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Showing posts from November, 2022

Useful tips for candidates in Nigeria’s 2023 elections

  Since I started working in the development sector in 1998, I have been very passionate about the socio-economic and political emancipation of women. I have conducted several researches for women-focused non-governmental organisations such as Women’s Rights Advancement and Protection Alternative, Women Advocates Research and Documentation Centre and Nigeria Women Trust Fund to mention a few. I have equally been involved in capacity building and advocacy for these groups. It is very saddening that Nigeria has the lowest female representation in governance in Africa, if not in the world. We have only a sprinkle of women elected into national and state houses of assembly. Among the ministers, commissioners and heads of government departments and agencies, the number of women in leadership positions is very abysmal. For instance, there are only seven women in the 43-member cabinet of the President, Major General Muhammadu Buhari (retd.). The number at the state level is worse. Las...

Lessons for Nigeria from US midterm elections

  According to Wikipedia, midterm elections in the United States are the general elections that are held near the midpoint of a president’s four-year term of office on the Tuesday after the first Monday in November. The 2022 midterm polls were held on November 8, 2022. Federal offices that were up for election include all 435 seats in the United States House of Representatives and one-third of the Senate, i.e.   35 seats out of 100. In addition, 34 of the 50 U.S. states elect their governors for a four-year term during midterm elections, while Vermont and New Hampshire elect governors for a two-year term in both midterm and presidential elections. Thus, 36 governors are elected during midterm elections. Many states also elect officers to their state legislatures in midterm years. There are also elections held at the municipal level. On the ballot are many mayors, other local public offices, and a wide variety of citizen initiatives. Historically, midterm elections often see ...

The culture of election debate in Nigeria

  According to the International Growth Centre, a global research Centre, “Well-functioning democratic structures and strong political governance are central to economic development. However, a lack of information about elections in younger democracies can weaken the accountability of elected politicians and, consequently, decision-making.” Political information can be difficult to access in developing countries because of fledgling democratic structures and poor media penetration. Citizens may vote for candidates with little knowledge of their policy stances, qualifications, previous performance, or potential remit.   The IGC research in Ghana and Sierra Leone revealed that “voters showed improved awareness of specific candidates, their policies, and general political knowledge for several weeks after viewing a debate.” Furthermore, “participants reported that debates helped inform their choices at the ballot box. They were more likely to vote for candidates who shared their ...

Issues in the 2022 redesigning of Naira notes by CBN

  Introduction On Wednesday, October 26, 2022 at a media briefing the Governor of Central Bank of Nigeria, Godwin Emefiele announced the redesigning of some of the banknotes. He hinged the apex banks decision on the powers conferred on it by Section 2 (b) of the CBN Act 2007. According to Emefiele, currency management by CBN has faced a number of challenges for some time now. This include: Significant hoarding of banknotes by members of the public, with statistics showing that over 85 percent of currency in circulation are outside the vaults of commercial banks. At the end of September 2022, available data at the CBN indicate that N2.73tn out of the N3.23tn currency in circulation, was outside the vaults of Commercial Banks across the country; and supposedly held by the public. This, to my own mind, is indicative that Nigerians have not fully accepted the cashless policy of the Central Bank. Other challenges are: Worsening shortage of clean and fit banknotes with attendant nega...

Antidotes to Nigeria’s rising indebtedness

  A September 19, 2022 press release by Nigeria’s Debt Management Office put the total public debt stock, representing the domestic and external debt stocks of the Federal Government, 36 state governments and the Federal Capital Territory at N42.84tn ($103.31bn) as at June 30, 2022. This has been a source of worry for financial experts who believe that though the country’s debt to Gross Domestic Product may be relatively low and tolerable, debt to revenue ratio has been a major concern as the country has not been meeting its income projections across the economic spectrum. In order to defray the revenue shortfall, the country has persistently relied on borrowing. For instance, the proposed 2023 Budget of Fiscal Consolidation and Transition submitted to the National Assembly on October 7, 2022 came with a deficit of N10.78tn, which represents 4.78 per cent of estimated GDP and above the three per cent threshold set by the Fiscal Responsibility Act 2007. According to the President,...