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Its Night Thoughts today again with your amiable friend, Dayo Oderinu. Let's take this ride together tonight and reason together!
Two days ago, President Muhammadu Buhari became five months old as President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria. These five months being crucial takeoff periods is undoubtedly a time that should have been utilized for setting clear roadmaps for governance, formulating and making known key government policies that will shape the actions of this government for the remainder of its four years.
The most important question is, do we have any roadmap so far? Because he just clocked five months, I will examine his government using five key issues that affect our collective future. These are areas where I believe he has completely lacked knowledge.
1. WHY SHOULD WE KEEP DEFENDING THE NAIRA WITH OUR FOREIGN RESERVE?
I like to simplify complex government statements such that a layman can easily understand how these big vocabularies affect his life.
In recent times, the CBN has been defending the value of the Naira with our Foreign Reserves. What does this mean?
It is a known fact that crude oil remains the largest foreign exchange earner for Nigeria. Nigeria import activities on the other hand relies on the nation's foreign exchange to transact business. What this simply means is, the value of the dollars available to importers to transact their business is a function of how much forex the nation earns per time. Because the Nigerian system is such that encourages import at the expense of local production, that import forex requirement is quite huge.
In the days when crude sold competitively in the market, importers had access to huge foreign exchange as the country was earning wonderful figures in this regard. Then prices of crude crashed and the crisis began. Two things became evident in the face of the crisis that followed: it became difficult for importers to access foreign exchange, as little was coming in, so the forces of demand and supply settled in, and the dollar began selling at outrageous rates. The second thing that became evident is, Nigeria no longer earns enough from crude sales to fund its import requirements.
Instead of allowing marketplace determine the value of the Naira however, Baba's administration in his bid to force up the value of the naira, due to his uninformed campaign promises, is allowing the CBN to continue defending the naira with our foreign reserve.
The problem with this arrangement is, the FG through the CBN will keep depleting the Reserve towards defending the naira; unfortunately, if crude oil prices do not go up soon, we might end up emptying the reserve and the problem will still be left unsolved.
The common sense solution was, discourage importation as much as possible, stimulate local production at all cost and drastically reduce the nation's requirement for the dollar. But pending that time, allow the market forces dictate the value of the naira. Yes, commodity prices will go up, but it will soon spread around and once local production is promoted, the temporal hardships will disappear.
That was why I asked the question, why did Col. Hamid Ali (Rtd) lift the ban on rice importation? The answer that I got from pro-Buhari politicians was that the nation was losing much to smugglers, so it became better to lift the ban and receive appropriate duty payments. This argument is deficient. Even in the US, consumer products are daily smuggled from Mexico into the US....I am saying every nation loses a sizeable amount to smugglers in duty payments. Which risk was costlier? Attempting to increase duty collectibles or the fact that forex requirements will skyrocket in the process of legalizing rice import? I prefer we make our borders as secure as possible and continue to disallow the importation of rice so we can encourage local production.
Baba Buhari has ignorantly been pursuing a monetary policy that does not in any way contribute to the long term value of the naira and yet is draining our foreign reserves. He has not performed at all in this regard!
4. WILL BOKO HARAM TRULY END IN DECEMBER? AND WHERE ARE THE CHIBOK GIRLS?
It is saddening to note that in the last five months of President Buhari's administration, the mindless killings going on in the North East seem to have taken an even more worrisome dimension. People are now being killed like lizards.
What is baffling about the whole scenario is, Buhari boasted before the elections that Boko Haram would become history before he clocks one month on the seat. He won public sympathy with his many talks about Jonathan's incapacitation to end Boko Haram and his bad disposition towards the rescue of the Chibok Girls.
Today however, we are seeing more killings, the army is saying they do not even know the location of the girls again while Baba has continued feeding us with December deadline. Is this still possible? Why are we not seeing Madam Ezekwesili and her followers run campaigns for the chibok girls as they did in Jonathan's time? Do we assume that the Chibok drama was a fraud after all?
The big assertion here is, from all reports and indications, Baba has done no better than GEJ in the fight against insurgency. All we have right now, is the same worrisome situation still pending in our society.
5. WILL WE DRIVE ON ANTI-CORRUPTION?
So far, a number of projects that were already ongoing before GEJ left office have been abandoned.
Of notable importance is the Lagos-Ibadan expressway that was supposed to ease the vehicular movements that has long become worrisome on this route. The big question here is, if projects are being suspended because Baba is busy fighting corruption, shall we then drive on anti-corruption highway now?
The fight against corruption is commendable if sincere, but while we fight corruption, we must as well allow for the full functionality of government institutions.
We do not necessarily have to cripple the system because we must catch thieves!
I ask that we all join hands and pray for Buhari though, for in the success of his administration lies also peace and prosperity for us, lest we have a failed government at the end of these four years!
Have a blissful night!
On today's session of night thoughts, we will attempt to answer together, a fundamental question that begs answers if our democracy will ever grow.
What is the will of the people (electorates)?
On April 11, 2015, I witnessed all manner of despicable undemocratic practices at the various polling units that I was privileged to visit. The memory of that fateful day, coupled with recent happenings at the tribunals, has prompted me to ask this very important question. What is the will of the people? Is it a PDP-led government? Or APC-led? Or LP-led? Or what?
In one of the polling units I visited, I witnessed firsthand the attempt by one sycophant to intimidate members of an opposition party. He had a field day shooting sporadically in the air, while the police officers looked without concern. As the opponents mobilized to retaliate, the police began their own round of shooting and this festival of gunshots went on for almost two hours. In this scenario, the police obviously helped the troublemaker to oppress his opponents. This troublemaker was APC, the opponents were AP.
The night before the elections however, I witnessed the attempt by one of the political parties to rubbish one electoral officer based on devilish accusations. She was manhandled, embarrassed and handed over to the police for an offence she did not commit. Her release took the combined efforts of members of another party. The liars in this case were AP while the rescuers were APC.
On the day of the election again, I witnessed the unruly behaviour of one party agent. He was so unlawful that he attempted to confiscate the card reader from the APO II for his unit. His reason was, the officials refused to show him the card reader after every scan. It took the combined efforts of several elders to calm the situation. The troublemaker in this case was LP while the peacemakers were APC and PDP.
In another polling unit, I witnessed the trouble-ready disposition of one of the party agents. He was so badly mannered that he picked fights with every person whose opinion differed from his at the unit. We were able to control his troubles eventually though. He was PDP.
The irony of this illustration is, all of the parties involved acted illegally at one point or the other. Their actions were tailored at every instance, towards intimidating voters and creating undue advantages for their parties. Yet, these same parties will go on air today and claim to be fighting for the mandate of the people. Which mandate?
During the Presidential elections, Prof Attahiru Jega did the unexpected. Around midday, he instructed that all poll officials revert to manual verification of voters since the card readers were malfunctioning in many places. Factually speaking, this instruction gave the APC undue advantage in a State like Kano and the PDP undue advantage in a State like Rivers. Both parties exploited the situation and committed grave electoral offences. These actions were repeated in the Gubernatorial election.
You ask me, why are all these facts necessary? To answer two other important questions I'll tell you.
1. As majority of the judgement delivered at the tribunals have favored APC so far, majority of their supporters have been describing the situation as 'victory for democracy', 'victory for the rule of law' and in some cases, 'victory for the will of the people'. Do we call it true victory for the rule of law or political manipulations?
2. Most politicians of PDP extraction are claiming the APC has been victimizing their party at the tribunals thereby jeopardizing the free will of the people. Do we call it jeopardizing free will of the people or we call it survival of the fittest?
Clear instances have seen all of the political parties involved in electoral malpractices. We can therefore not adjudge any of them to be running on the free will of the Nigerian people. They all hijacked the will of the people at locations where they were stronger than their opposition. Would that still qualify as the people's will?
If the will of the people is being hijacked at the polls, it means the will of the people is still unknown. This is not good enough for our democracy.
What this should also mean to any right-thinking Nigerian is, we must brag moderately about the acceptability of any of these political parties. They all are hijackers of political will!
What then, is the will of the people?
Sleep good!