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Buhari Wasted Opportunity to Boldly Reform Nigeria – Chimamanda

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Chimamanda Ngozie
  • Buhari Wasted Opportunity to Boldly Reform Nigeria

Nigerian author Chimamanda Ngozie Adichie says President Muhammadu Buhari has squandered the massive goodwill and support he had upon his inauguration as President and missed an opportunity to set Nigeria on the right path.

“Mr Buhari ascended to the presidency with a rare advantage — not only did he have the good will of a majority of Nigerians, he elicited a peculiar mix of fear and respect,” she wrote in an opinion for The New York Times, published on Tuesday.

“For the first weeks of his presidency, it was said that civil servants who were often absent from work suddenly appeared every day, on time, and that police officers and customs officials stopped demanding bribes.”

She said although she experienced political fear for the first time, aged seven, under Buhari’s military regime in 1984, she welcomed his election 30 years later in 2015 because “he represented some form of hope”.

“Because for the first time, Nigerians had voted out an incumbent in an election that was largely free and fair,” she said.

“Because Mr Buhari had sold himself as a near-ascetic reformer, as a man so personally above board that he would wipe out Nigeria’s decades-long corruption.”

Although she acknowledged that Nigeria was difficult to govern, she said Buhari wasted an opportunity through his actions – from his appointments to his economic decisions.

“He had an opportunity to make real reforms early on, to boldly reshape Nigeria’s path. He wasted it,” she said.

“Perhaps the first clue was the unusually long time it took him to appoint his ministers. After an ostensible search for the very best, he presented many recycled figures with whom Nigerians were disenchanted.

“But the real test of his presidency came with the continued fall in oil prices, which had begun the year before his inauguration.”

She explained that while the plunge in oil prices was bound to have a catastrophic impact on the economy because it was “unwholesomely dependent on oil”, Buhari’s actions made it even more so.

She cited the policy of defending the naira through which the official exchange rate was kept “artificially low” but caused the exchange rate to balloon on the black market and restriction of access to the central bank’s foreign currency reserves, which “spawned corruption”.

She said while the exchange rate crisis caused the price for everything – rice, bread, cooking oil – rice and forced businesses to fire employees with some folding, “the exclusive few who were able to buy dollars at official rates could sell them on the black market and earn large, riskless profits — transactions that contribute nothing to the economy.”

According to her, although Buhari believed, rightly, that Nigeria needed to produce more of what it consumed, and he wanted to spur local production, local production could not be willed into existence if the supporting infrastructure was absent.

“And banning goods has historically led not to local production but to a thriving shadow market,” she added.

“His intentions, good as they well might be, are rooted in an outdated economic model and an infantile view of Nigerians.

“For him, it seems, patriotism is not a voluntary and flexible thing, with room for dissent, but a martial enterprise: to obey without questioning.”

Adichie also faulted Buhari’s handling of the herdsmen/famers clashes in the country.
She said, “Since Mr. Buhari came to power, villages in the middle-belt and southern regions have been raided, the inhabitants killed, their farmlands sacked. Those attacked believe the Fulani herdsmen want to forcibly take over their lands for cattle grazing.

“It would be unfair to blame Mr. Buhari for these killings, which are in part a result of complex interactions between climate change and land use. But leadership is as much about perception as it is about action, and Mr. Buhari has appeared disengaged.

“It took him months, and much criticism from civil society, to finally issue a statement “condemning” the killings. His aloofness feels, at worst, like a tacit enabling of murder and, at best, an absence of sensitive leadership.

“Most important, his behavior suggests he is tone-deaf to the widely held belief among southern Nigerians that he promotes a northern Sunni Muslim agenda.

“He was no less opaque when the Nigerian Army murdered hundreds of members of a Shiite Muslim group in December, burying them in hastily dug graves. Or when soldiers killed members of the small secessionist pro-Biafran movement who were protesting the arrest of their leader, Nnamdi Kanu, a little-known figure whose continued incarceration has elevated him to a minor martyr.”

In terms of the war on corruption, she said, “Nigerians who expected a fair and sweeping cleanup of corruption have been disappointed. Arrests have tended to be selective, targeting mostly those opposed to Mr Buhari’s government.

“The anti-corruption agencies are perceived not only as partisan but as brazenly flouting the rule of law.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Lagos Eyes Investment Surge as Sanwo-Olu Unveils Growth Strategy

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Governor Babajide Sanwo-Olu of Lagos State is spearheading a bold push to attract significant investment inflow to boost the state’s economic growth.

During a Pre-Summit Investor Roundtable at the Africa Social Impact Summit (ASIS 3.0), held at Eko Hotels and Suites, the governor outlined strategic opportunities for investors.

With the theme “Invest Lagos – Investment Opportunities,” the summit was organized by the Sterling One Foundation in collaboration with the Ministry of Commerce, Cooperatives, Trade, and Investment.

Attended by business leaders, chambers of commerce, and industry captains, the event underscored Lagos’ potential as a hub for economic activity.

Sanwo-Olu highlighted Lagos’ positive economic outlook, citing an expanding population and sustainable infrastructure as key growth drivers.

Despite challenging business environments, the state’s economy has shown resilience, welcoming new investments while sustaining existing ones.

The governor emphasized reforms aimed at improving the ease of doing business. He mentioned that digitizing services had reduced bureaucratic hurdles, fostering a stable business climate.

Sanwo-Olu assured potential investors of the state’s commitment to creating a supportive environment that ensures returns and security for investments.

“In the last five years, Lagos’ GDP has grown by 50 percent,” Sanwo-Olu stated. “We aim to sustain this growth and ensure the gains of the past years are not reversed.”

Sanwo-Olu identified sectors ripe for investment, including transportation, tourism, health insurance, and waterways. He expressed the government’s dedication to advancing development plans in these areas.

Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medebem, highlighted Lagos’ economic strides, noting that the state’s GDP had increased from N27 trillion to N41 trillion in five years.

She detailed strategic investments, particularly the allocation of N550.7 billion for infrastructure in 2024, and the commitment of N44.33 billion to food security initiatives.

Sterling Bank’s Managing Director, Mr. Abubakar Suleiman, pointed out that economic growth in Africa is often hindered by an unstable investment climate.

The summit aimed to build investor confidence by fostering trust and transparency in business environments.

“Lagos remains a leading destination for investors,” Suleiman noted. “The state provides clarity and access to markets, maintaining consistency in its investment strategies.”

Sanwo-Olu’s administration continues to focus on diversifying Lagos’ economy through strategic investments in various sectors.

The state’s proactive approach has positioned it as a global city and an emerging African financial center.

The governor’s initiative is expected to further solidify Lagos’ reputation as a prime investment destination, paving the way for sustained economic growth and development.

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Vice-President Harris Gathers Momentum as Democratic Nominee

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Kamala Harris

Vice-President Kamala Harris has secured the support needed to become the Democratic nominee for president.

This was after President Joe Biden announced he would not seek re-election, endorsing Harris as his successor.

According to CBS News, Harris has received endorsements from over 1,976 delegates, surpassing the threshold needed to clinch the nomination in the first round of voting at the Democratic National Convention (DNC) scheduled for August.

Delegations from at least 27 states have expressed full support, showcasing a strong backing across the nation.

In her address to campaign staff in Wilmington, Delaware, Harris expressed gratitude for the widespread support, adding that she committed to uniting the party and the country.

“We have 106 days until Election Day, and in that time, we have some hard work to do,” she stated.

Harris laid out her vision for America, contrasting it with that of her likely opponent, Donald Trump.

Speaking on the direction of the campaign thus far, she said “Our campaign has always been about two different versions of what we see as the future of our country. One focuses on the future, the other focuses on the past.”

She acknowledged the accomplishments of the Biden administration, highlighting her pride in serving as vice-president.

“My time serving as vice-president was one of the greatest honors of my life,” Harris said, underscoring her dedication to continuing the work they started.

In a phone call to his campaign team, Biden praised Harris, urging his supporters to rally behind her. “I’m hoping you’ll give every bit of your heart and soul that you gave to me to Kamala,” he said.

Despite stepping back from the race, Biden vowed to remain actively involved in supporting Harris and emphasized the importance of defeating Trump, calling him “a danger to this nation.”

Harris’s nomination marks a significant milestone, but challenges remain. The campaign will focus on addressing key issues such as healthcare, climate change, and economic inequality.

With millions of dollars pouring into her campaign since Biden’s announcement, Harris aims to capitalize on the momentum and build a coalition that appeals to a broad spectrum of voters.

As the DNC approaches, Harris is expected to formally accept the nomination, solidifying her position as the Democratic leader.

The coming months will be crucial as she works to unite the party and reach out to undecided voters. With her historic nomination, Harris stands poised to make a lasting impact on the future of American politics.

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President Declines Nomination, Endorses Harris for 2024

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In a significant political announcement on his X.com account, President Joe Biden has decided to forgo the opportunity to seek re-election in 2024, instead throwing his full support behind Vice President Kamala Harris.

The surprise move, shared with the public this morning, represents a pivotal moment in the Democratic Party’s journey toward the upcoming presidential election.

In his statement, Biden said that his choice to step aside is driven by a desire to concentrate on his remaining duties as President.

He expressed gratitude for the opportunity to serve alongside Harris, calling her selection as his Vice President in 2020 “the best decision” he has made. “My fellow Democrats,” Biden began, “I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term.”

The President’s announcement signifies a strategic shift in the 2024 election landscape. By endorsing Kamala Harris, Biden not only aims to consolidate support within the party but also to set the stage for a unified front against former President Donald Trump.

“Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year,” Biden declared. “Democrats — it’s time to come together and beat Trump. Let’s do this.”

This endorsement comes as a surprise to many, given Biden’s earlier commitment to seeking re-election.

However, it reflects a broader strategic maneuver to ensure party unity and strengthen the Democratic position in the face of a formidable opponent. By focusing on Harris, Biden aims to leverage her growing popularity and political acumen to fortify the party’s chances in the upcoming election.

Kamala Harris, who has served as Vice President since January 2021, will now be thrust into the spotlight as the presumptive Democratic nominee.

Her campaign is expected to build on the legacy of the current administration while addressing key issues facing the nation.

The move also raises the stakes for the Republicans, who will need to prepare for a robust campaign from a seasoned political leader in Harris.

As the 2024 election cycle ramps up, Biden’s endorsement is likely to reshape the dynamics of the race, influencing both Democratic strategies and Republican responses.

The coming months will be critical as Harris and her team work to solidify their platform and rally support from voters across the nation.

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