THE PROBLEMS WE MUST SOLVE

Before I discuss our problems, let me first state that there once was a beautiful Nigeria. Rare are the places that can rival Nigeria in its golden days—a land that once offered boundless opportunities to embrace one’s true self and soar to the heights of one’s potential. Young Nigerians must be made aware that the nation they see today wasn’t always so. There once existed a Nigeria where steady electricity was a norm, where university graduates stepped confidently into awaiting careers, and where the education system stood tall, rivaling the world’s elite institutions. 

It was a Nigeria where night journeys from Aba to Zaria were taken without a whisper of fear, free from the shadows of kidnapping or the threat of murder. It was a land where indiscipline met with firm hands of community justice, and corruption hadn’t seeped into the very marrow of society. In that Nigeria, a pervasive gloom was unknown, replaced instead by an air of optimism and joy, where smiles were as common as the morning sun. This is the Nigeria that once was—a beacon of hope and prosperity. Yet, in a fleeting moment, this era of prosperity and peace came to an abrupt end.

Before their exodus, Nigeria hosted renowned firms like Michelin, Unilever, Sanofi, Bolt Food, Procter & Gamble, GlaxoSmithKline, Surerest Foam Limited, Mufex, along with Framan Industries, MZM Continental, Nipol Industries, Moak Industries, Stone Industries, and others, totaling over 1200 that have left since 2000.

But this recollection of Nigeria is more than mere nostalgia; it serves as a potent call to action. Together, we can not only restore this golden age but also enhance it, creating a future even brighter and more promising than before.

Therefore, to solve Nigeria’s existing problems, aspiring leaders must deeply understand these problems and be equipped with the relevant expertise, courage, moral fortitude, and leadership skills to confront them. These issues have worsened over decades, deteriorating with each passing decade due to lack of resolution.

My confidence in the current administration’s ability to tackle these problems is low, as its leaders are influenced by special interest groups resistant to change. Consequently, experts predict these problems will persist beyond the Tinubu administration. The individual assuming office in 2027 must be ready to confront and address these challenges.

The first step in this crucial mission is an honest recognition of where we stand. Nigeria, rich in culture, resources, and human capital, faces significant hurdles. From economic stagnation, corruption, and infrastructural deficits to educational shortcomings and healthcare crises, the issues are manifold. Moreover, the erosion of social cohesion and rising insecurity add to the complexity of these challenges. These hurdles impede our national progress and the well-being of our citizens. As president, I am committed to confronting and solving these pressing matters, as outlined in the following sections.

Leadership Deficit

Over the years, Nigeria has unfortunately been saddled with political leaders, spanning both military and civilian regimes, who have fallen short of the nation’s aspirations. Despite the recurring electoral cycles, the country continually finds itself under the helm of leaders lacking the necessary vision, integrity, capability, and courage to address our myriad challenges.

This is so because the political landscape is dominated by individuals who present themselves as leaders, yet their actions are far from exemplary. They act with impunity because they hold themselves above the law, exhibiting a level of corruption that encompasses theft, embezzlement, and even acts of violence. Their governance malpractices have brought the country to a financially precarious state, teetering on the edge of collapse.

Our current leader, President Tinubu, unfortunately, seems to follow this trend, appearing to be more driven by the allure of the title rather than a concrete strategy for governance.  It’s high time this repetitive cycle of inept leadership is broken. What Nigeria urgently requires is a radical and transformative approach in leadership to navigate away from this brink of disaster. I have no confidence that the current administration has the legitimacy, competence, moral integrity and courage to address our critical issues, as outlined below, over the next four years.

The Scourge of Corruption

Public funds misappropriation has become an entrenched problem, posing a significant barrier to Nigeria’s progression. Successive leaders have failed to address this deeply rooted menace, allowing corruption to permeate every sector of the nation—from economics to education and from the judiciary to religion. For instance, entities like the Nigerian National Petroleum Corporation (NNPC) and the Ministry of Finance, among many others, suffer from a lack of transparency and accountability, and have become cesspools of corruption and mismanagement.

Corruption is a major obstacle for doing business in Nigeria and needs to be tackled. This negative perception among investors has led to a substantial decline in Foreign Direct Investments (FDI). Corruption has also stripped a majority of our citizens of their livelihoods and dignity, leaving the nation’s coffers dry. A select few have unjustly amassed unmerited wealth, hidden in foreign countries, at the expense of the suffering masses.

Economists report that since the first republic was established, an alarming $450 billion of the approximately $1.1 trillion in resource revenue has been wasted or misappropriated by successive governments, with no consequences for those responsible. I firmly believe that effective policy implementation is unattainable without first overcoming the rampant corruption plaguing our nation. Tackling corruption will be a primary focus of my administration.

Tribal Prejudice Thrives

Tribalism in Nigeria has long been a significant problem, deeply ingrained in the fabric of our nation’s social and political life. This pervasive tribal sentiment often overrides national identity, leading to divisions and tensions among our diverse ethnic groups. Our complex tribal dynamics are a legacy of colonial rule, which exacerbates ethnic divisions and rivalries. Post-independence, these tribal affiliations have continued to influence political decisions, governance, and resource distribution, often superseding merit and national interest. The result is a fragmented national identity, where loyalty to tribe often takes precedence over the collective well-being of all our peoples.

The negative consequences of the tribal cancer are manifold and profound. It has been a root cause of numerous conflicts and violence, undermining our national unity and stability. Tribal biases and favoritism in government appointments, resource allocation, and employment opportunities have led to inefficiencies and corruption, hindering national development. For evidence, look no further than the Buhari and Tinubu administrations.

This favoritism breeds resentment and marginalization among other tribes, fueling cycles of revenge and conflict. Furthermore, tribal prejudice has impeded the growth of a strong, cohesive national identity, essential for the progress and unity of our nation. As long as tribalism remains a dominant force in our society, economy and politics, our country will struggle to realize its full potential as a united and prosperous nation.

Poor and inadequate Infrastructure

Poor and inadequate infrastructure has severely handicapped the economy rendering it uncompetitive. In areas ranging from electricity supply, transportation, port facilities, broadband, to water services, previous administrations have poured billions of dollars with little tangible progress in infrastructure advancement and modernization.

Electricity supply is a major problem. Nigeria possesses installed capacity to generate up to 15 gigawatts (GW) of electricity. However, it currently produces only about 5GW. A significant portion, approximately seventy percent, of the electricity produced is lost to operational inefficiencies. Additionally, a minimum of 2 percent of the power is lost in the process of transmission and distribution.

According to NERC and recent energy studies, the high cost of electricity contributes to over 40 percent in the cost of goods and services sold in the country. This high cost significantly undermines the competitiveness of our economy. Experts estimate that the unreliable electricity supply leads to an annual loss of approximately US$28 billion due to lost economic productivity.

The lack of adequate infrastructure leads to a significant loss of agricultural produce, with about 48 percent failing to reach markets in time. Another negative impact is reduced workplace productivity, as employees are frequently stuck in traffic jams on congested roads. Additionally, the inefficiency of ports, unable to promptly process cargo, results in idle ships waiting for days. These severe and costly inefficiencies render business operations unprofitable and make the lives of our citizens extremely difficult.

Small businesses are forced to depend on costly diesel generators due to frequent and prolonged power outages, while firms with grid connections receive only about five hours of electricity daily. The movement of goods across the country is also hindered by the poor condition of roads, causing delays for traders. Overall, inadequate infrastructure severely hampers our economic progress and the competitiveness of local industries. Tackling infrastructure development and modernization will be a primary focus of my administration.

Economic Stagnation and High Unemployment

The Nigerian economy is caught in a crippling cycle of stagnation, devoid of a clear and forward-thinking national economic strategy. GDP growth rate remains stagnant. Poor resource management, loose monetary policies, inconsistent exchange rate systems, along with excessive borrowing, uncontrolled government spending, and external shocks such as the COVID-19 pandemic, have thrown the economy into chaos.

The scarcity of financing and high borrowing costs are impeding the growth of the private sector, where only a mere 10 percent of businesses have access to financial resources. The GDP per capita is expected to keep falling, as the economy is predicted to grow at a slower pace than the population rate.

The current economic structure heavily relies on the export of oil and some raw materials, with prices that are inherently volatile. Our excessive dependence on oil is ultimately futile and unsustainable. Regrettably, sectors like agriculture, manufacturing, technology, and value-added digital services contribute minimally to the nation’s overall productivity.

This grim economic situation has led to one of the highest unemployment rates in Nigeria’s history, standing at 36%. According to the World Bank, each year, 3.5 million Nigerians enter the labor market, facing limited to no employment opportunities. This challenging job market has compelled over six million Nigerians to look for work abroad, while others are pushed towards criminal activities due to lack of options. Expanding the economy and generating employment will be at the forefront of my agenda, and we will accomplish this while ensuring it does not exacerbate the hardships faced by our citizens.

Soaring Inflation’s Stranglehold

With inflation rates surging to an alarming 31%, the majority of Nigerians face the harsh reality of diminished purchasing power. Inflation is driving more Nigerians into poverty. Basic necessities such as food, medicine, shelter, and education are becoming increasingly unattainable. For about 90% of the populace, the cost of living has become prohibitively high.

This unchecked inflation, intensified by the policies, or rather the absence of effective policies, under President Tinubu’s administration, particularly the ineffective dual exchange rate regime, lax monetary policies and constrained supply chains, persist in driving up inflation.

This situation inflicts severe hardship on countless Nigerians, as the prices of imported goods, which they heavily rely on, have soared. In this scenario, the government seems to be more of an aggravating factor than a solution to the economic woes. Under my leadership, reducing inflation will be a top priority, and we will achieve this without plunging the economy into a deeper recession than its current state.

Food Insecurity

Nigeria can’t feed its people. A nation’s true independence is gauged by its ability to feed its populace. The stark contrast between the enormous wealth of a select few and the destitution of many is glaring. Recent insights from USAID reveal that an estimated 12.8 million Nigerians will need emergency food aid this year, signaling a severe decline in food security.

World Food Programme data paints an even grimmer picture, indicating that 75% of Nigerian children face nightly hunger. With extensive arable and fertile land, we have the potential to be the breadbasket of Africa. Addressing food shortages will be a top priority for my administration.

Corrupt and Ineffective Judiciary

Judicial corruption and ineffectiveness represent a profound challenge to the rule of law and the fundamental principles of our nascent democracy. At its core, judicial corruption manifests through the bribery of judges, improper political influences, nepotism, and the misuse of judicial discretion. This not only undermines the integrity and impartiality of judicial decisions but also erodes public trust in our legal system.

Nigerians are increasingly frustrated with the glaring failures in the administration of justice, particularly regarding disputed political election outcomes. The inefficiency within the judiciary, often compounded by corruption, manifests in delayed justice, a lack of transparency, and the appointment of underqualified judicial officers.

These shortcomings result in frequent miscarriages of justice, where the rights of ordinary citizens are neglected, and the wealthy guilty parties evade proper legal procedures. The consequences of our corrupt and ineffective judiciary are far-reaching, impacting political and social stability of our nation, economic development, and the protection of human rights.

Tackling these challenges is paramount for my administration. We require strong legal frameworks, rigorous adherence to ethical norms, and a dedication to qualifications, transparency, and accountability within our judicial system.

 Educational Downslide

Nigeria’s position on several global human capital indices continues to be lower than the average for developing countries in sub-Saharan Africa. Today we have over 20 million out-of-school children without any tangible policy initiative by the federal government to get them back to school. The nation’s educational system is plagued by numerous challenges, the most critical being the production of graduates inadequately equipped for the workforce. Over the last two decades, the quality of education has declined, characterized by non-performing teachers and students who lack the discipline to learn.

A major factor in this decline is the inadequacy of the curriculum, the lack of proper educational infrastructure, and poor compensation structure for teachers, stemming from insufficient funding. Previous governments have persistently allocated insufficient resources to this crucial sector, with budgetary contributions dropping to less than 5% in recent years, a trend that has lightly improved during Tinubu’s administration. Under my leadership, improving the quality of education at all levels will be my top priority.

Severe Healthcare Disparity

Healthcare disparity in Nigeria is a significant issue, marked by uneven access and quality of medical services across different regions and socioeconomic groups. Some key statistics illustrate these disparities. For instance, the doctor-to-patient ratio in Nigeria is alarmingly low, with approximately four doctors per 10,000 people, far below the World Health Organization’s recommendation.

Rural areas are particularly affected, where access to healthcare professionals and facilities is severely limited compared to urban centers. Maternal mortality rates in our country also reflect this disparity, with a high rate of approximately 814 deaths per 100,000 live births, one of the highest in the world. This is compounded by the fact that only about 35% of births in rural areas are attended by skilled health personnel, compared to over 65% in urban areas.

Furthermore, the prevalence of preventable diseases like malaria and tuberculosis remains high, with inadequate healthcare infrastructure and limited access to essential medicines exacerbating the situation. These statistics underscore the urgent need for targeted interventions to bridge the healthcare gap in Nigeria. The current administration has not priorities the health challenges faced by our people.

From my first day in office, my administration will give due attention to resolving the issues of healthcare deficiencies, including high cost of health services and medicines, lack of adequate and affordable health insurance system, the shortage of health professionals and the lack of modern facilities.

Currency Exchange Crisis

The existence of two parallel exchange rate systems is negatively impacting businesses and has weakened attempts to control hard currency, leading to an unintentional boom in the black market for foreign currency.

Nigeria’s foreign exchange (forex) reserves have shrunk significantly. The difficulty in obtaining foreign exchange has become a significant issue for local businesses and investors alike, especially as reserves diminish. Confidence in the business sector has collapsed and many companies have pulled out of the country or failed outright.

Consequently, this situation has led numerous foreign investors to withdraw their investments from the country. The hasty action of the Tinubu administration to devalue the Naira, without thoroughly planning for the implementation of a unified exchange market, represents a short-sighted and avoidable policy mistake. My administration will begin addressing these issues from the very first day in office.

Out-of-Control Government Expenditures

Currently, our nation operates one of the most costly and inefficient government bureaucracies globally, offering minimal to no benefits to its citizens. In fact, the government’s bloated operations and the high expenses of running the National Assembly, have become unduly costly, representing a vast expenditure sinkhole. Yet, pensions remain unpaid or not adjusted for inflation, affecting even those fortunate enough to receive payment.

The Tinubu government, following its predecessors’ footsteps, consistently spends beyond its revenue intake. To bridge this gap, it consistently borrows, offering increasingly attractive interest rates to entice foreign creditors. This borrowing trend, which includes taking more loans to service existing ones, has led to a situation where, by last year’s end, interest payments consumed over 102 percent of the government’s revenue.

Furthermore, when the government does invest, a significant portion of the funds are either squandered or embezzled by government officials. In essence, the government itself stands as a major issue facing Nigeria. As outlined in the Comprehensive Strategic Initiatives section, under my leadership, I plan to reduce the size of the government and National Assembly and swiftly enhance the efficiency and productivity of the government. Our government must serve our people in a cost-effective manner.

Nigeria is Broke

While global economies focus on producing goods and services, Nigeria’s attention has gravitated towards continuous borrowing for corruption, consumption and debt servicing. With a 2023 budget deficit of ₦11.34 trillion, accounting for 5.8% of the projected GDP—surpassing the 3% cap defined by the Fiscal Responsibility Act of 2007—it’s evident that new loans are fueling a debt-driven system and an overgrown bureaucracy.

Shockingly, in 2022, our debt service commitments exceeded our capital expenditure allocations, with debt reaching 40% of the GDP. Simply put, Nigeria’s finances are in dire straits. The nation is broke. My administration will decisively put an end to the nation’s current unsustainable pattern of reckless borrowing and excessive spending.

Fiscal Recklessness

Nigeria’s fiscal trajectory is alarmingly unsustainable. Strikingly, with outstanding debt of over $105 billion, debt payments have soared beyond 102+% of national revenue. Without decisive action to curtail ballooning deficits and curb the borrowing spree, Nigeria’s fiscal problems will continue to mount.

As the nation continues to take on debt for often unjustified projects and maintain its oversized bureaucracy, debt levels will continue to surge, far surpassing future revenue. Genuine economic recovery will hinge on rectifying this government’s financial imbalance. This situation demands a leader with the vision, expertise, and resolve to stop this irresponsible fiscal course. I am ready to confront this challenge head-on and guide our nation out of the looming debt crisis.

Debt Ponzi Scheme

The Tinubu administration seems enmeshed in a perilous cycle of debt, drawing funds from new lenders at steeper interest rates to pay off earlier, less costly debts. This approach is nothing short of fiscal folly. Such cycles, akin to Ponzi schemes, are inherently unstable and foreshadow an impending financial collapse. Dismantling this Ponzi-like financial structure will be a key focus of my administration.

Extreme Inequality

In our country, a stark disparity divides the population, with a small elite reaping the lion’s share of the nation’s riches, as 5% of Nigerians hold sway over 90% of its wealth. This extreme concentration of resources fosters an embedded cycle of poverty and the marginalization of the vast majority, entrenching a socioeconomic divide that hinders the collective well-being of our society.

A society marked by inequality cannot claim to be a society that enjoys freedom and safety. My leadership will be dedicated to creating a level playing field, ensuring equal opportunities for every Nigerian to succeed. Additionally, we will actively seek out and reclaim wealth that has been acquired through illicit means.

Widespread Poverty

It’s heartbreaking to note that around 120 million of our fellow citizens survive on less than a dollar daily. Even more disheartening is the rise in acute malnutrition to 29% since Tinubu took office. For a country blessed with vast oil reserves, it’s paradoxical that 63%, the lion’s share of our population live in abject poverty, lacking access to basic life essentials. Addressing mass poverty will be a top priority for my administration.

Chaos and Insecurity

Across the nation, a grim picture of lawlessness and violence prevail. Armed with violence, a myriad of offenders — from bandits to extremists — engage in kidnappings, theft, homicides, sexual assaults, human and narcotics trafficking, and killings. They impose unauthorized curfews, disrupt the distribution of goods, ruin crops, set ablaze markets, vandalize properties, uproot families, and strike fear into the populace, including orchestrating jailbreaks.

The persistent wave of violence is a major obstacle to Nigeria’s progress. My administration will confront these extremely violent criminals head-on, and we are determined to prevail. For those willing to undergo rehabilitation, we will offer the chance to transform into productive contributors to our society.

Prevailing Mediocrity

While meritocracy is the backbone of any thriving democracy, Nigeria seems trapped in a cycle of mediocrity. Political placements often prioritize party affiliations, religion, tribal background, and favoritism over competence. The Federal Character program, initially conceived to promote diversity, has been misused to undermine meritocratic principles, sidestepping candidates with aptitude and skills in favor of those with the ‘right’ affiliations. We cannot solve the complex problems facing us without embracing a free market for talent. My administration is committed to placing the right individuals in key government roles and organizations, ensuring leadership based on capability and merit. We will also provide legal backing for public companies to hire without succumbing to political pressure or nepotism.

Pervasive Culture of Indiscipline

Our society exhibits a deep-rooted culture of indiscipline, spanning cultural, religious, and ideological aspects. From everyday citizens to high-ranking officials in the National Assembly and the Presidency, there’s a widespread reluctance to adhere to societal norms and values, such as self-control, self-discipline, common decency and restraint.

This widespread indiscipline is evident in disregard for authority and other dishonest practices. Damage of government property, lack of patriotism, dereliction of duty, child abuse, rape, theft, exploitation, public indecency, disregard of traffic rules, queue-jumping, and spreading false information are all prevalent. We can’t build a thriving democracy on the prevailing foundations of indiscipline. My administration will wage and win the war on indiscipline.

A Culture of Drug Trafficking and Drug Addiction

Drug trafficking and addiction are significant problems in our country, posing serious social, economic, and health challenges. Our nation’s strategic geographic position between the East and West makes it a major transit point for drug traffickers, especially for narcotics destined for Europe and North America. This illicit trade is fueled by powerful international drug syndicates and is exacerbated by corruption and weaknesses in law enforcement and border control. The impact of drug trafficking in our society is far-reaching, contributing to crime, violence, and instability, undermining the social fabric and governance structures of our nation.

Drug addiction, a direct consequence of drug trafficking, has grown alarmingly, especially among our youth in all states and communities. This is evident in the streets of Lagos, Kano and Enugu, for example. The easy availability of a wide range of illicit drugs, including opioids, cannabis, and amphetamines, has led to increasing substance abuse. This surge in drug addiction has overwhelmed the existing health infrastructure, which is ill-equipped to deal with the scale of the problem.

The social stigma we attach to addiction further complicates efforts to provide effective treatment and rehabilitation services. Consequently, drug addiction exacerbates issues like unemployment, poverty, and health crises, contributing to a vicious cycle that hinders socio-economic development. The drug trafficking and addiction problem will be one of the top policy priorities for my administration.

Powerful and Dangerous Distributional Syndicates

In Nigeria, a shadowy yet formidable distributional syndicates (special interest groups called cabals by Nigerians) operate with the singular aim of dominating the country’s oil wealth and controlling key economic rights across vital sectors such as oil production, mineral mining, cement, fertilizer, and oil refining. These entities act as the unseen forces behind governmental decisions, their operations shrouded in secrecy and often misaligned with the broader interests of the Nigerian populace. Their existence is a significant contributor to the rampant corruption and oil and oil products theft that pervades the nation.

These syndicates wield their influence to secure lucrative government contracts and subsidies, systematically diverting funds earmarked for public services and developmental projects. This diversion of resources not only erodes public trust in institutions but also undermines the very foundations of the rule of law, thereby impeding Nigeria’s economic and social progress. By safeguarding their interests, these groups create formidable barriers to change, hindering the nation’s advancement and clinging to a status quo from which they benefit.

For Nigeria to embark on a path of true progress and reform, it is imperative to confront and dismantle these entrenched syndicates. Their disbandment and outlawing are crucial steps towards liberating the nation from the grasp of corruption and moving towards a future where economic growth and social development are not hindered by the self-serving agendas of a powerful few. A primary focus of my administration will be to dismantle and prohibit these distributional syndicates in every form and function.

Democracy Is Not Yet Working For Nigerians

Democracy is failing in Nigeria, where elections are frequently determined not by the will of the voters but through rigging by political parties, candidates, the electoral agency, and even the judiciary, which should safeguard election integrity. Nigeria’s elections lack transparency and credibility. Regrettably, the multi-party democratic system has evolved into a profitable system of patronage fueled by political corruption. This widespread electoral corruption poses a serious threat to Nigeria’s survival as a functioning state.

Consequently, elected officials often act with impunity and evade accountability, knowing that the system is skewed in their favor. This has given rise to an environment best described as an electoral autocracy.

Confronted with these formidable challenges and the ongoing failure of the current administration to effectively address them, the president who takes office in 2027 will inherit a nation besieged by economic devastation, widespread poverty, deep-seated division, and turmoil — conditions that could be deemed the most severe in modern Nigerian history.