A list of Nigeria’s 50 richest politicians was recently released, with all but four of them (one of the four now deceased) being either former governors, former vice presidents, or former presidents. The current President, Bola Ahmed Tinubu, is also on the list, positioned at the top. The riches range from $80 million to $8 billion, amounting to trillions in Nigerian Naira. I have my doubts about two people on the list, but regardless, this wealth has likely been derived from the people’s commonwealth or public coffers. That much I have no doubt.
The recent revelations from Nigeria’s former Vice President, Professor Yemi Osinbajo, opened a can of worms about the corruption that has characterized the conduct of most top government officials and politicians in the country since the commencement of the Fourth Republic. Speaking on NTA, he claimed:
“A few weeks before the 2015 elections, $219 million (equivalent to N105 billion) in cash was taken out of the Nigerian treasury. For two weeks after that, the Central Bank of Nigeria did not have cash dollars. Let’s take $100 million of that, which today would be about N36 billion.
“The ‘Trader Money’ program, where we gave loans to 2 million petty traders, cost only N20 million. Yet, that was one withdrawal from Nigeria’s treasury. On another day, N60 billion was withdrawn by three Nigerians under a ‘strategic alliance contract.’ This money, totalling almost $3 billion, was taken but never returned, and we are still pursuing those involved around the world.
“How much is $3 billion? Our entire external reserves are $40 billion today. When we started, they were $28 billion. If someone makes away with $3 billion, how can you not expect widespread poverty? How can you not expect insufficient funds for education, infrastructure, and power? Sometimes I get emotional about corruption. I’m irritated that the same individuals who robbed this nation claim they can fix it. We are dealing with an outrage.”
Former Minister and Ambassador to Saudi Arabia, Alhaji Ibrahim Musa Kazaure, admitted that had Nigeria been fortunate with leadership, the country would have developed by now. He suggested that all those found guilty of corrupt enrichment, including himself, should face imprisonment for contributing to the decay that has almost destroyed Nigeria, especially in the current democratic era. These revelations make the President’s job far from enviable.
However, the current administration’s fire brigade approach to aiding the poor often fails to reach its intended target, or where it does, it is too little. Even if food items sent by the federal government for subsidized sale reach them, many people lack the purchasing power to afford them. Twenty trucks of rice here, thirty trucks of oil there—these are not enough to address the nationwide hunger that has become pervasive. A more comprehensive solution may lie in restoring some of the subsidies that were removed following the World Bank’s ill-advised recommendations.
If the rumoured removal of the Secretary to the Government of the Federation (SGF) is based on performance, the allegations of non-performance against the current SGF seem like scapegoating. Instead, Mr. President should closely examine the whole country’s problems: poverty, hunger, and anger. Since this crisis is not the fault of one official, the President will need to make significant changes within his administration, possibly replacing several non-performing aides, some of whom, even his “daughter” claimed, are impediments to his vision for a better Nigeria.
The President’s recent directive limiting the official convoy for ministers, ministers of state, and heads of federal agencies to three vehicles with four police officers and one DSS agent, intended to reduce government costs, is another fire-brigade approach to solving the nation’s economic woes.
The best and, for now, only way out of this monumental crisis is to reverse some of the biting economic policies of the current administration, rather than follow the World Bank’s recommendations blindly. Additionally, there must be a drastic reduction in lawmakers’ salaries and allowances at both the National Assembly and the State Houses of Assembly, which are currently outrageously high in a country where many struggle to feed themselves.
Being a politician in Nigeria requires no special expertise; anyone can enter the profession, much like journalism. Social media has even turned anyone with a smartphone into a “journalist.” However, a politician’s official earnings in a year are enough to pay the lifetime salary of five university professors or ten lifetimes for the “average” journalist—yet another reason President Tinubu’s job is unenviable.
For most of northern Nigeria, electricity has been non-existent for over seven days, and many believe it may be a deliberate decision by the administration. To blame unknown terrorists, as in the case of “unknown gunmen” terrorizing the southeastern region, is nonsensical. The National Grid has collapsed four times in that period, and 11 times in 2024, primarily affecting the North.
Northern governors are advised to meet the President and demand an immediate solution unless they are content with the current situation, knowing they have enough fuel for the government houses’ generators.
An Igbo lady recently questioned on social media the whereabouts of certain “human rights crusaders” who were known for their relentless criticisms of non-Yoruba administrations. Figures like Professor Wole Soyinka, Pastor Tunde Bakare, and Lawyer Femi Falana, all vocal in the past, are notably silent. Their tribe takes precedence over national concerns. In the past, they were critical of President Goodluck Jonathan and President Muhammadu Buhari, both of whom did not belong to their “chosen” tribe.
We continue to urge the wealthier members of the business community to increase their efforts to feed the needy, who form the majority of Nigeria’s population.
May God give us the means to be our brothers’ and sisters’ keepers, always.
Labaran wrote from Katsina.
