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Tag: President

  • What I will do better as president in two years than Tinubu – Obi

    What I will do better as president in two years than Tinubu – Obi

    The 2023 Presidential Candidate of the Labour Party, Peter Obi has explained how he will perform better than President Bola Ahmed Tinubu.

    Obi disclosed this on Tuesday in an interview on Arise News criticizing the current administration of being ineffective in implementing economic policies.

    Obi asserted that if he were the President, the country would have experienced drastic positive changes in two years as he would have injected money into productivity that would lead to a more productive and sustainable economy.

    He stated, “The President that is there today, how many years has he stayed? Two years, and look at the turn of things. It means you can change things in two years. That means if I were there, you would have seen considerable change in critical areas. I would tackle corruption head-on, and I would reduce the cost of governance. You would have seen borrowed money invested in critical areas.”

    “Also, we have a country that is in huge debt. The current administration met a debt of about N17tn; in two years, it has moved to over N170tn.

    “The cost of debt servicing is above the budget for critical areas like health, and education. 70 per cent of our primary health care centres are not functioning. I would fix our PHCs and primary schools if I were president.”

     

  • Goodluck Jonathan and others spoke to an un-listening president and his unelected vice – By Godwin Etakibuebu

    Goodluck Jonathan and others spoke to an un-listening president and his unelected vice – By Godwin Etakibuebu

    First, I have it a duty to simplify the above captioned topic to enable readers’ understanding. This need to be done before embarking on the actual journey of producing the full body of this piece.

    The President named here as un-listening is Bola Ahmed Tinubu. That he is not listening is not a false allegation against him. Nigerians would be willing to testify that their own elected President would never listen to them – he does it as it pleases him, and not as his people would have wanted. 

    And the unelected vice-president under reference here could not have been Kashim Shettima, whom Nigerians elected as the 15th Vice-Present of the Federal Republic, and sworn in with his principal, on May 29, 2023, to take charge of our country. 

    Instead, the unelected vice-president under discussion here is Nyesom Wike – immediate past governor of Rivers State, and now Minister of the Federal Capital Territory. He, Nyesom Wike, became so-known, through a perfidious means of political coup-de-tat, The route he chose tallied with some of the theories of President Bola Tinubu himself. Only two examples would be okay here.

    While in Abeokuta, campaigning for the APC Primary’s ticket, Bola Tinubu made a very bold pronouncement of “Emi l’okan”, meaning “It Is My Turn”. He meant, by that statement, that it was his turn to become president of Nigeria. That was September 13, 2022. And he became.

    Then leaving the Chatham House, in the United Kingdom, the presidential candidate of the APC, as he was then, told members of his Party, in a properly media-covered outing, that “Political power is not going to be serve in a restaurant. They don’t serve it a la carte. At all costs, fight for it, grab it and run with it.” That was December 8, 2022. And he fought for it, grabbed it, and ran away with what he grabbed to become the president.

    One man that was not with him in Abeokuta; where he declared that it was his turn, and also not with him after the Chatham House show in London, where he taught his followers to steal – sorry, to grab and run away with what is grabbed, but got the meaning of the two messages clearly was the tten governor of Rivers State, Nyesom Wike. 

    The man, Wike, as of the time Bola Tinubu was establishing his school of “grabbing and running away with peoples’ properties”, has had a fixated eyes on the latter’s achievement as Lagos State governor. And he had studied two major things about the man – Bola Tinubu and had decided to follow his examples to the fullest.

    Those two things that Wike chosen to pick from Tinubu were: 

    1. How the man was able to conquer Lagos and turned the whole State to his personal property, or his Estate. I think, in my opinion, Wike admired the technique the Asiwaju used in having permanent grip on who the future governor of the State would be as long as he [Tinubu] remains alive. 
    2. The second thing Wike inherited from understudying the Jagaban, again, in my opinion, was that Bola Tinubu, as a governor. never tolerated “second-in-command”, or what we call Deputy Governorship. Reality was that during his two tenures as governor, Tinubu changed his deputy governors the same way and manner one changes his/her underwear. 

    Though Wike liked this formula, he however adopted it with wisdom, deferring its adaptation till the future, at a time for presidency’s place of operation, because he – Wike, had a very romantic and robust relationship with his deputy throughout his two tenures as a governor. 

    Nysom Wike went to work immediately in acquiring all the political structures in Rivers State, as the 2023 General Election was approaching. He first of all selected all those that he wanted to run for all available political offices in Rivers State. These included all members of the State House of Assembly, the one person he has chosen to become his successor as a governor, the 3 Seats for the Senate and all members going to the House of Representative, at the National Assembly.

    He took a further step by purchasing the needed political Party forms to enable contenders to contest for the elections, filled all the forms and filed same with INEC. He did and paid for everything. Wike confessed to all these publicly later. 

    Having secured the State under his political briefcase, he turned to make a deal with the man he believed may be winning the incoming election controversially – Bola Tinubu. He assured him of allocating all votes in River State to him – albeit, to secure his presidential victory. Don’t forget in hurry that Bola Tinubu was a candidate of the APC.

    And at the same time, he made it known to Tinubu that the total votes in Rivers State that would be confirming his presidential ambition shall also be giving victory to all members of his own Political PARTY – the PDP, for the State House of Assembly, the Senate and the House of Representative. It was a master political Abracadabra that no Politician in Nigeria ever achieved except Nysom Wike. That victory itself tells the story of how that election was fully manipulated.

    At this point of the greatest political rigging that ever occurred in Nigeria, Wike was signed in as the unelected vice-president of the Federal Republic.

    I chose to take this lengthy but painful route of updating us about the “darkroom agenda thesis” that created the metaphor of Nysom Wike and Bola Tinubu. 

    Let us now fast forward to the Nigerian political crises that set sailing from the waters of Rivers State, which may push the whole country asunder, except God the Almighty intervenes.

    I think the ship of disaster, that has sailed out of Port Harcourt and speedily heading towards Abuja, has the potential of consuming all of us – and this is for many reasons. A few amongst them would be the fact that the 3 arms of government in Nigeria, vis-à-vis the Executive, the Legislature and the Judiciary, have been synchronised and fully syndicated into one demonic Occult – albeit against the Nigerian People, by the current Government.

    And the facilitators of this Demonic Agenda may not want to hear any other voice except the one of the commanding officers – the two masquerades. Because for now, thought of wiser men and women around the world community matters not to the duo. 

    What matters to them is the return of the economy and the political structures of Rivers State, and by extensions, the Oil economy of the Niger Delta geopolitical Zone, fully back to Wike in one hand, and the victory of the 2027 General Election is assured for President Bola Tinubu.

    This is where the Roforofo fight [to the glorious memory of Fela Anikulapo] and the tragedy of victory for democracy might have been incubated! 

    Now, fact remains that we cannot close this essay on one episode, but before we go to the second episode, which shall be following this, most promptly, there is need to garnish the body of the topic – Goodluck Jonathan and others spoke to un-listening president and his unelected vice, by quoting what the latter said, in speaking to the ongoing battle between  the Federal Government and against Rivers State.

    Read very carefully, with full assimilation, of President Goodluck Jonathan verdict on the matter below. I shall be returning swiftly with the second and last comment on this trajectory.

    The former Nigerian leader said, “We’re talking about building a society where no one is oppressed, as reflected in the top paragraph of our national anthem. As a former president, and also from the Niger Delta, when the issue of suspending the governor came out, I think people called on me, ‘President Jonathan you should say something.’

    “What is happening in Nigeria today regarding the situation in river states is like an Indian proverb that said that if somebody is sleeping, really sleeping, you can easily wake up that person. But if that person is pretending to sleep, you find it difficult to wake up that person. The key actors in Nigeria, from executives to the legislature, and the judiciary, they know the correct thing to do, but they are refusing to do it. They are pretending to sleep.

    “Waking such a person is extremely difficult, but the person knows the right thing. The clear abuse of offices, clear abuse of power, clear abuse of privileges, cutting across from the three arms of government, from the executive to the parliament to the judiciary. And I always plead with our people that whatever we do affects everybody.

    “No businessman can bring his money to invest in a country where the judiciary is compromised, where a government functionary can dictate to judges what judgment they will give. No man brings his money to invest in that economy because we are taking a big risk. So whatever we do affects everybody.

    “And if we want to build a nation where our children and our grandchildren, no matter how painful it is, we must strive to do what is right. It may cost us, but we must endeavour and pay the price to insist on doing what is right. Whether you are holding an executive office as a president, a minister, governor, or special advisor, executive, whether you are holding an office in the parliament, senate, or rep, whether you are a judicial officer in high courts or appellate courts, we must strive to do what is right.

    “If we want to build a nation that our children will be proud of. As we engage in these discussions, let us remember that promoting social change is not a one-time event, but a continuous process. It requires a sustained commitment, collective action, and unwavering dedication to the values that promote good governance.”

  • Call me emperor, not just president – By Chidi Amuta

    Call me emperor, not just president – By Chidi Amuta

    President Bola Tinubu has dealt a fatal punch on Nigeria’s democratic prospects. As the head of the executive branch, he has injured the judiciary and subverted the legislature in what promises to be a dangerous drift towards authoritarianism.  On the Rivers crisis, the Supreme Court ruled on the side of deploying democratic methods to resolve outstanding issues in the crisis. The embattled Governor, Mr. Similayi Fubara was in the process of obeying the Supreme Court when Tinubu struck a lethal political blow.

    The President hastily announced a suspension of the governor and his deputy as well as all democratic structures in the state. He appointed a sole administrator for the state and inaugurated Mr. Ebas, a retired Navy Chief to run the oil rich State as he deems fit for the next six months. The Attorney General of the federation has tacitly admitted that the presidential action may have been somewhat hasty but in a bid to avert an anticipated ugly security situation,  for fear of what had not yet taken place. But the constitution provided for real credible security threats or real insecurity, not speculative fears lurking in the unknown future.

    The expectation that the National Assembly could overturn the strange emergency declaration has also been dubiously subverted. Instead of a straightforward electronic or manual vote count followed by a numerical , the two arms of the National Assembly adopted a nebulous voice vote to quickly approve the presidential declaration of an emergency over Rivers state. Hardly any informed debate on the matter took place. Scarcely any review of the security situation necessitating the emergency declaration. Just a robotic rubber stamp “yes” in  a manner that has become signature for the Tinubu era legislature.

    Prior to this sorry rubberstamp endorsement, national outcry against the declaration of the emergency had gone viral and widespread. Informed voices in Rivers State had cried out. So also had the leaders of the South South region, the Ijaw ethnic nationality and opposition political figures in the state. Governors of the South South zone had unanimously opposed the president’s declaration and suspension of Fubara and his Deputy. Notable lawyers in the nation have either as individuals or associations punched legal holes on the process and substance of the emergency declaration. More significantly, key national opposition figures have since been screaming themselves hoarse on the illegality of the path taken by the president to arrive at this curious emergency declaration. Messrs Atiku Abubakar of the PDP, Peter Obi of the LP, Nasir El-Rufai of the SDP and a host of other smaller party voices have screamed out at the illegality and unconstitutionality of the entire process.

    Ordinarily, a security deterioration in any part of the nation that could warrant a State of Emergency ought to be self evident. The danger to national security ought to be so self-evident that the public mood would in fact demand that the president declares an emergency. None of that was evident in Rivers state in the last one week. But the president went ahead to make his curious declaration, giving the judgment of the Supreme Court or the democratic process no room to resolve the issues in question. Instead, the President assumed the role of grand arbiter by declaring governor Fubara on all counts. He accused the governor of willful damage to public property through the malicious demolition of the State House of Assembly. He equally accused the governor of precipitating the political crisis in the state and rebuffing earlier peace overtures towards a resolution.

    In its totality, the presidential broadcast making the emergency declaration was anything but statesmanlike. It did not balance the blames between Fubara and his traducers. It hardly mentioned Mr. Wike who is clearly the architect of the entire Rivers crisis. In assuming that Wike is innocent, the president was taking on a partisan stance that vilified the PDP and exonerated his own APC. The trouble though is that his man Wike is neither PDP nor APC. He is a political bat that can only happen in the Nigerian political landscape.

    Not in one instance did the president mention the nefarious role of his Minister of the FCT, Mr. Nyesom Wike, who has made the political destabilization of Rivers State an adjunct of his role as FCT Minister. It is road side knowledge that since he was appointed FCT Minister, Mr. Wike has spent more time fomenting political trouble in Rivers state than ensuring tolerable governance in the disorderly Federal Capital Territory which has recently become the crime headquarters of the nation.

    On a political scale, the entire declaration of an unwarranted State of Emergency in Rivers State flies in the face of all sensible definitions of statesmanship or constitutional democracy. Its political undertone is implicit in Tinubu’s inclusions and exclusions in the text of the broadcast. The move increasing resonates with the President’s anxiety about his political future in 2027. It is common knowledge that in order to win a presidential election in Nigeria, a candidate needs to win the majority vote in a number of key population centres and states: Lagos, River/Port Harcourt, Kano and Abuja. In 2023, Tinubu nearly lost the presidential election because he was trounced in his Lagos home base, Abuja and Kano. He only ‘won’ in Rivers because Wike was on ground to allegedly manipulate the votes in  his home Obio Akpor Local Government area of Port Harcourt to deliver Rivers to Tinubu. This feat and fiat by Wike added to what sold Wike to Tinubu as a political contractor of immense value coupled with his use value as a permanent destabilizer of the opposition PDP and neutralizer of the Atiku Abubakar threat.

    As things stand today, Wike remains Tinubu’s most valuable political  asset outside his South West home base where his stronghold has narrowed to the Lagos and Ogun areas from where the majority of his political appointees have been drawn.

    Beyond this nefarious investment in Wike as a dangerous geo political capital, Tinubu recognizes the strategic importance of the Niger Delta in the nation’s economics and politics. It is a zone of sleeping instability  that can alter –for good or ill- the context of the nation’s economy and security architecture. The heavily armed miscreants in the Ijaw creeks can negate the billions of dollars annually budgeted on defence spending by the Nigerian state Those rough kids in dugout wooden boats can alter the calculations about the global energy outlook and even determine oil prices in far away Vienna. It is therefore quite possible that Mr. Tinubu may have erred on the side of political caution by this hasty declaration to avoid security embarrassment should the Rivers situation get out of hand.

    Whatever may be his prompting on this disastrous State of Emergency declaration, Mr. Tinubu has walked into a political minefield of multiple bad possibilities. By failing to name Wike as a wrong egg in the pack, he has consecrated the man into a political Warrant Chief of sorts who can hardly be touched without grave harm coming to the political calculations of the president towards 2027. By single-handedly suspending or impeaching Fubara, Tinubu has made himself a partisan  in  the political fight in Rivers. And to the best of my knowledge, Rivers is a precarious place to declare your partisanship so early in a brewing political fight.

    AS things now stand, it would be difficult to dissuade the common people of Rivers state from feeling a sense of victimhood. The Supreme Court had ruled against their entitlement to their constitutionally guaranteed federal revenue  because of disagreements among politicians. Now the president has declared an emergency garrison rule over them thus placing them under an implicit military rule, thereby reducing further their freedoms and rights as Nigerian citizens. The ordinary Rivers person in Port Harcourt or Bonny is bound to ask: “What have we done to deserve this treatment?” Do the peoples of the South South region have a right to feel that Tinubu is treating them like a zone of conquered people? Such a feeling of alienation has political consequences which I am sure both Tinubu  and his handlers fully understand.

    Worse still, by taking unconstitutional steps to declare and sustain his State of Emergency, Tinubu may have walked in the direction of early steps towards unconstitutional and authoritarian rule. On that route, his highly informed opponents in the race for 2027 are waiting with a public that is already weaponized and angry against him for reasons of economic desperation and hardship. A largely unpopular president would be taking a big risk by taking actions  that alienate even more significant populations.

    Authoritarianism and unconstitutional moves cannot possibly enhance the re-election chances of an unpopular president surviving on a tenuous mandate.

  • IKEDDY ISIGUZO: Presidential Amnesty Programme – A time for more understanding, more purpose

    IKEDDY ISIGUZO: Presidential Amnesty Programme – A time for more understanding, more purpose

    By Ikeddy ISIGUZO

    SOME critics of the Presidential Amnesty Programme, PAP, have questioned its continued stay, an indication of their under-rating of what PAP has achieved in its 16 years. They do not care. They are part of those who find reasons not to support improvements of the Niger Delta.

    Interestingly, some of them are from the Region. Their expertise is in putting themselves, only themselves, first.
    Another pointer to the many challenges of PAP is the recent media buzz that Dr. Dennis Otuaro, PAP’s current Administrator should be changed. He has over-stayed his welcome.

    Dr. Otuaro is just 12 months in office. How long does it take to solve the problems in PAP, some of which have been around since the inception of PAP? What can be achieved in 12 months, outside continuing with existing programmes while laying new policy pathways?

    With hindsight, it is easy to determine what should have been done with PAP which came into existence at a time of one of the biggest threats that Nigeria faced.

    Hindsight offers the advantage of being able to analyse events that had taken place with “wisdom”. In 2007, PAP hit the ground and everyone took off to fix the sinking Nigerian ship.
    Negotiations were on to secure enough peace to get resources from crude to sustain the economy. At the same time, militants were being convinced to lay down their arms with the offer of an amnesty nobody knew what it. It was a testy time.

    Yar’Adua has never got adequate recognition for the deft moves he made that saved Nigeria’s wells from going up in flames possibly with the country. He navigated those waters like a sea master. His poor health was not an excuse.
    Oil fields were on fire. Bombs were going off in different parts of the Niger Delta.

    Militant groups sprouted daily. They formed fiefdoms where they held sway.
    Militants had their little countries and decided who they dealt with. Those were the days that any security agent posted to those parts had almost the equivalent of a death sentence on his head.

    Warnings by the security agencies for the groups to de-escalate their threats were greeted with more threats. Nigeria was sitting on a time bomb with a clear and loud ticking.

    The activities of militants were security as well as economic threats. The economy was sliding to dangerous sides. Oil production nose-dived to about 700,000 barrels daily, barely enough to meet Nigeria’s obligations.
    Late President Umaru Musa Yar’Adua jumped into the matter and got great results.
    He created PAP following series of consultations with different groups. The militants were convinced to disarm and accept the government’s amnesty.

    They poured out in unbelievable numbers from the creeks. The last count in 2009 was over 29,000. Government had no idea that militants were that many.

    It was from the beginning of PAP that the challenges began. There was shortage of funds, shortage of expertise, and shortage of resources in camps where the ex-militants were quartered. The numbers were overwhelming coupled with unfinished fights that certain militants and their followers wanted to continue with other groups.

    The tenacity of those running PAP, fear of new militants and government’s understanding of PAP’s importance counted.
    Yar’Adua was not around long enough to nurture PAP to his intention. Subsequent administrations have merely tolerated PAP.

    They saw the programme progress to another measured success of interventions to stabilise the Niger Delta.

    Peace, stability, and the security that PAP generated for the Niger and the country, are lost on those who did not witness those dark days, or have decided to ignore the importance of PAP for other reasons.

    The mission of PAP that was stated as, “To transform ex-agitators into entrepreneurs and/or employable citizens who will become net contributors to the economy of the region and the country through effective collaboration with relevant public and private institutions and state governments in the region,” has proven to be more challenging than as plainly written.
    If deciding what to do with over 29,000 was a major matter, the problems include appropriate education and skills to enhance the integration of ex-militants. Funding remains a very big challenge.
    Fewer resources have meant a cut on the number of scholarships, reduction in the numbers that can attend some courses and programmes. PAP is continuing with its mandate in line with the times.
    One area where Dr. Otuaro has been outstanding is working with “corporate stakeholders” to establish partnerships and collaborations that would afford PAP opportunities to expand its works. The PAP Administrator practically talks to anyone he thinks has something that the Presidential Amnesty Programme needs. Commendations flow for his efforts.
    An area PAP has not blown its trumpet is how the thousands of ex-militants it reformed are making useful contributions to society. When PAP talks about the number of people it has trained enough importance is not made out of those statistics with linkages that project the value chains of PAP.
    Why are people calling for Dr. Otuaro’s head? What did he do in one year that irks some people?
    Dr. Otuaro arrived at a time of leaner resources. Some PAP stakeholders are reportedly unhappy about the turn of the tide. He talks about “a more structured and sustainable approach to development”.
    Sustainable development is a great idea, and it is long-term.
    Delicious as smoked meat is, our elders insist that there must be something with which to warm the mouth while waiting for the delicacy.
    The PAP Administrator should reach out more to explain his policies to the public even in times of peace. He is in the best position to let us know his vision of PAP and where he needs him. We should help him. When we do, we would be helping ourselves, Dr. Otuaro, not PAP. The stability that the PAP provides in the Niger is too important to be left to guesses.
    PAP needs more resources to do more. Dr. Otuaro’s next task is to find those resources.

    Finally…
    OMOBOLA Adeseye Ogunlewe, 81, former Senator, former Minister of Works, weighed in on the suspension of Senator Natasha Akpoti-Uduaghan. He said Natasha’s beauty was central to the dispute; she is too beautiful to be ignored. He did not suggest a cessation of election of pretty women. An elder has spoken.
    NASIR el-Rufai, former Governor of Kaduna State has made a couple of confessions that should interest the security agencies. He said he knew some people who made monetary payments to improve their chances of being Minister. He did not indicate that he reported the crimes, formally called bribery and inducement, to the police.
    THERE have been too many petrol tanker accidents and many lives lost that the authorities should have found a solution. Do lives no longer matter? They should matter after all, “The security and well of the people should be the primary purpose of government,” says our Constitution.
    ANOTHER suicide off the famed Third Mainland Bridge. Suicide is not a solution but such final pain as leaping off a bridge challenges us individually to care more. Too many things are happening around us. We are the ones to save ourselves – government is too busy being government.

    ISIGUZO is a major commentator on minor issues

  • Just in: South Korean president impeached by parliament over plot to impose martial law

    Just in: South Korean president impeached by parliament over plot to impose martial law

    South Korean President Yoon Suk Yeol has been impeached.

    Yoon was impeached on Saturday by the South Korean parliament.

    The impeachment followed the President’s attempt to impose martial law, a move that shocked the nation, split his party.

    Al Jazeera reports that 204 members of the Korean parliament voted in favour, while 85 voted against the impeachment.

    Yoon has been banned from moving abroad while he’s being investigated.

  • U.S election: Dollar, Bitcoin soar as Trump emerges president -elect

    U.S election: Dollar, Bitcoin soar as Trump emerges president -elect

    The United States dollar has surged as Republican Donald Trump surged to win back the White House in the presidential race.

    Bitcoin is also at a record high as traders bet on potential tax cuts, tariffs, and rising inflation under Trump.

    The result of the election is expected to have a major impact on the global economy.

    The Republican Party has also taken control of the Senate but there are still votes left to count.

    The dollar has soared by around 1.5% against a host of different currencies, including the pound, euro and the Japanese yen.

    Meanwhile, the value of Bitcoin jumped by $6,000 (£4,645) to a record high of $75,371.69, surpassing the previous high of $73,797.98 in March this year.

    In Japan, the benchmark Nikkei 225 stock index ended the session up by 2.6%, while Australia’s ASX 200 closed 0.8% higher.

    Experts are predicting a turbulent day for the financial markets as a response to global uncertainty and Trump’s potential plans for the economy.

    “Many of his measures will be inflationary and likely to lead to a rise in bond yields, putting pressure on the Federal Reserve in its quest to bring interest rates down,” BBC quoted Lindsay James, investment strategist at Quilter Investors, as saying.

    Trump has pledged to make the U.S. the “bitcoin and cryptocurrency capital of the world”.

    He plans to put billionaire Elon Musk in charge of an audit of governmental waste.

    The major U.S. stock indexes also look likely to open sharply higher. That came after the Dow Jones Industrial Average, S&P 500, and Nasdaq all closed more than 1% higher on Tuesday.

    Tesla’s Frankfurt-listed shares rallied over 14% at the open on Wednesday. Elon Musk, Tesla’s top shareholder, has supported Trump throughout his electoral campaign.

    Trump has said he would dramatically increase trade tariffs, especially on China, if he became the next U.S. president.

    “Trump’s global trade policies are causing particular angst in Asia, given the strong protectionist platform on which more aggressive tariffs on imports into the US have been pledged,” said Katrina Ell, director of economic research at Moody’s Analytics.

    The former president’s more isolationist stance on foreign policy has also raised questions about his willingness to defend Taiwan against potential aggression from China.

    The self-ruling island is a major producer of computer chips, which are crucial to the technology that drives the global economy.

    Meanwhile, Trump’s tax-cutting agenda has also been broadly welcomed by big American companies.

    “If Trump gets elected, we should see pro-business policies and tax cuts, in turn possibly driving up inflation and less rate cuts,” said Jun Bei Liu, portfolio manager at Tribeca Investment Partners.

    However, not all indexes have reacted positively to the potential of a Trump victory.

    In mainland China, the Shanghai Composite Index ended the day down 0.1%, while Hong Kong’s Hang Seng was down by around 2.23%.

    Investors also have other key issues to focus on this week.

    On Thursday, the U.S. Federal Reserve is due to announce its latest decision on interest rates.

    Comments from the head of the central bank, Jerome Powell, will be watched closely around the world.

    On Friday, top Chinese officials are expected to unveil more details about Beijing’s plans to tackle the slowdown of the world’s second-largest economy.

  • CARTOON OF THE DAY: Our president is a globetrotter

    CARTOON OF THE DAY: Our president is a globetrotter

  • GOOD NEWS! Moghalu of Nigeria emerges president if African Governance University

    GOOD NEWS! Moghalu of Nigeria emerges president if African Governance University

    Nigeria’s Professor Kingsley Moghalu has been appointed President of the new pan premium tertiary institution, the African School of Governance (ASG).

    The high net worth appointment was announced today by the Kigali based institution.

    The ASG is founded to offer world class public policy leadership education to a broad spectrum of African new generation leaders in governance and development.

    The African School of Governance is the initiative of leaders in African governance, economics and development headed by leading African statesmen and international technocrats. At the helm of the founders is. President Paul Kagame of Rwanda. The initiative is supported by Mastercard.

    Read details below,;
    African Leaders Launch the African School of Governance (ASG) Initiative
    Kigali, Rwanda, 21st October 2024 – Today, the African School of Governance Foundation
    (ASGF) announced the establishment of the African School of Governance (ASG) graduate
    institution designed to offer world-class public policy education, research, and engagement
    programs. Prominent African leaders have come together in this landmark step, as the initiative
    is set to transform the continent’s leadership landscape by meeting the diverse needs of
    leaders across Africa.
    The ASG aims to address the continent’s pressing governance challenges by equipping
    emerging leaders with the mindsets, skills and knowledge required for effective leadership in
    Africa’s future. The initiative brings together visionaries committed to creating a sustainable
    governance model rooted in African realities.

    A Collective Leadership Vision
    The ASG initiative is founded by H.E. Paul Kagame, President of Rwanda, H.E. Hailemariam
    Desalegn, former Prime Minister of Ethiopia (both co-founders of the ASG Foundation) in
    consultation with other African leaders, academicians, and philanthropists dedicated to
    improving governance across the continent.
    ASG is supported by the Mastercard Foundation as part of its Young Africa Works strategy,
    which aims to enable 30 million young Africans, 70 percent of whom are women, to access
    dignified and fulfilling work opportunities by 2030.

    ASG will be led by esteemed independent governing board members, chaired by Makhtar
    Diop, Managing Director of the International Finance Corporation (IFC) and former Minister of
    Finance and Economy of Senegal, and including Donald Kaberuka, former President of the
    African Development Bank, Hajer Gueldich, Professor at the University of Carthage, Kishore
    Mahbubani, former Dean of the Lee Kuan Yew School of Public Policy at the National
    University of Singapore, and Francis Gatare, CEO of the Rwanda Development Board.
    The ASG Foundation has appointed Professor Kingsley Moghalu, former Deputy Governor of
    the Central Bank of Nigeria and a distinguished scholar and academic, to be the inaugural
    President of ASG. The collective vision of ASG’s leadership is to create an institution that offers
    world-class education in governance and public policy while promoting home-grown solutions
    to Africa’s unique challenges and opportunities.
    Speaking on the launch, H.E. Hailemariam Desalegn commented: “The time is ripe for an
    institution rooted in Africa’s needs and aspirations.

    The African School of Governance will be
    a hub for nurturing purpose-driven leaders equipped to tackle the continent’s greatest
    challenges and opportunities, combining Africa’s uniqueness with international best practices.

    This is not just an educational institution, but a movement towards sustainable African
    leadership.”

    Tackling Africa’s Development and Governance Challenges
    Africa’s rapid economic growth, increasing global influence, and evolving governance
    structures present unprecedented opportunities and challenges. From post-pandemic recovery
    to climate adaptation, the continent’s policymakers face complex and urgent issues that require
    skilled leadership.

    ASG aims to meet this critical need, by developing current and future
    leaders who can address these challenges through a shift in leadership mindsets, governance,
    and sustainable development to drive long-term, meaningful change across the continent.

    Academic Excellence and Tailored Programs
    ASG will offer a comprehensive suite of academic programs designed to meet governance,
    leadership, and policy deficit across Africa.

    These include the Master of Public Administration
    (MPA) and the Executive Master of Public Administration (EMPA) programs, which are tailored
    to mid-career professionals and senior executives, respectively. ASG will also provide
    specialized Executive Courses aimed at enhancing specific leadership skills for professionals.

    Additionally, the Young Leaders Program (YLP) and Senior Leadership Fellowship (SLF) will
    cater for high-potential undergraduates and seasoned professionals nearing the end of their
    careers, ensuring that ASG supports leadership development at every stage.

    ASG’s curriculum will be distinguished by integrating African historical, political, and socio-
    economic contexts. By grounding students in African realities, the institution will equip diverse
    leaders to navigate the continent’s complex governance challenges while drawing from global
    best practices.
    Innovative Research and Policy Engagement
    In addition to its educational offerings, ASG will play a critical role in advancing governance
    through its dedicated research centres. These include the Centre for Home-Grown Innovations
    in Policy and Governance, the Centre for African History and Leadership, the Centre for Trade
    and Regional Integration, and the Centre for Technology and Effective Delivery.

    These research hubs will focus on generating evidence-based solutions tailored to African
    governance challenges, helping policymakers design and implement effective policies and
    strategies.

    ASG’s commitment to policy engagement is equally robust, with plans to actively engage with
    governments, civil society, and private-sector stakeholders.

    Through policy labs, incubators,
    and collaborative partnerships, ASG will translate its research into actionable policy solutions
    that promote good governance and sustainable development across the continent.
    Leadership and Governance Structure
    As the inaugural President of ASG, Professor Kingsley Moghalu, a globally recognised leader
    in public policy and governance, will steer the institution towards its ambitious goals.

    Professor Moghalu, a former Deputy Governor of the Central Bank of Nigeria, has held senior
    positions in the United Nations system for 17 years and taught at prestigious institutions such
    as Harvard, Oxford, and The Fletcher School at Tufts University.

    He is also the author of several books, including the critically acclaimed Emerging Africa: How the Global Economy’s
    ‘Last Frontier’ Can Prosper and Matter.
    Makhtar Diop, Managing Director of the IFC and Chair of ASG’s Board, said:
    “We are excited to welcome Kingsley Moghalu as President of the African School of Governance.

    His sterling track record of leadership in international and national policymaking
    institutions, academia, and his thought leadership influence, will help make ASG a
    transformative graduate school and develop a new generation of purpose-driven leaders with
    the skills and mindsets to help Africa address the challenges of the 21st Century.”
    Professor Moghalu will be responsible for steering and shaping ASG’s academic vision,
    delivering learning programs that reflect the complex governance challenges facing Africa
    today.

    Under the guidance of the Governing Board, he will focus on recruiting top-tier African
    faculty, fostering academic excellence, and positioning ASG as a hub for intellectual and policy
    innovation.

    “The establishment of ASG is a powerful expression of a clear vision on the part of the founding
    leaders,” Prof. Moghalu said in response to his appointment. “I share this vision of a
    transformed Africa driven by competent leadership and governance, and I am honoured to
    have been tasked with leading ASG’s critical contribution to making that vision a reality.”
    Strategic Partnerships
    ASG is supported by the ASG Foundation, a not-for-profit foundation, that exists to help
    mobilize funding and manage its endowments, as well as give strategic guidance to the
    institution and support related initiatives for the development of African leaders.
    The establishment of ASG is supported by strong strategic partnerships with other world-class
    institutions, including the Lee Kuan Yew School of Public Policy at the National University of
    Singapore, and the Mastercard Foundation.
    A Pan-African Initiative with Global Reach
    Headquartered in Kigali, Rwanda, ASG is set to become a Pan-African institution with a global
    influence. Its mission is to build leadership capacity that transcends borders, ensuring that
    African voices are not only heard but lead the charge in global governance discussions.

    ASG’s partnership with institutions such as the Lee Kuan Yew School of Public Policy at the
    National University of Singapore further reinforces its commitment to providing a world-class
    education that draws from both African and international expertise.

    This announcement marks a significant milestone in Africa’s governance journey.

    Through the
    collective efforts of its founders and partners, the institution will help to nurture the leaders that Africa needs to tackle the challenges and opportunities of the 21st century.

  • Mambila Hydroelectric Power Project: This is one major project Tinubu must adequately address – Senator Manu

    Mambila Hydroelectric Power Project: This is one major project Tinubu must adequately address – Senator Manu

    …says the multiplier effect can change Nigeria

    The Senator representing Taraba Central Senatorial District, Haruna Manu has said the Mambila Hydroelectric Power Project is one major project President Bola Ahmed Tinubu must adequately address as its multiplier effect could make Nigerians smile.

    Manu made this disclosure while addressing the Senate Press Corps after presenting his motion on the power project last Thursday.

    Responding to a question on his motion bordering on power supply, Senator Manu said: “There wouldn’t be any meaningful development without power, there is none. There is nothing if we want to develop as a country, there is nothing as important as power.

    “Even the road infrastructures we are talking about, they are not as important as power because if you have a steady power, you will have the road infrastructure.

    “So it is very, very important and that is why almost all the various speakers when they contributed they talked about the importance of this project.

    “But some of them have talked about the legal issue that is there in the project but we have heard what the chairman of the senate committee on finance said that the legal issue has been resolved.

    “And I believe that since President Bola Ahmed Tinubu, he has actually given his committement at the COP28 in Dubai and I am sure he will take this project very seriously and I believe this administration will take this project unlike what happened previously.

    “This project it will be actualized during the lifespan of this administration and that is what we want and this project is not just for Taraba state, it is not just for the North East, it is for the entire country.

    “You could imagine what will happen injecting 3,050 megawatts into the national grid. Currently the whole consumption of my state is not more than 15 megawatts.

    “I remembered when I was the deputy governor, we were having less than 10 megawatts, my boss had an engagement with NEPA being the former minister of power for us in Taraba state to have up to 15 megawatts of electricity, the whole state the consumption is just 15 megawatts.

    “So you can imagine injecting 3,050 megawatts into the national grid. Currently what do we have? Around 4,000 megawatts but it is fluctuating, it is not up to that 4,000 megawatts, sometimes we have as low as less than 2,000. So you can imagine what 3,050 megawatts to the country.

    “And the most interesting thing about this project is, the entire cost of the project is five billion, seven hundred and ninety-two million dollars, Nigeria is contributing 15%.

    “We have consortium of Chinese companies that are contributing 85% of the entire project cost.
    And you have heard what former speaker House of Representatives, Aminu Tambuwal, former governor of Sokoto said, one of the contractors that want to do the Mambilla, they have constructed the largest dam in the world by constructing more than 22,000 megawatts in China and it is the largest in the world.

    “So they have the experience, it is just for us in Nigeria to get serious with our own 15% counterpart funding.
    Not only that, if you heard what I said in the motion, you can see the multiplier effect of that, the local content of it, the entire 15% is even for the local content.

    ” What that means is our local contractors will be part and parcel of this project.
    Ashaka Cement, Depan Motors, Innoson Motors, all of them they will be part of this project and it will create jobs, more than 55,000 jobs will be created through this project.

    “The lifespan of the project is 72 months, so you can imagine what will happen when you are creating 55,000 jobs because of the Mambilla Hydro project.

  • UPDATES: Kenya’s president to debate with protesters on X Spaces

    UPDATES: Kenya’s president to debate with protesters on X Spaces

    Kenya’s President William Ruto is set to hold a historic public online forum to talk to anti-tax protesters on social media platform X Spaces.

    His 31-year-old daughter Charlene Ruto has billed it as “the first ever president in the world to hold an online meeting with all Gen Z”.

    This is a reference to the young people behind the recent protests that have rocked her father’s presidency.

    The demonstrations against his finance bill were organised via X Spaces, a feature that allows users to host live audio conversations with others on the platform formerly known as Twitter.

    A state-funded human rights commission estimates more than 40 people died during the protests, most on the day the bill was passed by MPs last week. The interior ministry says 25 protesters were killed.

    The outrage over the proposed tax increases forced President Ruto to say he would withdraw the legislation intended to help reduce Kenya’s debt burden of over $80bn (£63bn).

    But the demonstrations have since morphed into calls for Mr Ruto’s resignation and demands that the security forces face justice over the killing of protesters.

    The president has now invited young people to join him on an X Space this Friday with the hashtag #EngageThePresident, between 11:00 GMT and 14:00 GMT (14:00 to 17:00 local time).