern that operates out of states across Nigeria. He definitely speaks from the point of knowledge and experience.



For him, Nigeria with over 200 million people, is the economic giant of Africa. This sizable consumer base presents an attractive investment hub for businesses and investors seeking opportunities in the region.



While no rational investor can ignore Nigeria, yet, economic makeovers such as the removal of fuel subsidy and floating of the naira aimed at revitalizing the economy, have yet to yield positive results.



Nonetheless, we have observed the peculiar Nigerian spirit of adaptation in the face of challenges and vicissitudes at work as exchange rates become prohibitive and inflation rates continue to increase. Nigerian startups, for example, are beginning to explore local options for some of the foreign-denominated services their operations require.



This is in response to the rising cost of these services in naira terms. The depreciating currency has increased the cost burden on startups that rely on foreign cloud services such as Amazon Web Service, Microsoft Azure, and more. $1000 for cloud services that would have cost N471,000 in early 2023 is now about N1.57 million, a 233.61 percent cost increase.



Services like Slack, Google Workspace, and others that are crucial for internal communications and operations of startups have also recorded a significant rise in naira costs. Now, Nigerian digital space entrepreneurs have de-dollarised to adjust to the current reality and have started switching hosting services, using internal IPs, and optimising its overall resource use. By our latest calculations, some have achieved a reduction of annual technology infrastructure operating costs by up to 69 percent.



At the end of the day, the committed, the creative and the passionate will make a way through the labyrinth of challenges to exploit the opportunity so availed by the policies.



It is in acknowledgement of this that we also review the latest quantity of Premium Motor Spirit (petrol) importation figure which the Minister of Information and National Orientation, Mohammed Idris, says has reduced by 50 percent. That is to place the quantity imported in the region 31 million and 33 million litres. This, essentially, talks to freeing up funds that would have been tied up in importing about 66 million litres of PMS and channeling it into more productive use.



As one of the nation’s global entrepreneurs put it, while pessimism abounds, it is crucial to keep our eyes on the bright spots in Nigeria’s economy. We write off and ignore the country at our own peril; it could very well become a 22nd century superpower.



This should be the big picture for every forward looking Nigerian. Our fate should not be about existing from one day to the other; it should be about accepting the generational responsibility of standing in the gap for future generations. To sacrifice our today to change the economic trend of our country where rather than have millions numbered in poverty, we will have millions counted in wealth.



It is to this end we declare that we are unpretentious about our support and advocacy for the policies being advanced by the Tinubu’s administration targeted at enabling a market-driven economy. This is where we believe the fortunes of this great country can and would be unlocked.





Akinsinju is the Chairman,

Independent Media and Policy Initiative (IMPI)

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2023: Stop Impersonating Us, CAN Warns Politicians

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The Christian Association of Nigeria (CAN) has dissociated itself from the unveiling of the vice presidential candidate of the All Progressives Congress (APC), Senator Kashim Shettima, saying those who were presented as church leaders are ‘unknown clerics’.

CAN’s General Secretary, Barrister Joseph Bade Daramola, gave the warning on Thursday in Abuja.

He expressed shock and disappointed about the desperation of some politicians who once “claimed Christians do not matter in governance and politics who went to hire some unknown bishops, pastors and priests to impersonate the leadership of CAN in their political meeting”.

“This is totally unacceptable, reprehensible, unprecedented and ungodly. If they are saying Christians have no electoral values why impersonating them in their meetings?”

“We are throwing their principals and sponsors into the court of conscience. These actions of theirs have shown who they are to the public and what they are capable of doing to us all.

“We are asking political parties not to ignore religious sensibilities and sensibilities of the people especially in today’s Nigeria when Christians are becoming endangered species daily. Our quest is within the constitutional requirements and ignoring it is akin to trampling on the Constitution especially the Federal Character Act,” Daramola said.

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NCC To Auction 5G Spectrum 13th December, Sets Conditions

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The Nigerian Communications Commission (NCC) has said all is set for the official auctioning of the 3.5 Gigahertz (3.5 GHz) spectrum for the deployment of Fifth Generation (5G) technology in Nigeria on December 13, 2021.

A statement signed by the commission’s Director of Public Affairs, Dr. Ikechukwu Adinde, said it is adopting Ascending Clock Auction format, which is software-based, while a mock auction has been slated for December 10, 2021, as a precursor to the actual auction on December 13, 2021.

According to the statement, the Information Memorandum (IM) recently presented to the Commission at a stakeholder engagement forum provides information, conditions, obligations, financial implication, timelines and other necessary details on the planned 3.5Ghz spectrum auction.

‘‘The IM also explains the rollout obligations of the would-be eventual winners of the spectrum licence auction, whose reserved price has been pegged at $197.4 million (N75 billion),” the statement said.

‘‘The IM also states that only licensees, who make down payment of 10 per cent of the reserved bid price and with 100 per cent regulatory compliance would be allowed to participate in the auction while licensees with outstanding debts that have secured NCC’s approval for a payment plan will be allowed to participate in the auction.’’

The auction comes with a 10-year spectrum licence and a minimum requirement of an operational Universal Access Service Licence (UASL), but new entrants or licensees without a UASL will be required to obtain a UASL operational license to be qualified for the 5G licence.

The eventual licensees will have a rollout obligation plan spanning a period of 10 years, beginning from the date of award of the licence. Between the first and second year of the licence, the operators are expected to rollout service in, at least, one state in each geo-political zone.

From the third to fifth year, they are obligated to cover all the zones. Between six to 10 years, they should cover all the states in the country, according to guidelines set out in the IM.

Speaking on the planned roll out, Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami, said the Ministry has been working closely with the Commission to ensure that necessary spectrum resources needed for the deployment of 5G network in Nigeria to accelerate the nation’s digital economy space is made available.

The Minister said the 3.5GHz is the most popular spectrum band used globally by regulators and operators for the deployment of 5G technology, and it seems the only band available in Nigeria for immediate use by operators.

On his part, he Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, listed the various steps diligently taken by the Commission that culminated in present status of the 5G deployment plan.

He also highlighted the potential benefits from investment in 5G deployment to potential operators and investors in the country.

According to him, “Nigeria has an estimated population of 214 million, with an average growth rate of 2.6% annually. Approximately 76.46 per cent of the population is under the age of 35. In line with these demographic changes, internet penetration grew from 3 per cent in 2004 to 73.82 per cent as at September, 2021, and broadband penetration increased from less than 10 per cent in 2015 to 40.01 per cent in September, 2021.”

With the increase in mobile usage brought about by Fourth Generation (4G) technology and network performance, he said that 5G technology will leverage on this momentum, bringing substantial network improvements, including higher connection speed, mobility and capacity, as well as low-latency capabilities.

Meanwhile, the Association of Licensed Telecoms Operators of Nigeria (ALTON), among others, called on the government to continue to make the operating environment more conducive for the existing and prospective licensees in the telecom ecosystem, in order to enable Nigeria to fully harness and harvest the derivable benefits of mobile technology in the country.

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