issues, Naija, Politics

Nigeria’s Economic Reforms. Staying the Course.

Nigeria’s President Bola Tinubu looks on after his swearing-in ceremony in Abuja, Nigeria May 29, 2023. REUTERS/Temilade Adelaja/File

I support the economic reforms being pursued by President Bola Tinubu’s administration. Several of the decisions taken over the past three years, alongside key appointments at the Central Bank of Nigeria and the Ministry of Finance, have reinforced my belief that there is finally a serious intention to confront problems Nigeria has carried for far too long. I expect a backlash from my friends for writing this, but let me discuss my position in a scattershot of thoughts.

I want this government to succeed. I want Nigeria to become a country where ordinary citizens can build something worthwhile and have a reasonable chance of seeing it prosper. Like many Nigerians, I am exhausted by endless talk of our “potential” while the structural conditions required to realise it remain untouched.

The hardship Nigerians are enduring today is acute and undeniable. Food prices, transport fares, and basic household expenses have pushed millions of families to their limits. People have every right to question the government, voice their frustration, and demand relief. But an honest public debate cannot begin and end with our pain. It must also confront the paraplegic economy we have been operating and reckon with the catastrophic cost of continuing the arrangements that existed before.

As another election approaches, the familiar call for a policy reversal, or an easy political reset, is gaining momentum. To surrender to that impulse would be to repeat Nigeria’s most damaging historical habit of initiating painful, overdue reforms, panicking at the first political resistance, and restarting from an even weaker baseline years later.

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Education, issues, Naija, Personal Development, Politics, University

Why Nigeria’s Workforce Debate Is Stuck at the Wrong Altitude

For two weeks, Nigerian commentators have argued over whether Tosin Eniolorunda is right that Moniepoint MFB cannot find 500 qualified Nigerians to fill its vacancies. I have read several commentaries, opinions, and research outputs. Each is responding to something real. But for me, the debate is being argued at the wrong altitude. The real question is not “where is the talent?” The real question is: what is the talent supposed to be for?

When a country commits to a long-term economic and industrial strategy, its education system must become the mechanism for delivering the necessary human capital. The curriculum, the skills pipeline, and the financing for training should not operate in a vacuum. They should be intentionally reverse-engineered from the ultimate goals of the national vision. That is how graduates are prepared for the future economy the country intends to build, making the education system fundamentally downstream of national vision. Three cases make the principle visible.

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issues, Naija, Politics

Reforming Nigeria’s Asset Privatization Approach

I came across a post on X recently that sent me back to the troubled history of Nigeria’s privatization programme.

It reminded me of the 2003 NITEL-Pentascope scandal. NITEL, Nigeria’s state-owned telecommunications company, was not just another public enterprise. It was responsible for critical national infrastructure, including Nigeria’s access to the SAT-3 undersea cable, a major artery for international connectivity.

Yet NITEL was handed over to Pentascope, a Dutch firm that was barely a year old, reportedly had only eight employees, including the janitor, and had no serious experience managing a major telecommunications company.

Within a year, NITEL moved from a ₦15 billion profit to a ₦19 billion loss. More than 250,000 homes reportedly lost their phone lines. It was not a complex failure. It was a failure hiding in plain sight.

For me, Pentascope is not just a bad chapter in our telecoms history. It is the perfect lens through which to examine many of Nigeria’s privatization heartbreaks: ALSCON, Ajaokuta, Delta Steel, and the 2013 power sector unbundling.

In that same X thread, someone argued that Nigerians should simply “move on” from these failures. It reads like an innocuous statement from a frustrated citizen, but never a good idea. Moving on without understanding what went wrong is not closure. It is willfully inflicted amnesia, acting mature. Nations that forget their policy failures do not heal from them. They repeat them, and usually at a higher cost.

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