Lagos Metropolitan Monday 14 August 2023

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On Thursday last week, the Nigerian Naira experienced a significant drop to an unprecedented low against the US dollar in the unregulated market, as reported by currency traders nationwide In Lagos, traders near the Ikeja area noted an exchange rate of N935 00 per dollar, while in Abuja, dealers reported trading at N950 00 per $1, a contrast to the previous session’s rates of N915 and N920 00 on Wednesday

Similarly, in Uyo, currency traders observed a substantial surge in demand, leading to exchange rates of N938 00 and N940 00 per dollar on

Thursday

However, a slight increase in the local currency’s value against the dollar was observed on the Investors and Exporters (I&E) platform on Thursday, according to market data published on the FMDQ website

Meanwhile, official market data posted on Thursday

indicated that the Naira closed at N781 34 compared to N782 38 per $1 recorded on the previous Wednesday This implies a slight appreciation of 0 13 per cent from the earlier session

As of 2023, Nigeria’s economy is grappling with unprecedented challenges The fiscal deficit has surged to approximately ₦11 78 trillion, equivalent to 4 78 per cent of the Gross Domestic Product1 Inflation has spiked to 21 47 per cent, while the max-

imum lending rate has reached 30 73 per cent The unemployment rate, which surpassed 10 per cent in 2021, remains a pressing concern Additionally, the poverty index is alarmingly high at 0 257, signifying the multidimensional impoverishment of around 133 million individuals After the recession induced by the pandemic in 2020, Nigeria’s economic growth witnessed a recovery, yet the overall macroeconomic stability has waned

The relentless inflationary pressures are driving a considerable number of Nigerians into poverty The outlook of the Nigerian economy is grim But this is not to say that the current fiscal and monetary actions by the new regime are not working They are laudable but they have yet to kick in Nonetheless, the elephant in the room is a huge debt profile which is sitting pretty in the nation’s accounting books

Recent actions of the Central Bank of Nigeria (CBN) have brought the institution into the limelight, sparking intense scrutiny over its decision to extend significant loans to the Federal Government (FG) through its ‘Ways and Means’ policy The scale of these loans, which had accumulated over time and reached a staggering N23 18 trillion by 2022, has ignited a wave of concerns encompassing both the intricate workings of the Nigerian

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A life forged on borders and belonging - Pg.4 | Tinubu discovers ice in Macondo - Pg. 8

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For enquiries, call +234-803-564-6125

economy and the legal framework surrounding such transactions This unfolding situation carries profound implications for the everyday lives of Nigerians, transcending the realm of finance to encompass vital aspects of economic stability, accountability, and the roles and responsibilities of crucial regulatory bodies

Unprecedented Loan Disbursement: Tracing the Accumulated Burden

In the intricate weaving of Nigeria’s financial narrative, a startling revelation has come to light - the Central Bank of Nigeria (CBN) stands accused of extending an extraordinary loan amounting to N23 18 trillion to the Federal Government (FG) during the year 2022 However, delving into the annals of time reveals that this colossal loan is not a product of a single instance but rather a cumulative burden that has been steadily mounting, particularly between the years 2015 and 2023

The timeline of loan accumulation, particularly within the span from 2015 to 2023, serves as a poignant reminder that this unprecedented disbursement did not materialise in isolation Instead, it reflects a series of financial transactions that have been unfolding over several years, gradually contributing to the staggering sum we witness today

Economic Implications for Nigerians: Naira Devaluation and Real-life Ramifications

Amid the complex interplay of financial mechanisms, the surging wave of loans from the Central Bank of Nigeria (CBN) has stirred a hornet’s nest of apprehensions, particularly casting a foreboding shadow over the Nigerian Naira The CBN’s employment of foreign reserves to anchor the currency’s stability, while a strategic move,

yielded unintended consequences, most notably the notable devaluation of the Naira The repercussions of this devaluation ripple through the lives of ordinary Nigerians, intertwining with their daily economic realities in a multitude of ways

Even at the time, the Naira’s exchange rate plummeted to an alarming $1:N469, with the economic landscape of Nigeria undergoing perceptible transformation A devaluation of the national currency has a domino effect on the cost of imported goods, triggering a palpable increase in prices across the spectrum From essential commodities to luxury items, the rise in costs reverberates through the market, impacting the budgets and purchasing choices of households across the nation

Moreover, a devalued Naira acts as a catalyst for inflation, injecting uncertainty into the economy’s veins

The cost-push inflation mechanism comes into play, wherein the increased cost of production due to higher import prices gets transferred to the end consumer This phenomenon tightens the squeeze on disposable incomes, making it more arduous for Nigerians to maintain their accustomed standard of living

Legal and Regulatory Questions: Scrutinising Adherence to Guidelines

The controversy surrounding the Central Bank of Nigeria’s (CBN) extensive loans to the Federal Government (FG) not only touched on economic concerns but also raised substantial legal and regulatory questions These loans, reaching a staggering N23 18 trillion in 2022, sparked discussions about their alignment with the established guidelines and statutory provisions, specifically Section 38 of the CBN Act

Section 38 of the CBN Act

stipulates that the Bank can grant temporary advances to the Federal Government in times of temporary budget revenue deficiency, albeit with certain constraints The advances are not to exceed five per cent of the previous year’s actual revenue of the Federal Government This provision is a safeguard intended to prevent unchecked financial engagement between the CBN and the government, promoting financial prudence and adherence to fiscal responsibility.

The CBN’s loan disbursements, when examined through the lens of Section 38, appear to raise red flags The magnitude of the loans provided to the FG far surpasses the stipulated limit, creating a discrepancy that prompts a critical examination of due process and regulatory adherence The loans’ volume, accumulated over time with a significant portion concentrated between 2015 and 2023, adds weight to the argument that they potentially infringe on the legal parameters outlined in the CBN Act

Debt Repayment and Long-Term Impact: Navigating a Fiscal Dilemma

The decision by the Nigerian Senate to convert the substantial N23 72 trillion loans into a 40-year bond, carrying an interest rate of nine per cent, ignited a vigorous discourse surrounding its implications and long-term consequences This move, though aiming to address the pressing challenge of immediate financial strain, opened the door to a complex web of considerations that delve into the heart of Nigeria’s economic stability and future prospects

The decision to convert the loans into long-term bonds reflects a strategic attempt to manage the immediate burden of debt servicing By extending the repayment period over four decades, the Senate aimed to ease the strain on the govern-

ment’s immediate fiscal obligations, providing a reprieve from the weight of servicing such an unprecedented debt in the short term This approach, in principle, is intended to create breathing room for the government’s financial operations and mitigate the potential risk of default

Accountability and Oversight: Enhancing Regulatory Frameworks for Transparent Financial Governance

The unfolding controversy surrounding the Central Bank of Nigeria’s (CBN) substantial loans to the Federal Government (FG) has brought to the forefront critical discussions about accountability, oversight, and the robustness of regulatory frameworks within the nation’s financial landscape

This dual-section exploration delves into the multifaceted dimensions of these discussions, shedding light on both the Senate’s role in ensuring transparent fiscal practices and the imperative of reinforcing regulatory mechanisms guided by established laws and guidelines

The Senate, as a custodian of the nation’s financial integrity, has faced scrutiny for its response to the CBN loans controversy While the absence of immediate sanctions has prompted questions, it is essential to understand that the Senate’s oversight responsibilities encompass a spectrum of considerations beyond punitive measures The Senate’s duty transcends sanctioning alone; it entails in-depth investigations, truth uncovering, and advocacy for transparency This comprehensive approach acknowledges the intricate nature of the situation and seeks to balance accountability with the need to maintain economic stability

Simultaneously, the controversy underscores the paramount significance of

reinforcing transparent and accountable regulatory mechanisms The regulatory bodies responsible for financial governance, such as the National Assembly and the Debt Management Office (DMO), are pivotal in ensuring adherence to established laws and guidelines The National Assembly’s constitutional mandate to oversee public funds’ management aligns with the Fiscal Responsibility Act of 2007, which empowers it to approve government borrowing and monitor its utilization

Similarly, the DMO’s role, guided by the Debt Management Office Establishment Act of 2003, is crucial in ensuring strategic debt management and adherence to legal provisions The collaboration between these regulatory bodies, buttressed by their respective legal frameworks, is vital for upholding fiscal prudence, transparency, and responsible financial governance

Potential Legal Challenges and Future Actions: Navigating the Legal Landscape

Amidst the ongoing controversy surrounding the Central Bank of Nigeria’s (CBN) loans to the Federal Government (FG), a cloud of uncertainty looms, giving rise to legitimate concerns regarding potential legal challenges The scepticism

surrounding the legality of loan disbursements and the extent of adherence to due process has opened the door for a possible avenue of legal recourse by concerned citizens This development sheds light on the critical significance of upholding established guidelines and legal frameworks in financial transactions

At the heart of these concerns lie the provisions of the CBN Act of 2007, which governs the operations of the Central Bank Section 38 of the Act provides insight into the limitations on loans that the CBN can extend to the Federal Government It states:

“Notwithstanding the provisions of section 34 (d) of this Act, the Bank may grant temporary advances to the Federal Government in respect of temporary deficiency of budget revenue at such rate of interest as the Bank may determine

The total amount of such advances outstanding shall not at any time exceed five per cent of the previous year’s actual revenue of the Federal Government ”

This section serves as a cornerstone for evaluating the legality of the loans, with emphasis on the stipulated ceiling of five percent of the previous year’s actual revenue

The Fiscal Responsibility Act of 2007 is another crucial legal framework that shapes

Continued on page 14

Z Zaakkees s M Mdda a A A L Liiffe e F Foorrggeed d o on n B Boorrddeerrs s aannd d B Beelloonnggiinng g

The life of Zakes

Mda, the celebrated South African artist, composer, writer, and activist, is a testament to the power of resilience, belonging, and the indomitable spirit of a man born into a world overshadowed by apartheid In this riveting personality feature article, we delve into the extraordinary journey of this uncommonly gifted individual

From his childhood surrounded by legendary freedom fighters like Nelson Mandela, his first wife Eve-

lyn Mase, Walter and Albertina Sisulu, Oliver Tambo, and other antiapartheid activists, to his own pursuit of artistic excellence and political activism, Mda's story is one that captures the essence of a nation's struggle and the universalquest foridentity

Born in the heart of apartheid-era South Africa, Zakes Mda's early life was deeply intertwined with the nation's tumultuous history

Growing up in Herschel, a small town on the border, Mda was exposed to the per-

vasive racial inequalities that defined the era As he recalls from our interview, "It was part of my political life as well It was part of, so there was never a time when I just saw myself as, like, into otherartists "

However, Mda's upbringing was not confined to the shadows cast by apartheid His artistic talents emerged with a brilliance that transcended the boundaries of his environment He played the flute, composed music, and even contributed political cartoons to established

journals Reflecting on his early creative pursuits, Mda remarks, "To me, all those things, it's just art You know, I wake up one day, I feel like painting a picture I paint a picture I wake up one day, I feel like composingasong I do exactly that "

Despite the suffocating grip of apartheid, Mda found solace in Lesotho, where his family sought refuge Here, he continued to nurture his artistic gifts and discovered a broader perspective that would shape his identity "I was growing up in that envi-

ronment," Mda reminisces "In other words, I was not even aware that there was anything unique about being involved in all those different arts "

Throughout his journey, art became a vehicle of both personal expression and political resistance Mda's creations served as mirrors reflecting the injustices of his time and his unwavering dedication to change As he states, "In our art, we portray the political, whether we like it or not, whether we intendto ornot "

Birth amidst Apartheid

Zakes Mda's remarkable journey begins in the heart of Herschel, South Africa, a town gripped by the oppressive clutches of apartheid

Born into this turbulent era, Mda's life story is intertwined with the very fabric of his nation's struggle for equality and justice Reflecting on his early years, Mda shares, "Art has always been part of my life, you know, right from the beginning. It was part of my father's life as well, and my brothers and

so on "

The rise of the Nationalist Party to power marked a pivotal turning point in South Africa's history With it came the institutionalization of white supremacy as law, casting a dark shadow over every aspect of life Mda vividly recalls, "There's no line of demarcation between life and politics, you know, life and art In other words, politics is about life It's about life "

Mda's roots run deep within the struggle against apartheid, courtesy of his father, AP Mda, a prominent figure in the anti-apartheid movement As he shares, "My struggles were not that much compared to the struggles of other artists and so on, especially because I've always had my parents, you know, who were professional people and were working even when, you know, I, you know, um, I pressed out of the family and was, um, was looking after myself "

Amidst the turmoil, young Mda formed friendships with individuals who would go on to shape the destiny of a nation His childhood bonds with future luminaries such as Nelson Mandela, Walter Sisulu, and Oliver Tambo foreshadowed a life marked by collective aspiration

These friendships, as Mda recounts, were characterized by a shared desire for justice: "We were prepared for that because we knew that we were suffering not just for ourselves We were suffering for freedom "

Nurturing Artistic Gifts

Amidst the shadows of apartheid, Zakes Mda's artistic brilliance began to emerge, casting a radiant light on his early years His innate talents, particularly in the realms of music and visual arts, were evident from a tender age Mda reflects, "It was all intertwined I lived art, you know, and I lived politics I lived The political itself was artistic "

Mda's artistic roots ran deep, nurtured by a family legacy steeped in creativity His father's prowess in painting and his musical pursuits left an indelible mark on young Zakes "My father was a very gifted painter himself,

but he never did that as a profession," Mda reminisces, "When we were sitting at the table, then he would be sketching something He became reputed for, you know, which means that the

The young Zakes Mda experienced a profound sense of displacement, a heartwrenching departure from the place he had always known He opens up, "You know, it was just part of who I was It was all intertwined I lived art, you know, and I lived politics." Leaving his homeland meant not only physical separation but also a rupture in the fabric of his identity, as he grappled with the emotional toll of uprooting

This fluidity in perspective and approach mirrors his broader journey of belonging Mda's canvas extends beyond familial bonds; it encompasses an affinity for his homeland, an allegiance to Pan-African ideals, and a recognition of shared humanity. He explains, "What I mean is there's no line of demarcation between life and politics, you know, life and art In other words, um, politics is about life It's about life "

brush an instrument of truth, and the pen a force for justice His creations resonated not just in galleries and concert halls, but also in the hearts of those yearning for liberation

Crafting a Legacy

artistic courage, unapologetic commentary, and unyielding advocacy for justice

His creations serve as bridges connecting the past, present, and future, uniting generations in a shared quest for truth and transformation

painting portrays you exactly as you are "

Music became an integral part of Mda's life, with the flute becoming his chosen instrument His passion for music extended beyond performance, as he ventured into the realm of composition. "I feel like composing a song I do exactly that," Mda states matter-of-factly, highlighting the fluidity with which his artistic expressions flowed

However, the artistic tapestry of Mda's upbringing was interwoven with the threads of politics The boundary between art and activism was porous, reflecting the realities of a nation in turmoil Mda reflects, "In our art, we portray the political, whether we like it or not We used poetry We used theater We used music to share insights about the nature of our oppression, to rally people to fight against that oppression "

Exile to Lesotho

As the grip of apartheid tightened, Zakes Mda's life took an abrupt turn, marked by a forced migration to Lesotho in search of sanctuary This chapter of his journey reflects the agonizing choices that many anti-apartheid activists were compelled to make, trading the familiarity of home for the uncertainty of exile Mda recalls, "There's always a family You always know that when things are really, really bad there's somebody somewhere in the background there who would not watch you and see you starve to death and do nothing about it "

Yet, within the heartache of exile, there lay the seeds of transformation Lesotho offered both solace and new possibilities Mda reflects on this paradox, "It just depends on those individuals This was a term that was given to the new black elite after apartheid Many of them became overnight millionaires, you know, getting contracts from the government through what was known as black economic empowerment "

Lesotho's sheltering embrace broadened Mda's horizons, exposing him to a cosmopolitan environment that enriched his perspective It became a crucible where his artistic gifts could flourish further, amidst a fusion of cultures and influences This time of exile became a tapestry of challenges and growth, as Mda navigated the uncharted terrain of a new life while carrying the weight of his heritage and aspirations

A Multi-Faceted Identity

Zakes Mda's journey is a testament to the intricate tapestry of identity, where threads of art, activism, and belonging are interwoven in a symphony of expression His artistic palette, enriched by a diversity of influences, paints a vivid picture of a man who defies singular categorisation

Through his creative ventures, Mda's sense of identity has evolved, shaped by the crucible of his experiences He recounts, "I was growing up in that environment I thought it was a natural thing to do To me, all those things, it's just art... There's nothing in me that tells me, 'No, no, but that's a different field ' For me, art is art "

Mda's exploration of belonging is not confined to geographical borders; it's an exploration of shared struggles and aspirations His creative tapestry becomes a mirror that reflects the nuanced shades of his identity –one that embraces both his individuality and his connection to a broader collective

Artistry as Political Expression:

In the crucible of apartheid's darkness, Zakes Mda's artistic talents emerged not just as expressions of creativity, but as potent tools of political resistance His brushstrokes and compositions carried within them a subversive energy, challenging the oppressive norms that sought to stifle freedom

Mda's artistic journey transcended the canvas and the musical notes, infiltrating the realm of politics As he reflects, "The art itself was political because it was part of who I was The political itself was artistic " In a landscape marred by injustice, art was his language, each stroke of his brush a rallying cry, each melody a call to arms

The boundaries between art and politics blurred, merging into a harmonious chorus of dissent The pages of his political cartoons, published in revered journals like the ANC and PAC, became platforms for incisive critique Mda notes, "We used art to mobilise people to share insights about the nature of our oppression, to rally people to fight against that oppression "

Mda's perspective offers a profound understanding of art's profound resonance as a catalyst for change In his hands, the flute became a weapon of harmony, the

Zakes Mda's artistic journey transcends the confines of his chosen mediums, leaving an indelible mark on both South African and global landscapes His creations, infused with the essence of his experiences and convictions, reverberate far beyond the realms of mere aesthetics

Through his political cartoons and writings, Mda wielded his artistic prowess as a mirror to society's complexities As he aptly puts it, "Our art has always been political Our art has always been a weapon for the struggle " Each stroke of his pen and brush carried the weight of a nation's aspirations and a fervent call for change

Mda's novels, like "The Heart of Redness," emerge as intricate tapestries woven

Engaging with Radicalism

Zakes Mda's journey extends beyond artistic realms, encompassing a dynamic engagement with political formations that sought to challenge the shackles of apartheid Through his participation in movements like the Pan-African Congress of Azania and the Pursuit of Conscience Party (PCP), Mda ventured into uncharted territories of activism, shaping his role as an agent of change

As Mda himself reflects, "Our struggles were like those of any other nation struggling for independence and freedom " These words encapsulate his profound understanding of the interconnectedness of struggles across the globe His involvement in these formations served as a testament to his unwavering commitment to the broader cause of justice and liberation

from threads of tradition and modernity In the words of Mda, "There is no conflict between tradition and modernity Both have the good and the bad in them " With masterful storytelling, he navigates the clash and fusion of eras, inviting readers to explore the dynamic interplay between history and progress

"The Madonna of Excelsior," a work rooted in historical events, exposes the underbelly of societal injustices Mda's exploration of the 1971 trial encapsulates a nation grappling with its demons, illuminating the shadows cast by apartheid's legacy Through his prose, he reclaims narratives, giving voice to those who were silenced by the tides of history

Mda's legacy is one of

Mda's activism was not confined to rhetoric alone; he embraced actions that pushed boundaries and tested the limits of resistance From crafting provocative slogans to participating in audacious endeavours such as attempted kidnappings and political assassinations, he embodied the spirit of daring confrontation against an oppressive regime

Amidst the fervour of activism, Mda's pragmatic approach emerges as a hallmark of his character His reflections unveil a nuanced understanding of the power dynamics within the struggle He candidly shares, "Sometimes you would resist a particular mission because it was not necessary or it was futile " This insight into his decision-making process underscores his dedication to a cause greater than any single act – a cause that demanded calculated actions for lasting impact

LagosHospitalsOfferFreeMaternalCareAmidstFuelSubsidyChanges

In a bid to alleviate the effects of fuel subsidy removal, General Hospitals and Primary Health Centres in Lagos State are currently offering free antenatal care and child delivery services to pregnant women within the state

Dr Olusegun Ogboye, the Permanent Secretary of the State Ministry of Health,

highlighted that the provision of these complimentary antenatal care and child delivery services is aimed at enhancing maternal and child health indicators in Lagos

This announcement was made by Ogboye in a statement issued by Tunbosun Ogunbanwo, Director of Public Affairs in the state’s

NigerianproducerusesAIto createnewAfrobeatsalbum

Eclipse Nkasi, a Nigerian producer, has used artificial intelligence (AI) to create a new Afrobeatsalbum

Nkasi was initially worried that AI would make his job obsolete, but he soon realised that it could also be used to createnewopportunities

He and thre OpenAI’s Ch gramme to aut lyrics and song bum, which is Echoes” They the words the into their cho struggling artis give up their passion to create music

Another AI tool was used to generate the tunes for the album, and Nkasi recorded some vocals, which were then fed into an app that transformed them into the voice of the album’s generated singer, Mya Blue Mya Blue appears in front of her audience online as acomputeranimation

Nkasi believes that AI can be used to improve production values and other technical aspects of the recording process, but he also acknowl-

Ministry of Health, in Lagos on Sunday

Ogboye made these remarks during visits to several state hospitals, including Ifako-Ijaiye and Isolo General Hospitals, to monitor compliance with the directive

Ogboye expressed his satisfaction with the level of adherence to the directive,

emphasizing the government’s recognition of the vital role of maternal and child health in society

“The governor acknowledged that the cost of antenatal care and child delivery services would contribute to the financial burden resulting from fuel subsidy removal and impact the cost of living for expectant parents This is why the governor introduced the initiative of free medical care as part of the measures to alleviate this burden ”

“I am genuinely impressed by the degree of compliance with Mr Governor’s directive on free antenatal and child delivery services, as observed during my visits to the health facilities ”

“After touring the ANC clinics, post-delivery wards, and baby nurseries at IfakoIjaiye and Isolo General Hospitals, it was truly heartwarming to see the happiness on the faces of the newborns and their parents ”

“I extend my gratitude to the hospital management and healthcare workers for swiftly implementing the necessary procedures in line with the Governor’s directive This highlights the synchronization of all government institutions in addressing the challenges posed by fuel subsidy removal and the steps taken to alleviate the hardships faced by citizens ”

Ogboye underscored that the medical intervention covers the expenses related to antenatal care, including registration and ANC clinic visits, as well as regular and cesarean section child delivery services

He added that this healthcare initiative, aimed at improving access to quality maternal and child health services, aligns with the state government’s drive towards achieving Universal Health Coverage

Furthermore, Ogboye reiterated the current administration’s commitment to providing access to quality

and efficient healthcare services The Permanent Secretary also assured the government’s determination to develop strategies aimed at reducing and ultimately eliminating maternal, child, and infant mortality rates, while also enhancing maternal and child health indicators

Dr Bamidele Mustapha, the Medical Director of Ifako-Ijaiye General Hospital, noted that around 30 registered women at the hospital have benefited from the free antenatal and child delivery services, including cesarean sections, without any cost to the recipients

On July 31, Governor Babajide Sanwo-Olu of Lagos directed general hospitals and primary healthcare centres to offer complimentary antenatal care and child delivery services to expectant mothers This decision was part of the comprehensive measures introduced to ease the impact of fuel subsidy removal on the residents of Lagos

edges that there are still some uncertainties, such as copyright, that need to be considered

“We are at the very beginning,”hesaid

Music critic Omotolani Alake agrees that AI is transforming the music industry,

but he believes that there are still some challenges to be overcome

“There are certain things that willbecomeobsolete”due to AI, he said “But it should also create opportunities for artists to reinvent themselves and do their work better and quicker ”

The use of AI in the music industry is still in its early stages, but it is clear that it has the potential to revolutionise the way music is created and consumed

• Models Naomi Campbell and Tyson Beckford visit Lagos Island Maternity Hospital during the 3rd Thisday Africa Rising Festival at the Thisday Arena on July 13, 2008 in Lagos, Nigeria (Photo by Bennett Raglin/WireImage)

• Eclipse Nkasi

Home Affairs

evening Why? Because sellers do not want to go back with all the wares they came to market with Plus, I think they've already made their profit for the day. This is the best time of daytoshoponabudget

7 Buy bulk

Can't say this enough but really, buying in bits is not economical Buy enough to

10FrugalShoppingTipsYou've ProbablyNeverHeardofBefore

Ireally cannot explain why but the first thing we did when we heard the news of the removal of fuel subsidy was to rush to the market to buy a bag of rice for starters As the value of the naira keeps depreciating, the exchange rates are nothing but a nightmare If ever there was a time to be smart with money,itisnow

I'm going to share 10 tips that have helped me during this period while shopping for groceries and other basic necessities

1 Draw upa budget

It's important to have a figure you're working with No more impulsive or unplanned spending Right now, you want to know how much you're spending on groceries, transportation, light, water, amongotherthings

If the budget for food and household bills is a realistic 50k a month, commit to it Focus on the basics and you willbefine

2.Shopwith a list

It will help you be disciplined while shopping Anything that's not on my list won't be bought To ensure you put down all you need on that list, it's advisable to start writing down items you want to shop at least a day before This will ensure you don't forget important things To avoid a situation where you forgot to buy something as small but important as salt or matches, all because you wrote that list in a hurry and rushed out of thehouse

3 Shoplocal

I don't shop in the ultramodern markets or any of those markets in the heart of

town I shop in the very local bush market or farmer's market as it's called in other climes This is because shopping at the local bush/ farmer's market cuts out the middlemen since you're buying directly from the farmers. And they pay cheaper taxes compared to the ultramodern markets What this means is you're buying at cheaperprices

4.Buy in season

A few months ago, the price of tomatoes hit the roof But before this, it was a lot cheaper. I remember a friend who sells tomatoes kept urging people to stock up cos once the rains start, prices would triple A few of us were lucky to buy several baskets and dried them So while people were complaining about the high cost of tomatoes, we were balling Buying in season helps you save

5 FoodBanks

There's this contribution people make every month and at the end of the agreed time, they're given foodstuff with the monies contributed I have a friend who has been doing this for years and what she gets when foodstuff is shared is crazy Like she gets over 120k worth of foodstuff from a contribution of less than 50k It'sagooddeal

6.NightMarket

Coupons and promo codes aren't common in these parts, but night market is. All our mothers know the real clearance or Black Friday sales happen in the market in the evenings Something that sold for #500 in the morning can sell for as low as #150 in the

last you for a month, at least Buying rice in bags is a lot cheaper than buying mudu or kongo Buying oil in gallons is much cheaper than buying frequently in bottles. It's more profit for the seller but more expensesforyou

8 Don'tshophungry

Telling from personal experience and experiences of others When you're hungry, everything will look good to buy But when you get back home, you'll weep when you start bringing out the content of your shopping bag

Shopping makes you hungry so ensure you eat a proper mealbeforegoingout

9.Buildrelationship with sellers

I have sellers for everything I need I know them and they know me And because of that relationship, I always get preferential treatment in the market most importantly, I get generous quantities of anything I'm buying from them We've had this relationshipforyears.Itpays.

10 Embrace minimalism

Sometimes, we don't need all the things we think we need I'd like to use the pot of soup as an example You don't have to have what we Nigerians call 'assorted' (all kinds of meat) in one pot. Keep it simple Even Jamie Oliver will be horrified to find meat and fish in one pot ᾒᾒ

• Joy Mfon Essien is an Entrepreneur and the CEO, of Discover Essence Media, Millionaire Woman Soapworks and Delicioso Foods Writer, TV presenter and producer, Wellness Coach andmomoftwo

Satire PresidentTinubu DiscoversIceInMacondo

By Uzor Maxim Uzoatu

Let the whole wide world join me versal celebra President Bola Ahmed who has just repeated mortalfeatofdiscoveri

The first time ice w discovered in human was in the novel One H Years of Solitude by GarciaMarquez

According to the sentence of One H Years of Solitude, “Ma later, as he faced th squad, Colonel A Buendia was to remem distant afternoon whe thertookhimtodiscov

Now that many illyoung Nigerians are making noises about cooking food endlessly in the mad bid to enter the Guinness Book of World Records, I think what really needs to be celebrated is President Tinubu who has not only now discovered the ice of fuel subsidy but has gone

aheadtobreakit!

To break the ice after just discovering it is not a mean feat at all A bolus of ice cream forPresidentTinubu!

When one clueless fellow then known as President Goodluck Ebele Jonathan dared to break the ice of fuel subsidy on January 1, 2012, by putting the subsidy-less fuel price at 141 Naira, all hell broke loose,touseanoldcliché

Jonathan’s very unpopular New Year “gift” sparked off spontaneous anti-government demonstrations the very next day,thatis,onJanuary2,2012

The heart of the matter today is that all the erstwhile activists, fire-eating journalists and unrepentant progressives who rioted back then are now hailing this latter-day discovery and breaking of the ice of fuelsubsidybyTinubu

Yes, Tinubu has done what Jonathan attempted to do, but there are no protests in the streets which makes me believe that we are no longer in NigeriabutinMacondo!

The hapless Jonathan was gifted with the “Occupy Nigeria” riots as many protesters marched on the streets with placardsandbonfires

A melting pot of the struggle against Jonathan was the Gani Fawehinmi Square in Ojota, Lagos, when for a week, from sunup to sundown, Nigeria’s self-advertised revolutionaries converged there in

the solidarity of telling truth to power

In the new dispensation of President Tinubu, the progressive revolutionaries have tattooed their tribal marks in the shape and size of that of Macondo where the discovery of

ice always meets with tumul tuousapplause

Jonathan was slated because the cost of everything such as transport, housing, school fees, food etc stood to increase unlike in Macondo where things change and re-

mainthesame

The common man would not have been able to survive Jonathan’s onslaught but in our new Macondo, the people can always understand and survive by being fed on the high cost of the ice of Washington Consensus Democracy ve of the protests an regime

vernment us quo and old at the Naira per nger dealMacondo, as high as nd people rumbe to hout anyto Nigerinized fight

emoval in

2012 to its arranged acceptance in 2023 is the magical realism of transition from NigeriatoMacondo

Nigerians are like the eponymous Rip Van Winkle character of Washington Irving’s short story who drank a

strong brew and slept for all of 20yearsonlytoawakentoatotally changed world in which 700 Naira fuel is preferable to 141Nairafuel

Nobody now wants to remember that after poor Jonathan was forced to reduce the fuel price to 97 Naira he in the course of time eventually reducedthepriceto87Naira

Having successfully transited from Nigeria to Macondo like Colonel Aureliano Buedia who followed his father to discover ice, Nigerians of the new Macondo era earnestly ask for higher hikes in fuel price and electricitytariff!

As distinguished members of the idle rich class, these transfigured Nigerians operating out of Macondo cannot have enough of anti-masses policies!

In keeping with the brave new world of the discovery of ice by the great leader of the country now renamed Macondo, let’s give the last word to the conclusion of the novel One Hundred Years of Solitude “because races condemned to one hundred years of solitude did not have a secondopportunityonearth ”

"In keeping with the brave new world of the discovery of ice by the great leader of the country now renamed Macondo, let’s give the last word to the conclusion of the novel One Hundred Years of Solitude 'because races condemned to one hundred years of solitude did not have a second opportunity on earth.'"

CLASSIFIEDS

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ePassionateIdeologyofLove

style of writing in lower case with James Eze On the Nigerian front, James Ngwu Eze’s goosebumps makes one to recall NiyiOsundare’s 2006 collection Tender Moments: Love Poems

By Uzor Maxim Uzoatu

James Ngwu Eze in goosebumps is the real deal, a poet well-armed with consummate metaphors, music and metier to go the distance in poetry In the 50 love poems that make up goosebumps, James Ngwu Eze offers a passionate ideology of love as the fulcrum of life and living Reading the love poems packaged in goosebumps, I’m moved to share company with the renowned love poets of the canon such as John Keats, John Donne, Lord Byron, Shelley, and e e cummings who incidentally shares the

Shakespeare writes in Twelfth Night: “If music be the food of love, play on ” Music and memory are the compelling ingredients of James Ngwu Eze’s love poems Incidentally, one of the poems in goosebumps“hourglass” has already been set to music Let me just read out the first stanza as my voice is too rowdy for the lofty music therein: hourglass, you stood in magic soaking up glances from smitten hearts you were the subject of unresolved battles the mystery of unoccupied castles

The dreamscape of discovery that James Ngwu Eze crafts

with the musicality of his poetry somewhat reprises the lifework of the revolutionary musician Bob Marley who is posited as doing protest music when in fact the Jamaican legend wrote more love songs There is the dimension of Bob Dylan being celebrated for his music only to end up winning the Nobel Prize in Literature Making meaning of the sound of James Ngwu Eze in goosebumps calls for comparative synergies

Where I strongly disagree with James Ngwu Eze is in his unwanted advice in trying to segregate how one should enjoy the seamless flow of his goosebumps In his Introduction to goosebumps, James Ngwu Eze writes: “Divided into serenade, desire, besotted, heartache and songs, goosebumpswhimsically splits love apart and delicately re-assem-

Warrior'sOdysseyUnveiled

feeling, each poem a heightening of experience that leaves goosebumps all over the skin ”

bles it back into a magnificent orchestra in which each instrument floats swimmingly in the power of its own sublimity to deliver a searing song that is as sensual as heartrending

Each movement in the collection reveals a new artery of

'JagunJagun'-ACinematicJourneyintoYorubaValourandMystique

Nollywood, one of the world's most active filmmaking industries, churns out hundreds, sometimes thousands, of films each year from the West African country These films are produced in both English and non-English languages “JagunJagun,” an indigenous war epic, exemplifies the vibrancy of Yoruba-language cinema a subset of Nollywood rooted in Nigeria's Western region It's now available on Netflix

“JagunJagun” is a robust blockbuster, showcasing impressive production values, stunning cinematography, and a talented cast The story revolves around Gbotija (Adedimeji Lateef), a young man who manages to act despite a broken leg

The film commences with Gbotija enrolling in a men's training school led by warlord Ogundiji (Femi Adebayo), who is not only a Yoruba acting legend but also the film's producer The school caters to men aspiring to master combat skills in order to defend their villages

Gbotija, like many others,

does not come from a lineage of warriors However, driven by a desire for vengeance after witnessing his father's brutal murder during a vicious attack in his youth, he is determined to seek retribution But the plot thickens as he falls in love with Kitan (Bukunmi Oluwashina), a woman he aims to marry, and begins to question Ogundiji's motives In turn, Ogundiji starts to perceive Gbotija as a potential threat, adding layers of complexity to the storyline

“JagunJagun” takes the audience on an emotional rollercoaster, navigating through suffering and solace, bloodshed and heartbreak The film unflinchingly confronts the grim aftermath of conflict and power struggles, highlighting the devastating impact on characters In its opening moments, a prince is tragically shot dead in front of his family

Throughout the film, the term “JagunJagun” echoes a Yoruba term meaning “warrior ” Often shouted by Ogundiji, it is met with the response, “We fight with charms and our sweat,” from

The concept of “charms” introduces a mystical dimension, where certain warriors become bulletproof through enchantment Meanwhile, the protagonist, Gbotija, possesses a unique bond with trees, able to command them This mystical element, distinct from Western narratives, anchors the captivating storytelling in Yoruba culture

“JagunJagun” offers a compelling and poignant viewing experience While unfamiliar viewers might encounter moments of confusion, this is acceptable; it's perfectly fine to engage with films not tailored to one's background The film employs cultural idioms, imparts wisdom, showcases choices made, and explores their interpretations by various characters, resulting in a

Now I ask: Who gave James Ngwu Eze the audacity to whimsically split love? I am using all the emphasis at my command to stress that goosebumps must be enjoyed as one seamless whole devoid of divisions Through his deft deployment of words, James

beloved, you are the razor that cuts through/my nightmares to wake me to happy memories In the poem “pentecost” we are served signs and wonders thusly: i am your sign/and you are my wonder Even a deadly pandemic offers lines of beauty as in the poem “love in time of corona” James Ngwu Eze delivers: i want to inhale your breath tonight/through the

counter It provides an opportunity to engage with media originating from a foreign country, culture, or community, and critically engages with the film's scathing critique of the remnants of imperialism

Beyond being a captivating period war epic, “JagunJagun” holds intrinsic value as an action-infused response to the long-standing history of white imperialism, which has often obscured cultures like the Yoruba The movie's unapologetic brutality unfolds over 2 hours and 14 minutes, making it unsuitable for the faint-hearted However, for enthusiasts of the war epic genre seeking insight into its portrayal within an alternate cultural context, “JagunJagun” stands as a worthy contender for exploration

Ngwu Eze can make even heartache orgasmic

It is incumbent on me to share the gems of goosebumps oss the pages because great ets over the ages are duly ebrated through their ndout lines For instance, en we talk of Christopher igbo, we remember the es: When you have finished/ d done up my stitches/Wake near the altar/and this em will be finished James Ngwu Eze in goosebumps deserves celebration for delivering heartfelt lines as per modern couplets that will live forever Starting from the paradoxical opening poem “my mistress”, we read: you swept into my life like a hurricane/and now my heart will not beat if it does not beat for you In the poem “sleepwalker” James Ngwu Eze emotes: trapped in the maze of your beauty/i am a sleepwalker singing in my dream The poem “resonance” throbs with: beloved, i shall sing my heart out today/to keep the storm inside me at bay We get to the poem “landscape” and read: your body is my landscape/ please permit me to explore it In “flowers dance at dawn”, James Ngwu Eze pens: i wake up to the sunlight of your smile/ your teeth glowing like diamonds in my dream. The poem “standing in light” renders:

vents on your nose mask The title poem “goosebumps” gives us: you broke all over me like goose bumps/spreading until my body was your territory

The love affair with James Ngwu Eze’s goosebumps becomes so intense that the body and soul of the devoted reader becomes the poet’s territory after a reading It is such a total intercourse that must not be distracted by capital letters and punctuation marks James Ngwu Eze’s love poetry is quite jealous in its ceaseless flow of captivating entrapment

James Ngwu Eze ranks quite high in the cadre of Nigeria’s most prolific poets. Now that he has broken the second collection jinx through goosebumps, there is no limit to what he can achieve through a total devotion to poetry He is definitely sui generis

goosebumps by James Ngwu Eze;

Published by Griots Lounge

Publishing Nigeria, Owerri, Imo State

Published 2023

Pagination 72pp

• Review read at the Presentation of James Ngwu Eze’s “goosebumps” at Centre for Memories, Ncheta Ndigbo, Independence Layout, Enugu on Saturday, July 15, 2023

• Borojah reviews 'goosebumps' in Enugu

Notes

When the American hawk decides todevourtheNigerienchick

North Atlantic Treaty Organisation, NATO, to invade Niger as it did Libya under Ghaddafi, turning one of the wealthiest and most promising African countries into another basket case?

apartheid prison, leading South Africa to freedom, and serving as the first democratically elected President of his country, America continued to officially designate him as a terrorist!

The threat of the mighty United States of America, USA, on Tuesday, August 7, 2023, to invade the little Niger Republic is not for its love of democracy, Nigeriens, or Africans It is basically in the nature of hawks to circle the sky looking for prey, especially chicks

There were American and French troops in Niger before the coup because it is in the nature of black vultures, not only to target and kill small live animals but also to have the patience to wait and devour carcasses

So, the July 26 military coup in the Niger Republic is a pretext The USA Acting Deputy Secretary, Victoria Nuland, in threatening to invade Niger, declared in the usual American arrogant manner: “So we’ll be watching the situation, but we understand our legal responsibilities, and I explained those very clearly to the guys (the new Nigerien leaders) who were responsible for this and that it is not our desire to go there, but they may push us to that point, and we asked them to be prudent in that regard and to hear our offer to try to work with them to solve this diplomatically and return to constitutional order ”

When the USA brags that it has “legal responsibilities”, I ask: under what law, convention, or agreement? Does it intend to engineer another bogus United Nations Resolution under which, along with its Western allies, it destroyed Iraq, turning it into a basket case? Does it intend, as it did with the birds of prey of the

The Western actions in Libya were so destructive that they resulted in the free flow of arms and terrorists into West Africa They so dislocated Libya that, today, a dozen years later, that country remains a failed state with rival governments in Tripoli, Tobruk, Sirte, and Benghazi, where the LibyanAmerican ‘Field Marshall’ Khalifa Haftar holds sway

If the USA were genuinely opposed to coups, then it won’t be a supporter of the coup plotter in Chad, General Mehmet Deby, or his older coup plotter in Egypt, General Abdel Fattah el-Sisi No! If the USA were for democracy and against coups, it would not have overthrown democratically elected Prime Minister Mohammad Mosaddegh of Iran in 1953 and imposed a monarch, Shah Mohammed Reza Pahlavi, in his place The Americans would not have overthrown elected Presidents Jacobo Arbenz of Guatemala in 1954 and Salvador Allende on September 11, 1973 If the American establishment were for elected leaders, it would not have teamed up with Belgium and the United Kingdom to overthrow the newly elected Congo Democratic Republic Prime Minister, Patrice Lumumba, in January 1961, whom they subsequently captured and executed on January 17, 1961

If indeed the USA were for human rights, freedom, or democracy, it would not have been the greatest supporter of apartheid South Africa It would not have designated African freedom fighters like Walter Sisulu, Oliver Tambo, and Joe Slovo as terrorists It is to the eternal shame of the USA that despite Nelson Mandela spending 27 years in an

In fact, it was not until July 2008 that President George W Bush signed a bill into law removing Mandela and other African National Congress, ANC, leaders from the list of people the USA categorises as engaging in “terrorist or criminal ac-

law-abiding, it would not, like bandits, have seized Mexican territories by force, including New Mexico, California, Nevada, Utah, and parts of Kansas, Wyoming, and Oklahoma If it were peace-loving, it would not have invaded Mexico 10 times and Southern American countries over 70 times! The lands so invaded include Haiti from 1915 to 1934, Guatemala in 1954, Cuba at the Bay of Pigs in 1961, the Dominican Republic in 1965,

and Grenada in 1983

The Americans invaded Nicaragua so many times that I am not sure either side continued counting This includes the USA’s occupation of that country from 1912 to 1933 and its 1980 and 1984 invasions The USA’s rape of Nicaragua was so routine and criminal that even a private American physician and lawyer called William Walker raised a private army in 1855 to invade Nicaragua

In July 1856, Walker declared

the USA was enraged It thought it was bad precedent for a Third World people to roundly defeat a Western power It was a battle in which the Vietnamese lost over 3,000 men and the French lost over 8,000 men, with 10,300 soldiers taken prisoner In March 1965, the US invaded Vietnam to reverse Vietnamese independence and, allegedly, stop the country from going socialist

opposed to colonialism, it would not continue to colonise Puerto Rico for 125 years after seizing that country from colonial Spain on October 18, 1898 With America illegally occupying their homeland, Puerto Ricans are not allowed any voting representation in the American Federal Government

As I write, where African Americans, American Indians, and migrants can vote in midterm or American presidential elections, Puerto Ricans have no such right

If the USA were

regime was recognised by the USA under President Franklin Pierce as the legitimate government of Nicaragua! Given the US backing of his terrorist regime, Walker re-introduced the slave trade and threatened the re-colonisation of some Central American countries

The USA did not call its citizens to order; it was a coalition of Latin American countries led by Costa Rica that defeated the Walker mercenaries and forced him to resign as Nicaraguan President on May 1, 1857

When the Vietnamese defeated the French colonialists in the historic Battle of Dien Bien Phu which raged from March 13 to May 7, 1954, and declared independence,

The USA invadeds forced into a disgraceful and disorganised withdrawal in August 2021, which the Washington Post headlined on August 10, 2022, “Two weeks of chaos: A timeline of the US pull out of Afghanistan ”

If the USA claims it is supporting Ukraine because it believes every country should have a right to sovereignty, why does it want to invade Niger; if it has no right to sovereignty?

The USA’s threat of invading Niger is not in the interest of the African people An African saying advises that we should first chase away the hawk before reverting to the chick Let us first protect Niger from vultures before using diplomacy to address the coup question

Owei Lakemfa

"The threat of the mighty United States of America, USA, on Tuesday, August 7, 2023, to invade the little Niger Republic is not for its love of democracy, Nigeriens, or Africans It is basically in the nature of hawks to circle the sky looking for prey, especiallychicks."

• Victoria Nuland, United States Acting Deputy Secretary of State

Prepare to Meet YourGod

The word “prepare”, according to the Chambers 20th Century Dictionary, means, among other things, “to make ready or fit”; “to bring into a suitable state”; “to train, as for an examination”; and “to subject to a process for bringing into a required state” The word features prominently in public and private discourses every day We talk about the state of preparedness of our army to ward off external aggression Teachers and educationists often work hard to prepare their students for examinations

In the business and economic realms, many have attributed our economic problems to our failure to prepare for the fluctuations in the price of crude oil in the international market

In the Book of Amos, the Prophet warned the people of Israel about the need to make preparation for their inevitable meeting with God But it is not only the people of Israel who need to prepare to meet God Everybody in the world needs to prepare as well The question that we should individually ask ourselves is this, “Am I prepared to meet God?” The Bible says that “we must all appear before the judgment seat of God” (Romans 14:10) It goes on to say that, “so then, each of us will give an account of himself to God” (Romans 14:12) Some think that they can avoid their meeting with God by claiming that they don’t believe in the existence of God The Bible says that

“the fool says in his heart, there is no God” (Psalm 14:1)

Charles H Spurgeon, that great Baptist preacher of the 19th century, said, “The atheist is the fool pre-eminently, and a fool universally He would not deny God if he were not a fool by nature, and having denied God, it is no marvel that he becomes a fool in practice Sin is always a folly As it is the height of sin to attack the very existence of the Most High, so it is also the greatest imaginable folly To say there is no God is to belie the plainest evidence, which is obstinacy; to oppose the common consent of mankind, which is stupidity; to stifle conscience, which is madness

But as denying the existence of fire does not prevent its burning a man who is in it, so doubting the existence of God will not stop the Judge of all the earth from destroying the rebel who breaks his laws No, this atheism is a crime which much provokes heaven, and will bring down terrible vengeance on the fool who indulges it ”

Are you prepared for your inevitable meeting with God? There are three infinitely important questions suggested by the text, that we must seek to answer faithfully, namely, “Why should we prepare to meet God?” “How can we prepare to meet God?” and “When should we prepare to meet God?”

First, why should we prepare to meet God? It should be enough to say that God commands it Running like an unbroken thread all through the Bible is God’s command to the children of

lieving heart that turns (us) away from the living God” (Hebrews 3:12) Because of this moral sickness which calls for a helper who has now been given to us, we are to turn to that helper and seek to have healing and recovery from our moral sickness Jesus Christ said, “The Son of Man is come to seek and to save that which was lost” (Luke 19:10) When all men fell in Adam, man became lost to fellowship with God and the kind of life that God wants him to live He became lost to all thingsthatbringrealsatis-

Bible, “In the day that thou seekest me with thy whole heart, I will be found of thee” and “Ye shall seek me and find me when you seek me with all your heart” (Jeremiah 29:13) Oh, if this day, the man, the woman, the boy or girl, reading this and who knows that he or she is wrong with God will say, “Today, with my whole heart I will seek God,” then this day you shall meet Him and be saved The second thing necessary is repentance toward God Our evil, unbelieving hearts turn awayfromGod(Hebrews

tion for meeting God now in order that you may be ready for your life’s end, whenever such end shall come And when shall that be? No angel above knows when that end shall come It may come before midnight tonight It may come before tomorrow morning That is why God says in the Bible, “Boast not thyself of tomorrow, for thou knowest not what a day may bring forth” (Proverbs 27:1) Be ready for your departure from the earth There is no wisdom in going your way to that inevitable end,andthentakingaleap

men to make preparation for their meeting with Him

When we know the mind of God about anything, it is the part of highest wisdom for us to obey His command But another reason is that our condition demands that we should make such preparations Someone may ask, “What of our condition?” There has come to us in our very nature, a moral sickness called sin which has turned us all away from God “For all have sinned and fall short of the glory of God” (Romans 3:23) We all started life with “a sinful, unbe-

faction to the experience of living Outside of Christ, all men are lost in the ways described above and more Thus, we must prepare to meet God because God commands it and it ensures remedy to the problem of sin Salvation is by a Person, and that Person is none other than Jesus Christ who died on the Cross and rose again from the dead

Second, how can we prepare to meet God?

Three things are necessary

First, you must seek God with all your heart. He said in the

3:12) In repentance, we renounce all evil ways and deeds and turn to God The Bible says, “He who conceals his sins does not prosper, but whoever confesses and renounces them find mercy” (Proverbs 28:13)

The third thing necessary is to commit your life to God through Jesus Christ by taking Jesus Christ as your divine Lord and Saviour These three steps must be taken to prepare to meet God, namely, seek God wholeheartedly; repent; and accept Jesus as Lord and Saviour

The third and final question suggested by the text is “When should we prepare to meet God?” First, you should make your preparations for meeting God today and now because you need that your life here and now should be saved There is not a human being reading this or anywhere else competent to live life like it ought to be lived for one short second if such a person is in hostile array against God. Secondly, you should make your prepara-

into the dark without preparedness, without readiness

If you want to prepare for your meeting with God, you may offer the following prayer to God “Dear God, thank you for sending Jesus into the world to die for my sins I confess my sins and turn away from them I invite Jesus into my heart to be my Lord and Saviour Thank you for saving me. In Jesus’ name Amen ” Your eternal salvation and spiritual well-being are our concern If you gave your life to Jesus Christ by offering the prayer above, please let us know through the address below. You may also join us in worshipping God in Yoruba language at 7 30 a m or in English language at 9 00 a m every Sunday

• Rev Kayode Ilupeju, Good News Baptist Church, 47/49, Olufemi Road, off Ogunlana Drive, P O Box 3781, Surulere, Lagos. Tel 0803-302-1008

"Are you prepared for your inevitable meeting with God? There are three infinitely important questions suggested by the text, that we must seek to answer faithfully, namely, 'Why should we prepare to meet God?' 'How can we prepare to meet God?' and 'When should we prepare to meetGod?'"

(Amos 4: 1-13)

LaLigafilescomplaintoverPSG'sQatarsubsidies

Spanish topflight LaLiga has filed a complaint with the European Commission against Paris St Germain's "spending commissions", alleging the Qatari-backed French club are distorting markets through subsidies from the Gulfstate

The practices have allowed PSG, owned by Qatar Sports Investments since 2011, to signtopplayers

Football - Friendly - Paris

St Germain v Celtic - Parc des Princes, Paris, France - July 21, 2020 General view inside the stadium before the match REUTERS/Benoit Tessier/File

Photo and coaches "well above its potential in a normal market situation", LaLiga alleges in the complaint filed on Saturday

The league said in a statement that "PSG has received foreign subsidies from the State of Qatar, which has allowed it to improve its competitive position, thus generating significant distortions in several national andEUmarkets"

A commission regulation on foreign subsidies that came into force last month gives it "the power to investigate financial contributions

granted by non-EU countries to companies engaging in an economic activity in the EU and redress, if needed, their distortiveeffects"

"PSG obtains resources on non-market terms which distort several closely related markets," LaLiga said "It is also able to secure sponsorship income which does not correspond to marketvalues

"This enables them to boost their sporting performance, as well as affecting the ability of rival clubstorecruit

"Therefore, LaLiga trusts that the European Commission, thanks to this new regulatory tool, will take the necessary measures to eliminate market distortions such as those described above, which seriously damage the

sportingecosystem "

Last year, LaLiga filed a complaint with the European soccer governing body UEFA against PSG and Manchester City, alleging they violated financialfair-playregulations

PSG have splashed out on several expensive signings in recent years, including paying a world record 222 million euros ($243 million) for Brazil forward Neymar in 2017 and

180 million euros for striker

KylianMbappein2018

The French champions also renewed Mbappe's contract last year when he was widely tipped to join Real Madrid

Mbappe is in a contract standoff with PSG Relations between the him and PSG have been tense since the French forward said in June he would not renew his deal, which expires at the end of the 2023-24season

ItalyCoach RobertoMancini Resigns

Roberto Mancini, the coach of Italy, has stepped down, concluding a five-year tenure during which they secured the European Championship but fell short of the World Cup, as stated by the football federation(FIGC)onSunday

Mancini assumed leadership of the four-time World Cup champions in 2018 r their failure to qualify for global tournament in sia that year, marking the time they had missed the cer's premier event since 8

The 58-year-old coach cribed his resignation as a rsonaldecision "

n an Instagram post, ncini wrote, "I extend my itude to all my players and porters who have been h me throughout these five rs The remarkable victory the 2020 European mpionship will always d a special place in my rt Ithasbeenanhonour "

Guiding a transitional Italy ad to success at the 2021 opean Championship, ncini achieved this feat owing the retirements of warts Andrea Barzagli, Daniele De Rossi, and captain GianluigiBuffon

UnveilingNigeria'sDebtQuandary

financial governance in Nigeria The Act reinforces the National Assembly’s oversight role in public financial management, specifically in approving borrowing plans. Section 44(2) of the Act states:

“The National Assembly may only approve borrowing plans after a review of the external and domestic debt and debt service obligations of the Federal Government of Nigeria, and state governments in accordance with subsection (1) of this section ”

Impact on Nigerian Citizens and Expert Perspectives

The consequences of the unprecedented loans extended by the Central Bank of Nigeria (CBN) to the Federal Government (FG) cast a long shadow over the lives of

ordinary Nigerian citizens

The potential repercussions, including devaluation, inflation, and heightened debt servicing costs, hold the potential to deeply impact the fabric of society. As Nigerians grapple with these implications, the perspectives of financial experts and government officials provide a multifaceted lens through which to understand the unfolding scenario

Kalu Aja, a noted financial expert, took to social media to dissect the intricate sequence of events triggered by the CBN loans In his tweet, he provocatively laid out the series of actions: “Who owns fx reserves? CBN Who spent fx reserves? CBN Spent on what? Defending the Naira ”

Aja’s probing questions underscore the intricate dynamics that culminated in the defence of the Naira, em-

Continuedfrompage3

phasizing the CBN’s central role in the process

Dr Yemi Kale, a distinguished economist, delved deeper into the issue, raising critical questions about the underlying rationale behind the colossal N23 trillion loans He mused on Twitter, “The N23tn was printed over 8yrs largely to support the exaggerated budgeted revenues over that period? If the revenue targets were met then there might not have been need to print as much ”

Dr. Kale’s query delves into the alignment of the loans with the actual budgetary needs and revenue inflows, fostering a thoughtful examination of fiscal strategies

The analysis gains further nuance with the inclusion of Edo State Governor Godwin Obaseki’s statement made in April 2021. Speaking at a program in the state, Obaseki

lamented the overdependence on crude oil and the rising debt profile He pointed out that the federal allocation for March was insufficient, leading the Federal Government to print between N50 billion and N60 billion for states to share Obaseki’s concern over the country’s economic trajectory and the implications of the loans underscores the gravity of the situation

But the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, refuted the allegation made by Obaseki, clarifying that the funds were provided to states in the form of loans, not a direct printing of money It is apparent from the unfolding events that Obaseki turned out to be right.

The recent tumultuous

events in Nigeria’s financial landscape have brought to the forefront a delicate interplay between economic accountability and stability

The labyrinthine web of loans extended by the Central Bank of Nigeria (CBN) to the Federal Government (FG) has ignited a cacophony of discussions, encompassing legality, regulatory oversight, and the profound impact on citizens’ lives As this complex narrative unfolds, it underscores the imperative for a judicious equilibrium between fiscal responsibility and safeguarding the nation’s economic foundations

The gravity of the situation is reflected not only in the financial statistics but in the tangible impact on everyday Nigerians The devaluation of the Naira, spurred by the CBN’s strategic mea-

sures, reverberates through households, affecting purchasing power and augmenting inflationary pressures

This intricate web of cause and effect illuminates the need for a comprehensive approach to economic decision-making, one that considers both immediate exigencies and long-term implications

The road ahead is fraught with challenges, but it also offers an opportunity to recalibrate and reinforce the pillars of transparent financial governance Nigeria’s resilience is forged in times of adversity, and the ongoing financial discourse presents an occasion to fortify the nation’s economic foundations The journey towards a more accountable and stable future demands a concerted effort by regulators, experts, and citizens alike

• Football - Friendly - Paris St Germain v Celtic - Parc des Princes, Paris, France - July 21, 2020 General view inside the stadium before the match REUTERS/Benoit Tessier/File Photo

RequiemforProduction?

Anyone who still wonders why Nigeria and its citizens have become mendicants in spite of their rich natural endowments should take another look at the number of manufacturing companies that have gone under or relocated from the country in the last five decades

In the 70s and 80s, Nigeria-made goods were the gold standard in the West African market from automobiles to tyres, to batteries, to household toiletries From Lagos to Abidjan, our companies had a captive market for their products Companies competed for freshly minted graduates to fill their ever-increasing vacancies as they expanded to meet market demands Final-year university and polytechnic students were spoilt for choice between competing companies scouting for fresh blood

Those were the days! Gradually, we were afflicted by the importation bug Our rulers, intoxicated by the newfound wealth occasioned by petrodollars, abandoned the ‘Buy Nigeria’ mantra and started showing signs that, as far as they were concerned, charity began abroad

Afrobeat superstar, Fela Anikulapo-Kuti, criticised the burgeoning insanity at the time in his album titled “Buy Africa”:

Se tiwani o, mi o fe (Is that our product? I reject it)

Se tiwani o, mi o ra (Is that our product? I won’t buy)

Ta lo ma bawa je? (Who’s going to eat this with us?)

Ta lo ma bawa je? (Who’s going to eat this with us?)

Afi ta baratiwa o (If we don’t patronise our own)

Ki la se ma l’owol’Africa?

(How can Africa prosper)

Afi ta baratiwa o (If we don’t patronise our own)

We didn’t listen to Fela

We watched as one iconic manufacturing concern died after another

Just as the death of any human being diminishes the rest of humanity, the demise of any corporate entity is a source of distress for its surviving peers In many parts of the world, when successful

corporate players who have become household names succumb to the economic variant of the grim reaper, the funeral train stretches from the location of the company to the rest of the country

In Nigeria, we have become so used to erstwhile manufacturing giants biting the dust that it is no longer news In a sense, one can say that the general attitude is to ask, who next?

Many manufacturing companies have died over the years Last week, it was the turn of GlaxoSmithKline, GSK, to announce its own obituary after 51 years in Nigeria The company is well known for its pharmaceutical products, especially household brands like Panadol and Sensodyne (“If it is not Panadol ”)

In a corporate filing, the pharmaceutical giant said it would now adopt a distributor-led model to supply the country with its products

“In our published Q2 results we disclosed that the GSK UK Group has informed GlaxoSmithKline Consumer Nigeria PLC of its strategic intent to cease commercialisation of its prescription medicines and vaccines in Nigeria through the GSK local operating companies and transition to a third-party direct distribution model for its pharmaceutical products,” the company said

“For the above reasons, and having, together with GSK UK, evaluated various other options, the board of GlaxoSmithKline Consumer Nigeria Plc has concluded that there is no alternative but to cease operations ”

GSK Nigeria’s sales in the first half (H1) of 2023 dropped to N7.75 billion from N14 8 billion in the same period a year ago In its 2023 H1 report, the company lamented that the business environment continued to be very challenging with foreign exchange (FX) availability affecting its ability to settle foreign currency-denominated trade payables with product suppliers The company made more money from the

sale of its consumer healthcare brands than its pharmaceutical brands (N2 49 billion)

Wole Olaoye

100,000

“Later you will find yourself struggling to sell 50,000 because the hospital buying from you prefers alternatives because the other companies too may be quality Once they crowd you out, you find it difficult to maintain your volume, and when you can’t maintain your volume, you cannot pay your cost The Indian will sell at 20 percent of your price It has happened to me, so I know what I am

that half of those remaining were ailing and that capacity utilisation in industries hovered around 30 per cent and 45 per cent on the average. Successive governments did not solve the problems; they introduced complexities of their own

Nigerian manufacturers self-generate 13,22 million

3 67 mega MW of electricity, according to a survey carried out by the Nigerian Energy Support Programme and Deutsche Zusammenarbeit (GZ) in 2015

In 2014, Procter & Gamble set up a $300 million diaper plant in Agbara Estate, Ogun State It was celebrated by the government, being the United States’ biggest nonoil investment in the country.

However, four years later, the company announced its decision to quit production

social insurance tax collections,

Critics of the bailout at the time had argued the companies should be allowed to fail and the industry that resulted from the aftermath would be stronger Treasury officials had repeatedly said the bailout was not an investment meant to turn a profit, but a move to save US jobs

Now, who is to save Nigerian jobs being shipped away to other climes while we stand akimbo and continue to wallow in our regression?

It made more sense to simply import and sell finished products than to manufacture goods in an environment where every manufacturing firm has to generate about 70 percent of its power requirements, depend on black market operators for foreign exchange to import raw materials, contend with multiple taxation and inadequate municipal infrastructure, tiptoe around corporate landmines planted by corrupt government officials, and compete with smugglers and importers of competing Asian brands dumped in the market

In an interview with The Cable, Ade Popoola, managing director of Reals Pharmaceuticals, described the situation thus: “It’s like being in the middle of an expressway When you have too much traffic, the rate at which you will progress will be difficult no matter how good your car is,” Popoola explained

“The look-alike from India crowded them (GSK) out You find out that if you have been selling 250,000 units per year, when cheaper alternatives come in, it will first of all reduce to 200,000, and subsequently to 150,000, and

saying ”

Eleven years ago, the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) raised an alarm that at least 800 companies had closed shop in Nigeria between 2009 and 2011 due to the harsh business environment It warned

An insider revealed that apart from problems associated with electricity generation and inadequate infrastructure, the company’s refusal to bribe customs officers and other revenue agencies led to perennial frustration, making the management decide to beat a retreat

Apparently, the business climate of Ghana is considered more clement That is the only reason that could account for the relocation of some of the businesses that left Nigeria for Ghana. Among such firms are Berec Batteries; Exide Batteries; Okin Biscuits; Osogbo Steel Rolling Mills; Nigeria Sugar Company; Bacita; Tate and Lyle Sugar Company; Matches Manufacturing Company, Ilorin; Nigeria Paper Mill Limited located in Jebba, Kwara State; Nigerian Newsprint Manufacturing Company Limited, OkuIboku, among many others

Elsewhere, responsible governments move mountains to keep the wheels of manufacturing firms rolling as both Presidents Bush and Obama did across two administrations (Republican and Democrat) to save the automobile industry in the United States The federal bailout of General Motors Co, Chrysler and parts suppliers in 2009 saved 1 5 million jobs and preserved $105 3 billion in personal and

At this rate, Nigerians may soon have to buy commonplace items such as toothpaste and methyl balms from neighbouring countries I have seen how some of them bend over backwards to accommodate foreign manufacturing firms The fact that the level of corruption in many of those countries is of kindergarten proportions compared to ours, makes their terrain even more attractive

It is not just GlaxoSmithKline that is leaving Nigeria, it is Nigerian jobs that are growing wings! Do we love our country enough to staunch this economic haemorrhage?

If we continue to lose the capacity to produce and instead throw more people into the unemployment market, the requiem won’t just be for the manufacturers who have bitten the dust but for the whole country of economic bystanders who cannot produce what they consume

Congratulations, Prof Okojie

Hearty congratulations to Emeritus Professor Julius Okojie, former Executive Secretary of the National Universities Commission, (NUC) on the Inaugural edition of his annual Speaker Series and the launch of his Taco Charity Foundation

I’m convinced, more than ever before, that living for others is an investment in immortality Happy 75th birthday, Prof • Wole Olaoye is a Public Relations consultant and veteran journalist He can be reached at wole olaoye@gmail com, Twitter: @wole olaoye; Instagram: woleola2021

"Anyone who still wonders why Nigeria and its citizens have become mendicants in spite of their rich natural endowments should take another look at the number of manufacturing companies that have gone under or relocated from the country in the last five decades."