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Home Blog Page 5390

Nigerians And The Awaited 2023 Polls

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The last time I checked, Nigerians in their entirety could not wait to embrace the 2023 general elections which are already by the corner. Before now, they waited patiently to witness this epochal moment.

As Nigerians in their number are basked in the ecstasy that accompanies the long awaited national ritual, before they eventually embrace the D-day, there are prime inevitable factors that mustn’t be swept under the carpet by the key actors of the impending exercise.

In any political clime across the globe, the major actors remain the political parties, electoral umpire and the electorate, hence that of Nigeria wouldn’t be exceptional. These three groups are mainly the reason for this piece, though the stance of the security outfits cannot be possibly overlooked.

It’s noteworthy that, according to record available to the Independent National Electoral Commission (INEC), countless registered political parties would be participating in the elections come 2023, and each of these platforms is entitles to contestants.

These parties alongside their respective flag-bearers need to take into cognizance that their activities before, during and after the polls will go a long way in communicating to the electorate what they are really made up of and their real intentions.

The various parties are the main players in the pitch, hence the way and manner they play the ball as well as dribble their rivals would determine the amount of followers to be attracted to them. It suffices to enthuse that if they refused to play well or reasonably, they are liable to lose millions of fans among the spectators.

On the ballot papers meant for the contest, what is legibly written are the names/acronyms of the various political parties vying for the available positions, not the names of the recognized contestants. Thus, political wise, the electorate cast their respective votes in support of the parties as disclosed on the ballot papers, not the politicians or flag-bearers.

Acknowledging the above indisputable fact, each of the parties are expected to conduct itself in a manner where people would see it as the most suitable party for the posts being contested for. It’s noteworthy that the way they dress would surely determine how the viewers would address them.

It is primarily the duty of the parties to market or advertise the aspirants in a mature pattern, to enable them attract large and good number of prospective buyers to their shops. If the shops or products are not looking attractive and sound, no reasonable buyer will walk up to them or be moved by the wares let alone making a purchase. There are no two ways about it.

On their part, the electorate must be mindful of the product they intend to purchase. They must note that “all that glitters is not gold”. That a certain shop or ware is very attractive doesn’t actually mean the content is good or sound enough for consumption. This implies that the electorate must not only be watchful, but equally careful and cautious.

As the parties go about marketing their various flag-bearers, the electorate need to be prepared to get very close to the aspirants with a view to assessing them thoroughly and carefully towards ascertaining the qualities they truly possess.

So, don’t be deceived. And, in order not to be carried away by deceit, you need to know what you really want or desire. One who doesn’t know what he/she actually desires would be easily cajoled into purchasing the wrong product or brand. You must, therefore, discover your desire and stick to it.

Inter alia, the electorate are also urged to realize their needs. There is a great dichotomy between want and need. What a certain set of people want might only quench their personal/individual thirsts, but their need will surely satisfy the urge of the entire constituency, state, or country, as the case may be. Hence, one’s need supersedes his/her want. You are by this exegesis enjoined to go only for your needs at all cost.

The electoral umpire, the INEC, is not left out. You are the referee in this pitch, thus shouldn’t be reminded that all eyes are on you. You are, therefore, required to settle any score without sentiments. Your neutrality must not be compromised or in doubt. You must remain neutral, impartial and strict, no matter whose ox is gored.

Do not mortgage the future of our constituencies, states, or country for a mere pot of porridge yam. Posterity will undoubtedly judge you if you walk on the wrong path, and sooner and later, you would be disgraced in the public sphere. Be duly notified that no one will ever escape from the Law of Karma. It’s a law that has come to stay, hence absolutely nothing will truncate its existence.

Like I hinted earlier, the security outfits are equally part of this ritual. You have been contracted by the Nigerian people to ensure absolute calmness and peace as long as the exercise lasts, thus the citizenry aren’t expecting any excuses from you irrespective of the circumstance. If you ceased to be patriotic in carrying out the consignment, then you aren’t good or needed for the job.

Before we embrace the long awaited polls, we mustn’t be reminded that Nigeria as a country doesn’t need second best, but second to none.

The use of Army colors (camouflage) by civilians in Nigeria; the illegality or otherwise. 

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It is an everyday occurrence that the men of the military take it as a serious affront when they find a civilian using the army green colour, a colour that is said to have been specifically reserved for them and they don’t hesitate to make sure that the person meets his waterloo. The military go as far as beating, harassing, intimidating and melting all kinds of punishment on the unfortunate civilian they catch “flying” their colour or using the camouflage. 

In Nigeria, the army green is the colour that is claimed to have been specifically reserved for the military men and it is hence regarded as the army colour and any civilian found using or wearing that colour within the territory of Nigeria is an usurper who is looking for troubles.

The everyday news of the men of the armed forces manhandling any civilian they caught using the army green color which is regarded as their colour has made people question the rationale and the legality behind this act. Citizens have asked lawyers and those knowledgeable of the law, if there’s a law to that effect that specifically prohibits any person other than the military men using the army green color, or any law specifically reserving that colour for the military men within the confines of Nigeria or the military men are just taking laws into their hands by restricting people from using the color green just like secret cult groups that restrict individuals who are not members of that secret cult from “flying” their colours which they chose and reserve for themselves alone.

Yes!, there’s a law in Nigeria that reserved the colour of army green for the men or armed forces alone and thereby prohibiting the use of such colour by civilians.

The Army Colour (Prohibition of Use) Act is the extant law in Nigeria which is still in force up till this very moment that prohibits civilians from using the colour of army green as that colour has been reserved specifically for the use of the men of the armed forces.

S.1 of the act (The army colour prohibition of use act) clearly prohibits civilians or anybody who is not a member of the armed forces to drive or be incharge of any vehicle that is painted with the colour of green unless such vehicle belongs to the Nigerian army or its members. This act subsequently provides for punishments in s.2 of this act for any civilians who are caught driving or using a vehicle painted with the army green. The punishment is that the offender will be jailed for six months or more or made to pay a fine.

Therefore, even if the army green colour is your favorite colour, when you are using it as a civilian you are a law breaker and even if you are not caught you are still a law breaker.

Be it as it may, no law empowers the men of the armed forces to harass, beat up, frog-jump or intimidate any civilian they caught using the army colour. The due process of the law is to  be followed in prosecuting such offender which is arrest and trial and then conviction of the offender if found guilty.

Tanzanian Marketplace Rivals, ZoomTanzania and Kupatana, Merge As Market Competition Intensifies

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In a surprising move, two Tanzanian rival companies have decided to put their competition differences aside and team up to win more market shares. Classified platforms, ZoomTanzania and Kupatana, announced that they are merging to form a new online marketplace.

The two companies are among leading marketplaces in Tanzania. The decision means that their marketplaces will henceforth become one in aim to boost growth as competition grows intense in the market.

The Tanzanian marketplace is made up of competitors such as Kaymu, kivuko, jumia, inazuwa and shopping, who are each fighting for the market’s soul.  ZoomTanzania and Kupatana believe the merger will give them a competitive edge over the rest.

ZoomTanzania is owned by Roam while Kupatana is backed by Frontier Digital Ventures.

Afrieuro Digital Ventures, a Tanzanian private limited company, obtained the exclusive rights to market and operate the two classified sites last year.

“This is an amazing opportunity for us, but particularly for the Tanzanian internet users since we will be able to further develop the already strong online marketplace presence and provide even more sales opportunities and a better user experience across all categories,” Makusaro Tesha, General Manager of Afrieuro Digital Ventures said.

Under the merger deal, Kupatana.com will be kept as the brand name in the future but for now both websites will be kept as they are. This is due to the high brand awareness rate in Tanzania and mobile adoption of users. In the beginning of next year the plan is to launch a new website that will merge both brands.

“From a technical standpoint, the new platform will be a new version that will combine the best of the two platforms, but also bring new and exciting features so that we can provide a safe, fast and user-friendly experience to buy and sell online,” says Makusaro Tesha.

Tanzania, with a population of 60 million people, has an agricultural-based economy, but is working to boost the tourism sector. The East African country’s economy is expected to grow from the current 5% to 8% in the next five years. This means, the second-largest economy in East Africa, will have larger growth potential for its marketplace industry.

Merger has over the years proved effective in helping companies in different industries to stay afloat amidst economic crunch or fierce competition. ZoomTanzania and Kupatana’s merger is likely going to set a precedent in the Tanzanian marketplace industry.

Diaspora Remittances Are Increasing, But Can it Save Nigeria from Its Forex Crisis?

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Naira USD

There has been some improvement in diaspora remittances since 2020, augmenting dollar liquidity in the Nigerian market.

Nigeria, Africa’s largest economy, has been hit with a forex crisis that has seen its currency, the naira, dwindled to N413/$1 in the official Import & Export (I&E) window and over N570/$1 in the parallel market. It has been a long battle for the Central Bank of Nigeria (CBN), pushing to tame the tide that has largely impacted economic growth of the country.

The naira has been repeatedly devalued as the CBN pushes to contain the impact of the accelerating FX crisis. Against this backdrop, economists have kept pointing at poor dollar liquidity as the root cause of the naira’s woes. However, the CBN, besides pointing accusing finger at the wrong places, including cryptocurrency operators and FX rates aggregator-platforms, has announced many policies aimed at saving the naira. A significant one among them is the ‘Naira 4 Dollar Scheme’, which offers recipients of diaspora remittances through CBN’s licensed International Money Transfer Operators (IMTOs), N5 for every $1 received as remittance inflow.

Diaspora remittances have receded greatly since 2015, adding to Nigeria’s plummeted oil revenue compounding the issue of dollar liquidity. Data from the CBN shows $116 billion to be the total dollar inflow to Nigeria’s economy in 2020, which indicates 20% and 30% drop in dollar inflow when compared to 2019’s $142 billion and 2014’s $160 billion respectively.

However, the situation is improving. Recent data from the CBN shows that diaspora remittances rose by 5.1% quarter-on-quarter to $4.28 billion in the first quarter of 2021, from $4.07 billion in the fourth quarter of 2021.

There is optimism that the inflow will increase to more than $18 billion in 2022. The World Bank had, in its ‘Migration and Development Brief 35,’ projected 2.5% increase in Nigeria’s diaspora remittances in 2021. That would see dollar inflow to Nigeria move from $17.2 billion in 2020 to $17.6 billion in 2021. The current trend supports the belief that Nigeria will see more dollar liquidity from diaspora remittances in 2022, as the global economy keeps recovering from the pandemic.

However, amidst the optimism, concern over naira’s stability remains high as the increase in diaspora remittances has yielded little impact – the naira has kept falling. The latest naira devaluation (from N411/$1 to N413/$1) came into play early this year. The naira closed at N416.25/$1 in the official market, appreciating 4.3% from the previous week’s N435/$1. Inflation is currently at 15.40% – all indicating that the problem is far from over.

The central bank had late last year blamed Nigeria’s low dollar liquidity on petrol import. The apex bank said import of petroleum products gulps around 40% of Nigeria’s forex, notably depleting the country’s external reserve which is at $40.49 billion as of Jan 7.

The CBN also fingered excessive borrowing by the Federal Government from the CBN’s Means and Ways Advances window. The financial industry watchdog said it frustrates its monetary policies.

“Yes when the Federal government exceeds its revenue, the CBN finance government deficit through Ways and Means Advances subject (in some cases) to the limits set in the existing regulations, which are sometimes disregarded by the Federal Government.

“The direct consequences of the central bank’s financing of deficits are distortions or surges in the monetary base, leading to an adverse effect on domestic prices and exchange rates i.e macroeconomic instability because of excess liquidity that has been injected into the economy,” the CBN said, answering “Can the Federal Government frustrate the Central Bank of Nigeria from pursuing its monetary policy?” question on its FAQ page.

Despite the blames being thrown around by the CBN, the lasting solution to Nigeria’s forex crisis hinges mainly on, asides exporting enough non-oil products, the mammoth task of cutting the country’s petroleum products import, which will increase Nigeria’s dollar liquidity by more than 30%. But the hope to achieve this lies solely on Dangote Refinery, which is expected to launch in mid-2022.

As Predicted, Ebonyi State Governor Umahi Declares for Nigerian Presidency

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On Oct 1, 2018, I wrote: “By this time in 2022, APC will select Bola Tinubu as the presidential flagbearer of the party for Election 2023. Mr. Tinubu will select a retiring governor from the southeast as his running mate. The main goal is to quench any agitation that 2023 will be the turn for southeast.

“The present governor of Ebonyi state will likely be his running mate. Engr David Umahi will win with PDP in 2019 but will decamp to APC shortly. His “friendship” comment on President Buhari was not a lapse.

“Largely, the best time to decamp as a governor is during the second term as you may not have to face any regional election. Decamping will be very popular because in my model, I expect Buhari to win in 2019 if he continues to show physical energy as he has recently demonstrated.”

The Governor of Ebonyi State, Dave Umahi, has declared for the Presidency. I extended that prediction in Nov 2020 thus: ‘ Engr Umahi will run for the presidency on the APC platform. He will lose. Then Tinubu will select him as his running mate. As I wrote in 2018, “Tinubu/Umahi will be formidable”. And from all indications, APC will move power to the southwest.’

(I will modulate that ticket now because Borno state Governor Zulum seems positioned depending on what the party does. I expect him to get a Vice Presidential slot depending on what happens between Tinubu and Umahi. I consider both the frontrunners in the South)

Please note, when I write, it does not mean that I support or endorse; I am simply making calls based on my understanding of Nigerian politics.  In university, I ran an election and WON. Sure, Nigerian politics is complex. See this as academic for a political junkie!