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Showing posts from March, 2011

Profiteers of Nigeria’s 2011 Elections

It is countdown to Nigeria’s April 2011 general elections. In a matter of days, Nigerians will once again file out to exercise their franchise which, hopefully, will bring about a peaceful change of government. While the electoral activities unfold, particularly since the November 23, 2010 release of election timetable by the Independent National Electoral Commission (INEC), some segments of Nigeria’s society have been reaping bountifully from the electioneering season, particularly from the political parties, aspirants and candidates. Major beneficiaries include the hospitality, media, banking, automobile, entertainment and textile industries; real estate and security sectors as well as law firms. Starting with the hospitality industry, since the beginning of this season, hotels, catering services, event planning agencies have been experiencing boost in their service demand. As politicians gallivant about, canvassing for votes, they hire event planning companies to organise their pol

Of businessmen and politics

I FIND Dr. Reuben Abati’s commentary in The Guardian of March 20, 2011 very interesting and didactic. The article titled “Businessmen and the 2011 Elections” was his reaction to the editorial of Bussinessday of March 18, 2011 titled ‘Bankers’ Romance with Politicians’. The newspaper had in its editorial warned of the backlash of the unholy romance currently going on between the bankers and the politicians who are candidates in the forthcoming elections. Businessday cited the recent appointment of the movers and shakers of Nigeria’s economy particularly former and serving bankers as members of the People’s Democratic Party’s Finance and Fundraising Committee. The newspaper alerted that this is against the directive from the Central Bank of Nigeria which in its regulation of the banking scope of Activities & Ancillary Matters, No 3, released last November said: "from the date hereof, no bank shall grant or permit to subsist, any loan, donation, gifts or any form of financial a

Review of Nigeria’s 2011 Budget

The president and Commander in Chief of Nigeria’s Armed Forces, Dr Goodluck Ebele Jonathan on Wednesday, 15 December 2010 presented the 2011 Appropriation Bill to the joint sitting of National Assembly. According to the President, the 2011 Appropriation is a budget of fiscal consolidation, inclusive economic growth and employment generation. The president went further to say that the “Budget proposal is underpinned by four pillars that are drawn from our Economic Growth Strategy. These are to foster inclusive growth and job creation; optimise capital spending by rationalising recurrent expenditure and maximising Government’s revenues; accelerate the implementation of reforms to enhance the quality and efficiency of public expenditure; and reinstate greater prudence in the management of the nation’s financial resources.” While giving account of happenings in 2010, the president said “Despite global challenges, Nigeria’s economy has remained resilient as a result of this administration’s

Nigeria’s April Elections and Consolidation of Democracy

The success or otherwise of the coming fourth successive election under the Fourth Republic (1999 to date) in Nigeria depends largely on how actors and stakeholders decide to engage the political system. There is no gainsaying the fact that election is a process and not an event. Hence, the way and manner operators and regulators of the electoral system play their assigned responsibilities will largely determine if the old order will give way to democratic consolidation or the status quo of flawed elections will abide. Nigeria’s democratic institutions which have critical roles to play in the electoral process are: the political parties, the executive, the legislature, the judiciary, the media, the civil society including the electorates, the security agencies and indeed the electoral management body. These major players in the electoral process have been performing their roles; some noble, some ignoble. Aftermath of the last general elections in April 2007 which local and internationa