Tag Archives: Transparency

issues

Nigeria’s Oil Sector: Tinubu’s Opportunity

In the intricate dance of leadership and governance, timing and ethics are paramount. I do hope President Bola Tinubu understands this. When we fail to do what is right and at the right time, we often find ourselves ensnared in a web of unnecessary efforts to resolve the consequences. This truth is painfully evident in the Nigerian oil sector, where malfeasance and unrestrained interests against the common good have led to a credibility crisis. This photo-op simply reveals more about curbing interests than bringing solutions.

The Nigerian oil sector once heralded as the backbone of the nation’s economy, is now a cautionary tale of missed opportunities and ethical lapses. The principal characters in this sector have, for too long, prioritized personal gain over national interest. This has not only stunted the sector’s growth but also eroded public trust.

When leadership fails to address corruption and self-serving interests, it sends a clear message: that the pursuit of personal gain is acceptable, even at the expense of the nation’s welfare. This unchecked behavior breeds inefficiency, and in the end, discourages investment as we are currently experiencing. The ultimate decline in the sector’s performance is nothing that could not have been easily predicted 25 years ago. Continue reading →

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issues

THE VEXATIOUS BUDGET OF NIGERIA’S NATIONAL ASSEMBLY

Good day folks.

I have seen a few online petitions going around lately and one has caught my attention. The petition requesting the National Assembly (NASS) to open its book regarding the perennial N150 Billion (Approx. $600 Million) budget is a feel good one, but really doesn’t open up the matter. It’s okay to sign the petition, but more informative to understand the issues.

Let’s remember that the cold war between the Presidency and the NASS started in 2011, when President Jonathan refused to approve the NASS budget that was increased from N112.24 billion to N232.74 Billion (over 100% increase). The President had proposed N120 Billion, but eventually both parties agreed to settled for N150 Billion, which has remained the yearly budget till 2014 (Their budget was slashed in 2015 to N115 Billion). From that point on, the NASS practically stood in the way of the Executive over several issues, for which Nigerians paid the ultimate price. Can you imagine that if left unchecked, the NASS would have been blowing over N200 Billion on themselves????

Prior to 2011, there was some level of budget breakdown for the monies allocated to the NASS. We could tell what went to the Senate, House of Representatives, NASS Service Commission, etc. For the past 4 years however, no one has been able to breakdown this budget of N150 Billion despite the various demands by pressmen relying on the Freedom of Information Act.
Continue reading →

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