It was good news coming too late; but, better late than never.
Edun’s appointment as Minister of Finance and later elevation to Coordinating Minister was the cardinal blunder committed by President Tinubu. It was all based on sentiments and the unchecked penchant for wanting to reward loyalists – even with appointments underserved. The Minister of Finance in any leading nation is not a good accountant or book-keeper. Nigerian leaders should have learnt that from the experience with Buhari’s selection of Ms Kemi Adeosun, 2015-2018 and Zainab Ahmed, 2018-2023, as his Ministers of Finance during his eight disastrous years in office 2015-2023. Two more incompetent Finance Ministers will be difficult to imagine. Tinubu fell into the trap of appointing someone he could trust, instead of the best possible candidate for the job. Nigeria is far poorer for it.
PRIVATISATION OF TOP POSTS AND CONSEQUENCES
“When those in office regard the power vested in them as personal prerogative, they inevitably enrich themselves, promote their families, favour their friends. The fundamental structures of the modern state are eroded like the supporting beams of a house after termites have attacked them. Then, the people have to pay dearly and long for the sins of their leaders.” Lee Kuan Yew, 1923-2015.
Yew, Singapore’s Prime Minister has entered history by taking an island nation from the Third World, including Nigeria, to the First World, including all G-20 nations in just thirty years. By the time Tinubu ends his first term in 2027, Nigeria’s Fourth Republic will be 28 years old; but, Nigerians will be poorer than they were in 1999. The difference in the wealth of the people of the two nations can be summarized in one word: LEADERSHIP. There are several descriptions given to the concept. My favourite is by US Congressman John Brademas: “Leadership is always somewhat mysterious. Leadership can be summed up in two words: intelligence and integrity; or to use two synonyms: competence and character.” VBQ p 125. A brief comparison between Singapore and Nigeria would help to illustrate why Nigerian leadership on the whole has been low quality since 1970 – but especially since 1999; when our descent to seemingly irreversible poverty started.
A few more facts will help drive home the reasons for our predicament in Nigeria. In 2025, Nigeria had the 12th lowest per capita income globally and is sinking. Singapore, without crude oil and gas and no known natural resources, was rated fourth or sixth among nations and the income is scheduled to rise every year for the foreseeable future.
The results we are observing emanated from conscious decisions made by the first and subsequent Prime Ministers of Singapore as well as the Presidents of Nigeria since 1970 – when Nigeria’s GDP and per capita income were higher than those of Singapore. Since 1999, every Nigerian President has held on to a fleet of aircraft, as if his life depended on it, while his country produced progressively less than Singapore.
The Prime Minister of Singapore does not unilaterally award large contracts for major projects. There is an institution established for that; to ensure that the nation obtains value for money. A Nigerian leader goes abroad, negotiates a loan, tied to a contract, awards the contract to a family friend – all without the approval of the National Assembly, NASS; and no single federal lawmaker raised his voice against that travesty. There is a reason; known to the Executive and legislative branches.
No single elected member of Singapore’s parliament has a corruption case pending against him in any court. Nigeria’s NASS is populated, from the top, with former Governors and other public officials, with corruption charges suspended because they now belong to the ruling party. Outlaws in the legislative chambers are far worse than all the armed robbers in the country. Checks and balances between the two branches of government have vanished. We should have been forewarned when the President selected the leadership of the chambers of parliament; now glorified errand boys of the Presidency. We witnessed an experience of that a few weeks ago when the Senate President represented Tinubu in his scheduled official visit to Lagos State. The Governor and the people were too shocked and embarrassed for words. Only the Senate President was not aware that something strange and reprehensible was taking place.
Two vital matters remain to be touched to point to the low quality of leadership Nigeria has had since 1970 – not surprisingly, they occurred during 1999-2007 under the self-righteous President Obasanjo.
POWER AND FUEL SUPPLY
“Energy (production and) consumption matter both for our environment and economy.”
John Baldacci,
It requires no towering intelligence to understand that adequate power and energy supply are indispensable for rapid economic and social development. Why then has it been impossible for five Nigerian Presidents, all presumed to be intelligent, to significantly improve on power and energy supply to the Nigerian economy and people? The problem might not be intelligence, per se, but how it is applied. Every Nigerian president has managed, and perhaps deliberately worked, to make a few people close to power very wealthy while impoverishing the vast majority of citizens. Power supply has been politicized and weaponized against the people. Today, power supply is worse than in 2012; and getting worse; while Egypt, another African country plans to add 12,000MW more in five years – to become the largest power-generating nation in Africa. So, what is seriously lacking in Nigeria? An example will answer the question.
President Obasanjo, brazenly withdrew and spent $13-16 billion to improve power generation and distribution. He failed woefully. There is a dispute in court concerning who approved the $6 billion contract for a power project in Taraba State between Obasanjo and his Minister of State for Power. Irrespective of who turns out to be right, the results are incontrovertible; nineteen years after Obasanjo left office, nothing had been added to power supply from that source. Neither Obasanjo nor his Minister would be walking around as free men if they held office in Singapore. What is missing?
CHARACTER. “Character is what you are in the dark”, according to Dwight Moody. The darkest place in Nigeria is Aso Rock, Abuja.
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VANGUARD.
