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South East: A Time to Regroup



Igbo Governors
  • South East: A Time to Regroup

This is not the worst time to be an Igbo in the Nigerian political sphere, in fact, it is actually the best time for Igbo politics. However, it will take some dynamic thinking to realize this. Say what you want about Tinubu but he understood this early and he played the game well, “you cannot go and play in the big leagues if you do not have big players who turn up and show up.”

You cannot go and play in the big leagues if you do not have big players who turn up and show up.

What does that mean? Look at the present crop of political leaders in the South West and immediate environments (from the 6 states to Kogi and Edo) and you can actually pick enough people called “Tinubu boys” who have political clout and weight. These are people who have been tested and have the strength and dynamism. Even those who are deemed estranged like Fayemi and Fashola. And guess what, they also show up meaning they hold down their own house and can turn up political numbers any day. Do a number of Tinubu Boys in Lagos alone and you will be shocked, from Hamzat to Leke Pitan. Not trying to praise Tinubu but this type of alliance is needed. I have not seen one single politician in the South East that commands such respect across the board in the South East. How can you position yourself for National Politics if you have not conquered regional politics?

How can you hold your own when you can’t show up to a party meeting with at least fifteen boys who are willing to work for you from all the states? Almost every South East politician is just popular in each of his/her state. This is the problem governors who perform like Obaino and talkers (even though he does too much) like Peter Obi has. They need people to fight for them and hold down other states for them.

You call it godfatherism, I say it is alliances. Imagine if Okorocha can boast of having a huge support base from not just Imo but also Ebonyi, Abia, Rivers, and Enugu. That is 5 states. He is already in a good position for any political negotiation and he is more likely to get what he asks for if he wants to form an alliance with anyone.

You call it godfatherism, I say it is alliances.

Saraki did not become this influential by locking himself in Kwara. No, he played his politics in his region. Same as El Rufai. People have no idea the politics that happened on the morning of the primaries between Fashola, El Rufai, and Tinubu. That could have cost President Buhari the ticket if not for alliances.

Similarly, Akpabio is facing the same problem, his support basically stops in Akwa Ibom (which the governor is doing his best to uproot) outside the state, none. At least, Amaechi even though he is as dramatic as a woman (no disrespect to women) but he is bringing his boys out and giving them posts who will in turn spread his own political clout. That is not even national politics, but regional.

People wonder why the Tinubu group can be so confident about Lagos. Because they have done the work of 100 years. They have almost every traditional leader, every market leader, every motor park, and almost every structure on the informal side and the formal side, they allow the social media boys do the dirty fight. If you don’t know, you can’t beat the Tinubu boys on Twitter and Facebook. They are always ready.

This is the time for the South East politicians to forge intra-regional alliances. Have one or two politicians in the South East and parts of the South-South who can boast of at least 30 percent of voters in each state in terms of Senators, House of Representatives, State assemblies, etc., and then launch for the National scale.

This is the time for the South East politicians to forge intra-regional alliances.

However, playing the victim card while expecting things to fall into your arms will not help the region. The South East has to stop claiming marginalization, everybody in Nigeria has been marginalized but not everyone chooses to wear it on their sleeves. Stop attacking other tribes because you feel they have it better or they made better calculations, if you lose, take that loss with your chest, go home and work on it, come back to another fight smoking and looking new (political fights are not every 4 years, they are every re-run election, every party ward primary, every local government poll) put your players in position that will help spread your influence so when they call your name in one place, the response is heard from 7 places. That is a political influence.

The South East has to stop claiming marginalization, everybody in Nigeria has been marginalized but not everyone chooses to wear it on their sleeves.

And politicians have to stop looking like tribal bigots –even if you are, you are a politician, polish yourself. See how commissioners in Lagos, went to be senators, ministers, and governors. Don’t restrict your planning to one tribe. Ambode did a lot of the financing of Edo politics on Tinubu’s behalf now, they have a governor they can plan with. Governors in the South East have to capture grounds outside their state, make none indigenes commissioners and advisers and send them to be senators in their states but what have you in their states. Defeatist.

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

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President Tinubu Orders Immediate Settlement of N342m Electricity Bill for Presidential Villa



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President Bola Tinubu has directed the prompt settlement of a N342 million outstanding electricity bill owed by the Presidential Villa to the Abuja Electricity Distribution Company (AEDC).

This move comes in response to the reconciliation of accounts between the State House Management and the AEDC.

The AEDC had earlier threatened to disconnect electricity services to the Presidential Villa and 86 Federal Government Ministries, Departments, and Agencies (MDAs) over a total outstanding debt of N47.20 billion as of December 2023.

Contrary to the initial claim by the AEDC that the State House owed N923 million in electricity bills, the Presidency clarified that the actual outstanding amount is N342.35 million.

This discrepancy underscores the importance of accurate accounting and reconciliation between entities.

In a statement signed by President Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, the Presidency affirmed the commitment to settle the debt promptly.

Chief of Staff Femi Gbajabiamila assured that the debt would be paid to the AEDC before the end of the week.

The directive from the Presidency extends beyond the State House, as Gbajabiamila urged other MDAs to reconcile their accounts with the AEDC and settle their outstanding electricity bills.

The AEDC, on its part, issued a 10-day notice to the affected government agencies to settle their debts or face disconnection.

This development highlights the importance of financial accountability and responsible management of public utilities.

It also underscores the necessity for government entities to fulfill their financial obligations to service providers promptly, ensuring uninterrupted services and avoiding potential disruptions.

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Abuja Electricity Distribution Company Issues Ultimatum to 86 Government Agencies Over N47bn Debt



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The Abuja Electricity Distribution Company (AEDC) has issued an ultimatum to 86 government agencies, including the Presidential Villa, owing a collective debt of N47 billion.

The notice comes as a response to the prolonged failure of these agencies to settle their outstanding electricity bills.

According to the public notice released by the AEDC management, some of the highest debts are attributed to prominent entities such as the National Security Adviser (owing N95.9 billion), the Chief of Defence staff barracks, and military formations (indebted to the tune of N12 billion).

Also, several ministries, including the Ministry of the Federal Capital Territory and the Ministry of Power, have sizable outstanding bills.

The AEDC has expressed its frustration over the inability of these government bodies to honor their financial obligations despite previous attempts to facilitate payment.

In response, the company has warned of imminent disconnection of services if the outstanding debts are not settled within 10 days of the notice.

The outstanding debts are attributed to various factors including the devaluation of the naira, cash scarcity resulting from demonetization programs, high inflation rates, removal of fuel subsidies, and foreign exchange challenges.

These financial burdens have adversely impacted the operations of the AEDC, contributing to a loss of N99 million in foreign exchange alone.

As the deadline for payment approaches, government agencies are under pressure to address their outstanding debts to avoid service disruptions.

The AEDC remains steadfast in its commitment to ensuring that all entities fulfill their financial obligations, underscoring the importance of prompt payment for uninterrupted electricity services.

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Mali, Niger, and Burkina Faso’s Exit from ECOWAS Raises Economic Concerns




Plans by military-ruled Mali, Niger and Burkina Faso to break away from a West African bloc have the potential to backfire on their already fragile economies and exacerbate widespread food insecurity.

The trio of nations are all landlocked and among the poorest in the region, with annual per-capita gross domestic product of less than $1,000.

Exiting the Economic Community of West African States places them at risk of losing access to a $702 billion market, and exposes them to increased tariffs and restrictions on the movement of goods and financial flows.

“The military coup leaders who control Burkina Faso, Mali and Niger have managed to score the silliest own goal since the UK voted for Brexit,” Charlie Robertson, head of macro-strategy at FIM Partners, said in an emailed note. “They take out 8% of Ecowas’ GDP and lose access to markets like Nigeria and Ghana, which together have a GDP of $467 billion.”

Ecowas members benefit from the free movement of goods, capital and people within the bloc. While trade between its 15 members is dominated by Ivory Coast, Ghana and Nigeria, and remains relatively small at about $277 million — or about 15% of the total they conduct — it has the potential to grow to as much as $2 billion over the next few years, the International Trade Centre said last year.

Sub-Saharan Africa has seen nine successful military coups since 2020, and Ecowas has been pushing for a return to civilian rule among those within its ranks. It suspended Niger, Mali and Burkina Faso and imposed far-reaching economic and diplomatic sanctions on them, but the latter two nations have since been readmitted to the bloc and relations had been regularized.

Nigeria, which holds Ecowas’ rotating chairmanship and generates more than half its GDP, said it deplored the juntas’ actions, which amounted to “public posturing” and would deny their populations the right to free movement and trade, according to a statement from the Ministry of Foreign Affairs.

Mali’s Foreign Minister Abdoulaye Diop defended the decision to leave Ecowas, saying it posed a threat to his nation and that its push for elections to be held was hurting its people.

“This decision was in our best interest in order to protect our interests and work with friendly countries,” he told public broadcaster ORTM on Monday. “We’re not alone, we have Niger and Burkina Faso.”

Credit Risks

Besides putting trade at risk, the three nations’ ability to access credit will also be impacted — they are all reliant on the regional market for financing because they can’t access international capital.

Mali and Niger defaulted on their domestic debt in 2021 and 2023 respectively after they lost access to the regional market. Burkina Faso has retained access, but if it is withdrawn its credit rating may be downgraded because of the increased risk of it being unable to refinance its commercial debt, S&P Global Ratings said in an emailed note.

“It’s a bit early to assess what the impact is going to be,” Pierre-Olivier Gourinchas, the International Monetary Fund’s chief economist, told reporters in Johannesburg on Tuesday. “In general, having an integrated economic area is something that’s going to be favorable, conducive to trade and conducive to higher growth. Moving away from this is going to have the opposite effect.”

The juntas haven’t indicated whether they intend leaving the West African Economic and Monetary Union, which seeks to promote financial integration in West Africa and regulates a regional central bank and the French-backed common West African franc that’s used by eight countries. Such a move would make it very difficult for commercial banks to continue operating.

Negotiated Solution

“The impact of exiting the WAEMU – which is not Moody’s baseline expectation – would have credit-negative implications for regional banks across the monetary union,” Mik Kabeya, a Moody’s Investors Service vice president and senior analyst, said in an emailed response to questions.

On Sunday, Ecowas said it was ready to find a negotiated solution to the “political impasse.” It hasn’t followed through on previous threats to reinstate elected leaders by force.

“Putting the threat of military intervention on the table without the desire to follow through, was a show of weakness, not strength,” Joachim MacEbong, a senior governance analyst at Stears Insights, said in an emailed response to questions. “It has probably emboldened the regimes to think they can negotiate.”

Mali and Burkina Faso are scheduled to hold elections this year, according to agreements they struck with Ecowas. Niger has complicated talks with the bloc, preventing its mediators who visited the capital, Niamey, last week from leaving the airport.

The juntas “want to stay in power,” Ibrahima Kane, Executive Director of Open Society Foundations Africa, said by phone from Dakar, Senegal’s capital. “Naturally they will try to get maximum from the bargain.”

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