Category: Article

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From Strength to Weakness: The Naira’s Journey Over the Years”

The Naira’s value has fluctuated significantly over the years. In the early 1980s, the exchange rate was favorable, with $1 equivalent to approximately ₦0.550-0.647. By 1983, the rate had improved further, with $1 worth around ₦0.724-0.894. However, from the late 1980s onwards, the Naira began to depreciate steadily.

Key Factors Contributing to the Naira’s Decline:

  • Over-reliance on Oil Exports: Nigeria’s economy has historically been heavily dependent on oil exports, making it vulnerable to fluctuations in global oil prices.
  • Lack of Diversification: The country’s failure to diversify its economy has limited its ability to generate foreign exchange through other means.
  • Poor Governance and Corruption: Weak institutions, corruption, and poor governance have hindered economic growth and development.
  • Monetary Policy Challenges: The Central Bank of Nigeria’s interventions, while aimed at stabilizing the currency, have sometimes exacerbated the problem.
  • External Debt and Financing: Nigeria’s external debt and financing challenges have put pressure on the Naira.

Current State of the Naira:

  • As of August 6, 2025, the exchange rate stands at approximately ₦1,527.69 per $1.
  • The Naira has been experiencing volatility, with the Central Bank of Nigeria intervening to defend the currency.
  • The black market rate has been higher than the official rate, reflecting the demand for foreign exchange.

Potential Solutions:

  • Diversifying the Economy: Encouraging non-oil exports and promoting economic growth through diversification.
  • Improving Governance and Institutions: Strengthening institutions and promoting good governance to attract foreign investment.
  • Monetary Policy Reforms: Implementing effective monetary policies to stabilize the currency and promote economic growth.
  • Promoting Transparency and Accountability: Enhancing transparency and accountability in governance and economic management.
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The Increments In Nigeria Level Of Corruption

Nigeria’s corruption quagmire is a persistent issue that has plagued the nation for decades, with each era leaving its mark on the nation’s psyche.

Here’s a breakdown of the corruption landscape in Nigeria:Historical Context-

Abacha Era (1993-1998): General Sani Abacha’s regime was notorious for brazen corruption, with an estimated $3-5 billion looted from the nation’s treasury.-

Babangida’s Administration (1985-1993): General Ibrahim Babangida’s regime was characterized by crony capitalism and corruption, with the “IBB Boys” amassing wealth through illicit means.- Democratic Era: Corruption continued to thrive in democratic governments, with notable scandals including the Malabu Oil scandal and diversion of funds meant for healthcare and infrastructure.

Current State of Corruption- Nigeria ranks 140 out of 180 countries on Transparency International’s Corruption Perceptions Index (CPI) with a score of 26 out of 100.- Weak institutions, lack of accountability, and poor governance perpetuate corruption.- Specific cases of corruption include:- Oil Theft and Subsidy Fraud: Nigeria loses significant revenue due to rampant oil theft and fuel subsidy fraud.- Judicial Corruption: 61% of Nigerian households believe judges are likely to accept bribes.- Bribery and Extortion: Many citizens and businesses face corruption in daily transactions.- Embezzlement of PublicNigeria’s corruption quagmire is a persistent issue that has plagued the nation for decades, with each era leaving its mark on the nation’s psyche. Here’s a breakdown of the corruption landscape in Nigeria:

Historical Context

  • Abacha Era (1993-1998): General Sani Abacha’s regime was notorious for brazen corruption, with an estimated $3-5 billion looted from the nation’s treasury.
  • Babangida’s Administration (1985-1993): General Ibrahim Babangida’s regime was characterized by crony capitalism and corruption, with the “IBB Boys” amassing wealth through illicit means.
  • Democratic Era: Corruption continued to thrive in democratic governments, with notable scandals including the Malabu Oil scandal and diversion of funds meant for healthcare and infrastructure.

Current State of Corruption

  • Nigeria ranks 140 out of 180 countries on Transparency International’s Corruption Perceptions Index (CPI) with a score of 26 out of 100.
  • Weak institutions, lack of accountability, and poor governance perpetuate corruption.
  • Specific cases of corruption include:
  • Oil Theft and Subsidy Fraud: Nigeria loses significant revenue due to rampant oil theft and fuel subsidy fraud.
  • Judicial Corruption: 61% of Nigerian households believe judges are likely to accept bribes.
  • Bribery and Extortion: Many citizens and businesses face corruption in daily transactions.
  • Embezzlement of Public Funds: Cases of misappropriation continue to affect governance.

The Way Forward

Public Participation: Encouraging citizens to hold government officials accountable. Funds: Cases of misappropriation continue to affect governance.The Way Forward- Institutional Reforms: Strengthening anti-corruption agencies and improving transparency in government.- Accountability Mechanisms: Prosecuting corruption cases regardless of perpetrators’ status or position.- Promoting Transparency: Implementing robust anti-corruption frameworks and ensuring public access to government contracts and budgets.- Judicial Reforms: Strengthening judicial integrity and implementing whistleblower protections.- Public Participation: Encouraging citizens to hold government officials accountable.

Institutional Reforms: Strengthening anti-corruption agencies and improving transparency in government.

Accountability Mechanisms: Prosecuting corruption cases regardless of perpetrators’ status or position.

Promoting Transparency: Implementing robust anti-corruption frameworks and ensuring public access to government contracts and budgets.

Judicial Reforms: Strengthening judicial integrity and implementing whistleblower protections.

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They Have Finished Nigeria

Sowore Slams Government Over N712 Billion Airport Terminal RehabOmoyele Sowore, a Nigerian human rights activist and founder of Sahara Reporters, has expressed outrage over the approval of N712.26 billion for the rehabilitation of the Lagos Airport terminal. Sowore stated, “They have finished Nigeria,” suggesting that the amount was excessive and the project’s execution could be marred by corruption.Sowore’s criticism is not limited to infrastructure projects.

He has also been vocal about governance issues, zoning of the presidency, and the need for competent leadership. In an interview with Channels Television, Sowore argued that Nigeria should focus on finding a capable president, regardless of their region, rather than adhering to a rotational presidency system. He believes this approach would allow the most qualified individuals to run for office and be judged on their merits.

Some of Sowore’s notable statements and actions include:- Critique of Rotational Presidency: Sowore faults the rotational presidency system, advocating for a more merit-based approach to leadership.- Call for Open Elections: He believes every Nigerian should have the opportunity to run for office, with voters deciding based on character, experience, and vision.- Activism and Protests: Sowore has been involved in various protests, including the #EndBadGovernance protests, which led to his detention by the Department of State Services (DSS) in September 2024.- Detention and Release: Sowore was detained by Nigerian Immigration upon arrival at the Murtala Muhammed International Airport in Lagos but was later released after a brief interrogation.

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Nigeria’s Naira: Navigating the Challenges of Foreign Exchange

The Naira has been fluctuating against the US dollar due to various economic factors.

Here are some key points:- Naira Appreciation: The Naira appreciated against the dollar at the official foreign exchange market, rising to N1,531.95 from N1,533.74 the previous week, showing a strengthening of N1.79.- Black Market Rate: In contrast, the Naira remained stable at N1560 per dollar in the black market, maintaining the same exchange rate as the previous week.- External Reserves: Nigeria’s external reserves have been increasing, reaching $39.54 billion as of August 1, 2025, up from $39.36 billion on July 30.- Import Duty Exchange Rate: The Central Bank of Nigeria increased the import duty exchange rate to N1618.73 due to foreign exchange fluctuations, rising by N18 from the previous rate of N1600.32.

Economic Factors: The Naira’s value is influenced by factors such as: – Dollar Scarcity: The dollar’s growing scarcity and demand in Nigeria contribute to the Naira’s fluctuation. –

Trade Imbalance: Nigeria’s trade imbalance, where imports exceed exports, puts pressure on the Naira’s value.

– Inflation and Policy: Structural issues like rampant inflation, political instability, and inconsistent economic policies also impact the Naira’s value.These factors highlight the complexities of Nigeria’s economy and the challenges faced by the Naira in the foreign exchange market.

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The Importance of IT in the 21st Century

In today’s fast-paced, technology-driven world, Information Technology (IT) plays a vital role in driving business success, innovation, and economic growth. Here are some reasons why IT is crucial in the 21st century:

  1. Global Connectivity: IT enables global communication, collaboration, and connectivity, bridging geographical gaps and fostering international relationships.
  2. Business Efficiency: IT streamlines processes, automates tasks, and enhances productivity, allowing businesses to operate more efficiently and effectively.
  3. Innovation and Competitiveness: IT drives innovation, enabling businesses to develop new products, services, and business models, and stay competitive in a rapidly changing market.
  4. Economic Growth: IT contributes to economic growth by creating new industries, jobs, and opportunities, and improving overall productivity.
  5. Improved Customer Experience: IT enables businesses to provide personalized, responsive, and efficient services, enhancing customer satisfaction and loyalty.
  6. Data-Driven Decision Making: IT provides businesses with valuable insights and data, enabling informed decision-making and strategic planning.
  7. Cybersecurity: IT helps protect businesses and individuals from cyber threats, ensuring the security and integrity of sensitive information.

In summary, IT is essential in the 21st century because it drives business success, innovation, and economic growth, while also improving customer experience, efficiency, and decision-making.

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The Key to Success: Skills Over Scrolls

The Key to Success: Skills Over Scrolls

As we often look to the stories of successful entrepreneurs like Steve Jobs, Bill Gates, and Mark Zuckerberg, who dropped out of college to pursue their passions, it’s easy to wonder if formal education is truly necessary for success. However, it’s essential to remember that these cases are exceptions rather than the rule.

What Works for the Few May Not Work for the Many

While some highly successful entrepreneurs have achieved greatness without completing their formal education, many others have benefited greatly from the skills, knowledge, and networking opportunities that formal education provides.

The Real Key to Success: Skills Development

Regardless of educational background, the key to success lies in developing valuable skills that can be applied in real-world situations. Here are some skills that can benefit entrepreneurs and individuals alike:

  • Problem-solving: The ability to analyze problems and come up with creative solutions.
  • Communication: Effective communication is crucial for building relationships, negotiating, and leading teams.
  • Adaptability: The ability to adapt to changing circumstances and pivot when necessary.
  • Resilience: The capacity to bounce back from failures and keep moving forward.
  • Creativity: The ability to think outside the box and come up with innovative solutions.

Advice for Youth and Parents

Rather than focusing solely on academic achievement, it’s essential to prioritize skills development. Here are some tips:

  • Encourage hands-on learning: Engage in projects, internships, and extracurricular activities that develop practical skills.
  • Foster creativity: Encourage curiosity, experimentation, and creativity.
  • Develop soft skills: Focus on building strong communication, teamwork, and problem-solving skills.
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It’s Time to Fight Against Imposition of Candidates – By Comrade Sulaiman A. O.

It’s Time to Fight Against Imposition of Candidates
By Comrade Sulaiman A. O.

Nigeria’s democratic system is at a crossroads, and it’s imperative that we demand better representation and hold our leaders accountable. The current trend of imposing candidates on the people is a recipe for disaster, leading to individuals who are more loyal to their appointers than to the masses they serve.

The Problem with Imposed Candidates

Imposed candidates often lack the mandate of the people, prioritizing the interests of their leaders over those of their constituents. This can result in policies that benefit the few at the expense of the many. In Kwara State, for instance, imposed candidates have undermined the will of the people, highlighting the need for a more democratic and inclusive system of governance.

The Power of Electoral Mandate

When leaders are elected by the people, they are more likely to be accountable and responsive to the needs of their constituents. The electoral mandate gives them the legitimacy and authority to make decisions that benefit the greater good. In contrast, imposed candidates often lack this mandate, prioritizing the interests of their appointers.

A Call to Action

It’s time for us to take a stand and demand change. We must reject any party that imposes candidates on the people and instead support those that allow the democratic process to unfold. By electing capable leaders who are accountable to the people, we can build a brighter future for ourselves and future generations.

Personal Experience in Kwara State

In Kwara State, we have seen firsthand the impact of imposed candidates on the democratic process. The lack of accountability and responsiveness to the people’s needs has led to widespread disillusionment with the political system. However, we have also seen the power of grassroots movements and community-led initiatives that demand better leadership and representation. These experiences have shown us that change is possible when people come together to demand a better future.

Conclusion

The fate of our democracy rests in our hands. We must be vigilant and proactive in demanding better leadership and representation. By electing capable leaders who are accountable to the people, we can build a brighter future for ourselves and future generations. Let’s join forces to fight against the imposition of candidates and promote a more democratic and inclusive system of governance.

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YOUTH USEFULNESS AND USELESSNESS IN SOCIETY BUILDING

By Com. Sulaiman Abdulfatah O., PGF National President.

PRESIDENT’S SPEECH DELIVERED TODAY 27/12/2014

YOUTH USEFULNESS AND USELESSNESS IN SOCIETY BUILDING

The Chairman, Special guests of honor, the Royal Fathers, the Patrons and Matrons, members of the forum,Gentlemen of the press, Ladies and Gentlemen.

Permit me to emphasis first on the meaning of the word youth using the definitions in the Oxford

 dictionary:

 Here we have 3 meanings; one is denotative and others, connotative. Firstly, youth is the time of life when a person is young, especially the time when a child becomes a young adult. That’s youth is the intermediary between childhood and adulthood in life. Perhaps, one only savours this chance in life but once. And the Yoruba has a catchphrase to show the significance or dynamism of this period of life, so they call it “Igba Sango ode” – that is the period when somebody is more active and powerful in life. Yes, the emperor, Alaafin Sango who is the eponym of this age was a youth and became epitome of power in human history to the extent of that he was  deified as god-of-thunder. There is more information about him in Yorupedia.

Again, youth is the quality or state of being young. And what is young? Young means “not fully developed or experienced. In this case, a youth needs the valuable supports of the experienced or fully developed people in the society to realize his dream in life.

Perhaps, adulthood is a period or page that a youth needs to enter later through the guidance from the experienced elders/leaders. And from the Yoruba experience, “ewe a ma soro bi ewe”- that youth is characterized with inexperience of the life cult. This is where culture needs to be transmitted from the older and morally experienced generation of elders to the young generation to assimilate for the continuity of our humane cultural heritage.   

Therefore a youth needs to grow and be fully developed by the elders/leaders of today for the same would become the leaders/elders of tomorrow.

And finally, a youth is a young man as long as he is a man but young he has some sacrifice and service to render to his immediate society and humanity at large.

So youth is a period, in summary, when a child becomes a young man with is unusual craze for everything life has to offer in fortune.

Note that youth is young and initially imagines most of the fantasies of life as realities. It is common in a youth dream that to become rich is to hit a jack-port or stumble on a port-folio full of money like the one the lazy Baba Sala found in one of his dramas that later landed him into a police custody. Therefore, youth hates looking at the other side of life to survive; but ironically, life offers man some literarily incompatible pairs like”no struggle no success” “no endurance no achievement” “no pains no gains, no humility no adoration, no sacrifice, no benefit, no bitterness no sweetness just to mention but a few.

At this juncture, the society needs to decide on how to guild and guard this important gift of human creation to enhance growth and development.

To make the youth useful, the society must prepare to educate, orientate and empower them for the general wellbeing of the society in turn.

Any attempt to ignore the best ways of preparing the youth through standard education and empowerment programs, the society will be like a fowl messing up a pot of soup but ironically never realizes it is preparing itself for a cook to garnish soup. Therefore, if the society fails to make youth useful, the youth being active and dynamic will surely become useless and become a threat to the wellbeing of the general public. You know, idle hand is the devil’s workshop.

And if the youth should be ignored, the future is already dead and interned before the arrival of the messiah; the useful youth among the grotesque ones.

Therefore our campaign is to make the useful youth more useful and salvage the useless youth to rehabilitate them to effectively build a strong and progressive society or nation.

However, so far so good, in this campaign we have been able to achieve the following and we would be happy to count on your support for continuity of the service to the youth community and society at large.

1.         Vocational training and retraining of youth

2.         Youth Sports promotion

3.         Youth empowerment programs

4.         Free computer training and coaching

5.         Youth sensitization and orientation programs

6.         Scholarship

7.         Production of leadership/personalities magazine and award

8.         Arrangement of free meal during Ramadan fasting and other festivals

9.         Organization of sermons and free distribution of religion Books i.e Alquran and Dalaylu

10.       Distribution of education materials e.g. exercise books, chalks, pen and dusters to some basic Schools

11.       Production of Packaged Gari to boost food production in the country.                                      

Thanks, God bless you. God bless KwaraState

 and God bless Nigeria

.

PGF! PROGRESS! BUILD THE YOUTH! BUILD THE NATION!

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How Nigerians Contribute to Politicians’ Misuse of Public Funds

The Enabling Environment: How Nigerians Unintentionally Support Politicians’ Corruption

By Comr. Sulaiman Abdulfatai

Nigeria’s political landscape has long been plagued by corruption, with politicians often accused of looting public funds with impunity. While politicians bear the primary responsibility for these actions, it’s essential to examine the role Nigerians play in enabling this behavior.

Electoral Apathy and Lack of Accountability

Many Nigerians often prioritize personal interests over national concerns, failing to hold elected officials accountable for their actions. This apathy creates an environment where politicians feel emboldened to engage in corrupt practices without fear of consequences.

Vote Buying and Patronage

The widespread practice of vote buying and patronage in Nigerian politics perpetuates corruption. By accepting bribes or promises of personal gain in exchange for votes, citizens inadvertently contribute to the corrupt system.

Tolerance for Corruption

Some Nigerians tolerate or even celebrate politicians’ corrupt activities if they benefit personally or perceive benefits for their community. This tolerance sends a signal that corrupt behavior is acceptable, further entrenching the problem.

Demanding Unnecessary Financial Support

Additionally, some Nigerians demand unnecessary financial support from politicians, expecting handouts or gifts in exchange for loyalty or support. This expectation can lead politicians to prioritize personal gain over public service, further fueling corruption.

Fabricated Stories for Financial Gain

Some individuals fabricate stories or lies to extract money from politicians or those who work for them. This behavior not only diverts resources meant for public good but also contributes to the corrupt system.

Lack of Civic Engagement

Limited civic engagement and lack of participation in public discourse allow corrupt politicians to operate with relative impunity. When citizens don’t engage in meaningful discussions about governance and accountability, politicians may feel less inclined to act with integrity.

Cultural and Social Pressures

In some cases, cultural and social pressures can lead Nigerians to prioritize loyalty to politicians or parties over accountability and good governance. This can create a culture where corruption is normalized and whistleblowers are ostracized.

Breaking the Cycle

To break this cycle, Nigerians must demand better governance and hold politicians accountable for their actions. This requires:

  1. Increased civic engagement: Citizens must participate in public discourse and demand transparency and accountability.
  2. Electoral reform: Electoral processes must be reformed to prevent vote buying and ensure credible elections.
  3. Whistleblower protection: Mechanisms must be put in place to protect whistleblowers and encourage reporting of corrupt activities.
  4. Cultural shift: Nigerians must prioritize accountability and good governance over personal or community interests.
  5. Smart vote strategy: Even if a politician is trying to buy your vote, collect his money and vote for the right candidate.

By working together, Nigerians can create an environment where politicians are incentivized to act with integrity and serve the public interest.